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Nifty View - July 2013 |
lakshay
White Belt
Joined: 04 Oct 2011
Posts: 39
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Post: #31  Posted: Tue Jul 02, 2013 11:05 pm Post subject: |
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| Ok thanks ....but what does NR7 day suggests? |
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saumitra
White Belt
Joined: 04 Feb 2010
Posts: 6
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| Post: #32 Posted: Tue Jul 02, 2013 11:30 pm Post subject: |
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NR7 suggests that trade should be initiated in direction of range break. If nifty crosses today's high tomorrow then long, if it crosses today's low then short. Otherwise no trade.
NR7 in a long trend indicates fatigue and possible reversal. Though the current trend is still immature or too new to qualify as a trend even. |
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apka
Black Belt
Joined: 13 Dec 2011
Posts: 6137
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| Post: #33 Posted: Tue Jul 02, 2013 11:48 pm Post subject: |
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| saumitra wrote: | NR7 suggests that trade should be initiated in direction of range break. If nifty crosses today's high tomorrow then long, if it crosses today's low then short. Otherwise no trade.
NR7 in a long trend indicates fatigue and possible reversal. Though the current trend is still immature or too new to qualify as a trend even. |
range break looks certain on downside as per Sgx Nifty Future
5831.00 -30.50 -0.52% |
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saumya12
Brown Belt
Joined: 21 Dec 2011
Posts: 1509
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| Post: #34 Posted: Tue Jul 02, 2013 11:56 pm Post subject: |
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| apka wrote: | | saumitra wrote: | NR7 suggests that trade should be initiated in direction of range break. If nifty crosses today's high tomorrow then long, if it crosses today's low then short. Otherwise no trade.
NR7 in a long trend indicates fatigue and possible reversal. Though the current trend is still immature or too new to qualify as a trend even. |
range break looks certain on downside as per Sgx Nifty Future
5831.00 -30.50 -0.52% |
It seems you are short on EOD  |
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saumya12
Brown Belt
Joined: 21 Dec 2011
Posts: 1509
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| Post: #35 Posted: Wed Jul 03, 2013 9:09 am Post subject: |
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| saumya12 wrote: | | apka wrote: | | saumitra wrote: | NR7 suggests that trade should be initiated in direction of range break. If nifty crosses today's high tomorrow then long, if it crosses today's low then short. Otherwise no trade.
NR7 in a long trend indicates fatigue and possible reversal. Though the current trend is still immature or too new to qualify as a trend even. |
range break looks certain on downside as per Sgx Nifty Future
5831.00 -30.50 -0.52% |
It seems you are short on EOD |
Will see good fireworks today |
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apka
Black Belt
Joined: 13 Dec 2011
Posts: 6137
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| Post: #36 Posted: Wed Jul 03, 2013 9:27 am Post subject: |
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| saumya12 wrote: | | saumya12 wrote: | | apka wrote: | | saumitra wrote: | NR7 suggests that trade should be initiated in direction of range break. If nifty crosses today's high tomorrow then long, if it crosses today's low then short. Otherwise no trade.
NR7 in a long trend indicates fatigue and possible reversal. Though the current trend is still immature or too new to qualify as a trend even. |
range break looks certain on downside as per Sgx Nifty Future
5831.00 -30.50 -0.52% |
It seems you are short on EOD |
Will see good fireworks today |
more left? more than a 1% down now |
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saumya12
Brown Belt
Joined: 21 Dec 2011
Posts: 1509
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| Post: #37 Posted: Wed Jul 03, 2013 9:44 am Post subject: |
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| apka wrote: | | saumya12 wrote: | | saumya12 wrote: | | apka wrote: |
range break looks certain on downside as per Sgx Nifty Future
5831.00 -30.50 -0.52% |
It seems you are short on EOD |
Will see good fireworks today |
more left? more than a 1% down now |
You are asking me! 
Covered 50% of my shorts.
Now will see the market movement and will act accordingly.
May add more shorts later on, below 5776 |
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rsnerella
White Belt
Joined: 30 Jul 2008
Posts: 153
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| Post: #38 Posted: Wed Jul 03, 2013 9:58 am Post subject: Nifty View- July 2013 |
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Fireworks where? Longs or shorts
| saumya12 wrote: | | apka wrote: | | saumya12 wrote: | | saumya12 wrote: | | apka wrote: |
range break looks certain on downside as per Sgx Nifty Future
5831.00 -30.50 -0.52% |
It seems you are short on EOD |
Will see good fireworks today |
more left? more than a 1% down now |
You are asking me!
Covered 50% of my shorts.
Now will see the market movement and will act accordingly.
May add more shorts later on, below 5776 |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #39 Posted: Wed Jul 03, 2013 10:10 am Post subject: |
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uptrend is intact till 5750 is broken convincingly. Tight SL for shorts are 5819/26NF.
Infy looks a good buy, target 2480/2494.
RIL becomes a good buy @845/36 if it goes there. |
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apka
Black Belt
Joined: 13 Dec 2011
Posts: 6137
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| Post: #40 Posted: Wed Jul 03, 2013 10:23 am Post subject: |
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| saumya12 wrote: | You are asking me!
Covered 50% of my shorts.
Now will see the market movement and will act accordingly.
May add more shorts later on, below 5776 |
hey im just a monkey in the jungle, u r the jane  |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #41 Posted: Wed Jul 03, 2013 10:26 am Post subject: |
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| apka wrote: | | hey im just a monkey in the jungle, u r the jane |
attaboy! |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #42 Posted: Wed Jul 03, 2013 10:54 am Post subject: |
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apka, have a look at this data
5800pe is above R3 level while 5900ce is well below S4 level, which is at 206. |
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apka
Black Belt
Joined: 13 Dec 2011
Posts: 6137
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| Post: #43 Posted: Wed Jul 03, 2013 11:03 am Post subject: |
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| vinay28 wrote: | apka, have a look at this data
5800pe is above R3 level while 5900ce is well below S4 level, which is at 206. |
what are the values of R3, S4... and what is 206?
difference is understandable due to positive VIX and negative sentiment in market today. It must vice versa when market opens gap and remains up? |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #44 Posted: Wed Jul 03, 2013 11:10 am Post subject: |
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| apka wrote: | | vinay28 wrote: | apka, have a look at this data
5800pe is above R3 level while 5900ce is well below S4 level, which is at 206. |
what are the values of R3, S4... and what is 206?
difference is understandable due to positive VIX and negative sentiment in market today. It must vice versa when market opens gap and remains up? |
R3 for 5700pe (5800 I haven't seen lately but CMP is also >R3) is at 59.25 and CMP is 69. R4 is 74.90.
S4 of 5900ce is 206. R4 is 353.
At least this data seems to indicate much higher levels (6100++ or 6200) to come. |
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saumya12
Brown Belt
Joined: 21 Dec 2011
Posts: 1509
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| Post: #45 Posted: Wed Jul 03, 2013 11:20 am Post subject: |
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| vinay28 wrote: | | apka wrote: | | vinay28 wrote: | apka, have a look at this data
5800pe is above R3 level while 5900ce is well below S4 level, which is at 206. |
what are the values of R3, S4... and what is 206?
difference is understandable due to positive VIX and negative sentiment in market today. It must vice versa when market opens gap and remains up? |
R3 for 5700pe (5800 I haven't seen lately but CMP is also >R3) is at 59.25 and CMP is 69. R4 is 74.90.
S4 of 5900ce is 206. R4 is 353.
At least this data seems to indicate much higher levels (6100++ or 6200) to come. |
You are discussing in code language
Yeh achchhi baat nahin hai
About higher levels, I think an inference can be drawn after todays/weekly close levels. |
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