At 2.45 PM: Stopped out @ 4680 NF(Long @ 4668)
At 2.02 PM: SL for Longs now @ 4680 NF for the day.
At 10.50AM: S&R for Longs now @ 4635 NF
Holding Longs of 4668
S&R for Longs raised to 4670 NF
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....
-
5010-5039 supply zone proved a ST resistance. 5002 proved a break down point. 4945 to 4982 proved a corrective rise, monitored with an ...
11 comments:
sir...apart from index ...aban has jumped 20%today!!!is this a technical breakout...
Hi..Shaq,
It could be news based(I do not know).
It could be huge short covering. But the magnitude at the open suggests of a possible technical break out.
As per mr.Vivek Patil of Elliott wave fame, trading above 80% retracement of the last fall indicates a reversal confirmation and more highs in the coming days..
For Nifty 80% for 4727 to 4353 comes @ 4652.
For Sensex 80% for 16002 to 14684 comes @ 15738.
By the time this confirmation arrives we are already up 7% from the lows..That is confirmation play in daily time scale..
Best regards.
ilango
Hi Ilango
This time nifty'll cross 4730??
yes sir...its more news based...they won contracts for around 100 million$...
Sept futures meanwhile have just crossed 4700...so lets see what happens this time around
Hi..kshitijesh,
Yes, it is a distinct possibility.
Hi Ilango,
Look at the volumes in Nifty futures, I have never seen such low volumes....
Also since morning the participation is muted...
I think we are very near the top...
Hi..Neil,
We have been having -ve div in intra charts for the 3rd day..Every time Nifty falls, short covering has lifted it up.
Will it be different this time..The morning range is broken on the downside..
Best regards.
ilango
good performance and reporting. Keep it up.
hi iam hold 2nifty shorts insep nd 1 long in october ,what to do ,nifty direction pls
Hi..Madhu,
My views are clear and also I have put Nifty recommendations. Try to sync it with your positions.
We are closer to the 3 month resistances @ 4725. There could be false break out too. As I see some strengths in individual stocks, Nifty may break through the resistances post settlement day(Today).OR it could surprise us by clearing it today itself.
4630 is a good supports, then 4580. If these hold & Nifty breaks past 4725, that will be convincing.
Breaking below 4580-4560 could bring in weakness.
Best regards.
ilango
Post a Comment