Starting from Friday's labels:
A=4531-5630
B=5630-4770
C =4770 upwards in play:
As a simple 5 wave Impulse, its likely route would be
C1=4770-5190=420
C2=5190-5041=149
C3=5041+680=5721(taking C to be extended and having 5 subwaves of its own)
sw1=5041--upwards
(i)=5041-5194=153
(ii)=5194-5095=99
(iii)=5095- upwards in play
5095-5160=65
5160-5126=34
5126-5317=191
5317-5266=51
5266-5333*
Now the question is :
Is this (iii) over at 5333 and (iv) begun
And to answer that we have to look into this last wave 5266-5333*
it had looked like a 3x3x3x3x3 diagonal in foloowing manner:
and the last subwave from 5287.8 was supposed to go up by more than 60 points---5349--- to conform to a sw5>sw>sw1 diagonal.
Today if we tick below 5287.8--that would be the first indication of (iii) being over at 5333 and (iv) in play.
This (iv) is likely to retrace (iii) by 38.2% so most likely level for it would be--5242
Pl take help of trendlines also to find other support levels for this (iv)
9.25 AM
12.10 PM
12.35:
My first trade set up:
Go long above 5277.3 with SL at day's low target 5350(min)
2.55 PM
Possiblity of going below day's low are high as the upmove from 5258 has taken form of a flat:
Longs advised to be retained only above 5280
EOD:
To update the Counts mentioned at Beginning of the day:
A=4531-5630
B=5630-4770
C =4770 upwards in play:
As a simple 5 wave Impulse, its likely route would be
C1=4770-5190=420
C2=5190-5041=149
C3=5041+680=5721(taking C to be extended and having 5 subwaves of its own)
sw1=5041--upwards
(i)=5041-5194=153
(ii)=5194-5095=99
(iii)=5095-5333
5095-5160=65
5160-5126=34
5126-5317=191
5317-5266=51
5266-5333=67
(iv)=5333-5258* and though one Probablity mentioned above takes into consideration that (iv) ended at 5258 but if we go below 5254 then (iv) will continue for some more time.
Raghu
guruji,
ReplyDeletetill 5273 doesnt breach 3rd over can be confirmed b cos previous wave start frm 5273?
You are correct.
Delete4th cd have done a 3x3x3(wxy)from 5333-5281--
Donot hurry to enter a trade
I meant 4th of diagonal
Deletethanx guruji
Deletecan sstill it can trace to 535o above 5300
ReplyDelete