hi friends Jigs here is my call on expiry based on median line analysis method.If Price hits the 5180-5200 zone, it would be another example of the magic of median lines :). Expecting price to hit 5180 and then profit booking to start which may drag price down to 5080-5085 levels at the LMLH support.If volatile on the expiry day then we can expect this to be the series close. Chart to support this can be seen in this link http://niftytradeswithpitchfork.blogspot.com/2012/01/24012012-tuesday.html
@Dinesh Rishi, I'm not an expert.But as I remembered- according to Nirav Jaf -- unfilled gaps mean either 3rd wave(maxm chance) or,5th wave. Recently,Mr Vivek Patil said - there is already 4th gap-up unfilled which might be exhaustion gap.
Still long from 4865. HLEma is 5114. developing DHEma is 5092. Yesterday's pivot is 5107 and DHEma is 5058. Safe shorts below 5058. Aggressive shorts below 5092. Trade profit - 260 pts
Break-out gaps "may" get filled with a pull back which should happen within a short time of this gap.
Run away gap, during a strong reversal, do not get filled up for a long long time. Eg: Post election rally in year 2009. This kind of gaps are usually found in the "iii"rd of 3rd waves.
Exhaustion gap happens usually when the ST top is being made and gets filled up soon.
Characteristics of gaps vary depending on the type of market based on various T/F positioning.
Current reversal, if confirmed with a close above 4959 on 31st Jan, would suggest of a larger reversal targeting 5440 & 5650, in which case some of the gaps may not get filled for quite some time. (One gap could be 4899 to 4904)
I have observed that in weekly chart of all major banks like SBI, ICICI BK, AXIS, HDFC BK volume is just half in previous three week of what was in march 2009 low when bottom formed in previous bull market. Does this imply that this rally in going to end here?
If anyone observed plz share. I m still learning from this site. thnx in advance
EW angle for ur consideration Pls look @ EXPANDED FLAT as : A: 4639 -5100 = 460 pts B: 5100 -4532 = 570 pts C: 4532 -5127** in play shud do min 1.618xA = 740 pts = 5272 Within the C, we may have finished the 3rd wave as: C.1 : 4532 - 4801 C.2 : 4801 - 4588 C.3 : 4588 - 5141
If indeed C.3 is over, we shall head lower via C.4 to ruffly 38.2%x550 = 220 pts lower to 4920
"Reading Oscillators" - Oscillator reaching OB zone while prices unable to retrace the last fall suggests that the rise is of corrective nature.(SL is closeby - the high)
last fall was from the open to the day's low - 5160 to 5130.
While oscillator moved to the OB zone, prices did not retrace the fall fully suggesting the rise from 5130 to 5155 as a corrective kind and another round of fall is likely to emerge.
SL is close by means - for intraday shorts @ either 5155 or 5160.
Beckman read once as novel Now reading seriously With pen and charts on desk
During my first reading The best part I liked was he has not spared anybody let it be WD Gann, Bob, Robert or Jesse Livermore.
At Chp 13 page 187 he has written
Prechter, after cautiously mentioning that his Elliott Wave Theory advice was intended only for risk-taking professionals traders, confirmed that what was said was true.
(What said was by one of analysts is – “You know what? Prechter keeps all his money in mutual funds.”)
I have gone through much of ur materials provided in this site though not fully. I might not understand fully, my question is about volume . master, u give importance more to price in comparision to volume? Is volume matters only for stocks ? OR it not apply to nifty & BN? May this question appear silly for u & many seniors & blogmates Sir, if u find some time then plz try to answer.
Who is actually buying, what is the % of retail investors like me. Yesterday was Tuesday and again I burned my fingers. This time market did not gave a single correction and stayed above; once opening gap up. That too moving in tight range. Last time in March 2010 when all indicators were in overbought, still market was moving because of it's own hidden rule (Mass Hysteria). And next correction happen in April 10. Nifty was in bull run for Almost one month in overbought conditions and continuously defying all technical rules.
I request Illango Sir and experts to give some light on overall market view for next 6 month.
45 comments:
WHAT IS "Bow-Tie Diametric" ?
Respected Ilango Sir
Nirav on VFM use to say
this is wave (dont remember 3rd, 5th or c)
starts with gap and the gap dont get filled up.
Sir, can you throw some light which wave's
characteristic is to Leave gap unfilled
Namaste Ilango Sir And All.
hi friends
Jigs
here is my call on expiry based on median line analysis
method.If Price hits the 5180-5200 zone, it would be
another example of the magic of median lines :).
Expecting price to hit 5180 and then profit booking
to start which may drag price down to 5080-5085 levels
at the LMLH support.If volatile on the
expiry day then we can expect this to be
the series close.
Chart to support this can be seen in this link
http://niftytradeswithpitchfork.blogspot.com/2012/01/24012012-tuesday.html
Kavima
Kavima
No ifs
Only one number plz
if your number is near to close still you will win
@ DR
Ok , My level is 5080 :))
@Dinesh Rishi,
I'm not an expert.But as I remembered- according to Nirav Jaf
-- unfilled gaps mean either 3rd wave(maxm chance) or,5th
wave.
Recently,Mr Vivek Patil said - there is already 4th gap-up
unfilled which might be exhaustion gap.
HH-HL trade update -
Still long from 4865. HLEma is 5114. developing
DHEma is 5092. Yesterday's pivot is 5107 and DHEma is
5058. Safe shorts below 5058. Aggressive shorts
below 5092. Trade profit - 260 pts
@Manish,
LMAOOOOOOOOOOOO....
@tanayb51,
If its not very inconvenient for you, can you send me the report of Mr. Vivek Patil? Would be much obliged.
@ DR,
Break-out gaps "may" get filled with a pull back which should happen within a short time of this gap.
Run away gap, during a strong reversal, do not get filled up for a long long time.
Eg: Post election rally in year 2009. This kind of gaps are usually found in the "iii"rd of 3rd waves.
Exhaustion gap happens usually when the ST top is being made and gets filled up soon.
Characteristics of gaps vary depending on the type of market based on various T/F positioning.
Current reversal, if confirmed with a close above 4959 on 31st Jan, would suggest of a larger reversal targeting 5440 & 5650, in which case some of the gaps may not get filled for quite some time. (One gap could be 4899 to 4904)
gud morning sir and blogmasters
@Fire,
I'll send
Good morning master & to all seniors,
I have observed that in weekly chart of all major banks
like SBI, ICICI BK, AXIS, HDFC BK volume is just half in
previous three week of what was in march 2009 low when bottom
formed in previous bull market.
Does this imply that this rally in going to end here?
If anyone observed plz share. I m still learning from this
site.
thnx in advance
nifty may go down slowly making
lower high lower low pattern
and may take support in 5088-91range
expiry may be near 5125....(5088+5161)/2
Thanks Ilango Sir
gap of iiird of 3rd
I have highlighted in my diary
DR Sir EW Master ???
Good Morning everyone,
EW angle for ur consideration
Pls look @ EXPANDED FLAT as :
A: 4639 -5100 = 460 pts
B: 5100 -4532 = 570 pts
C: 4532 -5127** in play shud do min 1.618xA = 740 pts = 5272
Within the C,
we may have finished the 3rd wave as:
C.1 : 4532 - 4801
C.2 : 4801 - 4588
C.3 : 4588 - 5141
If indeed C.3 is over, we shall head lower via C.4 to ruffly 38.2%x550 = 220 pts lower to 4920
Resistances for ST: 5170 - 5195 -5210
rgds
highly overbought...i see nifty expiry@5010
Exp at 5172.90.
GM Everybody
Sir mail sent pls check as per your convenience.
Thanks
Markets can remain Overbought or oversold and be irrational for a long time.
Expiry below 5130
"Reading Oscillators" - Oscillator reaching OB zone while prices unable to retrace the last fall suggests that the rise is of corrective nature.(SL is closeby - the high)
Sir - did not understand "SL is closeby - the high" ...
SAM said...
DR Sir EW Master ???
+++++++++++++++++++
I am critic of waves
so studying to become more expert critic
Lolzzzzz
Maxy is it 5010 or 5110 ?
expiry at 5195..previous weekly low of jun 2011 and 5200 callpoints to highest OI.
Ilango sir, any chance left for red abc scenerio??
Very diplomatic DRji
Gm Illango sir & frends.
@Jigs my expiry target 5105.
Fellow traders few trades have been posyed in Nf & Commodity.
Intrested may enter with me.
Exp @ 5070
@ Bizagra,
Unless a substantial retrace (more than the earlier ones) happens in terms of Price/ time, both options remain in contention.
no red spot yet since open in nifty 5 min charts
@ Hitendra,
last fall was from the open to the day's low - 5160 to 5130.
While oscillator moved to the OB zone, prices did not retrace the fall fully suggesting the rise from 5130 to 5155 as a corrective kind and another round of fall is likely to emerge.
SL is close by means - for intraday shorts @ either 5155 or 5160.
Dear Ilango Sir,
I am not able to understand your comment made at 11.24A.M . Can you please explain?
Regards
if we consider as either nifty has made its hi or low
and considering 70 pts intraday range then
tgt may be
5200 or 5090
SAM
Beckman read once as novel
Now reading seriously
With pen and charts on desk
During my first reading
The best part I liked was
he has not spared anybody let it be
WD Gann, Bob, Robert or Jesse Livermore.
At Chp 13 page 187
he has written
Prechter, after cautiously mentioning that his Elliott Wave Theory advice was intended only for risk-taking professionals traders, confirmed that what was said was true.
(What said was by one of analysts is –
“You know what? Prechter keeps all his money in mutual funds.”)
when BPCL type of stock is highest gainer in nifty
is it an indication of barrier in upmove in nifty??
New Post Done.
Dear Ilango sir,
In the chart u have mentioned'3rd wave overshooting
the channel'
wht does it mean?
Is it a pre curser of a big move on the upside?
Can we take it as an impulsive upmove?
Thanx in advance
Respected Master,
I have gone through much of ur materials provided
in this site though not fully. I might not understand
fully, my question is about volume .
master, u give importance more to price in comparision
to volume?
Is volume matters only for stocks ? OR it not apply to
nifty & BN?
May this question appear silly for u & many seniors & blogmates
Sir, if u find some time then plz try to answer.
Do we all are in denial phase of this rally?
Who is actually buying, what is the % of retail investors
like me. Yesterday was Tuesday and again I burned my fingers.
This time market did not gave a single correction and
stayed above; once opening gap up. That too moving in
tight range. Last time in March 2010 when
all indicators were in overbought, still market was moving
because of it's own hidden rule (Mass Hysteria). And next
correction happen in April 10. Nifty was in bull run for
Almost one month in overbought conditions and continuously
defying all technical rules.
I request Illango Sir and experts to give some light
on overall market view for next 6 month.
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