Friday, June 6, 2014

Nifty Intraday Update-II


40 comments:

STOCK4SURE said...

A small bullish WW may develop in ns charts
possibly may once dip below 7487-81 ns range near 1.00pm and then may move up for a HH abv 7537 near 2.15pm
considering today if nifty tade in 100pt range then may move up towards 7581-87 probably be4 eod

STOCK4SURE said...

ns near res of 7514ns...if dip towards 7487 has to come may come from here

Ilango said...

7516 7520 ... is 50%-61.8% retrace of the last fall from …… 7533 to 7498

80% is - 7526

If weakness is to return, it should be around 7516 7520

Strength gets confirmed above 7520 OR 7526

anmpatel said...

hopefully from days low 1,2 done and 3rd about to start...confirm by macd or by price 7521..in 5min chart?

Raghavendra said...

BN did a test of the breakout at 15420 and now consolidating.

As of 12 PM closing - BN TT turns all green and as anticiapted ICICI Bank Leads the charge now.

Key numbers for remainder of sessions and day :
Dev WHEMA :15083
Dev DHEMA :15399
HH EMA : 15444
HLEMA : 15333.

Raghavendra said...

@ Shriram,

The nested I-II - 1-2- i-ii mentioned by ilango sir - Is this called as the "point of recognition" as oftenly called by Prechter ?

anmpatel said...

@DRji
bahot lunch kar liya....aa jao...ek aur double century ho jay...missing you "here" in JN.

shriram said...

@ Ragha : yes, 100% right.

Only, it is v v difficult to identify if this rise is Impulsive 3.iii or part 3.ii (of a WXY) ....

OTM CE guys r acting stubborn, as on NOW & BN may be forming a Bearish reversal pattern on hr TA !


Dinesh Rishi said...

@anm

koshish jaari hai

http://www.planetradiocity.com/home/images/mr_events_gallery/katrina-kaif-army-7_8162011165991.jpg

DR.SGM said...

Dear sir,for me it looks like ABC from may 16th low.now 4th of C leg is running.how do you view it.

STOCK4SURE said...

bullish ww is developing in channel pattern now

stiff resistance of upper T/L at 7522 ns cmp

DR.SGM said...

Sir,pls read it as abc of B wave.

shriram said...

C=A tgt for this rise is 7578 NS ... wud be a gr8 pt to sell , wid 20pts SL ?

gauresh59 said...

@ DR Sir,

Aapne hi shikhaya hai .....

लहरों से डर कर नौका पार नहीं होती,
कोशिश करने वालों की कभी हार नहीं होती।..........

Very much glad to see you here ....

anmpatel said...

@shriram
what is the negation price of -ww pattern in BN?
thanks. i dont know anything about ww patterns!!

anmpatel said...

@DRJI

ha..ha..ha...ha...

wellcome back....

SJkolkata said...

@DRji,
That proves that u were never away from here.
Your silence is also valuable.

shriram said...

@ ANMP:

post 1-3-5 trigger, if price whips the 1-3-5 line, then the pattern is considered invalid.
(Though now days , 1 time whip is commonly seen )

Time for Sappad, Bon Appetit !

Ilango said...

@ DR.SGM,

I have stated that possibility yesterday. But remember the direction-both are "UP".

===============================================================
Aly said...
Dear Sir,

Is it possible that we may a bit longer consolidation period... similar to what happened in December & Jan this year.
June 5, 2014 at 2:56 PM

Ilango said...
@ Aly,

Quite relevant. Until prices move past 7564 by a good %, correction could continue in one of many forms - flat, combinations, running kind, etc..

We are following sub-waves minutely for "intraday trading purposes". With huge spreads on most days, this works out well.
June 5, 2014 at 3:01 PM

Sonu said...

@Shriram Sir,

Where is the probable position on BN -WW point 5?

gauresh59 said...

@ SJkolkata,

Teacher (guru) is an unseen element....whether he takes any physical gross body or not, that is immaterial. Aklavya learned from the statue of Guru Drawna.
Even in silence He exists, provided, one has capacity to become a student.

SJkolkata said...

Gauresh,

JAI HO.......

Raman Kapoor said...

Dear Sir,

If I remember currently was the fall from 7564 to 7131 on 16th May was in 3 waves and not 5? Could you please confirm this when you have time.

Thanks

Bharat Kumar said...

@ Chetna - Any views about RCom ? Not flying at all :-(

Ilango said...

@ Raman Kapoor ,

It was a clear 3. You can see it in the google chart.

intraday trader said...

DR.SGM I AGREE with u this looks abc B WAVE like jan1st 6355 top below 6359 A TOP

Chetna Jethi said...

@Bharat, patience holds the key...i am little surprised..though it has risen consistently in last 2 weeks..not flying.. yes, surprising..lets keep trailing

Raghavendra said...

Dear Ilango sir,

Last week's candle was a "Bearish Engulfing candle" and this weeks developing candle stick is a "Bullish piercing line".

From a candlestick study perspective - does the bullish piercing candlestick pattern of this week show its effect next week as the position is not apt at the top..

Request your view.

Ilango said...

@ Raghavendra ,

Last week's bearish engulfing was not a classical one as the body of the previous candle was small.

Besides, during strong uptrend, weak bears "sell" & with part booking, a week generates a "down" candle. But the bulls assert and prices makes a new high. At home, we call it "White sandwich" and is usually followed by a "UP" candle next week.

intraday trader said...

big fall be4 eod? 7400 looks possible

Bharat Kumar said...

@ Chetna - Ok. But what would be the stoploss in that case?

shriram said...

-->. back

@ Sonu: BN will have to trade > 15,600 to form pt 5 & then Brk down below the 1-3-5 (ascending line) somewhere near 15,610-30 BNS ruffly to trigger the -WW

Raghavendra said...

Thanks Ilango sir on the new learning. Will explore more on this from a historical perspective.

Chetna Jethi said...

though RCOM gave good intra long today,, i prompted about the corrective done..

Chetna Jethi said...

@bharat, for intra day it was 147 and now for positional it is the retracement of rally from 148.10

Sonu said...

@Shriram Sir,

Thanks for clarification. But with good base building at Nifty 7500PE (10lacs addition intraday), can this -WW trigger today?

Ilango said...

New Post Done.

Shiv Kumar P P said...

Nifty making a "Evening Star" pattern

Shiv Kumar P P said...

Nifty making a "Evening Star" pattern

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