Nifty and Indian stocks

[devadas]

DISCLAIMER: These notes/comments have been prepared solely to educate those who are interested in the useful application of Technical Analysis. While due care has been taken in preparing these notes/comments, no responsibility can be or is assumed for any consequences resulting out of acting on them.Trading in Stocks/Commodities/Futures Carry Risk

NIFTY FUTURES ( 5398.25) – 106.65 5291.6

Nifty Futures is entering the Capitulation phase.It is still moving in a downsloping channel. Lower level of the channel is 5306 and Upper level is 5643. One way to trade these channels is to buy with strict stoploss near the lower channel.Wait for it to move inside the channel.Failure to move inside the channels is bearish.

DAILY

 

[ryan4ucar]

DISCLAIMER: These notes/comments have been prepared solely to educate those who are interested in the useful application of Technical Analysis. While due care has been taken in preparing these notes/comments, no responsibility can be or is assumed for any consequences resulting out of acting on them.Trading in Stocks/Commodities/Futures Carry Risk

NIFTY FUTURES ( 5398.25) – 106.65 5291.6

Nifty Futures is entering the Capitulation phase.It is still moving in a downsloping channel. Lower level of the channel is 5306 and Upper level is 5643. One way to trade these channels is to buy with strict stoploss near the lower channel.Wait for it to move inside the channel.Failure to move inside the channels is bearish.

DAILY

you say capitulation has started then you go ahed and suggest to buy against the trend

 

[devadas]

you say capitulation has started then you go ahed and suggest to buy against the trend

Read it clearly,I said buy only if it enters the channel.Also I advised for a strict stop loss.No one can say when "Capitulation" will end.But since Volume has increased on selling, short term pullbacks may be on the cards, if prices enter / close inside the channel.

Hope it helps, feel free to ask any queries if not clear.

 

[ryan4ucar]

Read it clearly,I said buy only if it enters the channel.Also I advised for a strict stop loss.No one can say when "Capitulation" will end.But since Volume has increased on selling, short term pullbacks may be on the cards, if prices enter / close inside the channel.

Hope it helps, feel free to ask any queries if not clear.

all i am saying is you should be advisng shorting when at upper range of channel ,that ways yiou are with the trend

 

[devadas]

DISCLAIMER: These notes/comments have been prepared solely to educate those who are interested in the useful application of Technical Analysis. While due care has been taken in preparing these notes/comments, no responsibility can be or is assumed for any consequences resulting out of acting on them.Trading in Stocks/Commodities/Futures Carry Risk.

NIFTY FUTURES 5414.3 + 122.7 ( 5291.6 )

Yesterday I said, that one can go long near the lower channel.And today you see, Nifty Futures moved up by 122 points.Yesterday Nifty Futures, mostly made a Last Engulfing black Candle Pattern .This will be confirmed, if it closes above 5498.70.Also today Nifty Futures made a Piercing Candlestick Pattern, thus reinforcing the bullish scenario.Though Piercing Pattern is not a very solid bullish pattern, longs should be protected by a StopLoss on closing basis below 5250.Target for the longs is the Upper Double Channel , green line, marked 6, the values for which are for tomorrow 5693, for Monday 5669, and Tuesday 5646.The values are decreasing since it is a Falling Channel.

This is the Characteristic of a Capitulation where, because of heavy volumes on selling, an imbalance is created and Violent Bullish candle is created.This happens, when the LAST SELLER has SOLD.

Mind a move below 5250 is bearish.

NIFTY FUTURES DAILY

 

[ryan4ucar]

DISCLAIMER: These notes/comments have been prepared solely to educate those who are interested in the useful application of Technical Analysis. While due care has been taken in preparing these notes/comments, no responsibility can be or is assumed for any consequences resulting out of acting on them.Trading in Stocks/Commodities/Futures Carry Risk.

NIFTY FUTURES 5414.3 + 122.7 ( 5291.6 )

Yesterday I said, that one can go long near the lower channel.And today you see, Nifty Futures moved up by 122 points.Yesterday Nifty Futures, mostly made a Last Engulfing black Candle Pattern .This will be confirmed, if it closes above 5498.70.Also today Nifty Futures made a Piercing Candlestick Pattern, thus reinforcing the bullish scenario.Though Piercing Pattern is not a very solid bullish pattern, longs should be protected by a StopLoss on closing basis below 5250.Target for the longs is the Upper Double Channel , green line, marked 6, the values for which are for tomorrow 5693, for Monday 5669, and Tuesday 5646.The values are decreasing since it is a Falling Channel.

This is the Characteristic of a Capitulation where, because of heavy volumes on selling, an imbalance is created and Violent Bullish candle is created.This happens, when the LAST SELLER has SOLD.

Mind a move below 5250 is bearish.

NIFTY FUTURES DAILY

so did you go long yesterday?

 

[a1b1trader]

so did you go long yesterday?

Dont know about him, but I did go long yesterday before EOD

 

[devadas]

MY NEXT POST WILL BE ON 1 ST SEPTEMBER

DISCLAIMER: These notes/comments have been prepared solely to educate those who are interested in the useful application of Technical Analysis. While due care has been taken in preparing these notes/comments, no responsibility can be or is assumed for any consequences resulting out of acting on them.Trading in Stocks/Commodities/Futures Carry Risk.

NIFTY FUTURES 5460.7 +46.40 5414.30

Nifty Futures is moving in a down sloping channel and is trying to touch the upper green Channel line.Some hurdles on the way up will be 5499 the top of the Last engulfing black candle, 5609 which is 50 % level of another big Black Candle and finally it may reach 5725 which is the top of the previous Big Black Candle.Big Black candles are areas of resistance.

The upper channel levels are for Monday 5669, Tuesday 5646, Wednesday 5623, Thursday 5600 and Friday 5577 .

On Weekly Charts it has formed a very Big Hammer with volumes .5480 — 5555 is the Bull Bear Zone.A weekly close above 5555 may stall the downtrend for the time being.Weekly close below 5480 will again provide Bears the upper hand.

Any Daily Close below 5250 will be Bearish.

DAILY

WEEKLY

 

[devadas]

TWO QUERIES


I received 2 queries for my post in my Blog :

Q) What will happen if NIFTY FUTURES closes above green line with volumes ?

A) Add 300 points to that day’s level which I have mentioned.Say if Nifty Fut closes above 5646 on Tuesday,the level for Tuesday, add approximately 300 points to it so target will be 6000 approx.But close above the green line has to be with volumes and it should stay above it for 2 days.

Q) What if it does not touch the Green Line ?

A) If it does not touch the green line, see from where it is reversing i.e see resistance levels mentioned by me.The levels of resistance given by me are 5499 ,5555, 5609 and 5725 the Big Black Candles or Wide Range Bars.So if Nifty Fut cannot close above those levels, then chances of it coming down are likely.So below 5480 is the 1 st level from which bearishness may start and then 5250.

 

[devadas]

NIFTY FUTURES (5416.75 ) + 40 5456.75

The Nifty Futures is still moving in a downward channel.On daily charts “Three White Soldiers” like pattern has appeared. I would have loved to see the middle candle of the 3 White soldiers to be bigger and accompanied by volumes.Nevertheless, wait and watch as to how it reacts to resistances at 5527 and 5759.

The Weekly Chart has shown two “Takuri Lines” side by side which are indicating that there is buying at lower levels.”Takuri Lines” are similar to Hammer, the only difference being the tail is more than 3 times the body.The Upward resistance is the Neckline of the Shoulder Head Shoulder Pattern at 5555.A weekly close above 5555 “may” arrest the downtrend for the time being. I am not very bullish because the Neckline has been broken to the down side for two consecutive weeks.

DAILY CHARTS

WEEKLY CHARTS