Nifty Entry ,Exit ,Target levels with Median Line Charts
- Thread starter Kavima
- Start date
- Tags median lines nifty levels nifty targets pitchforks trading strategy
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Hi all
When the Cat is Away the Mice are at Play !!:lol::lol::lol:
SG,I thk if we have to wait for the weekend,we'll have lot of them become :annoyed:.As it is Nifty is testing our patience!!
With yr permission posting the answer to the fun riddle...
Where one is expecting the other person to ask after the Ps & Cs... "What About The Glue ?"
And the Prompt Reply is ... "That Is Where You Get Stuck"
When the Cat is Away the Mice are at Play !!:lol::lol::lol:
SG,I thk if we have to wait for the weekend,we'll have lot of them become :annoyed:.As it is Nifty is testing our patience!!
With yr permission posting the answer to the fun riddle...
Where one is expecting the other person to ask after the Ps & Cs... "What About The Glue ?"
And the Prompt Reply is ... "That Is Where You Get Stuck"
23.01.2012 Monday
60 min chart
Still in indecision zone.Is Nifty waiting for one more batch of buyers to push it to the top or will it back out in its rally tommorrow.No clue as per charts but very close to the initial testing of the breakdown point from the Green LMLH.Looks like there may be another day of testing the support levels.Longer it takes, the upward move prospects will be brighter rather than the correction to the current rally.
60 min chart
Still in indecision zone.Is Nifty waiting for one more batch of buyers to push it to the top or will it back out in its rally tommorrow.No clue as per charts but very close to the initial testing of the breakdown point from the Green LMLH.Looks like there may be another day of testing the support levels.Longer it takes, the upward move prospects will be brighter rather than the correction to the current rally.
Posting the Daily Chart analysis...
Looking at the bird's eye view, Nifty, if supported after minor pullbacks, will accumulate momentum to touch 5200 zone , which is near the confluence of a major Upper median line parallel which is a resistance zone and a cluster of horizontal resistances.Price has memory and it is highly probable it can visit the zone if the pullbacks are short from the 61.8 % fib R level at 5075 - 5100 zone.
Looking at the bird's eye view, Nifty, if supported after minor pullbacks, will accumulate momentum to touch 5200 zone , which is near the confluence of a major Upper median line parallel which is a resistance zone and a cluster of horizontal resistances.Price has memory and it is highly probable it can visit the zone if the pullbacks are short from the 61.8 % fib R level at 5075 - 5100 zone.
24.01.2011 -Tuesday
60 min chart
If Price hits the 5180-5200 zone, it would be another example of the Magic of Median lines
.
Expecting price to hit 5180 and then profit booking to start which may drag price down to 5080-5085 levels at the LMLH support.If volatile on the expiry day then we can expect this to be the series close.
Price still is in an uptrend till we get a signal of price crossing previous swing lows at 5000-5020 band.Then we look out for retracement to test the highs.If price moves in a range within 5200-5100 then we can aim for higher targets.The game would be to watch how the price reacts at the current resistance zone.
60 min chart
If Price hits the 5180-5200 zone, it would be another example of the Magic of Median lines
.Expecting price to hit 5180 and then profit booking to start which may drag price down to 5080-5085 levels at the LMLH support.If volatile on the expiry day then we can expect this to be the series close.
Price still is in an uptrend till we get a signal of price crossing previous swing lows at 5000-5020 band.Then we look out for retracement to test the highs.If price moves in a range within 5200-5100 then we can aim for higher targets.The game would be to watch how the price reacts at the current resistance zone.
@TP
Nifty has raced up till this point leaving everybody gaping .Will it not want to touch the finishing Line?? :thumb:
Expectation is a higher open and expiry day volatility to pull it down...Well ,if it gaps down also will have to watch out where it gets supported, first support being 5085 zone as per ML and S/R levels. Isn't trading a boxing ring game and we just have to wait to watch while the bulls and bears are punching each other and then line up with the winner..I'm also waiting to see who's the winner...
Nifty has raced up till this point leaving everybody gaping .Will it not want to touch the finishing Line?? :thumb:
Expectation is a higher open and expiry day volatility to pull it down...Well ,if it gaps down also will have to watch out where it gets supported, first support being 5085 zone as per ML and S/R levels. Isn't trading a boxing ring game and we just have to wait to watch while the bulls and bears are punching each other and then line up with the winner..I'm also waiting to see who's the winner...
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