Where is nifty going?

[TradeRaid]

That is again news. In trading we do not see good or bad news..just news.

good news does not mean market will move up and bad news does not mean market will move down.

news just makes the market go in overdrive mode for sometime , it could be any direction.

But yes, when we know there is major disaster like the 2008 financial crisis , we can be certain where the market is going..

but lets see next week,hang on to your stop losses, we are going for a wild ride...

What a roller coaster today was!!!

 

[TraderDude]

Weekly update.

 

[TraderDude]

NIFTY Weekly update.

 

[Bigbear]

Hi TraderDude,

I really don't know how i missed this wonderful thread...
To say the truth, What ever you said from the first post of the thread. Very very similar thoughts have been going through my mind.
The day it broke 5150 , My thought process was that 4800 is the next stop in NF and based on how it reacts here, it may still go down till 4500.. And Sudoku also tells the same thing in his own way!

I know there are not many people appreciating your efforts . May be they are still after the magic indicator/system which gives Buy and sell signals,.. Anyways Good job bro!!

This is what true learning in markets is!!! Would love to participate here and In the new NF daily thread..
And on Daily TF accuracy of catching the bottoms within this DT is also amazing.. Would love to post the charts once the new thread starts..

Take care!

 

[TraderDude]

Ranging on weekly , Looking @ monthly

 

[SavantGarde]

Ranging on weekly , Looking @ monthly

Looking at the chart and previous price action on the monthly....there have been only 2 previous instances of 3 consecutive red bars and the third instance being the current last 3 bars..... so can we safely assume that we may not have red bar for June atleast.....!!!

SG

 

[prabhsingh]

Why are you making use of lines and not CandleStick Bars in the above pictures?

 

[TraderDude]

SG,

If we hit the support @ 4600 and it holds , we will most likely have a green bar in june.

It all depends where the bar opens in june..

 

[TraderDude]

OHLC bar are better for reading PA and S/R. Candlesticks add no value to this, at least to e..hence the OHLC bars..

 

[TraderDude]

Something to study over the weekend...one could have made a fortune just playing the monthly..