Monday, April 29, 2013

Nifty Intraday Update-I



17 comments:

gauresh59 said...

Namasthe ilango sir and friends,

Today's quote received :

A small Dot(.) can stop a big statement but few more dots. . . can give a continuity. Every Ending can be a new beginning. **THINK +VE.**

Anandha said...

If nifty does not breach 5880 level today we may see 5945-5975 in 2 days.

Manish said...

Goodmorning master and all friends,

As per master's observation Banknifty consolidating below DHema SBI trading below 5 dema 2285.
BN trading below Day pivot 12561.

J.R.Julius said...

5 Mins candle Close below H3@5884
may bring weakness. H4 can be
modified to 5904.

Sanjay Jaiswal said...

Dear Ilango Sir & Blogmates,

OI Table Update at 11:00AM, Pivot-5895, S1-5870, R1-5913, ATP-5900, VWAP-5900

Not much change in OI position with the PE writers ahead by a whisker, with positive bias….

Thanks & Regards

Sambhrama said...

Hi can any one clarify?

1st is 5477 a C wave?

2nd dose we have to wait of falling wedge or channel breakout on falling market to bing on reversal? or how to spot the reversal after 5th corrective wave?

3rd can you apply wave theory for any chart @ any time frame?

4th what are the ratios to look when an impulse wave after c is crossed over wave 5?

5th I observed market is peaking out every 8 years like 1992.. 2000.... 2008.... the next is 2016?

6th what wave is running now after the end of 2008 corrective wave 5 ?

7th what is the correlation between wave 3 & 5?


thanks

Sambhrama said...

hi JN mates....

on 26th is that a formation of bearish harami on day candle?

Amol Sharma said...

for now 5852-35, 5780 are levels in downside and in upside, 5907-25, 5945. The voice is upside is limited. My exception MIN 5835 in coming sessions is possible. 50 points not a bad deal with SL.

Anandha said...

nifty started moving towards 5840-5745

Sambhrama said...

HI ANANDHA...

plz explain little further

Stockathon said...

@ Master

21 HrSma @ 5871
DHEma @ 5870
5 DMA @ 5868
JNSAR is long

Considering this would it be prudent to go long near these levels Sir?

Ilango said...

1st is 5477 a C wave?

Ans:- We have marked it as "c of A/ c of 4"

2nd do we have to wait of falling wedge or channel breakout on falling market to bring on reversal? or how to spot the reversal after 5th corrective wave?

Ans:-Falling wedge has 5 sub-waves overlapping each other; once the 4th overlaps into the 1st and the 5 th starts, one could aggressively buy.

3rd can you apply wave theory for any chart @ any time frame?

Ans:- Wave theory works fairly well in "highly traded instruments". It requires mass participation.

4th what are the ratios to look when an impulse wave after c is crossed over wave 5?

Ans:- Question is not clear. Nevertheless, there are no fixed ratio relationships.

5th I observed market is peaking out every 8 years like 1992.. 2000.... 2008.... the next is 2016?

Ans:- There is no "long history" to confirm such a pattern; It could, at best, be used by "investors" and not at all useful to "traders".


6th what wave is running now after the end of 2008 corrective wave 5 ?

Ans:- Pref: Since the 2008 lows(marked as "A"), a corrective "B" wave completed @ 6339 and a corrective "C" wave is on.
Alt. view: 2008 lows mark the completion of "ABC" and the next impulsive wave is on of which the 1st wave ended at 6339, the 2nd wave is on.

7th what is the correlation between wave 3 & 5?

Ans:- If wave 3 is not extended, wave 5 is likely to extend.
If wave 3 reaches the channel top, wave 5 could be calculated by measuring from the channel break(4th) to channel top. There are no fixed ratios between wave 3 & 5 but just guidelines based on how 1,2,3,4 have unfolded.

Sambhrama said...

Thanks a ton master.......

Yash and Dhan said...

Wow!! that was a long answer as an extended wave.
A good revision of wave theory in one post.

STOCK4SURE said...

possibility of a bullish WW may develop in ns 5 min chrts

now if ns does not move abv 5892ns and dips below 5860 then it will form pt5

cmp 5883ns

trgts near 5940 tomorrow

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