Nifty Futures Trading

aca_trader · #**1961** 19th March 2008, 01:38 PM

Quote:

Originally Posted by milind

Saint, uasish, Ashish

I want to know how you folks decided that this was a reversal time around noon time, 4640-4660, when an ignoramus like me was thinking this is just a rest stop during intraday down trend. Agreed that little after noon, there were signed to question continuation of the downtrend, but am not sure what gave confidence that uptrend is going to start.

-- Milind

Well! I was not knowing myself whether it's a reversal time. If you go through this thread, you will find me mentioning 4620-4630 time & again. That is a monthly trendline level since the uptrend started in 2003. Hence, when market came to that particular level and the high of 5 minute bar which was touching lower boundary of Bollinger Band was broken, I went long with the stop at 4620 in Cash. If that level is breached, I will be out of this trade else it's run its course.

Regards,
--Ashish

uasish · #**1962** 19th March 2008, 01:39 PM

Milind,

Quote:

Originally Posted by aca_trader

Well! I was not knowing myself whether it's a reversal time. If you go through this thread, you will find me mentioning 4620-4630 time & again. That is a monthly trendline level since the uptrend started in 2003. Hence, when market came to that particular level and the high of 5 minute bar which was touching lower boundary of Bollinger Band was broken, I went long with the stop at 4620 in Cash. If that level is breached, I will be out of this trade else it's run its course.

Regards,
--Ashish

http://www.traderji.com/equities/189...tml#post165193

Hope this clarfies.

Asish

aca_trader · #**1963** 19th March 2008, 01:43 PM

Quote:

Originally Posted by nagendra_gb

Sometimes i feel sentiment will act more than technicals. Since there are three days holidays people are not taking any position

Sentiments give birth to technicals. This level is the boundary between bulls and bears on a weekly closing day. Bulls will certainly try to defend it at the weekly close. Afterall, OI is highest for 4600 put for this particular reason only and hence even when Sensex has breached every support, NIFTY is yet being maintained.

new2sm · #**1964** 19th March 2008, 01:48 PM

europe has opened in positive.

aca_trader · #**1965** 19th March 2008, 01:49 PM

Quote:

Originally Posted by adilsaleem

yen is back to 99. Advanced tax figures were good. Global cues are also good. Whats stopping the market ??

De' Bears.

milind · #**1966** 19th March 2008, 01:59 PM

Quote:

Originally Posted by aca_trader

Well! I was not knowing myself whether it's a reversal time. If you go through this thread, you will find me mentioning 4620-4630 time & again. That is a monthly trendline level since the uptrend started in 2003. Hence, when market came to that particular level and the high of 5 minute bar which was touching lower boundary of Bollinger Band was broken, I went long with the stop at 4620 in Cash. If that level is breached, I will be out of this trade else it's run its course.

Regards,
--Ashish

Okay, thanks

-- Milind

Saint · #**1967** 19th March 2008, 02:05 PM

Added more at 4668...

Saint

Saint · #**1968** 19th March 2008, 02:06 PM

Milind,

After market sometime....

Saint

Ajax · #**1969** 19th March 2008, 02:09 PM

Laptops charger konked off.
Has shorted @ opening.
Covered shorts @ 4655.
Now long . Day's low is SL

Ajax

adilsaleem · #**1970** 19th March 2008, 02:10 PM

once 4683 is taken out 4745 , then 4808 ... 80 minutes left. Lower side 4621 is the big point right now