Day Low : 7246.00 Day High : 7287.15 Range : 41 Points Day Pivot : 7281 Hour Pivot : 7263NS well above HKN ( Hepta Kilo Number ). Currently hovering around @ 7265.Day Pivot's Resistance1 cluster @ 7305-23 stopping NS's further rise.NS continuing since last 7 Hours in SOR mode. Strength above Hr. Ema @ 7268 & Hr. JNSAR @ 7272.Above Hr Hema @ 7291 NS changes mode into BAH.SOR = Sell On RiseBAH = Buy And HoldHepta Kilo Number = 7000
Good Morning Sir and JN Team !!Sir , If we consider we did a first A down on 16th which took approx 5 hours , is there any time relation for B how much time it may take , or it can take what ever time it feels like ?Another questions on similar lines ...when we will know B is done , when we see a new high followed by sharp 5 wave fall crossing 61.8 of the last rise or is there some other way to know that ?
7200PE and 7400CE seem to be marking range for the coming sessions.http://www.niftytrader.in/nifty/nifty-live-change-in-oi/
@ Num Char ,Whenever biog fall happens in a corrective "a" wave, "b" is likely to be time consuming. It is difficult to call the "end of b" as the number of forms it could take are many. It is also the phase, it brings the worst of a trader.Knowing these, trader should adopt to "intraday trading principles" and execute his/ her trades.This correction itself is unfolding after a sharp rise of 500 pts from 7085 in just three hours and the correction has almost done a price part, and doing its "time" part then on.
Sir,When you say "Correction has doe the price part", do you see that B is done near yesterday high (as labeled in charts too) as 1 possibility and pending C is a matter of time only? Or a 3rd leg of B is still pending (till the upper red "b" marked) as another possibility?
Thanks sir !! This is the phase which depletes my account , as am not good in intra trades trying to get knack of it , planning to sit aside till B happens , only worry is some time B is morphed with the impulse , in that case might miss a small move or I can just be with the trend .
@ Num Char,Staying with deliveries; picking up good stocks in corrections in this huge bull market is a better strategy.Keep 10-15% of capital for "Trading" and keep a 2-5 % of that for SL.
@ anand,"Price part is done" - Fall from 7564 to 7131 is almost the price part.Since then "time part" is being done. Hence, "C" may not see a new low. "may not".
dear ilango sir can given viwe idea scrip stock..
Thanks Sir...this will show me another form of corrective (Shape if not type) in real time....! Thanks to you for all this "exposure" training.
Prices retraced 50%-61.8% of last fall from day's high to low @ 6268.
IDEA: 5 waves completed from 129; consolidation on between "139 to 150".Weak below 137.
Namaste Sir and all, A small Bullish WW formed in tatamotors Futures 5min chart. Breakout above 443.5 target - 446 Pattern is likely to fail below 442.
Breakout On rcom stock
Master,Do u track MCX / Finan. Tech by any chance ?? some MT EW views is time permits pls :-)
watching some WW developing in ns 2 min chartssmaller WWmay have formed pt4 near 7265may form pt5 near 7254trgt near 7272-77 range (near 1.00pm)lows of 7254 can be pt4 of a larger bearish WW7272-77 range may be pt5 near 1.00pmtrgts near 7230 near eod or tomorrow opening
New Post Done.
@ Sir , GM ... A "B" up done and a flat "C" in the making ? Please comment ....