NIFTY 50 future TRENDS

[manoharpillai]

Mano Ji, how did you count the first 3 bars in the second range and not the trend? As I see none of these was ever tested again, so drawing a range / rectangle thought them is pointless. It does give us a narrower range going forward.

Just mean to say we are in trading range and Is an approximate calculation .... 5030 is possible as long we trade above 4780
it is 50% retracement Fibo. value from the breaking point of 5280
Upper Value 5280
61.8% Retracement Level 5089
50.0% Retracement Level 5030
38.2% Retracement Level 4971
23.6% Retracement Level 4898
Lower Value 4780

 

[sanjosedesi]

Just mean to say we are in trading range and Is an approximate calculation

You might be right, but if I eliminate the first 3 candles from the range and move it to the trend ... we are still in the middle of deciding whether it is the trading range or an almost V shaped recovery. The same pattern (at a bigger scale) can be observed (on the same chart) in towards the end of December - beginning of January when we had a massive FII led bull rally.

Looking carefully, the "trend" actually goes up to 6 candles in the market trading range as all of them are making lower lows.

Anyway, time will tell !

 

[manoharpillai]

You might be right, but if I eliminate the first 3 candles from the range and move it to the trend ... we are still in the middle of deciding whether it is the trading range or an almost V shaped recovery. The same pattern (at a bigger scale) can be observed (on the same chart) in towards the end of December - beginning of January when we had a massive FII led bull rally.

Looking carefully, the "trend" actually goes up to 6 candles in the market trading range as all of them are making lower lows.

Anyway, time will tell !

If V shape recovery have to come about the break out point is 5180 not before that, It is TL break out (descending wedge break out) and Double Top break out both coincided at the Same Point at 5180.
According to me at this moment it would be too early to predict the recovery The levels to watch for confirmation of upside trend changes are 4984-5050-5080 and finally 5180.
For down side close below 4876/4780 confirm further move towards south.

 

[CASPER]

An Extract from Ed Seykota's Interview with J.D.Schwager....,

Full Interview can be found at ......,

http://www.curatedalpha.com/2011/curated-interview-with-ed-seykota-from-market-wizards/

A song By Ed Seykota on Whipsaw......,

http://www.youtube.com/watch?v=LiE1VgWdcQM

 

[Smart_trade]

Passion for markets and trading is something all successful traders have.....it is impossible to succeed in this tough game unless one has passion. If one comes in this profession because he has not succeeded in any other profession, his friend told him that there is easy money to be made here, his friend's father-in-law trades and has a big car etc etc....he is bound to fail...100 %...

ST

 

[jassinko]

aaj itna sanaata kyon hai bhai????

 

[manoharpillai]

Intra day Spot nifty Levels

4967.76 4985.40
4952.64>UP
4935.06>Down
4935.06 4919.97 4902.45

 

[Blitzz]

US market is closed today so Market will be range-bound today. very less probability of having a continuous up move.

I have sold 1 lot NF at 4954. Have placed a sell order for 2 lot NF at 4967 also. Stoploss is 4983 for all 3 lots.

 

[rajasree1]

Manohar Sir,
I am ready to short at 4980 lvl spot expecting at 12:35
Is it correct? My system is giving a sell signal at that point of time.
My system is not yet properly back tested.
Pl comment.
Thanks.

 

[manoharpillai]

Market is making steady move towards 5000 mark its going to be sluggish and laborious move 4985 is Res. will consider shorting only below 4937 intra day.