Indian Markets Futures Trend Update - 19 January 2011

Nifty Futures
Swing : DOWN
SAR : 5800
Low risk entry : 5740
Target : 5620
Bank Nifty Futures
Swing  : DOWN
SAR :10900
Low risk entry : 10700
Target :10350


  1. @ Anuj

    Good eve.

    Now out of 3 lot remain 1 lot of niftyfuture,
    is it worth to add 1 more lot at LRE @ 5740 ?


  2. Hi abhishek,
    Good eve,we are in this downtrend for quite some time now,and consensus is building for a bearish trend.Everybody was watching 5700 on chart [double, triple and quadruple bottom...and what not :) ] that level came and went,nothing much happened.I feel we are trying to make a base here and consider nifty to be sideways rather than down now.An easy trend channel can be drawn using last one week price pattern.I am trading this channel for the time being.More interested in buying than selling.Good point about low risk entry is that it keeps you in the direction of trend and momentum.Friday LRE gave close to 200 points intraday (must be a record of some sorts),such days dont come very often.
    Friday high is still far away,till then trend bias is still down.Plan accordingly.

  3. Good morning Anuj,

    Thanks for suggestion.

  4. Anuj, RM,

    If you could pl. let me know where i could find AFL code for amibroker for free download.

  5. @Prabakar

    Good Morning!
    I depend on google search for all my requirements. If you tell me your needs, I'll try to find out the appropriate AFL.

  6. Hi Prabakar,
    I dont use Amibroker, I was once interested in Metastock this link has a lot of formulas
    Should be easy to create your custom indicators using these perhaps...

    Be selective otherwise it's a sure shot recipe for frustration! ;)

  7. @rm,

    As you are aware, i was trying to get my AB Working and somehow managed for shortterm. :) i don't know how long!!?

    I am not much aware of AFL, so if you could suggest and provide the one's which you feel ok for Day trading like auto buy/sell signals.

  8. @Prabakar

    What I meant was that which EMA, crossovers etc. you prefer for your trade, the AFL can be written accordingly.

    Re auto buy and sell triggers, you can get plenty such AFLs at


  9. Thanks a lot Anuj and r m for the guidance.