Daily Tryst with Nifty

[WOD]

I would expect a good enough reason for going long on a correction, preferably one that fits well into your trading strategy.
Got any? :annoyed:

On 60 min chart a channel has been formed......height of channel is 200 points ...and thats the target of 4781 !!! (Attaching the chart)

On daily I-Hns has formed head at 4000 and NL at 4400, and thats the target of 4800!!!

So I am seeing target for nifty around 4800 in short term..

Support that we should see before market rise:

Market fell to 4382 on thursday and have touched to 4581 on friday....now fibonacci retracement of this move on 60 min chart is like this (good support levels to watch):

38.2% - 4500
50% - 4478
61.8 % - 4453

Following are Cam pivot supports for monday (I am expecting S4 to hit):

S1 4562
S2 4555
S3 4549
S4 4528

So support for nifty that I would watching on monday would 4530 and 4500....would initiate long arond these levels....

offcourse my calc and Market could prove me wrong....but downfall upto 4500 is evident before touching to 4800...

 

[humble]

In the very near future, i would want this ascending triangle to fructify .

Mini NF with 60 mins TF .

Hopefully atleast one pattern, Flag, Inverted HnS or the Ascending Triangle is fullfilled.

Regards,
-Sri

 

[WOD]

one quick question......on jcharts three values for stoch are being displayed.....can someone please explain what first, second and third value (left to right) correspond to (%d,%k or ma)..

thanks...

 

[humble]

one quick question......on jcharts three values for stoch are being displayed.....can someone please explain what first, second and third value (left to right) correspond to (%d,%k or ma)..

thanks...

If you are referring to InvestBulls, jCharts then it should be "8,3,4 [Period,%D,%K]".

Regards,
-Sri

 

[WOD]

Yesterday I went to bandra(Mumbai)..after 4 months I went to Mumbai......

All the way travelling to mumbai, I was seeing these posters of new fund offers and IPO's....one moment I had a thought in mind; if we are moving towards 6000 or more? (I read in one post by traderji that these are sings of a bull market)......MOST probably....

 

[WOD]

After all the inputs and working around few system introduced in TJ, I have decided to backtest following setup. Please give your suggestions; after that I will define entry and exits rule for this system (which I will post later).....

Setup:

So system is a dual TF (15 min and 60 min)...

5,13 EMA on 15 min to identify trend and for entry and exit

8,3,4 stochs on 15 min to confirm the trend and to find trend reversal by applying concept of divergence trading.....

3,8,13 SMA on 60 min chart to verify the trend on higher TF (no other indicators will be used on this TF)...

 

[columbus]

I am unable to use MOZILLA for last 24 hrs with the
following message .Anybody using it ?????

 

[lazytrader]

On 60 min chart a channel has been formed......height of channel is 200 points ...and thats the target of 4781 !!! (Attaching the chart)

On daily I-Hns has formed head at 4000 and NL at 4400, and thats the target of 4800!!!

So I am seeing target for nifty around 4800 in short term..

Support that we should see before market rise:

Market fell to 4382 on thursday and have touched to 4581 on friday....now fibonacci retracement of this move on 60 min chart is like this (good support levels to watch):

38.2% - 4500
50% - 4478
61.8 % - 4453

Following are Cam pivot supports for monday (I am expecting S4 to hit):

S1 4562
S2 4555
S3 4549
S4 4528

So support for nifty that I would watching on monday would 4530 and 4500....would initiate long arond these levels....

offcourse my calc and Market could prove me wrong....but downfall upto 4500 is evident before touching to 4800...

Don't try to catch a falling knife!

BTW, height of the channel is 100pts.

 

[lazytrader]

I am unable to use MOZILLA for last 24 hrs with the
following message .Anybody using it ?????

Check you RAM usage. Are all other programs working fine?
Empty the temp files folder (Mozilla temp files)
Create a new profile as mentioned in here. I have to leave now. Will be back in 30-45mins will let you know how to transfer your settings if the new profile works.
http://support.mozilla.com/en-US/kb/Managing+Profiles#Starting_the_Profile_Manager

All the best!

 

[WOD]

Don't try to catch a falling knife!

BTW, height of the channel is 100pts.

LT, Height of channel is 200. low for the channel is around 4380 and high is around 4580....please let me know if I am going wrong...