Day Trading Stocks & Futures
- Thread starter TraderRavi
- Start date
- Tags banknifty bnf daytrading nifty future
Nifty Monthly Analysis
1. Nifty Monthly With 10 SMA Low & 10 Period RSI Last Month #NIFTY Tested 10SMA Plotted On Monthly Lows After Hitting RSI Overbought Zone of 70 This Combination of RSI OverBought & Testing 10SMA Low Has Happened 8 Times Previously
2. Current One is 9th Such Instance. Out of Previous 8 Instances, 6 Have Resulted in Prolonged Correction of Minimum 12 Months on Index. Only 2 Instances Resulted in Nifty Making New High. Those Were 2004 & 2006 When Nifty was in Massive Bull Run
3. Are There Any Differntiator between Those 2 Instances & Remaining. MACD Provides The Clue. In 2004 & 2006 Corrections, MACD Was Still In Buying Mode. In All Other Instances, MACD Was in Sell Mode, Except 2000, Where it turned to Sell Mode Subsequently
4. What Is The Present Status of MACD? It Has Given Sell Signal Last Month. Considering MACD, There Have Been 5 Instances Of This Combination of a. RSI Overbought b. MACD Sell Signal c. Test of 10 SMA Low
All 5 Instances Have Resulted in Prolonged Correction
5. This is 6th Such Instance of This MACD+RSI+SMA Combination.
Will History Repeat Itself? Obviously, This Combo can Fail. Time Will tell, But There is Enough Indication of Precuation For Next 1 Year, Despite Large Sell-Off in Broader Market. Markets Can Fall Further
6. When This View Will Be Negated? Generally, Market Conquers ATH When It is able to Close Above 10SMA Of Highs. That Level as of Today is 11075. So Bulls Have To Conquer Those Levels 11100-200 For ATH Probabilities. Till then, We live in Shadow & Prospect of More Pain
1. Nifty Monthly With 10 SMA Low & 10 Period RSI Last Month #NIFTY Tested 10SMA Plotted On Monthly Lows After Hitting RSI Overbought Zone of 70 This Combination of RSI OverBought & Testing 10SMA Low Has Happened 8 Times Previously
2. Current One is 9th Such Instance. Out of Previous 8 Instances, 6 Have Resulted in Prolonged Correction of Minimum 12 Months on Index. Only 2 Instances Resulted in Nifty Making New High. Those Were 2004 & 2006 When Nifty was in Massive Bull Run
3. Are There Any Differntiator between Those 2 Instances & Remaining. MACD Provides The Clue. In 2004 & 2006 Corrections, MACD Was Still In Buying Mode. In All Other Instances, MACD Was in Sell Mode, Except 2000, Where it turned to Sell Mode Subsequently
4. What Is The Present Status of MACD? It Has Given Sell Signal Last Month. Considering MACD, There Have Been 5 Instances Of This Combination of a. RSI Overbought b. MACD Sell Signal c. Test of 10 SMA Low
All 5 Instances Have Resulted in Prolonged Correction
5. This is 6th Such Instance of This MACD+RSI+SMA Combination.
Will History Repeat Itself? Obviously, This Combo can Fail. Time Will tell, But There is Enough Indication of Precuation For Next 1 Year, Despite Large Sell-Off in Broader Market. Markets Can Fall Further
6. When This View Will Be Negated? Generally, Market Conquers ATH When It is able to Close Above 10SMA Of Highs. That Level as of Today is 11075. So Bulls Have To Conquer Those Levels 11100-200 For ATH Probabilities. Till then, We live in Shadow & Prospect of More Pain
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