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Island Formation In Nifty spot |
ktpillai
White Belt
Joined: 23 Nov 2007
Posts: 95
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Post: #1  Posted: Tue Oct 04, 2011 6:34 am Post subject: Island Formation In Nifty spot |
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singh.ravee
Yellow Belt
Joined: 12 Aug 2010
Posts: 678
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| Post: #2 Posted: Tue Oct 04, 2011 8:29 am Post subject: |
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ktpillai,
To the best of my knowledge, island top reversal is after a protracted upmove.
For me the upmove is missing and i will personally, not treat it as island top reversal.
rgds
ravee |
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #3 Posted: Tue Oct 04, 2011 9:17 am Post subject: |
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| singh.ravee wrote: | ktpillai,
To the best of my knowledge, island top reversal is after a protracted upmove.
For me the upmove is missing and i will personally, not treat it as island top reversal.
rgds
ravee |
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vipul.kaji
White Belt
Joined: 23 Apr 2009
Posts: 1
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| Post: #4 Posted: Wed Oct 05, 2011 9:29 pm Post subject: NIFTY STUDY AS ON 05OCT11 |
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Have tried RETRACEMENT [between 10Aug & 26Aug11]on a NIFTY Chart which is attached below:
As can be seen from the Nifty Chart, NIFTY is trading between 4720 and 5170 for last two months, within 450 point range.
It has tried TWICE to go above 5170 [08Sep & 21Sep11] and also tried TWICE below 4120 [26Sep & 04Oct11].
So my advice to fellow trader is go LONG around 4720 and go SHORT around 5170, but only on return from this two levels.
Happy trading.
Last edited by vipul.kaji on Wed Oct 05, 2011 9:59 pm; edited 1 time in total |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #5 Posted: Wed Oct 05, 2011 9:38 pm Post subject: |
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| u mean 4720 |
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