The first set of 5 waves to the down is either over or would be over around 5350-55.(Its confirmation would come with a tick above 5398
.png)
Those still holding shorts should either square them off at 5360 or keep at TSL at 5398.
A tick above 5398 would mean that first 5 wave set is over after playing 5498-5363=135 and would get a retracement of 38-80% thus upper limit is now at 5470.
The wave form expected to play out today has been shown in following chart::
.png)
Lets see how we open---
9.30 AM
10.25 AM
Sadly today also I have to leave for my pending personal work.
Best of luck everyone.
Raghu
.png)
Those still holding shorts should either square them off at 5360 or keep at TSL at 5398.
A tick above 5398 would mean that first 5 wave set is over after playing 5498-5363=135 and would get a retracement of 38-80% thus upper limit is now at 5470.
The wave form expected to play out today has been shown in following chart::
.png)
Lets see how we open---
9.30 AM
Best of luck everyone.
Raghu
" SGX Trading @ 5527 with open/high/low so far @ 5515/5536.5/5515 respectively
ReplyDeleteMarch 16, 2012 7:50 AM "
..... it is for information; Gap up opening?
Dear Lalitji,
DeleteSGX should be seen wrt Nifty Futures.
If we open above 5398 (spot) I would label it as a retracement of 5498-5363 which has its upper limit at 5470(80%).Thus for shorting,62% retracement point i.e. 5445 would be the best bet with Stop loss at 5471.
SORRY for quoting UNVERIFIED report from "Justnifty"
DeleteDear Raghu ji !
ReplyDeleteplease refer to the 5wave from 5499.10.
1st was 5499.10-5437.80=61.30x.618=37.95
can we treat it completed while 5th : 5397.95-37.95 (min req)=5360 But we did. 5362.40 ???
Sir,
Deletefor w4 it has been said that it normally doesnot cross sw4 of 3rd.So above 5398 I consider the Impulse 5498-5363 over.
Dear Raghu Ji,
ReplyDeleteFirst Thank You Very Much
It is apparently seems five waver from 5363 to 5447 and waves down from 5447 to 5340 - as the target is achieved we have squared off our shorts between 5355-65 it self
As it is the stand not to go long, even when it is tempting we have not gone long.
Market went up sharply ....... waiting for the confirmation to go shot once again .....
Even on a volatile day we got good returns
Thank You Once again.
Dear Raghu Ji,
ReplyDeleteOnce again we went short below 5400 (very conservative - is not it Sir) and covered the same below 5330
We are not carrying any position over night to-day
Hope we may get another opportunity for shorting around 3440-3660
Thank You Very Much Sir,
Sorry,
DeleteHope we may get another opportunity for shorting around 5340-5360