Hello all.
The most of the time i spent here, is for learning something new about the market, like reading charts, learning TA etc. This afternoon i decided do put myself in an layman's angle, and what he will infer by merely looking at the chart when it is shown to him, with zero technical knowledge.
I took nifty chart and simply divided into various parts, and marked with red arrows where price movement and the histogram bars also move in same way.
Similarly i marked with black arrows where price and histogram bars move in opposite ways.
I tried to extend the black arrows in the histogram and price to find when nifty movement will reverse?
Then roughly, in a very crude way, i made projection of what could be the charts look like, in next week, by using PAINT BRUSH.
CONCLUSION OF LAYMAN:
1) By extending the vertical bars ( layman does not know its bars of histogram) and the price movement, the market will be in range bound for next four days, and on fifth day, i.e) on friday the selling will start.
2) The upmove of the market is restricted to 5350.
I request all members here to excuse me, if this post is so boring and irritating. Just i wild thought has made me to come up with such a post, and nothing beyond that.
Regards
Saivenkat
The most of the time i spent here, is for learning something new about the market, like reading charts, learning TA etc. This afternoon i decided do put myself in an layman's angle, and what he will infer by merely looking at the chart when it is shown to him, with zero technical knowledge.
I took nifty chart and simply divided into various parts, and marked with red arrows where price movement and the histogram bars also move in same way.
Similarly i marked with black arrows where price and histogram bars move in opposite ways.
I tried to extend the black arrows in the histogram and price to find when nifty movement will reverse?
Then roughly, in a very crude way, i made projection of what could be the charts look like, in next week, by using PAINT BRUSH.
CONCLUSION OF LAYMAN:
1) By extending the vertical bars ( layman does not know its bars of histogram) and the price movement, the market will be in range bound for next four days, and on fifth day, i.e) on friday the selling will start.
2) The upmove of the market is restricted to 5350.
I request all members here to excuse me, if this post is so boring and irritating. Just i wild thought has made me to come up with such a post, and nothing beyond that.
Regards
Saivenkat