I wonder what was the reason for this sudden spike. It was not in Bank Nifty.I don't like the opening and closing price action. Something is cooking up.
Wednesday, January 22, 2014
22012014
I wonder what was the reason for this sudden spike. It was not in Bank Nifty.I don't like the opening and closing price action. Something is cooking up.
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Sir,
ReplyDeleteWent long on the break of DO with a stop @ 6303.
When price at PDC checked the OI of 6300 PE there was a good amount of addition, so kept it till exit at 6354.
Thanks
Raghu
Hi ST,
ReplyDeleteBig boys playing their games I guess.
Tried attempting a SS today??
was it valid??
Plz click here
Thanks
TBP
Hello ST,
ReplyDeleteNifty seems to be moving in a tight channel since 20th. I had noticed it forming on 20th itself and saved some bad trades. I've noticed DP's don't seems to work if they fall with such a channel. Do you think this gives a better picture as it might give us trouble areas. The initial spike as well as the fall happened at the channel extremes. Here is the link for the chart.
http://s13.postimg.org/fty553gbr/nifty.png
TBP
ReplyDeleteYes. SS traded like that
ST
Nikhil
ReplyDeleteIt may help
Many tools can give us such clues.
But the problem is we will not be able to move around with this heavy tool box. Less tools more comfort
ST
Raghu
ReplyDeleteGood trade.
I do not understand this option stuff
ST
ST,
ReplyDeleteWhy didnt you attempt BOF trade immediately after your first long..
??
rgds
Kishore
Sir, please don't publish this as its out of DP subject,
ReplyDeletemany believe that options will decide the levels of nifty as it occupy 90% of the exchanges total turnover.
so when ever the nifty trades near BRN I prefer to check the OI of calls and puts so to get some clarity on on possible direction.
thanks
Raghu
today break out failure was good sign for go long but i hesitated finally i take short position when third break out attempt is failed my target was BRN of NS but hit my sl of previous days high about 14 point sir where was the real stop loss this trade.......? and what is major swing point....? replay me pls
ReplyDeleteKishore
ReplyDeleteFor both the BOF trades of PDC the target is 6320 flip zone. Both the trades are counter trend trades.Very low probability trades without sufficient space
Now think about the stops. Most of the traders have gone long on the BO of 6320 high.Initially their stops will be below this BO area.
When price broke broke above PDC and stayed there for a while these people might have shifted their stops below PDC to protect their profit.
I was betting on this order flow to take a quick trade.But trade did not work as expected.
ST
SIR REPLY ME PLS
ReplyDeleteAnoop
ReplyDeleteDo not trade the method without knowing the concepts well
You took a counter trend trade against a Multi layer BOF move.
You were trading against three strong barriers namely. DO,PDL and BRN. A trade with zero chance to succeed.
You took the trade when price failed three times to breakout.Once this breakout happens the reason for trade is negated . Exit on breakout
ST
ST..
ReplyDeleteWhat about the first trade in relation to trend ?
Wasn't it counter trend ?
rgds
Kishore
Kishore
ReplyDeleteNo my trend definition is different.
For me market is in a range all the time. An up trend is successive higher ranges and down trend successive lower ranges.
In the morning price attempted to move into a lower range and failed. So the bias is up
Please do read all the important posts listed.
Till you understand the concepts well do not trade the method
ST
thanks ST
ReplyDeleteBeing a trend follower for some years finding difficult to see things in a differrent perspective :)..
I have gone through the posts...
Will go through them again
rgds
Kishore
Hi ST,
ReplyDeleteDo you use any filter ?
Is yes what is the value ?
rgds
Kishore
sir on my trading terminal previous days close was 6326.40 and you marked at 6330 what was the real closing rate ...?
ReplyDeletesir what is today's closing rate...?
ReplyDeleteHi ST
ReplyDeleteIs this post still valid ?
http://niftynirvana.blogspot.in/2012/02/trends-and-ranges.html
You are talking about the the trend which I am familiar of ...
rgds
Kishore
Anoop
ReplyDeleteyesterday Ichart shows 6238.95
Today it is 6344.90
Consider levels as narrow zones. Tolerate little overshoots
ST
Kishore
ReplyDeleteUsually I use 25-50 paisa as margin and enter trigger price
ST
thank you sir i will become a smart trader like youuuuuuuuuuuuuu
ReplyDeleteHi ST
ReplyDeleteWhat is the significance of yellow lines in this post
niftynirvana.blogspot.in/2012/05/trading-ranges.html
rgds
Kishore
Kishore
ReplyDeleteThat is still valid.
I have taken it a step further.
Every wave in a trend is a probable range.The conventional approach will not work well for day trading. Market rarely trend like text book fashion
ST
Kishore
ReplyDeleteWith yellow lines I have explained that ranges can overlap. Second yellow range need not be above first one. It can overlap
ST
Kishore
ReplyDeletePost the comments below respective posts.
ST
sorry ST
ReplyDeletecouldn't see the comment box like the one here..
but found it
thanks!
Hi ST,
ReplyDeleteMy chart did not gap and opened a bit differently. In this case, where would you take the first trade that you have taken? http://imagizer.imageshack.com/img913/819/rQwYdS.png Thanks.
May not.
DeleteI think I would have gone long above 6320 only
ST