LONG TERM----- (As per monthly charts) ----
· Last swing high is at 5400 and swing low is at 4728.
· The trend is down and the termination level is at 5400.
MEDIUM TERM----- (As per weekly charts) ----
· Last swing high is at 4801 and swing low is at 4588.
· The trend is down and the termination level is at 4801.
SHORT TERM----- (As per daily charts) ----
· Last swing high is at 4795 and swing low is at 4687.
· The trend is up and the termination level is at 4687.
· The targets are 4810, 4840, 4870.
Sp. Notes---
· Swing low----- occurs when Nifty closes in green. (Lowest low of last two days will be Swing low.)
· Swing high----- occurs when Nifty closes in red. (Highest high of last two days will be Swing high.)
· Uptrend---forms when we have higher swing low and we trade above last swing high.
· Downtrend---forms when we have lower swing high and we trade below last swing low.
· Corrective up move---forms when in downtrend we trade above last swing high without making higher swing low.
· Corrective down move---forms when in uptrend we trade below last swing low without making lower swing high.
· All levels are as per Nifty spot only.
4 comments:
Hi Jignesh Sir,
Thanks for the trend analysis. Is there any AFL to find the swing points. Please guide me, how to identify.
Sp. Notes---
· Swing low----- occurs when Nifty closes in green. (Lowest low of last two days will be Swing low.)
· Swing high----- occurs when Nifty closes in red. (Highest high of last two days will be Swing high.)
· Uptrend---forms when we have higher swing low and we trade above last swing high.
· Downtrend---forms when we have lower swing high and we trade below last swing low.
· Corrective up move---forms when in downtrend we trade above last swing high without making higher swing low.
· Corrective down move---forms when in uptrend we trade below last swing low without making lower swing high.
VK
Dear VK,
I have no idea about AFL as I am not using any software. My swing analysis is based on price, so no need for any charts.
bye
Dear Jignesh,
Please help me to understand the above sp notes with charts/examples values.
- uptrend, downtrend, corrective up move, corrective down move etc.
Thanks in advance
VK
please look at following posts
http://www.niftydoctor.blogspot.com/2011/02/trend-watch-feb-9.html
http://www.niftydoctor.blogspot.com/2011_04_01_archive.html
thanks
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