Nifty Entry ,Exit ,Target levels with Median Line Charts

[darshanshukla]

It seems all are in downside and giving targets... below 4900
market is always do something new
so we also must prepare for that even...
as above 5188 breakout of W pattern will be there,
I will go with Kavima's thought, " we must follow the Market rather predicting it"

Happy trading ahead,
Dr. Darshan

 

[Kavima]

21.10.2011_Friday

 

[Kavima]

24.10.2011_Monday

Nifty still resisted within the upper resistance zone of 5160 levels.If moving within a range between 5140-5075 for 1-2 days / and If support is maintained at magenta LML at 5075-5050 area , then there is the possibility of the breakout.
If 5030 breaks down,then we have to head towards 4950 zone.

 

[TraderRavi]

24.10.2011_Monday

Nifty still resisted within the upper resistance zone of 5160 levels.If moving within a range between 5140-5075 for 1-2 days / and If support is maintained at magenta LML at 5075-5050 area , then there is the possibility of the breakout.
If 5030 breaks down,then we have to head towards 4950 zone.

well I am seeing a breakdown exactly at the starting point of that arrow...

 

[Kavima]

hi TR
If it does,I will be behind it :lol:

 

[Kavima]

25.10.2011_Tuesday

RALLY TODAY :thumb::clap::clapping:

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[Kavima]

27.10.2011_Thursday

Tim Morge,the expert trader ,(www.marketgeometry.com) from whom I have learnt the method of using median lines,explains the way in which the market map is drawn and area of confluence of supports and resistances are identified.His motto is to be very patient, to identify an entry point with the smallest risk and entering the trade only after price action confirms the test / retest of the lines.He teaches how large institutional buyers , the Whales wait to "gobble"up the small fish at previous supports and resistances.The first instance of a breakout, one see's a rush of buyers / sellers ( upside/ downside breakout ) to enter not wanting to miss the momentum.But , many instances it is seen there is a pullback to the earlier breakout point ,dropping off the breakout traders, pulling out their stops.and continues with a small consolidation or range bound movement.The breakout of this range / consolidation gives a better entry point and confirms the change in behaviour / trend in the particular timeframe.

Attempting to map the Nifty's recent price action with a Multipivot median line - this is another tool in the median line method.( drawn it on a 30 min chart so that my 60 min chart studies can be maintained).The breakout of the stiff resistance gave a rally to 5200 levels.How will Nifty move on from here? What are the probable trades possible within the existing market structure.Here is my take...

 

[darshanshukla]

It seems all are in downside and giving targets... below 4900
market is always do something new
so we also must prepare for that even...
as above 5188 breakout of W pattern will be there,
I will go with Kavima's thought, " we must follow the Market rather predicting it"

Happy trading ahead,
Dr. Darshan

Dear Friends,
Amar, 4xpip, T.Ravi
See my dear what happens when all are in short side...
market do always something uncommon,
as STda said in some thread just follow intraday movement and market psychology...
untill all short of common people like us will cover it want fall down below 5325

Happy trading ahead,
Dr. Darshan

 

[Kavima]

28.10.2011_Friday

Strong global cues obviously gave momentum to the rally today, though expected to rise but not as fast as it was with the gapup till 5380 levels. Price hit the major red median line exactly and rangebound through the day.No intraday signs of the upmove waning, so will hold the longs with hedging till the chart patterns emerge.

 

[4xpipcounter]

Darshanshukla, IMO, it is a very common misnomer to focus on the big money or small money moving the markets.
Let me direct your attention Kavima's post in #139. With the strong spike, it was still contained by the median on the larger fork. He is also calling for consolidative movement at the state area. Big money and small money has nothing to do with solid technical views on market movement.

Personally, I called for a move to the 4600's when Nifty was in the 6000's. AS we got closer, I honed the number to 4666, and possibly 4592. The dip was 4720, so I missed it by a slight amount. My question is, "What did Gates and Buffet's money have to do with the drop? It was already foretold by solid TA's."

As I muse here at Kavima's thread, I can still adhere to one technical principle. Solid technical analysis produces more or less the same result. Kavima uses pitchforks. I use ichimoku. Someone else might use Elliot Wave, and etc, etc. Who has all the money, and who is putting it where and how is more hype than anything.

LOL, now that I shared an opinion, I'll go back to being a silent viewer.

Dear Friends,
Amar, 4xpip, T.Ravi
See my dear what happens when all are in short side...
market do always something uncommon,
as STda said in some thread just follow intraday movement and market psychology...
untill all short of common people like us will cover it want fall down below 5325

Happy trading ahead,
Dr. Darshan