NIFTY 50 future TRENDS

[sudoku1]

NF trend DOWN


tgt > 4666

 

[timepass]

I guess today's chart qualifies as bullish pinbar.. the bears tried to take it down but could not sustain.

The problem is that a) someone remarked here that the candlestick patterns have to be confirmed by the next candle, b) an earlier similar setup occured on 18th November, and the next day was heavily bearish

A simple explanation for today's bar would be like this (I have not gone through intraday chart. Comments are solely basing upon your posted chart)

1. Price has been falling and today price opened with a huge gap.

2. Price rallied heavily. But bulls could not sustain the upmove.

3. Price came back where it opened.

4. By the end of the day, it closed near the open.

5. Close was in the lower 1/3 of the day's bar.

6. Overall interpretation of today's bar would be that bulls have not received any support and bears seized this opportunity and by the end of the day bears pushed the price down.

7. BTW, pinbars indicate the possible move in the reverse direction where it is poking.

Hope this helps

 

[4xpipcounter]

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LTT, I'm glad you asked this question, because it falls in line with my next post, so I'll answer your question in lieu of it.

Look to the far right. I outlined what will be a 1-2-3 formation, and in this case, it is anticipated, because the 3 is not fully formed. Off to the left I highlighted the most recent 1-2-3 formation in the ovals as well as the personality of the 1-2-3 formation. The 2 gets broken, and almost invariably it retraces back to the point of the 2 then continues on.

This brings it up to date what is happening now. The blue TL was drawn of the daily. Current level is 5156. Any intraday move should be contained at that point. That level seems to make an excellent entry for the short. The 2 is 4655. Once that is broken and corrected, it would make for a nice additional entry to ride the next leg in to the 4500's.

4xpip - question for you, since you mention about this pattern often.

Do you see a 1-2-3 formation on the weekly charts of Nifty?

 

[manoharpillai]

The target of spot nifty R1 5156 is possible as long 5010 is held again the PP level of 4961 is very important to keep this up move intact

 

[darshanshukla]

Dear Sudoku,
The trend you are mentioning is short/intermediate/long
What is your stoploss if you are in short or expecting your target.

NF trend DOWN


tgt > 4666

 

[sudoku1]

Dear Sudoku,
The trend you are mentioning is short/intermediate/long
What is your stoploss if you are in short or expecting your target.

its a positional cal based on med to long term

 

[LivetoTrade]

Dear Sudoku,
The trend you are mentioning is short/intermediate/long
What is your stoploss if you are in short or expecting your target.

Darshan, if you read the previous 10 pages of this thread, you will see that we have had such a detailed talk on this issue

 

[4xpipcounter]

LTT, are you kidding!? Try the previous 469 pages.

Some of take the local, some take the jet, some take the scenic route. Sudoku takes the slow boat. Once he jumps in, he makes sure he doesn't get out for a long time.
Correct me if I'm wrong, but I think he has been short since 6100.

Darshan, if you read the previous 10 pages of this thread, you will see that we have had such a detailed talk on this issue

 

[LivetoTrade]

LTT, are you kidding!? Try the previous 469 pages.

Some of take the local, some take the jet, some take the scenic route. Sudoku takes the slow boat. Once he jumps in, he makes sure he doesn't get out for a long time.
Correct me if I'm wrong, but I think he has been short since 6100.

Well, I thought Darshan was asking about Sudoku's methodology again, about which we discussed in length recently

 

[4xpipcounter]

I just got a chuckle out of the post, because his first target was posted in post #1, his methodology was explained in the now infamous #5, and it just keeps rolling.

Well, I thought Darshan was asking about Sudoku's methodology again, about which we discussed in length recently