A quick post to share a story that happened less than 20 min ago.
I received feedback that a follower didn't want to buy the Algorithm Builder because he "tried it and it doesn't work on the Indian market"
11 minutes later (see screenshot below), using the exact same Strategy Builder along with the Backtest (that I'll introduce tomorrow), I made him...
MARKET ANALYSIS: As we can see from the chart, that the corrective phase of nifty has been completed now we can expect a downtrend continuation. we can expect the market to reach 9300 - 9400 around the month of march 2019. So lets wait and see what the market does in the coming weeks. Cheers!
Looks like we have formed near term bottom here. My sentimental RSI has turned green. So don't short nifty now , be long.
50 day moving average around 11500 can be big resistance. I wound but Aug 11000 call option and sell 11500 call option.
Going long has high probability on making money.
Happy Trading !!
Sharing Demand and Supply areas for nifty. These areas will work as support or resistances. Keep them marked on your chart.
Using My own indicator of volatility for trend guidance. Check the script it available in indicators. Will share the time analysis and few important updates in coming months.
Follow the price...
This shows the internals of the expanded flat, as detailed in one of the previous updates (link attached), that Nifty might be forming. This is a rather far-fetched view and the view is correct conditional on Nifty following each of the above arrow. At this stage, this seems to be the most likely future pattern.
The Nifty is challenging the multi-year parabolic curve support line. A close below 10,525 would indicate a much deeper correction could occur. The weekly chart exhibits a possible right angled broadening pattern. These patterns typically break out of the horizontal boundary. Should the parabolic curve give way the target for the Nifty would become 8250.
Every Pull back towards 11450 /11600 /11750 of current move is Best Sell for fresh round of selling towards 10200 and even 9250-9450 levels .
*** This is View and not trade and this is solely for Education purpose.
NIFTY50 closed this week up to 1.02% (according to teletrader.com)!
The move from the low @ 10782 to 11181 is so far a „three-up“, indicating a countertrend, for now, that is done or close to do so. It also retraced a bit more of the 0.382 Fibonacci of the decline from 11706 and met two waves „4“ level of lesser degree and expand shy above this...
As posted in the past couple of updates (links attached), Nifty reversed from the 161% FE after completing an Ending Diagonal pattern at the end of wave 3 (as shown in one of the links attached). Wave 4 target is atleast 11,246 and at most 11,356. This move could be slow and choppy and hence either one can long a future with SL of wave 3 low or just ignore this up...
Nifty 50 declined to 10782 today and recovered from that level. This level is may a wave (iii) within a not finished sell-off. Means lower prices after a countertrend move is to expect. Overall there are several ways to interpret the developments as of the past days and weeks, so the chart is open to interpretation.
As labeled below the chart, the...