However, in reality markets bottom out much earlier than these signals. The experienced as well as an aggressive trader may take action at the oversold or overbought levels using other studies such as Elliott wave, trendlines, Supports & resistances, market profile.
How the Cooking was taught in the catering colleges and how it is actually done in the Star Hotels, there is a vast difference. Unfortunately the so called "Practical Classes don't show the "Practices" of the industry.
What we are doing here is "Applied Technical/EW". If you can follow these simple studies consistently, believing in them, you will find a "Stillness" descending on you and a "Clarity" emerging to follow the markets, listen to it, feel it. And you will then go on to make winning trades and Get Rich Slowly.
19 comments:
Good Evening Sir and Friends.
Range calculation for 22.10.10
VIX
N50 DN 11.37
N50 UP 27.6
N50 NC 41.34
VIX 1.15
Closing 6101.5
Vix Range-Nifty 70.17 (Closing x Nifty Vix)
Range 6031.33 6171.67 (closing+/-Vix Range)
LOW HIGH
N50 Driven Range6117.73 6159.07 6076.39
PIVOT HIGH LOW
So Vix barrier is 6171 and Support is 6031.
(Observe if any one side is broker leads to good accelaration - eg 6045 today).
Wave count for NF Friday
Go Short 6152 Stoploss 6158 Target 6061
Go Short 6117 Stoploss 6158 Target 6045
6152 - 6061
6061 - 6117
6117 - 6045
A-B-C Waves
Above 6158 Targets 6180 - 6220
Dear Seniors,
I understand the short term target for Nifty spot is
6243. I understand it is short at rallies till 6243
is not crossed convincingly...
Let us see....
Best regards,
CT
sir
can u explain howcan this turn into a Fast Rise ..
is it "b"
Good Show. Some over smart cooky lost his fishing rod. Hope you could do this consistently. Too many hawkers in front of the temple.
Hi dear sir Ilango,
plz sir tell me that in which level nifty turn so we
believe that " 5 wave " would be start ?
regards,
Alpesh
@Rajagopal,
can you pls explain what is
N50 DN 11.37
N50 UP 27.6
N50 NC 41.34
I could see the applicable volatility (1.15) but could not understand or find the above three items. It will be helpful if you could explain please.
Regards,
Veer
Following N50 exhibited higher volumes with Higher Tops and Bottoms.
ABB
BPCL
CIPLA
HEROHONDA
HINDALCO
HINDUNILVR
IDEA
LT
M&M
NATIONALUM
NTPC
ONGC
POWERGRID
RANBAXY
RELINFRA
RELCAPITAL
RCOM
RELIANCE
SBIN
SUZLON
TATAMOTORS
Though some remain in TA "Down" Status.
Veer - nothing much. Just cumulative VIX of N50 scripts TA'ed to go Down or Up or Not Clear. You will find in the TA file uploaded.(individual values from NSE)
Dear Sir,
Robert C Beckman in "Elliott Wave Explained" said that : " the end of the fifth wave of wave c of a massive irregular correction will give fortune making buying opportunities"
As per above statement, if we were in irregular correction and if it is over then please advise another entry point to go long for much higher targets as we are having wave1 of 691 points (from 4786 to 5477)and wave3 of 874 points(from 5349 to 6222) so can we expect much higher wave5 from this low?
I am holding long from 6059NF level and wants to add more to get maximum benefit from this probable 5th wave.
NF has resisted at 50% retracement(6152) from 6318 to 5987.
NS's 50% retracement level is at 6125 (this week's high is 6127)
regards,
Mehul
Nifty Future looks to have taken support near 5985 levels and has closed near the days high. Nifty future may now further move up towards 6180 to 6220 levels if manages to stay above 6080 levels. Support for Nifty Future is at 6080/6000 levels and resistance is at 6180/6220 levels.
@manojag
was not near my comp in the afternoon.
reliance in in up channel,ist weakness
wud be breaking of channel
or 1037 the channel. there is negative
divergence in f macd in daily so fresh longs shud have
strict sl. if it remains in the channel it can reach
the targets u mentioned
@manu
what i understand by the fast rise setup mentioned
by sir in daily is thet 5sma comes close/touches 20 sma
now markets are not perfect so at time it cuts below 20 sma
for 2-3 days also and then a fast rise takes place
as is likely now. u can even view fast rise and fast fall by
fast macd in daily.fmacd coming to 0 or close to it
Good Evening All..
What's in side tomorrow..NF
Regards
Siddharth.
Value areas for tomorrow :
Nifty : 6140-6127-6080
Bn : 12440-12310-12293
To be read as VAH, POC, VAL.
@RG;
Could you please explain more explicitly how this VIX is calculated
_*VIX 1.15*
-----------------
How itis derived at so that i can understand it better.Yesterday i had read that somewhere you explained that it is volatality but is not VIX the index itself a volatality measurement then how do you arrive at your VIX Is it the formula using the number of days before expiry?
Please explain at your liesure you can also post it during market hours.Thanks in anticipation.
today huge addition of near 13.5 lakhs in 6100pe and unwinding in 6000-6300 ce was seen,does it indicate nifty may not decisively break below 6100 and may move upto 6300+levels this series???
Now a days,could not participate in trading hours but used to visit here late night.
Dear STOCK4SURE,
It is 7,14,500 addition in bhav copy.& though there is unwinding in CE's it wont be now easy ride for Bulls though Nf shaded 9.25lac O.I.The expiry game has started and next 2-3 trading days are very crucial.NF Positive cost of carry is suggesting bullishness but shaded O.I. likely to add pressure on Bulls.So again FII will have to pour money to keep it beyond 6100.Considering JNSR Tomorrow's latter trading Hrs.shall be important.If I shall be there then I shall watch R1 & R2.
@Rajagopal
Thank you. Just read.
Regards,
Veer
Good morning Ilango sir
I have sent a mail please clarify
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