Nifty Intraday Pivot Points

[manoharpillai]

Thank you very much for such a good analysis, if i understood correctly the range for the coming week can be 5521 --- 5756 break down or up can be a triger

 

[4xpipcounter]

Manoharpillai, first of all, welcome to Traderji. I noticed you have been on board about one month with the 8 posts.

Respectfully, no that is not what the analysis means. 5756 will probably be hit, but it will not be hit this week. The week is going to start going south. So, if anything that is your signal. If I was trading this market (FYI, I only trade forex.), I would be short at current level, and would have a target at 5521 or a little higher (just to guarantee my target gets hit.
Secondly, 5521 is a hope that it will contain, because that way it will be a straight shot through the top of the cloud, and then by next week 5756 could very well be hit. Where projected containment is and needs to be is 5441, which is the bottom of the daily cloud.

Feel free to ask more questions if it needs further clarification.

Thank you very much for such a good analysis, if i understood correctly the range for the coming week can be 5521 --- 5756 break down or up can be a triger

 

[ashwani chadha]

Manoharpillai, first of all, welcome to Traderji. I noticed you have been on board about one month with the 8 posts.

Respectfully, no that is not what the analysis means. 5756 will probably be hit, but it will not be hit this week. The week is going to start going south. So, if anything that is your signal. If I was trading this market (FYI, I only trade forex.), I would be short at current level, and would have a target at 5521 or a little higher (just to guarantee my target gets hit.
Secondly, 5521 is a hope that it will contain, because that way it will be a straight shot through the top of the cloud, and then by next week 5756 could very well be hit. Where projected containment is and needs to be is 5441, which is the bottom of the daily cloud.

Feel free to ask more questions if it needs further clarification.

thanks for your clear and so confident view

 

[ashwani chadha]

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There are some things that are going to be interesting to look for in upcoming price action. With Friday's movement, it is my opinion price action has lost interest in the upside Momentum is starting to bare down on the downside, and the monthly chart is about to have its way with things.

The 4-hour chart shows that price action got stopped dead in its tracks at the bottom of the cloud. What we should see to start the week is a slight bounce off the bottom of the cloud, and move towards the WR1 at 5426. There was so much effort exerted to get in the cloud, and the effort to stay in it, and then it barely peeked out of it, I think it has given up, and once there is a close through the bottom of it, whatever the peak was, that should be it for the week.
For future price action, the important thing to take note of is that TL that was drawn off both the 4-hour and daily charts. That aligns in the circa 5300 area, which also aligns with the bottom of the weekly cloud. That would represent a very strong confluence of support. We could even allow for a spike through that area in order for the WS2 at 5281 to be hit. Afterward, we should see some sideways action. What will happen, eventually, is a very sharp and convincing move through that point, and then the TL will act as R.
It's safe to say that this week, the WS2 will be containment as 5281.

dear paul,
thanks for the above clarification on nifty,one more clarification ,in india market open 6.5 hour. is your first bar is of 4-hour every day and second 2.5 hour?in your above chart thanks in advance

 

[4xpipcounter]

First, from your previous post, you are welcome.

Second, I was just going over the charts and noticing that my personal S&R's were not as accurate as I would like them to be, and was wondering if the candle setup, as you mentioned, had something to do with that, because the 2nd candle on each day is in fact 2 1/2 hours long. My software seem to have plotted my S&R's better than the actual configuration, so I have been busy accommodating a formula that will be sufficient for Nifty. They have still worked better than the average, but I want them to be almost perfect.
BTW, as per your previous post, my view on Nifty reversing to begin the week does come with very high confidence because of all the evidence. Also, not when there are times I am not as confident. It's because the markets, at that time, do not present a well-defined directional purpose, and so my statements are always something like, "If this happens than that will, but if that does not happen, then this over here might."
That kind of thing will happen in sideways markets. After all, you can never be absolutely positive every hour of hour day. That's why I only have 85% winning trades. It's because I mess up 15% of the time.

dear paul,
thanks for the above clarification on nifty,one more clarification ,in india market open 6.5 hour. is your first bar is of 4-hour every day and second 2.5 hour?in your above chart thanks in advance

 

[4xpipcounter]

Ashwani, I thought I answered this question, then I got sidetracked, and never got back to it. You reminded me in the other thread.
But, yes, you're right. My charts are 4 and 2 1/2.

dear paul,
thanks for the above clarification on nifty,one more clarification ,in india market open 6.5 hour. is your first bar is of 4-hour every day and second 2.5 hour?in your above chart thanks in advance

 

[manoharpillai]

Manoharpillai, first of all, welcome to Traderji. I noticed you have been on board about one month with the 8 posts.

Respectfully, no that is not what the analysis means. 5756 will probably be hit, but it will not be hit this week. The week is going to start going south. So, if anything that is your signal. If I was trading this market (FYI, I only trade forex.), I would be short at current level, and would have a target at 5521 or a little higher (just to guarantee my target gets hit.
Secondly, 5521 is a hope that it will contain, because that way it will be a straight shot through the top of the cloud, and then by next week 5756 could very well be hit. Where projected containment is and needs to be is 5441, which is the bottom of the daily cloud.

Feel free to ask more questions if it needs further clarification.

Thank u i just start2 study Ichimoku n now i cud be able2 understand ur analysis looking forward 2read such an accurate chart analysis from u.

 

[4xpipcounter]

I put off posting the weeklies this week, because I was waiting for action to begin this week and looking at the correlation between my actual calculations, and the way the software plots them on the chart. I have been noticing a bit of a difference in their overall interactions, and I am wondering if this time the software is one up on me. So, until further notice, I am going to post my regular set and the set as graphed on my the software. I will call the one graphed on by the software my "A" levels.
I'll post a chart to show you exactly what I am talking about as far as the need for them to be precise. I know I have gotten many thanks via PM and openly concerning the S&R's, and that is appreciated, but understand me need for them to be extremely precise, as you will see on the chart I post after I do an update for Tuesday"

"A" levels--6024, 5853, 5762, 5579, 5487, 5314

6024, 5864, 5767, 5574, 5477, 5317

 

[4xpipcounter]

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There is still much evidence of a strong and imminent reversal. The daily, along with the extreme OB condition on the 4-hour are the main indicators right now. The candle, as you can tell by the daily chart, has snuck its head out of the cloud. It is only 13 points out of the cloud. This could be racked up to a headfake. That being the case, then it will be obvious, we will head south on Tuesday.
The other thing to look for is the next objective, which is the weekly kijun at 5756. There is still enough thrust left in the weekly to push it to that point.
If the weekly kijun gets hit, then one of two things will happen, and that is assuming we got a headfake, only, out of the cloud. Price action could shoot up there on Tuesday, and then we get a strong reversal that will have to send the price back under 5687 (there's that number again). The other way to go is to being with the reversal that takes price down to the proximity of the S2, which at this point, is 5477 or 5487. The daily kijun is 5457, so the S2 levels would hope to contain in order to keep the price above the kijun. Afterward, we get the thrust north towards 5756. As we go, we'll have a better idea on how things will go. Also keep in mind, it is rare to have 2 of my weekly levels reached in one day, so obviously, I'm not saying the S2 will be hit on Tuesday.
The best obviation we have at this point is there is going to be a strong reversal around the corner.
LOL, I do have to keep in mind I only have a little more than 1 1/2 4-hour candles to look at per day, as supposed to the normal 6 in forex. This has also been a good learning experience for me, so thanks for your support.

I changed the look on my chart, because I got tired of looking at the other one. I also added a SD channel which shows up better on with this color background.

You'll notice the RSI is plotted on my charts. I hardly ever reference, because I don't really use it. I am just studying it for now. It still does not jazz me, but I did use it today in a GBP/AUD long that I had and came out pretty good. It was used as a confluence, and I believe I would have still entered the trade without it. so it still did not serve a purpose.

 

[4xpipcounter]

You're welcome. I hope the ichimoku serves you well.

Thank u i just start2 study Ichimoku n now i cud be able2 understand ur analysis looking forward 2read such an accurate chart analysis from u.