Monday, December 23, 2013

Nifty Intraday Update-III


21 comments:

Aly said...

4th time will break upwards of 6310?

Aly said...

finally. should target 6336 based on flag pattern of 6310-6286

anand said...

@Aly
Now this 6300-6310 range should act as a "decent support" if retained for the day or 2. (Or nothing much if breached today itself ?)

Prithvi Raulji said...

I Think ABC done @6318, Now 3rd Fast n Furiuous start

Ilango said...

To follow the current rise, use the following:
---------------------------------------------------------
6302 6298 ... is 50%-61.8% retrace of the last rise from …… 6286 to 6318

80% is - 6292

If strength to return again, it should be around 6302 6298

Weakness gets confirmed Below 6298 OR 6292
----------------------------------------------------

Aly said...

@ Prithvi :)

we dont know whether it was ABC done or i-ii-i-ii for larger 3. we should avoid speculation and follow the trend.

in this case last upmove is from 6286 and nifty has to first cross that level down for any weekness to manifest

Aly said...

ok. Ilango sir has already given weak below/strong above levels

Raman Kapoor said...

Dear Sir,

If wave 3.v is in action from 6186, can we say that its length will be 60 points (same as wave 3.i from 6177-6237) till 6346?

Aly said...

@Raman,

Afaik, v can be of any length but minimum of 0.5*wave i

Ilango said...

@ Raman Kapoor ,

Yrs., that is one possibility. For that view to continue, prices should sustain 6292.

Remember that these are guidelines and there are dangers to counting EW in such close quarters - 2 min; you can get distracted in no time.

Right now, the prices have come to the most contentious zone - Bear or Bull.

Bharat Kumar said...

Ilango Sir - Likely targets of the Bear flag indicated above pls...

Ilango said...

9 day rsi remaining below its trigger gives the Bears an upper hand here.

Bharat Kumar said...

Ilango Sir - Is there a rising wedge you've indicated in the chart above?

suresh said...
This comment has been removed by the author.
herry said...

can iv th wave start.?

Aly said...

sir another 3 wave correction?

Aly said...

closing average anyone?

chetas said...

30 sma based avg closing as of now at 6287.50

Piyush Sharda said...

sir 6286 -6318 not a very good 5 wave , maybe irregular flat ends here/close to 6272?

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