NIFTY 50 future TRENDS

[MurAtt]

N F trend DOWN


tgt> 4999

Bahut kuch ulta dikh raha hain
kya baat hui ?
sudoku: are you ok

If you inverse 4999 then you get ---> 6664

 

[IAtma]

ulta hone main kitni der lagtee hai ?

target may test the pasence but finally will shooted.

Bahut kuch ulta dikh raha hain

N F trend DOWN


tgt> 4999

 

[IAtma]

hmm.........

at TJ bull no 2.:lol::lol:

If you inverse 4999 then you get ---> 6664

 

[4xpipcounter]

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First, the easy part, as I will reword what I said.
4000? Personally, I can't see that far. I've got 4666 (Again, that is coincidence to Sudoku's pick.) and even 4592 on the longer term downside radar. There is a good possibility (Not on my radar, though.) of the monthly TL being hit at 4193.

I posted the weekly chart to show that for the last 5 weeks the market has gone north, and as per my comment from about 4 weeks ago I said that we could look for some consolidative activity, and that this would only be a correction.

My shorter term view is the top of the 4-hour cloud that was at 5209 would contain, we get a leg south. Even though we got a bear candle for Wednesday, it was not as strong as anticipated. The 4-hour candle is still contained within the cloud. The MR1 at 5240 is still likely of being hit. The 4-hour cloud is fast dipping, and with the lack of velocity on Wednesday's move, it is now indicating, that even though on Thursday we could get another bear candle on the daily, this move is still headed to higher ground. Bottom line is until further notice (Don't forget, I'm just one of the chimps--lol.) is that absolute containment before the next leg on the move south begins is 5301.

Here's the synopsis in order to try and make clarity of this:
1. Absolute containment for the correction before returning to the downtrend is 5301. That overrides any shorter term implications.
2. Also, look for a convincing break of 4992 to indicate we returned to he DOWN.
3. Once the return to the DOWN has been confirmed, then we are headed to 4666 and most likely 4592
4. IMO, and at least for now, anything below 4592 is conjecture.

The 4 points above should summarize and give clarity.
It should also be noted we have different TF's doing different things which is the nature of things in a consolidative, or even corrective markets. The monthly is still looking for at least one more mighty thrust south. It is the weekly and daily that have different ideas. The market is waiting on those 2 TF's to catch up, then they agree, and then the fun begins again.
While we wait for the bigger picture to evolve the smaller TF's also have their thing going on which adds to the fun. We got the bear candle on the daily because of implications on the hourly.
In terms of a metaphor, picture the TF's as a bunch of kids wanting to get their way and no one is willing to compromise. You get chaos. Thus, is the reason markets do not move in a straight line.

There is also tremendous power in agreement. Let's draw up what could be a very probably scenario.
1. Monthly is still pushing south.
2. By the time we get to 5301, the daily is going to say, "This is it! I've had it! I'm going south!"
3. The weekly, by then will be in limbo, so it won't care.
4. The hourly and 4-hour will still probably want to have its fun, and so we get a move to 4310 (just an example). By then, everyone is agreeing, and that's when the bomb gets dropped. It is that time that in forums like this one that everyone is pointing to some news event, or talking about how they don't understand how Nifty lost 150 points in one day or 250 in one week, or whatever.

Key point: When TF's agree, you get the strong and predictable moves, such as the 840-point 3 1/2- week drop we had recently. When they are all mixed is when you get the lackluster moves such as what has been going on lately.

As a side note, I'll add this is when things get fun in forums like this one. Like everyone else, I've been enjoying Taurus and his comic strips. Then of course, there is plenty of room for Eagle to swoop in with his commentary.
Gotta love it!

As confusing as ever. Its not you, reading charts is somewhat close to rocket science.

At this time, what odds are there of the market going under 4000?

 

[4xpipcounter]

The 4 would be upside down.

If you inverse 4999 then you get ---> 6664

 

[EagleOne]

Hey, Pips. I have just the time to reply to your above post detailing TFs' clashes:

Lots of times when I read your forecasts, I wondered how many readers would be able to read between the lines. Things that you took for granted as self-evident while writing those forecasts, believe me, must have been real confusing for many a uninitiated. Sanjosedesi was just being the vocal one.
Now, after this post, a sense of understanding should prevail, I hope. And also, if chart reading is like 'Rocket Science', well, one should knuckle down and be a 'Rocket scientist'.
Because trading is no less 'Rocket business'.

Take care

 

[sanjosedesi]

The 4 would be upside down.

It is like one of those movie scenes where a metal 6 is is loosely hanging at the door by a equally loose nail. One door slam and the thing turns upside down making the actor to enter this door rather than looking for the real one.

 

[4xpipcounter]

That's one thing I like about SJD. He is not afraid to speak up. I don't want to post if all it leads is "????????" in everyone's head. OTOH, from the reader's point of view, forecasting leads to needing to read between the lines.

LOL, I thought this was kind of funny. Someone could think, "This chimp has a split personality. He's at 5209, 5240, 5301, all the while saying we are going to have a blowout move south. Then he is at 4992, 4840, 4666, 4592. He's bound to get one of them right."

Okay, but then this is a corrective market, so the road map is necessary. LOL, the object is to get all of them right.

Rocket Science? I don't know about that. I only have a 12th grade education. I call it love and passion. I call it not being so smart that you miss the simplicity, but being smart enough to see the simplicity.

Hey, Pips. I have just the time to reply to your above post detailing TFs' clashes:

Lots of times when I read your forecasts, I wondered how many readers would be able to read between the lines. Things that you took for granted as self-evident while writing those forecasts, believe me, must have been real confusing for many a uninitiated. Sanjosedesi was just being the vocal one.
Now, after this post, a sense of understanding should prevail, I hope. And also, if chart reading is like 'Rocket Science', well, one should knuckle down and be a 'Rocket scientist'.
Because trading is no less 'Rocket business'.

Take care

 

[4xpipcounter]

While I was reading that, I was thinking of the cartoon, where a bucket of ice water is put over the ledge of the door. It is designed to drench the one the purpotrator dislikes. Instead, his best friends walks in and gets soaked.

It is like one of those movie scenes where a metal 6 is is loosely hanging at the door by a equally loose nail. One door slam and the thing turns upside down making the actor to enter this door rather than looking for the real one.

 

[sanjosedesi]

Just to be clear. The only rockets I have seen are the ones on TV. May be Eagle will now create a picture of rocket going from 4667 to 6350.