GM Master & blogmates.Have a profitable day.
Good morning Ilango sir and blogmatesyou posted in premarket :Initially, look at the bounce/ retrace for 6170 to 6027 while holding "6047".you took 6047 because of :i) it is HLEMA (Last hour close>HHema)orii) it is 61.8% of last rise (6027 to 6082)orbothorany other ?Plz answerwith thanks
@ Satheesh,Your TataMotors label has produced a good fall...a perfect bear flag/ an "abc" completion..
@ Marketrider,I considered 6027 to 6082's 61.8% retrace.
Dear sir,as per the RED label count the 2nd wave took more than 20 days.since 6140 is the low of 1st wave how do you view the possibility of RED 4th wave[the range for this red 4th seems to be 113 points] or subdivision of red 3rd is pending? thank you
Sir ILango ji charan vandan and everyone good morning
Dear Ilango sir,Not sure if you had the chance to look at this question on Month trend assertion this morning.Last Friday's close was @6267, just 3 points away from MHEMA going into last week of the month.At what price points / days & price action - during this week we should have considered that Month trend assertion ( HEMA ) is failing ?.Is it the Monday's closing below WLEMA ? or any other signal ?.
Namaste Sir and all, Thank You Sir. :). Sir one doubt - Can yesterday's high be 367 - labelled as a.c today's curent low 350 - as b.c and another high near 368-370 as c.c to complete the entire B - If the low of 350 finds support.What I mean to ask is till 350 is broken - can it be considered that the B is still ongoing??
@ Satheesh ma'am - To sum it up, targets pls!! :-)
goodmorning illango sir and blog mets,
satheesh maa'M..tata steel following tata motors too..please have a look.....and post your charts please
looks like month trend try to assert
Sir, please confirm if the pink labels will be validCLICK HERE Tatamotors Hour EW count chart
@ Chetna Jethi, It has been quite a long time since I have looked into tatasteel. If possible I shall do it this weekend.
@ satheesh,We don't know that; to keep it simple, monitor the retrace for yesterday's high to today's low.
@ Raghavendra,We observed a critical resistance @ 6331 initially.We talked about 6130-6140 as the next decisive one to move towards 6071.We then talked of 6002 & 5971, breaking below 6071.Presently, a retrace is on.It is the break of 6130-40 which indicated a deeper correction.
@ DR.SGM,Present focus is:Either 6356 to 6086 is 1st/ A wave, followed by 2nd/B @ 6170 and 3rd/C wave in progress with a bounce for its sub-wave 3.i/aOR 6356 to 6027 is 5 sub-waves of 2.C or it could go deeper towards 6002/5971.1st one has more bearish undertone.
Yes Sir I got your point. Bearish Possibilities:B over at 367.9(i) - 350 - today's current low(ii) - 350-xxx - retracement of 367.9 - 350and (iii) down from thereon.Retracements for 367.9 - 350 is:Retr for 367.9 - 35023.6% - 354.2238.2% - 356.8444.7 - 35850% 358.9561.8% - 361.06
@SIR/SHRIRAMdo u see a possible development of a small bullish WW in nifty daily charts???????may have made pt4 near todays high at 6097 and may dip towards 5970-60 range on monday to form pt5 and then towards 6100+ for trgt price
@master,If today close below 6100(MEma) than can we say that monthy trend weak??
Monitoring current corrective rise from 6027 to 60976070 0.62%6062 0.50%6041 0.20%Hence weakness below 6041. Master may confirm.
@Satheesh: After your analysis, please let me know what are good levels to go long on tata motors in cash.
i guess nifty may trade in 6097-6067 till last hr and then may dip towards 6030( WW pattern)
6000 PE is showing good OI and Intra addition as well.
New Post Done.