Any Nifty analyst would have calculated the 50% retrenchment from 6357.1(08-01-08) to 2252.75(27-10-08) as 4305. I had expected, as any half-baked analyst would, and assumed that nifty would not cross 4305.(The last down-run to 2252.75 was one-way single run from 4303.25(22-09-08))
But as we have it, from the high of 3717.05(06-05-09, the wonderful election win) we straight touched 4509.4 in 15 or so trading minutes. So what happened to 4305???
Well, the first low after 4509.4(19-05-09) was 4092.25 (26-05-09) and the 50% average was... guess what... 4300!
The next high peak was 4693.2 (12-06-09) and the lowest point since then till date was 3918.75(13-07-09) and the 50% average...yeah you get my drift 4306..... With every high the bottom of the fall averages to 4305. BUT
So when the market tested 5181.95(20-10-09)... trying to emulate the same formula,I was expecting nifty to pamper 3428.05, but it didn't...:annoyed: it reversed from 4538.5(03-11-09) (ie. average of 4860)
So I thought, well the love affair may be through.
But was it??? Ahhh the time will tell....
But look at this interesting move.... Just the previous low was 4806.7(27-11-09), we have had a hard time crossing 5310.85(06-01-10). It just so happens that 4806.7 is EXACTLY half-way between 5310.85 and 4301(Yes again).[for those following the minute charts will see that the december series started with a gap-down on 27-11-09 at 4860!!]...
[from 06-01-10 to 20-01-10 the consecutive highs in series 5302.55,5276.75,5287.20,5300.50,5239.20,5272.85,5279.85,5292.50,5287.80,5256.70]
So, considering that oogway said to shifu, "There are no accidents, my friend". I am trying to read more into this.....
So, you nifty-lovers out there... help me make some sense of this...
Disclaimer: I am a "budding" mathamatical analyst. I have not budded yet. If you trade based on these discussions, and you lose money, that your problem buddy. If you do trade AND make money based on these discussions, you owe me a dinner ;o)
But as we have it, from the high of 3717.05(06-05-09, the wonderful election win) we straight touched 4509.4 in 15 or so trading minutes. So what happened to 4305???
Well, the first low after 4509.4(19-05-09) was 4092.25 (26-05-09) and the 50% average was... guess what... 4300!
The next high peak was 4693.2 (12-06-09) and the lowest point since then till date was 3918.75(13-07-09) and the 50% average...yeah you get my drift 4306..... With every high the bottom of the fall averages to 4305. BUT
So when the market tested 5181.95(20-10-09)... trying to emulate the same formula,I was expecting nifty to pamper 3428.05, but it didn't...:annoyed: it reversed from 4538.5(03-11-09) (ie. average of 4860)
So I thought, well the love affair may be through.
But was it??? Ahhh the time will tell....But look at this interesting move.... Just the previous low was 4806.7(27-11-09), we have had a hard time crossing 5310.85(06-01-10). It just so happens that 4806.7 is EXACTLY half-way between 5310.85 and 4301
(Yes again).[for those following the minute charts will see that the december series started with a gap-down on 27-11-09 at 4860!!]...[from 06-01-10 to 20-01-10 the consecutive highs in series 5302.55,5276.75,5287.20,5300.50,5239.20,5272.85,5279.85,5292.50,5287.80,5256.70]
So, considering that oogway said to shifu, "There are no accidents, my friend". I am trying to read more into this.....
So, you nifty-lovers out there... help me make some sense of this...
Disclaimer: I am a "budding" mathamatical analyst. I have not budded yet. If you trade based on these discussions, and you lose money, that your problem buddy. If you do trade AND make money based on these discussions, you owe me a dinner ;o)
