Sir Ur green labels suggests wave 5. A wave with undue exuberence. By ewHowever it has broken 80 % of the fall. By ewas these are 2 contradicting views will it mean that these views would reconcile with a time based corrective move. Is this foreboding a new high?
Namaste Ilango Sir & Blogmates, BULLISH: Nifty crossed 6000 for the day, but OI Table seems to be lagging, tomorrow could be the decider for the series, and stay cautions at higher level...: Option Analysis for 02-05-2013Dedicated Option Open Interest BlogDuplicated at Wordpress SiteThanks & Regards,Sanjay Kr Jaiswal
Dear MasterWhat Happened No One Commented yet. I Hope All Is Well.Thanks & Regards
ilango sir resistance point is 5971 instead of 597
Dear Master,Thanks for your teaching. I try to study your posts when I reach home from day's work.I am too new to EW and just started studying it academically, please advise.Can it be a possibility that, Wave 1 was 4531 -5630, Wave 2: 5630 -4770, Wave 3: 4770 to 6112, wave 4 :6112-5477 and presently we are in Wave 5?If that is right, considering Wave 5 can be similar to wave 1 and wave 3 was extended one, are we heading for 5477+(5630-4531)=6577 (just a probability)
Life is a gamble – but *you* have the house advantage. So make lots of bets. (Just not any that could wipe you out.)
When market moved from 5548 on 20th Nov 2012 to 6112 on 29th Jan 2013 it has consumed 47 trading days and 188 minutes. The fall from 6112 to below 5548 on 5th Apr. 213 it took 46 trading days and 79 minutes. This implies larger correction of the market is in place. This logically rules out the possibility of market crossing 6112 since 100% retracement of entire fall in lesser time may not happen on account of larger market correction analyzed based on the above details of time consumption of 5548 – 6112 – below 5548 . Hence 6112 NS will be STLP for any short position created post RBI policy.
Sir,In your view, AS PER WAVE THEORY, is market expected to go up or down post RBI policy ? RegardsSN