iCharts Discussions

[pmg123]

Shiva Sir,

Request your kind response here, thanks in anticipation!!

Reversal Point (RP):
1/ let us say RP is 18930 (RP of BANKNIFTY AUG FUT today 05/08/16) between 9.15 to 9.30, price did try (18948 @ 9.25) to breach 18930 level but @ 9.30 the price came back below to 18917 ( <18930).

again an effort was made @ 9.35 but unsuccessful, so please kindly help clarify

a) 18930 is sacrosanct irrespective of whether price was above 18930 for 1MT or 5MT we will reverse our position from SELL to BUY as soon as price hits 18930 or

2) we will do what ever the price is @ 9.30 (15MT's post market open) i.e.. if price @ 9.30 is 18935 we will reverse our position from SELL to BUY or in case the price @ 9.30 is 18925, then we will stay put with our original (overnight) SELL position.

Thanks