iCharts Discussions

[vinay28]

at one time today, difference in sept and oct premium was about 82, which means operators are making it dificult for traders to carry forward long positions. Premium of about 22 with just 2 days to go means not much carried forward position as of now. Looks like we could see a big move in next 10 days.

[Pats]

While extended and extensive market analysis may create a sense of confusion, it should be remembered that sometimes simple knowledge of price mevement and RSI or MACD flags along with Local/Global clues may be more useful for the Nifty levels. After all simply, it is the matter of levels !


On 25th, market may give chances of trading on both sides, but applying strict SL may prove more prudent to avoid any losses.

[Pats]

A chart showing some of the Reversal Patterns - Bullish and Bearish both is attached.

Hope it can be helpful for new and old traders, as a handy tool to check Nifty or any Stock reversal, as the expiry is at the corner !

[saumya12]

[Pats]

[Pats]

Also, In Sept, 2012, Nifty started low and ended on the upper side of the drift. Again in Sept. 2013, Nifty started low and hovering around 5900, hence most of the brokerages are expecting a close above 5900 btw 5950 to 6000.

And if, Nifty has to fall-back to sub-5700 level ( a difficult proposition ), then a higer close is eminenent to trap more bulls for a spedier downfall !
Just a thought ! Market Manipulators may decide where to take the market !


Last 18-mnths Nifty chart is attached.

[Pats]

If Market stabilizes in Oct, BankNifty may surprize towards 12000 level, considering the contra view of some of the FII !
BN 3 mnths chart is attached.

[Pats]

For 27-sept,

if NS sustains above 5900 then long targets could be 5910, 5930 and 5960

and if sustains below 5860 then short targets could be 5850, 5830, and 5780

My reading is that Nifty may try to bounce upto 5928 and if bullish support is not sustained, then bears may step-in to short the market, as per the following intra-day range:

5835 - 5860 - 5880 - 5910 - 5940

[Pats]

Hi all,
Since this Thread title and it's contents have fulfilled it's purpose, this thread is permenently closed !

Thnks to all for the support and interest in this subject !

See you again !

[Pats]

Larger approx wave counts :
... W1 7000 to 9000 ... 2000 pts btw March16 to Spt16.
... W2 9000 to 7800 ...1200 pts btw Spt16 to Dec16.
...W3 7800 to 11170... 3450 pts btw Dec16 to Feb17.
... W4 11170 to 9950 ...1230 pts btw Feb17 to till now.

. ...And may be near completion or may complete near *9533 plus / minus 200 pts.
... W5 9533* plus / minus to 12366 plus / minus.
...I am a layman, and these are just approx counts and are *For Educational Purpose Only *
.. I may<underline> be wrong also !

[Niftyman]

What will be your comments, if I say that that W4 low has been done with.

[Pats]

@Nftyman , For sustainable upmove , a dip towards *9700 plus / minus is preffered. But if the w4 completion is done at *9950 recently as per your view, then we can safely assume that an upmove towards *10680 to *10778 zone plus may be posible in next 18 trading days or less time depending on global and local cues.
... Expiry may keep Nfty in a range for next few days.
... But attached chart show indecisive mood of option players in last 3 days and if bulls fail to intetest, then index may fall-back towards 34EMA *10392 to 89EMA *10407 range.
...Strong support is only around *10333 lvl.

[Niftyman]

Yes, rightly said
Nifty is likely to move in 10600 - 800 range in next 10 trading sessions, and then a dip to 10300/50 zone, only to rise again.
My view only.

[Pats]

There is a Gap resistance around 10630 to 10680 zone , it may be filled or ignored depending on bullish strength !
...By the way, What diff does it make if its Wolf or Elliot or Fibo or Camarilla or SuperTrend etc , as long as one is able to identify correctly in time and initiate a trade to pocket the profit in time !
.... For example in EW , I find w3 as the best point to go long or short depending on uptrend or dntrend , even after a delay of 2 or 3 trading days....Since w3 is an impulse wave it extends much longer for good profits.
... Just an observation !

[Pats]

Attached chart shows that daily Nfty is giving minimum 50 pts movements btw high and low points :
...11Apr High 10428 minus Low 10356 equals 62 pts.
... 12Apr 10470 - 10395 = 75 pts. .
... 13Apr 10520 - 10451 = 69 pts.
.. 16Apr 10540 - 10396 = 44 pts.
.... 17Apr 10560 - 10496 = 64 pts.
..... 18Apr 10594 - 10510 = 84 pts.
.... 20Apr 10582 - 10527 = 55 pts.
... 23Apr 10638 - 10515 = 123 pts.
Some savvy option players and futures experts are daily minting money , using differential play !
.... But retail traders either book loss or never ventures these days , because they do'nt have super-fast connections and lighting-fast trading systems !
....Now-a-days I myself try to do mostly intraday trades in both Nfty , BN and stock options collecting 10 - 15 pts with multiple lots , so that I can collect atleast 100 plus pts per wk !