Retracement strategy, a must for traders.
Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor...
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I 'll always be there for you. To make you feel that you're secured. And even if the rain is pouring hard and the sky is almost dark... -
5010-5039 supply zone proved a ST resistance. 5002 proved a break down point. 4945 to 4982 proved a corrective rise, monitored with an ... -
Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor...
36 comments:
@piyush,
If it is a double zigzag, even then we are in 4.C.
4.C started at 4910. And we seem to have done a
5-3 already and we are in the last 5 ??? Wouldnt that
mean we are at the end. Timeline wise we seem to
be a week off.
@ilango sir,
Thx for the chart.
Good Morning Sir and Warriors
@golfdude,
yes but this upmove can go upto 5350 based on fibo
ratios. wrt time , beckman stated that corrective takes less time .618 time of impulse, i havent found
sir labelling according to it and i dont use like
that.
Gm Sir & friends,,,,,,
Ns 5110 imp to break downside first
Thank you Master for the charts and guidance
.
@ilango sir,
Why do you think Wave 1 ended here ? Usually there is no way
to know that. I assume one can calculate based on where
we think the impulse should end ? ( based on higher degree )
@piyush,
Corrective takes 0.618 of impulse which happens to be
Wave 3 or more. In our case, Wave 3 took 23 days. That
was the reason i said 4-5 days more approx. 5350 is my
target as well.
@Ilango
A point to note that diverts away from the tech table
is the 8% rupee depreciation against the dollar in the
past six weeks.....FII holdings in India have lost
value by that percentage and could possibly trigger
some amount of selling.....this usually happens after
a brief lull and negligible FII activity in the markets
@Ilango
Further, a large part of this rally has been lead by
IT stocks due to the rupee depreciation which benefits
exporters....however, the net effect accured to IT will
be negligible, since most hedge their dollar earnings
in the fx forwards market.....most have not factored
in the sharp depreciation and continue to be hedged at
previous levels...
Your comments would be appreciated
@Ilango
My view is therefore, that we continue to face headwinds
and the overall trend continues to face downward pressure
....validated by you as well below 5330
SBI Resistance line: CLICK HERE
Where can I find a historical chart of USDINR ? I see
10 yr charts in Google but cant make out what wave
we might be in ?
Namaste Ilango sir and all,
5 Min NF chart updated:
Bullish Shark Pattern in 5min NF
@ Indus,
FII's have already pulled out a large amount before this Rupee weakness emerged.
@ilango
True...in august in response to the euro crisis...however
now we have the rupee depreciation to contend with..
just a thought process....that will eventually be
factored into the markets...perhaps after a rally
@piyush,
C.1 - 4910-5143
C.2 - 5143 to 4999-5027 ( 50% to 61.8% )
C.3.i - 5019-5168
C.3.ii - 5168 to 5076-5094 ( 50% to 61.8% )
C.3.iii - 5090 ( assuming ) to 5350 ( 1.62*3.i )
Thoughts ?
Hindalco... blog update
golfdude,
it may be. but when u look 5019-5168 as one wave
in 5 min tf wave 3 becomes smallest( just the look
of it)
Good morning all,@ golf dude your target for w4 (5350} is possible...alternate projection for w4 target is 50% ret of w3 {5250} take into consideration that w4 should not make a daily close into the closing range of w1(5258).
@piyush,
What does that mean ? So you are not convinced C.3.i being complete ?
@sudharshan,
You mean c.3.iv from my count above ?
Now below 5135 weaness for 5110
@ golfdude,
Also Considering the daily indicators are now nearing overbought zone,.. 5250 looks more like the w4 target to me, your opinion??
@golfdude for the entire 4th wave
@sudharsan,
Possible. c=0.62*a is also possible.
@piyush,
Appears this is not ii at all. Action seems sideways.
@ALL
Can anyone please tell me where I can watch VIX chart
live and history online, where I can use indicators too
Thanks in advance
AshishAg said...
Most of the people here are bullish.. which is worrying.. :)
September 21, 2011 11:58 AM
It is the lull before the ultimate storm
Weakness after noon as said by sir :)
@Ilango
Nifty finding the WHEMA too hot to handle?
@gd,
me getting convinced not imp. two can be flat
price movement.
New Post Done.
Are we going to have a 5125-5160 A-B-C-D-E today :). Time
spent in C wave to get to next week.
@PS Sir
Looks like the 5th Wave impulsive down completed a 3 Wave up in Zig Zag Way and Now again we are headed for the Fifth :)
Just for funn....
http://us.123rf.com/400wm/120/159/stevemc/stevemc0802/stevemc080200004/2494622.jpg
http://files.myopera.com/m2m99/albums/565103/Funny-Titanic-mrm.jpg
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