My System - My trades.

[varunkochhar]

The next 5 resistances are at 3133/3141/3153/3171/3177. The OBV is less than the last time it reached 3128. So if the OBV does not catch up. Fall could come from any of these levels. (I am not advocating any shorts just cautioning that the volumes have not caught up yet) (Meaning there is divergence)

 

[varunkochhar]

But no weakness yet.

 

[varunkochhar]

For confirmation it needs to sustain below 3120.

 

[varunkochhar]

Wow Volumes came and we are above yesterday's range in OBV.

 

[checkmate7]

Wow Volumes came and we are above yesterday's range in OBV.

Booked small profit at 3145

 

[Vipul_84]

Varunji @Nifty futurs 1 min chart, LV formed at 11.14 am with vol of just 825. Then it went down to 9500 level and then reversed to go up at 9535. Where was exact entry and SL ?

 

[varunkochhar]

Vipul ji posting a chart for you.

 

[Vipul_84]

Varunji, as you explained in one post LV means lull before the storm. So this storm can come both side up or down. After forming day's LV nifty started going down, how do we avoid taking short?

 

[varunkochhar]

No way of knowing in advance. But yes if you only take trades in the direction of the major trend you can avoid this. But then you only should take unidirectional trades, not contra.

 

[varunkochhar]

As per OBV analysis also Today was an inside day in Nifty. If it breaks out from OBV range tomorrow either way there could be fireworks.