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SwingTrader
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Post: #556  Posted: Sun Dec 01, 2013 9:08 pm Post subject: |
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Updated NF OTM PCR Rank, Options Sentiment and Market Breadth charts (29.11.2013)
Rank at 57.60%.
I am not in any "test" position at the moment. I am leaning more towards bullish due to the market breadth chart turning extremely bullish. I will be looking for more leads from the rank chart in the next 2-3 days to decide on further test positions.
Options sentiment chart indicates the bearish position taken earlier was premature. Options sentiment has not even hit the 1st top band.
Market breadth is very bullish with long, intermediate & short term all at bullish extremes. A correction is expected in terms of breadth. But I am not really sure what to expect. I will just let the market show the direction.
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Srikanth Kurdukar
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vinay28
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| Post: #557 Posted: Sun Dec 01, 2013 9:14 pm Post subject: |
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| looks like signals from three charts are converging slowly. you are right ST, could be a matter of 2-3 days. |
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SwingTrader
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| Post: #558 Posted: Mon Dec 02, 2013 7:28 pm Post subject: |
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Updated NF OTM PCR Rank chart (02.12.2013)
Rank down to 42.30%. The nearest resistance on NS is 6288 (6320 above that is not too far). I am watching these for a breakout.
This is getting kind of boring....hope to see some action soon.
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Srikanth Kurdukar
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apka
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| Post: #559 Posted: Mon Dec 02, 2013 7:41 pm Post subject: |
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hehe, dec 8  |
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paa
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| Post: #560 Posted: Tue Dec 03, 2013 8:07 am Post subject: |
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| Can you please tell how to read and use this data |
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SwingTrader
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| Post: #561 Posted: Tue Dec 03, 2013 9:42 pm Post subject: |
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| paa wrote: | | Can you please tell how to read and use this data |
Here it is briefly:
Basically, this indicator moving above 50% is bearish (above 80% is almost like a signal to short). I prefer a price breakdown to actually take a trade based on this. Just opposite for bullish signal. The indicator falling below 50% is bullish and below 20% is like a buy signal but best confirmed by price itself.
For more explanation, please go through recent pages of this thread. If you still have questions, let me know.
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Srikanth Kurdukar
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SwingTrader
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| Post: #562 Posted: Tue Dec 03, 2013 9:44 pm Post subject: |
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Updated NF OTM PCR Rank chart (03.12.2013)
Rank at 39.40%. Bullish bias continues. It is getting more and more boring each day. Looks like something big cooking...tempted to take up a diagonal.
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Srikanth Kurdukar
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paa
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| Post: #563 Posted: Wed Dec 04, 2013 7:49 am Post subject: |
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Thanks ST Sir
Please elaborate a little with chart examples! |
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rk_a2003
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| Post: #564 Posted: Wed Dec 04, 2013 9:07 am Post subject: |
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| SwingTrader wrote: | Updated NF OTM PCR Rank chart (03.12.2013)
Rank at 39.40%. Bullish bias continues. It is getting more and more boring each day. Looks like something big cooking...tempted to take up a diagonal. |
ST,
Have you taken any diagonal, incase yes, could please tell us the details like strike prices adapted. |
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rk_a2003
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| Post: #565 Posted: Wed Dec 04, 2013 2:01 pm Post subject: |
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| rk_a2003 wrote: | | SwingTrader wrote: | Updated NF OTM PCR Rank chart (03.12.2013)
Rank at 39.40%. Bullish bias continues. It is getting more and more boring each day. Looks like something big cooking...tempted to take up a diagonal. |
ST,
Have you taken any diagonal, incase yes, could please tell us the details like strike prices adapted. |
I bought 6100 Jan call @317 and sold Dec 6300 call @118; It is nearly 35%.May I seek your opinion on this trade.
Sorry, I should have posted this in another thread . |
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SwingTrader
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| Post: #566 Posted: Wed Dec 04, 2013 2:09 pm Post subject: |
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| rk_a2003 wrote: |
I bought 6100 Jan call @317 and sold Dec 6300 call @118; It is nearly 35%.May I seek your opinion on this trade. |
It is fine, I too would have selected the same if I was taking a bullish trade at this time.
Now, here are the things to keep in mind going forward:
1. First 4-5 days will be tricky if NF declines.
2. If volatility rises it will benefit the trade
3. If volatility falls it should be okay as long as we don't see a hard NF decline
4. Just keep a stop in mind. NF level or % loss.
I have some diagonal positions in my main portfolio, I will discuss it at a later date.
Good luck.
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Srikanth Kurdukar
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rk_a2003
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| Post: #567 Posted: Wed Dec 04, 2013 4:38 pm Post subject: |
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| Thanks ST |
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SwingTrader
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| Post: #568 Posted: Wed Dec 04, 2013 9:24 pm Post subject: |
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Updated NF OTM PCR Rank chart (04.12.2013)
Rank at 53.70%. The way rank is fluctuating above/below 50%, I am now focusing on the range 6000-6300 (on NS). A break away from this range could lead to sustained moves.
For testing rank signals I am going to wait for a clear signal now. No hurry...
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vinay28
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| Post: #569 Posted: Wed Dec 04, 2013 9:31 pm Post subject: |
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| SwingTrader wrote: | Updated NF OTM PCR Rank chart (04.12.2013)
Rank at 53.70%. The way rank is fluctuating above/below 50%, I am now focusing on the range 6000-6300 (on NS). A break away from this range could lead to sustained moves.
For testing rank signals I am going to wait for a clear signal now. No hurry... |
ST, looks like june-dec '12 is getting repeated from sept '13 and we may not see clear signal even as nity continues to go up. |
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SwingTrader
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| Post: #570 Posted: Wed Dec 04, 2013 9:37 pm Post subject: |
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| vinay28 wrote: |
ST, looks like june-dec '12 is getting repeated from sept '13 and we may not see clear signal even as nity continues to go up. |
Yes, true. It is looking more and more like Jun-Dec 2012 type of movement. Getting bored....
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