Time To Stick My Neck Out "Nifty 5000"

[uasish]

So Nifty Fut's Low is 10 points above our pre-mkt level ,& once again another almost 100 points gain.Reading less of Newspaper & breaking heads on 'Sub-Prime Mortgage' / $ Yen was detrimental than looking in the Charts.

 

[amitt29]

Gr8 call uasish sir (pun intended).

 

[uasish]

Thks Amit.

 

[rajaram.dilipkumar]

Rajaram.dilipkumar,
In RCOM Fut ,now i see a Buy Signal (developed yesterday night ),however my another indicator developed on 18th April'07,is giving a price probability of 526.52 in the weekly chart ,(though the back test of this one has only 68% chance with high max drawdown of 17.8 % ,hence i avoid).
But the indicator no. 269 is backtested (only on historical data not on actual mkt has encouraging result).
As you have observed that the candle stick pattern is in your favour hence with my statistical input this can now be concluded that you may sleep well with Strict Stop Loss .

Asish

thanks , as u pointed out today rcom hit a high of 526.......but unfortunately i booked partial quantity at 515 itself(bought at 487).....holding for 550 (fib 66% retracement level).....the best thing abt candle analysis is the reversal patterns which helps me a great deal .I will update in this post on RCOM charts after uploading EOD data.

 

[rajaram.dilipkumar]

RCOM charts showing three inside up candle pattern which is a confirmation of the bullish harami pattern which was visible on 24th aug which i posted earlier............this looks good for more.

 

[uasish]

Nifty Fut has to close above 4302.87 .
Support is little lower at 4244.90 &
This move may get Resistance at 4369.

 

[kkseal]

14890 a barrier.

 

[uasish]

I have slghtly revised my Resistance for Nifty Fut today to 4355.35 ,becoz the down sloping Trendline meets nifty fut at that point.
The Support is at 4244.90.

 

[uasish]

To-day in Nifty Fut i will watch out the price points of 'Bear's LOC' & what 'Markov Chain' is telling us.

 

[uasish]

Nifty Fut 4244.90 has a minor support.