Prabhu.. above 7910-7915 more upside possible ?
Or we can say that is s.loss for short position too ?
brij, as sir mentioned - 2 possibilities:- B done at 7972- B unfolding as abc wherein a done at 7972, (a) of b at 7854 and currently (b) is unfolding and retracing the last fall. Post that (c) may unfold in downward direction.- If extended wave from 7540 is unfolding as 7816-7972 as (i), then (ii) is unfolding now in abc. Prices gng below 7816 will negate this possibility?In all above scenarios, direction is down once last fall retrace is completed.At 7810, +ww may form and trigger but not sure whether it will be high probable or not.
Thanks Prabhu..from last days volatile with in range market..so below 7810 we can get trending market..
@Prabhanshu, Is it not possible that b of abc may have finished at 7854 which is close to 80% of the fall from 7972?
Dear Ilango Sir & Blogmates,OI Table Update at 11:00AM, Pivot-7974, S1-7939, S2-7887, VWAP-7906Exact opposite of yesterday, 8000 is again back to being a huge resistance for the day, Support best around 7800, Weak till it stays below 7939NF…Thanks & Regards
@Raman,when it comes to abc....generally I get confused. Why I mentioned that b still unfolding:- fall from 7972-7854 => 5 waves. Can't see it in 3 waves. But I may be wrong.- see the price action from last 1+ hr......it resembles b...
Prabhanshu Raman said...Probable +ww in Dow Jones hourly chart: http://prntscr.com/4ukoc9Guys need your views as well....
PCR up but only bcoz of writing in 7700PEs. Not sure what to interpret from that.http://www.niftytrader.in/nifty-live-change-in-oi/
Prabhu... For dow hourly chart ...which i have data sharing here..Dow closing below Daily..weekly...low ema .. taking monthly low ema support as well as daily 200 ema near support.Last three days volatile mkt in US... dow never cross Day high ema..Mean every rise selling is coming..
In the same reverse..Gold made 1180 very very good support ..now @ 1225Gold SAR now in buying .. After long sell of from months..
@sonu doesnt oi table indicating ranged trading 7800-8000
@gs, I think it suggests of a range between 7800 and 8100.What puzzles me is why are 7700 PE much more aggressive compared to 7800PE writers. It is unlike earlier corrections during this uptrend.
Yesterday I mentioned that this upmove will be more credible if it cross PCR of 1.04. It didn't and today we have a gap-down.Strangely, today PCR has climbed above 1.04 but now there isn't aggressive writing happening on 7800.So these are the mixed clues for me.
"U" reversal on intraday charts if nifty spot crosses 7925 lets see
@Sonu, Maybe there is buying in 7700PE option
New Post Done.