Three-Line Price Break charts are mainly used to confirm the underlying trend, trend-reversals and the balance of supply and demand. Two important points to consider while using 3LPB are the timing of the 'reversal bar' and 'confirmation' of the trend. In the attached 3LPB chart, Bullish trend reversal is above 5094.15. And the present bearish trend will continue if price slides down below 4853.10.
--- On Mon, 2/1/10, Jayakrishnan <jayakrish2001@ yahoo.com> wrote: From: Jayakrishnan <jayakrish2001@ yahoo.com> Subject: NIFTY To: Technical-Investor@ yahoogroups. com Date: Monday, February 1, 2010, 11:04 PM Today's Histogram divergence suggests that despite the rise , the momentum is loosing its strength.
Jk.
--- On Tue, 1/26/10, Jayakrishnan <jayakrish2001@ yahoo.com> wrote: From: Jayakrishnan <jayakrish2001@ yahoo.com> Subject: NIFTY To: "Technical Invesstor" <Technical-Investor@ yahoogroups. com> Date: Tuesday, January 26, 2010, 5:38 AM Kindly read the comments in CCI window.
Jk.
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Keep it simple.
--- On Sat, 1/23/10, Jayakrishnan <jayakrish2001@ yahoo.com> wrote: From: Jayakrishnan <jayakrish2001@ yahoo.com> Subject: Re: NIFTY To: Technical-Investor@ yahoogroups. com Date: Saturday, January 23, 2010, 10:02 AM
The attached chart is self explanatory.
Jk.
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Keep it simple.
--- On Fri, 1/22/10, Jayakrishnan <jayakrish2001@ yahoo.com> wrote: From: Jayakrishnan <jayakrish2001@ yahoo.com> Subject: NIFTY To: "Technical Invesstor" <Technical-Investor@ yahoogroups. com> Date: Friday, January 22, 2010, 4:48 AM Nifty halted two points short of 38.2% retracement and closed below 55 EMA support.
In the context of Yesterday's fall in US markets, which was greater than day before yesterdays, for Nifty it seems to be only a night halt at 55 EMA support. No wonder if it touches Dec 21st low of 4940 levels.
Jk.
--- On Wed, 1/20/10, Jayakrishnan <jayakrish2001@ yahoo.com> wrote: From: Jayakrishnan <jayakrish2001@ yahoo.com> Subject: NIFTY To: "Technical Invesstor" <Technical-Investor@ yahoogroups. com> Date: Wednesday, January 20, 2010, 10:55 PM All the momentum indicators are bowing down their head. I feel, once 5170 is broken (possibly tomorrow, if the same intensity of fall in world markets prevails here) EMA 55 could provide major support.
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