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NVK SET UP |
shekharinvest
Yellow Belt
Joined: 21 Dec 2007
Posts: 549
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Post: #121  Posted: Wed Oct 07, 2009 9:20 am Post subject: |
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Hello,
JPS, please go to first post by Saikat, in this thread you will get complete answer to your query.
Attached below is the chart for banknifty, clearly showing divergence with RSI as well as STS.
BNF needs a larger space for SL and its moves are larger too, this index is more volatile caution is advised.
Nifty gave opportunity twice to go long first near 4940-45 level and it hit the SL, then again long at 4925-30 level from where it went all the way to make a new high for the day !
SHEKHAR
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natarajmtech
White Belt
Joined: 13 Oct 2008
Posts: 61
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| Post: #122 Posted: Wed Oct 07, 2009 11:41 am Post subject: |
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What more conformation wanted ?
Enter for short today ... It is unfortunate that STS crossover could not been visible due to the text on the chart overlap but I belive it should have crossed red line from top
See the attached chart for today
Regards,
Nataraj
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simran8998
White Belt
Joined: 19 Mar 2009
Posts: 34
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| Post: #123 Posted: Wed Oct 07, 2009 12:07 pm Post subject: |
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| natarajmtech wrote: | What more conformation wanted ?
Enter for short today ... It is unfortunate that STS crossover could not been visible due to the text on the chart overlap but I belive it should have crossed red line from top
See the attached chart for today
Regards,
Nataraj |
This is not the right NVK setup
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natarajmtech
White Belt
Joined: 13 Oct 2008
Posts: 61
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| Post: #124 Posted: Wed Oct 07, 2009 12:13 pm Post subject: |
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| natarajmtech wrote: | What more conformation wanted ?
Enter for short today ... It is unfortunate that STS crossover could not been visible due to the text on the chart overlap but I belive it should have crossed red line from top
See the attached chart for today
Regards,
Nataraj |
It looks nifty taking support at around 5055 , the 38.2% fibonnaci retracement level...so book profit around 5056 and reenter after breaking 5054 for a proposed target of 5031.
Regards,
Nataraj
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natarajmtech
White Belt
Joined: 13 Oct 2008
Posts: 61
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| Post: #125 Posted: Wed Oct 07, 2009 12:16 pm Post subject: |
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| natarajmtech wrote: | | natarajmtech wrote: | What more conformation wanted ?
Enter for short today ... It is unfortunate that STS crossover could not been visible due to the text on the chart overlap but I belive it should have crossed red line from top
See the attached chart for today
Regards,
Nataraj |
It looks nifty taking support at around 5055 , the 38.2% fibonnaci retracement level...so book profit around 5056 and reenter after breaking 5054 for a proposed target of 5031.
Regards,
Nataraj |
Good the nifty broke 5054..so the target is 5031 or below is confirmed
Regards,
Nataraj
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simran8998
White Belt
Joined: 19 Mar 2009
Posts: 34
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| Post: #126 Posted: Wed Oct 07, 2009 12:19 pm Post subject: |
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natarajmtech
How you calculated 5031? it is neither high nor low
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natarajmtech
White Belt
Joined: 13 Oct 2008
Posts: 61
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| Post: #127 Posted: Wed Oct 07, 2009 12:19 pm Post subject: |
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| natarajmtech wrote: | | natarajmtech wrote: | | natarajmtech wrote: | What more conformation wanted ?
Enter for short today ... It is unfortunate that STS crossover could not been visible due to the text on the chart overlap but I belive it should have crossed red line from top
See the attached chart for today
Regards,
Nataraj |
It looks nifty taking support at around 5055 , the 38.2% fibonnaci retracement level...so book profit around 5056 and reenter after breaking 5054 for a proposed target of 5031.
Regards,
Nataraj |
Good the nifty broke 5054..so the target is 5031 or below is confirmed
Regards,
Nataraj |
Wow...what a setup.... upon breaking 5054...the nifty dragged to days's low and even going strong on downside...
Simran...why you did not agree with the setup proposed by me today ?
Regards,
Nataraj
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simran8998
White Belt
Joined: 19 Mar 2009
Posts: 34
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| Post: #128 Posted: Wed Oct 07, 2009 12:22 pm Post subject: |
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natarajmtech
What was day's low before this setup.
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natarajmtech
White Belt
Joined: 13 Oct 2008
Posts: 61
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| Post: #129 Posted: Wed Oct 07, 2009 12:26 pm Post subject: |
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| simran8998 wrote: | natarajmtech
How you calculated 5031? it is neither high nor low |
~5030 was the days' low until the current low of 5023.7 created just a while back. If you do not belive me please see the opening price of nifty today in yahoo RT chart which is still indicating the 5031.7 as the opening price of the nifty
Regards,
Nataraj
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simran8998
White Belt
Joined: 19 Mar 2009
Posts: 34
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| Post: #130 Posted: Wed Oct 07, 2009 12:27 pm Post subject: |
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natarajmtech
But it is not showing on chart
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natarajmtech
White Belt
Joined: 13 Oct 2008
Posts: 61
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| Post: #131 Posted: Wed Oct 07, 2009 12:32 pm Post subject: |
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| simran8998 wrote: | | natarajmtech wrote: | | simran8998 wrote: | natarajmtech
How you calculated 5031? it is neither high nor low |
~5030 was the days' low until the current low of 5023.7 created just a while back. If you do not belive me please see the opening price of nifty today in yahoo RT chart which is still indicating the 5031.7 as the opening price of the nifty
Regards,
Nataraj |
But it is not showing on chart |
Yes, It is being a problem with yahoo RT chart that I noticed several time, the opening candle is not reflective of actual price movement so I always refer the text posted below the chart for the days' low and high
Regards,
Nataraj
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natarajmtech
White Belt
Joined: 13 Oct 2008
Posts: 61
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| Post: #132 Posted: Thu Oct 08, 2009 1:32 pm Post subject: |
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Hi,
Today's proposed NVK setup along with STS indicator - for a shorting opertunity in nifty future.
See attached plot with this message.
Regards,
Nataraj
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simran8998
White Belt
Joined: 19 Mar 2009
Posts: 34
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| Post: #133 Posted: Thu Oct 08, 2009 1:35 pm Post subject: |
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Hi, natarajmtech
I am also thinking the same. I want to know why you set Sl @ 5055? why not @ 5045?
Now wait & see whether SL hit or Target hit.
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natarajmtech
White Belt
Joined: 13 Oct 2008
Posts: 61
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| Post: #134 Posted: Thu Oct 08, 2009 1:39 pm Post subject: |
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| simran8998 wrote: | Hi, natarajmtech
I am also thinking the same. I want to know why you set Sl @ 5055? why not @ 5045?
Now wait & see whether SL hit or Target hit.
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Hi Simran,
Since 10 points above the high of double top is the rule of NVK setup proposed originally by Saikat...so here the top is 4043 and it is also the days' high.
Regards,
Nataraj
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simran8998
White Belt
Joined: 19 Mar 2009
Posts: 34
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| Post: #135 Posted: Thu Oct 08, 2009 1:40 pm Post subject: |
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natarajmtech
Thanks for your reply. What do you think whether target will hit or not?
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