Thursday, August 27, 2009

Opening Update on Nifty - 27th Aug 09

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Author: Doji
Labels: ,
5 comments
Update at 12:54 PM:

Both the targets reached for this pattern.

~.~.~.~.~.~.~.~.~.~.~.~.~.~.~.~.~.~.~.~

Spot Nifty Intarady Chart - 5 mins:
Spot Nifty formed a butterfly pattern, it reached the first target immediately. Did not trade this as I missed the opportunity initially. By the time I realised the pattern risk/ reward went high.

5 comments:

Sujatha on August 27, 2009 at 2:14 PM said...

Any downside possible? Nifty 4700 with good volumes?

Expecting your valuable reply , nifty is dancing @ your first resistance...

Thanks and regards

Doji (Blog Author) on August 27, 2009 at 3:54 PM said...

Hi sujatha,

Target for the butterfly pattern was at the first resistance as I mentioned in the post, that is why nifty moved up with minimal volumes. Else as I mentioned in the pre-market analysis demand is reduced same thing happened later today.

- Doji.

Kameshwara Rao on August 27, 2009 at 4:37 PM said...

Hello Doji,

Your ABCD patterns on nifty and several stocks have been very interesting. I do not know much about the pattern and trying to understand the same. Do you have an afl for plotting this pattern?

viju on August 27, 2009 at 6:18 PM said...

Hi doji good evening thanks for posting 4 th august tick data kindly post the regular earlier 27-28 August. thanks for the co-operation which you are doing to every traders

Sujatha on August 27, 2009 at 7:39 PM said...

Thank u for your reply... that too with a little good news "demand is reduced"

So, shall i take it as -ve signal? Newbie to TA

Thanks and regards

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