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NIFTY analysis : SHIFT OF TREND

NIFTY : Price ended it's uptrend after 1.5 years of run-up

The index has been flying upward with a clear uptrend making smooth higher lows & higher highs & the best part of this uptrend is that for last 1.5 years price has never broken it's previous higher swing low & only kept on breaking it's swing high's. But last few weeks back, the story changed when price has broken it's previous higher swing low for the first time & started printing lower highs with lower lows. Hence we can clearly see "THE SHIFT OF TREND" from up to down. This chart is a great example of how powerful trends are & when you start reading price action, you see it all what's going on there. We would not be able to trade all 11 consecutive swings here to join in the uptrend but most of them were possible to catch when you see a trend is so predictable to play out. In coming days, we're going to play the recently created downtrend momentum the same way using it's pullbacks & breakouts till price show us the clear path of downward momentum with lower lows & lower highs. For basics of trend trading read : (learn – How to find a trend)

SUMMARY : READ price momentum context – RECOGNIZE the pattern going on – TRADE the pattern till it ends and to learn it all join me in my MEMBER FORUM & trade with me realtime using higher & lower timeframe charts.

PLS NOTE : All chart analysis posted here are the author's own idea of trading for educational purpose only &  not any form of advice or recommendations or opinion to anyone.

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September 3, 2015

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