Though it looks lengthy, go with the flow..you could understand the logic quite well.This is quantity analysis at its best.
Hi..Fire.. Tell them how much time it took to get to these and also the possibility of making such an analysis during trending moves with an "Excel calculations" so others too attempt in a simple, easy way.
As usual the positive global cues may be used to initiated "Our trending trades".
Thank you Fire for such a meticulous one. You'll keep good company with AAR VEE.
In Ratio Analysis, calculating a W-5 target is easier than the other waves, just for the reason that more information is available. It is a bit tougher for W-3. But we can try. Here, I am assuming that 3.(3).iii is indeed going on.
There are various kinds of Ratio projection, e.g. External Retracement, APP(Alternate Price Projection, Price Expansion etc. I am using only External Retracement here. The things to remember are ---
Wave 3 is usually the extended Impulse Wave (Especially in Stock market).
Wave 3 is related to Wave 1 by 100 %( minimum), but in general terminates on or very near to 161.8%-261.8% of Wave 1,
Wave 3 is frequently related to Wave 2 by 161.8%, 200% or 261.8%.
We would look for clusters of possible targets to get the most probable target zone (similar to using the TT for supports/resistances).
Now, starting from the smallest timeframe, for 3.(3).iii---
3.(3).i (384 points) gives us targets of ---
5172 (5556-384)
4935 (5556-(384*161.8%))
3.(3).ii (154 points) gives us targets of
5307 (5556-(154*161.8%)) Achieved today
5248 (5556-(154*200%))
5153 (5556-(154*261.8%))
Now, going back to the larger timeframe, for 3.(3) ---
3.(1) (483 points) gives us targets of ---
5318 (5801-483) Achieved today
5020 (5801-(483*161.8%))
4835 (5801-(483*200%))
3.(2) (250 points) gives us targets of ---
5397 (5801-(250*161.8%)) Achieved
5301 (5801-(250*200%)) Nearly achieved
5146 (5801-(250*261.8%))
Now, going back to a still larger timeframe, for 3 ---
1 (648 points) gives us targets of ---
5533 (6181-648) Achieved long back
5133 (6181 – (648*161.8%))
4885 (6181 – (648*200%))
2 (491 points) gives us targets of ---
5387 (6181-(491*161.8%)) Achieved today
5199 (6181-(491*200%))
4896 (6181-(491*261.8%))
So, we get a few clusters now, which could be the target zone, i.e.
5133-5199 (especially 5133-5153)
4885-4935 (4835 & 5020 are not too far though).
32 comments:
Good Morning Ilango Sir and Friends
Nifty daily analysis: CLICK HERE
Good Morning Ilango Sir, San and Friends.
Sir, Have you had the chance to view my posting yesterday evening? Just curious to know your views.
good morning to all
Gm Illango Sir & all.
@ raja sir how U like my new inutiative?
Good Morning Sir and Friends.
Musti - good beginning and effort. Posted request in your blog y'day.
Good Morning ilango sir and friends,
Today's quote received :
Four steps to LIVE LIFE:
1st : Look Back & Thank GOD
2nd : Look Forward & Trust GOD
3rd : Look Around & Believe GOD
4th : Look Within You & Find GOD.
Life gives answer in 3 ways...It says Yes & gives you what you want..It says No & gives you something better...It says Wait & gives you the Best.
Good Morning...!!!
Sir,
can't we assume this to be the 5th of 3rd? targetting 5150
gm sir and freinds
@ Raja sir,
I posted all trades as per my study only.
cant able to post Gold levels on daily basis as there are
6 other Commodity available for trading.
So Y to stuck only with Gold?
@gauresh.
amazing stuff everyday. thanks
Got it Musti. Infact my request was to keep a larger list apart from bullion.
Good Morning ALL
jay bapu gm... nifty sell karo kal na low ni niche open karyu che
Sir & family
gm..
even thinking f longs take nerves
ORB broke downside...
sab ko mandi mkt mein namskaramm :)
Raja sir not understand?
U mean Agri also?
@ all commodity lovers,
with blessings of Almighty God Yesterday I post 5 trades in
commodity section.
4 Hit all targets & 1 Sl hit.
I hope Illango sir not mind of posting it here.
Namaste India
"5253"-the minimum target as per the chart done.It is only the minimum.
Next would be 5212 & 5188(1.25 times & 1.38 times) when 5253 is broken.
Good Morning Master & everyone.
Master,
I have been encouraged and inspired by you and all these wonderful fellow members. Just like Prabhakar last night gave me the impetus to shrug off my innate laziness.(Woke up late :))
Thank you once again.
@Prabhakar,
This study wouldn't take place without you. Thank you. And keep your wonderful analysis around.
@RG,
Where were you for the last two days? Missed you around... :)
gm prashantbhai
Dear Fire,
Thanks and also inspire me to learn along.
And yes missing RG sir and Sujatha mam. Both together can make JN family Humorous and enjoy there trading
day..
how long will 5253 hold ??
@ Prabhakar,
Be assured of the fact that you have been burning the midnight oil and keeping everyone "awake" here. That is quite a lot these days.
We continue to look at the market from various angles/ perspectives without a bias and keeping the current trend in mind.
Fire / Prabha - tied up a bit. Really enjoyed Fire's analysis. Will be back with you all.
short covering started??
now whts the tgt for u sir
NEW POST DONE.
Sir,
I apologize if it brings uncomfort to JN family. I will reduce it.
good work its very helpfull,fire sir
and ilango sir thanks for publishing
awaitnig for 12 noon update
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