Friday, November 30, 2012
Nifty Pre-Market View.
A=C @ 5869.
A=4531 to 5630=1099 pts
B=5630-4770
C=4770+1099=5869(minimum)
Considering the "Just-turning-up-week TA", more upsides possible. However, there will be corrections along the way which would be opportunities to buy into.
Corrections during this up move from 5548:
1st: 5638 to 5608=30 points (a of 2nd)
2nd: 5643 to 5594=49 points (c of 2nd)
3rd: 5649 to 5623=26 points (sub-wave of 2)
4th: 5711 to 5698=13 points (minute wave of sub-wave of 3)
5th: 5803 to 5789=14 points (minute wave of sub-wave of 3)
What is being left now is sub-wave-4 correction; wave-4 correction; Accordingly you can plan your re-entries as well as holding onto your positions. I'll update these waves as it appears in the coming hours/days. See the weekly chart(Line chart in "JustNifty TA file" ) for alt. EW, other than the "label in EOD post's Lead indicator chart".
Understanding the depth of corrections would reveal, in combination with other technical studies as well as TT colour changes, when a reversal is being attempted.
From the opening hour's high(suspected (iii)rd), sub-wave 4(iv) correction could unfold; since sub-wave 2(ii) was a flat, a zigzag or a triangle could unfold in sub-wave 4(iv) lasting till EOD.
Hence, resistances would be around 5845-60 zone...
A=4531 to 5630=1099 pts
B=5630-4770
C=4770+1099=5869(minimum)
Considering the "Just-turning-up-week TA", more upsides possible. However, there will be corrections along the way which would be opportunities to buy into.
Corrections during this up move from 5548:
1st: 5638 to 5608=30 points (a of 2nd)
2nd: 5643 to 5594=49 points (c of 2nd)
3rd: 5649 to 5623=26 points (sub-wave of 2)
4th: 5711 to 5698=13 points (minute wave of sub-wave of 3)
5th: 5803 to 5789=14 points (minute wave of sub-wave of 3)
What is being left now is sub-wave-4 correction; wave-4 correction; Accordingly you can plan your re-entries as well as holding onto your positions. I'll update these waves as it appears in the coming hours/days. See the weekly chart(Line chart in "JustNifty TA file" ) for alt. EW, other than the "label in EOD post's Lead indicator chart".
Understanding the depth of corrections would reveal, in combination with other technical studies as well as TT colour changes, when a reversal is being attempted.
From the opening hour's high(suspected (iii)rd), sub-wave 4(iv) correction could unfold; since sub-wave 2(ii) was a flat, a zigzag or a triangle could unfold in sub-wave 4(iv) lasting till EOD.
Hence, resistances would be around 5845-60 zone...
Thursday, November 29, 2012
Nifty Pre-Market View.
Nifty has moved past "5661" comfortably ahead of month close and likely to protect the same.
Considering a likely week reversal, the upmove from 5595 to today's or Friday's high could be taken as the (1) wave of the 3rd and monitor retracements accordingly.
Opening hour likely to end (iii) and an (a)(b)(c) correction for (iv) is likely to be followed by (v) which could move into Friday. On the other hand, if the upmove sustains continuously, it would mean "waves are sub-dividing" and market is sensing bigger upsides.
These corrections are likely to be 26-46 points range.(Have increased the range considering "expiry")
Moving past 80% 5761 would add to the strength. (BN has done it)
Considering a likely week reversal, the upmove from 5595 to today's or Friday's high could be taken as the (1) wave of the 3rd and monitor retracements accordingly.
Opening hour likely to end (iii) and an (a)(b)(c) correction for (iv) is likely to be followed by (v) which could move into Friday. On the other hand, if the upmove sustains continuously, it would mean "waves are sub-dividing" and market is sensing bigger upsides.
These corrections are likely to be 26-46 points range.(Have increased the range considering "expiry")
Moving past 80% 5761 would add to the strength. (BN has done it)
Wednesday, November 28, 2012
Happy Guru Nanak Jayanti.
Gurpurab
There is a very beautiful story in the life of Nanak, another great mystic of the same calibre as Kabir.
Nanak went to Mecca; he traveled with some Mohammedan travelers who were on a pilgrimage. They reached Mecca, the holy stone of Kaaba. It was evening and the sun was setting, and they were very tired; and Nanak immediately fell asleep. The travelers, the companions, were very much surprised. They used to think of Nanak as a very holy man, but he was doing something stupid: his legs were towards the Kaaba when he lay down and fell asleep. They became very much afraid; this is a sacrilege.
And by the time they could do something about it, the chief priest came, and he said, ”Who is this man? Is he an atheist, he does not believe in God? He does not seem to be a Muslim. Throw him out of here!” All this noise and talk, and Nanak opened his eyes, and he said, ”What is the matter?”
There is a very beautiful story in the life of Nanak, another great mystic of the same calibre as Kabir.
Nanak went to Mecca; he traveled with some Mohammedan travelers who were on a pilgrimage. They reached Mecca, the holy stone of Kaaba. It was evening and the sun was setting, and they were very tired; and Nanak immediately fell asleep. The travelers, the companions, were very much surprised. They used to think of Nanak as a very holy man, but he was doing something stupid: his legs were towards the Kaaba when he lay down and fell asleep. They became very much afraid; this is a sacrilege.
And by the time they could do something about it, the chief priest came, and he said, ”Who is this man? Is he an atheist, he does not believe in God? He does not seem to be a Muslim. Throw him out of here!” All this noise and talk, and Nanak opened his eyes, and he said, ”What is the matter?”
Tuesday, November 27, 2012
Nifty Pre-Market View.
Rising 50DMA @ 5657 & MHEma @ 5661 are the two critical nos:
The Cluster of resistances @ 5650 can only be dealt with a gap up;
Staying above 5650 is critical for the current upmove;
the next base no: for an aggressive SL for the longs may be considered as 26th low @ 5623.
The resistance in the TT shows as 5682-98.
The Cluster of resistances @ 5650 can only be dealt with a gap up;
Staying above 5650 is critical for the current upmove;
the next base no: for an aggressive SL for the longs may be considered as 26th low @ 5623.
The resistance in the TT shows as 5682-98.
Monday, November 26, 2012
Nifty Pre-Market View.
"5594" is the most critical number for this week. Also it is the filtered JNSAR.
For the opening session, monitor the retracement for 5594 to "the opening session's high";
Weak "only" below 61.8% & 80% of that retracement.
After such a retracement, Nifty would move higher, if "Bullish indications revealed so far is true".
Weak "only" below 61.8% & 80% of that retracement.
After such a retracement, Nifty would move higher, if "Bullish indications revealed so far is true".
Saturday, November 24, 2012
Having a daughter is not a burden, but rather a joy.........break the rules
Kamala and her husband Ramesh were overjoyed at the birth of their first daughter. They celebrated with their neighbors and even called a pundit (a Hindu priest) to attend the celebrations. This happiness lasted until Kamala delivered another baby girl. Ramesh was upset by this news because he wanted a son very badly. Ramesh’s desire to have a son was due to the fact that it is traditionally the son who takes care of the parents once they are old. Also, it is the son that lights the funeral pyre of the parents.
He could accept having one daughter, but the thought of having two girls was a burden. He took his anger out on Kamala and cursed her because she was unable to bear him a son. Kamala felt helpless and miserable because she had no control over the situation.
Friday, November 23, 2012
Nifty Pre-Market View.
"5643"-WEma is the critical number for the day.
Resistances would be around 5661... and this 2nd attempt would be with overbought hour TA.
A pause/ pull back from the resistances is likely. It is the nature of the pull back and the ability to hold
5602-5614 would be critical to this "suspected reversal".
"5634-41-51"-earlier support zone during the initial fall from 5815 is acting as a resistance now.
Ability of the market to force itself through it and thus changing it to support again would alter the ST scenario firmly in favour of bulls.
Nifty has 2 unfinished agenda for bulls:
23rd (Today's) Close.... above/ below 5643;
and 30th Close....above/ below 5661;
Until then, stay alert.
Resistances would be around 5661... and this 2nd attempt would be with overbought hour TA.
A pause/ pull back from the resistances is likely. It is the nature of the pull back and the ability to hold
5602-5614 would be critical to this "suspected reversal".
"5634-41-51"-earlier support zone during the initial fall from 5815 is acting as a resistance now.
Ability of the market to force itself through it and thus changing it to support again would alter the ST scenario firmly in favour of bulls.
Nifty has 2 unfinished agenda for bulls:
23rd (Today's) Close.... above/ below 5643;
and 30th Close....above/ below 5661;
Until then, stay alert.
Thursday, November 22, 2012
Nifty Pre-Market View.
Happy 2nd Anniversary to Gauresh's Blog.
= = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = =
"5636" is home to many critical numbers for the day. Resistances would be around it ...+10-15 points...
And a pause/ pull back is likely.
It is the nature of the pull back and the ability to hold 5592-5607 would be critical to this "suspected reversal".
"5634-41-51" were the earlier supports during the initial fall from 5815 which could act as a resistance now.
Ability of the market to force itself through it and changing it to support again would alter the ST scenario firmly in favour of bulls.
Nifty has 2 unfinished agenda for bulls: 23rd Close & 30th Close; Until then, stay alert.
= = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = =
"5636" is home to many critical numbers for the day. Resistances would be around it ...+10-15 points...
And a pause/ pull back is likely.
It is the nature of the pull back and the ability to hold 5592-5607 would be critical to this "suspected reversal".
"5634-41-51" were the earlier supports during the initial fall from 5815 which could act as a resistance now.
Ability of the market to force itself through it and changing it to support again would alter the ST scenario firmly in favour of bulls.
Nifty has 2 unfinished agenda for bulls: 23rd Close & 30th Close; Until then, stay alert.
Wednesday, November 21, 2012
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Elliot's Impulse waves.(Part-5)
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