Trading Nifty

Gaurav Kumar · #**171** 8th August 2007, 07:36 AM

Quote:

Originally Posted by rkgoyal_98

Let me say one more thing. Huge gap down openings are preceded by some signals. Take the huge gap down opening the day following the CRR hike. Though i missed out on that the market would open with a huge gap downwards, the signal of the impeding market falls were clear from the market patterns.

similarly, today's close gives an indication of an impending rise.

Kindly tell us What are the patterns U are talking above for Gap down and impending rise. That will help us to look for such things in futures. It will be very good if you can open a new thread and discuss there all patterns.

Thanks
Rajeev

Rajeev,

As i have said in my earlier posts, my study includes psycology in addition to TA, fundamentals and economics. As a result the patterns do not come out of charts (though i do use many standard TA tools like RSI, Moving averages, ROC, etc.)

I believe that it is the big players who decide where the market is to head. What i do is to try and think as a big player would think.

So the patterns come out of psycology rather than charts..While TA can be taught, this is not easy to explain..All i can say is think like a big player...You can gain only if the larger population looses.... this is because secondary markets are nothing but transfer of wealth.... You can gain big only if many loose.. their loss should be small enough to keep them coming back and of course they should gain also once in a while or they would quit..

Think of how you would manipulate a gambling game if you have a rich but unskilled person in front of you. How would you manage to strip that person's wealth totally?... Think about Shakuni who duped Yudhistar into loosing everything he owned (if you have read Mahabharat carefully you would be aware that Shakuni once played with Yudhistar and lost heavily...that of course was delibrate but Yudhistar did not know.. So in the actual game later on Yudhistar remained never realised he was playing against a master manipulator)

That is what big players do...or at least that is my belief.

With best wishes,

Gaurav Kumar

uasish · #**172** 8th August 2007, 07:52 AM

Quote:

Originally Posted by rkgoyal_98

Let me say one more thing. Huge gap down openings are preceded by some signals. Take the huge gap down opening the day following the CRR hike. Though i missed out on that the market would open with a huge gap downwards, the signal of the impeding market falls were clear from the market patterns.

similarly, today's close gives an indication of an impending rise.

Kindly tell us What are the patterns U are talking above for Gap down and impending rise. That will help us to look for such things in futures. It will be very good if you can open a new thread and discuss there all patterns.

Thanks
Rajeev

Sometimes a simple traditional RSI can also show us.

http://www.traderji.com/106637-post329.html

Gaurav Kumar · #**173** 8th August 2007, 09:24 AM

Quote:

Originally Posted by uasish

Sometimes a simple traditional RSI can also show us.

http://www.traderji.com/106637-post329.html

I agree Asish,

The question is of reducing errors in interpretation. all these are simply tools which are to be used.

Gaurav Kumar

Gaurav Kumar · #**174** 8th August 2007, 09:31 AM

Dear Friends,

Markets to move up today . We plan to sell nifty purchased yesterday when the future reaches 4380..

with best wishes,

Gaurav Kumar

Gaurav Kumar · #**175** 8th August 2007, 10:05 AM

Dear Friends,

As i had been saying the market had to move up, it did.

As planned profit booked at 4380.

Now i have one long position left and the total position with respect to profit is looking very good.

Rest later

With best wishes

Gaurav Kumar

sikandar · #**176** 8th August 2007, 10:10 AM

Gaurav Kumar
How long we hold.
sikandar

Gaurav Kumar · #**177** 8th August 2007, 10:13 AM

Quote:

Originally Posted by sikandar

Gaurav Kumar
How long we hold.
sikandar

Dear Sikandar,

I have booked profit as planned but am holding one nifty which i had taken earlier. If you had purchased more than one nifty you may book profit on half of them and hold the rest

Depends upon your back up funds etc.

With best wishes,

Gaurav Kumar

sikandar · #**178** 8th August 2007, 10:31 AM

Gaurav Kumar
Ok thanks.
I have just one lot and i am following 30min chart as per my strategy is in still buy mode.

knarendra · #**179** 8th August 2007, 10:37 AM

Dear sir,
Sell Nifty future in 4395 and cover in end of day. Because, volume is low, and nifty +1.75%.

regards,
naren

kavidhev · #**180** 8th August 2007, 10:55 AM

HI Gaurav Kumar,

Your calls rocking. Made a good profit from your call. Thank you so much.

Please advice us how we can proceed further.

thanks,
Kavidhev

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