Some interesting feedback on the Expiry calculations done here yesterday.
But allow me to gently tell you, that now that the market is open, we trade on the information available. As traders we live in the "Now".
So though we are tar-getting 4985-4995, let's remember the order flow coming to our screens today should communicate to us our yesterday's targets.
Supports are at 4887 NF and 4862 and resistances at 4935 and 4968 NF of May.
Trade well.
----------------------------------------------------------------
10.00.
First resistance at 4935 playing out.
I have edited the second resistance to 4968 NF ( May ). Please note.
-------------------------------
10.32
Early signs of a trend day developing.If this is true then the market should not come below 4930 NF (may) today.
--------------------------------------------------------------------
12.42
Markets are playing out at 4970 levels.
I suggest partial booking of longs here.
We may still get to 4995 levels.Those who want to hold can hold with a SL below 4950 Nifty spot levels and I suggest to move to June Future here.
---------------------------------------------------
13.43
Deepak asks,
Dear Shai as per your old post i was checking the close this expiry - the range comes to 4828 to 5006 - since the OI in 4900 puts and 5000 calls is very high - based on your analysis the closing should be close to 5006 - can we assume closing to be at 4990 levels - best regards Deepak
I made the post yesterday: http://vtrender.blogspot.com/2010/05/nifty-expiry.html.
Based on Open Interest the projected high was to be 4991 NF. We made it to 4972 so far. I had also pointed out that 4968 was to be a resistance area and I put in a post to book some longs there.
Why didn't I wait for my target of 4991 ?
It's only two words. Risk : Reward.
At resistance or supports you evaluate whether you are still getting a good deal out of your position.The lower support was 4951 twenty points away and the target was also 20 points away. So I suggested we take some profits.
The actual support is 4930 NF but the risk reward did not suggest giving the market back 40 points to get a gain of 20 points.Not good business in my opinion.
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Thursday, May 27, 2010
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80 comments:
hi its very intresting .....but i am trying to send a msg...ravi
ya ...its success to send a msg to u....ok now cleared....
@shai
thnx fr the update..
hi shai,
plz provide the link for amibroker
AFL CODEE FOR MP and VP.
I NEED UR HELP IN SETTING IT UP IN AMIBROKER ALSO.
THANX IN ADVANCE.
Sir, i need the same as Dr.Saurabh.. Fellow traders any one of you know please help us.. It reduce Shai's work load.
HI sara,
thanx to be on the same side
if u get anything plz communicate with me
Sure sir i will do.. I saw one post by MOK with Volume profile chart, so he also know well. If he see this message please help us
@sara
i asked him already,
he directed me to shai for this code.
shai only helped mok with it.
Gm Shai,
Today though I late start but i take long position as per ur previous analysis of expiry yesterday itself.
Now hope to get out near 4985 levels today.
Dr.Saurabh,
I too have the AFL code. Its avail in http://vtrender.blogspot.com/2010/05/mp-to-test.html is post. But i am new to Amibroker so i don't know how to insert it to the indicator.
That's the problem. Y.day only i was downloaded amibroker trial version with yahoo data feed for RT. Once i get comfort plan for a paid one for Realtime data.
dear shai....as per ur view i didnt take the put (my fool TA's reco} . now i save 1000rs ...thank u verymuch
thanx sara
will
catch with u later
going for some work
Ravi,
happy for you :).
Sara, dr Saurabh,
In amibroker open 'analysis' and paste the code in 'formula editor'. Now open any price chart and drag the code to it.
@ shai
cn u explain v nf jun or beta stocks jun series is still n discount..(tisco,suzlon.uni.bajaj hind)
hope its not a trap..below 4930..
the suicide u wr speaking of yesterday:)
prima facia dosent look like
thanks shai...for ur kind reply ...but i have one doubt ...how i get ur msgs at the same time...now i want to refresh the blog always...
Sir....
Got it.. Now able view MP in my chart.
Thanks a ton...
realy its amazing ....i accidently saw ur site yesterday night and today i saved from short??? how can i send a gift to u. pls give ur phonenumber or mail id here
Manu,
larger move still points downward. The discount of june will change once we trade above 5030-5060.
hi shai,
nice concept of the monthly MP & OI comparision.
this is a very novel site with new territories,
holding for the new resistance now.
best regards
hi sara,
shai had left a post to refer the http://vtrender.blogspot.com/search/label/Market%20Profile%20Classroom on MP materials. I had left my answer for both of you there.
Hi Mok,
Thanks for your post. Hour back Shai helped me and now i am able view MP in my Amibroker..
Thanks
its ok sara, i left my note for you earlier to that ... :)
keep interacting with shai, there is lots to pick up here than levels alone. all the best.
dear mok,
whats mp in amibrocker and whats the use of it
@ ravi
suggest go thro the archive posts here systematically. between viren and shai they have explained MP and its concept.
To put it in a nutshell, its making a pattern of price and volume and time, and finding the flow and its concentration. Its better than regular indicators.
Ami is one of many charting software.
My explanation will nt be adequate for you since i am only slightly better than you, having picked up my knowledge after shai and viren introduced it. Thats why i direct people to find it out direct from shai and viren, who know what it actually is ... :)
thanks for ur nice reply ...will ask to shai when he is free....
and one morething ...mok...from where i get that software ...send me the link if u have
hi ravi
refer sara comment above
"I too have the AFL code. Its avail in
http://vtrender.blogspot.com/2010/05/mp-to-test.html
"
this link also has it.
i didnt get it from that link.. any way leave it ..i am disturbing u very much...
ravi
http://www.4shared.com/file/6Sl94Gck/MP_online.html
and download it
hi shai,
can i ask you to put the download link "http://www.4shared.com/file/6Sl94Gck/MP_online.html" in the MP classroom ! thanks.
ya downloaded...
Nifty March towards your target.. Cheer
ya shai...i book profite in my long
thank u very much ....
:)
Mok,
Thanks for posting that link.I'll add it to the classroom.
Also need to update some new material there.
( didn't figure out your mail) ??
does not matter shai, will write later again,
will forward some materials on MP also,
thanks.
regards
Dear Shai, any shorts in nifty recommended near 4995??
Thanks
yes Bizagra,
4995 (spot) will provide a good shorting opportunity.
shai...its really wonderful. today i book profit and escape from one short call...
dear mok...will u suggetst me onething also...how we get the updation of msgs from this blog...we want to refresh every time?
ravi
you can consider subscribe to email option, and get the updation.
though i keep coming back and see fresh ..
or if i am in site i prefer the F5 refresh.
in firefox you can put an addon extension and set it to refresh at given duration.
but you may have comment posting problems in firefox.
ok mok thank u verymuch
..fire fox updating
thank u mok...for ur kind advice
Dear Shai as per your old post i was checking the close this expiry - the range comes to 4828 to 5006 - since the OI in 4900 puts and 5000 calls is very high - based on your analysis the closing should be close to 5006 - can we assume closing to be at 4990 levels - best regards Deepak
Dear Shai - as i was busy going through your archives to see what i have missed out i did not see you current posts - my apologies for inconvenience - I have however keep asking you questions as i go along - thanks Deepak
deepak
shai had said thus :
"you are welcome to ask your questions over there in the comments section.Those with further doubts can correspond through email as well."
http://vtrender.blogspot.com/2010/05/forum.html
regards
mok
I don't think the spot went below 4949.My terminal gives me a low of 4950.
Generally I give levels off the chart I trade, but since today is expiry there is confusion between two series and levels can get botched up.
Dear Shai, yr expiry analysis is gr8.Thanks
where can i learn it????
hi biz
OI learn here
http://vtrender.blogspot.com/2010/03/nifty-expiry.html
:)
Thanks Mok
How many people caught this move from 4891 yesterday and how many points made?
I did.
Mate you rock !!!
Thanks Shai.
Some amazing trades In my account!
hi viren
:)
Viren,
We need to catch on the market profile charts.
I think I have your "max pain" worked out !!
Hi Mok !
Did you get that move...100 points in 24 hours all clear.
Dear Shai, i got profit from yr levels.Thanks.
Shai, will it be good to short here, when markets trading above 5 day high ema??
Thanks
Bizagra,
Finally you went long !! :) . Good.
Dear Shai - today i was about to short when nifty was below 4930 but saw your message stating that nifty should not go below 4930 - i bought 4900 call option 2 lots at 4944 and squared them off at 4980 - thanks Deepak
Hahahhah Shai, yes..thanks
Sir..
I too but in two part closed y.day one and enter again today.
we'll decide next course at the open tomorrow.Let's see how it shapes up related to today's close.
Next 60 points are a decider !!
hi shai...today i got profit through ur long view ...and i escaped from one short call
made an entry, but booked early out,
Viren, this series going to be more into it.
not only great concept uncovered here, but a specialized presentation between the two of you,
i am really glad knowing the two of you.
all the best, and thanks.
will learn into it more here.
and, viren, keep posting ... :)
Mok,
Cheers. :)
but now i look some greedy...i wish to chase u always ...whats the way...i think its impossible to open this blog fulltime...any sugg shai...can i get ur bolg through mobile if i load a gprs there?
Shai,
NF of may will close at your POC line !!!!
Ravi,
I'm open to some suggestions to speed the communication up.
could see the possiblities for a twitter updates and monitoring the twitter participants in their mobile.
or, subscribe to post, and monitor on mobile,
or subscribe to comments on email, and monitor on mobile.
should be possible to remain updated ... ravi, you see other blog modalities and practical utility values and your own observations and suggest.
manu monitors blogs and comments on mobile and netbooks,
he would be able to suggest too,
manu, if you are reading this ....
:)
Yes it makes sense to get everything in real time.No point posting a call to see it go up twenty points and then get it !
When we don't tolerate lag in our indicators, information should be no different!
bye shai, viren,
hope to see you more often viren
take care
bye
dear shai..
can i get this code for metastock?
UR PREDICTION WAS JUST GREAT...ALTHOUGH I JUST OBSERVED...CAN U ALSO TELL IF NIFTY IS HEADING UP OR IS IT GOING TO COME BACK TO 4800 LEVELS SOON AGAIN...CAN WE SHORT NIFTY AT 5050 LEVELS?...THANKS
shai pa ji..
good job ..viren too doing balle balle ..
keep this more lively going..change font size too..mok can help..he manages very well..
@ravi
I hv a BB and a htc..it all depends wht u speed u get..
fr notebooks nw i m enjoying Wimax..no ungli nw:)
@ Shai,
U R simply gr8.
I GOT 50 NFT PTS 2DAY! from ur
expiry prdctn.
Can u try this logic of OI for positinal calls?
Rgds
rtm
Hello sir,,
superb expiry calculation...thanx
man
u people hav hit the bulls eye
see the no. of comments
u guys are a hero now
what say
cheers
Rochak,
Good to see you back!.I know u were disappointed on not receiving timely alerts!Hope today made up.
Ravindra,
Open Interest is tricky, but with market profile it is a winner! we hope to deliver more.
manu,
What's wrong with the font??
Ramesh,
I've never used metastock, so sorry can't help.
AFL link for downloading MP AFL file:
http://www.4shared.com/file/6Sl94Gck/MP_online.htm
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