My System - My trades.

[varunkochhar]

Markets not looking good. We have shed more than 15% in open interest(OBV) from thursday's high.

 

[varunkochhar]

These volumes need to comeback for the sustained uptrend to continue, else it would be construed that there was distribution on thursday.

 

[varunkochhar]

Almost 20% open intrest shed in BN from thursday's high.

 

[sabhlok_r]

yesbank both obv and price break down 200ema in 15 min.

 

[varunkochhar]

I expect the markets to go down further. No positional buy below 20790.

 

[cepetrading]

Yes sabhlok_r,

YesBank was a screaming sell today in 5 mins also ....

Sell came around 2:25 and price was @ 1435 levels

 

[balatrader]

Varunji,

I got buy signal in bnf future at 1.30 pm i bought one bnf future and one PUT 20800pe when trade was going against i bought another 20800pe .

bnf future 20770 long x 1
20800pe 172 long x 1
20800pe 193 long x1

bnf future went nearly 100 points down , but i came out with minimum loss.

is there anyother way to tackle this.

 

[varunkochhar]

5min. OBV breaches its earlier lows. Trade cancelled.

1st cue to take short trades only.

 

[varunkochhar]

So keep your trading simple. But now time to be cautious as you can see a big divergence between price and OBV in these charts. Price made a higher high but volumes(OBV) did not and the OBV has made a lower low in 5min.charts as well. Whether this would be a retacement or a full fledged reversal, only time would tell, but looking at the evidence at hand, certainly not a time to be brave and go long. The market needs to correct this anomally by either volumes going up or prices falling.

2nd cue to take short trades only.

 

[varunkochhar]

So if a reversal were to happen pls remember you saw it here first. Enough of the Gyan for today.

3rd cue to take short trades only.