Hanumanji

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

Wednesday, November 16, 2011

Nifty EOD 16.11.2011



Choppiness at its worst( for retailers).High frequency logarithmic trading which can stump anyone looking for intra-day scalps. No wonder "jobbers" have become an "extinct" breed.

Anyways--- continuing with my counts:

SW1=5400-5202=198
SW2=5202-5326=124
SW3=5326-- downwards Target minimum is 1.62*198= 320=5006 as a 5 wave form :
(i)=5326-5142=184
(ii)=5142-5229=87
(iii)= 5229-4990*(should ideally be taking Nifty to 4930 as a 5 wave form
5229-5121=108
5121-5159=37
5159-4990=169
4990-5065*(4990-5065-5030*)likely to test 5077/5105.

Shorts may be created accordingly for targets below 4990 with SL at 5122

Raghu


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