Monday, March 10, 2014

Nifty, uptrending, has corrections in "intraday hours"..

Nifty Intraday Update-III


Nifty Intraday Update-II


Nifty Intraday Update-I


Nifty Pre-Market View.

Corrections have been of either 41 or 75 points, min & max. Accordingly, if moves below 6498(6538-41), it is likely end around "6463-67".
Corrections , during uptrend, are opportunities to initiate trades.
Corrections happen when prices have deviated from the averages(mean) by a "mile"... while prices come down to meet the averages, the averages too rise upto meet them. And then, uptrend resumes..
EW: From 5119 to 6343, prices sub-divided into 5 sub-waves(refer EOD charts)-1st wave.
From 6343 to 5933, prices sub-divided into 3 sub-waves(Irregular flat-bullish)-2nd wave taking 65 trading days(approx).
From 5933, the 3rd wave has commenced which will sub-divide into 5 sub-waves. The "1"st wave is unfolding from 5933 and its sub-waves are being labeled in hour chart; (Labeling a sub-wave of a sub-wave is a challenging one-hence, take a step back now & then and allow itself to reveal.)
And whenever, this 1st wave gets completed, the "2"nd wave would take time "closer to election completion", roughly 40 trading days.
During this period, "retracing the last rise" levels should guide you and also keep this "Big.3"rd wave scenario in contention.
I will update the hour labels to understand the completion of 1st wave from 5933.
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