Ilango Sir, Thanks :-)btw, Sir - I believe that today market will close more than 5300 and tomorrow, it will open gap UP by at-least 30-40 points because i see US trading in GREEN today and also asia traging in GREEN tom. morning - do u agree?
I think till we understand EW theory - "12345" will be the most complicated numbers in the numbering system!!!- where the numbers seems to be changing positions!! "Kannamuchi rae,rae!!!!"
Sri, Hi. Was out on an errand for last two hrs.Too many problems plaguing the world economies.Bear markets sustain on a river of hope whereas bull markets are based on climbing the wall of worries.We have a heady coctail of both. best
Manoj agree with you. But am clear now (atlast)the world economies are coming to right direction with proposed fiscal deficit & debt cuts as it is inevitable..the scenario seems to be bleak for the layman but for economist in me, it is silver line. Bill Bonner book of EMPIRE OF DEBT good read in this regard.
Sri, the reduction of debt could lead to a lot of problem in the short term,say 2 yrs but long term its most welcome. But can we bear the burden in the short term?
S&P futures keep breaking feb lows of 1040 since morning but could not sustain below that..if it gets a bounce tonight..good for short term to all mkts..if it drops further..another round of selling we can witness..
Definitely..it is just matter of adjustment. Once the government revenue starts increasing due to cut in int. burden as well inc in taxes, spending the revenue will create more productivity and employment, more welfare measures which will get reflected in the growth of GDP which will take care of inflation and currency strength...the cycle goes to old classical economic theory.. " live within your means...than on debts" As far as india is concerned,sometimes decoupling takes place...this may be that time...
Eur/Usd is trying for a reversal in hour chart. If succeeds it will be good for U.S and european markets. The sudden spike in euro seems to have helped nifty as well
Illango'ji so the 4th wave has ended today at 5215 & we are entering 5th as per you latest chart.The required close abv 5285 is coming so can we assume that the coming month is going to be bullish ???
NF crossed 5317 which was the close on expiry day and was mentioned by Dear Prashant Shah,to whom Dear Kumar was searching his last month's comment on expiry close.
Only the worried part of the rally is "NO reduction" in NF O.I.But yesterday the Bhav copy was showing the huge reduction so the O.I. factor now a days is not working very effectively,particularly for intrday.
Few years back a gentleman told me about this thing but due to chart's creature i did not give any waitage but last month when Mr. Prashant told it, i observed it closely. Its really interesting.
Is the 5th wave always so fast and furious? If yes then can we see 5400 by the end of this week and then the big drop that everyone has been expecting from Last June?
If it breaks out of the falling wedge, I think it could shoot well over 5400 in the next month, shr. stockcharts.com/education/ChartAnalysis/fallingwedge.html
@all somebody copies Ilango's comments(mok or assortz or other) Copy this as well "Take me to that party gang..led by Mo(n)k,,!! Will need a large." keep the note book away from children!!
It isn't exactly a falling wedge ... maybe I should call it a slanting-rising-wedge. Anyway, buying strength is increasing in the market with every rise.
May be that's b'coz it's still the beginning of the series & shorters are confident that mkt will be down by the end of the month (after the 5th wave is over). The same is the case with 5400CE OI.
94 comments:
I'm guessing 5330 today.:)
Yoda,
Will nifty behave the other way????!!!
Ilango Sir,
Thanks :-)btw, Sir - I believe that today market will close more than 5300 and tomorrow, it will open gap UP by at-least 30-40 points because i see US trading in GREEN today and also asia traging in GREEN tom. morning - do u agree?
This Nifty reacts negatively to my every statement, satheesh, but I'm hoping. lol
Ilango sir,
I think till we understand EW theory - "12345" will be the most complicated numbers in the numbering system!!!- where the numbers seems to be changing positions!! "Kannamuchi rae,rae!!!!"
@ Janak,
All possibilities. Yes.
2:30 factor on Wednesday is +ve?
IDFC and IFCI exploding with volume.
hey Fire! i hope u kept ur longs (i remember mentioning that don't sell them in panic) - see! Ilango Sir's disciples are also predicting right now :-)
Dear Ilango,
If the 5th wave is completed, after abc, the next 1st wave will be up or down?
Ilango sir,
Can you please put up the chart with the latest labelling of "12345" and the next probabale move possibilities?
Janak,
You bet I kept my longs! And thanks a lot for your suggestion. Keep up predicting like this... :)
Sri,
Hi. Was out on an errand for last two hrs.Too many problems plaguing the world economies.Bear markets sustain on a river of hope whereas bull markets are based on climbing the wall of worries.We have a heady coctail of both.
best
@TRADER, the 12345 that Ilango said was 'i' of 5. This 'abc' is
the 'ii' of 5.
To be followed by 'iii', 'iv', 'v' of 5.
Mr.GG,
then we have completed wave 4 now, and in 5th?.
Manoj
agree with you. But am clear now (atlast)the world economies are coming to right direction with proposed fiscal deficit & debt cuts as it is inevitable..the scenario seems to be bleak for the layman but for economist in me, it is silver line.
Bill Bonner book of EMPIRE OF DEBT good read in this regard.
Ilango sir,
Today being the last day of the month, if it does not close abouve the Day HEMA of 5285, then can we go for sell on every rise?
Sudden huge buying interest seen in all media stocks.
@fire
it is due to TRAI new announcment
kk
KK,
What's the announcement?
Sri,
the reduction of debt could lead to a lot of problem in the short term,say 2 yrs but long term its most welcome. But can we bear the burden in the short term?
OT...
is there a site where one can monitor "unusual" volume or price increases ? I think many of ventura calls are just based on that.
-- gd
TRAI seeks 74% foreign investment in Broadcast carraiges
Sri - July 7 issue of Business Standard - article on Euro Eco. Don't miss it. The Economist in you would like to argue against.
@ fire
to increase in FDI limit @74%
I was busy preparing this EW intraday lesson.
@Sri Sri Sriganeshh
http://www.4shared.com/get/94928980/e589268d/Empire_of_Debt_-_The_Rise_of_a.html
your recommended books i always keep in my library
Refer the uploaded chart.
S&P futures keep breaking feb lows of 1040 since morning but could not sustain below that..if it gets a bounce tonight..good for short term to all mkts..if it drops further..another round of selling we can witness..
DISCI : am in shorts..
aZ:"DISCI : am in shorts.." One leg in it is mine.
Definitely..it is just matter of adjustment. Once the government revenue starts increasing due to cut in int. burden as well inc in taxes, spending the revenue will create more productivity and employment, more welfare measures which will get reflected in the growth of GDP which will take care of inflation and currency strength...the cycle goes to old classical economic theory..
" live within your means...than on debts"
As far as india is concerned,sometimes decoupling takes place...this may be that time...
@golf dude
for your viewing pleasure
http://economictimes.indiatimes.com/volumeshocker.cms?exchangeid=47&exchangegroup=A§orid=0&noofdays=15&exchangeindexid=0&pagesize=30&pagenumber=1&Go=Go
Cheer mate
Mr 2.30 cud do this much today...shaved 20 points. Ok Friend. Good Show.
RG
thanks ..will read..
Anuj
thanks for the link
RG..
Both legs since last week..:)
One leg in&out in longs…
RG
is it june 7 or july 7?
That is the completion of wave 2 and the start of wave 3.
Dow fut..1 min candle – 40 points up..so we jumped 20 points here…
This is the teaser trailer of the power of "5th"..!!
woah!! did you see that rise??
Took my breath away.:)
Hatts off again to the master ....
levels came and it shoot up exactly from there.... seems lot of big ppl following this blog :)
teejay
@TRADER, yes looks like 4 is over and we are in 5.
A strong close today, and a gapup to break the corrective
channel should confirm this.
Now the internal break up within the 5th is best left to Ilango :).
sir
is last fast retracement leads to "5"th..
its too fast within the channel
That was quick - i thought yahoo was giving wrong quotes.
5260 to 5275 in a minute.
I have uploaded another chart to show the detailing of the 2nd wave and how one could have got the start of this 3rd wave..
Wow...just amazing sir....no words :)
There seem to be a running correction within the sub waves of this 3rd wave of the 5th wave.
That is quite bullish.
Sir I go with my plan uptill
Buy 2 @ 5255
Buy 2 @ 5286
remainig which I have to buy @ 5215 yt should do
wait for it or buy it here?
Plz sugest
Take a look at Euro/$ chart also....a sudden burst that equally respects the big green candle of nifty.
Hai everyone
Eur/Usd is trying for a reversal in hour chart. If succeeds it will be good for U.S and european markets. The sudden spike in euro seems to have helped nifty as well
http://niftychartsandpatterns.blogspot.com/2010/06/eurusd-hour-chart-reversal-attempt.html
thank you
Yes Musti,
More or less all the confirmations are here for a 5400+
@Elango Sir
Shall I buy Nifty now at 5311
26-EMA also signalling Long in Yoda's spreadsheet.
@Anuj - thx for the link.
-- gd
@ GG,
You have done really well. Keep it up.
A big pat on your back and a round of applause to you.
Rajaji,
Euro-USD is booming... If you hadn't mentioned, I wouldn't remember to see the chart. Thanks. You always provide various perspectives to think about.
@ Sriyasdmurali,
If you buy here, your SL would be 5255 (Conservative) & 5280(aggressive)
Illango'ji so the 4th wave has ended today at 5215 & we are entering 5th as per you latest chart.The required close abv 5285 is coming so can we assume that the coming month is going to be bullish ???
Faster retracement happened. yay!
Nifty Century done from 5210 to 5310 Spot.
NF 5225 to 5325 (Pending)
@illango
your 100 points century...
Yes..Bhavesh,
It looks so, led by Mukesh's RIL.
Is this quarter ending ( June end ) ? Anybody think any window dressing by MFs ?
-- gd
Hello friends,
All of sudden nifty future sheds it's premium trading with narrow range as they are building the shorts or what?
Oil firms may soon get right to choose exploration blocks
Companies can suggest any block for offer, without waiting for announcement of bids under NELP Full Story see business standard
@ Anuj,
Take me to that party gang..led by Mo(n)k,,!! Will need a large.
Will confirm it once NF also completes a century.
hello friends
IFCI, WWIL & OFSS suggested as a BTST trades, please visit my blog for the same
stock2gains.blogspot.com
thanks
regards
Its hard to believe the charts and method you follow sometimes. I got stopped out at 5305. haha!:)
Mok,
Heard ? fix the spot :)
NF crossed 5317 which was the close on expiry day and was mentioned by Dear Prashant Shah,to whom Dear Kumar was searching his last month's comment on expiry close.
Ilangoji,
The daily stochastics has given good support to your analysis for last two days.
Hi..Mynac,
How are things..?
Fine Sir.I was also curious about 5317 and would like to study.
Thank you Ilango. I enjoyed it :). And a big thank you as well.
Now should we carry over longs? I closed some positions due to close below High EMA.
Hai everyone
Nifty closing above this trendline would be very positive.
http://niftychartsandpatterns.blogspot.com/2010/06/nifty-futures-trend-line-in-hour-chart.html
Thank you
Only the worried part of the rally is "NO reduction" in NF O.I.But yesterday the Bhav copy was showing the huge reduction so the O.I. factor now a days is not working very effectively,particularly for intrday.
shorted at bank nifty at cmp ....stop 9550
Mynac,
Still a bearish possibility exists. It depends on a quick move up. More time spent will deplete the bull power.
@GD - call it what you will - window dressing, etc. But this was
all on the charts.
But yeah must be window dressing as this is the 5th wave. Close to the top
and bullish news coming in all over.
sir
n a good mood..
if u really enjoy mo(n)k ..
cum to me for a ride to triund
Dear @Mynmac!
Few years back a gentleman told me about this thing but due to chart's creature i did not give any waitage but last month when Mr. Prashant told it, i observed it closely. Its really interesting.
Rgrds,
KUMAR
O.K.Sir.
P.S. I was confident about your"5225" so act accordingly.
Thanks.
@ilango
Take me to that party gang..led by Mo(n)k,,!! Will need a large.
ha ha..."Et tu, Brute?"
Ilango sir,
Is the 5th wave always so fast and furious? If yes then can we see 5400 by the end of this week and then the big drop that everyone has been expecting from Last June?
Thanks
Bye Sir. Bye Friends.
Sir congrats on your century. (u must be the only one with more centuries than ST?).
If it breaks out of the falling wedge, I think it could shoot well over 5400 in the next month, shr.
stockcharts.com/education/ChartAnalysis/fallingwedge.html
@all
somebody copies Ilango's comments(mok or assortz or other)
Copy this as well
"Take me to that party gang..led by Mo(n)k,,!! Will need a large."
keep the note book away from children!!
the reason for todays upmove at the last hour is
ECB loans @161.1 B euros in 3 months re-financing
It isn't exactly a falling wedge ... maybe I should call it a slanting-rising-wedge. Anyway, buying strength is increasing in the market with every rise.
@Yoda, your 5330 almost achieved. Only the wiggle at 2:50-2:55pm played the spoilsport.
Hahahahahahaa
That' all I can say Spark, Fire and then ICE.
@mynac
May be that's b'coz it's still the beginning of the series & shorters are confident that mkt will be down by the end of the month (after the 5th wave is over). The same is the case with 5400CE OI.
get Free Nifty Futures Tips at
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yes, just missed by 7 pts on NF, shr.:) Tomorrow morning, hopefully.
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