Nifty, tentatively moving higher, has made a tentative 5th top..

Nifty, broke the channel as in "ivth", moved back swiftly into the channel & rose sharply as in "vth"..

Nifty, on completing "5", sells off, as in a reversal...correction...

Nifty closes below DLEma, another bearish signal for "Hold"..

Nifty completed (iv)/4 with a break of the trendline and commenced its (v)/5th wave, demonstrating a very useful EW guideline.

Nifty displays the power of a 5th wave, fast & swift..

Nifty confirms a 5th wave reversal with a break-out above 5650 cluster.

Nifty reverses strongly on completing a 5 sub-waves from 5216 low, the 3rd wave from 4770 low.

Nifty Intraday Update-I

(v) the of vth of 3rd is on if holds above 5677 for a new high.

Nifty found 50sma perfect for a pause/ reversal on a volatile settlement day.

Congrats..!! to Shriram-5313-WkEMA will try to remain constant.(Great logic of a trend follower)
Congrats..!! toKumar Technicals-5310-just above DLEMA.(Calling it @ 11.47AM)
Congrats..!! to All participants; especially to those who made it closer; madamuniramaiah(5328) ; SJkolkata(5347) for coming closer to the highs.
Thanks to Jiignesh,his friend Kiran & Dinesh Rishi for their tireless efforts.

Nifty reacts from the "Golden ratio-5124" after making a "Five".

Nifty correcting up the fall, holding above 5550.

Nifty reverses after a "Five" with negative divergences.

Nifty completes a "Five".

The simplest approach, though difficult to believe, is the right approach. Negative divergence, the "Evening Star" formation for the second time alerting a reversal.And finally the sharp fall below the "Day High Ema".
Many contributed on a continuous basis. To name a few:
Mynac - alerted to "5450" being important resistance.
Krish - has been emphasising on the turn dates 13th to 14th.
Tryin2Trade(Manoj)-Boldly selling citing risk-reward with divergent FII buy/sell.
San - has been updating with charts at critical intervals.
ToT Amit - pointed out the time aspect with no.days being completed for a reversal.
Vipani Sangeetham -given the Agni level "5435", closing below which uptrend ends.
Kumaraguru - firmly asserted the start of a downfall.
Rajagopal - with his stock specific alerts "Non-Stop"
Rochak Parekh - with his steady blog updates.....
Now we need to see follow up price action as well as the depth of this correction.

Nifty at the end of its indecisive phase.

A broadening top seem to be forming since the 5367 high. Volumes have been declining. A decisive move should unfold beyond 5230 to 5260 & 5290.
Revisiting this chart to find Nifty barely managing to hold above this crucial trendline. Some interesting action should develop tomorrow.
Below is Nifty futures chart - broke below the trendline finally(Is this the final confirmation of the end of 4th wave for the 5th to show itself..!!). Tomorrow's price action of either a continuation or a getting-back to the channel will have a directional movement.
Break below 5220 should head to 5150-5165(Week low ema). For bullishness to resume, Nifty should start trading above 5260 and then 5290.
5256 & 5262 are day-week pivots and 5213-the monthly pivot.

Nifty shows a small "intra" trailer of things to come..!

Nifty, after a "5" & +ve div, reverses..

The first signs of "short term bottom" was seen today quite close to the 200sma.
More follow-up price action has to be observed, a minimum being a close above 5 day ema(4791) tomorrow, to confirm the same.
There are two possibilities at work here. However, we prefer the "5" completed from 5309 to 4675 today and a corrective move is underway.This corrective wave can not be gained for maximum with a positional trade and one may need to keep taking profits and be willing to make both kind of trades.
Price is supreme. Any fall below 4730-4740(Hr & Day Low ema) will be weakness.

Nifty's powerful 3rd wave(or C)

Nifty's irregular correction was discussed once earlier. Any correction having its "b" wave moving above the "A" starting point hints at the underlying strength. And the same must have unfolded today with many stocks(frontline) making new uptrend highs.

Some target calculations based on Futures prices.

The EW possibility for the coming days.

This chart below is for educational purpose and it was fairly easy to follow.

One day's price move has reversed the TA totally. However, tomorrow's close will have some bearing on the weekly TA.

Nifty's dramatic rebound from it's weekly Pivot.

Once again Market humbles a confident trader who was not prepared for a "Contingency plan"..A lesson well learnt without much damage. They don't say that lightly.."Market is a worthy opponent".
Another reminder for reversing a trade when a clear "5" is done, especially with a triangle for the "4th". (Triangle clear in th 5-minute chart.) Triangles in 4th is always an early warning/signal of the last move in that direction.
The current uptrend from 4539 which was reversed yesterday has got back into it's uptrend.
Weekly & Daily Pivots are now at 5022 & 5016 and that is the critical support for this upmove.


Inspite of the sharp rebound, Day high ema is not cleared on closing basis but weekly momentum is back.