iCharts Discussions

amitagg · Black Belt Joined: 01 Oct 2013 Posts: 4559

Not sure whether i am reading it right, but it appears that rank should be over 40% [not currently] for a more than 200-300 points fall....and average also above 0.9 or so for a sustained downtrend [which also is not the case]...

that is while the downtrend [if at all for intermediate term may have started as per your breath charts - i.e. Nifty may not move above 6142 otherwise counts will be revisited]

but some days / weeks may be there for more downside....and then too we would revisit based on charts at that point of time.....

all in all, it appears that your system is very very robust....that is it is capturing an intermediate top even before confirmation of price trend [that is IF IF market does not move about 6142 etc.]]

so also i like your timing, that u shall "hedge" when first major resistance breached...unlike many retail traders who shall have longs much before chart confirmation if market breaches 5960.....

thats only my view....
thanks and regards
Amit

SwingTrader · Posted: Tue Oct 08, 2013 6:11 pm Post subject:

Updated OTM PCR Rank chart (08.10.2013)

Nothing much to say....utrend just holding together. Not much change in OTM PCR rank.

SwingTrader · Posted: Wed Oct 09, 2013 6:18 pm Post subject:

Updated OTM PCR Rank & NF 60 mins charts (09.10.2013)

I converted my position to a put bull spread today (sold the 6300 put). Looking at OTM PCR now it was the right decision. Uptrend has re-asserted itself and OTM PCR rank is back at bullish extreme. I will now convert the spread back to a bearish position once the OTM PCR rank goes above 50% and a key support breaks again.

Looking at the 60 mins NF chart it looks like I should have waited for a break below the gap which was close and a stronger support. But that is just hindsight now and this is just something to keep in mind for the next time - to look for stronger supports to break especially if they are nearby.

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

indeed ST. As I posted a few days ago, it is hovering in lower half. May be you will get a patent soon. Smile

SwingTrader · Posted: Wed Oct 09, 2013 7:58 pm Post subject:

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

ST, you haven't posted long term chart since 4/10. let's not miss the moon while we count the stars. Smile

SwingTrader · Posted: Thu Oct 10, 2013 8:27 pm Post subject:

SwingTrader · Posted: Thu Oct 10, 2013 8:29 pm Post subject:

Updated OTM PCR Rank chart (10.10.2013)

Uptrend continues. Not much change in OTM PCR Rank. Thank God! I thought now that I am in a bullish trade the market will turn down Very Happy

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

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

SwingTrader · Posted: Fri Oct 11, 2013 9:59 pm Post subject:

Updated OTM PCR rank and Market Breadth charts (11.10.2013)

OTM PCR rank has gone up a bit. OTM option OIs indicate OTM call positions increasing much more than increase in OTM put positions. How significant this is we will know only next week. For now the move up in OTM PCR is not significant.

Long term breadth finally wakes up and starts to move up fast. This is encouraging for long term positions. Let us see how it holds up.

Things are very overbought. Both short & intermediate term breadth at extreme. Longs just need to be a bit careful.

SwingTrader · Posted: Mon Oct 14, 2013 9:13 pm Post subject:

Updated OTM PCR Rank chart (14.10.2013)

Uptrend remains healthy. Nothing more to say at this point.

apka · Black Belt Joined: 13 Dec 2011 Posts: 6137

how about today?

SwingTrader · Posted: Wed Oct 16, 2013 8:57 am Post subject: