Incisive Nifty Trend Analysis

[vinst]

Nifty Heading towards 6093, as such trend is up.

5654 will act as good support.

Let nifty decide the trend.

Nirahjan

Nirahjan,
what are the rsi45 signals on your chart?

 

[naveen_t_s]

Dear Prada, is the FOMC minutes going to stir up the market like it did last time. Also what about the interest rate results.

Sent from my SGH-I777 using Tapatalk 2

 

[Rish]

Nirahjan,
what are the rsi45 signals on your chart?

RSI based calculation on weekly trend, that use to appear after 3 or 4 candles, just for visible identification, i am using RSI.

As per level 5807 stays above, then next level.

 

[prada]

Spot 5807 crucial. Adding some more short positions. Placing stop at 5850( spot ). Going against the momentum can backfire but I stick to my conviction.

 

[Arsh]

Sensex above 19,000 on reform hopes

 

[josh1]

Spot 5807 crucial. Adding some more short positions. Placing stop at 5850( spot ). Going against the momentum can backfire but I stick to my conviction.

I shall rather wait for confirmation of reversal so that I know where to keep my stop.

 

[The Monk.]

I shall rather wait for confirmation of reversal so that I know where to keep my stop.

I agree with u r view, holding contrarian view on markets are fine, but a trader should wait for the market to prove him right by making the first initial move, before taking a position, rather than try to pick the top.

 

[Reggie]

I am in agreement with you that one cannot predict the top. However taking a contrary positions includes asking questions on probability and risk reward ratio for long/short entry.

Two traders may see the same chart and take opposite positions. The rational for the trade is based on psychological factors, experience, time frame (intraday/swing/positional) besides the techical interpretation of the chart.

At times, I have seen the best R/R ratio (especially for intraday) trade is in contrary positions.

I am holding long positions presently, but do respect someone who understanding the momentum and technical setup, can take a contra position.

I agree with u r view, holding contrarian view on markets are fine, but a trader should wait for the market to prove him right by making the first initial move, before taking a position, rather than try to pick the top.

 

[SEVEN STAR]

The rally from 5220..takes small breather at every 200/300 points and not corrected as many of us are expecting it to do..this rally will continue till the destination of 6300+ is achieved.... bit of 70/100 max dip at every high made..next stop at 5970 sup. at 5680............. SHORT TRADERS LIKELY TO BURN UP THEIR A/C.... ..
Will be back with my next post ..at 5970 before this expiry.

 

[saddaum]

me too waiting for 6300.................