Nifty Entry ,Exit ,Target levels with Median Line Charts
- Thread starter Kavima
- Start date
- Tags median lines nifty levels nifty targets pitchforks trading strategy
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11.05.2011 30 min Charts
Price did not drop below yesterdays low,instead moved in a range for most of the day and reached 5565 level at close.Price moved out of the red median line set drawn on yesterdays price bars , but has not moved beyond the major Red median line showing the stiff resistance at 5560-5600 levels.
What next?
To project the next move drawn the blue Andrews pitchfork and Majenta Schiff median line.The price has "walked along the Lower blue median line parallel indicating the sideways movement and lack of momentum.Whereas with the schiff median line it has met the Magenta Median line and the major Red median line.This is a probable turning point and price fall can start from this zone - + / - 20 points.
Moreover this will be a low risk point to enter a short with minimum stoploss.
Till price reaches 5630-5700 levels it will be sell on rises .
If price falls to reach 5470 - 5450 band where it should hold for price reversal with momentum.If not then further downside move expected.
Price did not drop below yesterdays low,instead moved in a range for most of the day and reached 5565 level at close.Price moved out of the red median line set drawn on yesterdays price bars , but has not moved beyond the major Red median line showing the stiff resistance at 5560-5600 levels.
What next?
To project the next move drawn the blue Andrews pitchfork and Majenta Schiff median line.The price has "walked along the Lower blue median line parallel indicating the sideways movement and lack of momentum.Whereas with the schiff median line it has met the Magenta Median line and the major Red median line.This is a probable turning point and price fall can start from this zone - + / - 20 points.
Moreover this will be a low risk point to enter a short with minimum stoploss.
Till price reaches 5630-5700 levels it will be sell on rises .
If price falls to reach 5470 - 5450 band where it should hold for price reversal with momentum.If not then further downside move expected.
Last edited:
12.05.2011 Charts
30 min Chart
Price gapped down at open but steadily climbed up and moving in a range till 11 am.The iiip news triggered a spurt and hit the red median line.Was the perfect spot to enter a short with the minimum Stoploss.And price broke the 5540 support and fell towards 5470 levels closing at 5486.:clap:
Daily Chart
On the daily chart with the majoe Pitchforks drawn the daily bar tested 5593, 2 days back and moved down decisively today.The probable target zone 5300-5350 is marked in the chart where it should find a major support.
30 min Chart
Price gapped down at open but steadily climbed up and moving in a range till 11 am.The iiip news triggered a spurt and hit the red median line.Was the perfect spot to enter a short with the minimum Stoploss.And price broke the 5540 support and fell towards 5470 levels closing at 5486.:clap:
Daily Chart
On the daily chart with the majoe Pitchforks drawn the daily bar tested 5593, 2 days back and moved down decisively today.The probable target zone 5300-5350 is marked in the chart where it should find a major support.
13.05.2011 - 30 min_ Chart update
30 min Chart-projections for 16.05.2011
Long Trade Probability
Enter Long after retest of red median line occurs at 5540-5550 band with Stoploss of 20 points./ 5520 / below a double bottom of test bars.
Target 1 - 5617 = equal points of previous parallel swing
Target 2 - 5650 - At meet of Red Upper median Line parallel at 5650 band.
Refer also to my post / chart for 9.05.2011 where the median lines gave targets of 5530 support -5537 reached / rise to 5585 projected - 5594 reached / 5490 projected-5472 reached / 5600 projected - 5605 reached today.
I have not traded all these levels perfectly though these were my projections .The beauty of Median Lines is Amazing.!!
Chart of 9.05.2011
Though the outlook was a fall from 5600 levels, today's price move with momentum has to be watched before contemplating a short. Instead longs to be attempted till 5650 levels where it again meets resistance at Upper red Median line parallel.
Shorts trigger only below 5475 levels.
30 min Chart-projections for 16.05.2011
Long Trade Probability
Enter Long after retest of red median line occurs at 5540-5550 band with Stoploss of 20 points./ 5520 / below a double bottom of test bars.
Target 1 - 5617 = equal points of previous parallel swing
Target 2 - 5650 - At meet of Red Upper median Line parallel at 5650 band.
Refer also to my post / chart for 9.05.2011 where the median lines gave targets of 5530 support -5537 reached / rise to 5585 projected - 5594 reached / 5490 projected-5472 reached / 5600 projected - 5605 reached today.
I have not traded all these levels perfectly though these were my projections .The beauty of Median Lines is Amazing.!!
Chart of 9.05.2011
Though the outlook was a fall from 5600 levels, today's price move with momentum has to be watched before contemplating a short. Instead longs to be attempted till 5650 levels where it again meets resistance at Upper red Median line parallel.
Shorts trigger only below 5475 levels.
Last edited:
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