It seems that NIFTy50 has formed Head and Shoulder pattern and yesterdays freaky Friday broke the shoulder level.
However need to check whether this crash was one off event and whether NIFTY will manage to move up from here.
NIFTY recovered its intra day loss and ended at a good support level
Nifty is trading it's all-time high, but only large caps participation in this rally till now. We haven't seen any value buying in Midcaps & Small Caps till now.
Yes, Bias is good and shorts not advisable but CAUTION note is there. and the first thing we need to do is we should hedge our long positions. Because We may see a sharp downfall from here. So Buy some...
Take it as educational unless you understand the details of this strategy. I suggest you to backtest yourself, to understand entries and exits, before putting it in your trading repertoire.
Rules:
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Only Long trades when price > 55 EMA
Only short trades when price < 55 EMA...
Nifty cmp 10854 spot near CLOSING ,macd has given a positive crossover on day charts
the key level on downside to watch is 10800
as long as 10800 holds on weekly closing basis nifty will be positive and ready to challenge recent highs
there are no decent resistances on upside as long as nifty holds 10800
THOSE WHO WISH TO TRADE POSITIONAL/INVESTMENT CAN...
Hi
In my previous post on the index, I presented a bearish cypher and three levels on the chart.
The first and second levels got hit while the third one has not. It made a low at 10417 right at the 50% retracement level mentioned on the above post. Since then it has been reversing.
What do I expect now?
What I see on the chart is the formation of another...
Hi,
Publishing a bit late in this downmove, but we 'll discuss few opportunities on the downside.
First of all Nifty managed to close above 10785, did not hit the 11000 target but 10929 instead before the giant Cypher nibbled the bullish move. We might have some downside left in this move but perhaps this is not the place to short.
Traditionally the first target...
Hi All,
Let's quickly get to the charts.
I can observe a Bat pattern completed at 10180. This could be taken as a reversal trade setup with traditional targets at 10295, 10330 and 10365.
So If this setup works I would be passively bullish for the above conservative targets. Only on break and close above 10420 (on this chart), I may again play for 10600....
This whole month what I've observed is that Nifty always fills the *opening gap ups/downs* usually the same day or the next day.
Could be useful for next such move by nifty.
As they say, history tends to repeat itself.
Please do you own analysis before taking any trading decisions.
Whenever Raman, one of my best friend, sits in front of Television and hears a Technical analyst he could not stop himself saying," ho sakta hai wahan tak chala jaye..neeche bhee aa sakta hai..oopar bhee ja sakta hai..bc..inko kush bhee pata nahi aur hame bevakoof bana rahe hain".
The psychological setup of people like him is so rigid that we can never convince...
Hey Guys, Happy Weekend & this weekend is pretty long one too. Enjoy the weekend to core & try more charting which makes you better at trading.
So What should be your basic expectation from Trading ?!
To be Billionaire overnight ? yeah guys, millionaire not in our list anymore, too much of crowd in that zone (or)
To make every trade right ? (or) To become...
