And continuing from yesterday's quote:
Q
Z.a=4588-4780=192
Z.b=4780-4687=93
Z.c=Z.a=192 should ideally reach 4687+192=4879 or do a maximum 4994(where Z.c=1.6*Z.a).
An attempt has been made to do internal five sub-waves of Z.c in the Chart above,
wherein an ideal 5 wave Z.c would take following form:
(i)=4687-4795=108
(ii)=4795-4696=99
(iii)=min 1.62*(i)=175=4871
(iv)=min 23.4% of (iii)=41=4830
(v)=(i)=4938
Thus we should be ready for 4900+ levels tomorrow
UnQ
And Hourly Charts show us:
Now there are two important points in the above quote:
1. Ideal Z.c=Z.a=4879 was almost done today(Nifty making a high of 4877+); and
2.After doing the (iii)=4696-4877=181,ideally the 5 wave Z.c has one last leg-up remaining which should take it up again after playing the (iv) to the down--minimum upto 4835 but not below 4795.
However, this being the last leg,one never knows whether it shall be played or not
and particularly with high voltage Infy results due tomorrow and the ideal condition of Z.c=Z.a having been already met.
Any one wishing to play this last leg-up must keep a strict SL at 4794.Personally,I believe that risk reward for longs is not very good as if & when 4795 is breached on the downside,floodgates to sub 4500 would get opened.
So I would advise shorting at rise and if 4795 is breached,it would provide the confirmation for going all out SHORT.
Raghu
raghuji,
ReplyDeletetwo possiblity i like to point out..
5400-4531 as abc or ist wave of diagonal that u r anticipating in one degree higher.
5400-4531 as one set of 5 waves.
there is 99.9% probablity u wud have considered these possiblities and rejected them. but i write them because there is no weakness in prices seen and no weakness in momentum too.if this upmove is correcting larger falls it can go quite high..
Dear Piyush,
ReplyDeleteAs I mentioned yesterday,4795 hold the key.
Being conservative,I prefer to move from one wave to next.
If Z.c goes aboce 1.62*Z.a only then I would shift my Count to what you have mentioned.If I start mentioning all probabilities,EW would be more of a toy for academic plays.As I use it for trade-set ups,I go by a single "conservative" Count.Otherwise also,I have not come across a trader who holds on to a 100+ point gain for next day.So why rush?
thank u for ur reply guruji.
ReplyDeleteu stated very appropriately abt alternate counts in ew..
'Otherwise also,I have not come across a trader who holds on to a 100+ point gain for next day.'
sirji main hu na.. mujhe pehla example likh lo :-)