Just realized that recent gap on 13-Dec-2013 on opening from previous close of 6237, below support of 6230 earlier is filled and now some minor resistance from 6230 level should be offered..
Sir whats developing jnsar for BN?
Sir whats developing BN jnsar?
@ masterDown trend + positive global cue = sell on riseDown trend + RBI positive news = ?????Please advise master... Your view and guideline is very usefull to match the events with wave...please....
Lacking" the 5th wave characteristic.Weak below 6199.
Dear Ilango Sir & Blogmates,OI Table Update at 1:00PM, Pivot-6177, R1-6201, R2-6242, VWAP-6218A 'No Change Policy' got the market up by around 80 points in a jiffy, now for the major job of holding on to the gains with 6200PE writers on the forefront, a close above 6211 will tilt the Balance to Neutral…Thanks & Regards
Dear Ilango sir,this slow rise from 6199, does it look like iv.b?
@premwth due respect fr master--rtnow mkt entered sideways mode as per ttwait fr change in day tecnicals, a close abv DHEMA MEANS JNSAR LONG HIT,wn week is in sell on rises--jnsar may whipsaw,so you can stillwait fr week trend to reverse ifyu wishallthe best
@ cooldent ,11552.(approx)
Master,6130-6236 may be a w1 also done , and now w2 ?
Yesterdays outside day candle closing at 61.8 level of entire rise from 5972 was indeed a bullish signal.
Sir weekly trend still down right ?
Jai Shriram !Sorry to interject here before the Master's reply...If that count is correct, then the slow move can be attributed to flat w2 and now waiting for 3rd ? Certainly, it will be within the beginning of smaller degree till 6306 - 61% - is breached as retraced like 3rd of the 1st wave if trend turns up?But first momentum sign only above DHEMA - 6230?
@ Anand:yes EOD close > DhIEMA is a must for this label to hold water,more after sapad, Bon Appetit !
@ Prem,Please do not "Standardise" market events in that fashion.Attempt to understand the market's undercurrents using technical studies which are based on the ultimate - Price. We use technical study to "follow price" in a "Better way". People have been wasting their time to follow "Just Price" which will not produce superior results.Some follow using EW;others do it with TA;or with OI analysis;or Market profile and so on..I have chosen few tools and each tool has many dimensions to it. When to use which tool in which form comes from experience.I have failed enormously. I have fallen to the depths not seen by any. I have crawled my way back and "Standing guard" near that depth and sharing my experience of "Dealing with the market forces" and realised it that "Market is like a puppy.....looks like a fierce fox but could be tamed if we apply ourselves". And this application is many forms. If it sounds complex, choose just JNSAR & follow it and you will find your money doubling each year as long as you employ a manageable capital not a crore.
Dear Ilango Sir,With this move above 6221.40, previous fall from 6236-6199 can be assumed to be a 3-wave indicating that the fall was of corrective nature. Am I correct in interpreting this?
Dear Master,Among some of your earlier words - this is also going to be unforgettable and inspiring. Have read about traders hitting rock bottom and crawling their way up. Knowing this dimension of yours, will strengthen the resolution of many others...Thanks for sharing such personal insights!"I have failed enormously. I have fallen to the depths not seen by any. I have crawled my way back and "Standing guard" near that depth and sharing my experience of "Dealing with the market forces" and realised it that "Market is like a puppy.....looks like a fierce fox but could be tamed if we apply ourselves". "
@ nakshatra,Weekly trend is "UP". Only when it closes below 5WEma (OR 5WSma), it is said to be in downtrend. Last week, it closed above 5WEma-6162.
@masterGreat words master... Every words from your experience is a energy drink for us... Very nise... Many thanks master....
Good Afternoon Master....@ Master weekly trend is UP.... but we had a sell on the rise signal last week????
@ sudharsan,Trend is "UP" but a consolidation is on as long as prices do not close below WLEma. Until then, prices stuck between HEma & LEma, it is in a "Trading range".It is sell on rises initially and once that selling brings the prices down closer to WLEma, it, then, becomes a "Buy on dips", based on shorter T/F technicals.
Thank you Master
Because the 3rd wave from 6162 to 6236 was sharp, it is possible that the 5th wave from 6198.50 to 6226.25 could be the "truncated".It makes the ST labeling difficult as 3 waves "Flat" also remains in contention.Truncation spoils it unless market moves past 6236 soon.
can anyone tell the WLEMA?
Based on my experience of past few months I have found that whenever Nifty spot moves and closes above15 SMA it results in a short term bullishness and vice versa. A close above 6218 today will result in a close above 15 SMA
For this wwek as per TA WLEMA 6103
New Post Done.