CMP: 5296
WEEKLY T/f
CANDLES :
1. Seem to be forming a Falling Wedge / Flag type CONTINUATION PATTERN.
Will be confirmed on 2 occurances:
(i) Break out of price above RES CLUSTERS @ 5360-5370-5380
(ii) Pick up of VOLS @ Break out above UTL (again @ 5370)
Tgts for FLAG BREAKOUT On weekly are :-
T1 : 5370 + 230 = 5600 (Flag width, from Break-out)
T2 : 5370 + 930 = 6300 (Hgt of Pole, from Break-out)
These may look FANTASTIC, UNLIKELY tgts.... esp T2
One would do well to note , that no TA style or method can say with 100% surety, but one would do well to "KNOW POSSIBLE TGTS"
Anyways, let us keep an eye open as price moves in the days ahead
Daily T/f
For a change let me get into EW ...
As I see them waves for now, we may STILL be in a corrective to the move 4531-5629.
Q: Why ?
Ans: Becoz, the IMPULSE UP took 2 months (upto Mid Feb'12) . Now, Time Analysis says that one may expect the CORRECTIVE ABC to do AT - LEAST a further 2 months to 4 months (2 x time of Impulse)
Within this, may have finished wave "A" & now be doing an EXPANDED FLAT 3-wave "B" as :-
This B.c lable will look "more probable" ONLY, once we TAKE OUT 5370 ...
Till then these LABLES may pls be explored, purely as ACADEMIC MUSINGS
SMO SAR VERDICT:
SMO SAR LEVEL = 5335
We will get the 5-10DEMA BULL X-over @ 5335 & will TRIGGER THE LONG TRADE ON SWING BASIS
Pt to note:
34EMA System has already triggered the LONG TRADE @ 9:30am, Friday @ , 5238 (price closed > 34EMA,30mins & closed > 5HrHEMA)
See how the INTRA DAY trade, Morphs into a SWING TRADE & will be confirmed , once we get the 5-10DEMA BULL x-over (if close EOD > 5335)
cheers
WEEKLY T/f
CANDLES :
1. Seem to be forming a Falling Wedge / Flag type CONTINUATION PATTERN.
Will be confirmed on 2 occurances:
(i) Break out of price above RES CLUSTERS @ 5360-5370-5380
(ii) Pick up of VOLS @ Break out above UTL (again @ 5370)
Tgts for FLAG BREAKOUT On weekly are :-
T1 : 5370 + 230 = 5600 (Flag width, from Break-out)
T2 : 5370 + 930 = 6300 (Hgt of Pole, from Break-out)
These may look FANTASTIC, UNLIKELY tgts.... esp T2
One would do well to note , that no TA style or method can say with 100% surety, but one would do well to "KNOW POSSIBLE TGTS"
Anyways, let us keep an eye open as price moves in the days ahead
Daily T/f
For a change let me get into EW ...
As I see them waves for now, we may STILL be in a corrective to the move 4531-5629.
Q: Why ?
Ans: Becoz, the IMPULSE UP took 2 months (upto Mid Feb'12) . Now, Time Analysis says that one may expect the CORRECTIVE ABC to do AT - LEAST a further 2 months to 4 months (2 x time of Impulse)
Within this, may have finished wave "A" & now be doing an EXPANDED FLAT 3-wave "B" as :-
| A | 5629 | 5171 | -458 | |
| B.a | 5171 | 5499 | 328 | |
| B.b | 5499 | 5136 | -363 | -110.7% |
| B.c | 5136 | 5667 531 | 161.8% |
Till then these LABLES may pls be explored, purely as ACADEMIC MUSINGS
SMO SAR VERDICT:
SMO SAR LEVEL = 5335
We will get the 5-10DEMA BULL X-over @ 5335 & will TRIGGER THE LONG TRADE ON SWING BASIS
Pt to note:
34EMA System has already triggered the LONG TRADE @ 9:30am, Friday @ , 5238 (price closed > 34EMA,30mins & closed > 5HrHEMA)
See how the INTRA DAY trade, Morphs into a SWING TRADE & will be confirmed , once we get the 5-10DEMA BULL x-over (if close EOD > 5335)
cheers
Sir
ReplyDeletewhy long at 5150?
Reason 1
fall from 5499.5 to ???? was similar to 5629.95 to 5171
based on above assumption fall would have completed at 5110 maximum
so SL 5107
Reason 2
Camrilla L % that day was 5127 so SL 20 points below that at 5107
Reason 3
In my view correction ABC was over at 5135 why ?
A 5630 - 5171
B 5171 - 5499
C 5499 - 5135
Reason 4
Ilango Ji said to go long at 5155 if he said so it must have some reason as i have already said i dont know much about DLEMA, SAR, etc. so i relied on Ilango ji
Reason 5
50 % of rise from 4531 to 5630 is placed at 5080 and correction if exceeds 50% would negate the uptrend in my view correction would varry from .35 to .45 and never touch .50 or exceed it to keep the uptrend intact
would give my Detailed analysis of fall from 5499 to 5135 and how did i arrive at 5110 .....if u r interested
Pls do give ur comments
Sir
ReplyDeleteTry this out
Wave 1-5 4531 to 5630
A 5630-5171
B 5171 - 5499
C 5499-5135
Correction over
Now rally continues
Wave 1 5135 - 5471 (.682 of fall from 5630-5135)
hahaha...
ReplyDeleteSameer this whole 3-wave 5629-5171-5499-5135 may be a A !!
See the issue with EW now :-)
cheers