Tuesday, April 23, 2013

Nifty Intraday Update-III



30 comments:

SJkolkata said...

Pl exercise your own discretion but at this fall seems to be a trap with positive price action in calls and negative price action in puts.
Lows to be maintained for this view to be correct.

The_Unprejudiced_Observer said...

How do u view this "not falling" nature, Ilango ji?

shriram said...

Ilango ji,

Another EW lable option can be 3.4th as an Expanded Flat..

a: 5833 5795 38
b: 5795 5845 -50 -131.6%
c: 5845 5746 99 261.8% MAX

MIN: 5784 (1.618xA)

For now, seems to gell well with present Dev.Dhi / St.MnEMA supports and OTM OI ??

suresh said...

ns if> 5811 mild strength and > 5820 more strength

Ilango said...

@ The_Unprejudiced_Observer,

"not falling" nature happens when there is a "Time correction" for the averages to do the catching up.

suresh said...

i meant, >5820 bulls have a upper hand

The_Unprejudiced_Observer said...

@ Shriram,
Are you labeling rise from 5477 / 5500 for considering current move as 3.4 ( as mentioned above by you) ?

SJkolkata said...

Dear all,
As pointed Nifty starts moving up with unique short trap at lows.

shriram said...

@ T_U_O

3. 5500-5845** in play is the count proposed

within 3, 3.iv as Expanded Flat, seeking 5784-5746, and then a smart move up..

Explore thus

Pattern Trading said...

Look like sunpharma is going to hit upper channel line again today ... Daily weekly and monthly charts are overbought ...

vksoni said...

tomorrow market close?

shriram said...

@ T_U_O

Nifty is set to make a Mickey out my proposal, if it ticks > 5825 :-)

In that case, can relook as 3.iv done as 5843-5792..

Pattern Trading said...

8 24-Apr-2013 Wednesday Mahavir Jayanti

Holiday ....

SJkolkata said...

Moving towards Highs for the day....
Cheers

Ilango said...

3.00PM TT & Chart Updated.

Nitin Kadam said...

@ Shriram Bhau,

3rd wave chya subwaves suru aahet ki 5th chya ?

Plz explain if time permits.

Thank You!

Ashwin said...

@shriram

is it 3.v now?

divya thakor said...

sir
will wave 4 get confirmed as it break the channel trend line and come back ?

shriram said...

Ashwin / Nitin,

yes 3rd continues is the feeling. Lets wait for master's count now...

OI PCR has changed drastically @ 58 strike & now 59 is in sights !

Atharva said...

Master : 4th finished @ 5791 and 5th is on..Thanking you

Atharva said...

ydays high is yet to break so technically it is IB on NS

Atharva said...

master : any chances to make 5872-80 ..thanking you.. that is the last gap to be filled

Nilesh Patil said...

Bearish Engulfing convert into Doji

Ilango said...

Till prices are stuck in "5790-5845", correction continues.

Prasad said...

Sir/Shriram/Senoirs.
3rd completed at 5845.
Simple flat ABC
A completed at 5792
B completed at 5844(?)
C could go upto 5764(23% of 3rd) on expiry day.
Still learning.Pl comment.
Regards

anmpatel said...

@np ji

Dragon fly doji?

SJkolkata said...

Dear All,
As it was observed previously that 5800Ce is having buying interest from strong hands, we saw huge unwinding post 2pm. This should imply largely profit booking.
Also in the last 30mins the reverse was observed what was observed at lows.
So now the highs should not be taken out to confirm that the longs from strong hands are getting out of system.
Just sharing screen based observations, should be backed by other studies for confirmation.
Regards,

Anandha said...

@anmpatel
Good observation. Nifty seems formed a Dragon Doji but not promising one.Generally having this candle in down trending market shows strong buy zone.Secondly, the Body of the candle is not above the previous candle.So it is suspecious behavior till the confirmation on next day.Lets wat and see whats in store for us.

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