Friday, August 28, 2009
Nifty Intraday Technical Analysis for 28th Aug 09
,
Spot Nifty Intraday Chart - 5 Mins:
Nifty Futures opened gap up marginally and formed a Symmetric Triangle with declining volumes which I have posted in intraday. It gave a break down with volumes and reached the target immediately. From the target it formed the Butterfly Pattern with good symmetry and with minor deviation in Fibonacci ratio. Nifty zoomed up later to reach the targets of this pattern. Over all a very good day, both the targets reached giving a handful of profits.
Subscribe to:
Post Comments (Atom)
6 comments:
Amazing analysis doji!! Great!! you should start a paid service. I will be first one to subscribe for it.
Anyways thanks for giving good explanation of things.
Vinay
n_win_i@hotmail.com
Hi Vinay,
Thanks for the nice words.
I dont want to get into obligations with a paid service etc. As my time and energy permits, I will post what I got and my blog will always be free. Cheers!
Doji
Dude vinay, I have seen many bloggers start and eventually end, either with paid blog or just like that. Why do you want to provoke Doji and make this a paid blog? :-) Learn, make money and enjoy as long as all good things in life last.
Best Regards,
RAM
In butterfly pattern where do we take entry position?Do we wait for the earlier pivot to be taken out?
Hi Doji , I m folowing this blog since few weeks.
You guys are excellent analyst & believe me people has asked thousands of rupees for teaching stuff . But u r simply explaining things .
Thanks for your humble effort
Keep it up
@Sidharth Aurora,
it depends on the situation. In this case Nifty formed a small bullish Wolfe wave in 1 min time frame (not perfect) gave good entry signal for the butterfly pattern. I have entered long at 4664.
Hi Falgun, Thank you for your nice words.
-Doji
Post a Comment