First of all EW labels:
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In the diagonal in play, sw5>sw3>sw1 so minimum for sw5 was calculated at 5307.
Those who are long must keep TSL at 5281.
And try to square off at 5320-5325 levls.
9.25 AM
A breakdown below day's low of 5324 should be used as a shorting opportunity.
(i)=5190-5340*=150
(ii) to retrace 50% means a target of 5265
Notice the indicaters in overbought zone. Laggards they are so x-overs would confirm later.
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11.30 AM
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12.20 PM
First x-over noticed in Stoch(21,3)
1.13PM
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Stop loss for shorts at 5342
2.15 PM
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2.28 PM
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3.15PM
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First target(to fill the gap has been done)
And we donot look like going below 5291.
So donot carry your shorts overnight'
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Longs advised only above 5334
EOD
As of now it is an ABC complete---
A=5342-5316=26
B=5316-5334
C=5334-5294=40(153% of A)
But both options are open---- an opening below 5290 would mean that it was not ABC but 123 in play.
And an opening above 5334 would mean that it indeed was ABC.
.png)
And lets see what our indicaters are saying?
These have turned distinctly bearish:
Closing was below 5Hr.Low EMA;
MACD & Stoch have shown negative x-overs.
But EW confirmation for more bearishness would have come only below 5290.
As it did not come,I closed my shorts.
Raghu
.png)
In the diagonal in play, sw5>sw3>sw1 so minimum for sw5 was calculated at 5307.
Those who are long must keep TSL at 5281.
And try to square off at 5320-5325 levls.
9.25 AM
A breakdown below day's low of 5324 should be used as a shorting opportunity.
(i)=5190-5340*=150
(ii) to retrace 50% means a target of 5265
Notice the indicaters in overbought zone. Laggards they are so x-overs would confirm later.
.png)
.png)
12.20 PM
First x-over noticed in Stoch(21,3)
.png)
Stop loss for shorts at 5342
2.15 PM
.png)
.png)
.png)
And we donot look like going below 5291.
So donot carry your shorts overnight'
.png)
EOD
As of now it is an ABC complete---
A=5342-5316=26
B=5316-5334
C=5334-5294=40(153% of A)
But both options are open---- an opening below 5290 would mean that it was not ABC but 123 in play.
And an opening above 5334 would mean that it indeed was ABC.
.png)
And lets see what our indicaters are saying?
These have turned distinctly bearish:
Closing was below 5Hr.Low EMA;
MACD & Stoch have shown negative x-overs.
But EW confirmation for more bearishness would have come only below 5290.
As it did not come,I closed my shorts.
Raghu
Raghu Ji,
ReplyDeleteIt is mentioned in EOD 17.04.2012 - if correction starts after testing 5340 it may be furious & big.
Please educate us as to which environment prompted this conclusion.
C upwards from 5136 can move up as Impulse or Diagonal.
DeleteIn case of Impulse:
C1=5136-5278=242
C2=5278-5184=194
C3=5190-5342* in progress as 5 wave form
(i)=5190-5342*
(ii)=retrace 50%-62% of (i)
(iii) to come up again-----
In case of C as a 3*3*3*3*Diagonal counts will be different.
That would mean a faster and deeper Corrective---
Thank Yo9u very much Sir
DeleteSir
ReplyDeleteIntraday view
1 5342-5326.5
2 5326.5-5339
3 5339 - in progress
Kindly correct if the labelling is wrong?
Smallest degree waves---very foxy---but just for academic interest--
Delete1 5342-5326.5
2 5326.5-5339
3 5339 - 5322
4 5322-5334(i.e. gone in territory of 1) should not go above 5339) then would come down to complete a diagonal---
HI Raghuvanshi,
ReplyDeleteI just came across your count, 3rd wave usually starts from as 1-2,1-2,1-2 before we break up. So we could be making a series of 1-2's from 5184. whats ur opinion on this
regards
vikram
my views have already been illustrated in yesterday's posts---nothing new to add--
Deleteshould we short now CMP 5322
ReplyDeleteIf you promise to share profits-----I would answer that----
DeleteAnd mind you,no sharing of losses-----HHHHHH
short at 5320 SL 5342 may be ist tgt 5305 200EMA
DeleteGap fill at 5297----at least wait till there---:D
Delete5 ends at 5315 correction underway
Deleteafter ABC free fall?
Super Duper Raghu :) As good as ever. Thx.
ReplyDeleteThanks sir
ReplyDeletebooked at 5297
now long in small qty
One important thing i just noticed
ReplyDeleteBreak up of 3
1 5183-5293.40
2 5293-5222
3 5222-5342
4 5342-5293.45
Now as per rule 4 should not enter the region of 1
so if tommorrow's low is less than 5293 then the above labeling stands invalidated
Your comments please
Dear Sameer,
DeleteIf you go through my posts( and it is very clear that you have not gone through them)you will find that I am Counting it as:
1 5190-5253=63
2 5253-5209
3 5209-5293=84
4 5293-5222
5 5222-5342=120
since yesterday, I am drawing it, illustrating it and mentioning it. But you were not into it so you are asking again.
Anyways, it completes one set of 5 waves which has been labelled C3(i) by me.
This C3(i)=5190-5342=152 was today retraced---
5342-5293*=49=32.5% and can go upto 5191---
But as minimum has been done and a 3 wave form can be ascribed to this downmove =5342-5293 in following manner:
A=5342-5316=26
B=5316-5334
C=5334-5293=41=157% of A
so it can reverse also from here.
However if tomorrow we go below 5290 then this count would become
A=5342-5316=26
B=5316-5334
C=5334-5290=44=169% of A which is invalid as C can not be more than 162% of A.
In that scenarion,we shall have to count the downmove as:
A (a 5 wave form) in progress:
1.=5342-5316=26
2.=5316-5334
3.=5334-5290*
4.======
5.======
Then B upwards would retrace it.
Then C would take it down again---
Then only C3(ii) would get completed---
However,if we do not go below 5293 but go above 5334 then
C3(i)=5190-5342=152
C3(ii)=5342-5293=49
C(iii)=5293--upwards by minimum 1.62*152=246 would come in play---
:-D