Incisive Nifty Trend Analysis

[saddaum]

trade cautiously any thing could happen at any time...........

 

[Mattie492]

Krishna, it would be time consuming and difficult for me to explain this. I will try to some other time.

 

[josh1]

Another rising wedge on 15min chart. Theoretically, it should break down tomorrow. If market opens above it, it will act as support.

 

[megapixel]

Another rising wedge on 15min chart. Theoretically, it should break down tomorrow. If market opens above it, it will act as support.

yup ...your analysis is quite strong ....by the way is there any reason why you choose 15 min chart than other timeframe ?

I am asking this because if you notice charts from other timeframe like 5 minutes or 30 minute and even 1 hour chart ...then analysis stands different .

 

[SEVEN STAR]

Folks is it going to be party time for bulls 5720 is the hurdle to jump..do we see gap up tomorrow..Nifty to trade in a range of 5650 to 5850 nothing much to expect out of index it could be very sluggish move through Oct.

Just watch nifty how it takes from here on..SL..5630

 

[josh1]

Another rising wedge on 15min chart. Theoretically, it should break down tomorrow. If market opens above it, it will act as support.

yup ...your analysis is quite strong ....by the way is there any reason why you choose 15 min chart than other timeframe ?

I am asking this because if you notice charts from other timeframe like 5 minutes or 30 minute and even 1 hour chart ...then analysis stands different .

MP,

I use 5,15,60 min charts. The wedge is showing in 5 and 15. You are right, 60 min shows a different story. However, Rising Wedge does not mean all the way down to 5630. Rising wedge broken downside implies a fall up to the start of wedge. In this case it is 5689. There is also a support at 5670 so we will have to wait and watch in that area.

If Nifty goes above the wedge, then I misinterpreted a flag for wedge. Flag flies half mast. That means we will have a sharp rally equal to the mast i.e approx. 50 points from whatever point it breaks upside.

 

[trade4putuval]

...
Besides 5640 in spot has been a very tough support. This is the second time, it fell below 5640, but managed to close above it. Looks like traders are not yet ready to quit. The way global markets are moving, I doubt if we will touch the recent top again to form a double top before it starts falling.

I follow the following:
315: 3ema still closed above 15 ema, indicating minor bullishness
Ichimoku: Tenken sen at 5726, so price will touch this value before there is any decision to be taken.
RSI: Has moved below 50. Global markets indicates oversold zone will not approach anytime soon. So there will be a turn around.

Disclaimer: I may be wrong, so please do your own analysis as well!

Well, tenken sen has almost touched now. Now tenken sen looks flat, which means it has to go and meet kijun before resuming its uptrend. Kijun stands at 5573. Alternatively, if 5730 is taken out, then we stop out and wait for next signal! Fingers crossed!

Sorry, this is not an ichimoku thread. Just thought to provide the feedback on the post sent earlier!

 

[Bewinner]

trade4putuval.
There is no need to sorry. I think every view/constructive discussion is welcome in this thread. U should put ur analysis here. I think Mr. Prada will not mind.

 

[timepass]

Well, tenken sen has almost touched now. Now tenken sen looks flat, which means it has to go and meet kijun before resuming its uptrend. Kijun stands at 5573. Alternatively, if 5730 is taken out, then we stop out and wait for next signal! Fingers crossed!

Sorry, this is not an ichimoku thread. Just thought to provide the feedback on the post sent earlier!

Thanks, t4p. Here is the thread on Ichimoku. Wish there is more participation in there.

http://www.traderji.com/technical-analysis/67576-analysis-based-ichimoku.html

 

[SEVEN STAR]

consolidation 5640-5750 weekly break out at 5754.. watch this level for today's close to set your target on 5900+
beak down at 5640 will surely drag it to 5500 levels