NIFTY MADE INTRADAY LOW OF 7583 WHICH MATCHES WITH THE FIBBO EXTENSION I HAVE DRAWN FROM NIFTY BUDGET DAY LOW OF 6826 TO 7583 ON 14/03/2016.
ALSO SEE RED WHICH I HAVE DRAWN FROM 6826 TO 7405 WAS BROKEN YESTERDAY I.E.28/03/2016. TODAY ALSO NIFTY COULD NOT BOUNCE BACK ABOVE THIS .
OVERALL IMPORTANCE OF & PROPER CHANNELING CAN HELP OUR TRADING SETUP APART FROM WHATEVER WE ARE DOING.
DUE TO RESTRICTION OF DAY CHART I CAN NOT SHOW OTHER IMPORTANT & CHANNELS WHICH ARE VERY SIGNIFICANT.
PLEASE SEE MY WEBSITE FOR DETAILS OF THAT AT https://amgonifty.wordpress.com/
PLEASE SEE CHART SHARED ON https://amgonifty.wordpress.com/2016/03/30/eod-30032016-nifty/
Regarding NIfty I was expecting weakness but to a biggest surprise nifty showed lot of strength. The channel & trend line setup can not be shown on daily chart so please visit above site.
NIFTY SHOWN CORRECT CHANNEL & TREND LINE BASED MOVEMENT. TO SEE THE CHART VISIT https://amgonifty.wordpress.com/2016/03/31/eod-3132016-nifty/
Positional shorts which created in the 7777 region seems to be working. Now stop loss can be moved to around 7700 for positional shorts.
To see detail report visit https://amgonifty.wordpress.com/2016/04/05/nifty-eod-05042016/
Nifty opened gap up today to hit high of 7638. Then it consolidated within 40 points range with intraday low of 7591. So overall it was non directional consolidation. So after such consolidation direction movement will be clear once we get breakout on either side of the pattern. If we get upper side breakout & full retracement, then nifty will have retracement target of 7697 to 7727 which should hit our blue channel line from lower side.
If nifty breaks down then immediate down side target can be 7547, 7515 & 7485 as per fibbo levels
On the tradingview.com site I mate one intelligent trader who’s name is Alexandar Nikitin from Russia. He also has his own training program online. He is using Gartley patterns with his modified technique for forex trading mostly. By seeing his videos on u tube & as I was having a spare day I tried to trade Intraday which I mostly not prefer as I am not a full time trader. But the result was amazing. Total 13 trades placed ….Points earned 140 on 11 trades …..points lost 15 on 2 trades. As you are aware that today nifty consolidated within 40 points range but because of proper gartley identification I could collect 130 points profit trading both ways. See the following chart. ( Many Thanks to this fabulous trader Alexandar Nikitin.). His user name is Alexandar_Nikitin
SHORT SEEMS TO BE WORKING TILL NOW WHICH WE HAVE INITIATE AT THE TOP.
FOR DETAIL REPORT VISIT: https://amgonifty.wordpress.com/2016/04/07/nifty-eod-07042016/
Conclusion: Nifty is likely to continue its down move tomorrow & our call taken at higher levels to short nifty seems to be working till now.