Rajeev Verma's Observations:-(aarvee9)
INDICATORS:
(a)Daily charts-
STOCHS(14,3) : OverBought,just below 80 mark.
STOCHS(5,3) : Falling after negative diversion ,near to 50 mark.
RSI(14) &RSI(9): Both falling from OB region after negative diversions.
MACD(26,12,9): In OB region ,Histogram already near zero mark.
EMA : All the EMA’s 5,20,50 are bullishly aligned,with close above all.
PSAR : 5325
ATR(14) : Approx.63
VIX : approx 17
CHART PATTERN: Channel trading broken in last two trading days.
(b)Weekly charts-
STOCHS are in OB region and RSI falling but MACD and Momentum giving bullish signals.EMA’s are bullishly aligned,with close 5,13,20 w ema.
The Pattern is of Channel movement with trading in upper half of the channel.
(c)Options Data shows maximum Open Interest in 5200 Puts and 5400Calls and a neutral put/call ratio of 1.19.
CONCLUSION:
The much awaited correction is not happening, both Daily and Weekly giving mixed signals.So,we should be cautiously Long with theTrend with strict Stoplosses at 5235(2day low)or 5185(10 day low and approx 20ema) as per our risk profile.If the stop loss of 5235 is not hit ,then can go upto 5450 which is the Weekly Channel Top resistance.Closing above 5330(recent trading high) will be the deciding factor.The range can be 5200 to 5400 with low volatility and daily ranges.
11 comments:
Good Morning all!
Ilango Sir,
Can we get VAH, VAL & PoC on excel, because I have no software at all other than excel, on which I follow your levels. I am not trading nowadays but learning & wish to learn as much as possible from you all seniors.
I may buy Amibroker in future but currently I think VAH, VAL & PoC cannot be calculated in Amibroker too, am I right?
Waiting for your response.
shekhar
Gm all
GM All,
Values as per my chart : 5312-5206-5290
( all fut values)
Corrected : 5312-5306-5290
Good Morning ilango sir and other blogmates
-arpit
My intraday call: Short nifty at 5320 ( spot ). Based on 5min chart - CCI -ve div. OI towards 5300.
gd
hisir,
good morning,
sir in weekly based doji pattern
so in which condition doji formation is fell ?
regards,
alpesh
gm to all
INTERESTING ANALYSIS AT:
http://www.paisabuilder.cmlinks.com/Admin1/Pdf/2002309742_FutureScope050410.pdf
"It is to be noted however, that the rise of the last week led to some erosion in the
OI of the NF (down to 2.37 cr shares now). This is not too good. The Put OI continues
to be dominant at the 5200 levels but the call OI strike has shifted higher to
5400 by the end of the week. The PCR remains steady at around 1.19 and that
shows no major build up yet on either side. The IV readings have dropped to even
below 17% so there appears to be no fear in the market at all. This is all a bit complex
because on the one hand we have absence of fear (shown by low Vix readings)
while on the other hand, we have OI shedding during market drops as well as rises -
implying lack of confidence!! We therefore have a highly unusual situation of lack of
fear and lack of enthusiasm co-existing at the same time! How this will get resolved
ahead is anybody's guess right now."
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NEW POST DONE
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@ Manojag,
If unable to move past 5330-5345 decisively, it could be construed as "b" wave of the 4th..to be followed by a "C" to complete the 4th wave.
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