Global clues have indicated strong opening.But to what levels? Is it now in "buy at dips zone" or the retracement to sub 5191 is still a Probability?
Answer to that lies in 5341.
Breaching it would mean that retracement to Impulse 5136-5378=242 was over at 5191 and all dips should be bought into for targets 5433 and above.
Till then following charts should be our guiding light:
)
)
.png)
.png)
Those playing positional longs should keep an eye on Daily charts( and stop loss at 5day LEMA) and those playing for swings should concentrate on Hourly and 5 min charts.
9.25 AM
Its a buy on dips for target 5325
.png)
In fact,I believe we should go for positional longs with SL at day's low 5241
12.53 PM
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2.10 PM
.png)
.png)
Time to go long---
EOD:
Nothing new to add. The question bothering me for last 2-3 days was whether the low formed at 5191 was end of C2 or only the end of C2.A
That has got answered today.
C2A=5378-5191=187
C2B=5191-5306=115
C2C=5306-5186=120(0.64*C2A) thus minimum has been done & C has gone below A.
So now I can convincingly say that C2 has ended at 5186 and C3 should begin from Monday onwards.
.png)
)
None of the Indicaters, though,are supporting my statement. And that's where EW and TA indicaters differ.
Which one wins---- lets see on Monday. My main trading tool being EW,I have initiated long positions. Shall be keeping SL for longs at 5136.
Raghu
Answer to that lies in 5341.
Breaching it would mean that retracement to Impulse 5136-5378=242 was over at 5191 and all dips should be bought into for targets 5433 and above.
Till then following charts should be our guiding light:
.png)
.png)
Those playing positional longs should keep an eye on Daily charts( and stop loss at 5day LEMA) and those playing for swings should concentrate on Hourly and 5 min charts.
9.25 AM
Its a buy on dips for target 5325
.png)
12.53 PM
.png)
.png)
.png)
EOD:
Nothing new to add. The question bothering me for last 2-3 days was whether the low formed at 5191 was end of C2 or only the end of C2.A
That has got answered today.
C2A=5378-5191=187
C2B=5191-5306=115
C2C=5306-5186=120(0.64*C2A) thus minimum has been done & C has gone below A.
So now I can convincingly say that C2 has ended at 5186 and C3 should begin from Monday onwards.
.png)
None of the Indicaters, though,are supporting my statement. And that's where EW and TA indicaters differ.
Which one wins---- lets see on Monday. My main trading tool being EW,I have initiated long positions. Shall be keeping SL for longs at 5136.
Raghu
guruji ,
ReplyDeleteit has done .618 min required but it can do till 1.62. going to 5 min looks like
sw1 5306-5280=26
sw2 5280-5293
sw3 5293-5186 107 4.11 times wave 1
wave 4 5186-5235 49
wave 5 from 5219 shudnt go below (26*1.62=42) or 5177 else some higher degree downfall.
just tried to use ur analysis to look deeper. is it right?? better to think longs above 5235??
http://ewcountsatniftyparadox-specialupdates.blogspot.in/2012/04/followinglocating-impulses.html
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