iCharts Discussions

[SwingTrader]

NIFTY FUTURES Trading Levels for 20.08.2009

R5 4632.20
R4 4554.20
R3 4527.20
R2 4476.20
R1 4457.75
BULL 4428.00
LOC 4389.00
BEAR 4350.00
S1 4320.20
S2 4301.75
S3 4250.75
S4 4223.75
S5 4145.75

[hbanerji]

have you discontinued posting your daily levels in your forum? are we to refer to the icharts levels for the next day appearing under jcharts premium? interestingly, your personal post on the 20th varied slightly from the icharts levels of the same day and it was an interesting coincidence

[SwingTrader]

hbanerji,

Yes, please use "iCharts Levels" that appear under the JCharts (RT-Premium) applet. These are the levels I am current working to refine. They are slightly different from what I was posting in the forum but do understand that they are very much valid and are as effective as the manually computed levels I was posting here.

Computing levels manually is a lengthy task even for few scrips. We eventually wanted to offer good levels for all intraday scrips we track so we built this feature. We are currently providing levels for most intraday scrips we track (cash, futures & indicies) (except few that do not have sufficient daily trading range).

Please let me know if you have any more questions.

[hbanerji]

below are the levels posted by you for 20.08.09. significantly, as the forecasts progressed from the bull/bear levels, the differences between your manually computed levels and those arrived at by your software increased.

now, here's my poser... having used your levels which were so effective, i find these differences somewhat terrifying to handle. as a rule of thumb, if we are to consider arriving at a rough estimate of your manual levels using the levels being posted now, should we use:
1. cardinal differences, or
2. calculate deviations percentage-wise, from what percentage points arise from the comparison of the table below, or
3. use any other regression model (if you may suggest?)

TABLE
forecasts for 20.08.09
SOFTWARE ST's
GENERATED LEVELS
LEVELS
R5
4738.69 R5 4632.20
R4
4646.93 R4 4554.20
R3
4555.17 R3 4527.20
R2
4498.46 R2 4476.20
R1
4463.41 R1 4457.75
BULL
4428.36 BULL 4428.00
LOC
4389.18 LOC 4389.00
BEAR
4349.99 BEAR 4350.00
S1
4314.94 S1 4320.20
S2
4279.89 S2 4301.75
S3
4223.18 S3 4250.75
S4
4131.42 S4 4223.75
S5
4039.66 S5 4145.75

[SwingTrader]

hbanerji,

I have already mentioned that the iCharts levels differ from the levels I was posting in the forum. Instead of comparing the levels directly like the way you did below, check the levels live during market hours and then decide if iCharts levels are not upto the mark.

[hbanerji]

ST: please do not get me wrong... neither of the two levels are being criticised. rather, having used your levels, i associate a greater degree of confidence to your levels.

i can understand that it might be a huge task for you to keep on posting your manual levels ad infinitum. so, i am trying to find out how i can use the ichart levels and still be in tune with your levels. my question, simply stated is,

how do we arrive at your manually computed levels by manipulating the figures given in icharts levels?

i have also seen a forum for voting for / against the classical approach. needless to say, the software orientation is quicker for you and therefore better. same here for the rest of us.

but there was/is that MAGIC about ST's levels... so i have voted for you. many other will, i am sure. just consider it fanmail

[SwingTrader]

hbanerji,

I think I misunderstood your question to begin with so let me try and answer it again. Do note that you are free to criticise my levels, that is the whole point I have even put up a poll asking for users comments about both the levels. Please do comment frankly on which levels you think are better.

As for trying to derive my manual levels from the icharts levels, it is not possible to do so. If it would have been possible then I would have done it so levels for all scrips would be like my manually computed levels.

Thanks for your support, I greatly appreciate it.