NIFTY 50 future TRENDS
- Thread starter sudoku1
- Start date
- Status
i would like to thank 4xpipcounter for his wonderful insights and all that have contributed to this thread. i have been following the thread for quiet some time. i am trying to learn the charts, but yes it is definitely rocket science.... keep up the funny ones coming too...no point being serious all the time
Shifazaid, thanks for your kind words. If you knew how much I love this, you would think I'm just plain sick.
This thread has been accompanied by the best clowns at TJ. You never know what's coming next, which makes it fun.
We might even do some trading in the middle of all this.
Heh, heh. My wife just walked in. I got my charts up for my baseball game and the ones for trading, and I'm in this forum talking with you guys, and she, good-naturedly, asks, "Do you do any work?"
She has no idea.
This thread has been accompanied by the best clowns at TJ. You never know what's coming next, which makes it fun.
We might even do some trading in the middle of all this.
Heh, heh. My wife just walked in. I got my charts up for my baseball game and the ones for trading, and I'm in this forum talking with you guys, and she, good-naturedly, asks, "Do you do any work?"
She has no idea.
Life is good. I would not want to be single again.
We are very opposite in many ways. She is life smart. She is the handyman (Now I'm embarrassed.) around the house. At least, I know how to put gas in the car and turn the radio on.
I'm very good with numbers and math, and she has a time adding 2 simple numbers together.
I'll show her on the charts why I enter a trade. This is actually a lot of fun. You can see this glaze that comes over her face. She has no idea what I am talking about.
In spite of her lack of math smarts, she takes care of all the financing and budgeting for our household.
We are very opposite in many ways. She is life smart. She is the handyman (Now I'm embarrassed.) around the house. At least, I know how to put gas in the car and turn the radio on.
I'm very good with numbers and math, and she has a time adding 2 simple numbers together.
I'll show her on the charts why I enter a trade. This is actually a lot of fun. You can see this glaze that comes over her face. She has no idea what I am talking about.
In spite of her lack of math smarts, she takes care of all the financing and budgeting for our household.
Good for you.... btw nice handle 4 times pip. this has to do something with trading right?
and i tried hard at dissecting your analysis today, what you are saying is that in layman terms, we are going to start that journey down right... cause i am long on nifty today at 5166, waiting to get off around 5200, then trying to get the journey back
Imagine that....
and i tried hard at dissecting your analysis today, what you are saying is that in layman terms, we are going to start that journey down right... cause i am long on nifty today at 5166, waiting to get off around 5200, then trying to get the journey back
Imagine that....
I think before we are actually ready to return to the downtrend, your 5200 is forthcoming. For now, it is the top of the 4-hour cloud that is getting teased, and by the time Thursday is 4 hours old, the top will have dropped to 5152. So while price action tries to fight its way out of the cloud, it is temporarily fighting a losing battle. Therefore, we should see a move further south, but after this movement has been finished we should see another return to the UP that should be rather forceful that will hail the complete reversal to the longer term downtrend. The MR1 at 5240 or the top of the descending daily cloud, currently at 5301 will be containment.
It tends to get confusing when markets take on the nature this market is in currently. What started 4 weeks ago was a correction of the longer term downtrend. All down moves were corrections within the correction. Once we hit 5240--5301, then the correction of the whole downtrend should be complete, and then we head lower. Even while heading lower, smaller corrections of that trend will be noticeable.
The depth of the correction and how far it actually corrects is depended on the dominant TF at the time. Right now, it is the hourly and the 4-hour that is saying it is time to head south. The daily and weekly are still indicating I am not through going north. In essence we get a temporary halt to the northward proceedings.
Having said all that, the monthly is thinking I want to head further south, so it is thinking there is a temporary halt to the southern trip.
If we view it in terms of TF's, the hourly and 4-hour are going to create some sideways movement in the market, if not southward. The daily and the weekly still predominate, and so we should be heading further north. Once we hit the containment levels, the daily should be ready for the move south, and even the hourly and 4-hour will agree. The weekly will probably be neutral, so it will have no say which way things go. Therefore between 5240 and 5301, the verdict is out. We head south to 4999 (Oops sorry, Sudoku, I got my 6's turned upside down.), I meant 4666, and most likely, 4592.
BTW, Sudoku, and many others in this thread will agree that even with what is perceived to be the most accurate analysis, some levels are subject to change, and things have a way of changing while on the journey. This also has a lot to do with the type of S or R you are considering, whether it be static, changing static, or dynamic. But, that is a subject for another day.
It tends to get confusing when markets take on the nature this market is in currently. What started 4 weeks ago was a correction of the longer term downtrend. All down moves were corrections within the correction. Once we hit 5240--5301, then the correction of the whole downtrend should be complete, and then we head lower. Even while heading lower, smaller corrections of that trend will be noticeable.
The depth of the correction and how far it actually corrects is depended on the dominant TF at the time. Right now, it is the hourly and the 4-hour that is saying it is time to head south. The daily and weekly are still indicating I am not through going north. In essence we get a temporary halt to the northward proceedings.
Having said all that, the monthly is thinking I want to head further south, so it is thinking there is a temporary halt to the southern trip.
If we view it in terms of TF's, the hourly and 4-hour are going to create some sideways movement in the market, if not southward. The daily and the weekly still predominate, and so we should be heading further north. Once we hit the containment levels, the daily should be ready for the move south, and even the hourly and 4-hour will agree. The weekly will probably be neutral, so it will have no say which way things go. Therefore between 5240 and 5301, the verdict is out. We head south to 4999 (Oops sorry, Sudoku, I got my 6's turned upside down.), I meant 4666, and most likely, 4592.
BTW, Sudoku, and many others in this thread will agree that even with what is perceived to be the most accurate analysis, some levels are subject to change, and things have a way of changing while on the journey. This also has a lot to do with the type of S or R you are considering, whether it be static, changing static, or dynamic. But, that is a subject for another day.
paul,
great insight on the roadmap of nifty.good logic as usual.
the next two weeks should be very interesting,first this week the big guys will be rolling over their positions,normally they do it well before the deadline of last thursday for indian markets.and next week the makeover for the quarter ending of funds nav should begin.
if the biggies want the markets down for the next few weeks then the rollovers should be in the direction of south.
the funds guys would want better nav's and their push would be towards north towards the end of month.after pushing north they will remove the support system.so it is going to be interesting few days ahead
great insight on the roadmap of nifty.good logic as usual.
the next two weeks should be very interesting,first this week the big guys will be rolling over their positions,normally they do it well before the deadline of last thursday for indian markets.and next week the makeover for the quarter ending of funds nav should begin.
if the biggies want the markets down for the next few weeks then the rollovers should be in the direction of south.
the funds guys would want better nav's and their push would be towards north towards the end of month.after pushing north they will remove the support system.so it is going to be interesting few days ahead
- Status
Similar threads
-
NSE Changes Nifty Bank Expiry Day to Friday for Future and Options Contracts
- Started by DreamDeal
- Replies: 11
-
NIFTY/ BANK NIFTY Option Trade Tool (Buy/ Sell) based on Futures / Spot Prices- Started by allex418
- Replies: 7
-
-
-