Master -- If this is Red b, then we can have a retest of 7585 once again to finish the correction??
"a vicious cycle is set up. Funds are obtained from abroad; an NGO is set up; a few articles are commissioned; a PR firm is recruited and, slowly, with the help of the media, an image is created. And then awards are procured from foreign countries to enhance this image. Such a vicious cycle, a network of finance-activity-award is set up and, once they have secured an award, no one in Hindustan dares raise a finger, no matter how many the failings of the awardee.”Quote from report on NGO by Intelligence Bureau
@ Prabhanshu Raman,Marina s rao's method is helping keep track of 'modes' in two t/f.Waiting for elaboration
@Master... Somehow the impulse for iii is missing it seems. still the move looks more like corrective...
Either FMCG stocks will lead the next rally or its time to get into defensives, based on high volumes: http://www.niftytrader.in/nse-stocks-volume/
SirDont we still watch the retrace for the fall from 7700 to 7590 as 80% at 7678 has not yet crossed?
@Shriram Sir,-WW seen in Nifty?
@ Guru Krishnan,Since it is a flat correction, the trading range is could be more than 80% or even 100% on the upside and roughly 7579-89 on the downside.There are other possibilities too in contention; hence, too much noise in hour T/F.As long as prices stay above 7630, aggressively long.
@ Harsh Mehta,Often market does not reveal itself obviously. At such times, watch the price clusters..holding or being surpassed..
@ cooldent ,80% is breached; If it is a flat correction, it does not matter.If it is the most bullish scenario, the retrace at 7638-46 must hold...
Good morng Ilango Sir, Kindly any view on ITC long time in the range to 330 to 340.Thanks
@Crorepathi...I run a one-man show NGO which feeds the homeless in Mumbai....Could do with some funds from abroad....Dont care much for awards......:):)...Hope IB is eavesdropping...:):)
@Ilango Sir,Do you see a bear flag in Nifty 5 min?
@ Sonu,Two views:Corrections completed at 7613(breaking the channel a bit as in "iv"th wave) and a 5 wave completed from 7613 to 7679 and a correction is unfolding. Holding 7638-46, next set of 5 waves would unfold; gets negated below 7625.Corrective rise for the fall from 7700 to 7589 completed at 7679 and the next round of fall is unfolding.
--> back@ Sonu: the intra 2mins -WW has almsot achvd its tgt.. OI is bullish as of now... real tradable setup will be on 30mins close < 7600.. or one dip to 7600 NS to enter Longs for 7700 till then no Hi-prob R:R trade is visible
Master,Can. u pls teach us on how to differently see RSI , SSTO in a Corrective phase ?
@masteryou gave the first view negation point..but what is the 2nd point negation point?? as b can retrace to any value...or just holding of 80% of all rise is the key point?thanks.
http://www.youtube.com/watch?v=C9_2O2fPU7Y&feature=youtu.be&hd=1 one video by rohit shrivastav on elliott count of nifty
Thanks Ilango Sir and Shriram Sir.RSI back in OB zone and bullish OI, so I suppose the first view is preferred one.
master it seems a flat correction may end at 7629 then resume the journey above
@ shriram,Yesterday the 9 hour Rsi gave away the early bullishness.9 period Rsi is quite consistent and reliable at extreme points.SSTO-I have a lot to state; and kept pending.
@masterif time permit, please tell yesterday's question about SL for slow macd based trade in hrly time-frame.thanks.
weekly open was 7621.61. Will it be Doji . or upside from here? weekly candle pattern at end of week.
Master what is point of view regarding DI crossings and ADX as technical indicators in hrly and higher time frames.
Tks Master :-)
New Post Done.
@Ilango Sir,2nd view preferred now for more bearishness?
sir jee rise from 7594 to 7673 is negated more than 80% at 7610 so fall may continue di crossed in ADX indicator?
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