6304. Golden ratio for the rise from 6277 to 6347.Also next Hr. JNSAR and Day's pivot.Will it support NS in this fall ?
Namaste Sir and all, Sir, one request - Can you please give the EW count for Tatamotors?
New day low @ 6304.35.Day Pivot & Golden ratio to the rescue of NS.
sir, view of tatamotor?
New Day low @ 6299.85.Weak below 6295-6291.Will 6282 provide support ?Let's see
abc from 6347 done?
6323 6329 ... is 50%-61.8% retrace of the last fall from …… 6346.5 to 6299.85 80% is - 6337 If weakness is to return, it should be around 6323 6329 Strength gets confirmed above 6329 OR 6337
Sir how to gauge if 4th is over and 5th started?. Now as per patterns and trendline - there exists equal possibilities for both down and upmove for tatamotors. down targets upto - 340, up targets above 400+Down sides coincides with an ABC corrective. A done at 360.1 B @ 379 and C is going on now.Up sides - 3rd completed at 405, 4th completed at 360.1 and now 5th in progress.today resisted at 50 DMA and now supporting at 10 DMA. So trying to get your help on EW - please clarify. If possible please upload the TA file in group mail.
@ marina, 6292 will be the trendline from 6162-6235 lows hence should be weak below that numberhowever real weakness should come only below 6265 which is tomorrows low as well the trendline connecting 6140-6162 lows
Dear Ilango,If this is a "D" false break out then what are the guidelines for "E". Is my understanding correct that E can also reverse from mid-way and not necessarily touching the bottom channel line in other words indicatind a bullish undertone/????????
Dear Ilango Sir,to me it looks like a 3 wave move from 6347-6299. It has a potential to transform into an impulse also with a i-ii-i-ii kind of structure. Hence wouldnt a tick above 6326 imply that this was an abc correction and at max we can another abc down but will be followed by an impulse move targetting above 6347
@ satheesh,How do we know a correction is complete?Never for sure.Probability can be arrived at by observing:A pattern of 'abc" getting completed with internals of either a flat or zigzag (often repeated) or triangles in 4th after a steep 3rd.A divergence emerging in oversold conditions along with "credible candle reversal formations" while the pattern is on the verge of completion.Price following these with a close above ST average.You could list more points based on your own experiences. Remember that not all of them would occur to confirm a completion but some indications emerge definitely. Longer the sideways consolidation, the range break-out gives another clue.
@ satheesh,File uploaded.
Dear Ilango Sir & Blogmates,OI Table Update at 1:00PM, Pivot-6312, R1-6356, S1-6287, VWAP-6326The CE writers though added more for the day, but unable to create much dent in any of the PE levels, Consolidation on, VWAP at 6308 is the level to Watch…Thanks & Regards
@ CDG ,"E" waves generally are truncated. Each wave has taken 5 to 8 days. We need to follow the "pattern" in the coming days.
@ Aly,i st wave low 6325.75 was not violated by the "triangle iv th" wave with a high of 6325.65.Market keeps both option open.
hi SKS this time also i missed jnsar trade because of Pongal busy. now what to do? shall i trade intraday by using hour jnsar?
@ Ilango Sir,Thank you for your response. didnt notice thatReally amazed at the Markets ability to keep on foxing people
Thanks a Lot sir, Sir In this case the 2nd was a Contracting triangle - now an expanding traingle is spotted - in weekly TF. Is there possibilities for 4th to occur in expanding triangle pattern - or should it be considered as a Broadening top with 5th completed and the corrective is to start?
GV dear u hv to take all trades. ...If u missed a trade let it be...as many here will tell u the common phrase..."chalti gaadi pakadne ka nahi..."Wait for the next JNSAR trade.....Intraday trading is a different system altogether and do not venture into it unless u have a PHD in Intraday trading or at least a Masters....:):)Enjoyed Pongal huh....Great...:)))
@SBSBthanks ya... i will wait for next day jnsar.
potential fast fall setup on 30 mins NS ? setting 5 and 10 SMAs !
dear sir your pre.mkt viwe suport 6298 hold eregular 6358-6383 ...cuntinu?
New Post Done.
@ AlyThanX for Ur reply.
@Master,Wrong weekly high(6358) in TT. Its 6346.50 as of now.
Hello Ilango,I always thought descending triangle was a bearish pattern. Here the e leg of the triangle seems might end near 6130-40 and then turn up. If this is a triangle, it cannot be wave 2, can it and hence the move from 6415 to 6128 is wave A? Please guide me as to how to see the current setup in one level higher T/f. Thanks in advance