New Intermed Uptrend!!

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Saint

Saint

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#4,201
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jamit_05 said:
Such approvals from you make the efforts worth the while. :)

Amit.

PS: Satya, should we press him for the gifts.... or may be next time :)
Anyway, Welcome back Doc, hope the vacation was the one to die for :)
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not really vacation......just had to get a few things done back home.:)

Saint
 
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lvgandhi

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#4,204
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jamit_05 said:
Yes, I agree with the first part: weekly is in downtrend. However, daily is in an uptrend (since the break of 4971) !

Amit.
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I have a doubt here.
Nifty had a lower pivot high on week ending 28/3/8 with 4971. This lower pivot high has been broken on week ending 18/4/8. If the lowest pivot high is broken then I think we are in uptrend. Am I wrong here?
 
jamit_05

jamit_05

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#4,206
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lvgandhi said:
I have a doubt here.
Nifty had a lower pivot high on week ending 28/3/8 with 4971. This lower pivot high has been broken on week ending 18/4/8. If the lowest pivot high is broken then I think we are in uptrend. Am I wrong here?
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Correct. on 21/4 NSE closed at 5037, putting Daily into an uptrend.
 
Saint

Saint

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#4,207
lvgandhi said:
I have a doubt here.
Nifty had a lower pivot high on week ending 28/3/8 with 4971. This lower pivot high has been broken on week ending 18/4/8. If the lowest pivot high is broken then I think we are in uptrend. Am I wrong here?
Click to expand...
Right-on,LVG...........We have that pivot high break and we are long.....Whether this uptrend will fade out and collapse into another downtrend is another question.But as traders trading trends,we go long on a previous pivot high break and we stick to our plans.

Personally,if we close here-abouts this week or the next,and then go on to make new highs ,then would be sitting with positions longer........We then have a previous pivot high break to newer highs,followed by a mild gradient pullback to higher pivot lows,and then a breakout to new highs.

All the best!
Saint
 
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