As of now it looks like the (BAT with target of 5965 ) Gartley pattern is over, as can be seen as the Wednesdays candle formed the top, Gartley based on Fibonacci Retracement and Extension has targets based on retracement of the CD leg of the formation.
TIME TARGET: The previous patterns took almost twice the time taken by CD leg of the formation, for this pattern to yield desired results the time horizon would be 57-76 days
PRICE TARGET: Technical Target of these pattern varies, Ideal point to book profit is between 61.8%-78.6%, but in the past instances the prices have retraced more then 161.8% of the CD Leg.
Possible Targets of Pattern:-23.6%-5776.49; 38.2%-5672.58; 50%-5588.60; 61.8%-5504.62; 78.6%-5385.05; 88.7%-5313.17; 100%-5232.75; 114.6%--5128.84;123.6%--5064.79;
127.2%-5039.17; 138.2%--4960.9; 150%----4876.9; 161.8%-4792
What ever the target of the pattern, am sure to be in the right trade(and of course good profit as always) with your Guidance and TT.
Also thanks a lot for allowing me to continue the Stupidity(Predicting the Market) :P
Regards
Harpreet.
60 comments:
@ Harpreet
First n foremost thanks for sharing your work/analysis.
Secondly the more time I spend on your charts, planning
trades looks easy. :)
Thirdly now I have made up mind to study "Harmonic Patterns",
in the coming days.
Thanks - Master n Harpreet
Yes Harpereet. I second BNS.(Let's take it that all of us have thanked Harpreet-just reduce thank you posts).
===
DR : Yes Sir. This blind man's stick can touch 5905-12 is the hope today.
hi all,
JNSAR's feel bored?
if you love dogs, try this link, auto play enabled to keep going
http://www.youtube.com/watch?v=oDCvYUpzonk&feature=BF&list=SPB370F8C58E501BF5&index=4
Regards
Girish
@all
today i am unablr to see, pictures in blogspot, and also unable to login in my google account, rest all sites working..whats the prblm..?/
Dear all
Can anybody explain to me Sir's post?(Harpreet). Does it mean that after reaching the target of 5965 nifty can come down to those levels mentioned in the Fibonacci retracement
Regards
Thank you harpeet and thank you sir
I think this time all JNfriends will get opportunity to trade with this analysis.
Dear RG,very true.
It looks,The real intra short covering would be there if it shall start to trade firmly above 5905 after 2.30.The way NS holding above 5890 (Hrly JNSR)one can not deny it.
Master,
Allow me to add a bit to Harpreet's great study - in case of a BAT reversal, the possible targets are --
0.382 CD = 5673
0.382 AD = 5652
0.618 CD = 5505
Harpreet - As per weekly (bearish gartley)v reached 1.270 (5933) do you think we made “high of this series” ??? 1.618 – 6013 is not possible?? Why u r “ruling out this”?? as only one day left in this week becoz of that or any other ta reason? If we take it in Monthly (bearish gartley) then 1.270 is again – 6013 :P I am not a “big bull” but still “itching is there for upside” doing long only for “intra” not taking for positional both (long/short) sofar very good support levels + coming week is “truncated week” any short covering possible? Once we crossed 5933 levels??? I am a “beginner”. Please post your valuable views . thanks n advance.
@Anil,
Close all browsers.
Switch off your modem or disconnect from internet and reconnect.
Try again it will work.
If it still doesn't work, restart is the only option. I have faced this several time before and before typing this message too..
hi all,
anyone in the blog viewers participating?
http://ibnlive.in.com/news/where-to-join-indias-crusade-against-corruption/148543-3.html
Regards
Girish
Dear RG & Mynac!
I dont think any short covering now, yesterday after closing below day pivot now problem in Bulls camp. They want to exit in every minor rally, below 5850-60 spot, there will be stempde. Yesterday's morning hourly candle is the best example of distribution. Negative divergence already in chart since 2-3 days...i still think that yesterday's high will cross in many days...and after days...may be..not in months too...If Macam dont support nifty. But this market has a very bad habit of surprising me, you and everyone:)
Noted Kumar Sir. I doubted someone is pulling Nifty from below. It is unable to raise. Is it you? Even 2.30 remains passive !!!
Is it a mini h&s in making - 5 min chart!
stop loss for my intra was shorts 5930. High made 5932 :((
@Ilango,
I am not looking for any holy grail at all. Certainly not after what I have been through. I am just looking for a trading system that consistently gives me a 125-175 Nifty pts/month.
In the past 2 months, the SAR trading haven't been very kind to those who did not part book. During those 45 days, the SAR system gave me a loss of almost 750+ points/lot. Unlike most people who would have lost hopes and reduced their lot sizes, I actually started increasing my lot size as I became very confident of a good trade in the near future.
My only gripe is that the moment I started introducing the part-booking strategy, the market gave us that 1 good trade that we were all hoping for.
And what added to my frustrations even further was the fact that today I had an opportunity to buy BNF at 11700-720. Because I was going to be away for an hour or so (11 AM till about noon), I needed that extra bit of cash to place the stop loss orders. I had the money in the bank. But when I tried transferring the money to my RK Global trading account, it kept telling me that my account number was invalid. When I directly logged into the Online bank account, there wasn't any issues at all. First time in a year I ran into such a problem.
Hence I did not buy the BNF @ 11710 because I was afraid of holding it without any stop loss. When I came back around noon-ish, BNF was trading at day's high of 10830.
@DR,
I try to handle the whipsaws by increasing the lot size after a 400-500 pt loss. Because of Karunanithi, Japan, etc there were far too many whipsaws.
Dear Kumar,
At last you pushed Nifty below 5890.:))
Nifty (increasing lots another mistake)
Increase lots only if you have three months
profitable trading.
Now shall look at 5881.:))or want to push further down up to 5860?:))
One can walk easily on one feet wide path on ground
but if that path is in between 10 story building its very difficult
Same is with trading
Dear RG!
5930-5960 spot are the levels, where Bears will alwaz attack in DO or DIE manner...bcoz its war of survival.
Dear Harpreet!
Ur analysis worked like a inhaler for me...now my straddle may give some money back to me & my followers...no time issue...rollover facility available.
Dear Mynac!
In my view..top made yesterday...now trapping traders for own exit.
Dear Mynac,
Kumar sir, still protecting NS 5872 for McCam..!!
Sirrrrr - my head is breaking..now fire too with “retracement level” :P I am “alone with my upside possibility” :P you too will not support me sir?? Whenever the downside comes excellent “support” it’s showing + both the index touching the “superb impt” levels. I am in wrong view or the “upside possibility is still open or not’ please clarify me. Thanks a ton in advance.
Anybody knows what is that “No” just a small “puzzle” Sir, you please “leak the answer” :)
PS : I got down from long @ 5920, now doing “trading” not any positional.
@ Kumar - yesterday told u that “this week it will protect” again at dressing room 5872 it will do some make up and come back?? Let us see. But this market has a very bad habit of surprising me, you and everyone:) agree with your line.. only difference is “it will give surprise for you” becoz u r “intelligent” but it will slap me “as I am a fool predictor” :P
Dear Prabhakar!
Aane wala pal....(5872) jaane wala hai..ho sake isme Nifty nikaal lo..Level ye bhi jaane wala hai...just kidding...no no..just singing...
Sir - Errrrr - DON'T LEAK THE ANSWER :)
Due network issue, i was not able to post oi.
Now it seems PUT have upper hand and NS may move higher.
5900 put oi up by 26.21% vs call up by 19.84%
@Sujatha,
My desire for market coming down is for a very selfish reason. Want the JNSAR triggered! :P
Noted Kumar Sir. Infact combining your levels and Sir's route map for positional - "begger has more variety on his plate" (a Tamil saying).
Kumar sir,
Even though i couldn't understand the exact meaning. I will take it as
"ithuvum kandhu pogum"
Dear Kumar,
For Bulls ...Close above 5881=relief,above 5890=more relief,above 5903=Big relief & vice varsa for bears.:))
Ilango sir, if closing again below DHEMA, can we carry shorts??
Thanks
for traders Kali Pos 6X not sufficient
some strong doze like Black Bull/old monk required
Now Portugal is asking for bail out package...who will help
NSE Holidays coming weeks
12-Apr-11 Tuesday Ram Navmi
14-Apr-11 Thursday Dr. Ambedkar Jayanti
22-Apr-11 Friday Good Friday
@ DR
I forgot to mention that I started trading with SARs in late Jan.
When I first started, I did not go all out. I am not a huge fan of leverage. I knew I could trade even with 5 lots if I wanted. 3 for Nifty and 2 for BNF. But instead, I initially started out with only 3 lots. 2 Nifty + 1 BNF. As the system whipsawed, I increased it towards my optimum level.
I plan to whittle it down to 4/3 lots if I can eke out yet another good trade.
@ Sujatha,
Your observations are having full merit as per price behaviour till now.
Triple divergences haven't affected the prices...may be too many watching them and markets are evolving. "5855" from where two sharp rallies happened" is a crucial level.
Aggressive shorts suggested because of the "Cluster of resistances @ 5935-5965". Sell on rises is for intra dayers only.
Time is running out for both bulls & bears alike. AT such junctures, trade with caution. Let the market show its inclination. OR Hedge and remove the hedge once the direction is clear.
Dear Nifty,
Market was good since last mid March to till date...how u lost 700 + pts in NIFTY ?? Could u please share ur trading mistakes...so we will take care in future...Thanks
aaj itni be mayasar naheen hai maikhaney mai;
hum jitni shod dia kartey thay paimaney main
@Ilango Sir
This is clearly a consolidation happening.There are many pointers. Rotation into mid caps and small caps is leading to flat nifty. Along with this charts on bank nifty, ICICI are clearly showing consolidation pattern.
I think many are waiting for this trend line connecting 6337 and 6100 odd levels to break or treating this as resistance. However this trend line has already been taken out on S&P Defty which is Nifty in dollar terms. So it is just a matter of time before it gets taken out here as well
Master,
Does that mean 5855-5965 breakout would give the next trending move?
Dear Mynac!
So partial relief in favour of Bulls, going to close between 5881-5890. So u r also on Camarilla operator side, nobody wants to save this wounded Bull. PowerTrade also joined Anna Hajaare's movement...feeling lonely.
Dear DR!
Old Monk in april month, feeling vertigo:)
@ Ilango
In the mid morning I asked you whether there is any trend reversal. Now your answer to Sujatha madam cleared my doubts. I am glad Sujatha also had similar doubt.
Thanks and regards
LV
AD supporting
FII buying
But Why nifty dying?
Thanks Lord!
@RG Sir : I agree with the view to cut down the number of 'Thank u' posts. Its the responsibility of ever family member to contribute their bit.( i am trying to)
@Fire: Thanks for your valuable inputs, Omitted retracement of other Legs to reduce the number of Possible targets.
Sujata Mam: If you are a beginner,then we need to change the meaning in Dictionary.:P.
The time taken by CD wave should be same as XA wave, so assumed CD is over,(XA took 38 days 27 bars and CD took 40 days 27bars) the possibilities of other patterns still exist and the same were posted by LORD on 28th March premarket view,
Arvind: Possible point to CD wave of the BAT was 5966, which was almost achieved 5943, as per the time study it should start moving Down.
Treat is as a reference only and follow TT, JNSAR,(the method you are comfortable with)
Regards
@ Life's funny,
The short term is weak since few days and traders are exploiting them.
Day TA remains up.
@ Fire,
5855 to 5930.
Sir – thank you very much for your reply and guidance. Yes, price is king proving again and again. Another reason for me is – next week is “truncated” hence short covering possible if this week 5872 protected “unstoppable itching” . Another observation is “consolidation” gives upside in truncated week (I experienced once, donno whether history will repeat or what ) Trading with caution “from the market + my guests” .
LV – mm.. I am “glad” to know about your view on me .” I am glad Sujatha also had similar doubt.”
Thank You Harpreet...Sawa lakh se ek ladawan...Thanx for clear cut view.
Bye Sir and Friends.
Relax San and Enjoy DR with Teacher's intoxicating blessing.
lets switch to Yellow metal after cup of tea :(
Master,
Thanks a lot.
@Harpreet,
Incorporating time calculations after seeing your excellent studies. Thanks for teaching.
Harpreet - got it thanks. CCP work done in my 'word doc"
time study i never "did" :P
@shabsaif
I started trading the SARS with real money only during the end of Jan 2011. I still remember that there was 1 500+ Nifty SAR trade in Dec/Jan. I missed 'em because I was paper trading.
Once I started trading the SARs, I never missed even 1 trade as one is never sure which one of these is going to be an excellent one.
Thanks & Bye Everybody.
Thanks & Bye all.
Dear DR sir, Have a nice evening. n'soy.
@ Harpreet,
Understood. Thank you very much.
Regards
@Harpreet, thank you for the study. If the 161.8 target is met (4792) by June 30th, then buying June 5000 Put at CMP 35 will yield nearly 200. A lottery :-)
At what upper price, does this pattern get invalidated?
dear Harpreet,
nice work and good study in ur analysis.
Can i have ur messenger id my mail id is psvohra68@gmail.com
would like to talk 2 u
thanks
parminder
@ Nifty
http://www.bankniftytrading.com/2011/04/whipsaw-song.html
Dear Ilango Sir & Blogmates,
Everyone talking about shorts, but is it OK to Short? Option Analysis 07-04-2011
Thanks & Regards,
Sanjay Kr Jaiswal
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