iCharts Discussions

SwingTrader · Posted: Fri Sep 13, 2013 10:27 am Post subject:

OTM PCR Rank (updated with 12.09.2013 data)

Balance started to trip but we are not there yet.Maybe a break below yesterday's low and similar action on option OIs would trigger a down move. Let us see...

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

SwingTrader · Posted: Fri Sep 13, 2013 7:20 pm Post subject:

OTM PCR chart with data for 13.09.2013 updated.

OTM PCR is back down to its bullish extreme. So the short-term uptrend is still intact for now.

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

indeed ST.

SwingTrader · Posted: Sun Sep 15, 2013 4:03 pm Post subject:

Market Breadth & Options Sentiment charts (updated 13.09.2013)

Long term it still doesn't look that good. The long term sentiment might start moving up if we get a consolidation and a further move up. No idea if that will happen, we'll just have to wait and watch how things unfold.

NOTE: Options sentiment is same as the OTM PCR chart that I started posting recently (just without the extreme bands), just that it is in raw format instead of the rank that I compute for the OTM PCR Rank chart.

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

looks faintly promising

rk_a2003 · Black Belt Joined: 21 Jan 2010 Posts: 2734

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

SwingTrader · Posted: Mon Sep 16, 2013 7:55 pm Post subject:

NSE OTM PCR Rank and Options Sentiment charts (updated with today's data)

No change yet. But options sentiment / OTM PCR rank has indicated some bearishness today but not enough to signal a down move.

I am not sure but today could have been a top, but I am not yet taking action yet.

I am using these two charts in the following way:

1. For a down move I wait for "Option Sentiment" to cross above the center line (dotted) (for an up move I wait for option sentiment to cross below the center line).

2. Once condition #1 is satisfied, I wait for price to break below nearest significant support pivot/level (most of the times it is clear cut, sometimes it is a decision base on one's judgement). For up move I wait for price to break above nearest support pivot/level.

OTM PCR bias change happens when it moves above/below the 50% mark (this can be used in place of options sentiment as they both are basically the same, options sentiment uses the raw value of OTM PCR and OTM PCR Rank is the percent rank of OTM PCR).

I am waiting for condition #1 to be satisfied first, it has not yet happened.

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

ST, it appears that "time to sell" does not come till it has crossed above 0.20 and, that too at times, a couple of times. Confusion reigns right now, I feel.

SwingTrader · Posted: Mon Sep 16, 2013 9:14 pm Post subject:

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

hmm, ok, interesting. let's follow the ranking at least till a big move is made.

sureenderkalra · White Belt Joined: 11 Dec 2012 Posts: 174

SwingTrader, Both the charts posted by you are really helpful to get a sound confirmation of trend of nifty. Please keep posting the same.

And, I request you to post the same charts for banknifty too. Is it possible for you to do so?

SwingTrader · Posted: Tue Sep 17, 2013 11:47 am Post subject:

bharatpatel · White Belt Joined: 26 Oct 2011 Posts: 401

Bouncer ....... Far over the head .....

Just like another world of T A.

Trying to learn ( too hard to be understood)

But keep it up sir.

Regards.