In a highly volatile market ,it could not cross the
20 dma and median line of the pitchfork.
Normally when stock or index is unable to cross the
median line its chances of return to the lml is high.
today from the very begining my target was median line.
But it didn't touch the median line as such in straight.
volatility was very high,even at one point of time 43800
ce fell to below 50.After that bank nifty rose forming green
candles to cross the 20 dma and touch median line.and during that time 43800 ce was above 250'
and after that bank nifty retraced as if it had accomplished the task
and that ce fell drastically.
this type of volatility really unusual.
as long as bank nifty is trading below 20 dma it is negative.
allthat we need it to cross 20 dma and median line of the pich fork.
today's range was not high it was only 378.
Today's volatility is expiry related or not will be obvious tomorrow.
20 dma and median line of the pitchfork.
Normally when stock or index is unable to cross the
median line its chances of return to the lml is high.
today from the very begining my target was median line.
But it didn't touch the median line as such in straight.
volatility was very high,even at one point of time 43800
ce fell to below 50.After that bank nifty rose forming green
candles to cross the 20 dma and touch median line.and during that time 43800 ce was above 250'
and after that bank nifty retraced as if it had accomplished the task
and that ce fell drastically.
this type of volatility really unusual.
as long as bank nifty is trading below 20 dma it is negative.
allthat we need it to cross 20 dma and median line of the pich fork.
today's range was not high it was only 378.
Today's volatility is expiry related or not will be obvious tomorrow.
Comment:
Comment:
I have removed the pitchfork this chart shows how it touched the line of the channel which coincided with median line of the pitchfork and got rejected.breaking of ths channel is essential to form impulse wave.
