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

[a1b1trader]

One more thing i have in mind, is we have multiple threads for Nifty, it is better if we have one thread. with different analysis, it would make more sense to see interpretation and trend analysis with targets.
- Paras

Sorry, I do not support this idea.
It will become "khichdi" if we have one thread for various types of analysis.
Khichdi may be good for indigestion but this khichdi of TA will certainly create indigestion for us, the learner of technical analysis.

 

[Kavima]

4.02.2013 Monday

Price has taken support at the Blue median line at EOD.
So any bounce from this zone has a target at the Blue downsloping UMLH ( around 6036) and next at the green upsloping ML ( around 6078).

 

[josh1]

This is of Nifty Future

and this is spot they are going up. I feel NF wil cross above 5993 this time since it did not touch the lower ML of minor fork. Of course, it has to go above the thick major one in the middle

The downsloping lines are resistances. Sometimes I do get confused which one to follow.

My 2 cents

 

[Kavima]

7.02.2013 Thursday

Nice post Josh1..!! In my chart ,Main PF is the same ...However the smaller downsloping red PF , I have taken the swing pivots from yesterday,assuming today's swing may not have ended.The dotted green PF is drawn for a " what if " today's low is a pivot of the downswing and levels projected.If prices move down further then the green PF gets invalidated and will have to wait for the next minor pivot.You can use a moving average and identify the pivots above and below for drawing the minor and major PFs - 50 SMA for larger swings and 5 or 9 for smaller ones.
Today's chart

 

[josh1]

A probability that we have reached a support /reversal area
]

Yes we have reached a major support /reversal area

 

[Kavima]

8.02.2013 Friday

 

[Kavima]

11.02.2013 Monday

 

[Kavima]

12.02.2013 Tuesday

 

[Kavima]

13.02.2013 Wednesday

 

[josh1]

I have added two more PFs and a small one for two days fall. The small one was broken on right-up side and price went up. That has become invalid now.

Think Magenta PF seems to be giveing good results. I drew the last Thin Red PF since Nifty recovered 38.2% of its downfall.

If Nifty manages to go above Original major PF(Thick Red) and also Magenta line we can see 5950.