General Trading Chat

[onequorauser]

No, never noticed.

I am just fascinated by it so I look at it. I also look at 100ema but it hasn't shown anything special recently.

Not necessary. Maybe there would be a range strong enough to raise the average. Not right to trade contra in these times. Also, we have had 3 sessions when the 3ema has left banknifty spot.

In case any one is interested

 

[ncube]

Market momentum is showing that we probably are out of “no follow up” stage and starting to trend...charts are showing that we are trending upwards.Todays move is not one day up and one day down type of move....

Smart_trade

Yes quite interesting, also the momentum is seen across the board including smallcaps, not sure what is driving it maybe the earning expectations or people have started seeing value at this level?

 

[vivektrader]

Market momentum is showing that we probably are out of “no follow up” stage and starting to trend...charts are showing that we are trending upwards.Todays move is not one day up and one day down type of move....

Smart_trade

I also read similar views from Ashvini Gujral, but sir, for learning purpose what made you reach that conclusion?
Is it a breakout from the range or something else?

Vivek

 

[cloudTrader]

That is possible in options as the price in options sometimes preceeds the price on spot. So basically if you had a situation where your option price spiked suddenly and took your stops out and the charts confirm this spike, then I think its kind of ok

Actually while writing Options I do not take the help of charts so didn't take notice of chart data but this never happened before even after quite a bit of volatility. I have been writing Weekly Options since a long time. This case was a very strange one for me. Weathered quite a lot of volatility while selling options earlier but this was a novel experience.

 

[headstrong007]

I also read similar views from Ashvini Gujral, but sir, for learning purpose what made you reach that conclusion?

Is it a breakout from the range or something else?

Vivek

You, don't need to follow any analyst. Paid Tips stars or Analyst never give the proper reason behind the logic.

Here is the reason,
It was a crystal clear strong breakout (green arrow) of a Vital Upper Trend line from Higher Time Frame Chart BANK NIFTY.

Whatever TF you trade intraday always keep an eye on HTF. Such HTF breakout gives low risk(small stop)-high reward the jackpots.
There was a choppy move near that resistance of that channel (market was chopping rapidly both sides for two days as expected),
then a sudden clear breakout with the gap up opening.

 

[wisp]

Pratapvb is trading regularly.He may not be logging in the forum.

Smart_trade

Thank you so much ST Da.

 

[wisp]

Where were you missing all these days/months?

Vivek

Taking a break from trading bro, will be back soon.

 

[TradeJoker]

Bulls beware,

 

[ncube]

I also read similar views from Ashvini Gujral, but sir, for learning purpose what made you reach that conclusion?
Is it a breakout from the range or something else?

Vivek

One simple way to analyze is to track the various indices as I have marked in the image below:

I have observed "Most Often" when the trend changes from down to up it first starts with largecaps, followed by midcaps and then finally smallcaps and when the trend changes from up to down it will be reverse with smallcaps first, followed by midcap and lastly the largecaps and this cycle continues. So when all the 3 indices are in the same direction the momentum can be considered strong and it is difficult to change it in a day or 2 unless there is some exceptional trigger.

However it does not mean that when the trend changes we are all in or all out, we need to enter/exit selectively and ensure proper risk management. We as technical traders need not wait for the root cause of trend change to be confirmed, if our analysis says the trend has changed we should already be on it else we will be left behind.

 

[cloudTrader]

Bulls beware,

I got beware !!