Hanumanji

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

Friday, December 9, 2011

Nifty EOD 9-12-2011


In continuation with yesterday's Hourly chart:
I posting today's chart:
Herein the ABC of the Corrective looks complete to me as:
A=5099-4939
B=4939-4985
C=4985-4842

Thus our Count now stands as:
W1=4639-4866=227
W2=4866-4755=111
W3= 4755 upwards and should do a minimum of 5122(=1.62*W1) to max 5720(=4.25*W1) in 5 sub waves:
(i)=4755-5099=344
(ii)=5099-4842
(iii)=4842-4918* Target now is 5400+

I know this bullish count is against many analysts and today's close below 4880 does not favour it as well but I have gone long again with SL at 4942 and also in my favorite trading stock SBI with SL at 1838. And with above counts it looks the most logical trade as well. Today's minute chart was indicating 4866 as a crucial level and as it got breached,Nifty rushed to test 4918. However,it came to trade below 4866 in closing minutes again to keep the mystery alive.




Raghu





3 comments:

  1. Dear Raghuji,

    My view is different, posting it so that u may ponder on the thought...

    In an extend W3, wud (ii) be this deep ?

    W3. (i) 4755 5100 345
    W3. (ii) 5100 4842 -258 -75%

    Bullish count is Not proven until guilty, but pls do re-look the count in ur free time for the sub fracs..

    Nothign else to say

    urs

    ReplyDelete
  2. What makes you think that other options were not considered?
    All choices of Preferred Counts are subjective,and all,mine urs,anybody else's, may fail.
    Important thing is to create a trade based on your count,and one should concentrate there so as to maximise gains as & when the Count hits the bull's eye and minimise losses as & when one is caught on the wrong foot.
    So all we should do is to mention our preferred count and views. Whether one agrees or disagrees is a subjective thing.
    Let the differences remain.World is beautiful because of them.
    :-)
    Raghu

    ReplyDelete
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