Goodmorning Sir. can we count the current wave in Cairns from 305,which was fridays low and calculate from 305 Sir?????
Good Morning Sir and Friends...
Master - Can this be seen as Corrective a finished, and b is going on...then one more up to finish c of corrective B and then C to start ?? -- all this with assumption of red v completed.???
Dear Sir,NS closed below 21 HrSma (7788) at 7786Now a close below 34 HrSma (7767) will take it down till 7735 ?
Reliance 10SMA@ 1009. sir if reliance holds fridays low, we cud see sum fast setups sir
@ Master,In Trend Indicator Nifty-Day & S.Macd chart16 & 17 July 2014 Thick Red and Green arrow marked18, 21, 22 July 2014 Thin Red and Thick Green arrow markedwhen/ which scenario we can mark it as Thin and Thick?
@ Guru Krish (Trading Nirvana),Holding 7762 or 7768 would keep the "v"th wave possibility; if not, it gets postponed as indicated by you.There is another possibility that 7422 to 7841 is a corrective "a" and the current fall is "b" wave.
@ Master - Thank you .. Got it..
@ krish pm,16 & 17 July 2014 Thick Red and Green arrow marked- 16th S.Macd turned up below the trigger and prices closed above 12 dema after being down for few days - a counter bull move- an equal weightage.-17th it persists.18, 21, 22 July 2014 Thin Red and Thick Green arrow marked-18th - Stale mate continues for the 3rd day; hence, bearishness decreasing.-21st-Prices sustaining above 12 dema and macd close to triggering up..-22nd-macd triggers but a follow up is needed; hence, the red remains.I did not answer to you earlier because this is not some mechanical set up that you have certain parameters and it works all the time.Understand the market undercurrents using this as well as other tools to know the subtle change in direction and trade those directions if it suits your time frame.EW helps a lot in this matter; however, at certain junctures, EW throws up more than 2 scenarios during which once should stick to the preferred view or stay out till clarity emerges with lesser possibilities, thereby, protecting your capital to employ it successfully when a good trade set up with just 1 or 2 scenarios open up with a tilt towards a particular direction.More exposure, more trading would instill in you a confidence to find the 'all important direction of the market".
Good Morning Sir and JN Team !!Sir , I naive doubt , "There is another possibility that 7422 to 7841 is a corrective "a" and the current fall is "b" wave."The fall from 7809 to 7422 can be considered as "a" and 7422 - 7841 rise as 'b" , When we are saying the rise from 7422 to 7841 as corrective 'a' you mean to say corrective 'a" of B and so on ...? Else "b" wave only surpasses the previous high or low .
Thank you Master
Is anyone of the view here that RELIANCE has done a Double Bottom ?????
at 1007 Spot
@ Num Char,When you start to see more than two possibilities in week T/F, it is time to understand that strong tussle is on. Now, we look at the rise from 7422 to 7841 and its retracements to know who comes out stronger..Your reading is quite proper.
@Master, it appears that now (v) remaining as a preferred option has been discarded.Or holding 7734/17 that option preference still exists?
@ Okay,It is almost invalid. Day channel support around 7730 holds a faint chance.As we had marked in EOD lead indicator chart, Above "7795-7806", strength remains.Prices moved into that zone at "7800" and the weakness has returned..
A 5 wave done from 7800 to 7746.
as long as 7746 holds...
sir,below 7750 nifty there will be H&S breakdown possibility in 30 min chart with target of 7660.is this a fair assumption ?
Bear flag got activated below 7748 with sl at 7762... t1 7720 and t2 7650
Sir your views on Cairns please
@ money,7750 acted as a res. during the upmove from 7422 to 7841 and the same is acting as a support presently.H&S pattern is visible. Your view is as per the pattern implications.
Now here is the confusion. In given 5 min chart, I can see hns, bear flag and +ww.+ww tgt is 7810 (1-4line)http://prntscr.com/472jnr
New Post Done.