Bullish: 6077 6067 ... is 50%-61.8% retrace of the last rise from …… 6033 to 6121 80% is - 6051 If strength to return again, it should be around 6077 6067 Weakness gets confirmed Below 6067 OR 6051
Namaste Ilango Sir & all members.
With so many HVT'S happening today in the first hour someone is really getting serious about a rally.
@ Master As price behave currently are we in (5) th wave Calculation as (3) extended so (5) =.618 of 1 or 1=5so as 1st is 246 points 6032 + (.618*256) = 6184 or6032 + 256 = 6288 Is that little knowledge is valid or need any other way to look it at . Kindly guide :)
there is a CNH /IHNS on the daily chart , if we scale 6145 then this pattern will be triggered ...currently put addition seen at 6100 and some short covering on 6200 call...early days - but the signature is emerging !
Master.....yesterday cloe below DHEMA and below 5 DEMA too....still BUY ON DIPS in TT..any reason????
"6131" is 80% of the fall from 6156 to 6033.At "6131", it would be DHEma+20.Hence, 6131 would be critical to the uptrend to continue/ Downtrend to resume.
@ shree,EWChannelWeek Trend.
Bullish:Now move to (4) to (5) minimum =(1) to 6280, also upper trend line.
watch ns if<6113, then i expect a fall
Master you always say consider new signal......so why you didn't consider new signal which was sell on rise as per your earlier guidance even when weekly is up .....
OI wise, power changing hands to Bulls now @ 6.1k strike
Sir ILango ji yday @ 2pm in Hr t/f there was a +ve divergence can that be taken into for this upmove, kindly update thnx
@ shree,Yes. It is true that a "sell on rise" signal is generated in Day T/F.You sell closer to DHEma+20=6130.You should be alert & cautious with a sell considering:a. Channel is intactb. Weekly trend remains UP
ok ..thanks master....I am out of trade yet....
Dear shree,As Ilango sir has said, you have to careful with sell on rise, reason being nifty is back into channel indicating this as a possible "vth" wave up.
Dear Ilango sir,Is it possible that this vth wave up (assuming it is vth wave up due to its characteristics) has a good possibility of this being the extended wave, since i and iii are almost equal in size, Of course this is all being subject to prices confirming it but prima facie what is your view / belief in this matter?
How about Nifty century Today ?
Dear Ilango Sir & Blogmates,OI Table Update at 11:00AM, Pivot-6090, R1-6120, R2-6170, VWAP-6130The PE writers are back and have added huge at 6100 level, whereas 6200CE writers are covering, BUY THE DIPS based on OI table with reversal below 6097 NF…Thanks & Regards
@ Aly,I wouldn't think on those lines.I must follow all the studies and take a collective view which has a high probability of succeeding.Its been my experience that whenever I place more importance on "one study", I get subjected to the "whipsaw/ failure" of that study. Had I included other studies, I would have changed course.EW forms the basic study; other studies add weightage to choosing from among "alternatives".
Dear Sir. R v looking at a potential HNS formation here. Head @ 6156. Shoulders @ 6122. Difference @ 34 points. Low @ 6033 less 34 = 5999. Which alsop virtually co incides with 10 DMA @ 6002 ???. Please throw some light. Many thanks sir
Master 6135 also crossed what next pls guide
Good morning Master and Friends!
IF nifty closes near 6100 by eod then it would form a doji in weekly charts. That would indicate one to be cautious with longs.
Ilango said"EW forms the basic study; other studies add weightage to choosing from among "alternatives". Focus on the main dish but use the papadam achar dahi chatni raita onion lemon green chilly and other assorted side condiments to add to the taste and of course dont forget the final dessert...:):)I am liking it......Its perfect...:):)
Dear Ilango sir,I think you as a trader have achieved that nirvana which others like us are striving for. No expectations, no beliefs about the markets just follow the markets.Hats off to you sir
@ Ilango Sir, 5 waves completed sir at 6153 on 5 min chart?
Good Morning Master And Friends .... looks like 5 wave completed form 6033 ??
Sir, can running (5) wave can subdivide? How to know whether running (5) can be extended one or will subdivide- any guideline in ew on this?Also any guideline given to understand where (5) can end? Like 38.2/61.8/100% of (0)-(3) and add to end of (4) to get probable (5)?
Its look like from 6033 to 6153 completed 5.3. & 5.5 is still pending.
@ NEVER GIVE UP,5 waves seem to be over. But the Hour TA does not support it presently.
@ Ilango Sir, Very right sir.Thanks.
sir, can u pls elaborate "hour ta doesnt support presently" from 6156 down of 15/10 i exited myintra shorts very early on seeing 5 waves and it kept expending
Dear sir,considering the downmove from 6229 to 5117 as 3wave correction,this upmove from 5117 should make a top between 6229 and 6337.is my view valid one?
@ DR.SGM,In one of the "EW alternatives", the upmove from 5119 is considered as the 1st wave. And it has the potential to move higher.4531-5630-15630-4770-24770-6229-(1)6229-5119-(2)5119-xxxx -(i)
Ilango Sir - Is there a bearish engulfing on Bank Nifty on daily charts? Your views on Bank Nifty too pls.
thank you sir.
New Post Done.
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