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  #21 (permalink)  
Old 22-02-2015, 12:46 PM
ashis_ch ashis_ch is offline
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Originally Posted by Sunshine View Post
Hope one more mis-analysis will not do any harm to the thread .
Divergence in RSI .

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Old 22-02-2015, 01:07 PM
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Originally Posted by Sunshine View Post
Hope one more mis-analysis will not do any harm to the thread .
Divergence in RSI .


simply amazing .........
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Old 23-02-2015, 11:49 AM
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@SS div keya huya ....
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Old 23-02-2015, 06:32 PM
ashis_ch ashis_ch is offline
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Nifty had a sharp fall today. On Friday Nifty gave bearish bar which forced to turn elder impulse into blue, which means bias turns from upside to neutral. Today it has turned into red. It seems market is very likely to touch 8600 in no time. On 28th the budget for the next financial year will be announced, so market may remain volatile for the next few days. As I said earlier ,it's better to avoid trading on the long side.
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Old 05-03-2015, 07:45 AM
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For me this is a screaming sell signal in Nifty. There is a huge MACD negative divergence on the nifty spot chart. On wednesday nifty couldn't hold above 9000 level and gave a selloff. We can see a huge red bar , that made a bearish engulfing pattern. Elder impulse became blue , allowing us to go short. Even there is a nice negative divergence in 13 period force index. Let's see what happens today as this will be a long weekend for Holi. Haapy Holi to you all.
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Old 09-03-2015, 10:04 PM
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Like I said , a sell signal the market has shown a couple of days back. Today Nifty has shed some 180 points or so!!! For me, the market most likely to go to 8670. If I see breakdown and then a sharp upmove above that level, I will consider it as a false breakdown to shake off the bulls , or else some more downside may come. Trade safe.
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Old 12-03-2015, 09:39 PM
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Seems downside is over for the short term , there is a possibility of an upside from here. Although market may go down for one last time before it goes up to shake out weak bulls. I will change my view only If Nifty is able to close below 8650. Till then there is a good possibility of an upside. A reversal bar ( doji. hammer etc.) is very desirable here. Tomorrow is the last day of the week. Let's see what happens.
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Old 14-03-2015, 12:06 PM
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In my previous post I said that I will remain bullish till Nifty is unable to close under 8650. And the very next day Nifty did it , closed at 8647.75. Market has shown us what it is able to do. There was more than 200 points swing between high and low on Friday. On this weekly chart we can see some very strong bearish signals. MACD lines on weekly char has shown a bearish cross. There are multiple Macd Divergence can be noticed. Also a couple of pinbars have been formed at high. These reversal bars are strong signal of weakness on weekly charts.



On this daily chart Nifty is able to close below a very important point and that is 8650. I am bearish now after seeing all these signals. The Macd histogram is under zero line and the Macd llines are sloping down. I think Market is very likely go under 8400 from here and even more. Will watch how market unfolds day by day. Just remember downmoves are much faster and merciless than upmoves , so better to trade safe.
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Old 21-03-2015, 07:47 PM
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I became bearish when the market couldn't hold above 8650 level and closed below it. Nifty has shed another 70 points or so to close below 8600 level. Now what ? Weekly MACD line and histogram (not ahown here) is having a downward slope. A sign of bearishness. Daily chart is not looking good either. It seems more downside to come in near future. The level to watch is 8450 (lower channel line). Meanwhile, Nifty 30 minute chart has created an interesting pattern.



This is called a "Vomiting Camel patten". Although it is looking more like a Dinosaur in my drawing. I dont have much knowledge about this one, I think it is a bearish pattern in 30 min chart. Yet I think on Monday there is a good chance for the market to give a bounce upward. If Nifty fail to produce a green bar on monday then it may slip down a bit far from this level too fast. Trade safe.
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Old 21-03-2015, 08:14 PM
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Originally Posted by nTuple View Post
camel dyno pattern == Elephant 8300 max

What after 8300 ?
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