the sell signal has not emerged. Market has a way of surprising and
these divergences can disappear if the prices persist.
There is a rising wedge possibility for the TA guys.
And there is an ending diagonal for the EW followers.
Final verdict should come from the prices and prices alone.
Watch the price moving up within the channel and trade along these lines.
Momentum, so far, has been intact with firm closings.
Remember, financial markets demand your highest attention and focus. Stay focused at all times. If you find yourselves having nothing to focus on, spend some time with your loved ones and friends. But never allow "anything" to distract your mind off this "Beautiful Business". Give its due respect that it deserves and it will reward you manifold.
7 comments:
Hi, ilango sir,
After January-feb 2008 fall (there was a corrective bounce on feb 2008), the highest closing on daily chart was 5228.20 (on may 2, 2008).
Today we closed 5232.20 just above it; actually it is highest closing since jan-feb 2008 fall.
We r near a strongest resistance but if bulls r able to break it (they r inching day by day), we can see a big overnight gap up.
It is better, to stay out of predictive overnight short position (at least for now) till the sell signal emerges.
I want ur view, sir (from weekly/daily chart since 2008 fall).
Best Regards.
A interesting post:
Why I am Bullish on India Economy and Stock Market 2010 By: G_Abraham
Stock-Markets / India
Dec 31, 2009 - 07:09 AM
link:
http://www.marketoracle.co.uk/Article16165.html
Best Regards.
Two excel free ebook link on EW:
1.
120-page Global Market Perspective from Elliott Wave International is yours – absolutely FREE!
Link:-
http://www.elliottwave.com/club/gmp/default.aspx?code=30440
---------
2.The Ultimate Technical Analysis Handbook
absolutely FREE!
Link:-
http://www.elliottwave.com/club/ultimate-technical-analysis-handbook/default.aspx?code=36029
Best Regards.
Hi Langoo,
It's beautiful word you wrote : "Remember, financial markets demand your highest attention and focus. Stay focused at all times. If you find yourselves having nothing to focus on, spend some time with your loved ones and friends. But never allow "anything" to distract your mind off this "Beautiful Business". Give its due respect that it deserves and it will reward you manifold."
It's really touch my heart... and absolutely right...
Visit my blog: www.nifty-with-ghosh.blogspot.com
Dear Illango,
Ashok leyland looks good to me. Can you analyse it in stockwealth with possible EW counting.
Thanks
Hi, Vinod ur previous link
http://realtimeniftychart.blogspot.com/
is very good. Can u give the same 70 min, 1070 min chart link directly from yahoo free intraday chart? Then stoch/rsi also possible.
Hi, Vinod Dhandapani if
http://realtimeniftychart.blogspot.com/
is ur creation (I think so). Just add the stoch, rsi, wzr curve with 70 min, 1070 min chart (already with MACD).
If possible give the direct yahoo link of that 70min, 1070 min also; so that we can edit it/customized it according to our need.
Best Regards.
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