Hanumanji

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

Tuesday, November 15, 2011

Nifty:EOD 15.11.2011



So now its clear that the downmove from 5400 is a 5 wave.
Hope the SL @5125 for longs would have deterred the readers from creating fresh longs in the morning as a low of 5120 was formed in the morning itself.
Also, it has brought to forefront the usefulness of doing EW counts alongwith trendlines & momentum as these two had clearly indicated a negative bias in Nifty.

Now the Counts stand as:
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)= 5229-5057* target is 4930
5229-5121=108
5121-5159=37
5159-5057*=102 expected to touch 4984

SL for shorts @5160

Raghu

2 comments:

  1. yes sir, raghuji ,

    one addtl. input --> intra -day basis, there may be a small bounce @ the 5015-5033 zone :-)

    urs
    SMO

    ReplyDelete
  2. good morning raghu ji

    can it be alternately labelled as this :

    5382-5201=A

    5201-5326(5317)=B

    5317-5141= a of C (176)
    5141-5229= b of C
    5229-5053= c of C (176)

    (this is not my reading..sharing a friend's view)

    ReplyDelete

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