The 17 point decline in the closing prices does not "tell" the choppy story that unfolded today....
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| EOD technicals prevailed; intraday rise became unsustainable. |
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| Prices took support at this trendline, rallied 250 points but could not sustain, suggesting weakness ahead.. |
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| This chart stated "Below 7711-26", weakness remains yesterday; and it remained weak... |
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13 comments:
Your comments were very very useful today sir. God bless. also hats off to shriram sir, stock4sure, stbstb and some other seniors who are regularly posting comments here, they are very valuable to learner like me.
What a day. ..and top of that I was calm...drastic change in self from election results day to today. All cz of this blog.
Thank you.
Now who says retracement strategy doesnt work.
Retrace from 7479-7573... it worked
Retrace from 7809-7479... it worked
Infact Sree's trade at 7518 (61.8 of 7442 7593), worked and made high till 7809.
Now why you guys are not coming back and admit that they worked.
@ Prabhanshu - Your view about RCom pls!
Bharat, Rcom bechara marr gaya hai.... duniya idhar se udhar ho gayi but ye gire jaa rahe hain...
What I can say is it might not go below 113.60 and correction going on. You can go long keeping sl at 113.50
113.60 is start of wave 3.
Wave (i) 113.60 157 aprx
Wave (ii) 157 xxxx going on. Its low till now is 123 which is less than 61.8 retrace of wave (i)
dear friends,
a whipsaw of SAR been dealt here, kindly share your inputs on chart.
https://docs.google.com/spreadsheets/d/1dESqVIu1qLjYFCRiF6nESimLZXLgL03-9PAX1cLCvFI/edit?pli=1#gid=0
thanks
@ Prabhanshu - Lol. Thanks! :-)
After good move in idfc, -ww pattern triggered at 157.70 in 60 mins. Tgts 146 and 127... 1-4 line tgt is at 120.
But if see its chart, ew wise its in 3rd sub wave.
Shri, need your input.
Hi prabanshu, What is this -ww pattern. Please explain. Learning Nifty trend.
Thanks
Namaste Ilango Sir & Blogmates,
Bearish: The Union Budget saw the index gyrate in a huge range of 252 points only to close weak with the CE writers in control as PCR-OI is at 0.773..: Option Analysis for 10-07-2014
Dedicated Option Open Interest Blog
Duplicated at Wordpress Site
Thanks & Regards,
Sanjay Kr Jaiswal
Prabhanshu, IDFC , -WW triggered, 2-4 line target we know but how to derive another target 146 and 127 ?,pl. light on this querry.
jai bhole
good night sir & friends
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