From yesterday's EOD post mentioning various Probabilities, My pick is:
Levels to watch tomorrow are
4982.05 on the upside and
4906.2 on the downside.
My bet is on 4906.2 getting breached and then testing 4845.
I am looking at the downmove from 5020 a a Diagonal first wave:
(i)=5020-4945=75
(ii)=4945-4982
(iii)=4982-4883=99
(iv)=4883-4947*
(v) down again by more than 99
A tick above 4978.7 would invalidate this Count
9.50 AM
4906 breached.
I am ready for 4845.
Stop loss for shorts now at day's high.
10.45 AM
2.05 PM
Getting close to target.
Once this Diagonal 5020-4845* gets completed,its retracement would start.
So a long position should be created for targets of 80-90 points upmove
Levels to watch tomorrow are
4982.05 on the upside and
4906.2 on the downside.
My bet is on 4906.2 getting breached and then testing 4845.
I am looking at the downmove from 5020 a a Diagonal first wave:
(i)=5020-4945=75
(ii)=4945-4982
(iii)=4982-4883=99
(iv)=4883-4947*
(v) down again by more than 99
9.50 AM
4906 breached.
I am ready for 4845.
Stop loss for shorts now at day's high.
10.45 AM
Getting close to target.
Once this Diagonal 5020-4845* gets completed,its retracement would start.
So a long position should be created for targets of 80-90 points upmove
2.40 PM
Relish the profits from the shorts.
:-)
EOD
Now Monday should see a retracement of this Diagonal 5020-4832=188
50% retracement=94=4926
61.8% retracement=4948
Raghu
guruji,
ReplyDeletesl for shorts shud be yesterday high for safety i think so.
I agree
ReplyDeleteI am a great believer in booking part profits.
DeleteIt may lead to less profits at times but never lets a profitable position get changed to at par or loss.
ok guruji got it
ReplyDeleteSIR
ReplyDeleteSlowly and studily getting your COUNTS to 4848
SIR good after noon
ReplyDeleteplease explain the calculation of 4906.2 and 4978.7 if time permits.
guruji
ReplyDeletetill 4845 5th will be shortest and 3rd extended vis a vis 5th
(4879-4849.5)??
how did u get 4845 in morning??
it shud be a 3*3*3*3*3 diagonal so frm 4847 shud be 3 wave so question invalid
ReplyDeleteAaam ke aam;guthliyon ke daam !!
Delete:-)
Guruji what should be stop loss for long positions?
ReplyDeleteI am using 4831 (last low)
Difficult to catch bottom.So just carry over the longs to Monday.
DeleteOn Monday,today's low would become the Stop-loss for longs--
Guruji
ReplyDeleteThanks for your handholding and valuable guidance.
Most of the other Greats advised to carry shorts since the Nifty and BN both closed below the SAR levels.
Could you throw some light on the same ?
This is my second query to you.The first one remains unanswered.
Please do reply.
Dear Manish,
DeleteI donot reply to only those queries which have obvious answers.I go by only two-three criterions:
1.Is the wave complete?
2.If yes,then is the momentum indicater also pointing to its completion by going deep into oversold/overbot territory.
3.Is there any trendline/major ema in the vicinity of the wave-ending point.
As my reading tells me that Diagonal is complete(details can be seen above),RSI-14 in Hour chart has gone into oversold zone and one joining the previous lows of 4789 & 4804 the resultant trendline is testing today's low--- so I say a retracement of 50-62% of Diagonal=5020-4832=188 is due on Monday.
As far as Greats are concerned,I try to follow the only Great that I know---Markets--and they tell me that to earn in markets one has to develop ones own thing--so do it as soon as possible. Use all information to know/understand concepts and shun all opinions. Develop your own opinion based upon various concepts and enjoy the fruits--
:)
Guruji
ReplyDeleteBlessed to have your reply.
Wish you a Great Weekend.
Thanks and Regards Always !