NIIT Tech: Will the Blue Fork Take over?Look at the annotations in the chart. Plain and simple Andrews Pitchfork rules at play. Price has taken out a minor swing high, indicating a change in behavior.
Pitchforks
Nifty: Which Of the Two Forks is Valid?Your guess is as good as mine wrt above question. If price breaks the lower parallel of magenta fork, it would be a failure and hagopian rule will be in play.
Divis Lab: Consolidation Near Medianline, Will it Breakout?Stock consolidating near the medianline. Would get excited on a breakout. Watch this stock
NIIT Limited: Watch The Green Pitchfork The green fork has been in tune with the price action. Check annotations for more details.
Nifty 15 Mins: Are We In For A Bounce? Price has been ranging for a while now. I have a What-if fork in place. Note the reversal bar off the lower parallel. Am stalking this for a potential long trade. the green and the orange colored line represent resistance / target.
Nifty: Is price headed to the Warning LineOnce again the simple Pitchfork does a fabulous job of containing price action and providing key reference point. Check the chart annotations.
Ashok Leyland Pursuing Downward TrendAs shown in the chart, the pitchfork pattern indicating that the price action is trending downward.
Nifty: What-If ForkAm having this downsloping fork as a What-if candidate. This gives me a better perspective and a balanced view. Check annotations in the chart
Nifty: Price Hits MedianlinePrice has hit the medianline and #Andrews101 states that price could turnaround or congest or breakthough that medianline and progress higher. Of the three options, the third one seems unlikely given the fall on Friday.
The other two options - Congestion or turnaround (trend-reversal) are the two potions we are left with. We just have to wait for a few weeks to conclude if a significant HIGH is in place for the Nifty -0.96% .
For me, the low at 8,540-ish is the crucial reference point. Until that low is breached, there is nothing to worry from a long term perspective.
Nifty: Price Hits MedianlinePrice has hit the medianline and #Andrews101 states that price could turnaround or congest or breakthough that medianline and progress higher. Of the three options, the third one seems unlikely given the fall on Friday.
The other two options - Congestion or turnaround (trend-reversal) are the two potions we are left with. We just have to wait for a few weeks to conclude if a significant HIGH is in place for the Nifty.
For me, the low at 8,540-ish is the crucial reference point. Until that low is breached, there is nothing to worry.
