COMPARING MY LAST STATEMENTS WITH REAL MOVE IN SGX NITY
1.In point no.3 I clearly mentioned that a divergence in price to volume is seen this can test the lower limit of red zone which you can see in fig I circled in green . Same happened. That is whyI always say market show friendship with my analysis. 2. Now next what? In nifty post with upper time frame I showed you bulls of week aggresive nature are being trapped for last 8 sessions. I explained in detail about it. In later update those seen post earlier can see latest update where I posted lower time frame chart in which I showed local distribution is going on that is why nifty is reluctant to fall . In my previous posts I already shared that Nifty bottom is likely formed so nifty has to travel less than banknifty where bottom is not formed so travel distance of bnf is more compared to nifty. Bnf can give new low or test previous low in coming days. 3. Lets compare the signals given by sgx in this fig. then match with nifty signals . In sgx nity i cirled in green area, where morning star is seen that has been tested in next candle. If it really works then green dotted line will breach and price will go in 1st micro zone. If momentum is good then go to 2nd micro zone near 9300. On the contrary If 2nd micro zone in lower side is breached and price do not come back in next 30 mins then market can see a fall. If we compare both set up together , we find in nifty chart green trend line testinglevel is 9300 and sgx 2nd micro zone upper limit is also 9300. Therefore, probabilities to move up increases. 4. All conditions in every chart i mention clearly for you all . When i devote that much time in analysing and writing . Its your duty to understand it by devoting maximum time to take out your trades , that is called timing with the help of this analysis. If any confusion in reading it then write to me always welcome. For entry and exit timings I can not help because every thing is mentioned in charts tune your mind to adopt it. Rest market will decide.
@yvatsji Sir i didn't understand below line .. Also, breached out and taken out is one and same thing ...Correct me if i am wrong. I have gone through your post where you gave the explanation about breaching and taken out...
breaching means:
"it does not mean change of trend in breached direction. Generally price come back in same region whether any support ,resistance,zone ends come back in next 15 min"
Taken out means:
candle breached that line either support or resistance and gets closed out of this line and price do not come back in 15 mins.
Please clarify this line:
On the contrary If 2nd micro zone in lower side is breached and price do not come back in next 30 mins then market can see a fall...
Also, i see High volume of buying on 12th may around this level around last hour of trading... so could be Market will bounce back to 9300 and then come back as current graph showing WAVE Pattern ......
yvatsji
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@wadhwaamit4, This time I am happy you did your home properly. All concept of breaching are clear to you. As per your explanation. Only one condition I added after details of taken out is missed in your explanation. That I try to re call for you. A 15 min candle is breached any support or zone and close out of that support or zone. Now second condition next candle holder f 15 min should also closed below the breached candle. If the next candle is inside bar then next to next candle should close below brexhed candle only then break out condition will qualify. I have shown in either nifty chart or bnf chart. See carefully again. And match with this details. Always remember this is guide lines not perfect rule.
wadhwaamit4
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@yvatsji, Got it Sir.. Now please advise next setup of chart in tradingview.. what all indicators i should setup in chart for indices like NIFTY/SGX/BNF while trading in order to watch and do the trade at correct timing.
I learnt two things so far from last 2-3 trades
1. Always see 15 min candle for breach/taken out and see the volume ...
2. If not sure, then wait for indicators in 1 hour candle and see the movment and co-relate it with the indicators like resistance/support/divergance/distribution/test levels etc.. and then decide the move...
For above things, i need to setup chart on trading view for 3 index in order to monitor the market and decide accoridngly... Can you please guide me ...
So far, i am just writing key points in my notepad along with levels/zones/trendlines etc for each indexes and then doing the trade.....I think i should move to next step now... If possible please advice....i am OK to burn the oil in the night to learn all these things....i just need a teacher who can clear my doubts and advise further...i am looking forward to learn from you...
yvatsji
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@wadhwaamit4, Happy to hear this . If you are so enthusiastic then start with the first level book o candle stick course by steve nision download it ron pendrive free books .com. Read every word care fully practice on chart.when you finish it will take to next level.
lyfdekho
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if banknifty go down how nifty can manage to hold the level of morning star??
yvatsji
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@lyfdekho, good question to ask for. See in sgx nifty analysis I gave one condition of green dotted trendline if it is taken out then nifty can go to upside. Otherwise down. Similarly for bnf if micro support is taken out then will move down. These conditions will sync bny market itself.
sunyuva
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Ji, I have one dought. If the nifty touches March low how much points bounce from there. Once again if nifty breaks the March low what is the next target. Because some experts saying the present COVID-19 situation is worsen than world war - ll. So they are saying 7511is not a bottom.
yvatsji
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@sunyuva, in my last so many post regarding nifrt I have been constantly telling that nifty has formed its bottom. Nifty is going in accumulation process so when this process will complete it will start it journey time up side. Covid is already discounted in it
breaching means:
"it does not mean change of trend in breached direction. Generally price come back in same region whether any support ,resistance,zone ends come back in next 15 min"
Taken out means:
candle breached that line either support or resistance and gets closed out of this line and price do not come back in 15 mins.
Please clarify this line:
On the contrary If 2nd micro zone in lower side is breached and price do not come back in next 30 mins then market can see a fall...
Also, i see High volume of buying on 12th may around this level around last hour of trading... so could be Market will bounce back to 9300 and then come back as current graph showing WAVE Pattern ......