iCharts Discussions

yashrahul · Yellow Belt Joined: 29 Jun 2013 Posts: 512

SwingTrader: u have evaded what i had asked for with some smart explanation but as you said you have made it a bit clearer and you have not confused me further...so i got what you meant

SwingTrader · Posted: Sun Oct 27, 2013 6:22 pm Post subject:

yashrahul · Yellow Belt Joined: 29 Jun 2013 Posts: 512

SwingTrader · Posted: Mon Oct 28, 2013 8:30 pm Post subject:

Updated NF OTM PCR rank chart (28.10.2013)

The rank has almost hit 80%, it is current at 78%. This more or less clearly indicates a major shift of OI balance to bearish.

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

SwingTrader · Posted: Tue Oct 29, 2013 7:29 pm Post subject:

Updated NF OTM PCR chart (29.10.2013)

Nice rally but I am not impressed yet. I will be impressed if today's rally has an equally impressive follow through in the next 2-3 days and OTM PCR rank manages to fall below 20-30%. Until then I am still looking to short on a close below 6060*. OTM PCR rank is still above 50% which means overall OI is neutral to bearish. Of course, tomorrow's price move will be interesting to look at.

* 6060 level on NF is valid sup level only until this expiry. After that I will be looking at 6030 on Nifty spot as the sup level to break for a short position (this is until this signal gets negated by OTM PCR rank falling below 20-30% and price closing above recent high - 6256 on spot).

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

At month's end most of the build up OI will vanish and next month will have lower OI to start with.. wshould such OI volume shift be considered in deciding?

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

SwingTrader · Posted: Tue Oct 29, 2013 9:24 pm Post subject:

Yes, I am taking OI of all available months.

But apka's question does raise a valid point. This is especially true in the last few days before expiry. Since OI in the current month is usually the highest, the indicator will have a bias in favor of the direction indicated by current month's OI. During the last few days this will matter the most as OI balance will suddenly change a day after expiry.

I am not sure what to do about this. I guess I will just have to be careful in taking a decision based on this indicator in the last few days before expiry. I hope it will be okay since I take the final decision based on price action itself.

Let us see...

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

ya.. let's see 31st Oct and 1st Nov will be interesting

SwingTrader · Posted: Wed Oct 30, 2013 7:17 pm Post subject:

Updated NF OTM PCR Rank chart (30.10.2013)

Rank continues to stay above 50% (currently at 57%).

acharyams · Yellow Belt Joined: 04 Jul 2010 Posts: 552

Till now your reading is favouring short as the rank is above 50%. Am I right?

SwingTrader · Posted: Wed Oct 30, 2013 9:51 pm Post subject:

manojkr78 · Green Belt Joined: 07 Mar 2011 Posts: 1014

ST,

Has the price confirmation for breakdown moved a bit up or still remains @ 6030 spot....

SwingTrader · Posted: Thu Oct 31, 2013 10:04 am Post subject: