Dear Ilango sir,Can the hourly chart pattern from Dec 11th to till date be considered as a "Cup and handle " pattern. ?Raghavendra
@ Raghavendra,NO. The cup has a double top but the tops here have been 6415 & 6318, quite far from each other.
respected llango sirsir i am not able to understandwhy the importance to the break of 6311 level is given sirit is 21%of last rise from 6259 to 6325
80% of (6325-6259)=6311
repected llango siris it because of 5ema at 2pm as 6311
Thanks sir....Got it on the definition on boundaries of the "CUP - brim"I was also looking at the pattern from "x" wave on the above hourly chart. Is it wrong to look at this way ?Left side top = 6326 , right side top = 6318Handle from 6318 to 6259.Raghavendra
@ dharmu mishra6311 is also Dev. Pivot of 30.12.13
dear sir nifty above 6322 so sub wave vof v start..?
Dear Sir, I use 14 day RSI to spot overbought and oversold in day. Does it make sense to use 14 hour data and calculate RSI to spot OB and OS in hour?
Dear All,3 PM close - Developing NR7 day . Higher high above 6329 or a lower low below 6285 will invalidate this pattern.Raghavendra
NS and BN , Both had NR7 day today along with few scripts. BHEL, ICICIBank, ONGC, RCOM RELINFRA, TATASTEEL, WIPRO. YESBANK
23rd and 24th Dec were NR4 day for Nifty.
Kiran, please tell us what are the implications of NR7 day? what shall we do in these scripts?
NR7 day is not bullish or bearish indicator. It's range contraction due to bulls and bears fight and both are playing cautiously. Action can be taken a day after NR7 day.
sir ji,is ns 6311 from h to l 80% or l to h 80% as results will be different
dear raghvendracould you pls give me details regarding NR7