Nifty Entry ,Exit ,Target levels with Median Line Charts

[4xpipcounter]

Kavima, maybe I missed something. I didn't know your methodology took into account candle formations.

@RKGOYAL

Yes, with the negative trend, the downside probable targets are at 4400-4350 zone .On the way down, there is a support zone at 4850-4800, where there could be a pause / consolidation and then a breakdown again.

 

[reachchirag]

Adding the EOD 5 min chart and 60 min chart below.
Great to see how Median lines can help in tracing the path of price.!!

EOD 60 MIN CHART ANALYSIS

Price reached
1.50 Sma at EOD
2.Equal to a previous swing low at 4915-20 zone.
3.38.2 % R of previous swing move 4639-5097
4. Touched base of Trigger line / Trendline from Pivot through point C of current PF.
This can be considered as support for the fall today.
Price can retrace till 5000 zone to touch the new Blue downsloping pitchfork UMLH which is a good location to reenter shorts.
Targets 4850-4800 zone at the Blue ML.

HI Kavima,

I would like to know where have learnt these Median Lines?

 

[Kavima]

@Chirag
Pl chk my other thread which has info on trading with median lines.

 

[Kavima]

Looking at global cues,market can gap down towards lower support levels
And reach 4850 zone today

 

[Kavima]

9.12.2011 _Friday

 

[reachchirag]

Do u also draw this level for stocks apart from nifty.

 

[Kavima]

@Chirag
Yes. M lines can be used for stocks also.they can identify good entry and exit levels.

 

[darshanshukla]

Dear Kavima,
Following thread since beginning and fan of it.
Here i'm posting chart of Bank Nifty Cash and four (4) Major Banks which are having more than 60% weight in Bank Nifty

According to Andrew's primary law all are returning back without touching Median line so they have to form double bottom or new low (either of this), including Bank Nifty itself. While SBIN is coming back after breaking Median line so it will fall more faster than others.....

Just guide me if I'm wrong,
Thanks,
Dr.Darshan

@Chirag I have quoted you as I am using it for stocks more than Index so just an example for you.
Charts as in descending order,
1-Kotak Bank
2-Axis Bank
3-ICICI Bank
4-Bank Nifty

@Chirag
Yes. M lines can be used for stocks also.they can identify good entry and exit levels.

 

[Kavima]

@darshanshukla

Good to see yr feedback.I will give my feedback on the stocks in my other thread as this thread would like to keep it for nifty.will post it today.
Rgds

 

[Kavima]

Price reached aggressive long entry zone ( refer friday's 5 min chart).Stoploss below recent swing lows.