Nifty analysis

[Self-employedTrader]

Hi @bashasm, welcome. Thank you for asking. Yes i do day trade. I watch Nifty overall trend and trade based on that. But still, my own overconfidence cuts my profits.

 

[bashasm]

Hi @bashasm, welcome. Thank you for asking. Yes i do day trade. I watch Nifty overall trend and trade based on that. But still, my own overconfidence cuts my profits.

Maybe, when you share the chart, all of us can learn together

 

[Self-employedTrader]

it's the same chart as you see @bashasm . i just try to understand nifty direction on daily candles.

 

[Self-employedTrader]

At heights, sometimes if candle opens gap down after a gap-up red doji, the pattern will become like evening star bearish pattern. and it could fall - won't be a huge fall, yes. And budget news surely can drive Nifty and stocks. If opens gap up, most likely will be another indecisive candle, probably green - tricky trades.

 

[Self-employedTrader]

If today's candle doesn't break yesterday's high, the pattern would become like a Falling Three Methods. Then we may be able to see selling upto at least 11690 levels.

 

[Self-employedTrader]

Hi all. Any analysis or thoughts for Nifty movement tomorrow?

 

[traderhardrock]

hmmmm,
I am a tukka chart reader cum trader, so

- A big movement likely for tomorrow
- HiLo spread more than 100, may be around 150 points
- Must hold eod value, (a few -ve points wont matter that much)

 

[Self-employedTrader]

Tomorrow also daily doji most probably. Risky bisky trades.

 

[Self-employedTrader]

If opens neutral, would be bearish. If opens gap up, would be a red doji or inverted hammer.

 

[khurshedmanjra]

NIFTY taking trend line support ?