The aggressive trader may attempt some longs @ 5380-5420 zone and book out near 5485-5520 zone.. That is the trading range as per the last few days of trading. It could break down if the trend persists.
A close above 5465 - a mild pause indication
A close above 5495 - the first reversal indication..
Failure to stay above 5465 would indicate more weaknesses.
40 comments:
Good Morning Ilango Sir and Friends
Nifty Daily Analysis: CLICK HERE
Good Morning respected Ilango Sir & blog mates.
Hi All,
I’ve been following this blog for a month now, and have found it to be supremely awesome.
Ilango sir, thanks for your hard work.
Here is some Wolfe Wave analysis I’ve done myself. Please have a look at the attached charts and feel free to point out mistakes/corrections.
NIFTY weekly chart 2005 - present
weekly WW.jpg - 93.9 KB
Another interesting analysis. This is Nifty 2 min intraday 2nd Feb (yesterday). A bearish wolfe wave completed its false breakout at 14:30. The fall was imminent. Wanted to post, but couldn’t as page doesn’t load properly on office computer.
intraday ww.jpg - 33.5 KB
A very very interesting chart from Oct to Present. I don’t know what to make of it.
Note the similarities in shapes (Compare a to A, b to point B, c to point C & so on).
vv interesting.jpg - 41.3 KB
Also, please suggest a good free upload site (no downloading delays)
Dear Illango Sir, good morning.
Goodmorning all
@Tigar= gm boss.Tigar= i studied the chart for Reliance
and do not see any great breakdown from current levels
If 900 holds on reliance Spot= it will single handedly
take nifty up
@tigar= on the story on Nifty= 15EMA monthly stands
at 5409/91 spot. This certainly shud act as a good
support. However, the trendlines that if I have chalked
out, indicate that nifty is unlikely to go below 5537
. I feel that shud nifty fall n stay below 5409,
every1 who knows a little about charting, will short
the mrkt knowing fully well that I last major support
has been broken. This will only add further shorts
to the already existing ones. The mrkt will certainly
come into an extremely oversold condition at the foll
down side levels for me. 5409 - 5380 - 5359 - 5337.
Very honestly speaking, and this comment is personell
and bold= I perhaps may be the only one buying at such
lower levels.I do see an instant attempt to get spot
back to 5409/91 indicating to me that the worst for
the time being is over. I stand to be totally corrected
This is only a personalised opinion
@typing mistake= it is not 5537, but 5437
GM Sir & Friends!
@misnomer; we have one blogger here of Wolfe Wave ,his/her blog site is http://wolfewaveindia.blogspot.com/. You can contact there and jointly you both can do wonder.
thanks,
Sujeet
gm all,
Nice work, misnomer. How about a blog or loading it as a pic file on picasa or some such instead of making it a download? (I could only see one because there's a half hour wait before you can dl the second.)
Yeah, sujeet is right, multiple bloggers would keep the blog ticking. See if you and WWI can work something out, misnomer.:)
Very Good Morning Sir and Friends.
@Yoda: that is why i dropped in middle and suggested for wolfe wave blog. but what the pictures are saying?
@manoj bhaiyaa= goodmorning and ram ram
@rajagopal sir= Gm sir
@Sujeet,
The pictures that he posted? Shows that the downtrend isn't finished. Its being blocked on a line (the point of yesterday's drop)
@rajagopal sir= good morning sir
@Yoda: Thanks noted.
Yoda/Deepak Hi.
Yoda in that case we have a second WW picture - WWI had mapped 5800 topping before the downward completion. (or did he mention 5380 first?)
Gm Illango sir & All.
@ Raja sir how U like my call on Gold Give full 100 points.
Crude also not broke my Sl of 4209.
Shorted but exit early in crude.
Nxt no.is of Nickle I think.
Good Morning Ilango Sir, Seniors and Friends.
hi RG,
I don't think he mentioned 5380, but these WWs are terrible on both sides like tidal waves, so maybe both are right on different timescales.:)
Thank you musti. Incidentally 4209 was the Pivot for yesterday. Just check - Silver has a surprise punch - NI broker+jewellers are aiming at 50K in (believe it or not) 30 days time. Just sharing my info. Even copper may be due for a correction?
Good Morning ALL
sir,
u have lowered reversal point frm 5655 to 5625.
is 5625 the downtrending channel break or
something else?
Good Morning ilango sir and friends,
Today's quote received :
"SUCCESSFUL PEOPLE ALWAYS HAVE TWO THINGS ON THEIR LIPS. SILENCE AND A SMILE….. A SMILE TO SOLVE THE PROBLEM AND SILENCE TO AVOID THE PROBLEM!" KEEP SMILING
We Should Not Write or Speak To IMPRESS People …Instead Try To INSPIRE People And IMPROVE Ourselves
Good Morning...!!!
Superb two liner Gauresh... Like it three much.. so much true in real life..
regards
prakash
today the mrkt is going to be FANTASTICALLY exciting
@ Guaresh great quote buddy,thx for it.
Hi
Good morning to all
@ Raja sir,already holding Short in Coper.
Silver my view first has to take out crucial level of 44250.
Only above it can positional long.
I personally Feela that these types of rumors are for just
hanging retail traders,{Maal chipakana}.
Silver is due for 39000 Level first before any upmove.
Sir,
If it does cross the pivot 5446, does the possibility of 5th wave increase?
GM Sir and ALL
Musti noted. Thank you. Please do advise me your views.I respect them very much.
@musti,
1st time since aug upmove silver has broken supports after
multiple negative divergence in 26/12 macd and ending diagonal
(wave 5 type) scenario. there is a hs formation at the
top. it might be the case of the whole 6 months rally correcting
like our nifty which mught be at the doorstep or already in
a correction of 21 months bull run.
if t works according to this 39000 is
the best case for bulls
Sir, i have tried to label the horizontal triangle in the hourly chart, this seems to be either the last (E) leg, with a breakout/breakdown possibility, the current upper limit is 5480. Hourly is moving towards overbought zone.
5420-5480 range in the triangle
For blogmates:
A horizontal triangle appears to reflect the balance of forces, causing a sideways movement that is usually associated with decreasing volume and volatility. This pattern contains 5 overlapping waves that subdivide into 3-3-3-3-3 and are labeled A-B-C-D-E.
The wave E can overshoot or undershoot the channel.
Hi PS : u mean short at raise? can u advise the HS levels?
NEW POST DONE.
If it sells off from 5470-80 this time, it may turn out to be a breakdown
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