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...

Friday, May 13, 2011


30 min chart Update

30 min chart-projections for 16.05.2011

Thursday, May 12, 2011


30 Min Chart
Price gapped down at open but steadily climbed up and moving in a range till 11 am.The iiip news triggered a spurt and hit the red median line.Was the perfect spot to enter a short with the minimum Stoploss.And price broke the 5540 support and fell towards 5470 levels closing at 5486.

Daily Chart

On the daily chart with the majoe Pitchforks drawn the daily bar tested 5593, 2 days back and moved down decisively today.The probable target zone 5300-5350 is marked in the chart where it should find a major support.

Wednesday, May 11, 2011


30 min chart
Price did not drop below yesterdays low,instead moved in a range for most of the day and reached 5465 level at close.Price moved out of the red median line set drawn on yesterdays price bars , but has not moved beyond the major Red median line showing the stiff resistance at 5460-5600 levels.
What next?
To project the next move drawn the blue Andrews pitchfork and Majenta Schiff median line.The price has "walked along the Lower blue median line parallel indicating the sideways movement and lack of momentum.Wheras with the schiff median line it has met the Magenta Median line and the major Red median line.This is a probable turning point and price fall can start from this zone - + / - 20 points.
Moreover this will be a low risk point to enter a short with minimum stoploss.
Till price reaches 6230-6700 levels it will be sell on rises .
If price falls to reach 5470 - 5450 band where it should hold for price reversal with momentum.

Tuesday, May 10, 2011


Update on price movement as per yesterday's projections
Price went down upto 5535-( 5530 expected) and was resisted at the Red median Line several times with high of 5593 and fell down to a low of 5514 and closing at 5541.Expecting further downmove tommorrow.

Projections for tommorrow_11.05.2011

Drawing the red pitchfork with todays high at the median line, price tested the Upper medain line at 5580 and was a good point to short Nifty.Price did fall down and expecting it to go down till 5475-5470 levels.Consolidation at those levels / breakdown will make Nifty go down swiftly to the lower targets projected earlier.

Monday, May 9, 2011


30 min chart

Price moved upto 5570, close but not reached 5590-5620, before closing at 5547 levels.
My outlook is that it can test 5530 and then move upto 5600 levels/ test 5480 move upto 5600-5630+ levels and then fall down to 5350 and below.

Friday, May 6, 2011


30 min chart
Trade probability 1- Case for Long trade - Short term
Down Swing - 5892-5444=448 points.Trend - Down
This will have to be short term counter trend Long trade as Pitchfork is sloping downwards .

My trigger for a long is a price cross at 23.6 % levels of the swing considered which has happened today at 5499.The price can reverse down to test the Swing low.If so, will enter a long at 5485 levels with a stoploss of 25 points , just below the Swing Low .After that price moving forward can hit resistance levels at 5590-5620 levels.Which is at the Red median line.
Trade Probability 2
Price moves forward to 5620 without trying to test the swing low.
1.Price meets 5620 levels , moves down to 5570 which will be my Short trigger level.My entry for Short will be at 5600-5580 levels.Target1 will be swing low of 5470-5440 levels.
2.If swing low at 5443 levels break, then earlier projected levels of 5300-5350 will be the target 2.

Thursday, May 5, 2011


30 min chart

Daily chart

Wednesday, May 4, 2011


30 min chart 4.05.2011

Tuesday, May 3, 2011


30 min chart

Daily Chart

Monday, May 2, 2011