Technical analysis of nifty intraday charts.

[naga_thetrader]

Hi there,

I have been in traderji for quite some time but mostly as a mute spectator.

I just thought of sharing my way of analysis with those who are new or intermediary level in chart analysis.

I basically trade nifty futures based on the analysis on spot nifty.

I use Pivot Point, trendline analysis, 34 and 100 Period EMA (on 5 minute candle), though i use candle stick, i don't use it much for intraday as it may not give very good results for intraday.

i typically use upto 5 days prior chart for my analysis.

i also use chart patterns such as double bottom, HNS patterns, rectangle, triangles, flags, pennants etc....

even though i don't consider myself as a great analyst, i have been quite successful in trading based on above techniques.

your feedback is most welcome

 

[vssoma]

dear,
welcome....share your views with your analysis.

 

[naga_thetrader]

AS said yesterday, nifty opened at higher band and then corrected.

currently it's trading below the trend line and we advised our clients to hedge their long positions but not to exit their positions as our target for the current rally is around 5350

 

[naga_thetrader]

As said, nifty was weak in the morning and corrected till S1.
Strong european markets and denial of ICICI bank's rumor took the market all the way to R2.

 

[johny]

Technically it was such a confusing day, where the nifty opened flat tested R1, slid all the way to pivot point after the dissappointing report from RIL but bounced from that level only to slide more.
We just couldn't understand the trend the whole day.

:clap: good work bro

 

[naga_thetrader]

Gap opened took the nifty back in major upper trendline.

 

[naga_thetrader]

market opened weak on global cues and corrected upto 2nd support.
bounced from there, it rallied till pivot.

 

[naga_thetrader]

Dear visitor,

I found not many people are interested in this thread.

I am only trying to help those who are interested in learning technical analysis.

as said earlier, i'm not a great analyst, but my way of analysis is giving me decent returns per month.

Depending on the response, I will decide if i need to continue posting the chart analysis here.

thanks and regards..

 

[aryan.]

Dont stop posintg

 

[naga_thetrader]

over the place on fno settlement day. opened high at R1 and crashed to test s1 and bounced to close flat there by made a doji.
today's close is important.