Seems to have been quite volatile day.
Though the end result looks pretty close to what was identified by me,intra-day volatility would have definitely caused turbulence among Nifty watchers.
All I would say is: Jai ho EW kee !!!
Now the total downmove from 5498 has completed a 3 wave form:
And on a higher degree,this pattern can be seen as:
Probability 1:
.png)
Probability 2:
.png)
And it has been my observation that on these points the gap-up or gap-down resolves the issue.
So no need to lose sleep over it.
See you all on Monday morning.
Raghu.
From to tomorrow morning onwards I am starting on a 2 wk tour of Rajasthan travelling through Jhunjhnoo,Bikaner,Jaisalmer,Jodhpur,Mt.Abu,Udaipur,Chittor,Pushkar and back.
Try to catch up with mkt every morning.But would not be able to trade.
Lalu Prasaad ji,will I be able to get your blessings?
Though the end result looks pretty close to what was identified by me,intra-day volatility would have definitely caused turbulence among Nifty watchers.
All I would say is: Jai ho EW kee !!!
Now the total downmove from 5498 has completed a 3 wave form:
And on a higher degree,this pattern can be seen as:
Probability 1:
.png)
Probability 2:
.png)
And it has been my observation that on these points the gap-up or gap-down resolves the issue.
So no need to lose sleep over it.
See you all on Monday morning.
Raghu.
From to tomorrow morning onwards I am starting on a 2 wk tour of Rajasthan travelling through Jhunjhnoo,Bikaner,Jaisalmer,Jodhpur,Mt.Abu,Udaipur,Chittor,Pushkar and back.
Try to catch up with mkt every morning.But would not be able to trade.
Lalu Prasaad ji,will I be able to get your blessings?
thanks a lot for your analysis. your effort has been a boon to novice traders like. keep up the good work.
ReplyDeleteLalu ji is also busy it seems!!!! no time to check the blog!!!
ReplyDeletethankz raghu ji...you are wisiting rajasthan best of luke
ReplyDeleteguruji,
ReplyDeleteconsidering its a wxy count with B going above 5498 then c down will start.
w 5498-5363 135 points
x 5363-5445 82 points
y is looking like a diagonal 333 with sw5>sw3>sw1
sw1 5445-5341 104
sw2 5341-5432 or 5414 (which one we shud take??)
sw3 5432 or 5414 - 5308 124 or 106.
till now it is forming copy book as u told. even if other type of diagonal .62 of sw1 shud be done shudnt it?? so the pattern not complete and it shud go lower even if it its still in B? now u can tell whether my analysis is correct and wrong ??
and all the best for ur trip.
Dear Piyush,
DeleteIt seems you have not niticed the WXY labels on chart posted by me.
W=5171-5498(not 5498-5363(as written by you);
X=5498-5305
Y to start upwards as a 3 wave corrective
guruji
Deletemy apologies for not noticing. whatever i learnt
frm ur writings i tried to apply in 5 min charts.
if time permits u can u check it and tell me possible
errors
if its a 3 wave down frm 5498 and c frm 5445 unfolding as diagonal looks like one down leg pending. in addition no divergence even in intra charts. gap 5243-5291 shud be tested (not a rule
but observation) atleast on intra basis. class c divergence in hour fmacd and 9 h rsi which are weak reversal setups. so ew (bullish case), momentum and price action (gap) all point to lower levels by my very limited understanding.ur bearish ew case gives below 5171 anyway.
however there has been few instances when i have given my view on ur blog and market has done the opposite. this is a disclaimer frm my side so nobody gets serious with my views.
Dear Piyush,
DeleteYou have to keep shifting from 5 min to hour charts for proper labels.At times 5 min charts can be confusing also.
Now take the downmove from 5629.
A=5629-5171
B has two probabilities:
Prob 1:
B continues as WXY
W=5171-5498
X=5498-5306*
a=5498-5363
b=5363-5446 ended at 5430
unfolded as running flat 3*3*5
5363-5446
5446-5346
5346-5430
c=5430-5306*
Y yet to start
Proba 2:
B over at 5498(=5171-5498)
C started:
(i)=5498-5363
(ii)=5363-5446-5346-5430
(iii)= 5430-5306*
5430-5306=124
this may get retraced by max 80%=100 points
Then down by min 162
Thus my benchmark is 5406.Going above it would mean WXY otherwise C continuing below 5171..
thank u guruji and sorry for the inconvenience caused
Deleteto u for having to write ur post(this comment looks like part of tomm trade setup views) early.
Dear Raghu ji,
ReplyDeletePranam.
I have some observations regarding EWaves. please guide me about following study.
--------------------------------------------------------
Motive waves.
---------------------
wave 1 = 1
wave 2 = .618*w1
wave 3 = 1.618*w1
wave 4 = .382*w3
wave 5 = 1*w1
-------------------------------------------------------
Corrective waves.
-----------------------
Zigzag
A = 1
B = .382 to .618*A
C = 1*A
--------
Flat
A=1
B=1*A
c=1*A
----------
Expanded Flat
A=1
B=1.23*A
C=1.50*A
-------------
Running Flat
A=1
B=1.23*A
C=1*A or .76*A
--------------
Irregular
A=1
B=1.23*A or 1.50*A
C=1.62*A
---------------------------------------------------
Please guide me.
Many Regards.
Please remove word verification if possible.
Jeevan.
Wishing you a very Happy & safe journey.
ReplyDeleteAre u not covering Salasarjee ?
Regards