Nifty Ranges valid from 4th-8th June

3 июн. 2018 г.

Nifty Ranges valid from 4th-8th June. It is a wide range so trade carefully.

I have displayed 4 hour candles in the chart so the entire range is visible and yet the candle movement too can be seen on a day to day basis.

Also the Ichimoku Kinko Hyo should guide viewers about the bearish/bullish price action in the 4th-8th June trading week and accordingly set SL and targets based on the range levels.

As the week progresses you may have to press the <load new bars> button and adjust the zoom levels of this chart to clearly view the price action.

3 июн. 2018 г.

Заметка

Do notice the last four bars in the chart.

The first and fourth are Dojis indicating consolidation which could lead to a breakout.

The first candle was a kind of Hammer which led to the next bullish candle.

But this was followed by the next candle with a similar top shadow and bearish. These middle two candles form a Tweezer Top followed by a Gravestone Doji.

This could indicate a bearish trend to follow.

3 июн. 2018 г.

Заметка

The yellow stepped line is the 55 period Hul Moving Average. Currently it is below the price line so that is bullish. This is countered by the bearish candle formation I referred to in the earlier comment.

My advice is to wait for confirmation of trend with the breakout either below or above the Ichimoku cloud before entering a trade.

4 июн. 2018 г.

Заметка

Nifty has now formed a triple top and the developing candle seems to be a bearish belt.

I have anyway been trading short since May 15th with regular profit booking. Currently short positions since 31st May.

6 июн. 2018 г.

Сделка закрыта вручную

Closed all shorts yesterday 5th May, because of the Hammer candle.

7 июн. 2018 г.

Заметка

*Typo... it should read "Closed all shorts yesterday 5th June..."

7 июн. 2018 г.

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I guess it now a time for caution. Tomorrow is Friday and next week on Tuesday the Kim-Trump talks start which could lead to unexpected outcomes.

The Bank Nifty candle structure in the daily charts looks like tomorrow will be a down day and that will affect Nifty as well.

And the Nifty daily candle seems to me to be something of a Bearish Evening Star indicating a drop in the immediate context.

13 июн. 2018 г.

Заметка

These range levels are still valid for the next few days. Can be used to determine targets and SL.

21 июн. 2018 г.

Заметка

Range levels still valid as on 21st June