BollingerBands

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Bollingerbands for Thursday, 26th April. The candle continues to remain in the lower half. 7EMA is red and is placed below 20SMA, which has turned red again and is definitely trending down. The bands have broadened slightly (Range : 5362-5148, Width : 214), though insignificantly.

India vix = 18.74

Today the range was very narrow - 36.55 points (High - 5215.60, Low = 5179.05). Also it was entirely in yesterday's range. So today becomes NR7 with inside bar setup.

 

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Bollingerbands for Friday, 27th April. The candle continues to remain in the lower half. 7EMA is red and is placed below 20SMA, which is also red and is definitely trending down. The bands are narrow and flat slightly (Range : 5362-5148, Width : 214).

India vix = 17.9

 

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Bollingerbands for Saturday, 28th April. The candle continues to remain in the lower half. 7EMA is red and is placed below 20SMA, which has turned green !!. The bands are narrow and flat slightly (Range : 5360-5153, Width : 207).

India vix = 17.61

The index is making a series of Inside Bar + Outside Bar pattern. Normally an inside bar followed by an outside bar would be called a "Popgun" pattern denoting continued bearishness. But in the present scenario, since the 20SMA has turned green and the vix continues to trend down, this may be a precursor to upside.

 

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Correction :

The chart posted earlier was of Nifty Futures; a mistake on my part. Thanks to Columbus for pointing it out. Posting the chart for Nifty Spot and the details for the same.
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Bollingerbands for Monday, 30th April. The candle is resting around 20SMA and has closed at just about it. 7EMA is now green and rising, 20SMA is red again and above 7EMA. This frequent change of color combined with narrow bands may indicate a change of trend. The bands are narrow and flat slightly (Range : 5356-5152, Width : 204).

India vix = 17.82

 

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Bollingerbands for Wednesday, 2nd May. Another sideways day. The candle is resting around 20SMA and has closed at just about it. 7EMA is now green and rising, 20SMA continues to be red and above 7EMA. This frequent change of color combined with narrow bands may indicate a change of trend. The bands are narrow and flat slightly (Range : 5348-5152, Width : 196). Narrow bands coupled with increasing volatility may preclude a downside, but these are sideways markets, the picture could change rapidly.

India vix = 18.54

 

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Bollingerbands for Thursday, 3rd May. The candle is firmly in the lower half below 20SMA and below 7EMA. Both the MAs are red and the vix is rising. The bands are narrow (Range : 5330-5154, Width : 176). Narrow bands coupled with increasing volatility may preclude a downside, but these are sideways markets, the picture could change rapidly because of global cues, and maybe the Friday Factor tomorrow.

India vix = 19.25

 

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Bollingerbands for Friday, 4th May. Lower BB pierced today, and both the MAs are red and trending down. 7EMA is below 20SMA and the is below both. The bands are narrow (Range : 5333-5126, Width : 207).

India vix = 21.12


Observation : In cases of a candle being below 7EMA, when the first such candle appears, it seems to me that the next one is almost certain to spend the whole session below 7EMA. Let's check this out in future.

 

[Rajeevji]

NiftyFut EOD With BB (Close 9,2 & SMA)

Happy & Safe Trading

SavantGarde

SG,

Kindly clarify what are black & red lines the the above pic? They appear to be 9SMA (which Bollinger suggests we use) and perhaps 9EMA. Or are they two different SMA's as mentioned in your post # 11 on 23rd Mar 2009 itself.

I am trying to read this thread end to end.

regards

Rajeev

 

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Sorry for the delay.


Bollingerbands for Monday, 7th May. Lower BB pierced today, again, and both the MAs are red and trending down. But a smart recovery was seen. 7EMA is below 20SMA and the candle is below both. 7EMA currently stands at 5167 which may act as a resistance in case of a continued upmove (India vix has reduced by about 4% today). The bands are narrow but have started widening (Range : 5339-5109, Width : 230).

India vix = 20.22

Yesterday's was a wide ranging day and unless we break yesterday's highs, we may have an inside bar today.

 

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Bollingerbands for Tuesday, 8th May. Lower BB pierced today, again, and both the MAs are red and trending down. The candle is below both the EMAs and is spending 3rd session below 7EMA. In the post-Diwali crash, the candle spent 9 continuous sessions below 7EMA. Anyway, today wasn't an inside bar, it was damned near an outside bar

India vix = 22.16