Daily Tryst with Nifty

[Sunil]

Wow.....broke it...

BTW...how did you corelate 20 SMA and yesterdays TL low to come to this conclusion.......Can you please eloborate...

Thanks....

that eventually brokee sunil.....why did u feel it was fail TA.......

TL did not break - price needs to close above the TL & 20SMA to confirm break...

actually, it seems u r seeing something different - TL = Trendline

and TL failing to break is not Failed TA...

kuch gadbad hain - put on 5min chart

 

[Sunil]

+ve divergence all the way in 5min chart....

but still need to break the latest Pivot High (PH) in 5min, along with RSI 50 in 5min...

 

[taqtrader]

May be because market does exactely opposite of what we think. I think we should be giving up our thinking process before market.
Sometimes I think of not at all using TA on charts and think like a novice trader(neverthlesess I am not pro) and then take reverse position of what my mind is tellling me to take.....

we as a individual traders see what we want to see & ignore what is there on charts.its our fault not TA.

 

[Sunil]

20SMA + TL active since morning

 

[WOD]

Alright, now understood what you were trying to say....you were mentioning about break of 4260-4240 region....

May be I was too busy looking for something else.....great that I did not traded after initial loss of 17 points and having anticipated state of mind.....

 

[MurAtt]

@ Sunil ( sir )

Backtesting of Pride's method using AFL? or Manually?
In case of AFL can u share pls.

Thanks

 

[Sunil]

@ Sunil ( sir )

Backtesting of Pride's method using AFL? or Manually?
In case of AFL can u share pls.

Thanks

Man - u - ally

 

[WOD]

Can some one please provide me link to view hourly chart of nifty.....tried icharts,yahooo and couple of more but no use.........

Thanks.....

 

[praveen taneja]

Can some one please provide me link to view hourly chart of nifty.....tried icharts,yahooo and couple of more but no use.........

Thanks.....

Try investbull its free:thumb:

 

[Sunil]

20SMA + TL active since morning

will be observing the same TL and 20SMA in 5min chart...
Closed yesterday right at TL & 20SMA

For effective +ve divergence, break of the latest pivot high at 4327 is required, which coincidentally is also the Classical Pivot for today. (4330)
This 4330 is also 38% retracement of the fall from 4440 high of Monday.
4330 is also around 5DMA value...

If in the opening hour, this level is tested, it becomes a potential neckline!!!