Friday, July 25, 2014

Nifty Intraday Update-I


27 comments:

Ilango said...

A 5 from 7773 completed;

-ve div in Hour T/F persisting..

Watch out for 61.8% & 80% at 7799 & 7787 for more weakness or continuing strength....

Unknown said...

Sir, is the CURRENT CHART posted by you a ""MEGAPHONE"" formation ???? indicating a Higher high ???

Guru Krish (Trading Nirvana) said...

@Master -- : ) : ) now 61.8 golden ratio on work ?? hope it does again :)

Raman Kapoor said...

Dear Sir,

Would you still consider the possibility of the current rise from 7422 as part of an irregular flat since the fall from 7809 to 7422 was 3 waves.

Thanks

Unknown said...

Sir, any view on Cairn India?

Guru Krish (Trading Nirvana) said...

@Prabhanshu --- Looks like your 15min -ww min target done :) kewl!!

Ilango said...

@ Guru Krish (Trading Nirvana) ,

This golden ratio could fail due to the reasons listed above. And it fails when prices break 7786.

Prabhanshu Raman said...

-ww has formed in nifty 15 mins chart. It will trigger with a close below 1-3-5 line aprx 7815 for 2 15 mins. 1-4 tgt line comes near 7750. Min tgt is 7798.
Please note that 1-3-5 may act as support line as well.

http://prntscr.com/45ugt9

Min tgt is done...need to see whether 1-4 line tgt can meet or not. Now SL will be 15 min close above 7816-18

Ilango said...

@ Unknown,

Cairn, after completing a 5-wave upmove from yr 2008, from 88 to 401 is undergoing a major "Flat correction:

A: 401 to 268
B: 268 to 386
C: 386 to unfolding....

Ilango said...

A 5 done from 7841 to 7788:

7815 7821 ... is 50%-61.8% retrace of the last fall from …… 7841 to 7788

80% is - 7830

If weakness is to return, it should be around 7815 7821

Strength gets confirmed above 7821 OR 7830

Guru Krish (Trading Nirvana) said...

@Master - what is the indicative value of IV in the first chart above ??

Ilango said...

@ Guru Krish (Trading Nirvana) ,

(iv)th was 7773 & (v)th done at 7841.

OR

(iv)th is being done and the break of channel would complete the (iv)th around 7735-45 and another new high to complete the (v)th...

Guru Krish (Trading Nirvana) said...

@Thanks Master -- I was with your second view ... hence this doubt.

vksoni said...

7820 (probable whema +60 of next week) is tough resisstance now.

Prabhanshu Raman said...

Sir, 80% gone...waves subdividing?? After 5 waves done at 7788... was able to retrace till 38% only

Ilango said...

For the corrective"abc" for the 5-wave fall, "a" done, irregular"b" done and "c" is unfolding....

Watch out for "truncation" as irregular suggests of "weakness"..

herry said...

VERRY GOOD LEVAL SIR...THANKS..

Rajesh Singh said...

Ilangoji,
Do you track JP Associates. Will it be possible to give an idea on long term count of this counter

Ilango said...

@ Rajesh Singh,

JP Associate is undergoing a correction for the last rise from 36.50 to 89.90.

It's 61.8% retrace is at 56.90 and 80% at 47.20.

Breaking 58.00 would suggest either:

the rise from 36.50 to 89.90 is 3.1 and present correction is 3.2 and it should restrict itself to 47.00, preferably 55.

OR

the rise is corrective from 28.35 as a 3 wave: 28-58-36.5-89.90.

Ilango said...

Holding onto 80%-7786. (How long...?)

"b", irregular got extended..as "abcde" and "c" unfolding now !!!

Rajesh Singh said...

Ilangoji,
As per my understanding...
It looks like this sub wave is forming triangle making this whole down leg as corrective..After this triangle one more leg down to to about 50 points and then up move will start. Again we may see new high then..

Rajesh Singh said...

Ilangoji,
Thanks much for helping on JP Asso

Guru Krish (Trading Nirvana) said...

@Master - Super, so now the retrace would mean many things...thanks :)

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