NIFTY monthly chart as seen after drawing SCHIFF PITCHFORK .
WE can observe few things here:
1) The median line is very strong support and candles in the past clustered around the median line before a bounce.
2) Whenever Nifty went to the +50% line (upper half) it reversed. It happened 2 times, i.e late 2010 and early 2015 (marked for your reference)
3) Most of the times NIFTY has been trading in the upper half of the pitch fork .
4) The angle of inclination of the median line is apporx 14 to 15 degrees indicating slow and steady growth over the years.
WE can observe few things here:
1) The median line is very strong support and candles in the past clustered around the median line before a bounce.
2) Whenever Nifty went to the +50% line (upper half) it reversed. It happened 2 times, i.e late 2010 and early 2015 (marked for your reference)
3) Most of the times NIFTY has been trading in the upper half of the pitch fork .
4) The angle of inclination of the median line is apporx 14 to 15 degrees indicating slow and steady growth over the years.
Комментарий:
More observations and suggestions are most welcome :) _/\_
Комментарий:
This chart suggests Nifty could see more upside in days to come
Комментарий:
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Nifty moving towards the +50% line!
Lets see if its going to touch it this time again. If it touches then is it going to break it or bounce back.
Nifty moving towards the +50% line!
Lets see if its going to touch it this time again. If it touches then is it going to break it or bounce back.
Комментарий:
Nifty moving towards the 50% line
Комментарий:
pitchfork still valid
Комментарий:
Moving towards the median line
