Sumit Verma Profile picture
Jun 14, 2017 151 tweets 111 min read Twitter logo Read on Twitter
#Nifty50 Index chart shows "Step and Stairway pattern" Image
Classic Bullish Reversal #Nifty Image
HangSeng too showing Trend Continuation Bullish reversal pattern.. Image
This isnt Bullish anymore. Image
Updated chart of #Nifty post reaction from medium term moving average. #TrendFollowing Image
8th time above 70 (14 day RSI)... is the index gearing up for an explosive move? #Nifty (Current Trend : Up) Image
Only 70pts up... 🤦🏻‍♂️ I thought it would be _ _ _ pts minimum.... Anyways. #Respect what market gives.
Its Bull Market and its #Friday. The question is whether Open=High of 9913.30 in #Nifty will stay for the day? #Friday close very important.
"Explosive" #NIFTY Image
#Nifty updated chart. Looks overbought now. "Negative close after a positive event".. not a good sign. Might take a breather. Image
A closer look at the chart. #Nifty Image
#NIFTY updated chart. Some pain witnessed today. Test of 2 month MA will be good as a pullback. Image
9 day survival above 10000 levels ended today. #nifty50 Image
#Nifty updated chart.. a 'probable' time sequence may work. (may work.. lets see)

"Trend is not over until it says its over" - (2 month MA) Image
#NIFTY - 'probable' falling trend channel. Will wait for longs until reversal is confirmed. Until that happens, correction continues. Image
Before placing a "BUY" order, one must ask "Gap down below 50 DMA and a Weekly Largest bearish candlestick? are these Bullish sign? #NIFTY Image
#NIFTY - is the market price structure preparing itself for "BLACK MONDAY"? Whatever it may be, lets be prepared. #RiskManagament
#NIFTY's gap down close below 50DMA - Bearish sign for me. Top 500 stocks's 10 day Advance/Decline ratio is at .60 = Bearish signal. ImageImage
Market reversed and re-aligned itself in the direction of previous trend. Hence, view changes to "Bullish". #Nifty (Crucial support 9750) Image
System signal reversed to Neutral. #Nifty #TrendFollowing Image
It is not yet a "NEUTRAL" and oversold chart. That would be "Buy" signal. Last three year System chart @WeekendInvestng Image
300pts correction in last 13 days.. is it significant or more weakness pending? Key reversal level on close above 9905. Support level -9470 Image
@WeekendInvestng 3 /4 Timeframes r showing bearish signal based on Trend Following (system 2) on #Nifty. (Its better to be a system follower than ASTROLOGER) Image
It looks like it is not going to be a smooth ride anymore.
Non-Volatile Uptrending momentum has ended. ImageImage
Updated #NIFTY chart. No clear view at current levels. However, anticipating a Bullish pattern to form. Image
@WeekendInvestng 3 out of 4 timeframes are now Bullish on #NIFTY Image
@WeekendInvestng #Nifty - Three out of 4 timeframes continues to remain Bullish - already up 90pts since signal. Weekly reversal is a #Bullish sign. Image
#Bullish Price pattern fairing well as of now. #Nifty Image
#Nifty : non-trending phase. No clarity on final direction yet. Failure of previous Bullish pattern. Image
@WeekendInvestng Trail SL hit with +30pts. Now 2 timeframes #Bullish and 2 timeframes are #Bearish. #NoTradeZone #Nifty Image
@WeekendInvestng Nifty Future retested Previous week's Average Traded Price and reversed (nearly 75 pts). It should now act as strong support. Lets see. ImageImage
#Nifty Updated chart. Image
#Nifty and #Banknifty updated chart. No clarity abhi tak. #Nifty500 and #NiftyMidcap100 are #Bullish as of now. ImageImageImageImage
#Triangle pe #Triangle .. When will it actually move? Be it any direction.. #Nifty Image
Movement since 8th August, 2017 - Grinding in nature. Now rallies are shrinking as well as Declines. #BigMove anytime. Image
#Nifty - Is the Big move done? I doubt. I maintain #Bullish stance. High probability of new unseen levels likely. Image
Update chart of #Nifty - Its been 30 day since the index hasn't made a new 52 week high close. Image
#AllTimeHigh today. #Nifty - uptrend intact. Image
Important levels for Trend change in important indices #Nifty #Banknifty #NiftyMidcap100 #Nifty500 ImageImageImageImage
Two indices made lower low, two indices havent. Image
#Nifty updated chart. It is still well inside the "minimum" price / time band post which market may see momentum. Image
#Nifty - 52 week high Breakout failure - warning signs. Need to see the otherside of the trend too. (If Closes below 10050 - cautious) Image
#History repeated. Again a 9 day survival above 10000 landmark went for a toss. #Nifty Image
#History repeated again... #Nifty Image
Apart from Midcap index, all indices fell almost exact number of points as they did earlier. #Nifty #Banknifty ImageImageImageImage
"Non-Trending and Volatile period" continues. #Nifty still inside the minimum price/time box. Momentum only after that. Image
Interesting setups forming in all major indices.. #Nifty #Banknifty ImageImageImageImage
Interesting setups yielding rewards. #Nifty ImageImageImageImage
Updated charts - #Nifty - 9950 is now a strong support. ImageImageImageImage
New Supports are now at 10015-10080 zone. #Nifty Image
New Support - 10120 for #Nifty Image
#Nifty new support: 10310
RSI (14): 70
Distance from 20 EMA: 203pts

Daily Trading range shrinking since last 4 days. Image
Updated charts of #Nifty and #Banknifty ImageImageImage
#Nifty chart Image
#NIFTY and #Value index charts ImageImageImageImage
#Nifty updated chart Image
#Nifty and #Value index charts. (possibility of a Lower Low failure?) Price action post #RBI policy will set new direction. ImageImage
Updated chart #Nifty Image
Updated charts : #Value and #Nifty index ImageImage
Updated charts : #Nifty and #Value index (Accumulation / Distribution signals have turned Bullish) ImageImageImageImage
Updated #Nifty and #Value index charts ImageImageImageImage
#Nifty and #Value Index charts.

Pattern sequence:

Swing Contracting pattern...

"When the TIME is up, market must REVERSE." ImageImageImage
#Nifty and ATP (Average Traded Price) charts ImageImage
#Nifty #ATP #Value charts (Uptrend continues) ImageImageImage
#Nifty - Big picture probability ImageImage
#Nifty Weekly - Breakout Image
#December Expiry Options data - Bullish chart #Nifty Image
#Nifty charts ImageImageImage
Updated charts:
#Nifty (Closing line, High-Low sequence and Steps)
#Value (Percentage high-low volatility) ImageImageImageImage
Updated charts #Nifty ImageImageImageImage
Updated #Nifty charts and Value index ImageImageImageImage
#Nifty near Target level of 10800.
#Banknifty showing fresh breakout.
#Midcap100 - lacklusture
#Value Chart - overbought
#Step&Ladder chart - new Step Up

#Uptrend is strong but.. ImageImageImageImage
#Nifty breached Target and reacted..
#Banknifty is still showing fresh breakout.
#Midcap100 - formed complex H&S pattern
#Value Chart - showing increase in volatility
#Step&Ladder chart - new Step Up

#Uptrend is intact but.. ImageImageImageImage
#Nifty updated chart. Image
#Nifty Charts - Monthly, Weekly and Daily ImageImageImage
#Nifty and other indices charts. Retracement of 100% price move in less than 50% of the time is not good as of now. #Trend of all indices are down as of now. Reversal only when Higher high with small retracement (higher low) is formed. ImageImageImageImage
#Nifty charts in 3 formats (Candlestick, High-Low sequence and Closing Line). Multiple support region at 10400-10530. ImageImageImage
Weekly charts #Nifty and #Midcap indices ImageImage
#Nifty and #Banknifty charts (they are still in a downtrend, trend change decider or additional momentum to confirm in 1-2 days) ImageImageImage
Updated Charts #Nifty and other indices ImageImageImageImage
Monthly, Weekly and Daily charts #Nifty ImageImageImageImage
#Nifty indices updated charts ImageImageImageImage
#Nifty indices Updated charts ImageImageImageImage
#Nifty 500 index ImageImage
#Nifty 500 index halted at 200 EMA & 200 SMA. Image
#Nifty weekly and Daily chart ImageImage
#Nifty index on Triple Timeframe chart

Monthly - Bullish
Weekly - Neutral
Daily - Bearish Image
#Nifty - Daily and Weekly ImageImage
#Nifty 500 Index - Complex Head and Shoulder formation on large timeframe.

Bulls: Neckline support and 200 DMA support

Bears: Consecutive Lower Lows and Lower Highs and large distribution.

Lets see who wins. Image
#Nifty 500 index - gap down likely from neckline and 200 EMA... interesting scenario
Gap Down = Bearish Momentum
Break of 200 DMA = Breakdown from long term support.

#Nifty500 index has broken 200EMA with a GAP down. (not a good sign)

#Nifty charts - Downtrend channel is now getting steeper in daily chart. Weekly chart shows break of long term support. ImageImageImage
#Nifty - all indices short term trend update. Trend has changed to up but bias is still down. Short trigger on new uptrend failure pattern only. ImageImageImageImage
"Trend has changed to up but bias is still down."..... so bias worked today.. Pattern failures have stronger implications. #Nifty
Pattern did not fail eventually and Uptrend held up strongly.
Current Trend : Up
Bias: Up
Step & Ladder chart showing momentum.
#Nifty and #Banknifty ImageImageImageImage
Trend following signals on Step & Ladder chart - #Nifty
#Trend is Up as of Now. Image
All type of charts in #Nifty are saying the same thing "as of now".
The TREND is Up.

High-Low Sequence chart
Step and Ladder Chart
Swing Line Chart ImageImageImage
All indices on High-Low sequence charts.
Trend remains Up as of now.
#Nifty ImageImageImageImage
#Nifty at Make or Break Level... 10500-10700 zone
Upmove is slower than previous decline (swing high of 10632)
RSI went below 33 & now near 67
The recent rise is in 50-61.8% retracement zone (additional strength confirmation only above 61.8% level) Image
#Nifty and other indices ImageImageImageImage
#Nifty daily & Weekly setups ImageImage
#Nifty and Other indices.
Banknifty is outperforming while other indices are showing sell signals on short term timeframe. ImageImageImageImage
#Nifty and Midcap Index chart : Largecaps are Bullish and Midcaps are Bearish.

Sign of Accumulation or Distribution? I guess a Higher High or a Lower Low sooner than later will confirm that. ImageImage
Market Breadth data and Indices Chart of #Nifty and #Midcap100...

something is really boiling hard in the internals of market. ImageImageImage
#Nifty and other indices weekly chart
Largecap in Uptrend vs Midcap in Downtrend,

Which trend of the above will be forced to change its course? ImageImageImage
#Nifty and Other Indices Charts (the setup is weak unless market does otherwise)
F&O stocks > 20DMA :31%
F&O stocks > 50DMA :37%
F&O stocks > 200DMA :46%
Up with Higher Volume: 48
Down with Higher Volume 101 ImageImageImageImage
#Nifty and other Indices (weekly charts)
Nifty - Change of Trend signal to down a week after the Midcap index
Banknifty - Trend is still Up but there is a breakout failure
Midcap - Trend is Down ImageImageImage
#Nifty and Other Indices - Daily charts

Observation: Short term trend is down everywhere ImageImageImageImage
#Nifty and Other indices chart update.

Nifty and Banknifty approaching major resistance levels while Midcap showing signs of a new Uptrend (still a nascent stage). ImageImageImageImage
#Nifty and #Banknifty both reversed from (near) its resistance zones. Banknifty also gave a sell signal today (short term).

Lets see ImageImage
Market breadth is Weak for #F&O stocks Image
#Nifty and other indices - Weekly charts patterns
#Nifty - Symmetrical Triangle
#Banknifty - Upward sloping channel
#Midcap - Downtrend with expanding triangle ImageImageImage
#Nifty and other indices - Daily charts.
#Nifty - reversed from key resistances. Broke 2 day's low today; Short term sell signal
#Banknifty - Breakout failure and sell signal again
#Nifty500 - Downward sloping expansion & fresh sell signal.
#Midcap - Inverted Cup & Handle pattern ImageImageImageImage
Flying KITE pattern in #Nifty. No clarity of major direction as of now. Image
#Nifty and other indices updated charts ImageImageImageImage
Updated charts: #Nifty and other indices.

Nifty made a NR21 (narrowest range of last 21 weeks) in weekly chart. ImageImageImageImage
75min chart #Nifty
Nifty has also broken Previous week's low (NR21) ImageImage
#Nifty chart showing 5 distribution candles in same range. ImageImage
#Nifty futures at crucial resistance zone (10770-10800).
High probability of a bearish reversal from current levels.

View changes above 10840 (Futures) Image
Flying Kite pattern in #Nifty is still unresolved.
#Midcap100 index is getting uglier. ImageImageImageImage
#Nifty and Banknifty - Daily and Weekly chart shows Triangle pattern in both timeframes. ImageImageImageImage
#Nifty closing Line chart patterns (Traditional analysis) Image
#Nifty in last 14 days : 0 points
High - Low range : 192 pts Image
#Nifty - Flying Kite pattern still unresolved. Image
#Nifty and Other indices.
#Nifty and #Nifty500 - Short term Triangle breakdown
#Midcap100 - Complex pattern breakdown ImageImageImageImage
#Nifty and other indices - Updated charts. ImageImageImageImage
#Nifty - Updated charts. Both timeframes are still bearish. Lets see how it plays out. ImageImage
Ugly Cup and Handle formation #Nifty Image
Market Breadth data Image
#Nifty Midcap50 index - #Bullish Image
#Market breadth - Somehow I feel Bulls are just running away.. Price confirmation awaited. Image
#Nifty Smallcap100 index - Nail biting level.

Who will bite the Bullet? Bulls or Bears? Image
#Nifty data Image
#Probability of Midcap index. Image
#Nifty data update Image
#Nifty Smallcap index is up 4% in last 3 days.
Strong reversal from Long term Support trendline. Image
#Nifty all indices ImageImageImageImage
#Market Breadth data Image
#Nifty chart : The only thing that is clear is that TREND is UP. Image
#Nifty and Midcap100 charts #Weekly and #Daily ImageImageImageImage
#Nifty data Image
#Nifty chart Image
#Nifty data and charts ImageImageImageImage

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More from @sumitverma29

Jun 22, 2020
It is said that Bull Market climbs the wall of worries...

Happening across many markets...

#Copper is one of them too..
Chart Pattern resembles an old one from history

Post 5th breakout higher high, S&P never looked back. ImageImage
Updated chart of #Copper...

Today at 5th Breakout level ImageImage
Update on #Copper...

5th breakout happened...
(Similar to #1987 #S&P500 chart)

Copper Uptrend is Bullish signal for Emerging Markets. ImageImage
Read 12 tweets
Jun 16, 2020
Lesson from recent past.

BALAKOT Airstrike did not trouble market much, I am confident that Indo-China border tussle may not too.

Note: 20 day Average True Range for #NIFTY is 260pts (CMP 9914)

Hence, will maintain 9600 as trigger level to change stance. #NIFTY
Update on #Nifty chart

4th Higher High formation
No weakness in volume to assist divergence
20Day ATR now 250pts (ATR falling means low volatile zone in an Uptrend which is bread butter for Trend Followers)

My view: Bullish as there is no sign of weakness yet.

TREND is UP Image
Update on #Nifty and #Banknifty chart.

I cannot see any sign of weakness externally or internally anywhere.
Prices are rising hence TREND is up.

It is as simple right now.

Current view: Bullish

(Nifty is UP +557pts since Indo-China tussle) Image
Read 52 tweets
May 26, 2020
Today headline Index was weak but breadth was pretty good both on price as well as volume side. #Nifty Image
Breadth do speak.. we just need to hear them well.. #Nifty Image
Breadth... Breadth... Breadth... most important momentum tool for me.. always.. #NIFTY Image
Read 5 tweets
May 23, 2020

Earlier I explained how to make charts cleaner by using Two day Swing Lines & today I explained how to identify Relative Highs & Relative Lows in an objective manner



Now I will try to show how to make a TRADING system out of the two....

Tools used:
Relative High AND Low identifier (N=10) and
Two day Swing Lines


Further to the above thread to find trade setups using the above mentioned tools.

Topic: Identifying "TREND FOLLOWING trade setups" using Top-Down approach

- Weekly and Daily charts are taken with Relative Highs and Relative Lows marked (parameter N=5)

Read 7 tweets
May 23, 2020
A thread on how to Define correct Swing Highs / Lows for the purpose of Dow Theory analysis or drawing Trendlines:

Thomas DeMark in his book "The New Science of Technical Analysis" said that drawing
of trend lines is a highly arbitrary process. 1/n
A trend line is typically intended to connect
several Relative Highs or Relative lows. If there are two or more such points, the trend line can be drawn
precisely. (notes from Jack Schwager's book "The Complete Guide to the Futures Market").. 2/n
Relative high is a High that is higher than high on the N prior & N succeeding bars.
where N is a number of bars (can be anything as per individual's setup 5 / 10 / 20...)

if N = 5, Relative High is Current High > last 5 days & succeeding 5 days. Viceversa for Relative Low.. 3/n
Read 10 tweets
May 17, 2020
Further to my initiative of #LetsLearn where my objective is to de-code complex things & make things simple and available for analysis...
Today, I will try to make a complex looking chart into a clean & simple one (only useful for people who are PATTERN based trader/analyst)..1/n…

Further as disclaimer, the presented way will be more useful for people who have followed Martin Pring's book on chart patterns.. (images taken from Kindle version of the book)
The below are Candlestick charts of #NIFTY50.. a lot of times market moves inside a range throwing multiple Bullish/Bearish candlestick patterns and adds up the clutter in analysis (Pro Candlestick / Bar / short term traders wont have a problem) but for others it is a confusion..
Read 12 tweets

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