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rk_a2003
Black Belt
Joined: 21 Jan 2010
Posts: 2734
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Post: #556  Posted: Fri Feb 15, 2013 3:27 pm Post subject: |
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| Markets again sliding down.Is fresh shorts coming in?Volumes are not visible....may not be. |
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apka
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Joined: 13 Dec 2011
Posts: 6137
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| Post: #557 Posted: Fri Feb 15, 2013 3:33 pm Post subject: |
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| rk_a2003 wrote: | | Markets again sliding down.Is fresh shorts coming in?Volumes are not visible....may not be. |
cant say... maybe just liqudation of intra longs and shorts before close after this movement. |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #558 Posted: Fri Feb 15, 2013 3:33 pm Post subject: |
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| rk_a2003 wrote: | | Markets again sliding down.Is fresh shorts coming in?Volumes are not visible....may not be. |
Didn't seem like fresh shorting, Rk...looks unwinding of intraday longs.....anyway, the market closed above 5880....I'll take it as a good closing....let's wait and see what happends next week...Happy weekends....  |
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psalm
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Joined: 12 Nov 2011
Posts: 5368
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| Post: #559 Posted: Fri Feb 15, 2013 3:34 pm Post subject: |
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| apka wrote: | | rk_a2003 wrote: | | Markets again sliding down.Is fresh shorts coming in?Volumes are not visible....may not be. |
cant say... maybe just liqudation of intra longs and shorts before close after this movement. |
Yup, that's what I feel...Apka..... |
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skd2012
Yellow Belt
Joined: 03 Oct 2012
Posts: 948
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| Post: #560 Posted: Fri Feb 15, 2013 3:38 pm Post subject: |
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Why to take pain on weekend. 
Fresh look on Monday some stocks are pretty over sold like Relcap, ranbaxy tatasteel reliance SBI, they need breather. After that it will be decided. |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #561 Posted: Fri Feb 15, 2013 3:40 pm Post subject: |
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| sw_das wrote: | Why to take pain on weekend.
Fresh look on Monday some stocks are pretty over sold like Relcap, ranbaxy tatasteel reliance SBI, they need breather. After that it will be decided. |
No Pain...No Gain..... 
Have a great weekend...Das... |
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skd2012
Yellow Belt
Joined: 03 Oct 2012
Posts: 948
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| Post: #562 Posted: Fri Feb 15, 2013 3:43 pm Post subject: |
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| psalm wrote: | | sw_das wrote: | Why to take pain on weekend.
Fresh look on Monday some stocks are pretty over sold like Relcap, ranbaxy tatasteel reliance SBI, they need breather. After that it will be decided. |
No Pain...No Gain.....
Have a great weekend...Das... |
psalm, you too have a great weekend!
I have done lot of typing today, hope my keyboard does not go bad like you. |
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pkholla
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Joined: 04 Nov 2010
Posts: 2890
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| Post: #563 Posted: Fri Feb 15, 2013 8:42 pm Post subject: |
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Robert C Miner has written an excellent book (High Probability Trading Strategies) on calculating level using internal retracement
Recent NS moves: 6042.45 down to 5897.85 (first leg)
5897.85 up to 5932.95 (second leg)
5932.95 down to 5887.4 today (third leg)
Fourth leg starts up from 5887.4 to?
Miner calculates .786 (sqroot of .618), .618, .5 and .382 of the gap between first leg hi to first lo (start point is 5897.85) so levels are 5953.1, 5970.2, 5987.2, 6011.5
And 1.618, 1, .618 of the gap between hi and lo second leg and for this second calc start point is start of fourth leg (5887.4) so levels are 5909.1 , 5922.5, 5944.2
Where any level of 1st calc meets any level of 2nd calc there is the likely target of 4th leg starting up from 5887.4
So according to Miner, likely immediate target for NS is 5944.2 to 5953.1
See excel calci attached
Last edited by pkholla on Fri Feb 15, 2013 8:53 pm; edited 2 times in total |
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vinay28
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Joined: 24 Dec 2010
Posts: 11748
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| Post: #564 Posted: Fri Feb 15, 2013 8:44 pm Post subject: |
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| good one prakash but does it mean 5953 is the end of rally? |
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pkholla
Black Belt
Joined: 04 Nov 2010
Posts: 2890
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| Post: #565 Posted: Fri Feb 15, 2013 8:51 pm Post subject: |
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Vinay: No. End of rally is decided by FIIs. I am only giving immediate target as calc by Miner method.
Robert C Miner has used this strategy for > 20 years and swears by it. In his book he gives examples forwarded by his chelas based on actual trading in stock, currency and commodities!
This book is in my cloud store but I think ICharts will not allow me to give link! However you may try DL it by googling it like I did!
Cheers, Prakash Holla
Last edited by pkholla on Fri Feb 15, 2013 10:31 pm; edited 2 times in total |
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vinay28
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Joined: 24 Dec 2010
Posts: 11748
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| Post: #566 Posted: Fri Feb 15, 2013 9:19 pm Post subject: |
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| but today's low was 5854? |
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rakeshliving
White Belt
Joined: 03 Jan 2011
Posts: 88
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| Post: #567 Posted: Fri Feb 15, 2013 9:30 pm Post subject: |
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mARCH 22, 2011
i THINK now its to trap the big "B"....!!!
well just a speculator way...  |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #568 Posted: Fri Feb 15, 2013 9:56 pm Post subject: |
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| In what way is 22/3/11 related here? |
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pkholla
Black Belt
Joined: 04 Nov 2010
Posts: 2890
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| Post: #569 Posted: Fri Feb 15, 2013 10:36 pm Post subject: |
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| vinay28 wrote: | | but today's low was 5854? |
Vinay: I am taking today's close of 5887.4 for NS. All values in example are closing prices in NS for that day.
Perhaps we can try hi or lo or NF and see what we get
Cheers, Prakash Holla |
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stevenmat
White Belt
Joined: 27 Dec 2011
Posts: 478
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| Post: #570 Posted: Mon Feb 18, 2013 8:39 am Post subject: |
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@vinay..
PCR of 0.96 and premium of 5...Good enough for a rally? |
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