Nifty and Indian stocks

[a1b1trader]

Re: NIFTY TOUCHES TARGET

Coming back to charts, see the daily Nifty Futures charts, there is a measuring gap which developed today.The target of this gap is 5563 (5608 as edited by you).Stoploss is a close above 5748 i.e a close above 5748 will negate this pattern.

Can you please elaborate a little.
What is meant by the target of the gap.
How the target of the gap and negation point is calculated.
Thanks

 

[devadas]

Re: NIFTY TOUCHES TARGET

Can you please elaborate a little.
What is meant by the target of the gap.
How the target of the gap and negation point is calculated.
Thanks

A pattern gap has no significance, i.e gaps which occur within patterns.

A breakaway gap acts as a support.

A measuring gap occurs at half way, so it has a target.

An exhaustion gap occurs at the end of the move so foretells reversal.

Try Investopedia or stockcharts for basic understanding abt these.

Hope this helps.

 

[devadas]

DISCLAIMER: These notes/comments have been prepared solely to educate those who are interested in the useful application of Technical Analysis. While due care has been taken in preparing these notes/comments, no responsibility can be or is assumed for any consequences resulting out of acting on them.Trading in Stocks/Commodities/Futures Carry Risk.

CNX NIFTY ( 5,808.40) +109.30 + 1.92 %

Graphs and Levels mentioned below are related to Nifty Futures

Nifty Futures negated the Runaway gap by staying above 5748.This small body formed on Thursday turned into a morning star and hence this rally. Right now the low of the morning star i.e 5692 is the stoploss for longs.A break below 5692 or any other pattern at a later stage in this rally may invite selling.

The gap that happened on Thursday may be Common gap ( No significance) or Exhaustion gap ( A short term bottom).It will be treated as an Exhaustion gap only if NIFTY futures in the near future does not test 5747 -5738 levels.

Concentrate on Hourly charts for short term patterns.I will also post hourly charts as and when patterns appear.

NIFTY FUTURES DAILY

 

[tanmaykk]

Re: NIFTY TOUCHES TARGET

Dear Devdas sir
what will happen tomorrow to nifty.

 

[tanmaykk]

Dear devadas
i am tanmay
new to your community.
Hello.
Can you please comment on tomorrow what will happen most likely.

 

[devadas]

Re: NIFTY TOUCHES TARGET

Dear Devdas sir
what will happen tomorrow to nifty.

I have shown clearly that if NIFTY does not break 5692, it is bullish.Point is where you buy.See Intra charts and take positions.Hope this helps

 

[devadas]

NIFTY CRASHES

Graphs and Levels mentioned below are related to Nifty Futures

In my last post I mentioned that if NIFTY Futues tests 5747 5738 levels, the gap may be called pattern gap or common gap.So we may form some kind of pattern in this area. Once the clear picture emerges, the direction can be anticipated.

NIFTY FUTURES DAILY

 

[devadas]

DISCLAIMER: These notes/comments have been prepared solely to educate those who are interested in the useful application of Technical Analysis. While due care has been taken in preparing these notes/comments, no responsibility can be or is assumed for any consequences resulting out of acting on them.Trading in Stocks/Commodities/Futures Carry Risk.

CNX NIFTY (5,667.65) + 11.75 + 0.21 %

NIfty Futures as I said may be in the process of making a pattern.Only point of concern for bulls is that it is now below 200 dma ( red line) at 5776.Failure to go above this level in the coming days is going to be a problem for the bulls.Wait for the pattern to complete and then on the break of the pattern decide which side to go.

NIFTY FUTURES

The bottom post is meant only for people following this particular type of analysis.Ignore if you can’t follow.

Variety is the spice of life.One can analyse anything by using different methods.I am giving below the graphs for Connoisseurs of TD Range of subjects from Sequentials, Countdowns and Combos.

The daily chart of Nifty Futures nailed the top by 1 day.The Spot Nifty nailed it on the day.Currently the TD’s haven’t given any buy signal.We will wait for it to give a buy signal.On the chart the pink ( Combo) is 7 and the white ( sequential) is 4.Buying is only after either of them turns “13″.

NIFTY FUTURES DAILY

3 mins Nifty Spot nailed the selling at around 5675 and it went down by 50 points. See the “13″ with arrow.Right now it has finished a Sequential of 9 .Combos and countdowns not shown.

NIFTY SPOT 3 mins

NIFTY SPOT 15 mins

Here also bottom was nailed on “13″

 

[a1b1trader]

Will you please name the pattern it is forming. As previously I got the pattern NIFTY was forming, but this downwards move perhaps has changed it, so unable to name the pattern formation

OR

It is forming, still the same pattern.

Previously tried to follow TDST charts also.
Please let us know. if you will give feedback on this system regularly

Thanks

 

[devadas]

a1b1trader, since common gaps have formed , I suspect some kind of pattern "forming".Till we have 4 points i.e 2 up and 2 down telling what is the pattern is difficult.Once 4 identifiable points are formed one can say.

But in short I feel 5500 -5867 is the area where we may see some kind of consolidation / distribution pattern to form.Do not attach too much importance to levels i.e 5500 - 5867, just a thumbrule.

Also TDST on daily charts has started TDcountdown and TDcombo so I feel some pattern may happen in this area.

I will post as and when I get some TDST patterns, but won't promise anything.Because I believe and follow the principle that "promises" should not be broken.So I dont put myself in a bind.

Since right now I am having some commitments and other engagements, I will certainly try to post charts as and when possible.Also anyone is free to comment and point out mistakes so we all can learn.

Hope this helps.