I mentioned in Friday's EOD post:
Q
And now Y.B(b). sw3 upwards has started.
Minimum target=0.618*sw1=0.618*137=85=5123
Normal Target=sw1=137+5038=5175
So it seems even in this round to the up, 5169 would remain unbroken.
UnQ
And again today morning:
Q
After the gap-up, particularly if we open above 5110,we are likely to see a 3 wave downmove and then a 5 wave upmove which is most likely to take us past 5148 but least likely to go above 5169.
UnQ
Missed 5148 by a whisker but that doesnot prevent me from proclaiming "Jai ho EW ki".
And for those of you who are keen to notice the " 3 wave downmove and then a 5 wave upmove which is most likely to take us past 5148", today's intraday chart is being presented here.
Now that Y.B(b) has ended and Y.B(c) downwards has started, let us discuss the likely down wards target for this Y.B(c) which has started today from 5146 downwards:
Y.B(a)=5160-5011=149
Y.B(b)=5011-5148=137(92%); Thus the likely form of this Y.B is a Regular Flat
Y.B(c) = 5 wave form with a target of (5146-149) = 4997 is most likely with minimum target being 5146-93=5053 and maximum being 5146-238=4907.
Keeping in mind sw1=5146-5085=61 played today by this Y.B(c) , the most likely target is 4987.
Those who have got initiated into EW would do well to count 5 subwaves of this Y.B(c).
However in case of a Gap-Down opening,again this may not be possible so one should safely play for targets of 4987-4997.
EOD chart has been labelled countwise in following manner.
See you all tomorrow morning with intra-day probabilities.Raghu
Nice Raghuji .So when will the 600 pts dn start ?Regds.
ReplyDeleteDear Ani,
ReplyDeleteAs you can see from the latest updated chart,that would happen only after Y.C gets played out.
Dear Raghuji,
ReplyDeletePlease let me know what will happen tomorrow... is it possible to go long ? since today some good news flowing out from europe and USA.and also deepavali affect?.KINDLY let me know ur valuable comments
excellent analysis raghuji. looks like wave 3 is forming in the 5 wave down. 5128 wave 1 end shudnt
ReplyDeletebe reached now??
Is it possible that Y.B(b).sw3 hasn't ended yet and may breach 5148 tomorrow as per your Friday post.
ReplyDeleteIf that is still a possibility then How to figure tomorrow morning whether we are in Y.B(b).sw3 or Y.B(c)?
My belief dear friends,is that all news gets factored in counts.As a Corrective can retrace 23.6% to 99.9% of motive,depending upon news & sentiments,the length of Corrective varies.Ditto for motives where a sw3 can do 162% to 425% of sw1.
ReplyDeleteAnd it is here that wave-form and count of sub-waves assumes importance.
Now to the question as to whether the current move is a subwave of Y.B(b)sw3 or Y.B(c).
Look at the move down from 5146-5185.It is a very clear 5 wave form so its chances of being part of Y.B(c) are much higher.
For all shorts SL at 5146 is advised,though I believe we shall do minimum 5053 to the down before going above 5146.
And remember RBI policy. Anything harsh can push us down to 4910 also.
So SL for shorts at 5146. At what point to square off shorts? Minimum 5053.
And when to create longs?
This can not be answered now. Can be answered only tomorrow after viewing the unfolding waves.
So please start studying the waves and donot depend on me solely for tips.
Raghu
Dear Piyush,
ReplyDeleteAlthough sw1 of YB(c) = 5146-5085 has ended but sw2=5085- up may still be continuing and can very well go up to 5145.
Take care.
Raghu
This comment has been removed by the author.
ReplyDeleteDear Raghu ji,
ReplyDeleteHave you considered a possibility that 5160 was end of w3 of Y.A and not the Y.A itself?
Dear SF,
ReplyDeleteAs I have mentioned earlier also,subjectivity is the hallmark of EW.
And therefore ---To each his own--- got evolved.
HHHHHH