@ cooldent, vksoni,Last rise remain as from "6962";This zigzag correction had its "a" from 7172 to 7078=94 points;Its "b" retraced 80%, the mmaximum @ 7153;Its "c" wave is falling from 6159 and it could be either "6094"(0.618 of "a') or 6059(a=c).
Day Low : 7109.30 Day High : 7152.55 Day Pivot : 7111 Hour Pivot : 7126NS above HKN ( Hepta Kilo Number ). Currently @ 7116. More weakness below Hr. EMA @ 7111, also Day Pivot.NS continuing in SOR mode.NS will b back in BAH mode once above HHema @ 7129.For learners sake :BAH = Buy And Hold SOR = Sell On RisesHKN = Hepta Kilo Number = 7000
Good morning sir
Master,Last line to beIts "c" wave is falling from 7159 and it could be either "7094"(0.618 of "a') or 7059(a=c) or What U posted is correct ?
Some long upper spike candles forming.Day tfNow approching criticality80 -10
sir,how did you rule out the flat scenario where it can retrace 90%+ of 7172-7078 and then fall??
@ marina s rao,Correction:===========Its "c" wave is falling from 6153 and it could be either "6095"(0.618 of "a') or 6059(a=c).
siri guess nos shd be 7095 or 7059
MS Rao..Fingers still not used to "7".... and so our eyes.. :-)
@ Piyush Sharda,Ilango said...Largest fall since the reversal started from 6638.60.(i)st wave may have been done at 6172; (ii)nd wave is on...If extremely bullish, an irregular flat( or a flat) is the possibility.May 13, 2014 at 12:44 PMIlango said...5 sub-waves in the current fall from 6172 to 7101 suggests of a zigzag ahead..in (ii)nd wave.May 13, 2014 at 12:52 PMIlango said...Exceeded the hour correction; into day correction..6133 6142 ... is 50%-61.8% retrace of the last fall from …… 6172 to 609480% is - 6156 If weakness is to return, it should be around 6133 6142 Strength gets confirmed above 6142 OR 6156 Ilango said...7125 7136 ... is 50%-61.8% retrace of the last fall from …… 7172 to 7078.1580% is - 7153 If weakness is to return, it should be around 7125 7136 Strength gets confirmed above 7136 OR 7153
@ Bharat: TISCO pattern T1: was 468, did 463.75 today morn... If entered @ b.o @ 432 ysday, guess can part book here & hold rest with 34EMA,30min (437.5) as TSL for T2 (525)
108 9Is gainining in importance2 meeting lines of last 2 days played out and ended there today has just overshot and bounced back till now
@ Prabhanshu and Shriram : Just look at the monthly chart of tisco and you will get three white soldiers....
@ Manish... then thats a probable indication that the i-HnS is valid.. however, it also suggest that after May'14.. TISCO may go sideways for a bit ?So makes sense to make plans to part-book & trail / sell out near T2, i guess ?
thank u sir, actually abc over at 7078 was also discussed so i was thinking of flat possiblitytoo
@ Piyush Sharda,Truncated "c" was discussed to have ended at 7081. Only a price move past 80%, 7153 would have confirmed it.We also discussed the "time factor" with a bounce and then another fall.============================================Ilango said...Corrected numbers:================@ Hemanth,There is a 3rd wave unfolding; within which the sub-wave 1 may have been done with a 533 points rise and the 2nd wave correction is on, the shape, time & form is not known yet.We have kept 6931 as the first warning sign.For the fall from 7172 to 7078, an abc(3) wave is unfolding upwards(7125-36 res and invalidation above 7155) after which another fall would unfold to complete "one part of the correction to be followed by another corrective upmove and then another corrective down and then a sharp rise.There could be a few changes if market decides to change course...May 14, 2014 at 9:44 AM
Ilango sir,Would you recommend to raise the filters (adjusted to 0.4% to 0.8%) for high-low ema's on different timeframes for entry - re-entry - part booking trades .1. Hour TF : 10 to 15 points2. Day TF : 25 to 30 points.3. Week TF : 50 to 60 points.4. Month TF : 100 to 120 points.
yes sir, yesterday there was a leaning towards correction (61.8% /80% of 7172-7078) from day before yesterday possiblity of a 3 wave ended at 7078.so kept my intra sell in 2 parts one at 80% other 100%. shud have done both at 80%
smelling a 40-50pt fall now... below 7100NS
Shriam and Prabhanshu - Please alert us again when you think we can enter TISCO. Appreciate your help and the good work. Any failure will not be attributed to you.
NS latest Day Low @ 7097.05.
7087 is support on T/L of last 2 days lows7067 and 7081Sir a contracting triangle developing in nifty and BN charts and thats a continuation patternsir plz post ur views based on EW analysis
GOOD MORNING MASTER N BLOG MATES@SHRIRAM--any symmetrical triangle forming in HR CHARTS?thank yuits usual fr nifty to go down n get rid of longs -before it actually goes up..MORE OR LESS LIKE A CHEETAH kneeling n crawling before it lunges n plunges ..
7072 and 14130 is 34ema in ns and BN 30min chartsthey may lend some support
Pre-Mkt's Resistances to supports almost done..
Hi Durga: how bout simple ZZ in play, suspect "c" down seeking 96 pts from 7152 ??
New Post Done.
SirHow can we confirm end of C?