Trending up within a channel still.
A simple "ABC" in the "B" wave could end sooner. If not, it will stretch higher.
Weekly Pivots were quite handy in the past. How's it going to be in the coming week..?
Friday, September 17, 2010
Nifty gains 245 point after a 160pt-gained break-out of last week.
Keep this perspective at the back of your mind: Till the prices behave abnormally on the downside, this current upmove is unfolding after nearly 10 months of consolidation. That is a larger picture. However, we'll decipher the smaller moves with that backdrop in the coming days.
Trending up within a channel still.
A simple "ABC" in the "B" wave could end sooner. If not, it will stretch higher.
Weekly Pivots were quite handy in the past. How's it going to be in the coming week..?
Trending up within a channel still.A simple "ABC" in the "B" wave could end sooner. If not, it will stretch higher.Weekly Pivots were quite handy in the past. How's it going to be in the coming week..?
11 comments:
Sir,
Both Dow & europe markets give up all the gains and are in RED now....sad monday in store for us ??!!
regards
Ilango sir
Thanks for Reply
i am frusted now
short bank nifty and wait for down move
dont know what to do
what is next resistance
there is no chance for reversal
excellent analysis sir!
great work!
regards!
Pankaj Shah
inverse hns in snp , hns in dollarindex , hope snp breakoutsss..
Ka sir, dow may not fall to that extent which will effect us on Monday. On the contrary, i feel it is good for our markets. It will be time for short sellers to cover & go long for another 300+ points.
Venky
dear ilango sir.is there any way-caluculation apart from jnsar to enter or exit.because jnsar is far away.once we book profits or losses .we have to wait for a quit long time to re-enter for jnsar.other wise it is becoming day trading.and is the ema 5 mentioned in the table is average of last one hr?is there any formula to caluculate it?
September 17, 2010 5:13 PM
dhiksuchi,
I think you've got a good point, esp in a trending market like this one, most end up day trading because the jnsar, psar and emas are all left far behind, not because they want to! You can try using day 5 ema as a sar.
The 5 ema on the TA table is monthly, weekly, daily and hourly, pick one and trade until JNsar comes up.
You can find the ema formula in the 'JustNifty TA' at the top.
Dear dhiksuchi,
Dear Yoda has pointed out the exact solution for the same.You are requested to use "Intraday Nifty" chart mentioned under "Education-TA / EW"right corner of this Blog along with the above said.For day trading with the help of Hrly Hema & Lema, 1 mint,5 mint intracharts,& above mentioned chart,you will get at least 2-3 entry & exit opportunities for long as well as short trades.They are very much helpful(or rather I would say MUST) for day trading purpose.You may try this.
to ilango sir and san......and all..
on the contrary to ur view posted that we make a ST top at 6000 and drop to 5750 lvls....do u see any possibility of a ST top at 5920 odd lvls and dip to the BO zone of 5620-70 lvls...before heading for new highs...
johnson
ilango
what is the pattern of wave-B its not fitting into flat,zig-zag or a triangle
M.Sri Mahdiar
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