iCharts Discussions

[singh.ravee]

[smartcancerian]

Hello raveeji, Actually this method is not performing well on Nifty because of lesser volatility (as spec sir told, till indiavix is below 18 )..so not only jan rather last couple of months, returns in nifty are -ve (having said that, another trader might have different results depending upon his trading style,MM & lots taken). For that spec sir suggested some modifications & exploring different instruments..But I am still struggling with the method..
Vinst is trading on 30tf--he is in postive returns, he shared few days back & as Usual star performer on this method is Jai with his fav horse-Silver..

[singh.ravee]

[Jai2000]

SmartC,

hello! Star performer . This month i got 6 trades in NF. Only 20 points profits (Excluded Brok/Tax) . So overall Negative for me. But i got some good trades @my fav stocks. (Axis, Tatamotors-star of the month ). USDINR last few months giving best return more than my needs, dont know how long it will be ! Silver as usual going good!!

Jai

[gambletrader]

Hi Jai,
Request you to share the list of stocks for which you have been using SSPS method and seem to give better returns than Nifty.Since Nifty is in a tight range instead of waiting for a long time we can see whether other stocks to be followed which have been trending better. And also the time frame and EMA for that particular stock if you don't mind.
Thanks,
Gambler

[anantha]

helo ssps, will u pls explain RELCAPITAL chart of 15m with ur ssps method for last month. pls explain

[anantha]

here is relcapital 15m graph with 13/34 ema pls explain on it

[sandew]

Friday last Eod NF close 6079, high 6082 low 6014.
Friday today Eod NF close 6038, high 6077 low 6026. (first day of Feb series)
(Yesterday Jan 31 expiry; closed at 6034)

========
60M NF
Swing Trend Down,
DSP @ 6157 (one can argue for 6077 being DSP as well)

On charts NF gave a classical Type II rejection off 34 ema sell trade into end of day.
Within a larger trading range of 6011-6120, we now have a tighter range of 6026-6077. These levels coincide with current and potential swing pivot levels.

=====
There is disharmony on the charts. Yesterday while Jan expiry closed at 6034, the Feb future was at premium at 6070. But, when new series started today, NF Feb charts considered base at opening as 6070 and not 6034. This occurs due to incongruity each time when one series end and the next begins. This imbalance gets resolved by close of Monday trade.

So, while NF Feb shows it slipped 35 points in red on Friday, but when compared to yesterday Thursday NF Jan series closing chart readings, NF of Feb is still 4 points above yesterday (6038 vs. 6034); and when compared to chart levels week before, NF Feb still to breach 6011 and now it appears to have taken support here forming a kind of double bottom.

In brief, when chart switch takes place it is best to wait till Monday for charts to absorb the price differential between the last and current NF.

======
My fulcrum is 6062 on NF Feb chart and 6098 on NF March chart. On Feb chart 6044-6060 is NTZ, and 6077-6093 on March chart. These numbers will adjust properly to new series only after Monday trade.

=======
Interestingly,
NF March chart (NF-2) 60M,
Swing Trend continues to remain up with
USP @ 6048 which is still to be breached.

NF2 low was at 6060 and close 6070

========
In such scenario it is worth taking a look at NS 60M chart Friday close:

60M, NS
Swing Trend Down
DSP@ 6112

As today's NS close @ 5998 is below NS last upswing pivot of 6008, on charts one could take home shorts overnight.
My NS NTZ is 6019-6038 and fulcrum 6052.

=========
To note is that while NS breached below 6000, the NF made a double bottom of sorts and is still to breach 6011.
In conclusion, this is only to help understand the incongruity between NS, NF1 and NF2 chart readings, at time of series switch.

===
Footnote:
Lost 12 points on each pair of 6100 Ce and 6000 Pe I traded and mentioned here. Was expecting volatility on RBI news but market did not oblige.
On Feb 28, it is both expiry and budget day - a rarest coincidence. Expect volatility. Plan to play this long strangle again as OTM option premium will be lowest on last day of expiry. Right direction + high volatility + lowest option price = GOLD MINE.

[vinst]

NF 15min, DSP at 5994.
NF 30min DSP at 6120

[sandew]

Friday last Eod NF close 5914, high 5973 low 5900

========
60M NF
Swing Trend Down,
DSP @ 6077

On charts NF gave Type I trade.

=========
NF key levels I am watching for reversal are 5940, 5978 and 6002. NTZ 5946-5968. These levels can also act as resistance. Indicators are oversold.

[vinst]

NF 15min, USP at 5900
NF 30min : someone please update , thanks

[smartcancerian]

NF-30tf...USP is at 5900..

[smartcancerian]

NF-15tf taken out..dntrend start..DSP is 5979..

[sandew]

Friday Feb 08 Eod NF close 5914, high 5973 low 5900 DSP@ 6077
Friday Feb 15 Eod NF close 5884, high 5909 low 5859 DSP@ 5979

========
60M NF
Swing Trend Down,
DSP @ 5979

Type II trade on Feb 14, Thursday

=========
NF key levels I am watching for reversal are 5920, 5942. NTZ 5887-5909 (Previous week 5946-5968). To note is that chart structure is not completely negative considering the reversal levels to go long now are not far from Price Action, rather reversal levels have also concurrently drifted down along with the drift in PA. Caution:These levels can also act as resistance. EOD Indicators are oversold and 60M itching to pop up but needs more confirmation on Monday. Till such confirmation comes the trend on chart is down.

Alternate possible trade scenarios:
On charts, I am to look for rejection at 5920 for short with Sl 5942.
If PA halts at or just crosses and then start drifting back below 5942, I shall then wait and look for going long on rejection off 5920 with SL 5887; or
If PA continues its charge then shall look to go short at 5979 area.
Beyond 5979, trend reverses for target 6077 with SL 5942.
Will carry overnight long trade only when PA is closing above 5979
or
If PA opens flat or down on Monday then i am with trend,i.e., short. Here if I have no position then Spec suggests to wait for PA to retrace to EMA and look for rejection off EMA. How to enter midway in a trend is not discussed by Spec.

[singh.ravee]