New Intermed Uptrend!!

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,

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.

sir can u make it more clear ????

If gupta.deep is trading following EoD Time Frame then he takes cue from Weekly,so that he never lands up against the Weekly,though few very short duration trades can sometimes be taken in EoD but one should be totally alert that Higher Time Frame is against me.

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

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

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

Saint

Yep,frequently....

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

Saint

RNRL above 109 swings into an intermed uptrend.

Saint

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