my latest charts for nifty...
4.11.10 hourly
11.11.10 hourly,
past 15 days has helped me get 560 points in 2 lots !!
15.11.10 hourly
I started a blog niftytradeswithpitchfork.blogspot.com to record my outlook and this is what i noted...
Nifty supported itself after falling through 6160 at 6060 levels at the green parallel line drawn parallel to the main median line from 5350.6060 was the 50 sma range also.The levels noted on 11.11.10 were held.
As the stoch indicator is falling , my view is the correction will continue till it reaches oversold levels.
Looking at the hourly chart,the price fell through the red pitchfork and was supported on the descending green pitchfork.This junction is the culmination of Warning line drawn from 5350.
Now if this point breaks expecting prices to move south to 5890 levels.This level is calculated with parallel sliding line ( distance 50 % of B- C range from point C).But the path whether it will be a sideways move or faster fall will have to wait and watch....
And it happened on Tuesday 16th!!
Uploaded with ImageShack.us
4.11.10 hourly
11.11.10 hourly,
past 15 days has helped me get 560 points in 2 lots !!
15.11.10 hourly
I started a blog niftytradeswithpitchfork.blogspot.com to record my outlook and this is what i noted...
Nifty supported itself after falling through 6160 at 6060 levels at the green parallel line drawn parallel to the main median line from 5350.6060 was the 50 sma range also.The levels noted on 11.11.10 were held.
As the stoch indicator is falling , my view is the correction will continue till it reaches oversold levels.
Looking at the hourly chart,the price fell through the red pitchfork and was supported on the descending green pitchfork.This junction is the culmination of Warning line drawn from 5350.
Now if this point breaks expecting prices to move south to 5890 levels.This level is calculated with parallel sliding line ( distance 50 % of B- C range from point C).But the path whether it will be a sideways move or faster fall will have to wait and watch....
And it happened on Tuesday 16th!!
Uploaded with ImageShack.us
Last edited: