Wednesday, November 20, 2013

Nifty's relief rally reaches 61.8% again & falls on a/c of ST OB which aligned with week trend..


11 comments:

manu s said...

Nifty seems forming a H&S pattern in day time frame with LS at 6252 , H - 6343 and RS at 6212 . If right where do we place the neckline and what could be targets achievable .

Nifty has hit the 61% retrace of the move from 6041 - 6212 at 6106

Prabhanshu Raman said...

@Hardeep and Ding...
Guess to poora ulta pad gaya. . Lolz. . In fraction of time bullish view changed to bearish. .. Also i will be careful next time onwards with cluster of resistance. 2nd experience in a matter of few days
Lesson learnt.

Ding A Dong said...

Hi Prabhanshu,

Har Ek Guess Ka Ek Time hotha hai... if that view is not working in given time then its time to change our view... as per me that's technicals and in simpler term its "following"

The above statement is more relevant when we are guessing based on tools like Open Interest which are very fast to change. Today can observe that at 2.50PM 6200 CE PE OI exactly reversed in just 5min.

Ding A Dong

gkm223 said...

sir please rectify if I am wrong,
6143-1st wave
5701-2nd wave
6343-3rd(I)
5972-3rd(ii)(a)
6212-3rd(ii)(b)
????-3rd(ii)(c) in progress

Jagan said...

Namaste Ilango Sir And All.

@Ilango Sir,
19th, 20th November DLEMA are same(6107).

durga said...

@ prabhanshu raman
No need to b bull or bear
As master says foloow it
Asa mayter of fact now also ---sideways not bearish. Have a nicw day ..

hardeep thakur said...

@ Prabhanshu,
Around 3 O'clock, I was about to post that we are in same positions as that of yesterday and this time 'feeling' was little strong to go around 6270 tomorrow(with gap up) but things changed in just few mins.

Regards,

Janak said...

http://profit.ndtv.com/news/corporates/article-reliance-industries-fined-additional-792-million-for-failing-production-target-report-372768

this can create huge panic?

VRJ rammanohar said...

TOMORROW SPOT FAILS TO TRADE ABOVE 6140 AND CLOSE WE HAVE VERY STRONG
REVERSAL TO 5800 TO 5700 LEVELS.
1. 6343 --5972
2. 5972 --6212
3. 6212..........IN PROGRESS
ILOGO JI PLEASE CLARIFY IF I AM WRONG
I AM AT LKG AS FOR AS EW IS CONCERN
THIS IS MY FIRST QUERY HOPE TO SEE YOUR VALUED ANSWER

nissan deka said...

Hardeep n Ding Dong
how do you come to know about call put status? please reply

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