My System - My trades.

[varunkochhar]

After a gap up opening if the price sustains for first 1 hour,usually the market builds on the gap opening and today by 11-11:30 it was clear on the charts that we are going to see higher prices....be it OBV,pivots,VWAP all pointing to an upmove...

Smart_trade

Yes ST ji, i took remedial measures after the 1st minute itself because of the PDC line and TradeNiftyBull helped me to come out of my bias. There was nothing that could be done about the Gap Up though. In fact i was the first to genuinely compliment him today during Pre-Market only because his studies could make him see the Big Gap up. Need to learn a lot from other people.

 

[checkmate7]

BNF most likely will gap up due to NPA approval...Looks like it can make new high

 

[john302928]

Dear varun kochhar
I expect Nifty to grind between 9304 to 9279 for few more hours and then break below 9279 and then will reverse and go above 9324. Do you sense anything the same from OBV. Please share your views. Thanks

 

[varunkochhar]

John ji i would answer you later. Just came to tell that Reliance has a Good support at 1320. Could reverse from these levels. Can buy any call also with SL of close below 1320. I could be wrong in my assesment too.

 

[john302928]

I am not sure how your figured out the support. may 10-15 rs could be a pullback but the downtrend is still place. Better be cautious.This is just my view. and I could be wrong but I feel I am not

 

[timepass]

I am not sure how your figured out the support. may 10-15 rs could be a pullback but the downtrend is still place. Better be cautious.This is just my view. and I could be wrong but I feel I am not

Perhaps an EW chart for the same in "General Trading Chat" thread ?? Maybe Varun's system is showing support, but your system says something else ??

 

[varunkochhar]

This is a 1min.compressed charts of OBV of Reliance. We are at the support Zone from where the last uptrend began. John ji i can be 100% wrong. But i am taking my chances.

 

[varunkochhar]

This is the price chart with OBV in compressed mode. You are right in your understanding that as per price we have broken below a significant pivot (from where the uptend started) but if you observe carefully, we are at OBV support leading to a divergence trade. I am just pre-empting a move though it is always better to take a confirmation from price. But that confirmation from price is very far off (Today's high of around 1368) so i am taking my chances.

 

[backbench]

upload imagescertificity.com

Reliance closed below 36 ema.

 

[john302928]

Where are you discussing Crude, I would like to take part in the discussion. I feel Crude might retrace the morning rally completely.This is what i feel at the moment, as time goes by lets reassess