I know no one can be 100% sure but if experienced traders can share if there is any way or tool I can use to predict nifty will go up or down ?

I know global news affect nifty but I am looking for specific tools or technical indicators …if they are useful …which ones do you use?

@curiousvi

hmm, how about a coin?

works better than a technical indicator.

4 Likes

First of all, let me tell its 50-50 whether Nifty will go up or down next day.

Now first u listen to analyst on CNBC, whether they say up or down. But remember, CNBC analyst can give real prediction or even trapping by giving opposite view. So again, its 50-50 next day.

Now we see SGX Nifty and whether its positive or negative. But remember, SGX Nifty mostly turns out to be useless. So still its 50-50

Then we can do one thing check Nifty after preopen session. But remember, the trend during the trading session can be opposite to pre open session also. So again its 50-50

Then check first 15 minutes of trading until 9:30 am, but again trend later can be different

Then check until 10 am, 11 am and so on, but everywhere, the further trend could be same or opposite.

So by principle of mathematical induction, as its true for 1, 2, 3, … upto N, we can confirm Nifty can be up or down its 50-50

Hence, Proved.

4 Likes

SGX nifty, World markets - How Europe closed, How US closed, How Asia (japan,singapore) is opening this morning., What is the trend in NF daily TF, What is options OI data suggesting? etc etc etc

can you please explain how do I use options OI data …I think I read somewhere that max. call OI suggests resistance and put OI indicates support …but how does that help determine trend?

1 Like

Trend is not an isolated phenomenon. S-Rs are integral parts of it. So OIs suggest strong S-Rs. But if you look at the “change in OIs” data you can guess market sentiment.

Eg. Suppose Max put OI @10600 & Max call OI @ 10800. You have got probable SRs. Now if today’s market was rangebound but you see more OIs getting added in 10800 CE side than 10600 PE side that means writers are more than willing to sell 10800 CEs than 10600 PEs that meas they are sure that the probability of 10800 breaching is way less than 10600 breaching. That means market sentiment is bearish.

Eg. If in 2-3 days 10600-10800 range moves to 10700-10900 ie max OIs at 10700PE & 10900CE. This means market is bullish.

1 Like