Swing Trading for Nifty Futures

[kthakker0]

Dear KT
if you are watching weekly trend as well you might have seen
very good spinning dogi brother,
I think it is time for trend reversal.....
Close below 5332 will drag NF towards 5214 very soon
and above 5451 will push to 5600...
70/30 chances for 5214...
Happy Trading Ahead,
Darshan

Hi,

See I may be wrong about this, but past weekly trends are done and gone and has little relevance on next week's trading, weekly trend leaves a trail of what the market perceived then and levels which we name as support / resistance. You will never have the same circumstances (Good / Bad News) in next week going forward, and it's precisely for this reason we always forecast and not predict next day's move.

When leveraged / hedge money is playing in abundance, all technical's combined are proved false. I thought NF would not go above 5372 and under that impression I not only proved myself wrong but I even lost some money. Actually if technical was supreme then NF should not have gone above 5299, but...

The thing I have learnt is, today's range always paves the road for tomorrow. Market is alive only on a trading day and today's range prepares for tomorrow and not day after.

On Monday NF opening below 5345 will be a very good sign for sellers as more shorts will be pressed or (forget the opening) if NF trades consistently below 5352 then rally will loose steam more quickly but the final nail to the rally's coffin will be when NF closes below 5312 then watch your 5214 level becoming a reality.

But here we might have a problem, if the selling is absorbed before 5312 which is also a strong support as I have said previously then we may see signs of consolidation which will again dither the bears, but if European market falls then 5312 should give way for more selling opportunity.

Bye

 

[timepass]

On Monday NF opening below 5245 will be a very good sign for sellers

Did you mean 5345 ??

 

[kthakker0]

Did you mean 5345 ??

Yes it is indeed 5345, thanks for the correction

5345 is not only the close of previous 5 trading days but the low of 8th Feb 5343 which was the 1st important turning day.

Bye

 

[timepass]

5345 is not only the close of previous 5 trading days but the low of 8th Feb 5343 which was the 1st important turning day.

I see what you mean. So the last 5 days were flattening of the uptrend - either as consolidation or for breakdown.

 

[darshanshukla]

Hi KT,
Technical is always above my dear we should not blame technical but
Technical is like...
There are three kind of truths..
Your Truth,
My Truth &
The Real Truth..........
Believe in your truth if you feel it is from inside and stick to it,
so, there is always another day in market and there is ocean full of money
Happy trading ahead,
Darshan

 

[kthakker0]

Hi KT,
Technical is always above my dear we should not blame technical but
Technical is like...
There are three kind of truths..
Your Truth,
My Truth &
The Real Truth..........
Believe in your truth if you feel it is from inside and stick to it,
so, there is always another day in market and there is ocean full of money
Happy trading ahead,
Darshan

Hi,

Another day is for those who have missed the train today.

"Truth", mine or your's, does it matter, as long we make money.

Indeed there is an ocean full of money, and every trader / investor has one of the two thing in hand at the end of day, either it is profit or paper which had or may turn into profits.

We swim across this ocean every day with a hope to separate profit from paper, some succeed in taking the profits home while others wait for their paper to turn into profit

Bye

 

[kthakker0]

13/02/2012 Monday

Hi all,

Today's OP 5395 below Friday's CP 5398 is not a good sign for bulls, never the less 5411 is an important Gann resistance and 5391 a support as long as NF trades above it.

As you all know NF should reach it's lower target of 5362 today and trading below 5352 will make seller aggressive.

Bye

 

[kthakker0]

 

[kthakker0]

13/02/2012 Monday

Hi all,

I feel the present situation is the mirror image of what had happened during ADAG Reliance Power IPO, the market was kept buoyant till the IPO was not over. And if you see the data, market fell drastically there after.

This time it is UP election that is testing Congress's wits and legacy (Policies that fuel corruption, divide and rule by promising quota and killing competition, banking on black money to survive, using CBI against its political opponents)

Indian Government buys (Defense related equipment and / or other things of similar nature at the lowest price) but when it comes to providing Indian people the benefit of Low cost it auctions (3G) to the highest bidder.

Indian Financial condition are always in mess thanks to Gov non-professional ways of working with our financial system, like Keeping Licence Raj alive in one form or the other, Waivers, Negative External BOP, High Inflation most of the time, it only comes down when gov want's to, if inflation does come down our currency will definitely fall, which will always keep the price high, Fails to provide food security that too even after SC told them to do so at the earliest

All the above culminate in not getting the proposals in time and cost over run in each and every gov contract is a default norm and this has spilled in to private players as well.

Please provide your inputs where ever applicable.

Check out the link
http://economictimes.indiatimes.com...anks-abroad-says-cbi/articleshow/11871633.cms

And the fact is proven beyond doubt that Congress is not willing to bring this money back to India

Bye

 

[kthakker0]

13/02/2012 Monday

Hi all,

Today NF broke out from our forecasted range for a brief period and reached 5345
NF not reaching our today's low target of 5362 suggested that there is still place for NF to rise.

Till now I was writing about next day's range and focal point but from today I'll write about a point (just like today's 5362) which will indicate intraday sentiment

Tomorrow's range is same as today's 5430-5352 and 5372 is the sentiment indicator, NF trading above 5372 will have intraday momentum to reach the range high and NF trading below it, the low of the range.

This is a new finding that I have discovered, let's see how well it delivers from tomorrow.

Bye