Showing posts with label Aggressive trades. Show all posts
Showing posts with label Aggressive trades. Show all posts

Monday, January 16, 2012

Nifty, trending up along the trendline, closes above 50sma

Nifty moved down in the initial hours and held the "rising trendline" @ 4827 and bounced off to close above 50sma but fell short to clear the 80% mark @ 4885.
Markets are mysterious for the simple reason that it is driven by the million mind's perception in terms of fear and greed. When you decide that you figured it out using one set of studies, it shows a contrasting reading in another set of studies.
Taking a comprehensive approach to it or simply giving more weightage to the higher T/F would help you to take advantage of the lower T/F price swings.
VIX, the fear index is trending down in a channel.
Daily TA is keeping up its closes above the trend no:(DEma) and the momentum no:(DHEma). I keep repeating this most important technical factor that only "Closing prices" impact the TA set up. This is not a rule but it works almost 90% of the time. Ignore the sideways mode as nothing works during such a mode except the supports & resistances strategy.
4820 is week pivot; 4831 was DEma - our Pre-Market buy zone and market fell right into it and bounced off towards 4885.
4910-40 the earlier cluster support is now the resistance point.

Elliot's Impulse waves.(Part-5)

IMPULSE WAVES :- The Basics Waves that move the market in the direction of its main trend either up or down are called Impulse waves. 1....