Prices reached month channel support @ 5520.(log scale).
(Both Log & semi log charts are available in JustNifty TA file's month chart).
In the semi-log scale chart, prices have just broken down & has the potential to seek much lower levels.
Considering the downtrending week TA, we have labelled the current fall from 5721 as (i)of 3rd.
Follow the retrace of "5721 to 5522. It should limit itself @ 38%-50% (5598-5622).
Above "5645", 61.8%, ST strength returns. Until then, it is sell on rises.
"Death Cross" has occurred with 50dsma moving below 200dsma @ 5851. It adds to the existing bearishness as long as prices remain below "5851".
Wishing you lots of confidence & peace in your trading room.
(Both Log & semi log charts are available in JustNifty TA file's month chart).
In the semi-log scale chart, prices have just broken down & has the potential to seek much lower levels.
Considering the downtrending week TA, we have labelled the current fall from 5721 as (i)of 3rd.
Follow the retrace of "5721 to 5522. It should limit itself @ 38%-50% (5598-5622).
Above "5645", 61.8%, ST strength returns. Until then, it is sell on rises.
"Death Cross" has occurred with 50dsma moving below 200dsma @ 5851. It adds to the existing bearishness as long as prices remain below "5851".
Wishing you lots of confidence & peace in your trading room.
35 comments:
Namaskaaram GuruJi and Brother & Sisters,
Good Morning.
Have a Good Day :)
Vaalga Valamudan.
good morning ilango sir and blogmates
Good Morning Ilango Sir and Friends
BANK NIFTY Chart analysis: CLICK HERE
Good Morning Sir & All Friends.
Good Mng Sir and Friends.
Good Morning
good morning Ilango sir and everyone
Good Morning sir & friends
Namaste Guruji.
Vinay.
GM Ilangoji & all Blogmates
Good morning Ilango sir & all blogmates,
Rgds
Saravanan
Good Morning Ilango Sir and Blogmates.
Namaste Ilango Sir and blog friends
LV
Good morning sir,
Diamond top formation on daily chart of NS from Oct 12 to till now. and tomorrow it Brock downside for target of 4700 to 4900.
source: Sharekhan pattern finder.
Good Morning Masters and friends.. have a great and Prosperous day ahead!!
kizar khan some good thing has happend for you in the form of RBI new governor. Mkt is in a support zone. Some pullback expected and you should utilize the opportunity to exit your position at a reasonable price. 5900 CE time value is going to trouble. After exit you can rethink your new strategy. Holding 5630+ market may have bottomed short term. Market may Oscillate between 5500 - 5700 for some time.
Hello Illango Sir good morning and great thanks!!!!,
Yesterday i asked teach you JNSAR one of blog mate varun zee trying to help me , Illango sir now im having 5900 call @20 ...please guide me hold or sell.
Good Morning Ilango Sir and All Seniors and Friends
Ilango ji,
Good Morning...
Gudmorning master and all frnds
Sir ILango ji charan vandan and everyone good morning
Good Morning Master & Friends
Good morning Sir & all blogmates
I am writing for the first time on this blog.
Sir, I have a query. As per Elliot wave guidelines, corrections (abc) usually end in the area of prior Wave 4 low. Currently C wave is undergoing. Prior wave 4 low was 5477. Can we expect current Wave C to end tentatively around 5477 ? or downtrending weekly TA takes precedence ?
I am a novice hence please excuse if wrong.
R/Ilango Sir,Namaste n Namaskaar 2 all reader's.
good morning Ilango sir and blogmates
Good Morning Ilango Gurudev and all my blog mates.
respected llango sir as 5522 is broken should this wave b considered as 1st of 3rd still not completed
Good Morning Gurudev and Friends
Aditya your expectation should work out. Else bahut
kharap time.
GM Master & JN Family,
This is impulsive on any Degree one sees
4400/ 3850 NS coming in next 6 months ?
Who knows wot the Bears dream :-)
100 SMA Week 5457 / 200 SMA week 5434
@ Aditya,
COrrecting "c" ending closer to the lower cycle's 4th wave is just a guideline. It need not always end that way.
@ dharmu mishra,
Hour EW labels are meant to guide intraday.
3rd waves tend to sub-divide; hence, labeling such sub-waves are bound to have errors.
New Post Done.
respected llango sir thanks for ur guidence
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