Check out the Charts and Observations for trading forward .
The Daily chart gives the Positional Support zone by EW and Fibonacci . The 200 dma now to act as Resistance .
The Weekly 5ema chart gives the Positional levels for Trading.
The Volume Profile gives the game changer level for the short term.
The Weekly chart below gives the alternate bearish EW count first analyzed in March 18th post - Click Here , which was followed in April 15th post - Click Here .
Trend is Down , Range expansion and Volatility expected ( keep an eye on ADX, ATR ,VIX for it ) . Use 'Trend following' indicators and methods for profits now .
8 comments:
Dear RV!
As usual, very good analysis.
Rgrds
Kumar
Dear Kumarji,
Thanks for patiently going through all posts and leaving your positive comments.
Regards
aarvee..do u be;ieve that we could actually close all the gaps til 4640
Hi Jonak ,
Its not my belief or anyone's that will give direction . We can only follow the trend now keeping the invalidation in mind . Having a strong bias for any one probability will be a hindrance in flexibility and objectivity.Let TA show the direction and we follow it.
As the caption of the post says -Anything is Possible !!!
better late than never :-)
good analysis rv
Hi PS ,
Thanks.
Always welcome ,whether late or otherwise :)
Few observations -
1. Close below 200dma , sensex closed continously for three days below it.
2. Volume increase with today's fall. NF added 9% +
3. Channel (old one) top trendline to be tested tmrw.
4. FII sell in cash as well as in Index futures. NF sell is net apprx. 1800 cr. since start of series.
5. 5085 now becomes game changer.
6. Below 4950 , 4880 is a good probability as also calculated in chart above ,4945 and 4880 are both previous gap fills in dec-jan rally.
7. Part book at supports and ride the trend on downside till reverses.
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