iCharts Discussions

[amitagg]

3180 hit....can hit 3140-3150-3160 and bounce intra day for 'long' 20-25 pointers. BUT real support only comes at 3060 levels.......since C wave can hit that and lower....next week.

[amitagg]

Real support of 3030-3060 has come only gap down tomorrow shall kill this support otherwise for today it should hold - intra long at 3047-3051

[amitagg]

As expected 3060 starting range held with a whiplash on downside and cmp 3130....... Exited intra longs at 3090 level

Now holding above 3147-3160tf alone slightly bullish...... it seems we shall make lower highs to 3260/3350 and higher lows to 2720/2960

[amitagg]

Shall look to buy the highs tomorrow if sustaining above 3280 and strength above 3335...... Target 3375/3425

Aggressive SL for longs (intra day) Can be 3250/3244...... Since it can then hit 3210/3222. Aggressive means one should always buy again lower.

Bearishness only below 3207 and stops for longer term positional buys if any at 3100 only ( targeting 3430 in first shot).....3150

It is in BUY mode only. ( though below 3253/3250 is can hit 30 points down)

Declines possible ONLY due to triangle pattern leg down to confuse the Bulls....... Though it should be considered ONLY in bullish territory for the week.

Shall use above levels to execute trading plan seeing price action tomorrow.

Point is higher priced buys shall give profit after a longer time and lower priced buys shall give profit earlier....... So one can space the buys if positional ......intra strategies pays better and gives relaxing time avoiding the opening gaps

If starts closing below 3100/3060 this time...... I would assume low of 2700 shall be broken.

[amitagg]

3280/3250 were mentioned below- it remained stuck here for 6 hours
3244 was mentioned below - low 3245

Now to trade Rahul above 3310 Rohan if 3325 holds Rahul below 3245
( 3212 is support and gives 30 points if 3245 goes)

Bull resistance at 3325/3337/3378...... Do not short above 3325 ( even if see a fall)

[amitagg]

Till data at 9/930 shorts encouraged since given sell on Rohan during mid day.

It is likely to give and profit Rahul sell also after7.

[AMBY]

WHAT IS NEXT TGT IN CRUDE?

[amitagg]

[amitagg]

Cmp a while back 3250 March

1) either 5 leg triangle of wave B ended at 3128 today to target 3583/3668 on upside ( where A=C)

This positional buy to be confirmed on move abone 3340-3350 levels on some sustenance.

2) or Island reversal to play on downside
Rohan method has not confirmed a buy still from the sell mode it entered today
Confluence of long tailed candles in 3270-3330 region Feb series meant a down reversal which has played over past 2-3 days

Current sell mode
(One can sell 3250 and 3290 with stop at 3350 positional)
With clear reversal buy in place above 3350 levels to target point 1 target above ( everything is possible in market and 5 legged triangle may become 7 legged etc to further confuse.......)

Closing weekly tomorrow below 3190 March shall tilt towards sell unless Monday and Tuesday next week are both positive.

In this scenario while up target is given as per EW could not identify the downwave projections so logically would keep downside target as 2950 levels

[AMBY]

THANKS FOR FRESH UPDATE,

I AM UNABLE TO LOCATE RAHUL'S POST.

[amitagg]

Market is showng resilience amidst odds and given the sharp fall over past few months can continue to rise till one starts getting bullish which no one is currently - ie even very short term players......

Cmp 3280 sustenance above 3300-3340 resistance shall give a firm push on the upside again.......in meantime market shall accumulate short sellers and force a sqUee off at 3580/3660 levels.........

Best strategy is to wait out and see where the tide swings rather than trying to guess

[amitagg]

[amitagg]

Today only range bound action may be and selling highs and buying lows order of day without need for placing tight stop losses.......if see profit book...... If see loss wait and book at cost later......only intra day!!!!

[amitagg]

[amitagg]