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Nifty View - July '15 Series |
vinay28
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Joined: 24 Dec 2010
Posts: 11748
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Post: #31  Posted: Tue Jun 30, 2015 8:40 pm Post subject: |
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| Attached chart shows a broadening wedge along with many "premature reversals" shown circled and then "event (Greece) based" break down. Other TLs are also shown. Near EOD today, nifty finally made a forceful entry into the wedge after many attempts and closed above 2 TLs. The levels now important on the up are 8430/8485/8510 while on lower side it is 8355. This is because a -ve wolfe wave drawn at right bottom can give 8215 if nifty sustains below 8355. |
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riteshucha
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Joined: 19 May 2012
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| Post: #32 Posted: Tue Jun 30, 2015 11:04 pm Post subject: |
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Scroll down and u will see an attachment of excel sheet ' just trade day trading system'
uote="vinay28"]ritesh, the link given by you gives excel sheet that I have. I don't have the other one.[/quote] |
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dynamite_munda11
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Joined: 14 Nov 2010
Posts: 681
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| Post: #33 Posted: Wed Jul 01, 2015 7:25 am Post subject: |
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| riteshucha wrote: | Scroll down and u will see an attachment of excel sheet ' just trade day trading system'
uote="vinay28"]ritesh, the link given by you gives excel sheet that I have. I don't have the other one. |
[/quote]
i think they are based on fibbo numbers with retracement targets |
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apka
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Posts: 6137
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| Post: #34 Posted: Wed Jul 01, 2015 10:26 am Post subject: |
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| Every year VIX has crossed the mark of 25 once atleast... This year it hasn't so far |
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vinay28
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Posts: 11748
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| Post: #35 Posted: Wed Jul 01, 2015 11:33 am Post subject: |
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| apka wrote: | | Every year VIX has crossed the mark of 25 once atleast... This year it hasn't so far |
lagaya panvati?     |
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amitagg
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Joined: 01 Oct 2013
Posts: 4559
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| Post: #36 Posted: Wed Jul 01, 2015 12:33 pm Post subject: |
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| dynamite_munda11 wrote: | | riteshucha wrote: | Scroll down and u will see an attachment of excel sheet ' just trade day trading system'
uote="vinay28"]ritesh, the link given by you gives excel sheet that I have. I don't have the other one. |
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i think they are based on fibbo numbers with retracement targets[/quote]
JTs one system is based on fibo (I would be usually right) , one on gann (I would be usually right) and one on pivots playing a part (I can be wrong here)..... |
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amitagg
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Posts: 4559
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| Post: #37 Posted: Wed Jul 01, 2015 2:58 pm Post subject: |
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bank nifty may hit 18800 approx. resistance.....and stall Nifty uptrend after shorts square off their positions closer to AFTER 8500.
Since we have had a lower high lower low formation since 9100......break of 8500 would give first higher high......likely
in that case, it shall pull back (more likely)....down towards 8300/ 8100, to confuse the long term / medium term trend.
my view. |
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riteshucha
Green Belt
Joined: 19 May 2012
Posts: 1292
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| Post: #38 Posted: Wed Jul 01, 2015 3:25 pm Post subject: |
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8477 done... 2 nd target most likely 8548 to 8555
| riteshucha wrote: | If u take the excel sheet that I am talking, for tomm, nf crossing 8391 longs would be safe... Also today high was 8388, below monthly level of 8390... Hence crossing 8391 is very important, if it does, keep sl of 8349.... Positional longs shld be taken only if it closes above 8390 add more once it crosses 8445
Breaking below 8328/ 8330 will activated shorts... Will sl loss of 8372
I generally short / buy on pullbacks after breaking / crossing the levesl respectively....
8 out of 10 times, this excel sheet comes good... I mix a lot of diff levels to (primarily jt's) to manage trades...
Yest candle looked like a big hammer to me... If that is correct then first target comes to 8477
Another method says that holding below 8318 for more than one hour, will go for positional shorts... With sl 8444 closing basis..
There are many methods but this excel sheet of JT's is most suitable to me...
| amitagg wrote: | | sai24 wrote: | | riteshucha wrote: | sell around 8371 and more below 8353, SL 8395
tgt 8330, 8307, 8285 |
Which method do you follow? |
If JT method is followed ideally it is AFTER breaking 8353 sell is at 8371 and not when it first hits 8371...,,
But since 8363 is level given by him for sell below on MONTHLY and hence important level, possible thwart in movement and retrace down so u thought of selling .......
By the way 8360-8370 is also trend deciding weekly level.
It is possible though that it clears 8440 as well and gives a buy in JT watch out......yes a likely more plausible retrace down to 8340 or below can come befor that.... We are banking on this short trade.....
Gaps if start happening would be dicey ( so I am hedged) |
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vinay28
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Joined: 24 Dec 2010
Posts: 11748
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| Post: #39 Posted: Wed Jul 01, 2015 9:55 pm Post subject: |
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This is just a personal view and neither a recommendation nor a tip nor an advice for any trade.
Nifty for Thursday (02/07/15) and beyond
Supports are at about 8434, 8412, 8388, 8353, 8323, 8284 and 8258 while resistances are at about 8500, 8520, 8547 and 8577. Unfilled gap on lower side is at about 8368 while 200/100 dma are at about 8374/8475. Five +WWs can give about 8540, 8582, 8623, 8671 and 8695 (+WWs with higher targets are not mentioned as of now). Five -WWs can give about 8415 (if below 8476), 8406 (if below 8450), 8202/8188 (if below 8403) and 8155 (if below 8430) (-WWs with lower targets are not mentioned as of now). An IHnS can give about 8680 if nifty sustains above 8400.
Nifty rose sharply again and closed above 8450 and again above 200 dma. It also crossed above 100 dma but closed below it. However, the bearish div continues. Only a break above 8505 and a close above 8459 may take it up further. If it sustains below 8410, it may fall more. Global and local eco-political events can have a bearing on how nifty moves in short term. |
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apka
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Joined: 13 Dec 2011
Posts: 6137
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| Post: #40 Posted: Thu Jul 02, 2015 9:06 am Post subject: |
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| vinay28 wrote: | | apka wrote: | | Every year VIX has crossed the mark of 25 once atleast... This year it hasn't so far |
lagaya panvati? |
Haan lag gayi... But good for you na you were long  |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #41 Posted: Thu Jul 02, 2015 10:48 am Post subject: |
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| On this day in 1953, Greece agreed to forgive Germany's debt. |
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apka
Black Belt
Joined: 13 Dec 2011
Posts: 6137
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| Post: #42 Posted: Thu Jul 02, 2015 10:51 am Post subject: |
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| Oh wow that's amazing |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #43 Posted: Thu Jul 02, 2015 11:26 am Post subject: |
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| apka wrote: | | Oh wow that's amazing |
But apka, it was a mistake and shouldn't be repeated. |
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pkholla
Black Belt
Joined: 04 Nov 2010
Posts: 2890
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| Post: #44 Posted: Thu Jul 02, 2015 12:27 pm Post subject: Greece pardons Germany debt 1953 |
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If everybody is reasonable, then solution can be found
In 1918 after WW1, France adopted very unreasonable attitude. They humiliated Germany. They looted lot of gold, machinery etc from Germany, demanded Alsace/ Lorraine/ Ruhr districts, removal of King, foreign trade embargo, confiscation of colonies, dismantling of army/ air force/ navy, etc etc etc
This led to crash of early 1920s > hyperinflation + patriotic fever> rise of Nazis (1927-33) > Hitler> WW2
Recently we find Merkel opposed to any concession to Greece!
Hope unreasonable attitude doesnt lead similarly to WW3
Prakash Holla |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #45 Posted: Thu Jul 02, 2015 1:04 pm Post subject: Re: Greece pardons Germany debt 1953 |
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| pkholla wrote: | If everybody is reasonable, then solution can be found
In 1918 after WW1, France adopted very unreasonable attitude. They humiliated Germany. They looted lot of gold, machinery etc from Germany, demanded Alsace/ Lorraine/ Ruhr districts, removal of King, foreign trade embargo, confiscation of colonies, dismantling of army/ air force/ navy, etc etc etc
This led to crash of early 1920s > hyperinflation + patriotic fever> rise of Nazis (1927-33) > Hitler> WW2
Recently we find Merkel opposed to any concession to Greece!
Hope unreasonable attitude doesnt lead similarly to WW3
Prakash Holla |
yep |
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