As you all know,I am counting this upmove from 4720 as retracement ABC wherein
A=4720-5114
B=5114-4911
C=4911 upwards as a 5 wave form:
C1=4911-5030
C2=5030-4968
C3=4968-5143
C4=5143-5019.35* Now this C4 has entered into C1 territory and thus put a question mark over the upmove. But the possibility of C being an Ending Diagonal is very much open and thus the last arm of C --as C5-- can very well take us above 5170.
And to top it all, EOD charts---pl see link---donot indicate overlapping of C4 and C1 on closing basis(and intraday overlapping is allowed) so lets wait another day to see how the final pattern emerges--
http://img508.imageshack.us/img508/3774/nifty1992011.png
All longs must have a SL at 4967
Raghu
Dear Raghuji,
ReplyDeleteThere is a development on today's chart, which imho , needs ur deep attention
Q
C1=4911-5030
UnQ
today since Nifty ji, went below 5030, C4 as u label has gone below C1
To be able to qualify this C as an ED all sub waves C1-C5 shud be 3 wave structures
Pls note that C1 :4911-5030 is a CLEAR 5wave structure. This rules OUT the C as ED , imho
Only 2 option that remain are:-
1) To consider the whole move 4911-5143 as a 3 wave C.a, with b,c,d,e to follow
or
my preferred count that we are in the 3rd wave of DOWN IMPULSE C.3.3.5
urs
SMO
Can the wave-lengths as described be fit in the ending diagonal ? 1<3 & 2<4 ?????
ReplyDeleteor it is a leading diagonal ? or some thing else?
Dear Laluji,
ReplyDeleteWave 1 and wave A can be Leading Diagonals;
Wave 5 and Wave C can be Ending Diagonals.
Within the Diagonals,there are two varables:
Contracting Diagonals:1>3>5
Expanding Diagonals:1<3<5
Current wave count is,therefore, an Ending Diagonal and is an Expanding Diagonal.
Raghu
Dear Shri,
ReplyDeleteLets wait for one more day to reach a final count------ and EOD figures donot show the closing prices overlapping.And Intraday Overlapping has been allowed.
:-)
Dear Shri,
ReplyDeleteWhere are you bro? Maine socha ab yahi ek forum hai jahan pe aap aaoge.. baki jagah se to gayab ho!!!
Cheers!!
My beloved Guruji,
ReplyDeleteAcchi baat hein, parantu EOD basis wave C2 par bhi lagu kiya jaye
EOD basis par dekha jaye, to C2 wave dikhnee hi nahi chiye !!
Ek baari aapke aaj draw kiye hue chart par dobara gaur farmayien, aur batayein :-)
urs
hhaaha.. sachin bhai sahab,
ReplyDeleteRaghuji ka blog Mandir jaisa hein, aur MMB is like a Disco. Ek do baari Disco gaya, kuch alag dekha, pal bhar ke liye anand mila so mila, par EW aatma ki shanti ke liye to mandir ke dwaar par hee aana tha!
Aur kidhar dhoondhne ki kya jaroorat? Mandir ke maarg par to hum, har din chale hein ;-)
njoy!
That is why , was saying that whether
ReplyDeletedeclaring the pattern as (Ending diagonal) with thegiven wave length is correct ?