NIFTY 50 future TRENDS

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Taurus1

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I did have 5171(+/- 10) as the high for today, but didn't have the patience to wait. :( My time-price forecasts also not as accurate as earlier. :mad:
Cycles of life impact everything. :D
 

MurAtt

Well-Known Member
I know I'm mostly early, :( but some of the same early entries have paid off very well in the past with gaps in my direction.
The most negative sentiment for this month is on the 10th/11th but markets are closed. :annoyed:
Why don't you post your technicals?:D
I'm off trading for almost 8 months now ... also my regular system is not with me .. maybe in 15-20 days from now I would be having that.
Also more time in regular biz + other committments have forced me to stay out - no use trading half heartedly with half info etc .. so staying out.

Just surfing the fora's and chit-chatting mostly ..... almost an Eagle :wink: without the vocabulary & agression ...
:D
 
Re: Reliance may get screwed by the Parliament



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LOL, I didn't know anything about that. Does ignorance count for anything?

The current chart is telling us some stories with a few variables. The closing price for the day was 5167, after peaking at the projected 5173. It did peak one 4-hour candle later than expected, which forced the candle into the cloud. This could be viewed as nothing more than a sideways swipe into the cloud which means it is ready to reverse from this point. Another thing that adds credence to this scenario is the fact the WR1 at 5098 was ripped out without the typical bounce of correction from it. A continuation ensued to the WR2 at 5161, which means we are in for a minimum correction back to the WR1 at 5098. If that happens, then there should also be enough thrust to break through the UP TL, and then of course, like the old saying says, "The rest would be history."

Now for the possible alternate view. This move could be on the lines of a fright train. This means we are headed to the top of the cloud, MR1 area at 5250. This will provide an even more explosive reversal.



pips must be having something to do with KG-D6 report tabled in the Parliament today.


So, we can safely conclude that pips is the "foreign hand" behind our present troubles :rofl: :rofl:
 

sanjosedesi

Well-Known Member
This comment is only partially to Paul since we have discussed funda vs technical before. Others may chime in as needed.

I have always wondered about the validity of technicals. But rather than being a fundamentals guy, I believe (or used to believe) that news (about the economy, real or unreal news) drives the markets. Having seen the markets in operation for about 9 months now, I marvel that almost all news events seem to happen near the major pivot points, such as the trendlines, or the bottom or top of clouds and so on. I wonder why !!

This is not a request to debate the validity of one approach vs the other. I have seen technicals work, and I have seen some of the fundamentals work, and .... yadda yadda yadda ... the question is have you thought of this co-relation between technicals and the news cycle of fear and greed, and if yes what are your learnings which you can share ...
 

Taurus1

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Taurus1

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I'm off trading for almost 8 months now ... also my regular system is not with me .. maybe in 15-20 days from now I would be having that.
Also more time in regular biz + other committments have forced me to stay out - no use trading half heartedly with half info etc .. so staying out.

Just surfing the fora's and chit-chatting mostly ..... almost an Eagle :wink: without the vocabulary & agression ...
:D
Hope you dumped your portfolio long ago.
Is Satda getting ready to flag off his superfast 420 Dn South pole Duranto ? :rofl:
He's one of the few guys I miss. :down:
Say Hi to Cube for me :)
 


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I think it is amazing when you view through the eyes of our personal biases, particularly in lieu of the recent posts by SJD and Taurus.

Taurus cited am FA as the means to show why Reliant is about to reverse direction. SJD's query was " I marvel that almost all news events seem to happen near the major pivot points, such as the trendlines, or the bottom or top of clouds and so on. I wonder why !!"

As a non FA, strict chart person, I don't have an answer to that. I marvel at how FA's supposedly (I say that loosely with tongue in cheek.) move the markets. Evidently, according to the news posted by Taurus, it is indicating that Reliant is going to reverse.

This is the point about my marvel. 3 weeks ago I was talking about the top of the 4-hour cloud at 819.30 to be possible containment, and the bottom of the daily cloud being absolute containment, which is exactly, as evidenced by the chart, where it is now.
In essence, this is the point to be ready for a very strong reversal. This was foretold 3 weeks ago, and then the news comes along 3 weeks later to confirm it at the exact point.

Get ready for this one! 783.80 is on the radar, and most likely lower.
 

Taurus1

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