Nifty and Indian stocks

[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 SPOT 5,770.90 -86.65 -1.48 %

The Nifty Futures cracked because of volume divergence shown yesterday .I also said the whole rally is suspect to me.Also see on yesterday’s 15 mins chart, I did not give the Neckline of the Shoulder Head Shoulder pattern as a bearish trigger but I gave the level as 5815.Today the market opened below 5815.There is no magic or information or secret involved here but pure technicals at work.

On 15 minutes chart, Watch the rectangle boundaries 5780 on the upside and 5755 on the downside. A break will give around 20 -25 point move at the minimum.

On daily Charts pattern has started to emerge as I had been saying since last so many days.

NIFTY FUTURES 15 minutes

NIFTY FUTURES DAILY

 

[a1b1trader]

CNX NIFTY SPOT 5,770.90 -86.65 -1.48 %

The Nifty Futures cracked because of volume divergence shown yesterday .I also said the whole rally is suspect to me.Also see on yesterday’s 15 mins chart, I did not give the Neckline of the Shoulder Head Shoulder pattern as a bearish trigger but I gave the level as 5815.Today the market opened below 5815.There is no magic or information or secret involved here but pure technicals at work.

On 15 minutes chart, Watch the rectangle boundaries 5780 on the upside and 5755 on the downside. A break will give around 20 -25 point move at the minimum.

On daily Charts pattern has started to emerge as I had been saying since last so many days.

Good analysis Dev, keep it up.
Your Volume divergence theory was amazing.

Yes you didnt give the neckline of the H&S pattern, but the outcome of this H&S comes out around 5815 levels

Yes on 15 minutes chart Nifty has formed a bearish rectangle, so it is likely to move down today. In the first part of the day Nifty moved in a down channel and in later part of the day, in a bearish rectangle.

Yes the daily pattern has started emerging, but NIFTY should not go around the recent low, which can negate this pattern formation.

IMO NIFTY can move downwards around 5725 or 5680 levels this week.

 

[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.

WATCH THIS SPACE ON TUESDAY, THURSDAY AND SUNDAY

CNX NIFTY SPOT 5,867.90 +30.95 +0.53 %

Nifty futures has formed an Inverted Shoulder Head Shoulder Pattern.A break and close with “VOLUMES” above the neckline of 5897 will take it to 6200 +. Problem is we have not seen good volumes on Buy days.

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 5,859.00 + 47.45 + 0.82 %

Nifty Futures is still hovering near the neckline.A break and close above 5905 with “Volumes” will take it above 6200.A break and close below 5816 will be bearish.

 

[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.

WATCH THIS SPACE ON TUESDAY, THURSDAY AND SUNDAY

CNX NIFTY FUTURES 5941.35 ( 5822.05) + 119.30

At last ……. Nifty futures crossed the Neckline above 5905 with volumes.If Nifty Futures stays above 5887 tomorrow also after the INFY result, expect a target of 6200+ .Stoploss is close below 5755.

 

[saivenkat]

Exactly my views.. i feel nifty would retrace to levels of 5885.. after a flyer today...and BNF to levels 11520.. before changing gears..

Other major event on card on Monday is the Chinese GDP data .. which is expected to miss even the forecasts of 7.4% by a wider margin.. ( YoY = 7.7%) If this happens .. all the rupee-dollar factor on nifty...Uncle Ben's remarks ..all will be pushed to back seat...

 

[a1b1trader]

At last ……. Nifty futures crossed the Neckline above 5905 with volumes.If Nifty Futures stays above 5887 tomorrow also after the INFY result, expect a target of 6200+ .Stoploss is close below 5755.

Hi
And what will be the position if NF falls below 5887 or even lower, tomorrow or afterwards say on Monday. Then what could be the level on lower side.

Do you believe if Wolfe Wave studies.
If so, then today NF forms a -ww pattern in daily and 60 min TF with target around 5650.

http://www.traderji.com/technical-analysis/4674-wolfe-waves-115.html#post829212

 

[devadas]

a1b1trader, If Nifty Futures falls below 5755, the Right shoulder level or say stays below the neckline of 5905 for a prolonged period , the bottomline being say the Inverted Shoulder Head shoulder pattern is nullified Then The Target will be the bottom of the head at 5556.

Regarding my belief in Wolfe waves and other studies, I believe in all studies.But the point remains how Perfectly it is applied by the practitioner of that system.Has the Analyst applied it on enough number of charts and does he rely on that study to make his living ,If yes then that study can be accepted and believed.

So it is not the study that matters but the Expertise in the study and the Analyst's confidence in that system.

And I do respect your views and confidence.

 

[devadas]

Great Lesson for traders

1) Never lose hope before the time
2) Never celebrate before the time
3) Never leave your post before the battle is over

https://www.facebook.com/photo.php?v=586282571416141

 

[a1b1trader]

Great Lesson for traders

1) Never lose hope before the time
2) Never celebrate before the time
3) Never leave your post before the battle is over

Wow!!
Really great lessons.