murthyonline

murthyonline Updated 

Nifty 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 Histogram and the...

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NS 50 moving as expected and broken 11000 mark and made a low at 10866. What Next ? Expecting NS to play in between day's low and 11150 for the next 4 days upto settlement with a downward bias. It can go near the low +/- 40 points and make a bottom to move up again. In the normal case this is expected and in a worst scenario NS can go down upto 10500-600...

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In continuation to the earlier post here Nifty is in the 4th Wave. As mentioned it will be the most difficult wave, in the sense, when it looks like going down it will reverse and vice versa. Now Nifty is in a critical stage to decide the fall was a 3 wave correction or a new impulse down. With Green Lines it is mentioned as a 3 wave correction. Here also 2...

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NS gave today 2 closes below the 2 and 5 SMA indicating the trend reversal. This got confirmed with the stochastic going below 80 and the MACD histogram opened below 0, though the signals are above 0 but crossed over. All these indicate the bears are in action and holding their ground. The 11900 target was given as early as 11 July 2017 and the trend reversal...

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Last week the 2 SMA came above 5 SMA indicating the intention of the Nifty to go up. MACD signals and histograms are above 0 (bullish). Stochastic tried to cross 80 a few weeks ago and failed. This time it crossed 80 and once the stochastic signal cross over happens NS can play between 80 and 100 for a number of weeks and month. Until the MACD histograms...

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As mentioned last week NS crossed ATH and started making new highs with gap ups. The probable target with wave count is marked in the chart itself. The only thing to be noted here, as mentioned in an earlier post here when NS made the high of 11170 or odd levels whenever the Nifty stays above the UBB it is bound to fall and come inside the BB. Maximum it can...

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Two squares and a circle is drawn in the chart. It can be seen from the 2 squares nifty waited for the stochastic to enter above 80 to give long candles and decisive up move. Now in the circle marked area the stochastic cross over happened and it is above 80 and started giving the long green candles and once the stochastic red signal turns upwards we can see a...

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CMP 10884.70 after making a new ATH at 10906. It is observed that in weekly chart NS whenever goes out of Bollinger Band (BB) the tendency is to pull price back inside the BB. Earlier instances marked in the chart. Now the BB is outside the UBB and by the coming week or week after that it should be pulled inside the BB which is now around 10818. It is...

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Ready in all respect and moved to bullish territory.

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Tata Motors Ready for getting into bullish phase. Candle gave indication and the cross over of blue and red line over the Orange line in 5 Min chart confirms it.

murthyonline Updated 

In the chart attached you can choose the time frame of 5 Min. for intra day and Daily for positional or any t/f as you wish. The histograms (vertical lines) minus 5 points should be SL for longs and Histogram +5 points SL for shorts. Until the price enters inside the histogram, market is in bullish phase and when it enters inside histogram it will become...

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RECAP Last Sunday indicated that the NS will be range bound and by the end of the week the correction can resume. It was at 8185.60 and after 5 trading days hard work it closed at 8243.80, though made low of 8140 and high of 8306 (both near vantage points). NIFTY WEEKLY UPDATE CMP 8243.80. Yahoo chart link... in.finance.yahoo.com EMAs : Bulls managed to...

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Further to the earlier post Nifty50 and updates the chart suggests NS has reached the maximum pull back and ready to start correction. On Monday move below 8220 and close below 8220 confirms the correction. The pattern marked in chart also suggest and what remains for confirmation is the fall of stochastic below 80. The 8260 is a crucial point which was...

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A small H&S formation seen in weekly chart and marked. The MACD signal is ready to enter inside histogram and this can drag down the nifty by next week. So far NS respecting the 20 EMA and tomorrow if it all move up it should not be above 8132, that too as a spike and close below 20 EMA. The probability of a bearish harami pattern tomorrow in daily chart...

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A small H&S formation seen in weekly chart and marked. The MACD signal is ready to enter inside histogram and this can drag down the nifty by next week. So far NS respecting the 20 EMA and tomorrow if it all move up it should not be above 8132, that too as a spike and close below 20 EMA. The probability of a bearish harami pattern tomorrow in daily chart...

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in.finance.yahoo.com 20 EMA in daily chart placed near 8105-8110 levels. This can very good resistance. NS first try, to break it, can be futile and if it has to cross it either it should be with a gap up or after 2nd or 3rd try. So there can be a vertical fall to 8000 or below it, either in the after noon session or tomorrow/Friday.

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Nifty EMAs made a death cross around 8260 area last time and incidentally it made the death cross exactly at the same place. Last time it went all the way down to 6850 levels and this time also there is a probability that it can go below 6800 unless it is a truncated C wave.

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In Nifty Spot chart the death cross occurred. See the red and green lines 50/200 EMAs. When last time the death cross occurred, incidentally at the same place at 8260 area. What happened after that NS went down to 6850 levels. Since the 9200 levels to 6850 level is taken as "A" wave and 6850 to the recent high as B wave we are now in C wave in larger time...