NIFTY 50 future TRENDS

[sanjosedesi]

Bullhunter, I'd like to figure out a better way to say, "Welcome to Traderji." But here goes.

I will admit to being a bit handicapped in analyzing these markets, as the only charting system I have for them is Chart Nexus.

Paul did not realize you got loaded with chart nexus, yes I saw some discussion a out it, but since it did not interest me, did not even check it was you. It may not be MT4, but now you are not at the mercy of any demo accounts. You might be missing hourly data though. But that triggers me to send you some tough ones

Must add ... appreciate the effort you are making to help people out here.

 

[4xpipcounter]

SJD, thank-you. I really enjoy this. I don't know of many people that get to take their hobby and make a living out of it.

Paul did not realize you got loaded with chart nexus, yes I saw some discussion a out it, but since it did not interest me, did not even check it was you. It may not be MT4, but now you are not at the mercy of any demo accounts. You might be missing hourly data though. But that triggers me to send you some tough ones

Must add ... appreciate the effort you are making to help people out here.

 

[sudoku1]

http://m.economictimes.com/PDAET/articleshow/12063529.cms

 

[sudoku1]

NF trend DOWN


tgt > 5252

 

[4xpipcounter]

As you can see by the chart, the corrective part of the journey is almost finished. The market is 8 points away from the point of the TL break. There would still be room for an additional north, but would still be contained under the TL. Afterward the journey south continues to a new low within the corrective trend.

adult image hosting

 

[reachjesal]

Thanks for the review Paul. Just 8 points away? but i thought you mentioned we would atleast travel to 5480 levels before moving further down? has the 4 hour TL moved up? at what level? thanks

i see two green candles after the black candle (which is strange) coz we have had only 1 green trading day after the drop (is it b'coz of the 4 hour?) thanks

As you can see by the chart, the corrective part of the journey is almost finished. The market is 8 points away from the point of the TL break. There would still be room for an additional north, but would still be contained under the TL. Afterward the journey south continues to a new low within the corrective trend.

adult image hosting

 

[sanjosedesi]

As you can see by the chart, the corrective part of the journey is almost finished. The market is 8 points away from the point of the TL break. There would still be room for an additional north, but would still be contained under the TL. Afterward the journey south continues to a new low within the corrective trend.

adult image hosting

New low within the corrective trend ... But it would not be too low right? The cloud will come I'm the way, it is bullish and not fresh, so the correction will be contained by the top of the cloud. Is that right?

 

[4xpipcounter]

Hi Jesal. Yes, there are 2 4-hour candles in one Indian trading day, because the day is only 6 1/2 hours long.

After the point of the TL break has been hit, then some of it is conjecture how far it will go from there. The main thing to remember is the TL contains.

BTW, those trades you see up are not on a live account of mine, as I do not trade this market. I analyze it so much, I might as well make some demo dollars on it.

Thanks for the review Paul. Just 8 points away? but i thought you mentioned we would atleast travel to 5480 levels before moving further down? has the 4 hour TL moved up? at what level? thanks

i see two green candles after the black candle (which is strange) coz we have had only 1 green trading day after the drop (is it b'coz of the 4 hour?) thanks

 

[4xpipcounter]

SJD, exactly!
This is where things get a little skiddish, as the correction can take on various forms.
For example, let's say everything happens according to the rule. There are still many variables:
1. We could have a slow, methodical, sideways move to the bottom of the cloud where the TL meets up with it, which is circa 5226.
2. We could have a strong spike to the bottom at 5048. Don't forget, it is the weekly TL, and the only thing required for the rule to stay in effect is a weekly (not 4-hour) close above it.
3. Price could consolidate under the TL and keep slowly rising while being contained under it, and then get a sharp move through the cloud and to the bottom.
4. Price could have the same TL consolidative characteristics as described above, then drop to the top of the cloud, consolidate, then break through.

Regardless of the scenario that plays out, it now looks as if the cloud will be broken into, and the bottom contains.

New low within the corrective trend ... But it would not be too low right? The cloud will come I'm the way, it is bullish and not fresh, so the correction will be contained by the top of the cloud. Is that right?

 

[manoharpillai]

Spot breaks 5357 and trade below this level 5324-5298-5272 are the targets on the up side
have to trade above 5357 and sustain above 5375 to get the targets of 5398 and 5432