NIFTY 50 future TRENDS

[4xpipcounter]

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LTT, I drew this chart, as I'm sure it will help in understanding why the daily tenken is 4941.
My settings are the default--9,26,52. This is the tenken's formula: (H+L)/2; last n periods. In this case n=9.
All you do is count 9 candles back, look for the high and low, then split it in half. I drew the Fibo line to show the peak of the last 9 candles, the dip, and the midway point, which matches perfectly with the tenken.
If the dip from Nov. 30 at 4753 holds, the tenken will still be at 4941. If the dip is broken, then the tenken heads lower.

The kijun pertains to the 26 with the identical formula.

Nifty generally used to bounce periodically to reach upto the Tenkan/ MA.
But that did not happen today. We stayed well below.

What is surprising is that the 4-hour Tenkan still is at 4944, MA is at 4970.
On the Daily too the Tenkan is 4941.

 

[4xpipcounter]

Coolman, it means there will always be at least a bounce off my S&R's. I drew my Fibos on the chart to show what I am talking about. The minimum requirement for it to be considered a correction within the cycle of the trend is 38.2%. Sometimes i does not make it, and so it becomes a continuation to the next reference point which would be ( in this case) the WS2. Invariably, there is a bounce to at least the 21.6% (The square root of .618 then subtracted from 1.) level, which was the case of yesterday's movement. Now that the market is 50% of the way from WS1 to WS2, it should nake it the rest of the way, then retreat back to the WS1. From there, and within the strict context of my S&R's, it becomes a decision point

As always, there are exceptions to every rule, and that is why I use a confluence to determine entry for trades or any type of analysis

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Thanks for the explanation sir, In broad terms it means the market can go either up or down. Sometimes it can go both ways also.

 

[4xpipcounter]

I'm just a junior, though. I'm only 55.

coolmaan1, first the trend has to be set - uptrend or downtrend.

Now, as per the seniors here, Nifty is in downtrend. Within the downtrend there will be a pullback for certain percentage.

Price does not move linear.

 

[LivetoTrade]

I'm just a junior, though. I'm only 55.

:lol:

Sgx Nifty has made a low of 4701.5 a little while ago.

 

[manoharpillai]

Dow is defending it's 200 DMA at 11944 as long this holds world market shall remain stable But nifty in comparison with world market is under performing ..just any small shake up in world market will hit our market very badly..

2nd time lucky Dow held its support at 11944 ...watch this level at any day close below this level ...one expect minimum correction of 5% i.e. 600 points..... i don't know what that may translate to our market...

 

[manoharpillai]

:lol:

Sgx Nifty has made a low of 4701.5 a little while ago.

below are the support levels ......watch 4810 for any up move
midpoint 4759.50
S1 4709.33
midpoint 4682.00
S2 4654.67

 

[sudoku1]

Costs to protect the bonds of Indian banks against default are rising at the fastest pace among Asian lenders as a worsening cash crunch threatens profits. Five-year credit-default swaps on ICICI Bank Ltd. jumped 76 basis points in the past month to 471 basis points, the biggest advance

 

[sudoku1]

There is a random distribution between wins and losses for any given set of variables that defines an edge. In other words, based on the past performance of your edge, you may know that out of the next 20 trades, 12 will be winners and 8 will be losers. What you dont know is the sequence of wins and losses or how much money the market is going to make available on the winning trades. This truth makes trading a probability or numbers game. When you reallybelieve that trading is simply a probability game, concepts like right and wrong or win and lose no longer have the same significance. As a result, your expectations will be in harmony with the possibilities. Mark Douglas

 

[LivetoTrade]

LTT, I drew this chart, as I'm sure it will help in understanding why the daily tenken is 4941.
My settings are the default--9,26,52. This is the tenken's formula: (H+L)/2; last n periods. In this case n=9.
All you do is count 9 candles back, look for the high and low, then split it in half. I drew the Fibo line to show the peak of the last 9 candles, the dip, and the midway point, which matches perfectly with the tenken.
If the dip from Nov. 30 at 4753 holds, the tenken will still be at 4941. If the dip is broken, then the tenken heads lower.

The kijun pertains to the 26 with the identical formula.

Whenever price moves upwards or downwards, there generally is a candle which reaches upto the MA or the Tenkan, and then continues in its direction.

In this downfall, maybe because it was too quick, there was no candle reaching upto the Tenkan/ MA.

 

[LivetoTrade]

2nd time lucky Dow held its support at 11944 ...watch this level at any day close below this level ...one expect minimum correction of 5% i.e. 600 points..... i don't know what that may translate to our market...

Dow had a gravestone doji on the Daily chart yesterday, and fell from the next candle.