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NF Trading Levels for 08.04.2009

 
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Author NF Trading Levels for 08.04.2009
SwingTrader
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Post: #1   PostPosted: Tue Apr 07, 2009 10:04 pm    Post subject: NF Trading Levels for 08.04.2009 Reply with quote

NF Trading Levels for 08.04.2009

** SORRY, I JUST REALISED THAT I HAD TYPED THE DATE WRONG HERE AND IN THE TOPIC TITLE TOO. FIXED IT NOW ***


R5 3360.75
R4 3328.29
R3 3317.06
R2 3295.83
R1 3288.17
BULL 3275.77
LOC 3259.54
BEAR 3243.31
S1 3230.91
S2 3223.25
S3 3202.02
S4 3190.79
S5 3158.33

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Last edited by SwingTrader on Wed Apr 08, 2009 10:06 pm; edited 2 times in total
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nyse
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Post: #2   PostPosted: Tue Apr 07, 2009 11:22 pm    Post subject: Reply with quote

bull or bear Exclamation
if market opens gap down at at lower support then what
cheers
nyse
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SwingTrader
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Post: #3   PostPosted: Wed Apr 08, 2009 10:00 am    Post subject: Reply with quote

nyse wrote:
bull or bear Exclamation
if market opens gap down at at lower support then what
cheers
nyse


Most of the time such a move will mean a gradual rally or sideways movement from lower support. But a break of the lower support would mean a continuation of the fall to lower levels.

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Post: #4   PostPosted: Wed Apr 08, 2009 10:01 am    Post subject: Reply with quote

The huge gap down resulted in market opening near S5 level. Here are S6 & S7 levels, if required.

S6 3119.31
S7 3105.68

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Post: #5   PostPosted: Wed Apr 08, 2009 3:52 pm    Post subject: Followup Reply with quote

What a day!!! Well, we didn't require S6 & S7 that I posted after mkt open today but we did use up all the levels right from S5 to R5!!!

Today's chart is posted below with all levels marked.

Today's massive move has created a clutter of levels. Many levels look meaningless on such days, keys levels standout though. For example: levels R1, R3 and S1 and S3 (marked as YELLOW on the chart) seem meaningless on such days where as other levels stand out. But on sideways days even these levels become critical, on such days market stays range bound between LOC and R1 or S1 (see followups of previous days, especially 27th, 31st Mar and 6th April). The earliest indication of a trend day is a break beyond these levels.

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Rcandle
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Post: #6   PostPosted: Wed Apr 08, 2009 7:45 pm    Post subject: todays lavel Reply with quote

Srikanth congrats sir,
still i doubt whether as per yours name u r a swing trader or day trader!!!!!???
fentastic from s5 to R5,ofcourse i captured from 3165 to 3355
keep it up
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nyse
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Post: #7   PostPosted: Wed Apr 08, 2009 7:51 pm    Post subject: Reply with quote

hi swingtrader,
attached chart is going up up up and over my head Confused
wud have been better if 30 min candles were used.
neways going to cut my longs in futures 2marrow
still not sure what to do with all the calls i have
thanks alot
cheers
nyse
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SwingTrader
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Post: #8   PostPosted: Wed Apr 08, 2009 9:51 pm    Post subject: Re: todays lavel Reply with quote

Rcandle wrote:
Srikanth congrats sir,
still i doubt whether as per yours name u r a swing trader or day trader!!!!!???
fentastic from s5 to R5,ofcourse i captured from 3165 to 3355
keep it up


Smile 3165 to 3355 was good trade, congrats!

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SwingTrader
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Post: #9   PostPosted: Wed Apr 08, 2009 9:52 pm    Post subject: Reply with quote

nyse wrote:
hi swingtrader,
attached chart is going up up up and over my head Confused
wud have been better if 30 min candles were used.
neways going to cut my longs in futures 2marrow
still not sure what to do with all the calls i have
thanks alot
cheers
nyse


I used 5 min candles just to clearly indicate the levels at which there was significant support/resistance.

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