Tuesday, February 4, 2014

Nifty Intraday Update-I


30 comments:

ITradeForProfit Daily said...

BN showing some signs of reversal

D.S.SASAN said...

Good Morning Sir, Dear Bros.& Sis's.
Have a GOOD DAY.

Prabhat said...

Looks like BN has been beaten to a pulp. If it was a friut then it would have become a jam. If it was a vegetable then it would have become a bhaaji ... :)

Ilango said...

5968 5976 ... is 50%-61.8% retrace of the last fall from …… 6002 to 5933

80% is - 5988

If weakness is to return, it should be around 5968 5976

Strength gets confirmed above 5976 OR 5988

Harinder Singh said...

Unwinding going on in 6000 PE and addition in 6000 CE.

prakashbkc said...

GM Master,

Liqidation in 6000PE is very less only 1.15lakh with OI still very high of 72lac
Does it indicate fall is corrective in nature & market take support here or it is time to build Long?

Anandha said...

All blogmates, please stop speaking about option position change, intra OI change happens till EOD depending on writers/buyers.Watch the levels given on this site and go for trade, Dont try to predict what is happening. Keep trail SL..Please understand your writing disturbs others,

Prabhat said...

@Anandha: If you do not believe in the role of OI in options, then please do not mandate others who believe in it from speaking & clearing thier doubts. This blog has its winner which is Jnsar, but at the same time master also allows & clears doubts on other trading strategies where we can get into constructive discussions. Hence I request not make judgements. I beleive a trader should be strong enough to follow what he believes/works out best for him & ingore others which does not.

Prabhat said...

In short, "take what is good for you & leave the rest".

shree said...

what is inferance now???.....since last 2/3 days OI of 6000 PE were increasing.....and still 73 LK.....everybody was saying PE's are written of.....but was it naked long in this counter????


I opened this topic because I am building long step by step in option (6200 CE)...and base is OI in 6000 PE......I will manage trade......

So OI gives clue no doubt .....I expect sharp rally as it is getting tooooooo oversold day by day (Yes agree it can be in this stage for further time too..but it has also limit as series just opened ...)

anmpatel said...

@master
in 2 min chart a rise from 5933 to 5971 is 3 wave? abc-b-abc? now b down from 5971?
thanks.

anmpatel said...

Hello friends,
OI can change faster than anybody can think, as we witnessed in last week of JAN, 6200-6100 put has highest OI...what happen? 20-30-40lac OI covered when market complete it waves.....

i am not good anything but just "following price"

i remember shriram----"bhav bhagawan 6e!!!'

Ilango said...

@ prakashbkc ,

Why OI is read only as "writing"....there are always exceptions if read with "prices".

Prabhat said...

@Master: Can we consider break of 5938 to be more weakness for the day? But if in case 5920 breaks then what is the next support level?

anmpatel said...

@master
if this fall hold at 5933 then may open c once again towards 5971(flat correction)...if 5933 pass then we should calculate 12345 from 5971? is my calculation right? t/f 2 min.
thanks.

Ilango said...

All the studies are secondary and acts as "confirmatory" if viewed objectively, not biased with one's position holding/ trades.

Exception being "objective Elliott wave study" which is based on "Prices & prices & prices and not its derivatives unlike all other studies".

As long as EW is used objectively, to understand price direction which is the most essential aspect to trade plan.

Ilango said...

@ Prabhat,

Since month did not close below MLEma, 60 points below MLEma @ 5800 may be considered as a "critical support level".

For trailing "Shorts", aggressively @ 5988, conservatively @ 6034 or 6064.

shriram said...

--> back

Stats. wise, CMP-Dev.DloEMA is now trading in Std Dev 2 zone for days low
(i.e 95% chances of days low formed exist, @ 5933 NS.. of a few more pts to 5921)

Lets see what the DATA Study shows ...

Karthik said...

@prabhat &anmpatel,
what could be a bounce level you look for given the oversold nature and the outstanding OI @ 6000 PE?

Prabhat said...

@Karthik: Nifty has fallen from 6350 levels to 5933 since past 8 days due to relentless selling. If selling does stop, then nifty might take 1-2 days to come out of Intensive care unit. I am hopefull of a bounce 1st above 200 DMA first & then 6000 & then 6080 levels & finally 6141 "if & onlly if" 5920 holds. Else we are again down to next support level which Master has mentioned.

I have entered into risky long (small qty) with 5920 as strict SL. I am sitting on red hot iron since master has repeatedly warned us "never swim against the tide".

shriram said...

Master,

Is the rise from 5933.75 NS, a simple ABC FLAT ?

raj.abj said...

for intraday calculation
w1=5933-5971 =38 points
w2 =5971-5939=31 points (38*0.82%) ????
i am a learner with (low knowledge ) ,please look at .....
if wrong forgive me .......

anmpatel said...

@kartik....
no idea boss...i am sticking with JNSAR with rest of position. but if it can bounce can limited to 5DHEMA+20 or 5DEMA or if really bearish could not close above 5DLEMA also!!!

Prithvi Raulji said...

@ master,

Is SBIN completed an 'ABC'from 3500??

raghava said...

Now VIX is 19.64 (1.37)

abhishek patel said...

Get Daily Latest Commodity and Stock Market Trading Tips, Sure Calls,Updates and STOCK MARKET, Commodity trading Tips, stock Tips, Trading calls,Mcx tips, ncdex tips, mentha oil price cotton updates, gold and silver updates, stock tips, nifty calls,stock Tips, Trading calls,Mcx tips, ncdex tips, mentha oil price.
Regards:
COMMODITY INTRADAY TIPS

Post a Comment