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Trading Gartleys |
chetan83
Brown Belt
Joined: 19 Feb 2010
Posts: 2036
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Post: #16  Posted: Sat Jan 29, 2011 3:48 pm Post subject: |
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| shekharinvest wrote: | | amitkbaid1008 wrote: |
Shekhar
Why just NIFTYBEES why not NIFTY Futures or Call Option?
It just around 150 points of SL & gains can be huge!!! |
Amit,
i) One cannot go with "calls only' because we do not know how long will it take to achieve the targets and then there is a price attached to buying the calls and rolling them over and over. Presently March 2011 5500 CE is @ 242 and April 2011 5500 CE@ 290 if we buy a long term call.
ii) Similarly with NF one has to deal with M to M on daily basis.
iii) Niftybees has a very good attribute that it affords us good nights sleep. 
iv) Most important of all I am trading Gartley for the first time.
If you need larger exposer simply buy more in numbers.
SHEKHAR |
Hi,
So NiftyBees, is trading at 558, so purchasing it is just like owing a stock I guess. B'coz there is no LOT SIZE in it. Also as per ur assumption of reaching NF at 6200 or abv may see NiftyBees at 620 odd levels, so exactly how a person is benifiting here by just Rs.62/- gain.
Pls elaborate, if I am wrong.
Regards,
Chetan.
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amitkbaid1008
Yellow Belt
Joined: 04 Mar 2009
Posts: 540
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| Post: #17 Posted: Sat Jan 29, 2011 4:51 pm Post subject: |
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| chetan83 wrote: | | shekharinvest wrote: | | amitkbaid1008 wrote: |
Shekhar
Why just NIFTYBEES why not NIFTY Futures or Call Option?
It just around 150 points of SL & gains can be huge!!! |
Amit,
i) One cannot go with "calls only' because we do not know how long will it take to achieve the targets and then there is a price attached to buying the calls and rolling them over and over. Presently March 2011 5500 CE is @ 242 and April 2011 5500 CE@ 290 if we buy a long term call.
ii) Similarly with NF one has to deal with M to M on daily basis.
iii) Niftybees has a very good attribute that it affords us good nights sleep.
iv) Most important of all I am trading Gartley for the first time.
If you need larger exposer simply buy more in numbers.
SHEKHAR |
Hi,
So NiftyBees, is trading at 558, so purchasing it is just like owing a stock I guess. B'coz there is no LOT SIZE in it. Also as per ur assumption of reaching NF at 6200 or abv may see NiftyBees at 620 odd levels, so exactly how a person is benifiting here by just Rs.62/- gain.
Pls elaborate, if I am wrong.
Regards,
Chetan. |
Dear Chetan dont look as just Rs. 62 it is more than 11% gain
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ashis
White Belt
Joined: 28 Mar 2010
Posts: 75
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| Post: #18 Posted: Sat Jan 29, 2011 10:36 pm Post subject: |
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Dear Shekhar
After achiving D you show up move arrow.
So After completing bullinsh Gartley patern @D what would be the target of UP move? D point + 990 (diffrence of XA) is it right?
Awaiting for comment.
Ashis
| shekharinvest wrote: | Sandew
Hi 
amitkbaid1008
One point to note here that C-D cannot be more than .786 of X-A which comes to 5560. The range 5530-5560 appears to be a most probable zone if it happens to be a Gartley.
Otherwise their are many other possibilities.
For rest of the ppl I had read about Gartley a long time ago, it was by chance that pattern struck to me yesterday and I tried to do some maths. I am as ignorant as you about this setup. So it would be difficult for me to make any comment on the matter.
Just Wait and watch.
SHEKHAR |
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shekharinvest
Yellow Belt
Joined: 21 Dec 2007
Posts: 549
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| Post: #19 Posted: Mon Jan 31, 2011 2:51 pm Post subject: |
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| shekharinvest wrote: | Bought some Niftybees @ 5500 NS SL below X will add some more if get lower levels in coming days.
SHEKHAR |
Added few more @5450 SL below X for full quantity. Although there is no buy indication. Just hoping that SL will be saved.
SHEKHAR
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Ravi_S
Yellow Belt
Joined: 15 Jun 2009
Posts: 569
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| Post: #20 Posted: Mon Jan 31, 2011 3:06 pm Post subject: |
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Shekar what is your XX
| shekharinvest wrote: | | shekharinvest wrote: | Bought some Niftybees @ 5500 NS SL below X will add some more if get lower levels in coming days.
SHEKHAR |
Added few more @5450 SL below X for full quantity. Although there is no buy indication. Just hoping that SL will be saved.
SHEKHAR |
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amitkbaid1008
Yellow Belt
Joined: 04 Mar 2009
Posts: 540
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| Post: #21 Posted: Mon Jan 31, 2011 7:28 pm Post subject: |
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| Ravi_S wrote: | Shekar what is your XX
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Hi Ravi,
If you go through this thread from first post you will know that "X" is the starting point of Gartley which is well mentioned as 5349 NS
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acharyams
Yellow Belt
Joined: 04 Jul 2010
Posts: 552
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| Post: #22 Posted: Sat Feb 05, 2011 1:10 pm Post subject: |
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| did u add most yesterday?
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chetan83
Brown Belt
Joined: 19 Feb 2010
Posts: 2036
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| Post: #23 Posted: Sat Feb 05, 2011 2:41 pm Post subject: |
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| amitkbaid1008 wrote: | | chetan83 wrote: | | shekharinvest wrote: | | amitkbaid1008 wrote: |
Shekhar
Why just NIFTYBEES why not NIFTY Futures or Call Option?
It just around 150 points of SL & gains can be huge!!! |
Amit,
i) One cannot go with "calls only' because we do not know how long will it take to achieve the targets and then there is a price attached to buying the calls and rolling them over and over. Presently March 2011 5500 CE is @ 242 and April 2011 5500 CE@ 290 if we buy a long term call.
ii) Similarly with NF one has to deal with M to M on daily basis.
iii) Niftybees has a very good attribute that it affords us good nights sleep.
iv) Most important of all I am trading Gartley for the first time.
If you need larger exposer simply buy more in numbers.
SHEKHAR |
Hi,
So NiftyBees, is trading at 558, so purchasing it is just like owing a stock I guess. B'coz there is no LOT SIZE in it. Also as per ur assumption of reaching NF at 6200 or abv may see NiftyBees at 620 odd levels, so exactly how a person is benifiting here by just Rs.62/- gain.
Pls elaborate, if I am wrong.
Regards,
Chetan. |
Dear Chetan dont look as just Rs. 62 it is more than 11% gain |
Hi,
NF bees trading at 546, i guess 534 is the level to watch for (Monthly S1). Also weekly trendline is broken, as it has closed below it (see the chart).
Need to survive above 556 in coming week..........or else...
Regards,
Chetan.
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acharyams
Yellow Belt
Joined: 04 Jul 2010
Posts: 552
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| Post: #24 Posted: Tue Feb 08, 2011 11:38 am Post subject: |
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Sirs,
Is 5349 (X) ns on closing basis?
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shekharinvest
Yellow Belt
Joined: 21 Dec 2007
Posts: 549
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| Post: #25 Posted: Tue Feb 08, 2011 6:50 pm Post subject: |
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| acharyams wrote: | Sirs,
Is 5349 (X) ns on closing basis? |
Yes, and Nifty has failed to form a Gartley. Trade closed. 
SHEKHAR
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jjm
White Belt
Joined: 17 Mar 2010
Posts: 411
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| Post: #26 Posted: Thu Feb 10, 2011 7:19 pm Post subject: RIl Gartley |
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Dear Shekharji,
Pls have look at chart and requested to have your valued comments on same
Regards,
JJM
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NS0420
White Belt
Joined: 20 Jan 2011
Posts: 32
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| Post: #27 Posted: Fri Feb 11, 2011 2:17 am Post subject: |
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| Nifty May Bottom Out Near 4950(D) Of The Current XABCD Pattern. Else Can Go Down To 4700...
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shekharinvest
Yellow Belt
Joined: 21 Dec 2007
Posts: 549
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| Post: #28 Posted: Fri Feb 11, 2011 6:10 pm Post subject: |
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| NS0420 wrote: | | Nifty May Bottom Out Near 4950(D) Of The Current XABCD Pattern. Else Can Go Down To 4700... |
I have spotted a possible gartley (NEW) on Nifty, will post when get a little bit free.
I had actually placed some limit order in the morning which did not get filled. Was acting smart with the market. 
Will try to take fresh entry if got at lower levels.
Jjm that's not a Gartley.
SHEKHAR
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jjm
White Belt
Joined: 17 Mar 2010
Posts: 411
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| Post: #29 Posted: Fri Feb 11, 2011 6:59 pm Post subject: |
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Dear Shekhar,
Thanks for reply..I did all the maths levels were not matching
Wanted to have guidance from you
Thanks once again
Regards,
JJM
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shekharinvest
Yellow Belt
Joined: 21 Dec 2007
Posts: 549
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| Post: #30 Posted: Sun Feb 13, 2011 11:04 am Post subject: |
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Here is one more attempt on Gartleys.
The following was observed a few days back hence chart is an old one.
Nifty weekly chart.
X= 4786
A= 6339
B= 5690
C=6181
D = ??? (MAX 78.6% OF X-A = 1220 NS LEVEL 5119)
X-A = 1553
A-B = 649 (MIN 38.2% X-A = 593) DONE 649 ABOUT 41%
C -D = ??
Although AB is not equal to CD in this case
So long as 5119 holds. Target should be 6700 approx.
SHEKHAR
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