Thursday, October 9, 2014

Prices, on making a falling wedge, has paused with a total green in Day T/F...


9 comments:

Prabhanshu Raman said...

Sir, i am slight confused with abc.
If 8180-7815 is A in 3 waves abc, then B can retrace any percentage of this fall.
Is this correct?

Ilango said...

@ Prabhanshu Raman ,

Yes..

And that should satisfy "Diwali Damaka"...

to be followed by a deeper correction to complete the weekly weakness as shown in wk.s.macd.

Just keep this at the back of your mind while following the day-to-day prices.

"Most critical pattern" to watch out for in the coming 8 days would be:

whether the rise is of a corrective "B" wave.. OR

Is it showing impulsive characteristics for the last rise from 7540 to "extend"..

"8 Trading days to Diwali"...

Holding onto 50dsma, the trend would continue..

Raman Kapoor said...

Sir, Can 'c' wave be of abc pattern. I thought 'c' wave can only be 5 waves.
Thanks

Prabhanshu Raman said...

Thank You Sir. :-))

@Raman, 'c' can be of abc pattern wherein c should be of 5 waves. So abc cud be:
5-3-5, 3-3-5

vksoni said...

ilango sir namastey,
sir in nifty Ta file in day ohlc sheet today's high 7972 become yellow cell. how to understand this?
earlier 8031 also yellow.i mean is it something two day high?

shreya puneeth said...

looks like nifty GAP down tomorrow about 100 points

Prabhanshu Raman said...

Probable +ww in Dow Jones hourly chart:

http://prntscr.com/4ukoc9

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