Wednesday, May 2, 2012
Nifty, resisted @ golden ratio, continues to close below momentum showing High emas.
Such weakness after a short term reversal could only be because of a 2nd wave correction(1st being the rise from 5155 to 5262 or 5280). If so, the correction should restrict itself to 5195-5215 zone and start its 3rd up wave tomorrow itself.
Failure to do so would indicate the bearish golden trade of today's(61.8% of the 5-wave fall @ 5271+ coincided with an "abc-3 wave" rise from 5155 to 5280) to assert itself for more downsides.
18 comments:
@ Sujatha
No all is not well.Lost today due to indiscipline to TT
and TT.
@ Master
I wanted to ask you why don't you take into account the
clear signal which is often given by the "Leading Indicator"
which you post on hourly basis.
Leading indicator was in sell mode since 12 noon today.
Please do guide.
Truly yours.
May 2, 2012 3:48 PM
mridul said...
again all set for a surprised fall....its tecnical based
May 1, 2012 12:17 AM ..tecnicals never fails
Hi All
What is the VIX?
The VIX is a measurement of the implied volatility of the at the money OEX Index Options.
Markets Rise When
High VIX readings usually happen after markets go through sharp sell offs and when fear is rampant. During these times, sharp upside reversals often occur.
Markets Fall When
Low VIX readings usually occur when the market rises. This tends to show that complacency exists in the minds of most market participants and a sell off is near.
@ Master
Refer above post and posts from Akash and few other friends
Please share your valuable thoughts on VIX.
There is no rise in the market since long and VIX is at
its lowest seen ever
@ Mridul
Is your email id available on Dhanavarsha ?
The VIX links given earlier in the day doesnt seem to be working.. If one of the seniors can explain
how to read VIX movements and apply the same for trading it will be great.. Thanks a lot.
@PS
i short today as nifty touch 5227!! so my SL will be 5247 for
tomorrow right? or any other system. thank you sir.
@anmpatel
yes if u shorted at 5227, 5247 will be sl.
jobs data on friday -looks bleak
french election results on sunday-looks -ve for euro and risk assets. so "smart money" is already shorting INR. better be short than long. if long pls be hedged.
@Jagan Ji,
Thank you for the Wishes
With Warm Regards
@Sujatha ji,
Thank you for the wishes.
Your posting always brings " Wave " of freshness and enthusiasm which is infectious in a positive way. I pray to Almighty to wish you best of everything life to spread the wave of freshness where ever you live.
With Warm Regards
Namaste Ilango Sir & Blogmates,
So Bulls got a chance to stamp their authority but bungled up at the end; Option Analysis for 02-05-2012
Duplicated at Wordpress Site
Thanks & Regards,
Sanjay Kr Jaiswal
Dear Jayaraman,
Congrats to your son for his achievement…
Dear Gauresh,
My best wishes are with you, for your father’s fast recovery….
Manish - If v not "face loss and struggle in market often " sure damn...you can see "JN-mates only in FORBES LIST" :) :) all others "out" like "deccan team" :P :(
Jayaraman sir - thanks a ton for your wishes i feel your wishes came @ right time
mynac ji,
Thank you for the Wishes
With Warm Regards
As suspected in the earlier postings market after reaching 5280 shown sign of weakness and corrected to the level of 5226. This obviously opened the earlier suspected ET structure. This implies the movement from 5154 to 5280 is 'd' leg of ET and 'e' leg of ET is progressing towards down side.
Wave A = 5379 - 5191 = 188 Points
Wave B = 5191 - 5336 = 145 Points
Wave C = 5336 - 5154 = 182 Points
( Terminal points I am not sure since that point of time I lost my concentration for few days )
Wave D = 5154 - 5280 = 126 Points
Wave E = progressing towards south with the maximum potentiality of touching 5100. Normally 'E' leg moves around 38% to 62% of "C" leg which implies the current down side possibly may take support around 5170.
CONCLUSION:
Initiate long @ 5170 or 5130 with appropriate STLP depending upon the risk appetite.
In case market happen to touch 5260 / 5270 in fore noon session initiate short at these level with STLP of 5275.
In case market breaches 5090 the above labeling will be changed and as when it happens we will do detailed analysis
@Master: GM. I guess nifty is trying to fill the gap up @5220 today. I am thinking of the following strategy.
Long on nifty ~@5220 levels with 5190 as SL & reverse below it for tgts of 5150-5135 levels.
Long on BN ~@10260-80 levels with 10170 as SL & reverse below it for tgt of 10050.
Doubt: As per your BN chart, has BN JNSAR triggered long @10263.
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