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Ilango ji,small EW queryU had hinted ysday that Py Degree ZZ may be ON asA: 2252-6339B: 6339-4531C: 4531-5815** in play to take out prev All time highsAlso, on Friday , u had obsv 5waves done as 5216-5815 = 599 pts This is similar in length to C.1 : 4770-5349 =579 ptsPutting 2 n 2 together, Would it be apt to conclude now, that ur pref view is we are in for an Extnd 5th (provided 5530 zone holds) sir ??
@ shriram,A flat has the potential to move past 80% mark and in an "irregular flat", it moves past the previous highs too.These are not my view but what the prices are suggesting as "Potential or possibilities".As more & more prices unfold in the coming days, week & months, our perception of the market changes.The above is one of the many possibilities as per certain studies."Figuring out a corrective phase" is a challenging one and one needs to be flexible enough to make room for changes.Most importantly, it should help us in making winning trades.This is the major reason why one should use EW to confirm the current unfolding of prices. This way one would be following the prices and reduce "predictive behaviour". Though we do calculate the likely targets, it should not distract us from the current price structure which keep changing.Hence, Elliott emphasised on the "Forms" more.
Tks a lot ilango ji, its wonderful wot u wrote, reading again & again :-)
If the 5-wave from 5666 to 5729 is "a"and the current prices behave like a "flat" abc in a sideways range of "5729 to 5702" would be "b",then holding above 5698, day's pivot, the "c" could unfold.Hence, we keenly watch 5698-5702 to hold ideally.Bearishness for the day could be only below 5698 & then 5679(80%).Accordingly, 5729 becomes crucial for more upsides for the day..
"5715" Day's JNSAR would be decisive now.
FLAT in play , holding 57K ?time for culinary pursuit, cu all @ 14:00hrs :-)
Dear Ilango Sir & Blogmates,OI Table Update at 1:00 AM, VAH:5746, POC-5716, VAL-5695, WPOC:5761, Pivot:5723, R1:5753, VWAP:5743Bulls are slowly coming back into the game after the thrashing they received in the last 2 days with highest addition for th day at 5700PE, 5800CE not able to keep pace right now but still has the highest OI in the Table…Thanks & Regards
5698 broken now what??? 5679??
I was a silent observer till dateMe observing myself foundmost difficult but most vital part for success in trading is when Jnsar/ trend is at turning point. Heart= Technicals = Jnsar says yes and trust me.Mind = ego= fear/greed says no this time round it is different so i keep reading that immortal comment of the all time great stock operator which is on the right hand side on ur blog. Mr jesse Livermore as many times as possible.Thanks for ur help.
Ilango sir ..so can we now take 5715 as JNSAR for today??thx
root ? Are you Unix/Linux system admin ? just curious...
@ Master you have suggested to book profit 20 points below DLEma. in premarket views..is it still active or we need to wait till EOD??
Brother Kiran i am a seeker of truth - The rootcurious to know - why ask about the system / admin
@ Masteralso have same query as requested by @ Sudharsan.Thanku
dear saurav kundu thanks for your input on the blog
@root ,root login is a Administrator of Unix/Linux based systems. If you have root's password on unix system. you can perform all tasks on it.
5679 also gone????
@sudharsan,Yes. It is because week TA remains UP.Remember to calculate/ update the developing LEma. Presently @ 5687.
Seems Call writers not wish to loose the advantage taken by them past 2 days. coming back furiously.need to wait till EOD to see who is holding on?
@Ilango,Gave Donations to markets twice since yesterday of 20 points/each........for the 350+points last JNSAR tradeHope this was the last donation paid as of this week :Dregards
@ @sudharsan,By doing so, one would be trading the "sideways market".Only a reversal in week/ month would bring in "sustainable falls".
Thank you Master
me too. 2 whips today one on circuit day
OMG,nifty break @5679,
overall the GAP created in the morning now Filled!!!!!!!!!!
Making of head and shoulder pattern in Bank nifty futures chart, neckline around yesterday's low
@ AJIn which time frame BN charts??
Fast Fall as per 21/34 SMA.
A J BNF has made a support from 24th sepif breaks thud sound
@Prithvi Yashashvi Well you can look at last ten day's intraday data and see the pattern developing and testing neckline support :)
@DR jihaan ji, lets see what happens with shorts currently.
Big Brothers buying on dips or selling on rise???
Ilango said...@ Vishnu,The actual JNSAR will be available in the "Tech.Table(TT)" all the time.The chart shows the JNSAR with the filter whenever the filter needs to be applied.October 9, 2012 9:36 AMIlango said...Following is the retrace for 5666 to 5729 rise.38.0%-5,70550.0%-5,69861.8%-5,690andthe 80% comes @ 5679 below which only more downsides.Above 5739(80% of 5757 to 5666), more upsides. October 9, 2012 9:43 AMIlango said...If the 5-wave from 5666 to 5729 is "a"and the current prices behave like a "flat" abc in a sideways range of "5729 to 5702" would be "b",then holding above 5698, day's pivot, the "c" could unfold.Hence, we keenly watch 5698-5702 to hold ideally.Bearishness for the day could be only below 5698 & then 5679(80%).Accordingly, 5729 becomes crucial for more upsides for the day..October 9, 2012 12:42 PMIlango said..."5715" Day's JNSAR would be decisive now.October 9, 2012 12:57 PMWhat a Objective ,Clear & Crispy view that was!5734 ( Filter ) not Crossed . Retracements mentioned 38.0%-5,70550.0%-5,698 ,61.8%-5,690,and 80% comes @ 5679 All done.The way you explain such a volatile & Critical situation is really amazing. Superb !Hats off to You Sir.... !
New Post Done.
--> backViewing again from 5815 , possible DZZ in play , wid X unfolding as FLAT ??X.a 5667 5728 -61 X.b 5728 5678 50 -82.0% ** DONE ?If yes, thenX.c 5678 5739 -61 100.0%