Wednesday, November 17, 2010


Posting some updated charts to be read  with reference to the Weekend Post


mo k said...

yes, The TrendLine and 38.2 retracement. along with 100dEMA. ie. 5745
we can expect range contraction on 18th.

Looks like a play between 5975 & 6100, which would still be a possible long green retracing candle,

Else, the break 5975 towards further supports below at 89dEMA also.

Thanks RV, very powerful presentation , very useful.

raju said...

You have said that the volume in 6120 is to find the volume whether it was during down move or upmove?

mo k said...

Raju, hi,
If the volume was during price moving higher, it is an upmove volume,
else downmove volume.
If you notice a candle chart or barchart,
Volume under the bear candle [red candle] is downmove volume,
Volume under the bullcandle [green candle] is upmove volume.

about your other comment on understanding charts... like all of us you would get into this phase sooner than you think :)

Have a nice day!

alphabet1 said...

100 DEMA is higher than 100 dma = long term strong.

Until support of 5810-5785 (ichi eod lower band of cloud) broken. This coincides with fib retracement numbers. Also long term trendline joining March 2009 and May 2010 lows find support in this band.

So is this the next war Zone ? Answer lies in the pull back, if any.

Got to work on alternate EW counts, both up and down possibilities.

AAR VEE said...


thanks for adding the dollar chart above in the mini charts.u can see the influence ,i was insisting because after three days of fii selling the corelation is of more importance