Nifty Futures Trading

deb99891 · #**4161** 24th April 2008, 10:42 PM

Quote:

Originally Posted by sunbim31

May be Nifty is coming down to fill up the gap at 4985.
See attached chart

Sunando

yes sunanda da
that is the thing
but roof 5020-5030 (then 5150)
and floor 4950-4960 (or 4920-4930 may be )
gravitation power may be more.
waiting for ur valuable opinion

rkkarnani · #**4162** 25th April 2008, 09:19 AM

Interest observation (read on the Net by Deepak Singh)
"Life is really simple, but we insist on making it complicated."

Price, Volume and Common Sense

"How many legs does a dog have if you call the tail a leg? Four! Calling a tail a leg doesn't make it a leg."....Abraham Lincoln

We see and hear this too often in markets. There are millions of technical indicators that have been developed to call a tail a leg. I am not painting all technical indicators with the same brush but most of them are no good. It only leads to poor trading experience and results. After going through number of indicators, I reached a conclusion - it is much better to stick to Price, Volume and Common Sense (the most difficult indicator). There is saying - "Price and Volume are fact, and everything else is a distorted version of the two".

The market requires you to be much more objective most of the times even if that means a long wait. It pays to wait for clear signals than interpret confusing signals. The moment we start looking at technical indicator that's what we attempt to do - fall in trap of confusing signals and make wrong trades. If the trade is successful, it's generally more luck than design, though we want to believe the other way.

Even common sense is very difficult to trust because emotions destroy common sense.
Most of the times I have found - the common sense indicators tells - just keep quiet and do nothing. But the urge to trade and prove that I am smart - we make stupid mistakes.

Right now - Nifty is trading in a small band with no directional bias....period. We need to respect this and wait till Nifty gives a directional move. The key to trading is not to argue with it, but try to take advantage of the moves that it makes. Right now, there are plenty of reasons (event risks) to stay patient and let the market decide where it wants to go. Easier said than done.

uasish · #**4163** 25th April 2008, 09:21 AM

Nifty Fut EoD ,
1)Day before yesterday the 'Markov Chain' has indicated 5043.65 would have been yesterday's closing price,which it did'nt & today it's indicating the close to be 5031.10,if it cant then the 60 min (chart posted earlier) indicating a short term down swing gets validated.
2) The Bear's Short Squeeze Price for Day before yesterday (indicated for yesterday )was 5103.60 ,so Shorts with that as Stop has entered & today's Short Squeeze Price is 5053.55 .
3) The Candle is Black for 2 consequetive day & the 'Rising Window' indicated by 21st's Candle,indicating a Sell off to the window is highly probable.

All these not conducive for Longs.

satya_pinku2003 · #**4164** 25th April 2008, 09:31 AM

Quote:

Originally Posted by renu daga

well nifty in intra day correction was at its close trend line supp of 4992...once broken,,teh final support is 4860...
well i think one can go short...afte vreaking of 4950 the previous pivot which i think is in eod chart...

renu
dow rgt now is up
but technically our mkt needs some correction,,,and if it does not take with sentiment on view,,then we can see 5150

renu

Dear Renu madam .. i am sharing one of my exp in past ... as inthe chart attached after correction nifty moved up sharply then consolidate for a week .. then most of us thought it was distribution and may correct by breaking lower trend line of consolidation .... but after FED declaration it break out with a blast around 200 point nifty and most of us could not take the trade and were still hoping market may correct then see it never looked back ....

Regards
Satya

satya_pinku2003 · #**4165** 25th April 2008, 09:39 AM

Quote:

Originally Posted by rkkarnani

Interest observation (read on the Net by Deepak Singh)
"Life is really simple, but we insist on making it complicated."

Price, Volume and Common Sense

"How many legs does a dog have if you call the tail a leg? Four! Calling a tail a leg doesn't make it a leg."....Abraham Lincoln

We see and hear this too often in markets. There are millions of technical indicators that have been developed to call a tail a leg. I am not painting all technical indicators with the same brush but most of them are no good. It only leads to poor trading experience and results. After going through number of indicators, I reached a conclusion - it is much better to stick to Price, Volume and Common Sense (the most difficult indicator). There is saying - "Price and Volume are fact, and everything else is a distorted version of the two".

The market requires you to be much more objective most of the times even if that means a long wait. It pays to wait for clear signals than interpret confusing signals. The moment we start looking at technical indicator that's what we attempt to do - fall in trap of confusing signals and make wrong trades. If the trade is successful, it's generally more luck than design, though we want to believe the other way.

Even common sense is very difficult to trust because emotions destroy common sense.
Most of the times I have found - the common sense indicators tells - just keep quiet and do nothing. But the urge to trade and prove that I am smart - we make stupid mistakes.

Right now - Nifty is trading in a small band with no directional bias....period. We need to respect this and wait till Nifty gives a directional move. The key to trading is not to argue with it, but try to take advantage of the moves that it makes. Right now, there are plenty of reasons (event risks) to stay patient and let the market decide where it wants to go. Easier said than done.

Thank you very much

regards
Satya

uasish · #**4166** 25th April 2008, 09:41 AM

Nifty Fut Long's Stop is way below,risk /reward is not favourable now but can be better only above the Short Squeeze .

SavantGarde · #**4167** 25th April 2008, 09:45 AM

Now That NF Has Close Above 4980 Next Resistance Is At 5165 ~ 5278 ~ 5380 For This Month

SavantGarde

milkyblack · #**4168** 25th April 2008, 09:51 AM

Quote:

Originally Posted by rkkarnani

Interest observation (read on the Net by Deepak Singh)
"Life is really simple, but we insist on making it complicated."

Price, Volume and Common Sense

"How many legs does a dog have if you call the tail a leg? Four! Calling a tail a leg doesn't make it a leg."....Abraham Lincoln

Even common sense is very difficult to trust because emotions destroy common sense.
Most of the times I have found - the common sense indicators tells - just keep quiet and do nothing. But the urge to trade and prove that I am smart - we make stupid mistakes.

Right now - Nifty is trading in a small band with no directional bias....period. We need to respect this and wait till Nifty gives a directional move. The key to trading is not to argue with it, but try to take advantage of the moves that it makes. Right now, there are plenty of reasons (event risks) to stay patient and let the market decide where it wants to go. Easier said than done.

Well, its the addiction to trade that makes a person trade, even on non trading day... tats why there are so many traders trading everyday...
As u have mentioned Sir... its easier to say than to follow...

Even I am a learner of Technical Indicators...

Regards

milkyblack · #**4169** 25th April 2008, 09:53 AM

Quote:

Originally Posted by uasish

Nifty Fut Long's Stop is way below,risk /reward is not favourable now but can be better only above the Short Squeeze .

Ashish Da,

Lets see wht happens today... holding a postional short trade since yesterday at 5055...

Would trade Intraday today and for the postional SL is at 5100

Regards

gkpc · #**4170** 25th April 2008, 10:05 AM

Kolkta meet indicator gives a buy abobe 5050.20 but SL is far away, not taking the Trade!!!