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Elliot Wave study of Nifty |
Raghuvanshi
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Post: #1  Posted: Sat Jun 09, 2012 8:52 am Post subject: Elliot Wave study of Nifty |
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SwingTrader
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Raghuvanshi
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Joined: 24 Jan 2012
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| Post: #3 Posted: Sat Jun 09, 2012 10:40 am Post subject: |
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Sorry. Advertising was not the intent.
Hope the chart posting will not violate any rules---- |
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Raghuvanshi
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| Post: #4 Posted: Sat Jun 09, 2012 10:57 am Post subject: |
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| Raghuvanshi wrote: |
Sorry. Advertising was not the intent.
Hope the chart posting will not violate any rules---- |
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SwingTrader
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| Post: #5 Posted: Sat Jun 09, 2012 6:28 pm Post subject: |
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Raghuvanshi,
Yes, uploading/posting charts is fine.
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Srikanth Kurdukar
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p_wangdu
White Belt
Joined: 30 Apr 2012
Posts: 126
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| Post: #6 Posted: Sat Jun 09, 2012 8:57 pm Post subject: ew eod chart |
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| as long as recent low holds nifty may head toward 5850 + levels . |
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rakeshliving
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| Post: #7 Posted: Sat Jun 09, 2012 11:14 pm Post subject: |
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| Hmmmmm i dont know much about elwave.... but 5850 is aproachable... |
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saurabhkurichh
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| Post: #8 Posted: Sun Jun 10, 2012 8:41 am Post subject: |
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| making such probable paths for nifty is easier said than done ... |
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Raghuvanshi
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Joined: 24 Jan 2012
Posts: 24
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| Post: #9 Posted: Sun Jun 10, 2012 10:01 am Post subject: Re: ew eod chart |
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| p_wangdu wrote: | | as long as recent low holds nifty may head toward 5850 + levels . |
Dear Wangduji, just attempting to take this discussion further,I feel the (ii) of C --5136-5378--is an Impulse and should not be counted as Corrective (ii)
And if I attempt to complete this Corrective (ii) by taking it as a=5136-5378;b=5378-5184;c=5184-5342(truncated c as it failed to go above a)-----then (iii)=5342-4789 no longer remains extended vis-a-vis (i) |
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Raghuvanshi
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| Post: #10 Posted: Mon Jun 11, 2012 8:28 am Post subject: |
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| In continuation with yesterday's labels, today's upmove is unlikely to go past 5151: |
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Raghuvanshi
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| Post: #11 Posted: Mon Jun 11, 2012 3:53 pm Post subject: |
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| Continuing with my Counts eod 11-6-2012: |
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p_wangdu
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| Post: #12 Posted: Mon Jun 11, 2012 6:52 pm Post subject: Re: ew eod chart |
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| Raghuvanshi wrote: | | p_wangdu wrote: | | as long as recent low holds nifty may head toward 5850 + levels . |
Dear Wangduji, just attempting to take this discussion further,I feel the (ii) of C --5136-5378--is an Impulse and should not be counted as Corrective (ii)
And if I attempt to complete this Corrective (ii) by taking it as a=5136-5378;b=5378-5184;c=5184-5342(truncated c as it failed to go above a)-----then (iii)=5342-4789 no longer remains extended vis-a-vis (i) |
hi raghuvanshi, as per ew principle all counts fine and perfect ... i have never come across anything which suggest that (iii) should be 1.62 or more than that, as far as your marking as per ew guidelines and principles. thanks for rising the discussion. |
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Raghuvanshi
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Joined: 24 Jan 2012
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| Post: #13 Posted: Wed Jun 13, 2012 8:31 am Post subject: |
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Level in focus is 5151
Breaching it would mean low has been formed at 4770.
Otherwise Probability of retesting this low is very much alive.
Monday Impulsive-like downmove and yesterday's un-structured upmove past 5124.35 have been difficult to place in overall picture and that is what markets are all about--at times giving us copy-book forms & patterns while at others baffling us and leaving us guessing.
And that's why trendlines and momentum tools have to compliment EW.
Yesterday's closure was above the four month old trendline--however that does not mean we have to blindly start going long.
A dip is very much on the cards--- if it comes after breaching 5151,it would remain limited to 4900.
If it comes without breaching 5151 then Probability of retesting 4770 is very much alive |
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Raghuvanshi
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Joined: 24 Jan 2012
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| Post: #14 Posted: Wed Jun 13, 2012 3:13 pm Post subject: |
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Channel support gives in---finally.
Time to go short |
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Raghuvanshi
White Belt
Joined: 24 Jan 2012
Posts: 24
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| Post: #15 Posted: Thu Jun 14, 2012 8:44 am Post subject: |
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Yesterday I had written:
Q
Level in focus is 5151
Breaching it would mean low has been formed at 4770.
Otherwise Probability of retesting this low is very much alive.
UnQ
There is a bit of alarm that has crept in above Count.
As we are counting:
YbA=4789-5020=231
YbB=5020-4770=250
YbC=4770-5145=375(162% of YbA)
Some of my friends have pointed out that in an Expanded Flat(where B does more than 100% of A) C can do a maximum of 1.618 times of A. Though there are few who say C can do even 262% of A in an Exp Flat ,I believe in Frost & Prechter's word who have mentioned on P89,who mention 165% of A as the limit for C in an Expanded Flat.
My guideline is---Market is supreme and may or may not follow a guideline, but we have to stick to those during our analysis. |
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