CONTRACTING TRIANGLE SCENARIO:-
A= 3648 - 2253 = 1395points
B= 2253 - 3240 = 987points
C= 3240 - 2503 = 737points
D= 2503 + 456 =2959
Or 2503 + 590 =3093..(We are nearly there..!!)
E= .....- .... =......(Likely to be near 2700-2750 area)
Monday, December 15, 2008
Nifty's Triangle possibility..?
Highly respected EW analyst Mr.Vivek Patil has this triangle possibility for Market and this goes with the other 4th wave possibility too.In simple terms , Nifty has been trading in channels and the channel length has been diminishing at each subsequent move.(A Contracting triangle).Once this upmove ends("D" leg)(Has it ended..?),this channel gets broken and the next move down("E" leg)may end higher than 2570 and then if Nifty is able to retrace that "E" leg in faster time, then you will have a sustainable rally.(Same triangle possibility is talked about for US markets...we'll monitor this view progressively)
CONTRACTING TRIANGLE SCENARIO:-
A= 3648 - 2253 = 1395points
B= 2253 - 3240 = 987points
C= 3240 - 2503 = 737points
D= 2503 + 456 =2959
Or 2503 + 590 =3093..(We are nearly there..!!)
E= .....- .... =......(Likely to be near 2700-2750 area)
CONTRACTING TRIANGLE SCENARIO:-
A= 3648 - 2253 = 1395points
B= 2253 - 3240 = 987points
C= 3240 - 2503 = 737points
D= 2503 + 456 =2959
Or 2503 + 590 =3093..(We are nearly there..!!)
E= .....- .... =......(Likely to be near 2700-2750 area)
Elliot's Impulse waves.(Part-5)
IMPULSE WAVES :- The Basics Waves that move the market in the direction of its main trend either up or down are called Impulse waves. 1....
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5010-5039 supply zone proved a ST resistance. 5002 proved a break down point. 4945 to 4982 proved a corrective rise, monitored with an ... -
I 'll always be there for you. To make you feel that you're secured. And even if the rain is pouring hard and the sky is almost dark... -
Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor...
1 comment:
2750 indeed is the starting point b/w this tussle b/w the bulls and the bears.
for a unrestrained upmove, the bulls will have to atleast come down to 2750, so as to let the bears exit peacefully.
on the other side, it could be that the bulls may turn out predominant in this move...
looking to build secretive shorts at every rally up (starting from 2750 levels), so as to build the momentum required to take the markets lower from 2570-2750 levels.
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