http://o-j-n.blogspot.com/2010/10/ew-count.html
As per this count the 5th wave of the immediate upmove has ended in the start of the month at 6225 level. Since then we are in A-B-C correction of the upmove.This correction has taken an expanded triangle pattern,as mentioned in the weekender yesterday -
http://o-j-n.blogspot.com/2010/10/weekend-analysis_24.html , and seems to be a flat one with probable 3-3-5 wave count. The 'A' ,and today the 'B' part seems to be over and now the 'C' can unfold in the 5 wave form ,with this correction ending in the 5750-5900 zone.( we know of two imp. support areas down as 5820 and 5935 mentioned yesterday).
If i am a bit early in calling the start of the 'C' down then the Point of Invalidation of this count will be the crossing of today's high .i.e. 6151 level, since this is the start of the first wave of 'C' and cannot be crossed up now as per the EW hard rule. If invalidates this count than the targets for 'B' up are mentioned in last week's link given above.
As per the above chart tomorrow morning may see a bounce up ,which may be wave 2 up of the 'C' down. This should end below 6151 .(Also as per Volume profile today 6145 is the selling area ,hence a resistance for tmrw's trading.)
As per this EW probability ,one may go short now with a hard s/l of 6151 till 'C' ends
22 comments:
Hi mok,
Have changed the color of the post background as my, oh!!so black & white charts, gets lost in the white backdrop.
PL. bear with me.
ouch, the comments got repeat posted, SORRY ... :)
hi RV, this is your place man, do what u wish,
only, i wanted to consider, it gave some visibility problem to sujatha, and thats the reason i tuned it up a little.
I will make it a little lighter, so that the white chart as well as dark letters both find it visible.
now, i just replied,
let me read your good post so that i can pocket some dough tomorrow.
:)
hi RV, this is your place man, do what u wish,
only, i wanted to consider, it gave some visibility problem to sujatha, and thats the reason i tuned it up a little.
I will make it a little lighter, so that the white chart as well as dark letters both find it visible.
now, i just replied,
let me read your good post so that i can pocket some dough tomorrow.
:)
hi RV, this is your place man, do what u wish,
only, i wanted to consider, it gave some visibility problem to sujatha, and thats the reason i tuned it up a little.
I will make it a little lighter, so that the white chart as well as dark letters both find it visible.
now, i just replied,
let me read your good post so that i can pocket some dough tomorrow.
:)
mok,
ya it can turn out to be a good risk -reward trade if fits well .since the s/l will be very near the bounce area may be 10-20 points .take it but keep the hard s/l .
dont take any out of money options as may end quite range bound till expiry.
Sujatha,
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Sujatha said...
VMS thanks for the information, but any other solution apart from this as i don't hv any RT data or live ami etc.,
October 25, 2010 7:15 PM
AAR VEE said...
Sujatha,
Pl. download GCI-MT4 free software and u can see all the TF -5,15,30,hr,4hr,day,week,month Live but only for NF.U can set the above parameters and more.
If u remember AZ brought this to our notice and has a post on OJN-1 for its download.
Its very helpful.
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RV,
Sujatha
if both of you see the color background i have set NOW for Posts,
it would be nice.
i will tune it as i get the feedback,
thanks.
RV, since u r online, please check and confirm.
mok,
preferable was previous setting ,have no problems with the alternative.let the lady take the call
Yeah, not much choices either at the adjustments section.
We will try more into it when we have time.
She could not read certain letters like the comments etc.
May be it was too merged up - the background and letters colors.
Lets see. Thanks RV.
Earlier in the ojn1 manu asked for some changes since he could not read on the mobile screen.
RV,
you make waves :) for me it is EastWest.
I will simply take your analysis.
Ok, i came across this other chart I am mailing you.
Guess it is Wolf or Harmony or Gartlely. If you are able to make use of it.
Hi RV,
As always, nice analysis ...
I have few opinions to your observations!
1. [A]-[B]-[C] is more of a zig-zag than flat as amplitude of [A] and [B] are quite different. [A] as a flat, [B] the intermediary corrective one and [C] perhaps another flat.
2. In either case [C] breaching the level of 5850 (in fact 5900) will make the whole TA bearish in long-term!
3. The above pattern will also indicate that we are in (B) wave from the end of 2008 and not in a fresh 5-wave journey!
4. In many of the front-line stocks (Cements, Sugar, Pharma) I see quite bullishness!
Regards,
Rajib
Hi all,
Keep up the good work.Its all refreshing to view unbaised views for Nifty on this site.Kudos to all who put in their efforts to paint the correct picture of markets.I follow the EW count on this site feverently so keep posting those counts.Thanks and Regards
Hi Rajib,
Thanks for going through the post and sharing ur observations.I will try to give my perspective as per ur observations
1.We should keep in mind that this A-B-C correction is only of the immediate upmove since 5350,If we take a longer view it will be the 4th wave of upmove since 4786.u will see it fitting the wave structure well.
2.TA in the long term will turn bearish only below 5350 level:) from where the upmove started.
I am expecting it to touch the 38.2% level of the 6286-5350 level at 5935 in this correction preferably.
3.Its my preferable count that we are in the big B wave which turned irregular above 5475 level.I had posted my EW observations couple of days back -reposting that
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AAR VEE said...
Hi alpesh,
U can click the label 'RV' and go through my previous posts for the preferable EW count i am following.
I like to count the immediate upmove in hourly time frame and intraday subminuette in 5 min or nseindia chart which ever is clear.
As per my count the upmove since 5350 has ended at 6225 levels and we are in A-B-C correction of this upmove in which we are running in B wave ,precisely C of the B.
In the intermediate wave since 4786 ,this correction is Wave 4 and a final wave may be left targetting 6400-6600.
In move since march 09 we are in C wave of the B, (which is an irregular one as has moved above 5475 level that was apprx 80% of A which was from jan 2008 -march o9.)
This A-B-C correction are of the 5waves started since 2003 and can be considered the 3rd wave since 1995.
Big C of this ABC is yet to unfold down.
I have posted detailed charts in one of my posts last month pl. check.
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Hope u get my perspective in different time frames.I welcome u to share ur views and charts in a guest post.It will be helpful for all.
Hi kbr
Thanks for the comments.
U are free to share ur views and observations too for the benefit of all.
AAR VEE,
None could have put the picture better than what you have done in your post.
My thoughts are the same. It is the clarity of your thought sequence and articulation which is indeed remarkable.
Wish I could imitate you.
http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID3287600&cmd=show[s190320191]&disp=P
rv bhai..
its early to say "c"
Good Morning everybody,
Watch 34 EMA , 200 SMA,n 235 EMA on 5 min chart.
Also in hrly chart NF trading below 100 SMA =6139 and above 200 SMA =6079.Key levels to watch.
Can i post my chart here ?
Vitthal.M.S.
@ Sujata
Expecting your Gann levels for todays trade.
ojn_2 AT yahoo.in - Please send it this email Mok will post the chart with your name.
And please post your views @ the first post where mok opened. i will post there i am late to market just checking the charts nd levels. will post the levels.
tks nd regards
GM MOK,
ema image is been emailed for post..
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