Thursday, January 2, 2014

Nifty Intraday Update-II


31 comments:

Ilango said...

@ shriram,

How do u generally identify correctives, Pure form or wid any other aid ?

After 12345, abc comes. That is how we identify the "start"..

Then when we see a 5 in "a", we identify a zigzag in "progress".
when we see a 3 in "a", we identify a Flat in "progress"..
when we see a huge 3rd in "12345", followed by a 3 in "a" for the 4th, we anticipate a triangle in "progress"..

Then, when we see another 5 in "c" in zigzag with c=a or c=0.618x a, we identify the zigzag's "End".
when we see another 3 in "c" in Flat , we identify the Flat's "End".
when we see five sets of 3's in triangle , we identify the triangle's "End".

shriram said...

Tks Master,

So this is based on FORM basically..

What about oscillators / one Degree Higher Hi-LOEMA in consonance to suspect ABC FORM, ?

or is not v co-relatable , per u sir ?

Piyush Sharda said...

"when we see another 3 in "c" in Flat , we identify the Flat's "End"."
sir,
shud it not be 5 in c for flat end, or i am missing something?

Ilango said...

@ Piyush Sharda,

Flat can be 3-3-3 or 3-3-5.

dharmu mishra said...

respected llango sir
thanks for sharing such imp experience
thanks

venkatapathy l said...

Sir that is splendid and masterly. Myriads of thanks.

Love and regards.

LV

shriram said...

Master,

FORM to become HI-prob must be needing CONFO signal from some Oscill or mathematical signal, isnt it?


Ilango said...

@ shriram,

"Close below HEma" gives the 1st confirmation of a correction unfolding during uptrend.

"Close above LEma" gives the 1st confirmation of a correction unfolding during downtrend.

Piyush Sharda said...

thank u sir, been a long time since i read ew. will reread in near future. was thinking flats can only be 3-3-5

shriram said...

Master,

Tks for the detailed replies :-)

Will try to implement & see if it improves my wave labeling & come back to u

shriram said...

@ Piyush:

Prechter Theory wise FLAT C is always 5wave.. many time WXYs resemble FLATs..

so may be PRACTICAL EW wise.. can be thought 3-3-3.. Ramki says WXYs are as common as FLATs..so.. may b thats wot MASTER meant , just trying to guess

anand said...

Wow !
Master has given the Simple Sutra with "summary of correctives " and reliability of our old friends - HEMA-DEMA-LEMA....

I want to believe that with so many other indicators - sometimes to confuse - keeping things simple with these should reward us and keep stress low. Easier said than done :-)

Thanks for these dialogues !

shriram said...

Master,

Can we consider 6130-6358 NS (todays top) as a 5waves done, on the Hr MACD..
no 1-4 overlap (w1: 6263 , w4: 6273) also..

Sanjay Jaiswal said...

Dear Ilango Sir & Blogmates,

OI Table Update at 11:00AM, Pivot-6358, R2-6382, R3-6407, VWAP-6390

6500CE OI has crossed 52 lacs and now could be the resistance for the series, momentum lacking as the PE writers are not aggressive till now…

Thanks & Regards

Piyush Sharda said...

thanx shriram,
ur explaination appears logical.

Ilango said...

Weak below "6336".

herry said...

thank you sir...

SKS said...

@ Illango Sir

TT update pl.

krish pm said...

@ Master,

Please Post the nature of the irregular flat correction starting and ending

Ilango said...

@ krish pm,

Irregular Flat correction should be renamed as "unwilling, impatient Flat". It occurs during strong trends and prices are taken to new highs even during corrective phase because of the impatience of the market which is unwilling to undergo a normal correction after the completion of an impulsive 5.

There are occasions where gullible traders take the market to a new high even after the completion of a 5 whereafter the 'c" unfolds strongly into a distinct 5.

Aly said...

wow what a move after it went below 6336

shree said...

anybody seen 6316 low on NF???? chart showing

SKS said...

@ Illango Sir

Does pre-mkt critical support of 6299 still hold good??

shree said...

sorry 6291low on chart

Chetna Jethi said...

sir,, why you chose 6336..i am saved in a nick of time, though...but why 6336 and not 6322

SKS said...

day JNSAR trigerred

Aly said...

40 pts in 2 mins?

what is the news?

mani said...

Dear ilango Sir,
Is it Nifty break down happened

krish pm said...

@Master,

What are the fibonacci ratios for a wave, b wave and c wave in irregular flat?

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