@ DR.SGM,There were two 5 waves fall from 5918 to 5855, a zigzag.Hence, it was stated:If held below "5887-94", it would make another low towards 5840.To identify 3rd wave, wave structure alone can guide us and not emas. It is too early to go for 3rd wave."b" wave is more in contention. Choppy!!!September 27, 2013 at 11:26 AM ---------------------------------------------------------------------2nd zigzag may be in progress till below 5870-75.
there is a positive divergence developing in 5min nifty future chart.....perhaps b done....stoch(S,3,35,3)
as per 2 min google charts, Seems one more low below 5846 pending which might not break 5830.From there, could be start of rally towards 5900 to start withRS
@ RS, TA wise also a trade coming up around 5840-45 (73% of entire rise),previous breakout point with sl 5832 80% of entire rise
@Sarvesh,If a 5846 breaks, aggressive longs can be taken with SL of 5810-15. 80% funda not sure asin.... if it is B wave can give a few ticks below that also. but should hold 5810-15
@ RS thats right...agree,,what if 3rd..right now it clearly looks like a B wave..all the choppiness, laziness and edginess, frustrating,passing time, sucking energy...making me learn how to sit tight
@ RS , my idea of trade in this scenario wud be to have asl around 5830 and then if it bounces from 5810 or wherea bouts to re enter longs once breaches 5832 on bounce..this is intra..i might make little more loss in brokerage..but dnt want to give 30 points in contra jnsar trade.
@Sarvesh,If its 3rd, then we r staring at 5640-60 min, but guess 20-30 point SL (for longs) in anticipation of 5900 bare min (optimistic towrds 6000 as well) shows up a good risk reward. :)) Baaki to JNSAR zindabad :))RS
Dear Ilango Sir & Blogmates,OI Table Update at 1:00PM, Pivot-5950, S1-5916, S2-5884, VWAP-59215900CE writers have taken the lead but still not aggressive enough, the index in a small range and VIX cooling off. Buy the Support, Sell the Resistance for the day…Thanks & Regards
1.00PM TT & Chart Updated.And Bye.
Dear sir,sorry for bothering u.i could not find the fall from 5917 to 5855.in google chart i can see 5872 as the bottom of yesterday's fall.even in TT yesterday's low is mentioned 5864.pls clarify my doubt.
@ RS , thats right jnsar ziondaabad,,in case of 3rd i wud wait for 5795 and go short maximum short quantity and add to jnsar trade with a 10 point loss from 5840-30..or wud add long intraday if bounces as i wrote in the above message..i think it shows various ways to manage a trade..may be in soem other situation i adopt ur way and u do mine.
@ RS, in 2 minutes chart and 5 minutes r u looking at 14 rsi and stoch or soemthign else also as 14 rsi is very close to negating any positive divergence since 58
@All seniors,pls clarify my doubt.thanks .
@ DR SGM, look out for 5 minute candle at 1440 hours yesterday and then look for today's candle..you will get it..please put little more effort, dude. i have learnt that way..all questions are not to be asked..some are to be looked forthanks
the high of that candle is 5917 and then subsequent 5 wave structure shows low of 5855..today
or look for 5855 on 25/09
Now 'c' start ,we are in (ii) of 'c'
@ sarvesh, just steppedin,,saw ur comment. I use RSI -14
5880-82 resisted four times now...strength above it, intraday!
New Post Done.