On 29th Aug 2010, I wrote in the weekly blog of nifty in point no.1 of the trading section is quoting as a crystal clear proof of what you saw in terms of price movement in nifty this week has already manifested in form of support , resistance, and conditions this index behaved exactly same. " Price made micro-zone of yellow dotted line with a red line, It will be tough for the next session to take it out in both time frames for quite some time. Only next session opening if gap up sustains then you will see taken out the condition will fulfill. Otherwise, the price is expected to come to the yellow solid and pink dotted zone." . You can see price opened gap up exactly touched my upper target of the pink color line and could not be sustained and took first support of the fall at the yellow pink zone. On this day with a crystal clear explanation, one of my followers wrote how much money he made is quoting for your consideration. "ckirtane
sold 11600ce &11500ce today &earned 22000. thanks very much again for giving exact level to short."
2. Now come to point no.2 of the same section how clearly and confidently I declared what is going to happen is quoting as proof there is a clear instruction for positional long to cover in this statement. " If price takes out the yellow dotted line in both time frames then a pink solid line will be the target. That should be the final target of this uptrend where all positional long should be covered."
you can see I talked about the final target of this uptrend And the same seen. Can on this platform or anybody across the on-air personalities manifest such crystal clear moves consistently in all blogs which I post in any index or stock. Think over it
3. Those who follow word to word of my blog and react accordingly, they all earn. I did not stop there even cleary wrote on point no.3 of this section about the trend same seen . " on the contrary if the yellow solid and pink dotted line is taken out downside in both time frames of 15 min and 1-hour then the uptrend will change to the downside. Then all positional long should be covered." You can see how a precisely eery move of whole week was written in advance. You can see I marked in green color circle price took resistance with the formation of various patterns. One thing see carefully I made red arrow move to yellow , not to the red dotted line. This time I was clear about the support of this fall to not red dotted line except one candle all closed above this . A pink color zone is showing the support provided by the yellow .
And next proof of this red arrow to yellow is marked in a red circle where after gap down opening It provided resistance. and price breached the red dotted line. The moral of this explanation is that once the Red dotted line acted as resistance should be acted as support but I did not select this line as compared to the yellow . Feel the depth of analysis in this explanation. People compare my with previous but they all of the next level. You may find they are coinciding with any of the but actually HAS DEPTH. Setting the previous fig to compare with the current price move.
Trade Plan For Next Week.
1. I made a temporary green dotted line as support, the price can use this to move the upward direction till the green solid line. If it takes this route to go up then chances of the taken-out condition above the green solid line will be more to the yellow dotted line.
2. On the contrary, If price does not use the green dotted line as support then the white line is the target of this downtrend move where a bounce can be expected to pink zone On taking out in both time frame of 15 and 1-hour the price will further move to the yellow pink zone. In this route, the green solid line will be less effective.
3. In any case, the yellow dotted line is taken out both tie frame then the price can go to the pink slid a line or slightly move further from this line.
For new readers to understand taken out condition, please see any back post of last week. Even attaching link for that.
Disclaimer:- This is an educational blog any trade on behalf of this analysis is not recommended. please consult your financial advisor for trade.