R1 @ 5298-Done.If resisted below DHEma, a "pause" for few hours possible.
Sir , Can we say hour TA is showing bottoming as the decending order of close , high and low is broken.
Nifty , has to stay above 5316 for further up move. Crossing resistances 5345-5390 is major task for bulls. Resisting near 5299-5316 & breaking supports at 5280-5250 will bring more weakness.Supports & Resistances for today:-5250-5380 – Support Area5315-5345 – Resistance area.Current Trend: - UP.Possible Movements:-1. 5280< = >5299< = > 5250< = > 5208< = > 51822. 5280< = >5316< = > 5250< = > 5208< = > 51823. 5280< = > 5316< = >5340< = >5370.Two best rules for successful trading:-1. Initiate position in the direction of trend near support & resistances.2. Max stop loss - 30 points.Happy disciplined trading to all.Have a nice day!
@ Smita,Yes. Hour TA seem to suggest a bottoming. TT too suggest the same.However, keeping below 5303-DHEma & R1-5298, a correction for the "5258 to 5298"(40 points) rise is possible.50% retrace for the same comes to JNSAR.This could materialise without affecting the technicals in "Intra Hour".
कुमार साहब प्रणाम सवीकार होपेंश ऐय खिदमत हैएक शिव भजन - सावन शुरू हो गया है http://www.youtube.com/watch?v=A0pn9iyfqPs
@Sujatha,Now I am looking at today's movement curiously. As master says ...."Target Valid as long as the channel support holds OR the form gets completed with an 'abc'....."This 'abc' formation is going to be tricky for most of us. It is important to have our tight SL ready for both sides of trade. I believe this is the calm before the storm. Somehow getting strong feeling that days ahead will be for PT bhai to become active. :)
The characteristcs of this rising wedge is the "Rises and falls" are diminishing.a: 4770-5190=420b: 5190-5042(5096)=148c: 5096-5317=221d: 5317(5333)-5258=75e: 5258+(53% of 221=117)=5375(it could be lower too)Look for an "abc" upmove from 5258.(a):5258-5298(b):5298-XXXX(c): pending.This is one view.Be prepared for the unexpected.
Thank you sir Rgds
Aimnifty - mm.. if ball goes to PT's court then all z well :) but still feeling an upsteam left. Look the TT - yesterday my 270 was holding and today it may try to close abv 98 level hourly means then my aim is for 302/15/18/20 if at all the same 270 not taken out on closing basis. me too booked once @ 98 as that's intra CAM H4 there is no rule breaking :)
great calculation master
Kumar sirGoodmorning te Sat sri akal.
Thanks master.The picture is clear with abcde now.
July 10th, till now earned only fortea/coffee expenses in Intraday ScalpsRB - RB - RB - RB - RB - RB - RB - RB.
Good Morning Dear ILango sir & everyone!Dear ILango Sir,Is rising wedge pattern also called Ending diagonal in EW? Now should wave d overlap wave b somewhat i.e go below 5190 here to justify it or not a rule?Dear DR Ji!Pranaam Bandhuwar....Thanx for Shiv Bhajan, its for you now:) http://www.youtube.com/watch?v=Wp9OwlYrEUYDear Manish! Sat Sri Akal
JuliusBy God. not even pea nuts for evening :(
@Mr.Cooldent,Good Morning - Have a Nice Day.:) After last Decemeber & March scalpsThis month i feel uncomfortable.
Morning everyone!have a gr8 trading daycheers
@ Kumar Technicals,Very valid observation about the "Overlap".Generally ED has overlapping moves.Form/ pattern of a Rising wedge is there. The charateristic is missing. Overlap is not a rule.However, one need to pay heed to the resisting & supporting line's relevance with the developing technicals at such moments and act.
@kumar sir,my knowledge is limited but i think this is not an ending diagonal but a leading diagonal and the difference is ending diagonal has (33333)waves where as leading diagonal is (53535)waves
Ilango Sir.. what are the possibilities after the rising wedge is complete.. rising wedge is mostly a bearish pattern which eventually leads to a breakdown right ??
Dear Ilango Sir & Blogmates,OI Update at 11:00 AMThanks & Regards
Julius sir Pl explain camrilla for ns nf they Totally different n confusing or any other boss
i love this stock market most, becoz its a great ego buster,great leveler,great cheater,great confidence booster,and helps in getting support and resistance level in any relationship
Dear ILango sir!Thank you so much for your detailed reply. I have read that ED occurs in wave 5 or wave C but here we r counting ED from 4770 hence asked because i was confused as C starts from 5096.Dear Shivan Gupta!Thanx for your reply too, i am learning EW so clearing my doubts with sir.
and now that 61.8% of 5333-5258 is done @ 5304 , lets c if we get soft idlis back down to 5250
Dr kumar ,saadar pranam sir.☺
@Mr.Sandeep,No need for confusion.Follow anyone with affordable SL.Don't track both data.Follow anyone.
aimnifty - 1st target done.."sir told expect unexpected" shhhh still foolishly expecting unexpected on "upside steam". 11 am close just missed by "one no." :( but will change my coat at any time if my upside no. not reached or if i feel not "reachable" will watch out "sweet 16" how it's reacting there
@Shriramji,Pls. No. I want Pizza for the Lunch.
bearish WW pattern developing in intraday BN chartstrgts below 10600 near 2.15pm
Shriram - ji - wat is your SL???
stock4 - whenever u r posting WW kindly mention ur SL to enable us to learn . tks n advance
Dear suja:No SL, becoz no Short trigger.. 5hrEMA has NOT TURNED yet! just an expectation (which in EW is called a lable) :-)
@Sujatha,Hour lead indicator is approaching midpoint, let's see if it retreats from there. Today's 2nd half will be very interesting may be after 2pm. Till then I'm expecting grinder.
Who Expects 5342 Break today?
12/July IIP Data.
@ Kumar Technicals,6339 to 4531 may be labelled as "A" of the larger "C" wave down.The "B" wave has internals as:4531 to 5630: a5630 to 4770: b4770 to ????: cFrom 4770:4770 to 5190: (a)5190 to 5042(5096): (b)5096 to 5317:(c)5317 to 5258: (d)5258 to ????: (e).This is a bearish labeling.If bullish, the fall post the rising wedge should hold 50% or 61.8% retrace of 4770 to 5333 and move higher. OR The retrace is limited to 50% to 61.8% of the latest rise of 5096 to 5333 and move higher.
@Julius sir,I am expecting.
Julius sir - varummmmmmmm ana varaadhuuuuuu eagarly expecting no. but :( if atleast BNF touch 711/45 shhhhhhhh i will be happy and get downAimnifty - thanks that's PT's favourite point too :)shriram-ji - thank u very much so little more upside??
Coat changed with SL of 5336 H3 weekly
@juliusis it today or thursday 12 july??
namaskar nilesh,pavus chalu ahe , nisarga hirva gaar astaana , apan kashala pizza cha naadi lagayche ?? tya peksha garma garam bhajji khauyaat ;-)@ suja: upsides can face res @ 5304-5318-53335hr-10hr EMA can give Hrly Fast Fall if we close 12:00noon < 5294
Dear ILango Sir!Thanx from bottom of my heart for guiding in detail with larger TF count. Now i can see that 4770 is a wave C and can end in ending diagonal. So now if rising wedge trendline breaks it may even form a triangle in wave B if limited retrace is done as u mentioned? Is this a valid probability that this B can form triangle also?Dear Pam!Saadar Pranaam Bandhuwar:)
Ilangothis totally wrong count The "B" wave has internals as:4531 to 5630: a5630 to 4770: b4770 to ????: cmin c is A=Cit will come 5869, it is not possible near and futureSecond one only possible, its is zig zag lot of people not known this one,big correction hide is zig zag
kumar ji, pranaam!Agle hafte free ho, to appointment le loon ? :-)
Illangothis count may possibleA= 5630-4770 clear show five wave moveB =4770 - ?(5380)C= ?- min 4520(A=C) or 1.618 x A mean below 4000(this my option i am also expected this price with 2 to 4 month) possible if peak 5380
New Post Done.