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Diamond Formation |
opportunist
White Belt
Joined: 27 Apr 2010
Posts: 356
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Post: #1  Posted: Wed Mar 09, 2011 5:56 pm Post subject: Diamond Formation |
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| Nifty should fall now..probably to where it rose from, that is 5220 levels. |
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opportunist
White Belt
Joined: 27 Apr 2010
Posts: 356
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| Post: #2 Posted: Wed Mar 09, 2011 6:17 pm Post subject: But am I right? |
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| But I still have doubts regarding my own analysis...primarily because Bollinger bands are pointing upwards a bull signal. But then Bulkowski says that Diamond pattern failures are the lowest of all chart pattern failures. |
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opportunist
White Belt
Joined: 27 Apr 2010
Posts: 356
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| Post: #3 Posted: Thu Mar 10, 2011 2:48 pm Post subject: confirmation |
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200 EMA almost flat and 50 EMA below 200 EMA (refer 'Criteria that supports' in http://www.trending123.com/patterns/Diamond-Top-Chart-Pattern.html)
Also 13th is half moon and supposed to be the next bottom as per Delta. So 14th will be the bottom. Assuming fall will continue today (10th) tomorrow (11th) till monday(14th). Why not low on 11th itself? because 14th is closer to 13th  |
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sharemuthu
White Belt
Joined: 21 Aug 2009
Posts: 154
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| Post: #4 Posted: Thu Mar 10, 2011 5:01 pm Post subject: |
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| opportunist thank u for giving a new tool |
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opportunist
White Belt
Joined: 27 Apr 2010
Posts: 356
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| Post: #5 Posted: Thu Mar 10, 2011 5:31 pm Post subject: |
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It may also be noted that despite my reservations yesterday (9th March) the daily TF on 10th March behaved the way it was expected as per the analysis and closed red. But it is clearly seen that almost the entire day was Flat after the initial fall .
Seems the market was as confused as me as to where to go |
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seshareddy
White Belt
Joined: 06 Jan 2009
Posts: 95
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| Post: #6 Posted: Fri Mar 11, 2011 6:05 am Post subject: |
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today you are going to get your tgts as per this pattern
iam going to short below 5464 and keep it till monday
seshareddy  |
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tripathi_manu
White Belt
Joined: 27 Dec 2008
Posts: 62
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| Post: #7 Posted: Fri Mar 11, 2011 8:44 am Post subject: |
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| seshareddy wrote: | today you are going to get your tgts as per this pattern
iam going to short below 5464 and keep it till monday
seshareddy |
Dow s&p dax. all have broken UTL. on daily basis. ....
manu |
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ridinghood
Yellow Belt
Joined: 16 Apr 2009
Posts: 724
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| Post: #8 Posted: Fri Mar 11, 2011 9:24 am Post subject: |
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Sesha sir
what sl u will put for ur nifty short below 5464? is it spot rate or future rate?
regs
ridinghood |
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nand67
White Belt
Joined: 28 Jun 2009
Posts: 4
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| Post: #9 Posted: Fri Mar 11, 2011 10:50 am Post subject: DOUBLE BOTTOM |
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| It is double bottom pattern and should break out on upside. On breaking 5600 level on closing basis we may achieve 6000+ level. |
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sharemuthu
White Belt
Joined: 21 Aug 2009
Posts: 154
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| Post: #10 Posted: Fri Mar 11, 2011 10:54 am Post subject: |
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Double bottom  explain with chart . i could not find any double bottom  |
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