Daily Tryst with Nifty

[WOD]

SM, I think 4060 is coming and then could see this up-down motor..

Up-down motor started......4070-4085....

 

[MurAtt]

Keep an eye out for I-HnS on NSpot 5min. Right should formation going on ..
If crosses 4100 then -- 30 pts upside ...

 

[WOD]

Keep an eye out for I-HnS on NSpot 5min. Right should formation going on ..
If crosses 4100 then -- 30 pts upside ...

That I-Hns is negated now......lot of patterns getting negated today. :annoyed:..

 

[WOD]

That I-Hns is negated now......lot of patterns getting negated today. :annoyed:..

Looks to me like this is going to be another NR7 day...

 

[MurAtt]

Sunil ( sir ) favourite pattern -- rectangle .... b/o 4100, b/d 4080

 

[WOD]

Sunil ( sir ) favourite pattern -- rectangle .... b/o 4100, b/d 4080

SM, I am always confused between a rectangle pattern and Flag pattern....to me both appears to be same.....Do you know a way to distinguish between two?

I can think of one that, a flag pattern forms after a large move where as there is no precondition of size of movement of trade prior to formation of a rectangle...

 

[MurAtt]

A flag can be downward sloping, upward sloping after huge (ranging from 1-4 bars or more) of upmove whereas Rectangle is plain and simple sideways rectangle ...

 

[WOD]

A flag can be downward sloping, upward sloping after huge (ranging from 1-4 bars or more) of upmove whereas Rectangle is plain and simple sideways rectangle ...

Thanks...so that means there should not be a sloping angle formed between two TL's forming a rectangle.......just two parralel trendlines...

 

[WOD]

So now looks like even rectangle getting negated.....

 

[MurAtt]

See the BARS --- max bars u can see on the chart are RED AND the WRBs too are mostly the RED ones --- so trend can somewhat be termed as Bearish for today