Bank Nifty –Pring KST and 1 Hour CandleStick

bank nifty kst Jan 06, 2022
KST, Bank Nifty

Nifty and Bank Nifty has continued to move up sharply over past few days without any dip even on Intraday basis. Such sharp up moves do not provide opportunity for traders to enter unless they are already long from the breakout levels.

Look at the below chart of Bank Nifty on hourly Time frame that shows that since 34800 till current levels of 37800 not a single candle has closed below the prior hourly Candle low.

Yes, not even an hourly close has been below the prior hour candle low in 3000 points of up move.

Bank Nifty hourly chart: Pring KST Indicator

Magic of Hourly Candles – Above chart clearly shows that within the channel by simply following hourly candle technique one can continue to ride the trend on upside without bothering to be out unless a close below previous candle is seen thereby capturing 3000 points so far on Bank Nifty.

Pring KST Indicator - The Pring's Know Sure Thing (KST) indicator is a momentum oscillator based on the smoothed rate-of-change for four different timeframes. This is essentially summing the different Time cycle periodicity and giving a cumulative way of seeing if the multiple cycles are moving up or down.

As shown on hourly chart, the green line represents the KST and the redline is the 9 period SMA of the KST. So as of now there is no negative crossover of the KST below the red signal line thereby keeping the momentum on upside as per cycles as well. This is different way of analysing cycles by formulating an indicator of price.

In a nutshell, simple techniques of Candlestick and combining it with one simple indicator can also give amazing way to form trade setups. It is easy but the only question is are you disciplined enough to follow it!

Elliott Wave, Neo wave and Time cycles – If one can combine the simple methods explained above along with forecasting tools like Elliott wave and Time cycles it can give sharp increase in predictability. We have forecasted markets right from few hours to a decade and more which has worked out extremely well. You can equip yourself with these tools in the Live Event on 15th – 16th January 2022 in Master of Waves (MOW). It does not matter if you are a fresher or already a Trader, these methods can be learned by everyone in a simple step by step process, Know more here