I think Nifty futures topped out at 3405

#11
Nothing like hard figures to nip a conspiracy theory in the bud.. :)
My 2 penny's worth is that I don't see the NIFTY having done its top, as I am sure, even after the divergence appears, it can continue to be divergent for a while

I anyways believe in the school which teaches you not to anticipate tops, as it is the surest way to get murdered in a trending market.. taking profits, however, is a different thing.

Regards.
Yes!!!
however i dont beleive in estimating tops/bottoms , but meanwhile i have informed from Kolkata , nifty will touch 3424-30 in remaining days of this settelment.( dont take this info as my view or for trading guidence!!)
thanx and welcome
 
#12
As per Nse website , fiis have sold 13000 Crores in April and may , if we count june july and august adding it up they have bought worth of 1000 Crores maximum. Now the general feeling is that the market will go up , these are the times that we need to be really careful, go long no issues but with very very strict stops. I just hope none of us get stuck and then end of waiting for months for the market to return. Last year there was a similar rally which corrected in september and then we were back on track in october. Also to me the large cap valuations are not very attractive.

ps- market speaks in its own language it need not behave the way i expect it to behave, its just a view point
 
#13
Yes!!!
however i dont beleive in estimating tops/bottoms , but meanwhile i have informed from Kolkata , nifty will touch 3424-30 in remaining days of this settelment.( dont take this info as my view or for trading guidence!!)
thanx and welcome
All the way from Kolkata??!! Wow... looks like the Holy Grail of Trading lies there!! :D
 

SGM

Active Member
#14
Attached is hourly chart of nifty futures. there was negative divergnce wrt MACD which resulted in a sell off tilll last thursday. Now its regaining momentum. If NF can takeout 3400 then we may see a short and swift rally till atleast 3450 . Reliance,HLL,Tisco,SBI and the cement pack might lead the next round of rally.
Hello Tanewbie

What is the source of intraday data you are using?

You have been sharing some gr8 charts in the forum. Thank you for it and also for sharing the afl (3-5 EMA, support/ resistance).

Wish you successful trading


Warm Regards
Sanjay
 
#16
All the way from Kolkata??!! Wow... looks like the Holy Grail of Trading lies there!! :D
Have u seen nifty and NF levels today?
Nothing to say.I think u have got the Holy Grail of Trading--
Put aside ur all TA tools, Trade on Info which we do, and this comes only once or twice in critical times of settelment month. Be patience and wait for right info( breakouts in ur TA--isnt it.)!!!!
:D :D :D
 

tanewbie

Well-Known Member
#17
Hello Tanewbie

What is the source of intraday data you are using?

You have been sharing some gr8 charts in the forum. Thank you for it and also for sharing the afl (3-5 EMA, support/ resistance).

Wish you successful trading


Warm Regards
Sanjay
Hi Sanjay

I use yahoo as the source with PIB as back fill. If both fail then I hav e speedtrade as a final backup.

I used the 3-5 ema very well today
see chart of tisco. caught the rise from 509 to 525 and the fall from 530 to 519.
 
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#18
Have u seen nifty and NF levels today?
Nothing to say.I think u have got the Holy Grail of Trading--
Put aside ur all TA tools, Trade on Info which we do, and this comes only once or twice in critical times of settelment month. Be patience and wait for right info( breakouts in ur TA--isnt it.)!!!!
:D :D :D
Ok Cheak this Sensex Chart (Make Or Break):eek:
 
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#19
Hi Sanjay

I use yahoo as the source with PIB as back fill. If both fail then I hav e speedtrade as a final backup.

I used the 3-5 ema very well today
see chart of tisco. caught the rise from 509 to 525 and the fall from 530 to 519.
Mean Sharekhan ? If yes pl give some more detail for backup
Thanks in advance
Jay
 

SGM

Active Member
#20
Hi Sanjay

I use yahoo as the source with PIB as back fill. If both fail then I hav e speedtrade as a final backup.

I used the 3-5 ema very well today
see chart of tisco. caught the rise from 509 to 525 and the fall from 530 to 519.
Hi Again

I am mostly concerned about backfill only, have tried using cools sheet, it is working fine, but the problem is backfill facility for updating at eod. I guess the solution would be getting some commercial service for updating at end of the day, while using Yahoo/PIB/ODIN for charting intraday. This way the integrity of the historical data will be maintained.

Regarding ur 3/5 ema method it is giving very encouraging results when i back tested it on nifty index on daily charts. But when i used it to back test with the default data coming with AB, the result were not so good. Can it be concluded that the method will work well for trending markets, or maybe it works better with smaller time frames like as you are using with hourly charts.

BTW: Using your system on daily time frame, we would have got a signal on 25th July to BUY Nifty @ 3040.

Regards
Sanjay

PS: Tanewbie, please consider starting a seperate thread for sharing developements, feedback, diff charts and inputs for your system.
 
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