NIFTY 50 future TRENDS

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RSI

Well-Known Member
Sudoku is always so pessimistic :) You want some hope, you will find a chart which agrees with you. Here's today's mini-nifty chart showing a bullish pinbar for tomorrow.

A simple explanation for today's bar would be like this (I have not gone through intraday chart. Comments are solely basing upon your posted chart)

1. Price has been falling and today price opened with a huge gap.

2. Price rallied heavily. But bulls could not sustain the upmove.

3. Price came back where it opened.

4. By the end of the day, it closed near the open.

5. Close was in the lower 1/3 of the day's bar.

6. Overall interpretation of today's bar would be that bulls have not received any support and bears seized this opportunity and by the end of the day bears pushed the price down.

7. BTW, pinbars indicate the possible move in the reverse direction where it is poking.

Hope this helps
 


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This chart shows what I was talking about before when things got too busy round here. As you peer off to the right and see the dissecting TL through the cloud is the 5058 level I was talking about. If in the event price punched up through the kijun at 5014, then it could have headed to the MR1 at 5046. That would have given it a premature date on the other side of the cloud, because of the portion of cloud that was so thin that it would have passed through/ As it turned out, the kijun did contain, and price retraced back to the WR3 at 4953. From here, price action should get consolidative until we hit 5058, and then we should get the big reversal that I have been talking about.
 

VJAY

Well-Known Member
Dear Paul,
Now daily cloud almost looks like too much narrow also looks like trend change...
Whats your views....?



 
6. Overall interpretation of today's bar would be that bulls have not received any support and bears seized this opportunity and by the end of the day bears pushed the price down.

7. BTW, pinbars indicate the possible move in the reverse direction where it is poking.

Hope this helps
Oops.. my bad ...:(
 
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