Positional can continue to hold with a SL below 4340.
As discussed earlier, US $ Index heading down for the 5th wave while equity markets are moving up for the 5th or "C" up as a terminal in this uptrend.
Tuesday, July 21, 2009
Nifty's moves ahead
If we look for a=c, then the target comes at 4589. There are resistances in the zone of 4525 - 4595. A correction is due which can take a maximum down to 4350..or 4410.
Positional can continue to hold with a SL below 4340.
As discussed earlier, US $ Index heading down for the 5th wave while equity markets are moving up for the 5th or "C" up as a terminal in this uptrend.
Positional can continue to hold with a SL below 4340.
As discussed earlier, US $ Index heading down for the 5th wave while equity markets are moving up for the 5th or "C" up as a terminal in this uptrend.
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...
4 comments:
It's happy to c your morning post...including the msg of market may correct upto 4350-4410... donno wat to do at this stage sitting on fence...
Nowadays this is also a habit, checking your blog often whether u hv posted any morning views..or not?
Thanks for spending your valuable time..for your blog visitors..
Illango, Intrestingly, when the $ index falls, the FIIs will run for cover selling out their emerging market assets. So if there is a panic in Currency, will it not push Stocks down too ??
plus, this dollar and equity correlation has been perfect so far..every time dollar falls, equities give a good rise....but I think this 1 to 1 correlation is due to fail sometime...maybe that time is now? :)
Hi..Sujatha,
If you have missed to enter into a trending mkt, look for corrections day and start getting back. The larger trend has to be on your side for "Less-tension" trades.
When corrections are on, trade light or watch for perfect levels to enter. In a trending mkt, level entry is secondary as having a position is primary factor.
Hi..JK & Rishi,
I really do not understand currencies much but I get some mails from reputed analysts who are highlighting this currency co-relations supported by these charts. Convincing sofar. However, these will only assist us in arriving at a trading decisions after price, TA & EW considerations.
People have forgotten about Volatility index for a while. Fixation on anyone indicator is bound to get us into trouble. However, a glance at them regularly will give us a comprehensive picture. "SS"(http://timamo.blogspot.com)has been posting "Market Internals" regularly and their usefulness can be appreciated only if you follow them regularly.
Best regards.
ilango
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