sudden increase in 6000 PE in last few minutes. Every indicator is down. Dont know whats making 6000 as strong base.
@OI experts: As per ICICIdirect, the OI addition @6000PE happened at average price of 80. So the theoritcal suport stands at 6000 - 80 = 5920 & nifty will not go below it as long as the OI addition stays... Please correct me in case I am wrong...
Afternoon Everybody....Looks tough for Bulls but they may try to come to 6060,up to 3.30 PM.
@ MynacAnd that will be 61.8% of fall from 6075 to 6041. Another point to look for weakness
what it is indicating by staying here ?????
He who learns but does not think, is lost! He who thinks but does not learn is in great danger.Confucius
Dear raj.abj,Though weakness is there and not any concrete reason to bounce back,still there is not substantial addition in NF O.I.For further low it needs selling across the board,is assumption.
Masterpls let us know the 30 WK SMA
sir, 12345 shud start from 6097.85 or 6096.95?
Above 88 6000PE can see huge unwinding.
Dear Ilango Sir & Blogmates,OI Table Update at 1:00PM, Pivot-6112, S1-6090, S2-6067, VWAP-6083Nifty Future has moved down towards the lows of the day around 6060, but still not much aggressive addition at 6000CE, though the 6100CE writers are adding and now has the highest addition for the day…Thanks & Regards
Dear Sir, Has the abc completed from 6027? Last friday u had mentioned that a b had completed at 6098
thanks sir. looks logical as 6069 was whipsawed by 5 wave to 6096.65
6049 6054 ... is 50%-61.8% retrace of the last fall from …… 6073 to 6024 80% is - 6063 If weakness is to return, it should be around 6049 6054 Strength gets confirmed above 6054 OR 6063
sir is the fall a 5 wave or 3
Dear Ilango sir,Does the fall from 6098-6024 look like a 5-wave completed form to you?
@ gaurav,A 5 sub-waves done from 6072.55 to 6024.25 which is part of the fall from 6097.It could be an "abc" from 6097 or "iiird" wave from 6097.Prices in this bounce would decide.
Dear Ilango sir,Would BN Jan month candlestick pattern qualify for the "Evening star pattern"Raghavendra
Master , Is 5 wave completed?I m counting on 5-min t/F as 6097-6053 as i 6053-6075 as ii 6075-6024 as iii 6024-6042 as iv
SirWhat will be the distinguish point or identification if abc or iii.Can we say if stayed below 6063 will mark it as iii and if move passed it then abc
Dear All,Quoting Vivek Patil from ICICI Direct.com"The gap-down action of last Monday remained uncovered during rest of the week. That leaves it as an un-covered gap-down action on the Weekly chart. This also makes it a first Weekly Gap-down in 6 years. The last such Weekly Gap-down action was seen exactly 6 years ago on 21st Jan’2008. During Jan’08, Sensex topped at 21207 on 10th Jan, lost 5872 pts or 28% in 8 straight days. It then bounced back to the Weekly gap-down level. The bounce-back retraced the initial fall by about 61.8%. Failing to cover the gap-down, however, Index opened the larger bear phase, which saw it losing 63% from 21207 to 7697 in about 9 months till Oct’2008.We must, therefore, watch if the current drop also continues for about 8 days till coming Tuesday, and if Index makes any attempt thereafter to bounce-back towards last Week’s gap-down area. We may also see if any such bounce-back it able to cover, or indeed fails to cover the Weekly gap-down area. That could provide us with mid to long term cues for the market.Technically, failure to cover any gap-down is a -ve indication. Last week’s gap-down action at 20899-21124 (Nifty 6188-6264) would, accordingly, be watched as crucial hereon."
Dear Sir,In 1 pm chart, nifty movement and indicator movement have been offset.
A bounce is surely coming today or tomorrow
If it will ;abc'than we may bouncing up to near 6150
Time for a bounce... CMP-Dev.DLo again enters 1 Std Dev zone..
New Post Done.