Nifty Key levels for day traders

[findvikas]

Thanks linkon for showing me that chart... I just reached office and had not opened the chart yet ... just as I saw it I booked out of puts and added calls ... :clap:

 

[findvikas]

target is going to be 4920+

 

[linkon7]

hey 4878 just break shold i go short linkion what do you say

4878..didnt breaK... we need a 5 min bar close below that level...
strong buying came at that level...

we need one side to throw the towel... right now, both are fighting very hard at the extreme...

 

[linkon7]

yes most likely but points are little changed... its a bullish wedge..

isnt point A is supposed to be higher than B
and B higher than C...

In a uptrend, dont we look for W...

still not able to get the hang of WW...

 

[linkon7]

divergence in RSI...

 

[findvikas]

Let's see this one ... its better I created for sharing purpose...

Point 1 was not a perfect 1.. so what we do ... we draw a horizontal line to the point 3 and wherever it hit we assume that as point 1...

Next.. 2,3,4... all we found no problem...

Next point 5 formed it went down the line but how far it can go we dont know, right ? actually we do...

draw a parallel line to 2-4 and let it start from point 3... the shaded area become our entry area and let the volume confirm before entering...


in this case it was indeed with volume and volume made a saucer look.. so we went long and kept the lower line as our Stop Loss...

Simple

 

[findvikas]

so it may fall further and until it broke the below support line we should add longs and not shorts ...

 

[findvikas]

Expect a close around 4910-4920

 

[findvikas]

saw that bounce back... ride the wolf

 

[linkon7]

Let's see this one ... its better I created for sharing purpose...

Point 1 was not a perfect 1.. so what we do ... we draw a horizontal line to the point 3 and wherever it hit we assume that as point 1...

Next.. 2,3,4... all we found no problem...

Next point 5 formed it went down the line but how far it can go we dont know, right ? actually we do...

draw a parallel line to 2-4 and let it start from point 3... the shaded area become our entry area and let the volume confirm before entering...


in this case it was indeed with volume and volume made a saucer look.. so we went long and kept the lower line as our Stop Loss...

Simple

Isnt point 5 supposed to be the starting point of the M or W...
then we work our way back... and then look for symmetry... ratios... etc...