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 FUT 5 DAY 10MIN:
MACD( MOVING AVERAGE CONVERGENCE DIVERGENCE)
GO SHORT:WHEN NF WAS AT 4692.50 ONE COULD HAVE GONEN SHORT AS MACD SIGNAL LINE GAVE NEGATIVE CROSSOVER AND AFTER THAT IT MADE DAY LOW OF 4731.55
NIFTY 5 DAY 5 MIN:
TRUST ONLY TREND: IF YOU REFER TO MY PREVIOUS POST(CLICK ON LINK ) WHERE I HAD DRAWN TREND LINE (IN YELLOW) ,WHICH I HAVE EXTENDED IT IN TODAY'S CHART (IN BLUE)
http://ritesh-researchreports.blogspot.com/2009/11/nifty-fut-301009.html
AS EXPECTED IT TOOK RESISTANCE AT 4725(ARROW)
ONCE THAT TREND LINE RESISTANCE WAS BROKEN IT MADE DAY HIGH OF 4734.95
HEAD AND SHOULDERS : NF MADE H&S PATTERN WITH NECKLINE BROKEN AT 4710
** THE ABOVE CHART IS SELF EXPLANATORY
NIFTY 5 DAY 5 MIN:
ADX(AVERAGE DIRECTIONAL INDEX): THIS IS ONE OF MY FAV INDICATOR AND ONE OF THE MOST RELIABLE .
ONE COULD HAVE GONE SHORT WHEN (-) DIRECTIONAL INDEX GAVE CROSSOVER AT 4824 AFTER WHICH NIFTY FUT MADE DAY LOW OF 4692
ADX HAD TOUCHED 20(OVER SOLD) ZONE AND HAD STARTED TO MOVE UP AS CROSSOVER WAS GIVEN BY -DI
NIFTY 1 DAY 1 MIN:
NIFTY FUT 5 DAY 5 MIN: NF HAD GIVEN BUY SIGNAL IN CANDEL STICK PATTERN SHOWN WITH ARROW
MACD(MOVING AVERAGE CONVERGENCE DIVERGENCE) : TODAY MACD HAD GIVEN 3 SIGNALS TO TRADE
1: GO LONG:WHEN NF WAS AT 4827.7 THE MACD LINE(GREEN LINE) MADE A CROSSOVER OF SIGNAL LINE(RED LINE) THUS BUY SIGNAL WAS GIVEN AFTER WHICH IT MADE A DAY HIGH OF 4867
2: GO SHORT: WHEN NF WAS AT 4835.65 THE MACD SIGNAL LINE GAVE NEGATIVE CROSSOVER OF MACD LINE THUS SELL SIGNAL WAS GIVEN AFTER WHICH IT MADE LOW OF 4800
3:GO LONG: WHEN NF WAS AT 4813 THE MACD LINE GAVE POSITIVE CROSSOVER THUS BUY SIGNAL WAS GIVEN AFTER WHICH IT MADE HIGH OF 4840
NIFTY 5 DAY 5 MIN : IF YOU REFER TO MY PREVIOUS POST I HAD DRAWN THE TREND LINE WHERE NF FACED RESISTANCE, I HAVE EXTENDED THAT TREND LINE IN TODAYS CHART(YELLOW COLOUR) AND AS EXPECTED IT FACED RESISTANCE AT 4827 (ARROW)
BUT ONCE IT CLEARED THAT RESISTANCE IT MADE DAY HIGH OF 4867
NIFTY 1 DAY 5 MIN : MARKET OPENED ON NEGATIVE NOTE BUT STARTED TO RECOVER BY 11 AM AND WAS POSITIVE BY AFTERNOON BUT CAME DOWN SHARPLY AND CLOSED IN NEGATIVE AT 4832
CANDELSTICKS:
1: IN NF BUY SIGNAL WAS GIVEN WHEN THE GREEN CANDEL HAD COVERED THE RED CANDEL (BULLISH ENGULF) AT 4808 AND THEN MADE A DAY HIGH OF 4867
2 : WHEN NF WAS AT DAY HIGH AT 4867 SELL SIGNAL WAS GIVEN WHEN DUE TO SELLING PRESSURE A BEARISH RED CANDEL WAS FORMED WHICH HAD COVERED THE GREEN CANDEL(BEARISH ENGULF) AT 4858 AFTER WHICH IT HAD GONE DOWN TO LOW OF 4800
NIFTY 5 DAY 5 MIN: NIFTY FUT HAS MADE ROUNDING TOP FORMATION WHICH IS RARE .
A ROUNDED TOP IS CONSIDERED A BEARISH SIGNAL , INDICATING A POSSIBLE REVERSAL OF THE CURRENT UPTREND TO A NEW DOWNTREND
ONCE THE NECKLINE WAS BROKEN TODAY IT TRIED TO TOUCH NECKLINE BUT FAILED AND CAME DOWN HEAVILY AS SHOWN IN THE ABOVE CHART
IN TODAY'S CHART NIFTY FUTURE HAD MADE A RISING WEDGE WHICH WAS BROKEN WITH GOOD VOLUMES
CREDITS: SANDESH DALVI
CHARTS UPDATED :RITESH BHANSALI
NIFTY 1 DAY 1 MIN:NIFTY FUT OPENED ON NEGATIVE NOTE
