Hanumanji

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

Sunday, September 4, 2011

Nifty EOD 2-9-2011

So we have retraced from 4720 to 5110=390 points.And as I am treating it as retracement of wave 5702-4720, it has already retraced 39.7%. And as per rule of alteration,this retracement was expected to be 38.2%(pl refer to previous posts for details)--so is the retracement over?
Hmmmm-- I donot think so .
Based upon the Theory of Alternation,I believe this retracement had a likely target of 38.2% and a form of Flat ABC and my preferred count tells me that we may have completed only A of this Flat Retracement ABC,wherein A was a three wave
sw1=4720-4998=278
sw2=4998-4928=70(25%)
sw3=4928-5110=182(65%)

And currently we are in B which is most likely to be minimum 90% of this A (and maximum 138.2%). So to me we have to test 4760 before coming up and crossing 5110.

What if we cross 5110 first?
That will not only invalidate the above mentioned count but also enforce a re-labeling of the current retracement. Then I'll have to treat this retracement as retracement of (higher degree) 5740-4720 which has retracement target(most likely) of 38.2% but the form for this retracement has to be other than a Flat ABC. And in this Alternate Count also,we have to fall to 4960 before going above 5110.

So Monday will take us below 5000 in both the cases.

Raghu


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4 comments:

  1. JEEVANSeptember 4, 2011 at 8:38 PM

    Very Nice Raghu ji.

    Thank you very much sir.

    Good luck.

    ReplyDelete
  2. JEEVANSeptember 4, 2011 at 9:41 PM

    Dear Raghu ji

    Will you please give me 5 waves counts of A from 6339 to 5177.

    I think as follows. May be wrong or right, please tell.

    A1=6339-5690=649
    A2=5690-6181=491
    A3=6181-5624=557
    A4=5624-5801=177
    A5=5801-5177=624

    Is it correct?

    In nify chart W4 enters in territory of W1 but closes below W1. Is it valid?

    Thank you.

    Good luck.

    ReplyDelete
  3. reachnagraj / theknight16September 4, 2011 at 11:35 PM

    Guruji - ref mail I sent to all seniors, the high still remains 5066-5068; tomorrow we may see breach of 5k levels but we are in Buy On Dips market for this week. A visit to 5150-5200 is still pending.

    ReplyDelete
  4. SachinSeptember 5, 2011 at 8:32 AM

    @@NAGRAJJI

    i beg to differ here.. No NIFTY trades anymore.. look for individual stocks.. buy stocks which were srong.. like Jubi, VIP,BATA etc..

    nifty will consodilated for or less before hitting 5200 there are frustrating times ahead :) :) ::P)

    Cheers!!!

    ReplyDelete

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