Today is the first day of August series.
I am attempting--on the basis of my EW labels--following roadmap for the series:
To explain it further,I see the first half of the series oscillating in 5175-5000 range and would be paeking around 5225 .From the peak of 5225 we would fall to sub 5000 levels again by the end of the series.
Would be putting up the above chart during the course of the series to monitor our progress.
Happy trading---
12.06 PM
The (iv) of A,supposedly in play from 5033 upwards is retracing (iii)=5267-5033=234
50% reracement means117=5150--done
62% means 145=5178
This (iv) has to be a 3 wave form --abc-- but in a gap-up one is left guessing.
Ideally a gap-up means an Impulse---in current case a of (iv)=5033-5130
then b=5130-5102=28
c minimum 0.62*a=60 means 5162 should be seen---
2.38 PM
EOD
Would post the detailed Nifty probabilities during week-end---
For now,let me try looking into RBI policy through SBI charts----
.png)
Oersold on daily charts
Positive divergence on Hour chart
resting on trendline
EW says exp flat done--
Is it waiting for RBI policy to go to further down or jump-up from this perfect point?
I am attempting--on the basis of my EW labels--following roadmap for the series:
To explain it further,I see the first half of the series oscillating in 5175-5000 range and would be paeking around 5225 .From the peak of 5225 we would fall to sub 5000 levels again by the end of the series.
Would be putting up the above chart during the course of the series to monitor our progress.
Happy trading---
12.06 PM
The (iv) of A,supposedly in play from 5033 upwards is retracing (iii)=5267-5033=234
50% reracement means117=5150--done
62% means 145=5178
This (iv) has to be a 3 wave form --abc-- but in a gap-up one is left guessing.
Ideally a gap-up means an Impulse---in current case a of (iv)=5033-5130
then b=5130-5102=28
c minimum 0.62*a=60 means 5162 should be seen---
Would post the detailed Nifty probabilities during week-end---
For now,let me try looking into RBI policy through SBI charts----
.png)
Positive divergence on Hour chart
resting on trendline
EW says exp flat done--
Is it waiting for RBI policy to go to further down or jump-up from this perfect point?
GuruDev
ReplyDeleteNaman !!!
Guruji Pranaam
ReplyDeletenamskar ji
ReplyDeletesir 5150 -5130=20
means if 5130 holds we can go to 5170 by adding 40
I cannot say anything about such small spurts---I donot believe in intraday trades and try to locate wave ends to enter a trade--now I am out of all my longs and waiting for an opportune moment to short which I would surely mention here--
ReplyDeletesIR,
ReplyDeletethe move dowm 5150-5077, is looks like impuluse, , does this fit with b wave, ?
Sir,
ReplyDeleteThank You Very Much for SBI information
Expecting further enlightenment in the week end.
Sir, If possible could please through some light on L&T