Something major spooked markets all over the world today. There are loads of theories out there. For Technical Analysts, it doesn't matter too much. 'We' just need to catch the change in sentiment in time.
The India50 - often called the NIFTY - made a massive trend switch - best seen on the 1H time frame. Big dumps like these usually see follow through - how...
Whilst the Indian market tends to follow the DJI a fair amount - as do other indices - there is major trouble with the virus in India, which probably exceeds that in America. (Expand the chart for a better view)
This is a market worth stalking. It may follow the DJI to some extent, but history has shown that it can do 'it's own thing'.
The current position is...
This is a 2H time frame set up. I show how this could be worth a shot south or a shot north (subject to your acceptable loss).
The estimated probability south is 55% - which leaves 45% for the north.
Disclaimers : This is not advice or encouragement to trade securities. No predictions and no guarantees supplied. Any previous advantageous performance shown in...
The Indians are looking weak on this 3D time frame.
The theory of curves says (at the moment) that price is losing steam for the north. South is the greater probability estimate. Note: this leaves a residual probability for the north.
Disclaimer: Lose your money and sue yourself!
This is the INDIA50. Lots of people are not interested in this but interest is growing. I show how I assess probability for the south for a short entry.
Disclaimer : As usual this is not a recommendation to trade securities or derivatives. If you lose your money kindly sue yourself.
I estimate the index exchange rate for a broad bandwidth movement of almost 4%. I look forward to rebuilding a fractal underneath. Since the current range of ATR is nearly 1.5 times the ATR of the lower fractal environment, so the newly developed fractal size can increase as much.
The Indian Markets are hardly every the topic of discussion on Tradingview. Most people look mainly for the DJI - cuz 'America is great'. For me, it don't matter; wherever there is an opportunity I'll pay attention. The Indian Market is in a precarious position right now.
I see some sort of expanding upward wedge. This can create probabilities for the north or...
The India50 is not one that's often talked about. I show how I estimate the price action and probabilities for a short position. As always if anybody is getting into this, prepare to lose! This is a loser's game - we can't win without losing, end of story.
The Indian stock market is not one I usually see talked about on Tradingview. However, it has been ripening for a short over the last few weeks. Markets decide their own course. Generally though the India50 appears to be weakening.
We are close to "make your mind up time" in NIFTY 50. Are you a right shoulder? Or are you the start of a new bull trend. If you're a right shoulder, we are close to the sweet spot for a short. Stoch RSI is overbought, curling over, 21 MA is down.
I will initiate short positions next week on a reaction high.
'Everybody' is watching the S&P500 and Wall Street. Some may have forgotten about the India50 (the NIFTY). It appears to be troubled. I've shorted at what I estimate to be a turning point (which is not advice for others).
If this falls, it could be ugly.
I don't advocate breaking one's trading methodology or rules. However, exceptionally I say that one can exercise some common sense and judgement in taking a position (subject to an acceptable stop-loss).
This trade picture is one such exception. Elsewhere I would have said that one can make exceptions....