NIFTY 50 future TRENDS

[timepass]

4xpip,

I read very recently about 1-2-3 on nifty futures in one of your posts. Nifty fut today made bearish 1-2-3 on daily TF.

Mujhe dikhta nahi hai bhai.. tumhara chart dikhao na.

 

[4xpipcounter]

The market had a strong spike, so I decided to update the forecast.

The market hit the ground running as it began the week with the spike to my WS1 at 5336, and then missed the WS2 by only 9 points. After the WS2 at 5285 is hit, some consolidations might be expected but only as implied by the hourly chart. It is possible to see a move to my WS3 at 5198, and then see a strong bounce from there.

adult image hosting

After the completed correction to the 4-hour TL, and with the market trapped inside the weekly cloud, there is little doubt it is headed lower this week. I mentioned in another post the WS2 at 5284 is virtually on the radar. It is possible for the market to drop to 5242. Anything lower than the latter, and this market will start getting real volatile.

 

[4xpipcounter]

Vinst, this is part of the reason that 5198 is perfect reasonable and 5089 could also be hit, but that would come packaged with an extreme volatile reversal.

4xpip,

I read very recently about 1-2-3 on nifty futures in one of your posts. Nifty fut today made bearish 1-2-3 on daily TF.

 

[vinst]

Mujhe dikhta nahi hai bhai.. tumhara chart dikhao na.

special annotatation for TimePass.
with one free bullish 1-2-3 also indicated on NF daily chart (of course, in historical data !!)

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click image for full size view.

regards,
vin

 

[RAAMAKANT]

Again SUDOKU1 and Mr. PAUL, both came with nearly same levels. :clap:
Hats off you guys.... :thumb:

 

[4xpipcounter]

The 1-2-3 is powerful stuff.

Unlike TL's, all you need to do is set and entry stop just about 2 points on the other side, wait for it to hit, and you are off to the races.

special annotatation for TimePass.
with one free bullish 1-2-3 also indicated (of course, in historical data !!)

[/URL][/IMG]

click image for full size view.

regards,
vin

 

[4xpipcounter]

Wow, Raamakant! Thanks for pointing that out. This is not the first time this has happened.

I know it is a matter of semantics, but I believe his is more of an actual target. Mine is a potential target for this week. Nevertheless, it is a nice confluence between 2 complete different methodologies.

Again SUDOKU1 and Mr. PAUL, both came with nearly same levels. :clap:
Hats off you guys.... :thumb:

 

[rkgoyal_98]

Quoting from Vivek Patil's view

Sensex has also achieved the minimum downside expectation we had placed at 38.2% retracement level to the preceding 7-week rally, i.e. 17400-500.

The low for the week was hit on Monday at 17381. Index moved into a sideways phase for the rest of week. The corrective phase, however, could not retrace more than 61.8% retracement level to the fall from 18424 (22nd Feb) to 17381 (27th Feb).

This fits into the definition of what is called as a Zigzag corrective. In a Zigzag, which is a 3-legged corrective marked as a-b-c, a is impulsive, and b corrects less than 61.8% of a.

Further, corrective phase to a, i.e. b, should consume more time than a. Last weeks sideways move, thus, consumed more time than a as required. Once b is over, c has to break the end-point of a.

As a result, if the Sensex does not retrace more than 61.8%, i.e. move above 18000-100, it is likely that last weeks low will be broken. Once broken, we confirm the corrective phase to be a Zigzag as perceived. The c of Zigzag can achieve 38.2% to 100% ratio to a.

Equivalent level on Nifty is between 5247 to 5025 on the Spot

 

[dhootankur]

Paul sir, can a post for 1 - 2 - 3 pattern with some live examples be done...that would really help.... plzzzz

 

[RAAMAKANT]

Wow, Raamakant! Thanks for pointing that out. This is not the first time this has happened.

I know it is a matter of semantics, but I believe his is more of an actual target. Mine is a potential target for this week. Nevertheless, it is a nice confluence between 2 complete different methodologies.

Yaa. I know, it's not first time. But whenever you both came with same target on different methodology, it makes me think, HOW CAN BE THIS ACCURATE?