Friday, December 20, 2013

Nifty Intraday Update-III


Ilango said...

@ Aly, long as 6213 holds. Below 6213, tolerance upto 6207.

shriram said...

If counting C up from 6151, and C.1 as LD

then C.3 may be doing thus

3.i 6158 6196 38
3.ii 6196 6177 -19 -50.0%
3.iii 6177 6237 60 157.9%
3.iv 6237 6213 -24 -40.0%
3 6213 6243 30 50.3% ** in play

To be followed next week by C.4 and C.5 to finish a ABC from 6130 ??

dharmu mishra said...

respected llango sir
why we consider sometimes 38.2%and 50% though normally we consider 50% and 61.8%
is it because of iv wave which does not retrace much or some other reason is there
as said in last post
sirllango said...

Monitor intraday trades with the last rise from 6177.

6211 6205 ... is 38%-50% retrace of the last rise from …… 6177 to 6232

80% is - 6188

If strength to return again, it should be around 6211 6205

Weakness gets confirmed Below 6205 OR 6188
December 20, 2013 at 12:25 PM

Ilango said...

@ dharmu mishra,

Experience in reading technical studies & EW and the kind of correction that unfolded in the earlier wave.(Quantitative analysis)

Ilango said...

Weak below "6219".

dharmu mishra said...
This comment has been removed by the author.
Sahil said...

Ilango sir.. As u said earlier As soon as a 5 wave completes a min. 50% correction may unfold.
Here.. A 5 completed from 6177, so should one look forward to buy again once 6227 (61.8% of 6236-6213) gets breached. Or am I looking too much in detail?

dharmu mishra said...

respected llango sir
thanks for your precious time to ans my query

Ilango said...

@ Sahil ,

Only when a technical matching with EW is complete, can we expect such a retracement.

Every market is "different". They are a combination of various T/F's price positioning.

Depending on that the retracement can be anticipated but "must be monitored" for any subtler changes.

It is possible that "iv"th is still unfolding after the "iiird" completed from "6177-6237."

Ilango said...

Weak below "6229".

Raghavendra said...

Dear Ilango sir,

Can today's price movement be considered as "weekly trend assertion" trying to change the Day TF ( attempting to close above Day High EMA ) ?


Ilango said...

"v"th wave successfully trailed with 6219 & 6229.

Ilango said...

@ Raghavendra,

Weekly signal "Sell on rise" provided a trade.

And yes, week trend too is asserting now.

However, closing below WHEma would keep it again in a "Trading mode" unless the day momentum surpasses it.

Ilango said...

3.00PM TT & Chart Updated.

Kiran said...

How about closing above 6283 (WHEma)

Raghavendra said...

Dear All,

Closing above 6254 will be a Bullish Engulfing candle.

Developing DHEMA ( @6276 nifty spot ) is 6253.


vishnu said...

Respected Sir

Developing BN JNSAR pls

anand said...

Dear Master,
Your early hints at trend reversals....simply great. Need to learn and act on them.
Such a powerful move (3rd or 5th- I would not guess), if caught at right time would have covered entire week's choppy moves/whipsaws.
Thanks for your guidance....!

vishnu said...

Thanks a lot Master.

dharmu mishra said...

dear Ragvendra
how you calculated for DHema
could you pls teach

Ilango said...

It seems, waves are sub-dividing:

6151-6197-1 as LD
6197-6158-6196-6177-2 as Flat
6213-xxxx-3.3 unfolding....

dharmu mishra said...

dear ragvendra
if this wave to be considered iii
than we should see 6292
is my application correct sir

Raghavendra said...

@ Dharmu ji,

DHEMA calculation is present in the Nifty TA files posted by Master every day. Please refer to the tab " Data D" and column M.

EW waves - just follow Ilango sir's waves.

My understanding on 3rd wave : They can be either equal to 1 , greater than 1 or less than 1 as long as its never the shortest.


dharmu mishra said...
This comment has been removed by the author.
dharmu mishra said...

thanks for response
i will download TA nifty file today
should we be cautious at i=iii
how this level to be managed in trading

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