This is the 4th Big correction in the past twelve months and each of them are shown in purple rectangles.
Each correction has so far done the stipulated 600-650 points, the normal correction of the NSE generally.
Time wise also the two corrections are spaced out in the correct order and seem to be following the same pattern again.
I've also included the 50 Sma and the 200 Sma for a trend check and we have defended the 200 sma successfully near 5614, the traditional line that differentiates the bull and near markets.
So the Boxes and the sma seem to say that the correction is over.
Will markets listen to History?
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5 comments:
shai, i am unhappy with you as you didn't keep ur promise and kept changing the charts from the compressed mode to the uncompressed one. you took away quite a few trade opportunities from me :-) seriously, you need to find out a way here where someone wants to see either compressed/uncompressed view - they can do so - i have been studying the compressed versions now and take trades quite confidently but with the uncompressed ones - you just tend to see that green/pink/blue/red initiation but where it will go/where it will end - it is not at all clear - but with the compressed ones, one gets a fairly clear idea as the mkt. follows certain symmetrical way....i hope i won't have to remind again and again....it doesn't look good on my part
Shai,
There is one very obvious but profound difference this time.
Box 4 has reversed from a Lower-High this time.
@Janak,
To the best of my knowledge, the charts were in compressed mode and if you recollect changes were made so that everybody could see the orderflow changes taking place.
Alphabet 1,
Yes it's got a lower high and a lower low this time around.
new post on OF charts
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