This is what is called: Part Book.........Re-enter..........while following your chosen study.Keep working...
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34EMA,30m trade has given 70 NS pts stgt intra-day for bulls :-)
@ Amol SharmaYes Me too from Pune :)
head & shoulders fail is view of many. it was probably discovered by schabacker in 1920-30 and illustrated clearly in edwards and maggee.ppl ususlly dont read in detail before claiming it failed. magee clearly states that prices whipsaw many times on shoulder line and he recommended a 3% break of neck line to confirm break of h&s. a neckline or any pattern line can whipsaw. by struggle that point. its not failure of pattern for shorting he recommends retrace to neckline,retrace to trendline connecting head and right shoulder, 40 % retrace of the fall. if one cant wait or follow rules because nature of futures trading (sl is small) then one may not use the tool for trading. a different tool is required .its not the tool has turned faulty.
@ illango Sir!!!I just marvel at your confidence in your studies.That is faith for the uninitiatedthank you:-)
Ilango ji,prefer to disjoint the fibbo in these moves & lable this as DZZ from 4770 , Y UP started from 5033 in play now or carry on with ABC ? How to decide ??
Nifty forming Hammer Pattern on daily charts. Sir, what does it imply?
Todays Candle guess???
@ shriram,When diff. T/F has conflicting TA signals, its better to allow the market to show its hand and until then, go with the most obvious looking one....An abc move from 4770 to 5349 done;Another abc move from 5349 to 5033 done;Current move seems to differ from the 4770 to 5349 move.Current moves has sub-dividing waves. So let it run till shows any -ve div.
@Piyush Shardai would like add:H&S (inverted and obverted) should be read in right context. H&S is a reversal signal. so should not be a standalone case. means: in the down trend or up trend if H&S occures, it heralds a reversal.correct me if i am wrong
Yes Ashish,Thats y i asked the Q dear :-)The "A" looks a 3wave.. so options for "B" are B>80%A<104% (REGULAR FLAT) & B>104% * A < 138.2% x A (EXPANDED)Since our "B" has done an odd figure 54% x A & "A" was a 3 wave, it NEITHER SATISFIES A FLAT OR A ZZ !!This move up from 5033 is hence most likely a YWe are ina simple Y.a UP to 5270 prolly... in 5 sub-waves :-)
Still there is no sign of any respectable NF short covering
doji in Bank nifty monthly candle
Prabakar - where r u?? for 2morow's "avani avittam" today mkt gave some idlis. next "saturn tongue transfer" go to "FOMC" 2mrrow??Shriramji - agree with ur no - 3pnts. then fall should come or else "prithvi rocket" mostly "tongue transfer" may happen i feel
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@ Sanket Mody,It is seen here as a continuation pattern.
@Master,On Hour TF is 5 waves complete of the upmove start from 5033
@ Nilesh Patil ,These don't look like a simple 5 waves but the 3rd wave may be sub-dividing.Let TA guide you further on this.
@parimal,h&s are reversal patterns but also continuation patterns too. but edwards and magee states 3% break below neckline to confirm. it may be too much for for a nifty trader. the false breakoutsat any pattern line is not new phenomena it was mentioned by author.. so there should be atleast clear breach of trendline to confirm reversal. at times it may be very late by then and we can short on subsequent rally only.
From 5154 to 5225.40, a 5-waves may have been done.
@ ilango ji: Aye sir, just wished to ask u coz the structures did not match up :-)@ Ashish: if it goes to 54K, i will send u pedhas :-)@ Suja amma : What is Mayan saying now ?
R1-5228(WHEma) still pending..Sub-waves...be flexible.
@Dear Piyush Sharda'so there should be atleast clear breach of trendline to confirm reversal'-- as you have rightly said, this is where the significant point lies. thanks for education
hhaha.. Dear Ashish,I m refering ur figure only, yes 54K wud be too much to digest for ppl who enetered today @ 34EMA,30m, thats y i said pedhas :-)Multiple 30min Res zones @ 5225-5255 need to b taken out for that to happen!
@Shrirambhau,54k sathi tumhala Kumar sarana manage karave lagel. karan te sell karat aahet.
sir ji,can u pl provide a link where i can study wave-c patterns
bulls and bears plz come together and fight against corruption firmly,otherwise these politicians will succeed and make us ass.since independence its first time we have opportunityto assert against these corrupt politicians and come out winner.hamhe kab tak ye chand politicians bewkoof bannate rahenge.VANDE MATERM
shriram ji - far away from "my mayan" BN 334 taken out is "fun time" for bears just a matter of time. bless me :)ashish - u forget "5400" temporarily & me already forgot "timebeing-ly" dream after some time pls i can't run with the bulls continous festive mood till 5th.PS : I will change my coat once my "No" taken out on closing basis.Bye
@ EW folkPls check this --> Quick ruff work on Alt EW labes:y.a 5033 5225 192 DONE y.b 5225 5152 -73 -38%y.c 5152 5344 192 100.0%@ AShish --> for TIME, there is just one book, Search for JM HURST , DOMINANT TIME CYCLES :-)@ Nilesh : kumar sir is a Hi Vol player in IPL league..we r playing gully cricket , nowhere close :-)
Sujatha,just returned back after giving send off to Shri 7 1/2ji to US, watching the idli's with OI... & the close
MASTER is Great for 3 points also says Pending ,, Its Like W. D. GANN with us :) :)
BN not in mood of supporting
DR sir,Shyad aapne rocket ko thik se aag nahi lagai. :)
Nifty +30BankNifty -30:(
open and low is same for this hour at 5217.
@IlangoR1 done so next would be R2?
Nilesh Patil said...DR sir,Shyad aapne rocket ko thik se aag nahi lagai. :):D :D
Pre Market View5145/55-5180-5230/50
@ DR Sir,Good one !
@ Dinesh Rishi said,Lunch...@ 3.08PM...???:D :D
@ CDG,After 5228, Wk's R2:5231 also done...MHEma is the one left before which 5258 & 5280 to be cleared. It will clear as long as TT remains green.
Tatasteel Has given a breakout today. Yesterday JNSAR was triggered at 403 levels
Now EAST also down another power tripping NORTH AND EAST grids are down.
200 Hr MA of Bank Nifty at 10390 levels is acting as a stiff resistance :(
satheesh4 me on BNF chart its acting as support :(
Kumar SirBTST hai kya?
Turning up the WHEma from 5232 to 5233++ now.
ilango ji,Are u hinting @ this move 5033-5232* in play as BIG C.1 sir ???
D R Ji!Sab Rillu baba ka khel hai aaj, i am on STBT side...will add more near 5245-60 if it comes:)
While the power supplies are being disrupted, Powergrid has given a pretty decent bump up! :)Remember what GrandMaster Oogway the tortoise had said in the movie Kungfu Panda to Master Shifu when Po was wrongly crowned as the Dragon Warrior -There are no accidents! :)Have a great weekend!
@ shriram,I'm hinting at the strength.
Thanks Kumar Sir,but I could not clap :(
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Thks ilango ji :-)
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