Just Nifty: Nifty Intraday Update-II

Friday, January 27, 2012

Nifty Intraday Update-II

30 comments:

Ilango said...: @ DR,

2nd waves retrace a lot giving the impression of continuation of bull market.

In the current context, it is the "X" wave or "B" wave( "A" being 6339 to 4532)whose sub-dividing terminal wave -"c" wave can be sharp and unsettle traders/ investors and then resume downtrend.

If you'll remember, we have posted a weekly EW chart few months with full labelling on your request wherein we have marked "End of wave-II around 4500" in one view and the other being more down around 3900.

You preferred the "Wave-II @ 4500" and the same seem to be playing out presently.

Whenever any deviation occurs we'll be knowing it as well as "IN" it.; January 27, 2012 12:10 PM
Hitendra said...: BN slowly inching up ...; January 27, 2012 12:32 PM
SP said...: I will be grateful if anyone/master here could share
the link of weekly EW chart to which master is
referencing here, since I have missed it.; January 27, 2012 12:33 PM
San said...: Bank nifty futures intraday update: CLICK HERE; January 27, 2012 12:39 PM
Dinesh Rishi said...: Thanks Sir

I remember that post

I got the print of that chart but dont have
date on it

this weekend
will dig the original post
& in waves wanna get lost

now sun sand and surf is E waves

my baby step towards waves

http://us.123rf.com/400wm/400/400/petrichuk/petrichuk0703/petrichuk070300064/813555-merry-child-on-beach.jpg; January 27, 2012 12:42 PM
Rising Star said...: resisted at HHEMA and also coincides with 50% correction of this down move today.; January 27, 2012 12:47 PM
San said...: Weekly EW post: CLICK HERE; January 27, 2012 12:48 PM
golfdude said...: @ilango sir,

I am confused on the (a), (b), (c) in the weekly chart.
If this is 2, is this a flat or zigzag ? Doesnt
seem to match either of the criteria. Irregular then
means we will have atleast 5 waves (a) to (e).; January 27, 2012 1:00 PM
AJ said...: @Rising Star
Nice profile pic, hope there are pleasant memories of that day
By the way which day it was?; January 27, 2012 1:00 PM
SP said...: It will be better to get the link from anyone...but
getting it from charts master itself is more better.

Thanks San.; January 27, 2012 1:02 PM
piyush sharda said...: u cant do it faster than san :-).
still this is another one

http://tradeinniftyonly.blogspot.com/2011/01/sweet-music-to-lt-bullsmanulistening.html; January 27, 2012 1:02 PM
Rising Star said...: AJ: Dont remember now..:) indeed it was mayhem dat day :); January 27, 2012 1:14 PM
AJ said...: @Rising Star
Found! 28 Feb 2011, Monday :D; January 27, 2012 1:26 PM
satheesh said...: @PS,

Breakout of the channel shown in the above charts (30 jan 2011) will happen if NS trades and closes above 5230 within the coming days - a channel breakout after one full year!!!

Hats off Sir!!!; January 27, 2012 1:27 PM
Ilango said...: @ Dreamer,

As long as Nifty is below 200sma, such an occurance is very much possible.; January 27, 2012 1:28 PM
AJ said...: @Rising Star
Choppy markets after 1000 points fall last January, that's when seed of bear market were sown :D; January 27, 2012 1:30 PM
Dreamer said...: Hi...

Sir,
Looking at the USDINR setup.... I have tried various counts.

The only one making sense is that we have finished wave 1 from 43.80 at 54.28
Presently in wave 2, which is nearly back in the 4 wave area.

If this is correct, and looking at the oversold RSI, and three wave down move yet,
a massive 3rd wave on the USDINR, should produce a downmove on the equities side.; January 27, 2012 1:31 PM
Dreamer said...: Also, just an observation..... if we are in a triple ZZ,
if we notice B wave rallies of the 1st and second ZZ, retraced about 75% odd of the A wave down
At the same time they came close to the channel top. And each X wave has reached the channel top.

The last fall from 5400 to 4531, did not have a B retracing 75% or touching the channel.

Could it be that the move from 5400 to 4531 was just an A leg,
with the B leg now unfolding, achieving near 75% of A, and touching the channel,
before the final C down of the triple ZZ; January 27, 2012 1:31 PM
Ilango said...: @ Golfdude,

The most important point to remember while applying EW is:

Never strain for waves.

To me, it looked like a double zigzag. And an "X" wave is being formed presently.

Often the sub-waves may not look clearer until you go one time cycle below to get more clarity.
I get my clarity by combining TA with TT and it makes the direction following/ strength & weaknesses easy.; January 27, 2012 1:32 PM
Rising Star said...: AJ: :) Imagine 175 up n down each side dat day. must have been heartburn for some retailers.; January 27, 2012 1:40 PM
Dreamer said...: has anyone here does an EW count on USDINR?; January 27, 2012 1:44 PM
Hitendra said...: What is the value of 5day/14 day RSI of 25/1 eod?; January 27, 2012 1:48 PM
AJ said...: @Rising Star
And then there are days like 23-Jan-2012, 30 point range day, or even the expiry day this January.
If one studies the price behavior on these kind of extreme days we will realize that there is no point in market prediction. Still we chase studies/indicators that give us a "target" of some sorts :D; January 27, 2012 1:52 PM
shabsaif said...: Dear Sir and All,

Well said sir…..as per my observation, after last four week big move ( 10 %), NIFTY should range bound for next 5-10 trading days, may be volatile intraday…

If we see long term, there had been no change in nifty since last one year, I mean, in 2011 Jan –Feb NIFTY was 5150-5200, today also same; January 27, 2012 1:56 PM
POWERTRADE said...: Good noon sir and warriors; January 27, 2012 2:02 PM
piyush sharda said...: @satheesh

yes the channel very close to breakout. looking at the momentum it will mostly breakout.; January 27, 2012 2:05 PM
Rising Star said...: AJ- Perfectly you put it across. I guess its ok to look at some range where you book profits but absolute values can indeed be disaster.; January 27, 2012 2:06 PM
Tigar said...: Can anybody update on Reliance Ind. 200DEma & 200DSma
value please.; January 27, 2012 2:09 PM
Ilango said...: New Post Done.; January 27, 2012 2:12 PM
AJ said...: @ Rising Star
LOL, very important post someone wrote :))

http://jeebharkekamao.blogspot.com/2011/03/budget-day-as-exciting-as-india-eng.html; January 27, 2012 2:15 PM

Post a Comment

Subscribe to: Post Comments (Atom)