Nifty: Daily Price Analysis
- Thread starter SwingKing
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Very surprised to see guys here saying that TA is not working n such. Here is a daily chart with trendlines drawn, TA has been working perfectly! I know how TA is done at institutions.. its basically a way to keep everyone on the same page.
Today we have opened right into a resistance zone.. This is going to resolve one way or another soon..
Today we have opened right into a resistance zone.. This is going to resolve one way or another soon..
As intraday traders, we need some volatility.... to make money in either direction....
today we are stuck in a 25 point range, despite having broken out of a 9 day narrow range of just 50 points... that too with good global cues to back us up...
TA is useless when range becomes narrow and range expansion is not followed by continuation...
today we are stuck in a 25 point range, despite having broken out of a 9 day narrow range of just 50 points... that too with good global cues to back us up...
TA is useless when range becomes narrow and range expansion is not followed by continuation...
True. Charts are not trending much on an intraday basis.. As I'm not an intraday trader I posted my previous post from my point of view.. Has been trending well on the daily and above TF charts..
Market works in cycles though and larger intraday moves should be around the corner :thumb:
Market works in cycles though and larger intraday moves should be around the corner :thumb:
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Linkon,
Picture speaks louder than words. Hence, here's a shot of the mighty Niagra Falls taken by me from Skylon Tower. Notice anything ??
Water seems to be so calm (barring the few ripples you see) before approaching the drop . But look at what happens when water starts to roll down the fall. Niagara falls taught me a very important lesson. Just before things get worst, things seem merry. I knew this before, but when nature re-iterates it, it certainly feels good. This dull environment will pass by.
Tc
Picture speaks louder than words. Hence, here's a shot of the mighty Niagra Falls taken by me from Skylon Tower. Notice anything ??
Water seems to be so calm (barring the few ripples you see) before approaching the drop . But look at what happens when water starts to roll down the fall. Niagara falls taught me a very important lesson. Just before things get worst, things seem merry. I knew this before, but when nature re-iterates it, it certainly feels good. This dull environment will pass by.
Tc
Hmm now I see how and why you performing well in trading. Seems you have successfully incorporated adjusting lenses of SLR style to your trading style i.e. focus lens (main trading strategy or indicator) and surrounding lens (other indicators or strategies), while working with focus you dont let surroundings get blurred and hence cud get widen and clear horizon
Nifty Weekly Analysis - 29th July 2010
On 18th of July 2010, I had stated that markets would make an intermediate high of 5470. Till now, the high remains at 5477. Markets have not moved beyond this point. As of now, my view remains intact. I have been positional short on the markets from these levels. Hence the risk to reward in this particular case is in my favor.
I don't believe we are heading for a sudden crash. This correction is going to be slow and would only pick up steam in the last leg. We may still be far from the correction time frame. This is something which is seemingly difficult to judge. In case levels of 5470-5477 gets taken out, I would be inclined towards squaring off my shorts. Markets have a tendency to depict irrational exuberance when it comes to price movement. Hence, I would make sure to manage risk at appropriate levels.
Let's see how things ultimately span out.
Tc
On 18th of July 2010, I had stated that markets would make an intermediate high of 5470. Till now, the high remains at 5477. Markets have not moved beyond this point. As of now, my view remains intact. I have been positional short on the markets from these levels. Hence the risk to reward in this particular case is in my favor.
I don't believe we are heading for a sudden crash. This correction is going to be slow and would only pick up steam in the last leg. We may still be far from the correction time frame. This is something which is seemingly difficult to judge. In case levels of 5470-5477 gets taken out, I would be inclined towards squaring off my shorts. Markets have a tendency to depict irrational exuberance when it comes to price movement. Hence, I would make sure to manage risk at appropriate levels.
Let's see how things ultimately span out.
Tc
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