iCharts Discussions

SwingTrader · Posted: Thu Oct 31, 2013 8:30 pm Post subject:

Updated NF OTM PCR Rank chart (31.10.2013)

Rank at 49.70%. I checked the rank by removing this expiry's data, the rank computes to 49.13%. I have done this check for previous expiries too and it checks out fine. I am satisfied with my computations and will continue to use the indicator for testing its signals.

Apka, thanks for the pointer yesterday. This made me check the indicator more thoroughly.

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

SwingTrader · Posted: Thu Oct 31, 2013 9:35 pm Post subject:

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

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

great ST

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

Hi
Pls update strategy 'action'. Your very timely selling 6300 put closed bang on target.
Now what? Since bullish is still not negated, what action for Nov...till 6080 etc is done below
Warm regards
Amit

SwingTrader · Posted: Sun Nov 03, 2013 12:06 pm Post subject:

Updated NF OTM PCR rank & Market breadth charts (01.11.2013)

Bearish setup negated. I will now wait for 50% level to be breached again and then look for a nearby key support to break to initiate a bearish trade. Until then enjoy the uptrend.

Long term market breadth now above zero. This is important. If the current uptrend is going to sustain then we will see a correction in the near future. If long term breadth around zero (does not go down too much below zero) during this correction, we could see the uptrend continuing. The time around Feb 2012 is a good example of reversal from downtrend to uptrend. We should see something like that happening if the uptrend is to sustain in the future.

SwingTrader · Posted: Sun Nov 03, 2013 12:23 pm Post subject:

SwingTrader · Posted: Mon Nov 04, 2013 4:42 pm Post subject:

Updated NF OTM PCR Rank chart (03.11.2013)

Rank has gone to bullish extreme very quickly. I am planning to initiate a bullish position tomorrow based on the price action but it is going to be tough as I am initiating the position late in the trend. But with my bullish position expiring with Oct expiry I will have to see if I can initiate a position. Will decide tomorrow.

ca.krishna · White Belt Joined: 17 Sep 2013 Posts: 158

Excellent ST Bhai.....here I would like to add something...as per the chart most(almost 80% cases) of the time whenever the market in top (mean to say on upper side) and the rank is between 0 to 10 %, there seems to be correction in the market ranging from 50-200 points....and then from there market either goes for bull run (as can e seen in 2012) or goes down further as can be seen in 2013.......I think waiting at least one-two weeks to finally form a view for bullish senerio seems more clear...but some times when we wait for something it usually happens that the opportunity is gone or very less from our hand to form the position.

SwingTrader · Posted: Mon Nov 04, 2013 5:41 pm Post subject:

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

SwingTrader · Posted: Mon Nov 04, 2013 6:19 pm Post subject:

SwingTrader · Posted: Tue Nov 05, 2013 10:13 pm Post subject:

Updated NF OTM PCR Rank chart (05.11.2013)

Rank is up a bit. I have not initiated a bullish position as market was down. I will initiate it only if I see strength.