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    Friday, August 21, 2009

    rangeboundness!

    nifty ranged between two falling tlines in last many days(refer charts posted in earlier post).

    todays limits on the tlines are 4538 on upper side and 4348 on the lower side of the range.

    larger range is 4300-4700.

    medium to intermediate positions still long as the uptrend has not broken. fresh positional traders can initiate only on brkout from either side to avoid any whipsaw or getting sl hit, but one or two good opportunities are there for intraday each day.

    opening expected weak today.

    Posted by abhay r somkuwar at 9:49 AM

    6 comments:

    aathihtya said...

    hi abhay ji,

    in intraday trading what will be minimum points in nifty to expect?

    how is your experience regarding the usage of cam levels in nifty , is it highly profitable?

    with warm regards
    aathithya

    August 21, 2009 at 12:06 PM
    abhay r somkuwar said...

    hello aathithya!

    "in intraday trading what will be minimum points in nifty to expect?"

    the nature(and beauty) of stock(financial) mkts is they are never constant, the price behaviour varies from time to time, sometimes consolidating/dull to moving furiously in any direction, as such it tests the skill and disciple of even the most skilled trader/analyst. in a trending mkt one can make good money whether intraday or positional. in intraday on a normal tradeable day, honestly i would be happy or settle for 40 points per day per lot(or more) if mkt gives such chance, if its trading in very narrow range i would not like to trade but wait for a brkout.

    "how is your experience regarding the usage of cam levels in nifty , is it highly profitable?"

    nopes i don't trade by cam lvls(but some traders do swear by its accuracy hence i have put my calculator on the blog sidebar), fibo lvls and price should be sufficient, plus one can use any method/indicator that catches price movement on charts and according to one's suitability, discipline of sl etc.

    regards,
    abhay r somkuwar.

    August 21, 2009 at 4:32 PM
    Giri said...

    Dear Somkuwar,

    Could you please help me understand how to use fibo calculator.

    Thanks a lot,
    Giri

    August 21, 2009 at 8:05 PM
    abhay r somkuwar said...

    giri, its very simple...just input high or peak value and low or trough value for a stock or index on any time frame on the price charts to find the fibonacci retracement lvls(which many times act as significant supports and resistances going forward) of that high low range(can refer charts also posted on this blog and on many forums/blogs/sites on the net).

    August 22, 2009 at 11:35 AM
    aathihtya said...

    hi abhayji,

    thanks a lot

    August 22, 2009 at 3:49 PM
    Giri said...

    Thankyou Mr.Somkuwar

    August 23, 2009 at 7:54 PM

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