Trade with options data

[kiranjakka]

I did..! Thanx kiran....! Puts ran like crazy in the last min.. Squared off 3 lots in the last min and still holding one..! Can v see some more downside in ITC..??

yah i think so its just the beginning

 

[Tharu]

yah i think so its just the beginning

Cairn India didnt move much today other than the gap up.. And am holding my long position in DLF..! just 2 lots.. wat do u think..??

 

[kiranjakka]

Cairn India didnt move much today other than the gap up.. And am holding my long position in DLF..! just 2 lots.. wat do u think..??

i see limited upside on cairn if at all and dlf watch out put options at 210 if oi starts building up then it is good to be long or exit :thumb:

 

[kiranjakka]

 

[ashish2010]

nice informations in this thread.... I hope I can get some information from here...Cheers!!!!!!!

 

[kiranjakka]

Harmonic Bat Pattern-----------BEARISH BAT

The harmonic bat pattern was discovered by Scott Carney in 2001. Carney maintains it is one of the most accurate patterns, and requires a smaller stop loss than most other patterns.

This is one of the retracement patterns (along with the Gartley Pattern) - and is a deep retest of Support (in the case of a bullish Bat) or Resistance (for a bearish bat) around the X level. The D level reversal will be at the .886 XA retracement in the PRZ.

If a Bat fails - it can often "morph" into a Crab Pattern where the D point exceeds the X point.

This pattern usually has an extended CD leg which is 1.27 Fibonacci extension of the AB - providing a favourable risk/reward.

Systematic tests by FxGroundworks, have shown the Bat pattern success rates to be 89%-95%.

Validity of the Bat Pattern

To check the validity of the Bat Pattern, the traders and investors should see that the D point do not exceed the X point because if it exceed the X point then in this case the Bat Pattern fails and turns to a Crab Pattern. An extended AB=CD Pattern where the CD side is 1.27 of the AB side. If AB and CD have same length in AB=CD then also the pattern is valid but is a minimum requirement condition for the pattern to hold validity.

Accuracy of the Bat Pattern

This pattern holds high degree of accuracy and need stop loss smaller as compared to the other patterns. Little guesswork is required in this pattern because this pattern depend on fixed Fibonacci numbers. The CD side or the third side of the Bat Pattern has Fibonacci Extension of 1.27 of the AB side.

How to trade in the Bat Pattern?

It is advisable to the Traders and investors to place their stop loss above the 0.886 price retracement level of the side XA in this pattern. Traders can also place their stop loss above the point X in this pattern because above the point X, a strong Support level is present in the Bullish Bat Pattern and a strong Resistance level is present in the Bearish Bat Pattern. For example, see a figure below in which XABCD represents the Bat Pattern.



SO SHORTERS ALL STOPLOSSES ABOVE 5340 LEVEL ABOVE WHICH YOU HAVE TO REVERSE YOUR TRADES :thumb:

 

[Tharu]

Hello kiran..! See the change in OI in ITC puts..? So ITC is nearing its downtrend..??

 

[kiranjakka]

Hello kiran..! See the change in OI in ITC puts..? So ITC is nearing its downtrend..??

ITC I THINK HAS SUPPORT AT 235 TILL THEN ITS IS A SELL FROM MY SIDE :thumb:

 

[dhootankur]

In Bat and Gartley C never crosses X na??

 

[Tharu]

Can DLF see more upside..?? I have squared off 1 lot and still holding 1..! And is it good to carry any positions overnight with nifty being so whimsical..?