Bullish: 6218 6208 ... is 38%-50% retrace of the last rise from …… 6163 to 6252 80% is - 6181 If strength to return again, it should be around 6218 6208 Weakness gets confirmed Below 6208 OR 6181
Good morning Ilango Sir and all the Blog mates!
Dear All,Observations on developing week :RSI (9) & RSI (14) negative divergence in place. Comparing May 17th Weekly close at 6187 and if this week closes above 6187.Developing week candle pattern is a Hanging man.Raghavendra
Master Can we attempt Aggressive sell around 6270 ?????
good morning Ilango sir
Looks like a flat correction in progress ... .
Namaskaaram GuruJi and Brother & Sisters,Good Morning. Have a Good Day. Vaalga Nalamudan and Valamudan
friends....need a help !am using datafeeder for my amibroker. mysteriously, for the last few days it stopped working. When i click backfill button in datafeeder, iget the following msg -" DATAFEEDER HAS STOPPED WORKING " " WINDOWS WILL CLOSE THE PROGRAM "I tried all possible methods and even tried to reach the developers but no response. Any body canhelp me pls. I guess some dll file is missing or corrupted.regards
Sir. For my understanding:(5) is ongoing and will subdivide again in 5 sub waves 'i','ii','iii','iv','v'. Currently 'i' is going on, which will again subdivide in 5 sub waves (3rd of i is running). 3rd of i can be 1.618% of 1st of i. Then 4th of i will stay and then 5th of i. 5th of i can be equal to 1st of i ie 66 points from end of 4th of i? If this is correct then at which retracement value 4th of i can end? Or we need to draw trendline joining 1st of i and 3rd of i and a respective parallel line from 2nd of i. 4th of i should break this parallel line and reverse??Is this understanding correct??
raghvander I have bin saying da same thing . i totally agree wit u
Dear Ilango Sir & Blogmates,OI Table Update at 11:00AM, Pivot-6182, R1-6238, R2-6286, VWAP-6243What a comeback by the BULLS, added huge OI at 6200PE and now the level is sealed for the day, BUY all DIPS till 6230…Thanks & Regards
My understanding between the blank linle is aggressive buy put 6200 I-D only when Nify spot is around 6270 SLO= 15 points,to be traded else leave as of just now.Else wait for weakness to confirm on Fibo.
Hi FreQ Bull forming intra..Holding 6225NS, can tgt 6275 / 6300
Dear Prabhanshu,though the question is for Sir, I am pitching as I am also learning EW. My understanding is slightly different here:(5) is ongoing and will subdivide again in 5 sub waves 'i','ii','iii','iv','v'. At this moment Sir has not discussed further sub-divisions of these waves. We are currently in wave iii or iv.
Ilango Ji and others,from a socionomic and discussion perspective- do you think that Nifty making new all time highs may lead to news media linking that to a higher probability of finding the 1000 ton gold at Unnao fort? Its worth $60 trillion as per estimates.I mean if Gold is found there and market makes new highs, people can well co-relate that. Just a stupid thought for discussion purpose.
To me, it looks like we may see a medium term top either today or tomorrow. I am thinking more on the lines of today. However will wait for a confirmation from Illango sir's levels and developing technicals. Have tightened my stop losses for JNSAR longs
SIRPlease see.Again our blog getting littered with self promotion messages in the guise of comments.Sanctity is lost.Ravi
Dear Ilango Sir,'iv'th done for the rise from 6116?
@ AADunno about Unnao per se.But there is a lot of hidden treasure underneath Indian soil which was hidden from the invading barbarians from the Arabian Gulf.If all that is found history of the global economy will be rewritten.
can anyone see a developing bull flag with b.o. above 6238 approx.
@ Sonu, me too learning :-) so could be wrong. My understanding is:Daily TF – 1 at 6229, 2 at 5701, 3 is running in sub waves as i, ii, iii, iv & vHour TF:- (5) is running from 6117 which is nothing but (5)th of i in daily tf. Once (5) is over in Hr TF, i will complete in daily TF.- (5) will subdivide in HR TF as (i), (ii), (iii), (iv) and (v). Once (v) completes in HR TF, (5) will complete in HR TF and i in Daily TF. Currently (i) of (5) is running in HR TF which will sub divide in lower TF (i.e. 2/5 min) (naming them as 1.i, 2.i, 3.i, 4.i and 5.i2Min/5Min TF:- 1.i started from 6117 and ended at 6183 (66 points)- 2.i ended at 6163 (20 points)- 3.i started from 6163 – xxxx (xxxx = 6163+(1.618*66) . If greater then 6269, then 3.i is going to be extended.- 4.i: will start from end of 3.i but I am not sure where it will end. My understanding is at 38.2%/50% of wave 3 OR parallel line from wave 2 to trendline joining wave 1 and 3. Wave 4 will break the parallel line and then reverse.- 5.i can be equal to wave 1. On completing 5.i in 2/5 mins tf, (i) will complete in HR TF and then wave (ii) correction will start in abc pattern (5-3-5/3-3-5 pattern in 2/5 min tf)- And thereafter subwaves of (iii), (iv) and (v).Another basis for above understanding is (5) can be equal to (1) i.e. (4) + 250(5959-5701) = 6163+250 = 6413 which can be achieved if (5) sub divided in (i), (ii), (iii), (iv) & (v) in HR TF and then sub divide in 2/5mins TF.Note: I may go terribly wrong as still learning
Dear allyWhen tf is showing bull flag
Dear ILango sir,Is it possible that one set of 5 waves move up is done in the following manner:(i) - 6116 - 6151(ii) - 6151 - 6137(iii) - 6137 - 6183(iv) - 6183 - 6162(v) - 6162 - 6152 (ext)
Dear allyI mean to sayWhich tf
read it as 6252 instead of 6152
@dharmu - in 5 mins. 6252 - 6245 - 6238 are the tops for the channel
@Sri,Same thing happening with me too....seems some issue with the software
Intraday weakness below "6225".
New Post Done.
FORM WISE6116-6252 Seems 1 5wave done...
@ Prabhanshu,Thanks for your explaination.Before I explain my understanding, let me first share my nomenclature. 1) Wave 1 sub-divides in 5 sub-waves namely (1), (2),(3),(4),(5) --> same for wave 3 and wave 52) Wave (1) sub-divides in 5 sub-waves namely (i), (ii), (iii), (iv), (v) --> same for wave (3) and wave (5)Rest is evident from the chart above:End of Wave 1 @ 6143 Wave 2 @ 5701 Wave 3.(3) @ 6220 Wave 3.(4) @ 6116 Wave 3.(5).(i) @ 6183 Wave 3.(5).(ii) @ 6163Either of Wave 3.(5).(iii) or 3.5.(iv) currently running.