Nifty Entry ,Exit ,Target levels with Median Line Charts Part 2

[josh1]

Kavima seems busy. I am contributing in her absence. The UMLH of Magenta PF gave good resistance to Nifty. However, once it closed above it, went straight to the target of 5950. Both spot and future stopped below their respective 100 SMA.

If Nifty does not open above 5947 tomorrow, it will come down to 50% of the move i.e 5916. Logic- 5947 is also 15 SMA on daily chart. Nifty has gone too far from its average. It is also resisted by the Median Line of Red PF both minor and major.

 

[timepass]

Thanks Josh. Please keep up the updates :thumb:

 

[Kavima]

@josh1 ..thanks for your charts and updates.Glad to see somebody joining the Median line Club!!

19.02.2013 Tuesday

 

[Kavima]

*************

 

[Kavima]

20.02.2013 Wednesday

 

[josh1]

I feel using 15,50,100 sma can be useful along with pitchfork

 

[venky1893]

i wonder how to use this technique , can anybody explain me or give me some link to understand this , some one help me out

 

[LivetoTrade]

i wonder how to use this technique , can anybody explain me or give me some link to understand this , some one help me out

http://www.traderji.com/advanced-tr...edian-lines-andrews-pitchfork.html#post586126

 

[josh1]

Nifty went sideways and 15 sma came down. Facing resistance from 15 sma and seems to be supported by todays's Pivot (5861.53). Next resistance will be 50 sma(blue) and UMLH

Daily Chart 5835 Important level (100 days sma) and also ML where it got support on Friday.

Explanation-- this is Nifty Future on 60 min and Nifty Spot on Daily. Future is right now at par with spot.

 

[Kavima]

25.02.2013 Monday

Posting the charts with the 60 min bars as the charts clarity will be better.