Nifty Futures Trading Part 2 (Positional)

[kiranb]

Hi,

This chart shows Flag and Pennant analysis in LT. Please let me know your views.

Kiran

 

[faith]

Nifty is moving side ways now, do we get Break out or Break down ?

We can see both Bullish patten Flag and a bearish patten descending triangle in nifty now.

Can a descending triangle act like a pennant ??

kiranb ,can you post this chart again with white background please
faith

 

[Czar]

Flag is the most deceptive pattern as after a big rise it fools traders by giving lower pivots, breaking stops 3 times... but usually as we saw in my previous post it does'nt break down more than 50% of the flag... thus around 2850 is the key as mentioned earlier... & approx 200 points means 3050 & 3076 is where the 100 DMA lies which nifty is eager to kiss since sept 08.

 

[kiranb]

kiranb ,can you post this chart again with white background please
faith

Here is your white background chart

http://img502.imageshack.us/img502/3156/ltflagwhitetj1.png

kiran

 

[MurAtt]

Re LT Pennant/Flag BO, its already BO, cmp 699.
Now to watch for volumes, they should be pretty much higher than what was in the Flag/Pennant to confirm BO.

Kiran can you post the LT chart after BO with volumes.

 

[pkamalesh]

 

[orderflow13]

nice posts kiran, keep it up, on last day of week, weekly chart is must for positional traders
cz..feeling great this time around we r not the minority who only posts charts...must say quality of this thread is increasing with new guys started posting charts, few months back i remember sat da was requesting other members to post charts as well, belated but corrected

 

[Czar]

Besides the 2 blips, weekly has maintained this triangle...

now another blip beginning on upside...

 

[the tape]

weakness..

 

[pkamalesh]

Czar so can we confirm the BO now???