Monday, October 21, 2013

Nifty undergoes "intraday corrections"..


6 comments:

anmpatel said...
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anmpatel said...
This comment has been removed by the author.
anmpatel said...

@master and all EW expert seniors
if we take 1st wave from 6033-6152=119 point
and 3rd from 6129-6218=89 point
so as per rule (3rd never smallest) this up move from 6163 +89=6252(max limit for 5th wave) then the corrective 4th of major upmove from 5700? and then final 5th? which will end the 3.i in day t/f?
is my understanding is right??
Please guide me.
thanks in advance.

Prabhanshu Raman said...

@ anmpatel. . My understanding. .
Since 3rd can never be smallest. .5th can do 88 points from 6163 ie till 6251 completing (5) in hour tf and 3(i) daily tf. There after ABC correction will start for wave (1 ie 5701)-(5 ie 6251) completing 3(ii) in daily tf.
Then 3(iii) will commence with min tgt of (6251-5701) ie equal to 3(i)

Prabhanshu Raman said...

One more point to add, wave 2 can retrace till starting point of wave 1. So wave 3(ii) max tgt can be 5702

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