Nifty Direction Going forward for next one month

11 Ağu

Recently came across this great indicator (rightly got EP note), Adaptive Trend Finder (log), by Julien_Eche:

Per the suggestion, in the Logarithmic chart of NIFTY , we applied this twice. Once with Long Term trend plotting (light purple channel) and another short term trend (light green channel).

Then just for fun, applied LuxAlgo ECHO forecaster:

The result is surprising!

(Made sure the Adaptive Trend Finder's short term Auto selected period is set as the Evaluation Window in ECHO and Forecast window set to 20 .. next one month).

We found out that #NIFTY price action, per LuxAlgo ECHO prediction for next 20 days going to retest the Adaptive Trend Finder's short term bottom channel!!

So per this setup (two Adaptive Trend Finders and LuxAlgo ECHO forcaster in Daily timeframe on Nifty):

1. Nifty going to very range bound for couple of days (24500/24200).
   
2. Then it shall going to fill up the Yen Carry Trade gap and shall rise upto ~24800-ish level.
   
3. Then it shall fall back to re-test the short term Adaptive Trend Finders's bottom channel of the 24000/23900 level.
   
4. There it will exhibit some indications of taking support and bound back (how far? - yet to see).