ENTRY OF BULLS SEEN IN NIFTY ARE THEY STRONG OR WEAK !!
COMPARING MY YESTERDAY STATEMENTS WITH TODAYS REAL PRICE MOVE.
1. In my previous post I said in point no.1 a ref line in daily chart is intact so market can move down . it means one has to be in shorts till this yellow ref line is intact. But when in day after 1.30 nity cahnged its sentiments by breaching it ,there was no logic to be short. That is why given this for trend refrence.
2. In my 2. no point I made you clear to see in daily chart not on small time frame chart . Some of the traders were trying to use it on 1 hr time frame. Actually on smaller time frame it will create illusion in price action. Because it is not trendline which is made with joining of two points. That is why is ref line not trendline. One should carefully follows instructions given on fig . You will never fall pray to greed and fear. These instructions will help you keeping them away while trading.
3. This is my experince which I put in form of zones, support and resistance. If you follow all instructions , you will find trading easy.
4. Now see this ref line is breached so the down trend is stopped for time being. see a red white dotted zone which acted powerfully as support in last few days so this time it should act as resistance. Therefore, I feel that tomorrow market may not form big bearish candle but this zone will not be taken out . Can form some small range bound candle.
5. Nifty can breach this red and white dotted zone but should close below upper end of this zone for bearish sentiments. On the contrary if it do not do this then shorts sentiments can be changed. I think nity can spend some time here. Rest market will decide.
YOGESH VATS
1. In my previous post I said in point no.1 a ref line in daily chart is intact so market can move down . it means one has to be in shorts till this yellow ref line is intact. But when in day after 1.30 nity cahnged its sentiments by breaching it ,there was no logic to be short. That is why given this for trend refrence.
2. In my 2. no point I made you clear to see in daily chart not on small time frame chart . Some of the traders were trying to use it on 1 hr time frame. Actually on smaller time frame it will create illusion in price action. Because it is not trendline which is made with joining of two points. That is why is ref line not trendline. One should carefully follows instructions given on fig . You will never fall pray to greed and fear. These instructions will help you keeping them away while trading.
3. This is my experince which I put in form of zones, support and resistance. If you follow all instructions , you will find trading easy.
4. Now see this ref line is breached so the down trend is stopped for time being. see a red white dotted zone which acted powerfully as support in last few days so this time it should act as resistance. Therefore, I feel that tomorrow market may not form big bearish candle but this zone will not be taken out . Can form some small range bound candle.
5. Nifty can breach this red and white dotted zone but should close below upper end of this zone for bearish sentiments. On the contrary if it do not do this then shorts sentiments can be changed. I think nity can spend some time here. Rest market will decide.
YOGESH VATS
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