Nifty Futures Trading

uasish · #1 20th January 2008, 10:25 PM

There is a definite change of Trend & Sentiment in the Mkt.A downtrend is on progress.Once again the
need of the hour is to determine the faith of the Long term Trend.All studies are absolutely Subjective.
Nifty Fut is going to scale 7300 in months to come,prior to reaching that the down side is
much more to come from present level.There be no ambiguity in this that we may see 400 to 500 points
down side from here.
All Up or Down is basically in Wave type nature,there is no straight Up or Down,hence any 100-200 points
Rally should not deceive us that the down side is halted,until we get definite indication ,presently the
major trend is Down.
These observations are extremely subjective in nature & many a time these observations are found to be
wrong in the past.
It may be noted that we are in 4th Down Wave,where the minor waves are unfolding.

Present levels to watch:=

5686.20 was the earlier support.
5830.95 is now the Resistance area.
5762.44 (on closing basis) is the Critical balance Price.

CreditViolet · #2 20th January 2008, 10:50 PM

Its not 'what' but 'when' that matters

anjubhatia · #3 20th January 2008, 10:56 PM

Quote:

Originally Posted by uasish

There is a definite change of Trend & Sentiment in the Mkt.A downtrend is on progress.Once again the
need of the hour is to determine the faith of the Long term Trend.All studies are absolutely Subjective.
Nifty Fut is going to scale 7300 in months to come,prior to reaching that the down side is
much more to come from present level.There be no ambiguity in this that we may see 300 to 400 points
down side from here.
All Up or Down is basically in Wave type nature,there is no straight Up or Down,hence any 100-200 points
Rally should not deceive us that the down side is halted,until we get definite indication ,presently the
major trend is Down.
These observations are extremely subjective in nature & many a time these observations are found to be
wrong in the past.
It may be noted that we are in 4th Down Wave,where the minor waves are unfolding.

Present levels to watch:=

5686.20 was the earlier support.
5830.95 is now the Resistance area.
5762.44 (on closing basis) is the Critical balance Price.

Dear sir,
educative post. i think we shud more cautious before putting our hand in trade

uasish · #4 21st January 2008, 12:11 AM

faltub,

One of the Gr8 trader of our forum ,Jesse has rightly pointed out the folly,it is not the 'Y' axis (Price) but the 'X' axis (Time) in the chart which is also important.
Any points coordinate requires both axis.

Asish

anjubhatia · #5 21st January 2008, 12:13 AM

Ashish da,
in present situation wats ur view that in worst condition nifty can reach upto wat level...........
However wat i feel that this type of fall in index & that too steep fall in stocks never remain fr more than three days during last 4 months.
Stillour market is bullish so wat i feel nifty has following resistance-
1. 5850
2.5930.
3.6000.
wats ur sharp observation?

karvy · #6 21st January 2008, 06:53 AM

dear ashish,

there is nothing wrong with Indian stock market at present . You are absolutely right in predicting 7300 level for nifty futures in the coming months. The "when" , I hope will be sooner than later.

karvy

uasish · #7 21st January 2008, 09:12 AM

Many a times E-Wave / Gartley / Wolfe / Cycle ;do not work.We all know that & we are more interested in the prevaling Trend so as to trade along with it until it reverses.Let the Long Term unfold as the Price traverse through the 'X' axis,in the mean time these are the Critical Balancing Price Point in different Time-Frame ,which i will watch to take the cues.
All these are on Closing basis only.

Presently on Weekly chart :=
Any closing above 5976.75 may trigger a change from (-)ve to (+)ve Trend.
Earlier Support is at 5686.20.

On EoD :=
Any closing above 5875.35 may trigger a change from (-)ve to (+)ve Trend.
Earlier Support is at 5700.00.

On 30mins :=
Any closing above 5742.25 may trigger a change from (-)ve to (+)ve Trend.
Earlier Support is at 5700.00.

Last Closing = 5730.35

uasish · #8 21st January 2008, 09:25 AM

Quote:

Originally Posted by karvy

dear ashish,

there is nothing wrong with Indian stock market at present . You are absolutely right in predicting 7300 level for nifty futures in the coming months. The "when" , I hope will be sooner than later.

karvy

karvy,

'Prediction' in Capital Mkt is undesireable we will come to know as the time unfolds but we have to have a general view ,at the back of our mind ,so looking at Weekly / Monthly charts this is a general subjective view.
Regarding the 'When' part ,it is beyond my capabilities to zero on any axis ,whether it is Price or even more so in the time axis.
However by next Monday (28th Jan) the picture will be more clear.

Asish

MiLiNDOnline · #9 21st January 2008, 10:24 AM

Quote:

Originally Posted by uasish

faltub,

One of the Gr8 trader of our forum ,Jesse has rightly pointed out the folly,it is not the 'Y' axis (Price) but the 'X' axis (Time) in the chart which is also important.
Any points coordinate requires both axis.

Asish

Hi Asish,

Suddenly it looks like - BUY to BYE for markets for many of us!

In your views for how many days you think we can see this market fall, and if market has to bounce back from here then what are the possibilities, as many many peoples (even from us on this board) have suffered huge losses... According to you does this Trend is likely to continue till Feb -08?

And the most important fact we are seeing is - Share prices are breaking like anything look at Nagar Fert, RNRL, VideoCon Indus etc.. Huge losses.

It takes time to gain from market, but it doenst take make than few days to loose EVERYTHING.

Awaiting for your reply on this.

Regards,

amitt29 · #10 21st January 2008, 10:33 AM

Quote:

Originally Posted by uasish

Many a times E-Wave / Gartley / Wolfe / Cycle ;do not work.We all know that & we are more interested in the prevaling Trend so as to trade along with it until it reverses.Let the Long Term unfold as the Price traverse through the 'X' axis,in the mean time these are the Critical Balancing Price Point in different Time-Frame ,which i will watch to take the cues.
All these are on Closing basis only.

Presently on Weekly chart :=
Any closing above 5976.75 may trigger a change from (-)ve to (+)ve Trend.
Earlier Support is at 5686.20.

On EoD :=
Any closing above 5875.35 may trigger a change from (-)ve to (+)ve Trend.
Earlier Support is at 5700.00.

On 30mins :=
Any closing above 5742.25 may trigger a change from (-)ve to (+)ve Trend.
Earlier Support is at 5700.00.

Last Closing = 5730.35

I would look for 5300 if it ever comes to that.

The Following 2 Users Say Thank You to uasish For This Useful Post:
ashok sharma (3rd August 2008), s.j.kumaar (29th August 2008)

The Following User Says Thank You to CreditViolet For This Useful Post:
DEEPA GULERIA (4th September 2008)