Dear All, Gaps are supports and resistances. A small gap exists between 6362 and 6364.
Sir ILango ji charan vandan and everyone good morning
dear sir banknifty resistance given plz..
GM Master & JN Family,Have a gr8 trading day!
@raghavendra, day low was 6345 9/12 next day high 6262 so no gap.
Dear All,Nifty resisted 80% retrace - while sensex crossed 80% retrace ( 80% retrace value 21301 , Day high 21329 )Raghavendra
Master ilango and friends,good morning to all
@ Piyush,Nifty closed at 6364 on 9th Dec .Nifty opened @ 6355 and made a high of 6362 on 10th December - Hence the gap of 2 points.In sensex - however the gap is closed on 10th itself.Raghavendra
@raghavendra,my point was in japanese and western ta, whatever i have read, gaps are b/w high lowand not from closing. there shud be open air in daily bars.
Namasthe ilango sir and friendsToday’s quote received :Don’t let things stop you in life, it is the only way you will learn and gain new experiences.Be brave…Take action….Nothing can substitute experience
@ piyush:Many TAs differ here.. there is a camp that says GAPs r between prev close & next day open..
@ Piyush,I look at candle sticks and my understanding of a "Gap" is between close and open prices.In this case - A down gap occurred on 10th December and Nifty never made a high above 6364 since then and never scaled this price.If i take the high - low, then there is no gap - but let me re-read on this and come back to you.Raghavendra
@shriram, raghavendra,ta is an art and its legitimate to have very different views. edward and magee for classical western ta and steve nison for jap candlesticks both refer gaps as high and low. hence i quoted.
@ piyush:Thats ok. Literature is a nice guidance to hv, .. wot has been ur personal exp wid GAPs in Nifty / BN ? has it worked when u considered Hi-Lo or Close-Open , historically for our markets?
A window is a gap between the prior and the current session's priceextremes. -Steve NisonLV
shriram,i have never tracked close/open gaps there wud be so many. however my experience is island reversals are really failed pattern nowdays. high low gaps offer resistance till not closed, i have observed this.
@ Shriram, other WW experts,Is there a -ww on 30 min charts with 1,3,5 at 6317,6327,6357 resp. with activation at NS going below 6341 ??Cheers
dear sir can wave B done from 6358...and counfm bellow 6321...m i right sir...?
Dear Ilango Sir & Blogmates,OI Table Update at 11:00AM, Pivot-6358, R2-6382, R3-6407, VWAP-6390After 3 days of Low Volume Range bound moves, it has broken out on the upside, but the CE writers are not moving out, Support getting stronger at 6300 Level…Thanks & Regards
Happy new year to all
@ Piyush: ok, will check ur obsvs over the weekend, tks@ RS: not possible.. 1-3-5 , 2-4 lines have to CONVERGE
Dear siri am a novice user.. would like to learn from you. have read & understood the THEORY of EW.1. can you guide me, where we are currently ? on which way ?2. can you teach me how to read "Tech. table & Pivote table". ?3. Other parameters on which keep ur EYE open.Thanks to you all
*typing mistake1. can you guide me, where we are currently ? on which WAVE ?
Master,Is there any MACD signature unique to CORRECTIVE wave identification , for FLATS / ZZ / CT etc ?
A small bearish ww may developns may have formed pt4 near 6345ns now and may form pt5 near 6352 ns levels and then may dip towards trgt price of 6338 near 1.30pm
@ Paresh Dalsania,If you're a JN group Member, you can download the "JustNifty TA" file and check the EW labels from month/ week charts.Day labels available from EOD chart.Hour EW labels during intraday updates.Start from month to week to day to Hour to understand the waves so that you can make a trading/ investing plan for better entry, etc.For TT reading & pivots:Tech.Table ReadingTrend following & Tech. Table reading..
@ shriram,I haven't gone deeper into the macd patterns during various corrective formations. I haven't felt the need for it so far.Let me study them..
dear sir updat plz...your viwe
Master,Tks, but then how do u generally identify correctives, Pure form or wid any other aid ?
Dear shyamal day plz dont post tips here...
New Post Done.