Durga...Congratulations for winning the settlement close contest.
durga 5180 3/29/2012 14:30:00 prev support.
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...
29 comments:
@Durga ji,
Congratulations for winning the NIFTY Expiry Contest.
Congratulation durga.
Thanks to you sir
Congrats Durga !
sir does today's candle qualify as outside day
@Sujatha/SAM
hi, not present today.going to outstation... i find
time to analyse charts..and i found some professional
intervention, on long side,donno whether its early to
say this...but it got support at 5140 level and
managed to close above my triggered level 5168...which is positive also the flow analysis which is i took on nifty future, tells me..some professional
intervenstion today..lets see how it goes..but if
bulls survives this,it will be bang on..where u know already...
reply me on mail,if possible...i am awaiting ur analysis, on this...
SAM if possible plz share some interesting analysis...
will join JN on monday/tuesday...
Happy trading to all blogmates....
master,iam very happy .it will be a olympic medal for me.iam very happy iam in your e.o.d.thats not a small thing.i lost lot of money till ifound the HOLY GRAIL, you blog. green shoots started growing in my economy .,only after following you. the psychic muses of the markets are deciphered to the level best by you.also your caring nature and and other senior members,gave me lot of confidence.once i read JIM COURIER tennis champion,saying ifif you r a professional in one field.you can use the professionalism in other fields also. he was basically a a BASE BALL player, who went on to become tennis ghampion.if it wre not for your blog,i would have been in severe losses. .thank you master and all my well wishers of jn family. good day.
Dear Durga!
Now its official, congratulations again....
Dear Jiignesh!
Thank you so much for your sincere efforts, your ability to deal properly shows that you are very good event organizer.
Congratulation Durga
@kumarsir LoL
I agree with u durga ji
Way to go Durga ......... Congrats
Durgaji Congratulations.
Ilango Sir pranaam.
Hello to all friends.
Sir i am seeing only 1 chart in the post. If possible please update daily & hourly charts as well.
Thanks in advance sir.
Durgaji Congratulations.
Congrats Durga!
I share the same gratitude like u & i salute ur honesty & humility :-)
Keep it up
SMO
Congratulations Durga Ji!!!
Congratulations Durga :)
Sir - Lesson - Just "be a hutch dog" with market :) i applied my own thoughts and failed - thoughtis - generally sometimes resistance or support line breakes during "expiry" the market may "follow" the one mainly - morning support breakes hence thought it may touch 50% of FIBO level coincidentally 30week sma. It slapped me :D
DR-ji's QUOTE - "there is no rule for market" :)
Anil - Wishful thinking - let it be hover here me too busyyyyyyy not able to concentrate much.. let us catch the train @ right time. yeah.. lot of "If and buts"
Will try to "share" something later by next week once you give "attendance" here
Namaste Ilango Sir & Blogmates,
The Bulls fought hard to close Nifty above 200SMA but still in RED; Option Analysis for 29-03-2012
Duplicated at Wordpress Site
And congratulations to the Winner of Nifty Expiry Guessing Contest.
Thanks & Regards,
Sanjay Kr Jaiswal
Durga Congratulations:-)))
As a continuation of yesterday's 2 Mts Nifty chart labeling we are continuing our labeling as follows:
Wave 1 = 5278 - 5205 = 73 Points
Wave 2 = 5205 - 5257 = 52 Points
Wave 3 = 5257 - 5136 = 121 Points
Wave 4 = 5136 - 5195 = 59 Points
Currently Wave 5 is under progress. In the present case Wave 5 can not be more than Wave 3, that is 121 points. Hence the maximum down side is 5195 - 120 = 5075. The low risk trade set up possibility exists at this level. If market touches this level by tomorrow then 'abc' corrective wave will unfold.
The calculation of 'abc' may be retracement of fall from 5386 to 5075. Earlier at 5233 I said ET is over and market will move upwards. But on the contrary market moved very fast to 5386 and from there on it is journey towards north. Hence I am labeling the movement from 5629 to 5233 as 1st corrective and movement from 5233 to 5386 as 'x' wave. It implies 5386 to current level is 'a' of 2nd corrective. Now we know the logic of calculating 'abc' as retracement of fall from 5386 to the possible 5075 level (311 Points). This may be either 130 points or 156 points. It implies Wave b of 2nd corrective may retrace either to the level of 5205 or 5231 level. It is worth to keep in mind that 5231 is near the end point of Wave 4 of one lesser degree.
The above analysis leaves us with two possible Trade Set Up which are as follows:
1. Initiate Long @ 5075 for a target of 5205 with strict stop loss price of 5070
2. Initiate Short @ 5205 /5230 with strict stop loss price of 5240 for a target of 4809 or 4835
The 1st corrective and 2nd corrective tend to be equal in terms of price as well as time and they are called as complex correction which are separated by 'x' wave . Based on this understanding target of 4809 / 4835 is worked out. Also note time wise this correction may get over around Apr.17th 2012.
ALTERNATIVELY
The Wave 5 ended at 5136 and 'abc' may unfold and accordingly the up move target may touch either @ 5231 or 5261. Based on tomorrow opening one may enter the trade based on this alternative scenario. In this case the Strict Stop Loss Price is 5280.
CONCLUSION
In any case highest target possible is 5260. Other wise market is in down trend only unless it closes above 5280 / 5386.
@ Durga
Congratulations !
Keep it up and Best of efforts !!!
Congratulations to Durga
Congrats Dear Durga for best expiry closer guess/study...
bears have managed to break the 200 dma and has inflicted the enemy(though i was expecting
it would hold below that level but expiry closing has likely saved the day) ...Also the bounce from the new lows
of the day could not cross the close of yesterday suggesting the strength of bears moving into the territory of bulls....tomorrow being week n month close will give us great insights on the likely moves ahead in the series (though options data clearly
the shift of base to 5000 range) ...happy trading!
Respected Durga ji,
Congratulations for winning the NIFTY Expiry Contest.
a big thank you for all the jn members.GOOD NIGHT.
Ameeeeeeen
Durga Jeee ... :) :) Congo
Hi,
I am one of the new bloggers. I appreciate your thorough analysis and agree with you.
I am also trying to connect technical discussions posted here with events of fundamental importance.
April 17th is eagerly awaited due to RBI policy disclosure. April 13 is also imp. as Infy announces qtly results. Their guidance as we know is very imp. Experts have cautioned disappointed outcome with both rate cut hopes and Infy guidance. So, it is quite possible that your calculations become true.
The corrective upmoves in the process may coincide with run up to the two big events.
Also, the parliament debates taxes proposed in fin bill including GAAR from 24th April. In all probability, GAAR is going to stay. Qtly results of majority of corporates are anticipated to give disappointments only. So, I am expecting even sub 4800 levels when the budget session ends and most of the PSU banks declare results.
RBI may announce rate cut in May or June. That will trigger onset of bull markets. However, banks cannot pass rate cut to customers immediately due to burden of prevailing high interest rate deposits read as funds. That realisation leads to corrective down moves. Then later we will see secular bull markets which will coincide with:
1) QE3 from US fed
2) Re-routing of funds of Mauritius based FIIs thro' new tax haven.
Finally of course, MARKETS ARE SUPREME.
Congratulations to Durga for winning the contest
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