Help me decide direction of Index

[prasham]

Hi,


I have started learning a new trading system and the first step is to have an idea of which side the index may go in next few weeks. Don't need precise data just an estimate of whether the market is bullish / bearish or neutral is sufficient. It will be beneficial if I can find the magnitude of the move but direction of move too will be sufficient.

Open Interest in Nifty options are one way to have an estimate another is Put Call Ratio. What other indicators can forecast the direction of market.

Please help.

 

[prasham]

I have started learning the resultant effects of Open Interest and the change in open interest of options chain. They say it can not only give your the range of broader market but also hint at the direction in which market will move.

Another thing that I am observing is EMA chart and its evaluation. 8 day / 100 day & 200 day charts give short, medium and long term trend of the market.

Which are other easily understandable indicators that can be used to predict the market trend?

 

[primitivetrader]

price action knowledge and volume analysis are only 2 leading indicators rest all art lagging in telling wht the mkt is doing or about to do. both of them are not easy to understand u need to invest considerable amount of time and effort to learn it.

 

[prasham]

price action knowledge and volume analysis are only 2 leading indicators rest all art lagging in telling wht the mkt is doing or about to do. both of them are not easy to understand u need to invest considerable amount of time and effort to learn it.

Thanks for the detailed reply. Actually I am looking for some simple indicator that can be validated in moments and action can be taken on basis of its observation. Neither volume analysis nor price action are my cup of tea.