Hanumanji

Hanumanji
Jai Hanuman Gyan Gun Sagar Jai Kapeesh Tihu Lok Ujaagar Ram Doot Atulita Baladhaama Anjani Putra Pavanasuta Naama

Wednesday, August 24, 2011

Nifty EOD 24.8.2011

Let me start from yesterday's conclusion:
Q
Conclusion: In view of the above,I believe we are now in (v) of W3 which is likely to travel down by a length approx. equal to (i)=143 (pl have a look at my previous posts to see details of W3).It is more likely now that we may go below 4797 to complete this (v) of W3.

So I advise for today go short with SL at 4967 for targets below 4797.
UnQ

It worked out perfectly.
To place the counts in correct perspective again,lets revisit them:

Wave C from 5944 downwards--5 wave form
W1=5944-5329=615
W2=5329-5740=411
W3= in progress ---- target 1.618*W1=995=5740-995=4745 and has so far been:
SW1=5740-5497
SW2=5497-5702
SW3=5702-4946
SW4=4946-5194
SW5=5194 downwards in progress
(i)=5194-5053=143
(ii)=5053-5132=79(55%)
(iii)=5132-4797=335(235%)
(iv)=4797-4966=169(50% of (iii)
(v)=4966---downwards in progress as 5 wave
and the most logical target is below 4797.Discernible waves so far are
4966-4896=70
4896-4931=35
4931-4875* is in play and should take us to 4815-4820 levels.

All shorts now should have a Stop Loss at 4932 and target -1 at 4820.

Best of luck.

Raghu

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.