Nifty Futures Trading Part 2 (Positional)

[mitasatyajit]

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[mitasatyajit]

Heyyy where did the new 4430 TL come from ??

Parallal to downward deep shaded TLs.

 

[mitasatyajit]

Parallal to downward deep shaded TLs.

Make ur nifty hourly chart in log scale, u will find the same. see upward TL has broken.

 

[mitasatyajit]

I have absolutely no idea what that is or how to do that, though heard Sunil talk a lot about it... I am talking also the maroon line sloping downwards, not the new rising trendline, that was bound to break cant expect a vertical move...

http://www.traderji.com/general-trading-investing-chat/21384-sharing-trading-technique.html

You may find here. If any question, you can ask me there. I shall try to explain u there.

 

[lalpar]

Make ur nifty hourly chart in log scale, u will find the same. see upward TL has broken.

da u told that if it breaks 4448 we will go long...today it did cross 4448 and closed at 4445..

I guess u are trying to prove that we have to short instead of going with the flow...

 

[rishig38]

Make ur nifty hourly chart in log scale, u will find the same. see upward TL has broken.

satya, so you are still bearish? Even though I try to follow trends, my stop loss of 4404 hit yesterday and I reversed from there..But according to you, today's upward movement was just a false breakout and we might resume our downtrend?

Another things to take into consideration is the upcoming closing of the contracts. What effect will that have on the nifty? Should I close my longs now?

 

[rishig38]

satya, so you are still bearish? Even though I try to follow trends, my stop loss of 4404 hit yesterday and I reversed from there..But according to you, today's upward movement was just a false breakout and we might resume our downtrend?

Another things to take into consideration is the upcoming closing of the contracts. What effect will that have on the nifty? Should I close my longs now?

Another thing that I see from the Nifty Spot chart (attached image) is that the 9 day EMA acted as resistance for Nifty Spot. What is your suggestion now?

 

[mitasatyajit]

da u told that if it breaks 4448 we will go long...today it did cross 4448 and closed at 4445..

I guess u are trying to prove that we have to short instead of going with the flow...

Nifty closed today at 4415.75 and high 4434.90. I think u r talking about nifty fut which closed at 4445. This chart is based on spot nifty not future.

The next part of ur question will be answered after I can download my EOD data.

With love. Regards.

 

[mitasatyajit]

satya, so you are still bearish? Even though I try to follow trends, my stop loss of 4404 hit yesterday and I reversed from there..But according to you, today's upward movement was just a false breakout and we might resume our downtrend?

Another things to take into consideration is the upcoming closing of the contracts. What effect will that have on the nifty? Should I close my longs now?

Your question will be answered after receipt of my EOD data.

Regards.

 

[rishig38]

So Rishi, did the 60 mins thread help you ?

Yes it definitely did. But since I am new to trading, I didnt follow strategy when adding shorts so I lost all my profits since I got greedy and added double to my short position but Nifty bounced and hit my S/L.