Nifty Entry ,Exit ,Target levels with Median Line Charts

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Kavima

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#271
#271
check out this intraday 5 min chart.
price reversed at the median line junction.orange parallel line, it can stall and retest the UMLH and then the blue ml. an intraday short can be attempted with minmum stoploss.Upmove only above 4630.
If price moves down through the orange parallel line , further down move expected.
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K

Kavima

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#273
#273
20.11.2011 Tuesday 60 min chart

Price was retested / resisted at the blue ML , moved in a sideways range before giving away towards the earlier lows.5 min charts show the locations which identified the entry of intraday shorts at the ML.
Tommorrow, I expect the 4600 be tested again and then gears up for the next leg of fall towards 4450 zone.The dynamic resistance line will act as a trigger to close shorts if price moves out of the dynamic channel
 
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rkgoyal_98

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#274
#274
Dear Kavima,

I appears that with such a strong move in Us Market Nifty may open Above 4600. So it may be out of Down sloping line. Sgx Nifty is also sugesting similar move a possibility. In such a case will you like to close shorts on the opening trade or will like to Wait for retracement.

If we see today's price action it is somewhat similar to what happened on 5th Oct, There was wild moves during the day an price closed near the low of the day. It was near the trendline ( rather taking support on the trendline)
Today's action was some what similar and we are just below trendline.

So what can be trade stretegy if price opens beyond downsloping line

Regards
 
K

Kavima

Well-Known Member
#278
#278
2.01.2012 _Monday
60 min chart



Down trend still continuing...

Red PF is the major PF defining the trend and containing the downtrend till now.The price was supported at 4530 at the ML and has made a retracement , tested the Upper red ML parallel at 4800.The current move is again towards south .

Drawn a green Upsloping PF to estimate the support level for the downmove.The area marked in yellow would have been a good support area for an upmove to start, but price has moved further.

Drawing the dynamic Swing line from 4800 to latest low , with a parallel line through the previous minor swing high, today the price has moved past the Dynamic resistance line.The slope of the current Swing indicates the slowing down of the momentum ( price bars reached 76.4%R of the previous swing and are moving more along the UMLH and away from the ML) , with price probably trying to build a base / double bottom for an upmove.With the current position in the chart, price can move upto 4690 zone.From there two probable outcomes

1.Price moves towards 4800

2.Price is resisted at red UMLH at 4690 zone and moves down towards earlier low at 4530 and further below to retest the downsloping support line projected from earlier Lows.
 
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