Hanumanji

Hanumanji
Jai Hanuman Gyan Gun Sagar Jai Kapeesh Tihu Lok Ujaagar Ram Doot Atulita Baladhaama Anjani Putra Pavanasuta Naama

Monday, May 7, 2012

Trading Nifty on 07-05-2012

Going by the way Asian markets have opened,we are likely to open with a gap-down.
Continuing with yesterday's EOD post:
when Ya=5342-5154=188
Yb=5154-5279
Yc can maximum do 1.61xYa=302= 4977
Other probables are(all Fibo exten)=1.236;1.382;1.5 x Ya=5046;5019;4997

Now a very valid point is, what if we go below 4975?:
Markets are supreme, and we can not "limit" it into our labels.
Then what's the point of labelling,counting & learning EW?
-- Labelling is one of the means of listing Probabilities --nothing more than that. When our labels succeed it leads to fat purses and even when they fail, that cut short our losses.

So our labels of A=4351-5629=1098
B retracing the A as WXY where the last leg Y cannot go below 4977 would become invalid if we go below 4977.
And to see a Count (which has been helping us trace Nifty for last four months) go invalid would be quite a shocker.I'm mentioning it because it is this FEAR FACTOR that we keep on talking about but fail to win(most of the time).
Whether it is really the time to "sell & go away"
or
"once in an year opportunity" ?


What lays in future, nobody knows but I am ready with my list of stocks to make some delivery based buyings. Are you ready?
9.30 AM
Breakout above day's high of 5020 should be used for going long--with SL at day's low--- a very elementary way but should be very fruitful today--

1.15 PM
Yessssssss--
1.27 Pm
While 5 min charts have confirmed the base formation at day's low, Hour chart would do it with an hourly close above 5 Hr.EMA
1.59PM
Back to wave-counting.Also 5 Hr HEMA is 5033 closure above it gives hourly confirmation also
2.20 PM
Balle-balle-- first target met:
2.35PM
2.50 PM
Trailing Stop-loss for longs at 5051.5

I would use 200 DMA--5115--- for squaring off longs for once.
3.20 PM
Although going by the momentum in Hr chaarts,a gap up tomorrow looks very likely:
A close above 200DMA would confirm taking longs home for the night--

13 comments:

  1. guruji

    if i remember correctly 6338-4720 was considered
    wxy then changed to diagonal
    if we consider again as wxy then post 4720
    a 4720-5400=680
    b 5400-4531=869 (1.28a)
    c 4531-5630= 1099 (1.616 a)
    is this abc as expanded flat rejected or
    it can still play out

    ReplyDelete
  2. what are those stocks are you going to reveal sir?

    ReplyDelete
  3. Raghu Ji,

    If possible could you please provide us the stocks ripe for rise in the next rise.

    ReplyDelete
    Replies
    1. My list was as follows:
      Adani Power-59/-
      Lanco-11.80/-
      Hindalco-112/-
      IDFC-108/-
      Sterlite-98/-
      Voltas 98/-

      Delete
    2. Thank You very much Sir,

      Out of the list we are having Hindalco & Voltas in our list

      Delete
    3. Sir,

      Is it Lanco Infra ?

      We are ammending our list as per the guidence

      Thanks Sir

      Delete
    4. Follow your own list-- donot change it now---

      Delete
  4. DEAR SIR,
    please sir ur guideline.
    wave1 5279-5189 (90)
    wave2 2189-5215 (36)
    wave3 5215-4988 (227)
    wave4 Abc which is A seems like 4988-5121.
    then b should go down 5020 or 5000.
    Then c again up.. please guide me sir..

    ReplyDelete
  5. Raghu sir

    One word. Excellent.Even this is an understatement.

    Ever since it broke 5020,it never came back

    Great job.

    ReplyDelete
    Replies
    1. Nothing succeeds like success----
      Ha-ha--- and taste of success is so sweet----
      Jo Darr gaya,samajho marr gaya---HaHaHa

      Delete
    2. Very true sir,

      More than a belief of mine,I have such a conviction of the theories spelt out by you.

      Kudos to you sir

      Delete
  6. nifty closed above 200 dma..and yb completed today
    now the 50% correction is over...and yc started...sir clear me..

    ReplyDelete

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