No No, u misunderstood me. OK, 4197 may touch tomorrow, but from hourly DT lines there are 6-7 hours to cross the first DT, and then .... (I have not counted yet) bars to cross second DT. I could not post the chart due to imageshack problem. Now there is a possibility, nifty goes up for some hours and then come back again to touch 4197 for double bottom and again for tripple bottom. As we have noticed that the fut closed at premium (not discount), there is no panic selling. If there is no panic sell, nifty may not start move upward. As explained, hourly chart also says that.
That is the reason, why I am asking u this question. I think I am now clear to u.
Da, that's what I have mentioned...
just look at recent good lows from where good 100/200 pts rally had begun... all were nearly "V" shaped like 3800, 4160, 4250 and i hope 4200 (today)... there was panic selling today, but it did not last much coz we had already fell 200 pts from 4400 in one direction - just look at RSI. And we had already discussed about this 4220-4200 strong support zone. Infact, if you get 4200 at open, enter long - one small chowkidaar is at 4170-80 range.
(but now SGX nifty is already at 4280)
Expiry days are always mirage; that's why i kept an eye on both Aug & sept futs' discount/premium...
Before the fall started, AUG was in premium, Sept was in 10/15 discount...when fall worsened, both were in BIG discount...
AT/NEAR 4200, SEPT FUT's DISCOUNT KEPT REDUCING...that's when I entered long. At end, it was at premium.
Let's see what tomorrow has for us...a clap or a slap for the movie
PS: Glad to know that even you have experienced abt deficiencies in SPOT levels, as discussed in part 1