| View previous topic :: View next topic |
| Author |
SP Nifty Positional Trades (+500 points per month) |
rakpeds
White Belt
Joined: 24 Jun 2012
Posts: 481
|
Post: #31  Posted: Wed Aug 01, 2012 12:44 pm Post subject: |
 |
|
| shankaar10 wrote: | RAK,
you are bang on with strategy, good going.
STEP;
look for trend, if u are middle of the trend then go with the trend up to next level and wait for green or red candle below or above that level. be careful with rejection candles. wait for minimum full 5 point candle to prove that trend is in the direction of support and resistance level.
wish you good luck.
shankarr parray |
sp sir thanks for the prompt reply. Actually i do not know the strategy which you are using... is there any thread where you have mentioned the strategy or dicsussed,
sorry for the dumb question |
|
| Back to top |
|
 |
|
|
|
sivgates
White Belt
Joined: 05 Apr 2011
Posts: 313
|
| Post: #32 Posted: Wed Aug 01, 2012 12:48 pm Post subject: Hi |
|
|
Shankaar,
How to use that 44 formula to find the support or resistance?
We need to divide the yesterday to find the support and resistance for today.
For example NF high was 5247....so dividing that 5247 /4 ==119.25.
Then Resistance is 5247 +119.25 = 5366.25
Support is 5247 - 119.25 = 5127.75.
But this two value is so far from the current level..
How to find immediate support and resistance with this 44 formula?
If I am wrong please correct the same
Regards
Sivgates |
|
| Back to top |
|
|
chetan83
Brown Belt
Joined: 19 Feb 2010
Posts: 2036
|
| Post: #33 Posted: Wed Aug 01, 2012 1:04 pm Post subject: |
|
|
| shankaar10 wrote: | RAK, As already mentioned if you are in positional swing you should follow only strategy otherwise you can divide cetrain % in to positional and day trading and use the level mentioned to get in get out.
one more tool for day trades can use:
if you are in to day trading use 44 formula ie divide nifty spot say todays high 5239/44 = 119 that was the resistance wise versa below -44 will be support level.
wish you good luck, hope you will benefit this way.
Brgds, |
Dear Shankar,
Nifty high/low is to be taken based on EOD of last day? As during the day, one cannot say the exact high or low.....it may further move UP or DOWN.
Pls elaborate on this.
Chetan. |
|
| Back to top |
|
|
shankaar10
Black Belt
Joined: 01 Apr 2012
Posts: 2739
|
| Post: #34 Posted: Wed Aug 01, 2012 3:32 pm Post subject: |
|
|
Long is intact, let us hope it will sustain tomorrow.
chetan,
you can plan end of the day your buy sell for next day based on the strategy and check the same at the opening numbers.
brgds, |
|
| Back to top |
|
|
bala49
White Belt
Joined: 20 Feb 2009
Posts: 21
|
| Post: #35 Posted: Wed Aug 01, 2012 7:48 pm Post subject: |
|
|
Shankar,
Can u pl.elaborate? It is confusing.
Bala |
|
| Back to top |
|
|
shankaar10
Black Belt
Joined: 01 Apr 2012
Posts: 2739
|
| Post: #36 Posted: Thu Aug 02, 2012 9:53 am Post subject: |
|
|
Good morning,
As per statistics Sep month is bear month, let us hope there will be direction soon.
Bala,
this thread is for positional swing, day trading strategy came up during discussion so let me know your query whether it is for day trading or long swing.
Brgds, |
|
| Back to top |
|
|
smartcancerian
Yellow Belt
Joined: 07 Apr 2010
Posts: 542
|
| Post: #37 Posted: Thu Aug 02, 2012 10:04 am Post subject: |
|
|
Hello shankaar10..ystday high was 5266.80(eod)..so.we shall act like this.TODAY...5266.80/44=119.70.....
now 119.70*44=5266.80 First resistance
120.70*44= 5310.80 next resistance
&
118.70*44=5222.80 is kind of first support
117.70*44= 5178.80 is 2nd support..
Am I correct in undertstanding..??
Also what is logic for choosing 44..??
Last edited by smartcancerian on Thu Aug 02, 2012 10:05 am; edited 1 time in total |
|
| Back to top |
|
|
mukesh1984
White Belt
Joined: 16 Jul 2012
Posts: 3
|
| Post: #38 Posted: Thu Aug 02, 2012 10:04 am Post subject: |
|
|
Dear Shankar,
can u please explain the eod Strategy means how to calculate todays level on the basis of yeaterday high low can u put an example? |
|
| Back to top |
|
|
shankaar10
Black Belt
Joined: 01 Apr 2012
Posts: 2739
|
| Post: #39 Posted: Thu Aug 02, 2012 10:59 am Post subject: |
|
|
Have posted the day trading strategy as a separate thread, please use the same for any comments and your trades so you can keep a track of the success.
Cheers. |
|
| Back to top |
|
|
shankaar10
Black Belt
Joined: 01 Apr 2012
Posts: 2739
|
| Post: #40 Posted: Thu Aug 02, 2012 11:02 am Post subject: |
|
|
| Sell signal triggered at 5218. |
|
| Back to top |
|
|
ridinghood
Yellow Belt
Joined: 16 Apr 2009
Posts: 724
|
| Post: #41 Posted: Thu Aug 02, 2012 11:27 am Post subject: |
|
|
shankar wrote: | Quote: | Sell signal triggered at 5218.
|
hi sir,
nf low so far is 5227. are u referring to spot level?
regs
ridinghood |
|
| Back to top |
|
|
shankaar10
Black Belt
Joined: 01 Apr 2012
Posts: 2739
|
| Post: #42 Posted: Thu Aug 02, 2012 11:35 am Post subject: |
|
|
| Yes it is spot. |
|
| Back to top |
|
|
ridinghood
Yellow Belt
Joined: 16 Apr 2009
Posts: 724
|
| Post: #43 Posted: Thu Aug 02, 2012 11:44 am Post subject: |
|
|
shankar sir,
thnx
regs
ridinghood |
|
| Back to top |
|
|
meher123
White Belt
Joined: 21 Apr 2011
Posts: 28
|
| Post: #44 Posted: Thu Aug 02, 2012 12:19 pm Post subject: |
|
|
Strategy is quite simple.
1) Strategy based on Nifty Spot
2) Divide nifty spot level with 44 ie: 5100/44 = 115.9
115 x 44 = 5060 is support or resistance
116 x 44 = 5104 is support or resistance
3) Take long or short position only with 5 point green candle for long or 5 point red candle (Short) above or below support resistance level.
Attached exel sheet provides you the support resistance level.
Best regards,
Shankarr Parray |
|
| Back to top |
|
|
shahrachit
White Belt
Joined: 12 Jul 2012
Posts: 117
|
| Post: #45 Posted: Thu Aug 02, 2012 12:21 pm Post subject: |
|
|
| meher123 wrote: | Strategy is quite simple.
1) Strategy based on Nifty Spot
2) Divide nifty spot level with 44 ie: 5100/44 = 115.9
115 x 44 = 5060 is support or resistance
116 x 44 = 5104 is support or resistance
3) Take long or short position only with 5 point green candle for long or 5 point red candle (Short) above or below support resistance level.
Attached exel sheet provides you the support resistance level.
Best regards,
Shankarr Parray |
Hi Shankarr,
How to get this 5 point green/red candle and there is no excel sheet attached.
Please attach the excel again.
Thanks |
|
| Back to top |
|
|
|
FAQ
Search
Memberlist
Usergroups
Register
Profile
Log in to check your private messages
Log in
