Not able to post the Hr chart as zignals.com is not updating today's data and nseindia's chart can not be reproduced here.
Of the two counts being mentioned by me for last 2-3 days,one -- the conservative upmove WXY count--- that was taking us upto 4823(optimally) has played out however we can not as of now say that the relief rally is over as 4693 has not been breached on the downside.
Today's downmove so far can be best seen as a 3 wave pattern:
4800-4751
4751-4772
4772-4723
If tomorrow's trades breach 4772 on the upside(4772.5,to be exact)we may be in for some more small-range bound move as further corrective combos and for the bullish outlook 4843 needs to be broken on the upside.And if 4693 gets breached on the downside,we would hurry to sub-4500.
So SL for longs is 4693
SL for shorts is 4773.
Raghu
Hanumanji
Jai Hanuman Gyan Gun Sagar Jai Kapeesh Tihu Lok Ujaagar Ram Doot Atulita Baladhaama Anjani Putra Pavanasuta Naama
Raghu ji,
ReplyDeleteAny say on where the expiry would end at?
Regards,
Gautam
Gomzi,
ReplyDeleteMkts management peaks around expiry with the aim of trapping & squeezing weak hands.After 20th,I opt for next month's F & O and follow each wave as it comes.Why try to predict?
Dear Raghu ji,
ReplyDeleteWell said. Will follow the same strategy which will help in adhering to WWji's rules as well.
Many thanks,
Best Regards,
Gautam
Dear Raghuji,
ReplyDeleteGood analysis..thank you