Incisive Nifty Trend Analysis

[prada]

Guys, Please keep this thread clutter free. Please avoid heated arguments, trade logs and unnecessary posts. Please restrict your posts strictly to analysis only.

 

[Sultaan]

Guys, Please keep this thread clutter free. Please avoid heated arguments, trade logs and unnecessary posts. Please restrict your posts strictly to analysis only.

does feelings count in analysis ? :rofl:

 

[SexyTrader]

does feelings count in analysis ? :rofl:

Feelings/Inference form the foundation of any analysis....

Without inference, the technical data would not mean anything to the best of the experts! :thumb:

 

[sudoku1]

this thread has become a khichdi like many eventually become here as any thread which becomes a little active alll pros come on it.... & the owner has gone underground....luck by chance a fall comes, all will become beserk

2morow is BESERK OBAMA

 

[Sultaan]

2morow is BESERK OBAMA

lol TJ is gonna go beeeserk with told u so's is more scarry than a fall in nifty :rofl:

 

[a1b1trader]

I have exited 5700 CE NOV trade ...and nullified my loss

Hey MP
You exited on the right day.
Rest assured Baliga will not rock on Diwali.
In my opinion, on Diwali, it will be the bottom of the recent 2-4 months.

 

[trade4putuval]

Weekly charts shows overheating of nifty, but looking at the trend, I see a double top formation today. So it is better to be on the sidelines and short when nifty touches the previous top.

Also, if you see the daily chart, you see two gaps,

• between 5645 and 5680
• between 5438 and 5519

This has to be filled before any further upside.

The weekly overheating factor can assure that there is no further upside. If this happens, keep daily tenken sen (5651) as target.

Too late to make a prediction now as Dow jones is already down by 300 points. So what we say need not be taken technically. It will be automatically be treated as a global reaction.

But for the sake of understanding ichimoku, here I go. Please find below the weekly chart of nifty.

• The ichimoku cloud forms on the left side of the candle (past price action) and on the right side of the candle (future price action).
• The cloud is formed by a top band and a lower band. Both the bands act as a resistance or support to the price action* depending on the position of price action* from the cloud.
• Another good point about the left side cloud is that it forms steps along the way. The steps acts as a resistance for the current price action, if the price action* is below and moving upwards. Similarly if the price is moving downwards, the steps acts as support.

* Price action indicates the current daily or weekly or monthly candle.

Looking at yesterday's action, nifty has stopped at a major resistance in weekly (See step formation in image). Looking at daily charts, I see a nearly double top formation. So I see nifty heading down from here.

My positions: 4 lots 5500 puts @ 9.50 average price. Will exit these puts when nifty touches daily tenken, i.e. 5656.

 

[philosuffer]

Useful analysis Trade4. I too agree, I think we are heading down from here and rest of the year looks bearish. Your puts would become multi baggers today. I am looking to take short positions at the open.

 

[Sultaan]

lol, everyone is seeing what they want to see, but 300+ fall in dow & everyone as predicted is ready with shorts & others are averaging their old one... so how will the mkt possibly fall & oblidge everyone ???? u cut loss & see it'll fall immediately

 

[Bewinner]

only what I can see NF have to give a close above 5780 on daily/weekly basis to sustain the upmove or rather going further... if it manage to do then a a good upmove holds...