HOW 4534 WORKED AND CANDLE POWER

AS mentioned 2 days back,,4534 was very crucial level for me,,as one can see the chart,,its very clear that 4534 worked nicely as supports first and as resistance yesterday and even today,

but finally in the last hour ,it was breached with good volumes.

a few days back ,i had posted a 1 min nifty chart, and written about what we can expect, after a steep rise ,we had seen from 3916 around.

I expected an accumulation phase, before reaching atleast 4700 first. looking at todays move ,

i think we are on the verge of achieving that target very soon.

BULLISH INVERTED HEAD & SHOULDER

4534 REGAINED FAST, IS A VERY GOOD SIGN

ON tuesdays ,nifty made a low of 4530 and jumped back sharply ,to around 4600,but couldnt close above the recent highs,,yesterday 4530 was beoken at open ,made nifty compell to travell much lower upto 4420 around, creating panic,but recovered smartly and today the same level ,worked a resistance initially ,seems to have nicely broken out.

the strusture since 22-07 seems tobe a nice rising channel ,should be broken on the upside in a next few days,to resume its upward journey.

A RISING CHANNEL

WATCH 4534 IN NIFTY

RELIANCE RESULT DISCOUNTED ??

There has been a significant change in leadership,among pivotals..especially in the last rally from 3916 around.larsen ,sbi,bhel,reliance have clearly been outperform by it majors, auto majors and the likes of icici bank and tata steel.
As shown in the charts of previous post,i think stocks like sbi and larsen and r-cap, are on the verge of a break..my favourate set-up suggests a BREAK-OUT..(on the upside)but the crucial answer lies , in weather reliance results are factored in the current prices or not.
today morning if reliance opens low and recovers fast..and stays above the lows for some time,we have the answer.
IN that case , we are clearly headed for the tgts at 4700 and 4850..soon.

TREND DECIDER LINES

4379 WAS THE HIGHER BOTTOM ?

TODAY during intraday markets i posted this comment on one of my thread on a very good forum...

Posted by: bjnaik on 23-JUL-2009 (10:51:44) [IP address: 240:243:217:----] generaly i avoid posting intraday,,but as i was talking abt strenth in dow in my article,,and a pause needed in our markets,,i think if we close here today around 4490 spot nifty,,we are going to see a blast in our markets one day in coming few days.

SENSEX SUPPORTS

THE PROCESS OF HIGHER BOTTOM FORMATION ??

After a massive 600+ points rally, from the bottom around 3916 to todays high at 4560 around,, markets needed atleast a pause,but the continued selling pressure dragged the indices down much more,,signalling it might not be only a pause,but it may be the case that the higher BOTTOM process has begun.
Readers should take note,that as on today ,i am taking the current rally, upto todays high, as a
new move ,instead of only a corrective rally.so not enering into the complexity of various elliott wave counts, and keeping the process of analysing markets very simple, i will suggest that the process of higher bottom formation is on..4379 for nifty was one high, which was crossed and has supported today ,so now once below this nifty has strong supports at 4309.
i would let the markets decide ,instead of me guessing ,where it wants to make a higher bottom.

CANDLE POWER FROM 1 MIN CHART TO DAILY CHART

I have put my comments on charts.i can see a lot of candle-power in the current rally,,one can only expect a PAUSE..as bulls will let bears enter to short,,,but if theres no big down candle in a few days,,expect a GOOD NEWS coming from somewhere.

how do i use candle power initiating a move ??

.,i just try to find out weather a move is corrective or a new move,,and try to do it starting from 1 min to all higher period charts,and i continue watching strenth gathering momentum from lower term chart to the higher ones.,,or weakness gathering momentum in the same manner.remember that i have posted 1 min charts,as i believe history repeats itself not only from time to time , but also in all timeframe charts

USING FIBONACCI RATIOS:::ONE TOP AT 16230

MY TRADING SYSTEM :::BUY CALLS ON 5 MIN CHARTS

hurdles crossed

both indices crosses their two important hurdles,1)falling trendline of channel 2) budget day highs,,,both done on closing basis,,i think there shouldnt be any technical hurdle as such before 4700...so any dip now should be treated as corrective in nature and buying opportunity only.

SENSEX AND 89 WEEK EMA

charts

A NEW BULL -WAVE ON THE CARDS, WHY ??

although theoritically,top h&s patterns targets were around 3750,12600 for nifty and sensex,last weekend ,i had a glance on dow chart,and i noticed one thing on daily chart of dow that there too was a top h&s in progress, but the neckline wasnt broken,and i have learnt to use multiple period charts to arrive at combination,i found that ,even if the h&s was to complete on dow daily chart,it will take a while, simply because,on weekly charts stochastics was in oversold zone,,leaving a little space to breakdown IMMEDIATELY.
NOW, that gave me a ready clue that our markets will take supports at those levels given immediately post budget..they were 3930 and 13334.....this assumption was supported by a FAILURE OF SYSTEM SELL CALLS ON RALIANCE 15 MIN. CHARTS....My trading system is unique in one way...that is DOUBLING AT STOPLOSS ,the simple reason behind this is ,,that the combination of different technical tools in generating buy-sell calls is so powerfull and so effective that it gives result on atleast 82% of times..(RESULT OF MY BACKTEST ON 1 MINUTE NIFTY CHART OF LAST 1 YEAR),,NOW if such powerfull system is stopped out,i understand that the forces ON OTHERSIDE..is so powerfull that it can easily give THE LOST points by doubling at sl.
i have while analysing learnt to use three things
1) multi time frame charts..(daily,weekly,monthly etc )and for intraday (1,3,5,15 mins)..as a COMBINATION.
2) MULTIPLE TOOLS..like innovative use of fibonacci ratios,,candle patterns , my system etc.
3) using different signals from major pivotals like (ril,hdfc,rel cap,tata power)
this helped me a lot ..at supports 3930...my sytem was generating buy calls in some leading stocks on WEEKLY BASIS...,a hammer formed on daily charts on indices,,and sell call in THE ULTIMATE LEADER RELIANCE ,STOPPED OUT.
AND i found the falling wedge (a bullish pattern ) on daily charts, with all those signals,,it generated a buy call in nifty at 3966..on last monday.so a bottom was called with targets from 4267 --4305-4360,,levels which were clear resistance levels from different angles.these were fib. tgts,,the neckline resistance levels,and the falling trendline of the down channel/flag.
NOW WHAT ???..if the presented weekly chart of nifty was a 5/15 min. chart..i wouldve given a fast buy call for intraday, with just a 5 point below the low as a stoploss.BUT this being a weekly chart,i would prefer to wait just a little for some strong confirmation on daily charts.clearly its my TRADING SYSTEMS buy call.a chart is also presented with this article on how have i arrived at tgts of 5190---5600 for nifty.
for DOW their are two/three positives 1 ) quarterly bullish pattern ,completed 2 ) a probable inverted h&s on weekly charts 3 ) a top h&s reversal on daily charts..have failed...this factor only has got some fantastic bullish probabilties.
for ,our indices there s a weekly bullish flag which has got a very BULLISH TARGETS.
here , i am re-publishing a few sentences from my article ,last sunday.
""AS on quarter basis, nifty has made quarterly MORNING STAR candle pattern,on the quarter ended june-2009...this implies that any fall in the coming quarter should be utilised as BUYING opportunity""
and
""NOW on weekly charts..as shown in the 2 weekly charts..we are coming nearer tothe gapped area and weekly stochastic is for the first time entering the oversold area,after the steep rise started from early march 2009.in my opinion this should be a good buying opportunity."""
I also said that monthly picture will be disturbing if it goes down till hns tgts straight away...and the bearish momentum will be arrested with 200-300 rally in nifty,,it could have been only a corrective rally...but with such a strong close ,its already a new BULL MOVE started.
for gap filling..i dont know if gap filling has tobe taken as a rule.and pivotals like reliance has alreadey filled up the post election gap.
BESIDES ALL THESE ,i would like to have a little bit confirmation on daily charts for the propsed huge bull move and last hurdle is the falling trendline in both indices,,.charts being posted in next post.
any reader interested in my services can add bhoom2tika in ym
　
　

nifty chart : a flag

NIFTY TARGET 5190

MY trading system works from 1 min to any time period chart,,if i get a little bit confirmation on daily charts in a few days...i can predict nifty target upto atleast 5190 in medium term future.as now i am getting a buy call in nifty on weekly charts.

NECK AND TREND LINE

CHOPPY MARKETS :NOT AN ISSUE WITH MY SYSTEM

NIFTY 3 MIN SELL CALLS

INTRADAY SYSTEM SELL CALLS ON NIFTY 1MIN

IS IT ONLY A RISE UPTO THE NECKLINE ??

WHAT NEXT ?? CHARTS

WHAT NEXT ???

AS the markets started to fall from the budget day..offcourse from the projected resistance levels of 4450-4470 and as per the projected top h&s reversal pattern..i had given final target zone of around 3700 in nifty and around 12700 in sensex...now theoritically as per the target calculations of the h&s pattern ,these were correct..also these levels are matched with certain fibonacci supports-targets and also as per the FILLING UP GAPS theory..everything was like bookish and ideal thing to happen.....
BUT this is exactly what markets dont lke ,ever..markets proves time n again..that theres a ""LOT OF WATER (money) IN THE SEA (markets)..BUT ALL IS NOT OURS ""AND its not that easy to earn..markets has this uncanny habits of not doing what EVERY STREET TRADER KNOWS...
AND here my experience and my system came handy..EXPERIENCE suggested that as everyone is talking of easy money shorting with tgts of 3600 around..markets will find some supports way before this.so i came out with sensex n nifty supports at around 13300-3930,than there was weekly stochastics which was getting oversold for the first time since the rise from march-09,i also had a glance at dow jones weekly charts ,there too stochastics was in highly oversold zone..than i was aware about quarterly bullish patterns,,and finlly i found BULLISH WEDGE (FALLING) EXACTLY AT MY SUPPORT ZONE.
SO, i said a bottom? and it was a bottom indeed.
NOW WHAT ??..instead of commenting much..i would let my chart speak.this rise could easily be the corrective rise up to thr h&s NECKLINE..there are overhead fibonacci resistances,upto around 4370, and then the falling trendline also will work as resistance.but looking at the strenth of current rally ,i would like the markets to pass on some time in the higher zone, around shown resistance area,and not to fall suddenly
READERS are again requested to view charts of nifty intraday posted here , and find out, how quick my trading system generated buy calls from the day nifty took support at 3920.
for more details abt the system...add bhoom2tika..in ym

A FIGHT BETWEEN PATTERNS,,H&S V/S BULLISH WEDGE

MY TRADING SYSTEM :: CAN IT MISS A BIG MOVE ???

MY TRADING SYSTEM:: BUY CALLS IN BHEL

INVERTED H&S ON INTRADAY CHARTS,A POSSIBILITY

if nifty doesnt trade below 4040, and especially dont give an hourly close below 4040..i think we are in for an inverted hns pattern on intraday charts,but a close above 4145 is an absolute requirement ,than i presume a tgt of 4203--4267 is achievable.

my trading system charts : nifty one minute