NIFTY 50 future TRENDS-Part 2

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prabhsingh

Well-Known Member
#831
#831
SevenStar,

Kindly one more time kindly can you tell what to enter into High,LOW of Fib Calculator.Is it high and low values of previous day to determine Fib levels for next day?
 
D

doctorshah

Well-Known Member
#832
#832
Dear Prabhsingh
If gap Up/Down less then 20pts
Low=Close prev day
High= Close+23
If Gap Up/Down more then 20pts
Low=Open same day
High= open+23
SS Sir/ Raghuveerji correct me if I am wrong
 
Raghuveer

Raghuveer

Well-Known Member
#833
#833
prabhsingh said:
SevenStar,

Kindly one more time kindly can you tell what to enter into High,LOW of Fib Calculator.Is it high and low values of previous day to determine Fib levels for next day?
Click to expand...
Raghuveer said:
As per SevenStar
If there no gap of 20 or more today:
Low in Fib calc=close of prev day.
High in Fib calc=close of prev day+23.

If todays gap (up or down) is more than 20:
Low in Fib calc=open of today.
High in Fib calc=open of today+23.
Click to expand...
Use data from NSE website (http://nseindia.com/live_market/dyn...ument=FUTIDX&type=-&strike=-&expiry=28MAR2013) for March NF and calculate for any of the previous days and compare with posted values for that date to confirm.

March 26 close=5640.35
Round decimals up/down.
so close=5640.

close = low in fib calculator = 5640
high in fib calculator = close + 23 = 5640 + 23 = 5663

March NF Fib levels for Thu:
Res: 5649 5663 5681 5700
Sup: 5631 5617 5599 5580

April NF fib levels for Thu (Tue close= 5676):
Res: 5685 5699 5717 5736
Sup: 5667 5653 5635 5616

On Thu if there is a gap of more than 20 use Thu open instead of Tue close and recalculate.
 
S

SEVEN STAR

Well-Known Member
#840
#840
ABOVE WAS MY VIEW POSTED YESTERDAY...POSTING BUSINESS LINE OUT LOOK ON NIFTY..WHICH IS PUBLISHED TODAY..
ALMOST SAME AS I PREDICTED..

Nifty (5,682.5)

The Nifty closed the week with 40 points gain. As discussed earlier, the target of the third wave down from the 6,112 peak are 5,693, 5,522 and 5,350.

We stay with the view that further deterioration will pull the index towards the next target zone between 5,500 and 5,550.

For the near-term, we are not yet certain if the third leg of the move from the 6,112-peak is complete or not. Traders can continue to play short till the index trades below 5,750.

That can also serve as the stop-loss for short positions. Reversal below this level can drag the index lower to 5,519 or 5,383.

Conversely, move above 5,750 will mean that the Nifty is moving towards 5,790 or 5,832.

Our medium-term view stays positive as long as the index trades above 5,600. Supports on breach of this level are 5,440 and 5,282.
 
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