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a layman's approach to break out and break down
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Author a layman's approach to break out and break down
anand1234
Yellow Belt
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Joined: 17 Jul 2010
Posts: 830
Post: #1561   PostPosted: Tue Feb 01, 2011 11:43 am    Post subject: Reply with quote
hi..........casper
u mentioned to buy nifty.....pls tell us th tgt fo to day??

thanks
anand
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singh.ravee
Yellow Belt
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Joined: 12 Aug 2010
Posts: 678
Post: #1562   PostPosted: Tue Feb 01, 2011 11:50 am    Post subject: Reply with quote
casper bhai,

closely following nifty today. bullish divergence in nifty, if any will complete at 12pm.

somehow not very convinced with long outlook of nifty as of now.
reason
1. a falling window = 5485. nifty filled the gap
2. tried to move above falling window, however rejected by dark cloud cover.
3. overall trend is still down.

i may be wrong in my view, however not convinced on the long side.

will take any long position only above 5500.

regards
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casper
Green Belt
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Joined: 02 Oct 2010
Posts: 1315
Post: #1563   PostPosted: Tue Feb 01, 2011 12:01 pm    Post subject: Reply with quote
anand1234 wrote:
hi..........casper
u mentioned to buy nifty.....pls tell us th tgt fo to day??

thanks
anand


its a 60 min div, it will work slowly but robustly, it is possible that we can see its effect on 2nd half or may be even tomorrow

now, between this time, nifty will not move significantly, if u have not bought it, u should buy on retracement, with a sl below days low, now as per intra, i expect it to be 5460 in spot, but i say gain, it will take time, bcoz of 60 min + div
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casper
Green Belt
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Joined: 02 Oct 2010
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Post: #1564   PostPosted: Tue Feb 01, 2011 12:07 pm    Post subject: Reply with quote
singh.ravee wrote:
casper bhai,

closely following nifty today. bullish divergence in nifty, if any will complete at 12pm.

somehow not very convinced with long outlook of nifty as of now.
reason
1. a falling window = 5485. nifty filled the gap
2. tried to move above falling window, however rejected by dark cloud cover.
3. overall trend is still down.

i may be wrong in my view, however not convinced on the long side.

will take any long position only above 5500.

regards



yes u r right, whenever u think to trade in nifty always see 5 min tf also, as now its very volatile market

but given this + div, which i think, is prominent with the previous red candle in 60min, i cant say it will go down easily either,

60min div, in this market, has a tendency to be carried over, that means, this + div can effect in afternoon, or even may be 2mrw, but untill we break the low, i see the chance of shorting is capped up to days low only, we can short it if it goes up to 5460-5480 range and come down, even so, we have to target our recent low of 5418
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chetan83
Brown Belt
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Joined: 19 Feb 2010
Posts: 2036
Post: #1565   PostPosted: Tue Feb 01, 2011 12:19 pm    Post subject: Reply with quote
casper wrote:
singh.ravee wrote:
casper bhai,

closely following nifty today. bullish divergence in nifty, if any will complete at 12pm.

somehow not very convinced with long outlook of nifty as of now.
reason
1. a falling window = 5485. nifty filled the gap
2. tried to move above falling window, however rejected by dark cloud cover.
3. overall trend is still down.

i may be wrong in my view, however not convinced on the long side.

will take any long position only above 5500.

regards



yes u r right, whenever u think to trade in nifty always see 5 min tf also, as now its very volatile market

but given this + div, which i think, is prominent with the previous red candle in 60min, i cant say it will go down easily either,

60min div, in this market, has a tendency to be carried over, that means, this + div can effect in afternoon, or even may be 2mrw, but untill we break the low, i see the chance of shorting is capped up to days low only, we can short it if it goes up to 5460-5480 range and come down, even so, we have to target our recent low of 5418


Hi All,

Waiting for a close abv 5465 in 15 TF (abv S1 of weekly pvt) for 20 point gain at least.

Rgds,
Chetan.
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chetan83
Brown Belt
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Joined: 19 Feb 2010
Posts: 2036
Post: #1566   PostPosted: Tue Feb 01, 2011 12:24 pm    Post subject: Reply with quote
chetan83 wrote:
casper wrote:
singh.ravee wrote:
casper bhai,

closely following nifty today. bullish divergence in nifty, if any will complete at 12pm.

somehow not very convinced with long outlook of nifty as of now.
reason
1. a falling window = 5485. nifty filled the gap
2. tried to move above falling window, however rejected by dark cloud cover.
3. overall trend is still down.

i may be wrong in my view, however not convinced on the long side.

will take any long position only above 5500.

regards



yes u r right, whenever u think to trade in nifty always see 5 min tf also, as now its very volatile market

but given this + div, which i think, is prominent with the previous red candle in 60min, i cant say it will go down easily either,

60min div, in this market, has a tendency to be carried over, that means, this + div can effect in afternoon, or even may be 2mrw, but untill we break the low, i see the chance of shorting is capped up to days low only, we can short it if it goes up to 5460-5480 range and come down, even so, we have to target our recent low of 5418


Hi All,

Waiting for a close abv 5465 in 15 TF (abv S1 of weekly pvt) for 20 point gain at least.

Rgds,
Chetan.


Sorry Guys - Chart overlooked, its not weekly pvt, but today's daily pivot S1, close abv 5465.
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casper
Green Belt
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Joined: 02 Oct 2010
Posts: 1315
Post: #1567   PostPosted: Tue Feb 01, 2011 12:27 pm    Post subject: Reply with quote
in my chart, i was referring 5460 as a target only due to the presence of 34 ema, now it has come down to 5452, so im expecting that to be 1st resi
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chetan83
Brown Belt
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Joined: 19 Feb 2010
Posts: 2036
Post: #1568   PostPosted: Tue Feb 01, 2011 12:31 pm    Post subject: Reply with quote
casper wrote:
in my chart, i was referring 5460 as a target only due to the presence of 34 ema, now it has come down to 5452, so im expecting that to be 1st resi


Hi,

So if 5452 is taken out in 60min TF then do u see it moving ahead to daily S1 at 5462.

Regards,
Chetan.
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casper
Green Belt
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Joined: 02 Oct 2010
Posts: 1315
Post: #1569   PostPosted: Tue Feb 01, 2011 12:34 pm    Post subject: Reply with quote
chetan83 wrote:
casper wrote:
in my chart, i was referring 5460 as a target only due to the presence of 34 ema, now it has come down to 5452, so im expecting that to be 1st resi


Hi,

So if 5452 is taken out in 60min TF then do u see it moving ahead to daily S1 at 5462.

Regards,
Chetan.


yes , why not? until we get - div in 5 min or lesser tf, i dont think we will fall
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chetan83
Brown Belt
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Joined: 19 Feb 2010
Posts: 2036
Post: #1570   PostPosted: Tue Feb 01, 2011 12:40 pm    Post subject: Reply with quote
casper wrote:
chetan83 wrote:
casper wrote:
in my chart, i was referring 5460 as a target only due to the presence of 34 ema, now it has come down to 5452, so im expecting that to be 1st resi


Hi,

So if 5452 is taken out in 60min TF then do u see it moving ahead to daily S1 at 5462.

Regards,
Chetan.


yes , why not? until we get - div in 5 min or lesser tf, i dont think we will fall


Hi,

Pls cross check, as in 30min TF of NF, AT is getting build up......

Regards.
Chetan.
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chetan83
Brown Belt
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Joined: 19 Feb 2010
Posts: 2036
Post: #1571   PostPosted: Tue Feb 01, 2011 12:46 pm    Post subject: Reply with quote
chetan83 wrote:
casper wrote:
chetan83 wrote:
casper wrote:
in my chart, i was referring 5460 as a target only due to the presence of 34 ema, now it has come down to 5452, so im expecting that to be 1st resi


Hi,

So if 5452 is taken out in 60min TF then do u see it moving ahead to daily S1 at 5462.

Regards,
Chetan.


yes , why not? until we get - div in 5 min or lesser tf, i dont think we will fall


Hi,

Pls cross check, as in 30min TF of NF, AT is getting build up......

Regards.
Chetan.


Hi,

Chart attached for reference,

rgds,
Chetan.

NF - 1M 30 MINS.JPG
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NF - 1M 30 MINS.JPG
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casper
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Post: #1572   PostPosted: Tue Feb 01, 2011 12:49 pm    Post subject: Reply with quote
yes, its forming
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casper
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Post: #1573   PostPosted: Tue Feb 01, 2011 1:19 pm    Post subject: Reply with quote
so u got 5465,
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chetan83
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Joined: 19 Feb 2010
Posts: 2036
Post: #1574   PostPosted: Tue Feb 01, 2011 1:35 pm    Post subject: Reply with quote
casper wrote:
so u got 5465,


No its 5478..
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casper
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Post: #1575   PostPosted: Tue Feb 01, 2011 1:43 pm    Post subject: Reply with quote
chetan83 wrote:
casper wrote:
so u got 5465,


No its 5478..


bhaiyyaa, aap to jante hain naa mere pass to srif basic charts hein, Very Happy Very Happy Very Happy
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