NIFTY 5 DAY 5 MIN:
IF YOU REFER TO PREVIOUS DAYS CHART NF HAD CONSOLIDATED AND HAD MADE SYMMETRICAL TRIANGLE AND THERE WAS A BREAK DOWN IN TODAY'S CHART WHEN IT OPENED ON A NEGATIVE NOTE.
I HAVE DRAWN A SUPPORT LINE IN TODAY'S CHART FROM WHICH NF HAD GIVEN BOUNCE FROM THERE OR HAD TAKEN SUPPORT ON THAT TREND LINE DURING THE DAY.
NIFTY FUT 1DAY 1 MIN:
NIFTY FUT MADE A DOUBLE TOP AND DOUBLE BOTTOM TODAY :
DOUBLE TOP: AT 5026 NF MADE A DOUBLE TOP (DOWN ARROW)AND CAME DOWN SHARPLY AND MADE A DAY LOW OF 4962
DOUBLE BOTTOM: AT 4963 NF MADE DOUBLE BOTTOM (UP ARROW)AND MOVED UP TO 5000 AND CLOSED THE DAY AT 4984
NIFTY FUT 5 DAY 15 MIN:MACD( MOVING AVERAGE CONVERGENCE DIVERGENCE): MACD HAD GIVEN SHORT SIGNAL
GO SHORT: WHEN MACD SIGNAL LINE GAVE NEGATIVE CROSSOVER AT 5073 AFTER WHICH NF MADE A LOW OF 5045
NIFTY 1 DAY 1 MIN: NIFTY TODAY REMAINED RANGE BOUND WITH MINOR VOLATILITY RANGE OF 45 POINTS.
CONSOLIDATION: AS NF WAS RANGE BOUND THERE WERE VARIOUS BREAK OUT AND BREAK DOWN WITH MODERATE VOLUMES
SIGNIFICANT BREAK DOWN HAPPENED WHEN NF WAS AT 5068 (ARROW) WITH GOOD VOLUMES AFTER WHICH NF MADE A LOW OF 5048
NIFTY FUT 5 DAY 15 MIN:
MACD( MOVING AVERAGE CONVERGENCE DIVERGENCE):
GO LONG: WHEN MACD LINE GAVE POSITIVE CROSSOVER AT 5023 ONE COULD HAVE GONE LONG AFTER WHICH NF MADE HIGH OF 5072
NIFTY 5 DAY 5MIN:
RISING WEDGE: NIFTY FUT HAD MADE RISING WEDGE WHICH WAS BROKEN YESTERDAY AT AROUND 5061 AND TODAY IT OPENED ON NEGATIVE NOTE
NF MADE A LOW OF 5006 TODAY
DOUBLE BOTTOM: NF MADE DOUBLE BOTTOM AT 5008 (PURPLE ARROWS) AND GAVE GOOD BOUNCE WITH GOOD VOLUMES AND MADE HIGH OF 5070 FINALLY ENDING THE DAY AT 5055.
NIFTY 5 DAY 15 MIN:
MACD( MOVING AVERAGE CONVERGENCE DIVERGENCE): MACD HAD GIVEN 2 TRADE SIGNALS
GO LONG : WHEN MACD LINE GAVE A POSITIVE CROSSOVER AT 5065 AFTER WHICH NF MADE A HIGH OF 5082
GO SHORT :WHEN MACD SIGNAL LINE GAVE A NEGATIVE CROSSOVER AT 5078 AFTER WHICH NF CLOSED AT 5055
NIFTY FUT 5 DAY 5 MIN:
TREND LINE SUPPORT: IF YOU REFER TO MY PREVIOUS POST I HAD DRAWN TREND LINE CONNECTING VARIOUS POINTS WHICH I HAVE EXTENDED IT IN TODAY'S CHART (GREY COLOR)
IT TOOK SUPPORT 5050 TO 5060
