Trading with Median lines is a system and a leading indicator suitable for Swing trading.I am following this strategy for Nifty and Bank Nifty with good results.Those interested to trade with Charts and Price action to analyse target price, support and resistance levels will find this strategy very interesting.

Feedback welcome!Happy trading...

Monday, January 3, 2011

Nifty meets minor resistance..

Nifty moved within a range today as early session gapped up and met the minor median line.The price move is still within the ascending blue pitchfork and has support at the major green pitchfork LML also.
60 min chart

Daily chart

The warning line 2 is also drawn on the daily chart.The confluence of the present Major pitchfork Fib R lines and the warning lines gives targets of levels close to 6200 , 6240 , 635o , 6420- 6430.The immediate targets of 6200 6250 are near the major Green median line and expect resistances at these levels. Range bound movement is probable.

On strong close above 6250 higher levels at junction of PF and warning lines are to be the targets.
Supports below are quite far away at 6045 - 5950 levels.So at median line resistance part booking of long positions to be done.


  1. Great Analysis...Appreciate your work...As I said I am a regular visitor of your blog...Just one question..Is there anyway I can share my pitchfork charts with you...that would be great learning from you. Keep posting and a Happy new year :-)

  2. Hi Vijayveer
    thks for yr appreciation.The blog is a reason for me to record my analysis everyday with discipline. I have not found many who use this system on any forum and would welcome any interaction with you.
    happy new yr to you!