NIFTY TECHNICAL ANALYSIS ( HEMANT )

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Sir,

Thank you.

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It would be great if it has a auto refreshing option with macros enabled.

Kindly upload the latest version sir.

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Dear Hemanth sir,

I found your excel sheet very useful & informative. Can i have the latest version please.

Kindly reciprocate.

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• 5-D & 14-D: These are "Stochastics" indicators found in 8th&9th columns(H, I). A more detailed write up will be followed later. This indicator oscillates between 0 to 100 and helps in identifying "Overbought and Oversold" situations. It is generally observed as the prices of stock increase, the closing prices tend to be nearer to the upper end of the price range. As prices fall, the closing prices tend to be nearer to the lower end of the price range. This price range is selected for 5 days and 14 days and the positioning of the close price on any given day in this range is denoted as 5-D and 14-D. This confirms a rising, falling trend as well as Overbought and Oversold status. The colour changes to green when in uptrend and red when in downtrend.Columns L shows the high point of 5 period range, Column M shows the Low point of 5 period range, Column N shows the high point of 14 period and Column O shows the low point of 14 period. Here too, the colour changes as the index maintains or makes new highs or makes new lows. Also of importance is these columns give you the ready break down or Break out points of 5 period or 14 period which keep changing as the days pass by.
• PIVOT, Support & Resistances: These are shown in Column P,Q,R,S,T,U. and the same are copied and pasted in the Weekly Pivot table as well as the Daily Pivot table in the same sheet for easy viewing. The importance of Pivots & other S1,s2(supports) and R1,R2(Resistances) may be read here
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• Weekly Pivot & Averages: These are collected from the same sheet as mentioned above as well as from Data.W (Colum V to Z). Use the close by averages, and other numbers for weekly trading strategy.
  
• Daily Pivot & Averages: These are collected from the same sheet as mentioned above as well as from Data.D (Colum AH to AL for simple averages and column AN to Ar for emas). Use the close by averages, and other numbers for weekly trading strategy. Whenever the emas are above the simple averages, the near term strength is seen and the colour of the ema turns green and whenever the emas move below the simple averages, the colour of emas turn red. You can see all the emas have turned red as the near term strength is quite weak. And that is also an area bounces/ relief rally takes place. It is said "Market is weak when it is at its high and strong when it is at its lows" as advised by Robert Beckman of Elliott wave and hence EW encourages the trader to "Buy into the weakness and Sell into the Strength".

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Thanks Hemant bhai for updating...

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• Pivot Sheet: As you key in the high, Low, High of any stock or Index, this table calculates the "Pivot" point, three supports & three Resistances. This could be used for trading purposes. For more on this, read "Pivot, Supports & Resistances".

• Blog Data Sheet: This is the most important sheet in the file and it collects vital data automatically as you update the "Data.W(eek), Data.D(ay) and Data.H(our)" sheets.It has Date, High, Low & Close in the first four columns. If the high clears the previous two day's high, the colour changes in the cell. Similarly if the low breaks previous two day's lows, the colour changes telling us the change in the swing highs and swing lows.Generally a two day swing clearing is an indication of a change in direction. But there are also false breakout/ breakdown in this, hence I have taken 5-day high & Low breaking as one of the factors for "Conservative Trade" initiation.

• 5.Ema:This is placed in the 5th column(E) and it is the most important short term average. Unlike a simple moving average which averages the last 5 days prices equally, ema gives more weightage to the most recent prices by a mathematical calculation and thus it is a good indicator of short term strength or weakness of the market. The colour of the cell & the font changes to "Red" the moment the close price closes below this critical ema indicating the onset of weakness. And it changes to green if the close price closes above it indicating strength. As long as the weekly close was above this ema, the daily falls were bought into. Since the 18th Dec "weekly sell Signal" as per this ema, the first day resulted in a sell(21.12.09). Now the highly oversold daily as well as Hourly with positive divergences will attempt a reversal. For the week, the first week after the sell signal is the "fight back" week if there is any strength left in the earlier uptrend. A continued close below the week ema on 24.12.09 will more or less confirm a larger time scale reversal in trend. Similarly when the day close is closing below the 5day ema, a sell signal is generated and use this signal to sell in the hourly time frame everytime there is an intraday rally towards either hour ema or Hour high ema. Always give more weightage to the higher time cycle and play the lower time cycle till a "overbought or Oversold" situation arises in the higher time cycle when one should approach with caution but continue in the same direction.

• High ema:This is placed in the 10th column(J) and it is the 5 day ema of the highs made on the previous 5 days giving more weightage to the most recent highs. Thus, as the Close price stays above this the upward momentum is intact and the market is expected to make continued up moves and new highs.The moment the close price closes below this, the colour changes to yellow and font to red signaling the onset of a correction. Sell on rises come into play and market will attempt during this period to move higher than this "High ema" during intraday but only a close above this will bring back a lasting momentum. Similarly the moment the close price closes above this the colour changes to green and font to green signaling the resumption of the upward momentum. Buy on dips come into play and market will attempt during this period to move lower than this "High ema" during intraday which generally is bought into but only a close below this will bring in a correction.

• Low ema: This is placed in the 11th column(K) and it is the 5 day ema of the lows made on the previous 5 days giving more weightage to the most recent lows. Thus, as the Close price stays above this the uptrend is intact and any fall till this low ema may be construed as only a correction.The moment the close price closes below this the cell & font colour changes to red signalling the onset of a downtrend. Sell on rises come into play and market will attempt during this period to move higher than this "low ema" during intraday but only a close above this will bring back a "Neutral mode". Similarly the moment the close price closes above this the cell colour changes to blue and font to blue signalling the "likely end of a downtrend". Buy on dips for trading may come into play and market will attempt during this period to move lower than this "low ema" during intraday but only a close below this will continue the downtrend.
• D.Macd & S.Macd: These two are placed in 6th & 7th Columns (F, G) and they are the values of fast macd(5,10,9) and Slow macd(12,26,9). As this numbers are ascending, it is in uptrend and as the numbers are declining, it is in downtrend and the colour changes to Red during downmoves and to Green in upmoves.

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Hemant bhai Please let us know how to use it..

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again thanks but tell me how to use

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Hemant bhai Please let me know how to use this. I entered High Low and Close but there are also other fields..where to put entry..

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SOURCES : ( KANAK )

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