Lets me try to forecast short-term nifty trend...

Hi All,

I am trying to find the short-term trend/trend-reversal of nifty based on rsi/stochastics(for now ). The idea is to help positional trading in nifty-future. I am not the expert in using these indicators and just trying to see whether any past patters of these indicators charts helps now in making decision rather than finding patterns in the price charts.

I am starting thread just to express my views and to get some advice/corrections from the experts whenever i make mistakes.

This is not the trading system. Its simply an experiment which might last long or might get stopped sooner also if it doesn't worth it. These decisions will be made as the time progresses.

My posts wont be on daily basis and only when the indicators indicates something which i understand.

Thanks,
...summasumma

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Nifty might close RED tomorrow ...
This view is based on the full_stochastics oscillators on nifty daily chart.

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Both stochastic indicators below RSI ?? The first time I heard that observation being used. Sounds interesting. Can you please elaborate on it.

The green line is fast moving stoch and blue is the slow moving stoch... i am just trying to see whether the trading based on these 2 stoch cross-over with rsi line will be profitable or not...
when we use the slow stoch alone there are lot of whipsaws... and when we use the fast stoch alone, we miss some good entries/profits... so just trying to experiment the combination...
Assumption here is that, when stoch above rsi, market gains +ve trend and below rsi its -ve trend...

Todays update:
Nifty closed RED as per yesterdays view. Today again stoch oscillator are in negative zone and expect nifty to close RED again in next trading session and the oscillators enter over-sold area(below 20)...lets see...

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Todays View:
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Again Nifty closed RED as per yesterday's view and the oscillators entered oversold region(below 20) @ close today.
Now, trend for few more trading days(3-4) is also expected to be negative. lets see...

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Todays view:

The oscillators entered oversold region and been there for a while as we discussed last time. Now unless fast oscillator makes a big move, trend is negative...

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Requestig admin to close this thread as i am not able to actively participate/update this section.