Nifty Futures Trading Part 2 (Positional)

[learn2trade08]

btw talking of Symmetrical triangles,looks like we are in the early stages of one on the weekly provided it respects the upper tl next week(that is making a lower high)...this would again support a bd...
all the best

 

[Sunil]

Interesting info sourced from the world wide web:

 

[columbus]

Interesting info sourced from the world wide web:

Earlier 2900 level which used to be resistance turned out to be SUPPORT.
DMA-10,15,20 which used to be below DMA-25 ,moved ABOVE.
DMA-50,100 are converging ,with DMA-100 falling rapidly with more or less
STATIC DMA-50 in the range 2850~2900.

 

[praveen taneja]

Dear P kamalesh

Now this support line will be secondary & it is correct but primary trend support line will be as said earlier . Theoriticaly this rising wedge not validate with secondary support due to different conditions. So, major trend will not be change untill primary support starting point hold in price channel. Temporary mkt will retrace for correction due to overbought condition which told me in the short term chart but no evidence till not developed in al charts that mkt will change direction. Forget this rising wedge, this type of formation occoured frequently in the short term . For major trend change in bear market rally required 3-6 months data to form validate rising wedge & that has been developing. So, medium term mkt will test oct low.

Hope, i clarify my views & acceptence & appreciation is your personal sentiment and change your view frequently will hurt others. If i want my reputation point beyond 2000 that will be made within 7 days but i feel & beleive reputation point is not my criteria.

Thanks

Pra

So far it is very good thread and you are requested to please avoid this hopelessly useless statements in ur posts
All come here to read and learn and off course earn
All the seniors share there views that might b wrong from someones point of view u can ask or tell politely that I think this might b This according to me
Hope you understand wat I am requesting to u
God bless u

 

[Czar]

Praveen the logic is simple... if someone says he can get 2000 reps in 10 days but does not want... means he does not want to share anything... which is basically what TJ is not about...

 

[Czar]

If we dont cover todays gap we are looking for an island reversal.... as someone already mentioned...

 

[Czar]

the daily triangle bottom TL is approx 2835 spot...

 

[learn2trade08]

talking of a island reversal,thought of sharing a chart with an island reversal for rest of the folks....

If we dont cover todays gap we are looking for an island reversal.... as someone already mentioned...

 

[Czar]

Hourly chart:

PS: Kotak is the biggest chamcha of Congress... what ever the budget its always good acc to him

 

[mahesh2007]

Thanks Mahesh for writing your view. You said, "one boundary line being upslanting and the another one downslanting is not a pennant but a triangle", I think there are very minor difference and people judge them by their knowledge and experience. Please refer below from John J. Murphy's Technical Analysis Of The Financial Markets book. This example has one boundary line upslanting and the other downslanting and is he calls it a pennant.

Kiran

Kiran

i was not clear in the post.
As u had written 'flag & pennant' in your chart , I tried to differentiate them.
flag has parallel while pennat has coverging boundries.

i said that a triangle because of the size.
Pennants and flags are relatively smaller continuation patterns than triangles.

Pennants show consolidation before the resuming of the previous trend.

hope it helps.