Thursday, October 24, 2013

Nifty, on completing "5", sells off, as in a reversal...correction...


8 comments:

Prabhanshu Raman said...

Sir and seniors.
Please explain the characteristics of ABC corrections in brief.
My understanding is (5) completed and ABC correction for the rise from 5701 to 6252 is ongoing.

Sandip Patel said...

The index from recent August '13 lows has observed
a sharp advance and has probably completed its wave
'v' formation today after making a high at around
6,252.45 levels. Recently the emergence of multiple
Doji candle halted the advance which was later
followed by a Hanging man candle which was also
Bearish Engulfing and today the prices formed a
Shooting Star,". "All these patterns indicate exhaustion which is also
confirmed by the negative divergence in the
momentum indicators which indicates a short term
trend reversal on cards. The current pattern indicates
a sell on rise approach towards the resistance zone of
6,230," source economic times.

Pt said...

Seniors, Are we now in an impulsive 3rd wave.....

hari said...

Here is the link of Mr. Ramki

http://t.co/HZFm6Cw8Sy

Hemanth said...

Master nd Seniors can you please give the Elliot Count..Elliot theory says ABC correction will head towards low of 4th Wave..Just wantd to know.

Thanks for your time !!

Anandhan S said...

WHEN NEED TO GO SHORT FOR NIFTY? JNSAR VALUE 6138? OR 6116? PLS HELP

Anandhan S said...

WHEN NEED TO GO SHORT FOR NIFTY? JNSAR VALUE 6138? OR 6116? PLS HELP. ILLANGO SIR PLS SAY

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