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Monday, April 2, 2012

BB 13 update and other patterns.

BANDS dont lie.....granted it was not an exact touch of the lower band when we went low this time...but still these bands were the only thing that told me that market direction was down when confusion another touch of the top ....and since 1)...we have touched upper level...2).WW target HIT....3)rally built on short covering as OI has been decreasing ..........So now we should see another good down move....but not expecting the 5135 low in NS though.

Now I got some fractals which can be useful. First the current upmove in hourly chart .

Now watch a couple of daily charts from past .

One more from sometime back .

In both of the daily charts , we got around 75% of the rally retraced. I am expecting a simlar move in this rally. Also we see that the consolidation area is broken easily . The lower level of the consolidation area of current rally is at 5308 in futures chart. So expecting to break that .


  1. Bollinger bands look worthy of MORE PROBING;
    can u suggest further readings?
    Ps: Inspired by your few posts, had been looking at chart with BB5 & BB8.

  2. i also had a look at bollinger 5&8...i dont think they are working that well....i also feel that bollinger bands should be used in corrective period and not in Trending could also watch 21,34 hour bands, in hourly ,5 hour , and daily

  3. i mean 21, 34 period bands in hourly , 5 hour , and daily

  4. Thanks, was just exploring . Shall be trying.
    How do one save chart in for sharing ?
    Ur call was good but market seems more bullish.
    Carry extra 1000 nifty shorts.

  5. in forex pros....u have one last BUTTON in 2nd row in menu ...called "DETACH CHART" on that...the chart becomes large taking the entire screen....take a it in PAINT as picture file....then from the saved location u can upload

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