Wednesday, October 9, 2013

Nifty Intraday Update-III


40 comments:

shriram said...

--> back

Cup n Double Handle B.o if EOD close > 5990 ... 6050-80 on cards?

MnHIEMA is next RES ahead @ 6014 NS

shriram said...

Master,

Rise from days low @ 5877 , is not ringing the oscill on Hr TA.. looks like a Bigger T/f impulse ?
Where would one be convinced from an EW angle ?

anmpatel said...

@shriramji
intraday me to 5990 laona..please. ..

anmpatel said...
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anmpatel said...
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Ilango said...

@ shriram,

5877 to 5973 could be the 1st wave having "i,ii,iii,iv,v sub-waves" and a running 2nd wave correction is on for a bullish scenario.

Ilango said...

Now, weakness "only below 5970".

shriram said...

@ ANMP:

1,2,3,4 step on the dance floor ;-)

anmpatel said...

Shri ramji ki jay ho...
main bombay aa raha hu...
lol....

Aly said...

Dear Ilango sir,

Is this iii in play now?

Aly said...

Nifty filling the Gap till 6012

shriram said...

@ ANMP:
Bombay to ab raha nahi, ab prabhu ko milne shayad aayodhya jaana padega ;-)

Re-calib the EW eyes..

a/i 5702 5949 247
b/ii 5949 5826 -123 -49.8%
c/iii 5826 6073 247 100.0%

RES above is MnHiEMA @ 6014

sudharsan said...

Wow nifty handsome gains.... Thanks to Master

amber said...

Sir ILango ji kindly update how to assert the strength of trend in intraday trading thnx

anmpatel said...

@ramji
prabhu to hyderabad me hai...

sometimesbullsometimesbear said...

Bhaiyaaa main kehta hoon (Rahul style)...

navratri hai...prabhuji ke better half ki puja karo, dandiya khelo...mahprasad khaoooo...wealth hi wealth aur health hi health....:):)

Infosys ko dekho...dekhte hi rehe jaaaoge....:):)

Jai Shri Ram :):)

sudharsan said...

Reminder Rising wedge

Ilango said...
@ Ajit,

Yes. Rising wedge is a good possibility, provided prices get resisted around 6000-6033.
October 9, 2013 at 12:22 PM

Nikunj Dharsandiya said...

Bullish Engulf on Daily chart

shriram said...

@ SB:

Bolo Raghupati Ramchandra ki Jai :-)

Ajit said...

NS hits top end of Rising wedge @6006, NF above rising wedge....confused so part booked.
Sir what to do in such scenarios. Thank you

sudharsan said...

Master Request for 3 pm update with Rising wedge possiblity

Ilango said...

@ amber,

Prices closing below DHEma indicated a consolidation unless closes below DLEma, which will signal a reversal.

Since prices managed to hold above DLEma, corrections have been bought into.

There are no fixed way, trend assertion takes place. It depends on many factors. Most could be understood using EW study.

Aly said...

will tomorrow be a Gap-up opening? Sustain ghte Gap nifty will confirm the 3rd up possibility

Ilango said...

@ sudharsan,

Updated.

Prabhanshu Raman said...

What if it fall now back to 5900 levels ; )

just joking. .. ;)

dv pandit said...

@Ilango Sir

ShortNF@6052 as NS in overbought area.

Prabhanshu Raman said...

Sir, rising wedge is bearish or bullish? I am yet to start reading on rising wedge.

shriram said...

hahah.. SB. yea ;-)

Bye all, hv a nice day

rk said...

sir can we say this is X wave 6142 is A, 5700 is B & C going on as ED?

dharmu mishra said...

sudarshan
rising wedge so what target is there in calculation and at which level u will think of shorting

sudharsan said...

Master with your Permission
@ dharmu mishra
http://www.investopedia.com/articles/trading/07/rising_wedge.asp

sudharsan said...

@ dharmu mishra we will short when the price break the lower trendline

Prabhanshu Raman said...

Rising wedge got it. Bearish in nature. short when price breach ascending trendline (from 5701) with sl at last swing high (as of now seems 6033) with target of breach point - (6033-5701)
Invalidation if price goes above 6033 ie breaching top trendline.

dharmu mishra said...

sudarshan
great yaar but should we look for -ve divergence to support it do u see that kind of formation too
thank s

shriram said...

@ Dharmu:

Good.. more important -ve Div. of which Indicator ?

If looking @ the up move from 5877 as a 3wave , then u shud see RSI Div , and if seeing 5waves then look for MACD ... all on experimental T/fs and varied Fast, Slow EMA pairs..

There is more than meets the EYE on this word "Divergence ".. but it has all the info of the wave , once u know how to use it !

Bye

amber said...

Sir thnx very much thnx

dharmu mishra said...

shriram sir
thanks sir to make the things more clear

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