Alternatively, Nifty can continue its pause for one more day by trading in the same zone and then head higher.
"SS"'s Internals suggests continued strength.
At 9.50AM:The Parallel channel(Pink) resistance comes @ 4550.
Wednesday, July 22, 2009
Nifty's moves ahead..
Preferred:Let us assume that "a first break" of the channel be treated as completion of 4th wave and a "5th" wave to unfold today to take Nifty higher. Remember, also, that once the 5th wave completes (4600 or higher), we will head lower towards yesterday's lows in an "abc" correction.
Alternatively, Nifty can continue its pause for one more day by trading in the same zone and then head higher.
"SS"'s Internals suggests continued strength.
At 9.50AM:The Parallel channel(Pink) resistance comes @ 4550.
Alternatively, Nifty can continue its pause for one more day by trading in the same zone and then head higher.
"SS"'s Internals suggests continued strength.
At 9.50AM:The Parallel channel(Pink) resistance comes @ 4550.
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...
8 comments:
Thank u...
sir...your inputs during market hours are very helpful..
nifty is again being stretched w/o sufficient consolidation...the -ve divergence is visible on 5 day charts...and dollar index is almost near its 2009 lows...can s&p have 8th consective gain today ??its getting poised nicely for the expiry
Really your morning inputs are very helpful sir..
Really wonder how u r doing this price behaviour job without any emotion? and detachment...
Frankly i agree i don't have good mindset... not able to digest this upmove... yesterday took some profit of 50 points... now waiting for your levels..to short... not trading any long position..
Hello sir,
how are you, i would like to point somthing out,
the banking sector and some stock have made a new low even after the octobers low, can u please find the difference in the pattern while taking nifty into account.
Hi..Sujatha,
Channel resistance breached briefly, now falling strongly..towards 4435..!!Now the Hourly channel too broken..
Combine the levels with Yahoo intra charts..
Trading is tough..for everyone. But if you maintain your own set of rules based on your experience, you can do well..
Best regards.
ilango
Hi..Shaq,
S&P is "OB" with -ve div..Should start to correct suitably.
Hi Yashrath Nathani,
Banking stocks were strong and fell later and they made a new low in Mar.09. Hence, I start my EW counts from Mar.09 lows.
I still feel after a correction to 4350-4300 area, we will head higher(as long as Weekly is in up mode).
Best regards.
ilango
Waited for your resistance 4550... shorted and benifitted.
covered littile loss... and noted your 4300/50 area...
Regards
Hi..Sujatha,
This "4550" flashed to me in the morning as another parallel channel possibility. We can't rest with a simple analysis. market has many ideas..Had to keep figuring it out...
Sometimes, we get it..other times..miss it.
Right now, the "Hourly sell is on". Closing below 4456 will turn the daily momentum down...
Best regards.
ilango
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