NIFTY FIFTY

[AMITBE]

Amit Ji,

Wish you a very Happy Diwali

Regards

MB, a very happy Diwali to you too.
Have a great year.

 

[AMITBE]

And without some consolidation around those above mentioned levels, which will get dragged up along with the price, and which I'll track as we go, this move too will be false false false.
How long will the falsity last....who knows.

Those levels being referenced above were then at 2380-2390.

Well...NF did pullback to touch 2370 briefly and rallied on. No consolidation though. With today's gap up, that area has now shifted sharply to 2525-2535 levels. (Please note that these 'zones are a moving target, shifting with price action)

Two things happened in the gap up tonight.

First, I have a trendline drawn on my charts which in its brief history has been repeatedly respected from below but not breached. NF gapped right through it tonight.
Whether this may be seen as a bullish sign, or just another gap waiting to be filled, is a matter of conjecture. (Gap-filling means not a lot currently, and I don't believe anyone's tracking gaps at this time.)

Second, and this is the important one, is that, in the sharp leap, NF left behind the second PP zone up (first one was mentioned above, yesterday).
This second area as of tonight is at 2585-2595. (NF at 2689 )
And further, the closing price of NF (2689) sits right at the next zone up, the third one, which as I've written earlier, is the real sticky zone.

So now, yet again, NF appears to be trapped between the two zones written above, and from what I have studied in the past, there is usually no easy escape from these, and they catch up with price sooner than later. And to add, there was not a lot of consolidation to begin with at the levels mentioned yesterday either.

I' not calling the market, but those zones written above are all well below the closing today. That's just what the charts say.

One more thing, I'm aware all the posts containing all those zones may well confuse the readers and so, may be quite meaningless. They are not even static support/resistance kind of levels.
However they do make sense to me, the reason I post them.
The few who attempt to follow them should perhaps write them down for easy reference. When the levels shift, as they always do, I will mention them as 'before and after' kind of thing for easier tracking.

 

[AMITBE]

Those levels being referenced above were then at 2380-2390.

Well...NF did pullback to touch 2370 briefly and rallied on. No consolidation though. With today's gap up, that area has now shifted sharply to 2525-2535 levels. (Please note that these 'zones are a moving target, shifting with price action)

Two things happened in the gap up tonight.

First, I have a trendline drawn on my charts which in its brief history has been repeatedly respected from below but not breached. NF gapped right through it tonight.
Whether this may be seen as a bullish sign, or just another gap waiting to be filled, is a matter of conjecture. (Gap-filling means not a lot currently, and I don't believe anyone's tracking gaps at this time.)

Second, and this is the important one, is that, in the sharp leap, NF left behind the second PP zone up (first one was mentioned above, yesterday).
This second area as of tonight is at 2585-2595. (NF at 2689 )
And further, the closing price of NF (2689) sits right at the next zone up, the third one, which as I've written earlier, is the real sticky zone.

So now, yet again, NF appears to be trapped between the two zones written above, and from what I have studied in the past, there is usually no easy escape from these, and they catch up with price sooner than later. And to add, there was not a lot of consolidation to begin with at the levels mentioned yesterday either.

I' not calling the market, but those zones written above are all well below the closing today. That's just what the charts say.

One more thing, I'm aware all the posts containing all those zones may well confuse the readers and so, may be quite meaningless. They are not even static support/resistance kind of levels.
However they do make sense to me, the reason I post them.
The few who attempt to follow them should perhaps write them down for easy reference. When the levels shift, as they always do, I will mention them as 'before and after' kind of thing for easier tracking.

That zone mentioned last night, in red, remains where it was. So as far is this area is concerned, it's being respected.


The other zone from last night, in blue, too remains the same.
At whatever level the test of this happens, is what I'm interested in looking at.
Academically of course.

 

[orderflow13]

Amit sir ,
red zone 2689 been breached.... what is next study/zone says ?
in my chart day high of friday is imp resistance/reversal point.

 

[AMITBE]

Amit sir ,
red zone 2689 been breached.... what is next study/zone says ?
in my chart day high of friday is imp resistance/reversal point.

Alex, that area marked in blue, ie, 2585-2595 has now shifted to 2620, around there on account of the prolonged higher levels of NF.

However there is a new area building up at around 2660-2670.

And that level marked in red 2689 is not really letting things go...and others seem to be attracting?

Your chart may be true....but this is different.

 

[AMITBE]

Alex, that area marked in blue, ie, 2585-2595 has now shifted to 2620, around there on account of the prolonged higher levels of NF.

However there is a new area building up at around 2660-2670.

And that level marked in red 2689 is not really letting things go...and others seem to be attracting?

Your chart may be true....but this is different.

And to add, that 2689 is seeing classic acuumulation/distribution at this time.
But still that 2620 still bothers me.
Usually these levels left behind in gaps do come up for a test.

 

[orderflow13]

Alex, that area marked in blue, ie, 2585-2595 has now shifted to 2620, around there on account of the prolonged higher levels of NF.

However there is a new area building up at around 2660-2670.

And that level marked in red 2689 is not really letting things go...and others seem to be attracting?

Your chart may be true....but this is different.

ok, so zone range getting tighter, r u looking for consolidation Amit sir ?

 

[AMITBE]

ok, so zone range getting tighter, r u looking for consolidation Amit sir ?

Alex, look to the post I have posted minutes ago:

And to add, that 2689 is seeing classic acuumulation/distribution at this time.
But still that 2620 still bothers me.
Usually these levels left behind in gaps do come up for a test.

Accumulation/distribution....time will tell fully...and this is consolidation.

In the meanwhile the new level come up, 2660-2670 mentioned in a post above has also arrived...and giving a bounce and a play around now.

 

[orderflow13]

excellent..... market is exactly doing same.Glad u started this thread again, good learning experience, must say much needed out of square experience.

 

[AMITBE]

And to add, that 2689 is seeing classic acuumulation/distribution at this time.
But still that 2620 still bothers me.
Usually these levels left behind in gaps do come up for a test.

This 2620, for the sake of tracking, is now placed at 2645 kind of area...and will continue to track this one.

As this got left behind in the gap last night, should this be tested, here or later at a higher level, that would signal the resumption of orderly price action for me.

For the rest, everything else has come and gone.