My Trades and Notes

Bhai
You are more experienced and learned than me
But I feel the comparison of volumes of these 2 days is not right.
Friday was more or less a panic day, so traders clears off their position, so the excess volume.
And today the traders were in a fix to go along with the rise, so decided for a no trade day, hence less volume.
Now if NIFTY zooms today, (though 8899-8909 is a concentration zone) once above 8909 then you will find extra ordinary volume.
 

sanju005ind

Investor, Option Writer
I am no expert But i also see that the Nifty PE is around the 23 mark.It usually comes down from around 23-24 mark to 18-19 levels.But as always trade what you see not what you think.
 

karthik_sri

Well-Known Member
Bhai
You are more experienced and learned than me
But I feel the comparison of volumes of these 2 days is not right.
Friday was more or less a panic day, so traders clears off their position, so the excess volume.
And today the traders were in a fix to go along with the rise, so decided for a no trade day, hence less volume.
Now if NIFTY zooms today, (though 8899-8909 is a concentration zone) once above 8909 then you will find extra ordinary volume.
Bro,
I am no expert:) learning VPA and trying to predict:D!
All the attempt made to go up was made on low volume! look at the big elephant green bar on 01.02.17 where the Volume is more than average and after that it was moving in sideways forming Doji/Hammer/Hanging man pattern at top with below average volumes giving picture of indecsion/weakness! As i was expecting a Gap UP will happen above 8800 zone and to close above 8800 with average volume but it opened above with a gap up on 8800 but closed RED with high volume. The short traders who were holding short at 8800 zone will cover up now with this Bull move. To have a real bull move in phase we should have a volume more than average volume on UP MOVE which has to happen!

Am expecting one more TEST with low volume to confirm UP MOVE!

Just sharing my views!:) Let's see what happens!
 

karthik_sri

Well-Known Member
NIFTY (Index) today was a Doji candle formation with Volume more than Avg Volume! This happened at Resistance area! On weekly charts almost 3 days over with GREEN candle but Volume is not promising and the Volume is very low compared to last few weeks volume! On weekly chart it is in the Resistance area! We have another 2 days to close the week. Let's see where it goes.

 
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