New Intermed Uptrend!!

Saint · #**4361** 25th August 2008, 10:19 AM

Quote:

Originally Posted by gupta.deep

Hi Saint,

I have attached two charts here - Nifty Weekly & Daily. I notice that on weekly, nifty has made a lower top and started its downtrend, however on daily, it seems to have made a higher low.

I am confused at what is the trend in Nifty now and which side an entry can be made. Please suggest if I am not able to see any important thing or missing the correct pivot points.

Regards,

Hi Deep,

Not wrong at all,my friend.....Yes,the weekly is in a downtrend which it has been for more than 6 months now.The Daily has been in an uptrend from July.

There are two types of trades here:

a.Look at the Daily charts alone,and trade off the pivots from the Daily charts..........NIFTY is in a short term uptrend and an intermediate downtrend.Meaning take what you get.......a break of pivots and you are out of that trade!

b.You are an Intermediate Uptrend trader ,and take your signals from the daily charts looking at the direction of the weekly charts........NIFTY is in an intermediate downtrend.Means you stay away till it changes into an intermediate uptrend.Till then you are not interested in trading the NIFTY.

All the best!
Saint

Saint · #**4362** 25th August 2008, 10:21 AM

Quote:

Originally Posted by uasish

As Saint always taught us,when trading in a particular Time Frame,take cue from the Higher Time Frame & when both are in same direction nothing like it.

Ah....asked and answered already.Thanks Asish......yep,nothing beats having all time frames in line firing on all cylinders.

Saint

Saint · #**4363** 25th August 2008, 10:24 AM

Quote:

Originally Posted by gupta.deep

Thanks Ashish!

So the message is: To increase the probability wait till both the timeframe signal the same thing.

The other intention of my query was that how long can the shorter time frame remain divergent to the next higher timeframe, and does this occur frequently?

Regards

Yep,frequently....

The latest pivot on the NIFTY Spot Weekly is 4649.85,above that we are in Intermed Uptrend territory.

Saint

Saint · #**4364** 25th August 2008, 10:33 AM

RNRL above 109 swings into an intermed uptrend.

Saint

Saint · #**4365** 25th August 2008, 10:36 AM

Once we get ourselves an intermediate uptrend,this thread springs back into action..........but this time around,the focus is on a group of stocks and questions and answers regarding the positional trades.

Saint

sandeep721 · #**4366** 26th August 2008, 08:39 AM

Dear Saint

I think gtoffshore has broken out into an intermed uptrend on 25/8/2008 with good volumes. I am attaching the chart. I would appreciate if you could have a look and confirm the same. Thanks a lot

Sandeep

nick721156 · #**4367** 26th August 2008, 11:45 PM

Quote:

Originally Posted by sandeep721

Dear Saint

I think gtoffshore has broken out into an intermed uptrend on 25/8/2008 with good volumes. I am attaching the chart. I would appreciate if you could have a look and confirm the same. Thanks a lot

Sandeep

dear friend,

though the question is aimed at saint, i am giving my views. rightly the chart is giving indication of an uptrend as higher pivot low has formed and subsequent WRB has broken up the previous pivot high. however, considering the broader market behaviour, it is better to wait till it makes another higher pivot low before taking position.

saint, requested to give your views too. we all wait for your valuable replies.

regards,

nick

columbus · #**4368** 26th August 2008, 11:53 PM

Quote:

Originally Posted by nick721156

dear friend,

though the question is aimed at saint, i am giving my views. rightly the chart is giving indication of an uptrend as higher pivot low has formed and subsequent
..............

GTOFFSHORE appears to be on UPMOVE.

GauravC · #**4369** 5th September 2008, 12:37 PM

ok , so this is where I should have posted my query on punjlloyd .. what would a good entry level be for a short term trade ?

Saint · #**4370** 5th September 2008, 12:51 PM

Quote:

Originally Posted by GauravC

ok , so this is where I should have posted my query on punjlloyd .. what would a good entry level be for a short term trade ?

Wait and watch mode on PUNJ LLOYD for now...........time for short term trades looking at higher time frame is not yet here.We are talking trading a time frame and trading trends,that is.

If looking for an answer abt fundamentals and company earnings and all that,then not in the right thread.

Saint

Similar Threads for: New Intermed Uptrend!!
Thread	Thread Starter	Forum	Replies	Last Post
Bank Stocks beginning NEW INTERMEDIATE UPTREND	Traderji	Position Trading Stocks	73	11th July 2005 09:33 AM
PSU Bank Stock Break out to begin new uptrend	TATrader	Current Affairs	1	26th February 2005 10:16 AM
New Intermediate Uptrend	TradersEdge	Position Trading Stocks	6	16th November 2004 02:26 PM
BPCL breaksout to begin new intermediate uptrend	Traderji	Stocks & Shares	5	11th November 2004 10:08 AM
NSE Nifty - New Intermediate Uptrend ??	Traderji	Position Trading Stocks	11	11th August 2004 04:02 PM

The Following 4 Users Say Thank You to Saint For This Useful Post:
Anupama Singh (25th August 2008), Dhanya (25th August 2008), rkkarnani (25th August 2008), shashank (27th August 2008)

The Following User Says Thank You to Saint For This Useful Post:
shashank (27th August 2008)

The Following 6 Users Say Thank You to Saint For This Useful Post:
Anupama Singh (25th August 2008), avijit_das (25th August 2008), Dhanya (25th August 2008), Satyen (25th August 2008), shashank (27th August 2008), vats (25th August 2008)

The Following User Says Thank You to nick721156 For This Useful Post:
sandeep721 (27th August 2008)

The Following 2 Users Say Thank You to Saint For This Useful Post:
HIREC805 (3rd November 2008), shashank (6th September 2008)