Tuesday, July 12, 2011

Update for Nifty Trading



Update Post for Nifty . Check out the self explanatory Charts-















Probability of Upmove in near term, to be Resisted at given levels above. Reaction at these levels will decide further trading action . Bias down below SAR of 5625.
Be prepared for test and whipsaws of crucial levels.

Read the charts in tandem with the Weekend Post's broader insight - Click Here

10 comments:

San said...

Good Post AAR VEE.

cooldent said...

Nice

Prabakar said...

Thanks for a clear view RV.

vj said...

Thanks AARVEE

piyush sharda said...

good one rv

Kumar Technicals said...

Dear RV!

As usual, very clear & easily acceptable charts. Good work, Keep it up:)

Rgrds

Kumar

nifty said...

Thanks Aarvee.

I got a bit confused with your EW notation.

What does 5-a-B and A-b-B stand for ? I just don't get it, no matter how hard I try.

Could you elaborate a little bit on it please.

SK said...

Good work RV. Is it possible to put the present position on long term Elliott chart with a "We are here now".

AAR VEE said...

@San ,
Thanks Buddy

@Cooldent,
Welcome and Thanks

@Prabhakar,
Thanks

@vj,
Thanks

@PS,
Thanks

@Kumarji,
Thanks for the good wishes.

AAR VEE said...

@ nifty & SK,

U will have to go to my long term count that i have been following.
I try to update them regularly as they develop every week or at imp. turns as i see them . The link is on the sidebar in the 'Reference posts'-

http://aar-vee.blogspot.com/2011/06/elliott-wave-analysis-for-nifty.html

We may be in the B wave of the second zigzag (A ended at
5195) .This B is retracing the downmove of A (5944-5195)in higher TF,now this larger B will divide into three legs ,out of which the first leg up ,'a'(five waves), may have been over recently at 5740 and we are in the secong leg down ,'b'.This 'b' may have finished its first down 'A' at yesterdays low hence A-b-B.This b-B may be a complex correction as its a correction within a correction of larger TF ,so i wrote in weekend post that it will test the levels and whipsaw them as tug of war will be on.

There are alternate counts too,which i have loosely mentioned in a post before last weekend,but not considering them now.

for detsils U may have to refer the developing counts in the previous posts.

Thanks

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