reposting..shriram said...--> backMaster, as an alt. can u see 5 waves done now from lows of 5962-6021 ?
6000PE @ 75 lac OI - highest - 6000 might well prove to be the base for this series !Scaling 6035 (61% retrace) may attempt 80% and then larger retrace of the fall from 6170 - to i.e 6080 (next golden ratio) . Long with SL at 6000 -5995 can be attempted
@ shriram,Yes. There is a 5-sub-waves from day's low to day's high-5962-6021.First fall from 6170 reached 6027.Keeping below "6027" would be quite weak..
Nifty....kahin pe nigaahen....kahin pe nishaana since beginning of Feb settlement...:):)'Prebudget excitement missing.....or will there be a full fledged budget at all.....:(:(
Master,Thanks,.. ok, now that bring forth a slightly odd. Q !If 5962-6021 is a Hiprob 5wave.. how to fit it in the overall rise from 5934-6018-5962-6021 sir ??
looks like a fiver from lows
@ shriram ,It is quite simple:Whenever market wants to confuse, the sub-waves during corrective rise(initially taken as corrective) would be of 5 waves. The larger 3 considered would become sub-dividing waves in case of a reversal.As long as technicals favour a "corrective", we'll stay with it accordingly. Important thing is to understand the "changing directions".
vth could sub-divide, considering Hour TA..
"6010" would confirm if 5 done.
mmm.. ok Master,then do we relabel 5934-6018 as a 5wave instead of 3, if NS goes > 6027 ??
dear sir nifty weeknes below 6010..?
Dear Sir,for learning purpose, is 6010 imp because 0.618 of last rise from 6002?
@ shriram,A bullish view would be to label as:5933-5971-15971-5940-25940-6018-3.16018-5962-3.25962-xxxx - 3.3Bearish:5933-5971-5940-6018=a6018-5962=b5962-6021=c (whether these are sub-waves of "A" is not known-but ST TA suggests so.)
possibility of a small bearish WW may be developing in nifty charts ...nifty may have formed pt4 near 6010 and may form pt5 near 6025-27 range for trgts near 5995 tomorrow
Yup, Thanks Master.. :-)Lower strike options OI behaviour tho is bullish, and hence the detailed Questioning.. thank u :-)
if the smaller WW works out then may open probability of a larger bearish WW pt 3 may form near 6025 then may dip for 5995-90 range to form pt4 and again may move up for 6040 to form pt5 and trgt price near 5970 in 2 trading days
@ shriram,When in doubt, I visit 9 period rsi. It has helped me almost 90% of times.
@ Sir,, can you please throw more light on....Ilango said...@ shriram,When in doubt, I visit 9 period rsi. It has helped me almost 90% of times.February 5, 2014 at 2:43 PM
@ S4S: to add to the -WW fire-power , Dev.WkLO @ 6069 is a Big RES & so is the GAP : 6067- 6120 NS , but 1 caveat i remember u had told me earlier, when -WWs are spotted @ lows...... :-)
@ Ilango Sir,Just a quick clarification.....9 period RSI in hourly charts or in daily charts ??ThanksRS
NS Day high @ 6023
@ Ilango Sir,Asked becoz 9 period RSI in hourly charts is showing negative divergence.RS
NS Day high @ 6025.20
@ RS,I don't see any -ve div in Hour.
@ RS,9 period refers to 'any" time frame.
hmmmmmmmmmmmm!! shorters left high n dry.........
Oops...Thanks for correcting me Sir.RegardsRS
Master,Many tks for answering so clearly in live trade :-)
dear sir nifty below 6007 can start od Vth wave...?
Value addition of the day:==================Nifty Simba said...hmmmmmmmmmmmm!! shorters left high n dry.........February 5, 2014 at 2:59 PM
Hahahahahahaha....Nifty SImba...you are too much CheersRS
Bulls need to hold 6021 by EOD DLEma +20
@ Ilango SIr,Since the last few days, frames of hourly chart and lead indicators are misaligned...Could you please chk ....ThanksRS
6028 - 34 hrsma , need to be watched carefully for early signs of reversal .
@Master,Looks like close above DLEMA,Should we go long as Daily "Pause" mode
Until a close above 34 Hr Sma, view the rises with suspicion.mens...? plz gide me sir
simple lables to EW eyes:a 5934 6018 84 b 6018 5962 -56 -66.7%c 5962 6046 84 100.0% ** in play
dear sir can long nifty ..?plz gide this leval
Friends Best would be to wait for JNSAR to show us clear direction
@Sudharsan,JNSAR is best for clear visionAnd if trigger than bigger trend start
Master Does vth wave from 6002 look like ED (with a,b,c,d being completed and e in progress) ?
Looks like bulls are now being given high protein feed. Closure above 6020 is a good sign to start with. The next tgt for bulls would be 6090 where we can then take positional longs as per jnsar.
Yes Prithvi you are correct
Conservative trade#9th day Short from 6292......Tomorrow's JNSAR 6090.....Long above this number tomorrow.:):)Have a nice day...:):)Time for afternoon siesta.....and sweet dreams....
Master and Friends....Byeeeee
@All,We learn technicals from our master (Vani Sir),,and we learn that If trend Down and if close above DLEMA 'Trend Pause' and Close above DHEMA trend Reverse
@prithvi rauljimr vani wud be ilango sir's dad.