It is possible the 5th wave may have ended as truncated on 30th June @ 5320 and the minor i, ii may have been done and iii to unfold or ii to continue a bit more. OR Holding above 5165, the 5th wave may commence on Monday.
All these are possibilities.
Prices, the final factor, is holding the weekly channel as well as the Hour NF channels. Until the prices confirm with a firm close below these channels, options are open to all views.
11 comments:
I truly Appreciate Your analysis
Reghards,
Free Nifty Tips
btw, in all likeliness - Monday will open a HUGE GAPE UP.... look at the way Europe is trading, US and other asian markets have been subdued or in RED throughout this week...also as such there is no bad news at the moment...except that rise in repo rate may play spoil-sport, but it is not a big rate and it was expected so that is already absorbed by the market...
too good analysis sir !
as someone pointed in this blog earlier today, we might be headed to 5080 level soon... http://2.bp.blogspot.com/_kcRPXYW_JJc/TC2rIRQNilI/AAAAAAAAAAw/aBeQ5LIHf10/s1600/Calculation.JPG
Dear Ilango,
Today why market fell down at the end?because everyone except the REAL BUYER,was expecting a breakout only on upper side and the fact was that Now a day The real buyers are disappeared from market due to uncertainty through out the global markets.These are all after thoughts but dont you think so that we all forgot this simple reason behind the fall because everyone(including me too) was favoring only one side of the coin, The upper one.Market is supreme so let it decide its journey.Good Night.
RBI changes in rates as
CRR 5.75% to 6%
REPO 5% to 5.25%
Reverse Repo 3.50% to 3.75%
with immediate effect
Mok/Prakash,
Can any of you send me the pdf copy of the book of Frost-Prechter? It would be most appreciated.
My mail address is -- yinyangfire@gmail.com
Hi All,
After the Glen Neely MEW course, here is the probable count.
Though this looks complicated a chart would make it simpler.
4786 to 5368 formed as a ZigZag (A)
4786 to 5098 - 'a' of 'A'
5098 to 4961 - ':a' of 'b'
4961 to 5198 - ':b' of 'b'
5198 to 4967 - ':c' of 'b' to complete 'b' of 'A' as a C-Failure Flat
4967 to 5368 - 'c' of 'A'
5368 to xxxx is the ongoing 'B' as a double combination
5368 to 5289 - 'a'
5289 to 5346 - 'b'
5346 to 5260 - 'c' to complete first corrective as a common flat
5260 to 5339 formed the 'x-wave'
5339 to 5210 - 'a'
5210 to 5263 - 'b' just completed as a triangle. triangle explains
why both bulls and bears were confused the last few days
Breakdown of 'b' as a triangle
'a' = 5210 to 5320
'b' = 5320 to 5232
'c' = 5232 to 5277
'd' = 5277 to 5235
'e' = 5235 to 5263 - this was a classic case of boredom that we had yesterday.
Now ongoing 'c'.
Probably targets
'c' = 'a' implies 5134 ( 5263 - 129)
based on the breakdown from triangle -
75% of largest leg of trianlgle(110) = 5180(5263-83) - minimum
125% of largest leg of triangle(110) = 5125(5263-138) - maximum
typically 100% = 5153
@ Mr GG
Thank You very very much to post the table of Wave Count above which makes the Nifty moves clear and easy to comprehend using EW counts. Now we know the next confirmation or rejection levels to follow.
Do keep posting such tables frequently as this will help many like me who are struggling to master EW.
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Thank you again.
Dear Mr GG,
Thanks for your Probable targets for Nifty. At present for Monday trading purpose Nf 50 DMA is 5140 and if the global markets shall not improve soon, as every one is expecting at present, then we will have to prepare ourselves for some more weakness in coming days.In that circumstances 5070 -5080 will be the likely targets for the Nifty which is near 200 DMA. Very tricky situation. I will remember the following quote from your Blog at this moment that,
"This is the biggest poker game on the planet, and the money flowing into your account isn’t appearing as if by magic. It’s coming from someone who is still learning how the markets work, and who most likely followed his or her gut and got suckered into taking the wrong side of the trade." - Marty 'Buzz' Schwartz
Thanks for your views.
Mr GG,
Please do add some more quotes in your QUOTE HANGER because I have borrowed one of them.
Thanks.
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