On Daily Price Chart Nifty is on Resistance. But what is the possibility of upside breakout?
Now, the good (positive) thing is that
1) on 1Day MACD it has given a breakout
2) MACD has completed a consolitation and it has bounced from 0 level
3) Weekly Fisher and MACD both are positive.
But any one can say that market will go up. But if you ask how far, there may not be a reasonable target.
When every one give a price target upside, my target is different from price. I calculate it on Fisher. A Fisher Top on 1D will be the target. It can not be converted in Price, so nobody can convert price with Fisher value, even Artificial Intelligence.
Where to be cautious? - I predict how it will behave from now onward.(Future behavior predicted today with my PERFECT SETUP)
At 1D Fisher Top,
1. remember there will be a MACD 2 Top. It indicates that market is overheated.
2. By that time 1 Month Fisher (which is at present below trigger) will crossover the trigger.
3. There will be a consolidation. In first scenario, there will be a MACD fall below Signal Line but still, there is no 1Week negative crossover i.e. Fisher does not cross below Signal Line. Alternatively, 1D MACD will fall upto 0 and both 1D MACD below Signal Line and 1Week Fisher below trigger. This will be a measured fall and technically may be termed as consolidation.
There are few other positive things but if I write those things, it will create confusion.
My strategy is simple. I only consider 6 time frames for the target. These are in fact MEASUREMENT OF CALCULATED rise or fall in price. It has nothing to do with actual FISHER or MACD use/purpose.
My Basic simple strategy (Not applied here on Nifty because , it is different from Basic simple strategy).
APPLY IT ANYWHERE AND YOU WILL FIND IT PERFECT:
3 UP 3 DOWN APPROACH (6 time frame comprising 1.9M 2.3M 3.1M (3 Up) & 4.1Week 5.1D & 6.4H (3Down)
9Month 3Month 1Month MACD Up then (Unless at extreme Top of these)
Fall will be restricted as follows
1. 1W - Usually MACD will be up above Signal Line
2. 1Day MACD will be near 0 and Down below Signal Line
3. 4Hour will be extreme both MACD and Fisher.
Definitely market will bounce from there (unless 1M turn negative).
Above happens usually. Why I call it usually? Because in some case fall is quick/swift, in some cases it is extremely range bound and in some cases (usually) it is exactly as per PERFECT SETUP - BUT result will be same in all those case i.e. BOUNCE at 4H Bottom.
CHALLENGE - APPLY IT ANY WHERE with 3 & 3 time frame.
There are some variations (combination) but it can be understood only if someone GRAB ABOVE 11CONCEPT with 40-50 stocks historical price.
TILL then BU NIFTY for good run-up.
COMMENT- SHARE MARKET is CERTAIN and PREDICTABLE. It always behave in pattern of 3 & 3 like a clock. But remember 3Up & 3Down will not be true for ever. Sometime it will turn down as 3 Down & 3Up (Perfectly opposite scenario). This is cycle. Even the vice versa scenario is written on wall i.e when market trend will change. But I will share it at another time.
Now, the good (positive) thing is that
1) on 1Day MACD it has given a breakout
2) MACD has completed a consolitation and it has bounced from 0 level
3) Weekly Fisher and MACD both are positive.
But any one can say that market will go up. But if you ask how far, there may not be a reasonable target.
When every one give a price target upside, my target is different from price. I calculate it on Fisher. A Fisher Top on 1D will be the target. It can not be converted in Price, so nobody can convert price with Fisher value, even Artificial Intelligence.
Where to be cautious? - I predict how it will behave from now onward.(Future behavior predicted today with my PERFECT SETUP)
At 1D Fisher Top,
1. remember there will be a MACD 2 Top. It indicates that market is overheated.
2. By that time 1 Month Fisher (which is at present below trigger) will crossover the trigger.
3. There will be a consolidation. In first scenario, there will be a MACD fall below Signal Line but still, there is no 1Week negative crossover i.e. Fisher does not cross below Signal Line. Alternatively, 1D MACD will fall upto 0 and both 1D MACD below Signal Line and 1Week Fisher below trigger. This will be a measured fall and technically may be termed as consolidation.
There are few other positive things but if I write those things, it will create confusion.
My strategy is simple. I only consider 6 time frames for the target. These are in fact MEASUREMENT OF CALCULATED rise or fall in price. It has nothing to do with actual FISHER or MACD use/purpose.
My Basic simple strategy (Not applied here on Nifty because , it is different from Basic simple strategy).
APPLY IT ANYWHERE AND YOU WILL FIND IT PERFECT:
3 UP 3 DOWN APPROACH (6 time frame comprising 1.9M 2.3M 3.1M (3 Up) & 4.1Week 5.1D & 6.4H (3Down)
9Month 3Month 1Month MACD Up then (Unless at extreme Top of these)
Fall will be restricted as follows
1. 1W - Usually MACD will be up above Signal Line
2. 1Day MACD will be near 0 and Down below Signal Line
3. 4Hour will be extreme both MACD and Fisher.
Definitely market will bounce from there (unless 1M turn negative).
Above happens usually. Why I call it usually? Because in some case fall is quick/swift, in some cases it is extremely range bound and in some cases (usually) it is exactly as per PERFECT SETUP - BUT result will be same in all those case i.e. BOUNCE at 4H Bottom.
CHALLENGE - APPLY IT ANY WHERE with 3 & 3 time frame.
There are some variations (combination) but it can be understood only if someone GRAB ABOVE 11CONCEPT with 40-50 stocks historical price.
TILL then BU NIFTY for good run-up.
COMMENT- SHARE MARKET is CERTAIN and PREDICTABLE. It always behave in pattern of 3 & 3 like a clock. But remember 3Up & 3Down will not be true for ever. Sometime it will turn down as 3 Down & 3Up (Perfectly opposite scenario). This is cycle. Even the vice versa scenario is written on wall i.e when market trend will change. But I will share it at another time.
"The greatest enemy of knowledge is not ignorance, it is the illusion of knowledge." Stephen Hawking.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
"The greatest enemy of knowledge is not ignorance, it is the illusion of knowledge." Stephen Hawking.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
