A small bullish WW may develop in ns chartspossibly may once dip below 7487-81 ns range near 1.00pm and then may move up for a HH abv 7537 near 2.15pmconsidering today if nifty tade in 100pt range then may move up towards 7581-87 probably be4 eod
ns near res of 7514ns...if dip towards 7487 has to come may come from here
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
hopefully from days low 1,2 done and 3rd about to start...confirm by macd or by price 7521..in 5min chart?
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 :15083Dev DHEMA :15399HH EMA : 15444HLEMA : 15333.
@ 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 ?
@DRjibahot lunch kar liya....aa jao...ek aur double century ho jay...missing you "here" in JN.
@ 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 !
@anm koshish jaari haihttp://www.planetradiocity.com/home/images/mr_events_gallery/katrina-kaif-army-7_8162011165991.jpg
Dear sir,for me it looks like ABC from may 16th low.now 4th of C leg is running.how do you view it.
bullish ww is developing in channel pattern nowstiff resistance of upper T/L at 7522 ns cmp
Sir,pls read it as abc of B wave.
C=A tgt for this rise is 7578 NS ... wud be a gr8 pt to sell , wid 20pts SL ?
@ 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 ....
@shriramwhat is the negation price of -ww pattern in BN?thanks. i dont know anything about ww patterns!!
@DRji,That proves that u were never away from here.Your silence is also valuable.
@ 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 !
@ 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
@Shriram Sir,Where is the probable position on BN -WW point 5?
@ 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.
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
@ Chetna - Any views about RCom ? Not flying at all :-(
@ Raman Kapoor ,It was a clear 3. You can see it in the google chart.
DR.SGM I AGREE with u this looks abc B WAVE like jan1st 6355 top below 6359 A TOP
@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
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.
@ 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.
big fall be4 eod? 7400 looks possible
@ Chetna - Ok. But what would be the stoploss in that case?
-->. 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
Thanks Ilango sir on the new learning. Will explore more on this from a historical perspective.
though RCOM gave good intra long today,, i prompted about the corrective done..
@bharat, for intra day it was 147 and now for positional it is the retracement of rally from 148.10
@Shriram Sir,Thanks for clarification. But with good base building at Nifty 7500PE (10lacs addition intraday), can this -WW trigger today?
New Post Done.
Nifty making a "Evening Star" pattern