murthyonline

murthyonline

Notes Marked in the chart. Detailed post at week end.

murthyonline

As expected Nifty 5.1.4 wave reached near 11100-200 range and reversed. This 4th wave looking at it after the event turned out to be a peculiar one, in the sense that it took much more time at distribution level at ATH and just below it before cracking. 1. With the first indication of HH and HL in normal candles, long can be initiated with SL just below the...

murthyonline

Due to Bangalore Meet on last Saturday and Sunday this thread could not be updated. Sorry. Nifty has made another throw over of another 100 points from the last ATH and made a new ATH. It could not sustain there and made an Open=High on last Thursday and started falling. MACD - signals in daily could not cross over to give upward force and the Bears were...

murthyonline Updated 

NIFTY target was expected at 11680 but there was a throw over to 11761 just breaking the ATH by 1 point and making a double top. A perfect double top needed nearly 6 months gap and Nifty exactly done that. A double top indicate bearish implications. Moreover the weekly chart doji and the high premium points to some cooling off. As detailed in last post NS made...

murthyonline Updated 

As marked in chart 5.1.3 is nearing completion reaching 11630+ on Friday. 11650-80 was the expected target. NS may make another 20-50 points or complete here. Then the 5.1.4 should start for target 11100-200 levels signalling medium term correction. Now how to understand this 5.1.3 is finished. 3 simple steps can give the answer. 1, In daily first we should...

murthyonline

In continuation of January Post , NS reached 11482 and the trend goes on upward. Now the following probabilities emerge :. 1. NS can move on upto 11680 level and may correct to 11200 levels. 2. from 11200 levels it can move up to 12300 as marked in chart as wave 5.3. 4. From wave 5.3 again correction of 5.4 and go upto touch 5.5 at 15500+ by December...

murthyonline

In continuation of January Post NS reached 11482 and the trend goes on upward. Now the following probabilities emerge as marked in chart as main waves and sub waves, sub-sub waves. 1. NS can move on upto 12300 level to complete 1st wave of wave 5 and correct to 11200 levels as 5.2 wave, 2. from 11200 levels it can move up to 14200 as marked in chart as wave ...

murthyonline

This is an enlarged portion of the chart posted in Nifty Path. Markings in the post speaks for itself.

murthyonline

Nifty is in uptrend channel from below 3000 levels marked. Retracement levels are also marked adjusting the first breakout. The second breakout automatically formed. Now heading for 3rd breakout level. This is a multi year plot and may not be good for day traders and short term traders. This is for purely educational purpose and to understand the path. Red trend...

murthyonline

Nifty moving like a ping pong ball up and down for the last 3 weeks within the range of 10700-950. Why ? In Weekly chart the MACD signals released from the histograms below 0, so the fall is restricted. As both histogram and signals were below 0 the uptrend is restricted. Now with 18 Jan. weekly close the following are visible in chart. MAs - Price able...

murthyonline

As indicated in last post NS reached 10984 but failed to cross 11000 for the reason mentioned 11K OI was very high and new shorts will be created near 10942-11000 area. It so happened and the NS had to retreat to 10534 where the 10500 OI was high. So it played as expected. Now what ahead. Very very interesting scenarios are developing and good hope for the...

murthyonline

Nifty though moved in expected lines, corrected much more and reversed with a vertical fall and V-shape recovery last week. The targets given were based on sub sub sub waves as confirmation for the clear sub wave yet to emerge. As on today the Nifty offers a number of probabilities challenging the analysts saying “catch me if you can.”... A number of...

murthyonline

Nifty moved in expected lines as mentioned in the last post on 3rd November. It made a high of 10922 (10937-80 given on Nov.3) and started reversing in sub-sub wave and heading for 10700. From there fast upmove expected to 11080-200 levels. Then again a down move to 10700 levels and move up to cross the ATH. From there another fall expected which can take...

murthyonline

In continuation of the last week post NS progressing as expected and crossed the target of 10580. The up move was in equal measure to the fall we have witnessed in October. Now it is going to be more volatile, as until it crosses ATH it is presumed as still in 4th wave and once it crosses the ATH to be considered as the 1st wave of 5th wave, in multi year,...

murthyonline

Nifty is making a head and shoulder pattern both in daily and weekly charts. Weekly chart marked here. The expected cross over of MACD signals and 2 closes above 5 SMA in daily chart yet to happen. This will be the first signal, corresponding to the view marked in the chart, is starting. Confirmation will be sustaining above 200 SMA in 30 min chart which...

murthyonline

Updated chart attached with enlarged view to understand the 2 and 5 SMA. As mentioned last week Nifty 50 made a vertical fall and vertical rise from Last Friday Close. ""From the chart it seems we have already made the bottom or within next 100-200 points NS - can make a bottom with quick fall and rise. "" Now it can be seen in the chart NS 50 already closed...

murthyonline

Some of the earlier posts lnks given above and you can see the date of post and what happened after that with the price bars updating. Many members asking me the 4th wave is completed or what is the bottom........ The chart and markings can give an idea what my views are. The 4th wave is not yet completed, though it has made the traders tizzy, and imagine...

murthyonline

Nifty -0.43% moved in the expected lines as mentioned in last Friday post. a) It respected the range of 10870-11150 moving up and down with a downward bias. b) The typical behaviour of 4th wave, as the trader does not know it will move up or down, is clearly visible. c) The chart shows first and the events unfold later. d) The first signal got out of...