WPI Inflation - 4.86%
hi all, just need some time of candle stick pattern traders here like @prabhnshu ,in IDFC on 11th a inverted hammer is formed , following a confirmation on next day 12th , does this now imply a bullish point ,and if yes what can be the potental targerts.
Hi Ting tang, I am novice. Just read on pattern trading. Won't be able to comment anything. Apologies
@master,Hanging man possibility failed,so we r in 2(C),so it is batter to sell at 6099 for 3rd
MasterHanging man possibility has failed. and also new high is in making.C wave is following 12345 pattern. What is the possible limit for iv wave
Sir, since the possibility of hanging man is negated, so we can say 12th gap up was runaway gap. What i read was runaway gap happens at half way through of any trend. If this is true then what could be the possible target due to this runaway gap and from where we should see it.?
Done with 1st target 6023 levels on 1st lot.2nd lot stop is pushed to 6010.
@prabhanshu also pls look the volumes as it may be a blowoff day , but since the open is lower than hanging man's real body , so any rally from here till any level , should be sold into as the rsi of most biggies of nifty stock like reliance is entering an overbought zone , this is just my personal opinion by reading the charts ,may be wrong , but looks like more yes that no this time. Lets see for this 3 4 days.
Pushed 2nd lot stop to target 1- 6023
@ Ilango Sir - Due to the failure of the Hanging Man pattern, can we say that the same was a runaway gap and the target now would be the earlier target, somewhere around 6050?
Dear Ilango Sir & Blogmates,OI Table Update at 1:00PM, Pivot-5993, R1-6035, S1-5965, ATP-6005, VWAP-6005Consolidation day in the making with Nifty in a narrow range of 50 points till now, breakout above 6021 NF and breakdown below 5990….Thanks & Regards
Hanging man gets negated.However, to qualify for a runaway gap, the gap size is very thin.Lets just say, we look for strength continuing above "5970, the earlier strong resistance" towards 73.6%-80%-6054-96.(also MHEma+50)
sir - is it a bullish hammer or hanging man?? what's the pattern's nature will move up really or deceptive trap for bulls?? 10th july bearish engulfing in future closed at 5822 but next day opened with a big gap up..am not following these.but observation..will mingle with my nos. this is for my "side dish" .. and learning purpose. time permitstks n advance.
thank u sir - crossed the timing
@ Sujatha,Candle patterns should be viewed as "2 to 3 days formations for better results such as Morning starEvening starBullish engulfingBearish engulfingFollow up price candle either vaildates the pattern or invalidates it.Presently, no hanging man as prices have moved above "Hanging man's high".Right now, prices are pausing @ MHEma-6036.
2nd lot TSL triggered and profit is 30 Points from 2 lots.
Master do you see ending diagonal forming
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@ suresh,If you have a mind that is in motion, you will not be able to execute your plan smoothly.A housewife/ cook while in the kitchen is "supremely confident" as their mind is made up and well set, many actions are automatic.A teenage boy/ a girl, while approaching the opposite sex to express his/ her love has many thoughts criss crossing the mind, the exchange is inconclusive except if the person is firm in his resolve & thoughts.You have to develop such a state of mind, starting with small acts, small exchanges, small communications, small events, small projects. Always being conscious, supremely confident of what we are doing.Develop this mindset. Throw away all limiting & doubting thoughts.You have just this day for sure...You have just this life for sure....Live this for yourself, for whatever that brings you joy.Once you bring that joy into your actions out of supreme confidence, "fear" will go to the rear.
MasterI have no position as of now. Thinking of going long at current levels as hanging man is negated. Have two trade setups in mind. But have following doubts. 1) If C wave is about to end and target for iv wave is 40-50 points. Then better to wait for C to complete and go short.2) If C wave target is 6150 to 6200 going long will be good. Sir I am learning the basics of Elliot. Pls help to find the C wave target
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@Iris, 'C' wave tgt 6057 to 6134 not more.
Greetings JRJNice to enter you Wonder World of Books.------------------------------------------ A Risky Short below 6022 could be attempted for the target of 6008.Observation only. lets see
New Post Done.