Merrily trapping the Bulls and Bears with volatality. On the positive side it gives good trading opportunities for day traders. Nifty travelling side ways with 10930 as top band and 10450 and Bottom band. Any move with volume needed beyond these lines to get a good direction of the market. Until such time enjoy the quick trades and if not convincing stay...
Are we going to see a Head and Shoulder as marked in the chart? A probable path during the days to come.
Looks like DJI is making a MIRROR IMAGE as marked in chart. A probable path of DJI is indicated. Considering the MACD histogram opened below 0, this possibility becomes more probable. A negation of this probability is DJI try and stay inside the channel line soon with volume.
By nex Monday- Tuesday DJ should start its upmove to new All Time High.
1st close below 5 SMA done. today 2nd Close below 5 SMA confirms the fall to D. and move up inside the channel line.
As indicated the 2nd shoulder is in progress after making a high above the first shoulder height. Very soon this can start falling towards neckline. Watch out for 2 days close below 5 EMA in daily chart for confirmation of reversal of trend.
Moving Average 5 is applied in Daily Chart. Whenever we get 2 closes above 5 MA the market goes up . Same way 2 closes below the 5 MA the market corrects/falls. The rise and fall target depends on the resistance and fall at that time. The best minimum target would be preferably the BBs (in daily chart) and 200 EMA. in 5 Min and Daily chart. Marking given to...
As mentioned in the earlier post with comments. the price entered inside the pattern (coloured area) just like the first wing and started falling. It can fall till it gets out of the pattern once more (most probably) and give a mild side ways move with upward limited bias and start falling towards the bottom channel. The dates mentioned in the first post now...
Marked in NS Daily chart, long term travel path with the pattern now it is making.
The chart a probable H&S pattern and MACD supports it. We can see in next 2 days it should go up above the 1st shoulder and start falling towards neckline. This is a view of probability for educational purpose of chart reading and traders check with their own systems and this view cannot be attributed to any trades.
We are entering into a butterfly pattern zone. Tried to mark it but not to the accurate measurements.
To day nifty made a stellar move. The importance of day's candle is it is having a very small tail at bottom and at the top. This qualifies for the first soldier. The soldiers are two types: 1. The second and third soldiers opens with gap up leaving a very small tail or no tail at all at the bottom. Second solider closes near day's high leaving very small...
Last message with chart was how the BB and price candle behaves in weekly chart, well in advance, of this correction started from 11172 levels. Now when we look at the monthly chart (attached) it seems the correction is over and a low is formed. This view can change if any of the following conditions happens. 1) There must be a monthly close below 9 ema. 2) The...
WEEKLY UPDATE NS cmp 8349.35 RECAP... As mentioned last week the first four days NS remained within the range of 8380 and 8480, a few times touching 8380 but failed to touch 8480. It got resisted at the 100 EMA (in Ami Chart) and had to retreat. YAHOO Chart link. in.finance.yahoo.com EMAs : Last week though we got a Golden Cross the angle was not convincing as...