The Nifty Trading Lounge

[anayash]

Hang in there, Anayash. The correction back to the point of the TL break has been completed, but it does not mean the entire correction has been completed. It could go sideways before we get another drop, which will take us into next week.

sure...it can go lower...m keeping an eye on 5210(spot) level!

 

[adityasaraf007]

I recall probably Last FEB when we had the Chat Room active ..,
ST mentioned " One of these days SAINT would be here ".....,
And People in the chat room Got excited...
Asking ST "This week " , Next ......

Now I think its been almost 365 days .....to Finally see him around ....

Nah..... Saint Sir was here about 3months back.... On 29th and 30th Nov....

Here's the link

 

[Smart_trade]

Saint has been on TJ number of times in last one year. He does not post due to pre-occupation with his own trading,other forum /FB committments....he is very much around and he thanked a few posts in past too.....but he posted after a long long time...

Smart_trade

 

[4xpipcounter]

Jesal, it is clear the trend has reversed because of the break of the weekly TL. The only thing that would change that is volatile price activity, which in trading, is the opposite of predictable price activity (Only in terms of price action and market symmetry.). What would have to happen for all this to change with regards to the UP reverting back to the DOWN for lower lows is the most improbably scenario, and that is a weekly close under the TL.

The formidability is not the level, but the TL itself. When it comes to TL's, all spikes are allowable. The only thing you are looking for is the candle to close above the TL at any point after it corrected back to the point of the TL break, such as what happened on Monday.

I think Sudoku has 5252 on his radar. Mine is 5275. Considering the properties of the TL, both of our numbers could be hit, and we would both be right. I'm saying that because it is important to know the nature of the level we are talking about. If this was a swing low or high we are talking about, the slightest spike is not allowed.

I mentioned in Smartrade's thread consolidations are going to be expected before the next strong move north. The 4-hour TL was broken, so it need to be corrected, then a further move south, all the while the weekly to contain.

So 5275 is just an containment..and it would depend on price action if it was a containment or a formidable level?

 

[reachjesal]

Paul, your weekly TL was already hit? today's low was 5268? is it possible that after the 4 hour TL is broken it does not correct back to the TL and instead hits the weekly TL? can you please tells us where your weekly TL is at present? thanks

Jesal, it is clear the trend has reversed because of the break of the weekly TL. The only thing that would change that is volatile price activity, which in trading, is the opposite of predictable price activity (Only in terms of price action and market symmetry.). What would have to happen for all this to change with regards to the UP reverting back to the DOWN for lower lows is the most improbably scenario, and that is a weekly close under the TL.

The formidability is not the level, but the TL itself. When it comes to TL's, all spikes are allowable. The only thing you are looking for is the candle to close above the TL at any point after it corrected back to the point of the TL break, such as what happened on Monday.

I think Sudoku has 5252 on his radar. Mine is 5275. Considering the properties of the TL, both of our numbers could be hit, and we would both be right. I'm saying that because it is important to know the nature of the level we are talking about. If this was a swing low or high we are talking about, the slightest spike is not allowed.

I mentioned in Smartrade's thread consolidations are going to be expected before the next strong move north. The 4-hour TL was broken, so it need to be corrected, then a further move south, all the while the weekly to contain.

 

[4xpipcounter]

Me and Tucker just got back from jogging. Either he's getting faster, or I'm out of shape. The answer could be (c): All of the above.

Jesal, as you can see on my chart the closing price is 5324, so we do have a discrepancy. The level for when the candle crossed the TL was 5325, so that part of the journey has already been taken care of.

Current level of the weekly TL is 5266, and it will contain. (Remember the definition of containment as it pertains to TL's).

The 4-hour UP was broken on Monday, and it needs and will be corrected to at least 5484. After it is corrected, there will be a further dip, and then the journey north resumes.

image host

Paul, your weekly TL was already hit? today's low was 5268? is it possible that after the 4 hour TL is broken it does not correct back to the TL and instead hits the weekly TL? can you please tells us where your weekly TL is at present? thanks

 

[bullhunter]

Hi,
im new to traderji and need some help with my positions in the futures market....i have 3 long positions in crompton greaves@ 165, south indian bank @ 27.45 and m&m @ 700 all march series , i am running in huge losses and booked two of my long positions in gmr infra and sintex in huge losses....can anyone help? tnx

 

[ludus]

A good thumb rule in trading.. if you have to ask somebody else, first Exit ALL your positions.

 

[4xpipcounter]

Bullhunter, I see you copied and pasted this query in several threads. I answered it for you. I think it was at Nifty50 Trends.

Hi,
im new to traderji and need some help with my positions in the futures market....i have 3 long positions in crompton greaves@ 165, south indian bank @ 27.45 and m&m @ 700 all march series , i am running in huge losses and booked two of my long positions in gmr infra and sintex in huge losses....can anyone help? tnx

 

[Taurus1]

Yesterdays shorts!!