Best Time To Buy Nifty!

columbus · #11 5th July 2008, 11:59 PM

Quote:

Originally Posted by sanamtrade

plz have a look at the NIFTY pcr picture in the attachment

Before taking any decision AT LEAST have data for 3 month,taking a call based on just ONE month is not good.

sanamtrade · #12 6th July 2008, 06:54 AM

Quote:

Originally Posted by columbus

Before taking any decision AT LEAST have data for 3 month,taking a call based on just ONE month is not good.

What I am looking for is very short term trading opportunity....say 2 to 3days, for which data of one month is more than sufficient,say we r in the oversold position now, good time to buy.........depending on indicators..like slow stochastic as well as fast, RSI, MACD and candlesticks....may be my decision will not be as solid as someone who had taken into account the data of last 3 / 6 / 12 months....but yes we should see the longer time frame for deciding the price target rather than buy/sell signal........any difference of opinion on my views are welcome.......regards.........manas

sanamtrade · #13 6th August 2008, 11:26 PM

ready for another bout of down slide........

AW10 · #14 7th August 2008, 02:01 AM

All Global stocks are heading north. Dollar is getting stronger.
Oil and Commodities are going south. Isn't that what everybody wanted ?
Until NIFTY breaks 4200 pivot level, the trend is still up with Higher High / higher lows in place.
Stochastics crossover signs work fine in rangebound market but they don't work right during trending market. Look at Stoch / RSI charts of last year and you will notice that they spend signignificant amount of time in overbought area when trend is strong.

Like any profession, it is important to know about which tools to use and when. (In trading, which indicator under what circumstances).

Happy Trading

sanamtrade · #15 10th August 2008, 02:43 PM

Quote:

Originally Posted by AW10

All Global stocks are heading north. Dollar is getting stronger.
Oil and Commodities are going south. Isn't that what everybody wanted ?
Until NIFTY breaks 4200 pivot level, the trend is still up with Higher High / higher lows in place.
Stochastics crossover signs work fine in rangebound market but they don't work right during trending market. Look at Stoch / RSI charts of last year and you will notice that they spend signignificant amount of time in overbought area when trend is strong.

Like any profession, it is important to know about which tools to use and when. (In trading, which indicator under what circumstances).

Happy Trading

rightly said, but ultimately our own fundamentals will catch up...say inflation, general election, monetary policy and the glaring fact that we r under economic slowdown........technical indicators are just guidelines to aid in our decision making.......they r still derived from past data......have a look at the gravestone doji formed on 6th aug!!!....well i may be wrong in speculating that Nifty may correct.....thanx for the insight any way.....

Czar · #16 10th August 2008, 05:18 PM

Quote:

Originally Posted by sanamtrade

rightly said, but ultimately our own fundamentals will catch up...say inflation, general election, monetary policy and the glaring fact that we r under economic slowdown........technical indicators are just guidelines to aid in our decision making.......they r still derived from past data......have a look at the gravestone doji formed on 6th aug!!!....well i may be wrong in speculating that Nifty may correct.....thanx for the insight any way.....

The thing in seeing candlestick patterns is you should always need to follow the rules & which states (not only in case of Gravestone but all doji's) : "As significant as the doji is, one should not take action on the doji alone. Always wait for the next candlestick to take trading action."

AW10 · #17 11th August 2008, 12:44 PM

Quote:

Originally Posted by sanamtrade

rightly said, but ultimately our own fundamentals will catch up...say inflation, general election, monetary policy and the glaring fact that we r under economic slowdown........technical indicators are just guidelines to aid in our decision making.......they r still derived from past data......have a look at the gravestone doji formed on 6th aug!!!....well i may be wrong in speculating that Nifty may correct.....thanx for the insight any way.....

"Fundamentals will catch up.." but nobody knows when.. Fundtamentals don't have much role in short term trading. I used to have same belief but after paying good price to the market, I realised that for my trading timeframe (which is short term), technicals are my best friend. Fundamentals are too vague to take trading calls..but charts do work (and thats why all traders use charts as primary tool).. They look at fundamentals in the background but not for trading.

Will appreciate others view on this topic.

Happy Trading

Czar · #18 11th August 2008, 06:04 PM

Quote:

Originally Posted by Czar

The thing in seeing candlestick patterns is you should always need to follow the rules & which states (not only in case of Gravestone but all doji's) : "As significant as the doji is, one should not take action on the doji alone. Always wait for the next candlestick to take trading action."

Like I said next candlestick is more important than doji, so in fact it turned out to be a Bullish Rising Three Method

sanamtrade · #19 25th August 2008, 12:05 AM

Short Nifty on every rise........will touch July low again........

bjnaikhot · #20 25th August 2008, 09:20 AM

our indices are at a very very crucial stage,a stage from which they can either break-up or brak down,it looks as simple as that,but its not,,,coz. the upside seems limited atleast for medium term,,since there are very steep resistances that indices left while sleeping down from jan-08,,but my worries for the down-side !! if in next two weeks indices cant stop going down..they will be surely either going to break the july-08 lows or atleast test those lows at 12500--3790 for sensex -nifty.and if the major supports at 11907-3600 by max. are not held..they will not only moove down faster but the time they will take to recover will be far more than a normal investor hopes.and my views of our markets just passing on time { 2-3 years may be} in a broader range will be in danger.ideally if indices starts mooving up on weekly closing basis from next week or two,than their will be fair chances of reaching them up-to even 17100--5300 range..if that happens than they will suely enter into a very broad range ,,A CORRECTION THAT WILL PASS-ON MORE TIME,,THAN A CORRECTION MORE SEVERE PRICE WISE..

Next week will be{ as per my gutsy feeling,} a decider week,in terms of clearity that weather this is a bear market rally only or its an upmove ,as a part of larger corrective rally..which will ultimately put indices in a higher orbit, after sideways corrective phase..august -08 is crucial as a month since its an eigth month {a fibonacci number} from the top.

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