I think Kamadhenu is kicking, till now it's hard to milk the cow...Shriram,How to catch the C?
Sir Triangle completingBo or bd Ready
ilango sir is it time correction for last rise from 5786? Took support from 23.6% 5872
@ crore:5924-34 NS zone to be seen for OTM CE addition.. if obsv along with oscill OB on hr TA, then may be we can try tp "C" ? ;-)
@Shriram कामधेनूचे दुध 5924-34 झोनमध्ये घ्यायचे काय?
Hi Ilango Sir- As Per the Hourly Chart , its seems Nifty can go to test 5895 -5924 .Keeping SL @ 5878.Buying is good bet at this point .Please Correct me if i am wrong.
Canfusennn....ShriramI was thinking C to go up?Trying to learn to follow waves given by master.
toaday it is better to save fund than give it fii . as master says let market move and we follow or curse somebody by taking their advice as somebody will be RIGHT BUT WHO ????
@ Sam: sagale puraave sadhya gola karuyaat , ghaai kashala ? :-)@ crore: sorry i was referring B.c , for ur C , if bulls close > 5934 EOW , nothing can be a better signal :-)
"a" done from 5900 to 5872 in the opening session."b" done from 5872 to 5895, keeping itself below the 80%."c" almost done, expected around 5866, 50%.
Intraday weak below "5870 or 5866".
1.00PM TT & Chart Updated.
Noob - Learning EW can any one tell me what wave is this! Mastercan u post EW chart with labels and wave marking if possible at EOD
@ poonam mishra,Look at the 2 min intraday chart from the following linkNifty Intraday Live-2min.chartYou'll find the wave forms as stated above."b" wave is the complicated one.
"c" done @ 5866.Correction of "abc" completion "confirmation" when prices move above 61.8% to 80% of last fall from 5895 to 5866 @ 5884-89.
master why weakness only below 5866 pl reply
@Sandeep Ji,That the 50% level of the last rise till 5904Thanks,Renju.S
@ ilango sirmy 2 questions1. you said about correction zigzag or flatmy question is when we say about which correction will occur irregular or triangle?2.below 5866 we are in B.c?please comment.....with thanks
"5866" is not broken decisively.
@Ilango,so this is "abc" of 'b' of B complete. correct? so a c of B is now expected? and then bigger C down. correct?
Too much of waves...due to the recent rains and floods.Thanks,Renju.S
@ Marketrider ,To me, the fall @ open from 5900 to 5872 looked like having 5-sub waves and only zigzag has it.Hence, the ceiling of 5895 was fixed and market resisted exactly @ 5895.(It could be argued that it was 3 sub-waves but I go by the first look; never strain for wave forms)The possibility of Red "B" will increase with a break below 5863.Despite our best intentions, the minute waves of 2-min or 5-min T/f could fool us; hence, have very small SL to trade based on these.
thks renju ji
In 2 and 5 min Bollinger Band chart....nifty price action is being resisted continuously at the mid pointThanks,Renju.S
@ CDG,You did not follow it well.For intraday purposes, I take the last rise or fall; it has very small relevance to the "Hour chart" posted above. Because, this intraday swings form a small part of the larger structure.The "abc" discussed was for the last rise that started after 3.00PM yesterday from 5832 and ended at today's open @ 5900.
Basic nature of the market is a Bear market and the rallies are only corrective.For these rally to show strenght and gather momentum we need shorts in the system. The movement of last few days are typical of shorts getting trapped and than rally i.e. yesterday ziration of 80points - and than + with covering.I am keeping this in mind before taking positions.Any falls which are flow in nature are extremely bad cause that means multiple gamy with bears selling and bulls also liquidating.
SJKolkata Ji,I to echo your views - a bear market rally.Thanks,Renju.S
As per Ramki's calculation nifty comes near 4300,Sala dollar high,inflation high ,to bhi market up.jay ho India
37 points range not looking enough.
@Ilango Ji,How do you consider if a support / Resistance is taken out decisively?Is it based on a candle close in a given time frame or any other mechanism.Thanks,Renju.S
@ Renju S,There is no definite answer to it. If there is, it may not help the trading much.Based on our bias, we give a bit more leeway to the prices like a filter.Each has a diff way of looking at it, say "a close below 5 min candle", "an hour close", etc. Markets are different everyday. But traders want to have everything bracketed into a pattern/ rules and so on.Some work; some don't.You manage with a suitable SL.In the end, some subjectivity can not be ruled out dealing with such situations.
--> backMaster, how bout this oneA : 5566-5904B: 5904-5761C: in play as an ED UP ??C.b * almost done as 5900-5863 , or a tad lower @ 61.8% of 5761-5900 ??
New Post Done.