Tomorrows trading should give us some clues to it.
2705 & 2734 are the 50% & 61.82% retracements..Markets action at this level and the earlier support as well as today's intra upper range of 2622-2630 will offer some clues..
Tuesday, December 2, 2008
Nifty bounces off the oversold area with low volume to meet res..@ 2690-2730 area
The fall from 2835 can take the shape of a normal 5-wave structure with the 1st wave already down by 265 points..(Or the 5th is Over??) or an ending diagonal..
Tomorrows trading should give us some clues to it.
2705 & 2734 are the 50% & 61.82% retracements..Markets action at this level and the earlier support as well as today's intra upper range of 2622-2630 will offer some clues..
Tomorrows trading should give us some clues to it.
2705 & 2734 are the 50% & 61.82% retracements..Markets action at this level and the earlier support as well as today's intra upper range of 2622-2630 will offer some clues..
Elliot's Impulse waves.(Part-5)
IMPULSE WAVES :- The Basics Waves that move the market in the direction of its main trend either up or down are called Impulse waves. 1....
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5010-5039 supply zone proved a ST resistance. 5002 proved a break down point. 4945 to 4982 proved a corrective rise, monitored with an ... -
Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor... -
If the steady FIIs inflow reflects in the prices, 5405 should be protected going ahead and market may encounter minor corrections and keep m...
2 comments:
Great Excel charts Ilango, and sure requires a lot of thought to make these. I like your eod chart with all those ew labels. Can you make the down days of a different color -say red, than black? I think you can. Right click on the black candle and format down days. Same with the shadows (high,low)you can make them say brown. This will make your chart more crisp. Just try it out.
Regards,
ss
Hi..SS,
Thanks a lot. I will incorporate your suggestions soon.
Regards
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