iCharts Discussions

[hasten]

EW helps us position ourselves before big moves in stocks and indices. Infosys and nifty tanked today.


Regards, hasten

There is a way to do it better-- find it.

[prasenjit]

excellent charting hasten......once again....

[hasten]

Gold may have completed a very big corrective pattern here at [y], or we may be forming a leading diagonal in Gold, which will complete at I?. A third possibility not shown on the chart, is that of a series of 1-2/1-2 waves, and we can expect extreme falls once this 3 wave move is done. The current 5 wave move at (1) or (a) will be retraced by a 3 wave correction to (2) or (b), but if we keep on falling and take out the low of this 5 wave advance shown by [y] from these levels then its definitely a 1-2/1-2 formation, and then we may see much much lower levels on Gold.



Regards, hasten

Let us not depend upon the world for pleasure.

[hasten]

Nifty consolidated today. But in that consolidation it may have formed a rare pattern, that of an "expanding leading diagonal", this pattern is typical at the start of major bear markets. If this is to be believed then we are in for a major crash tomorrow, or day after, once the consolidation in wave 2 is done with. Meanwhile Banknifty is shown stupendous strength, and may skew the patterns in Nifty. So please maintain your stop losses in Nifty, above 4900 levels. This particular chart formation was not clear on hourly chart, hence I used the 10 min chart today.


Regards, hasten


Making money in trading is not the hard part, KEEPING it is !

[nsinojia]

with my limited knowledge of ew ... what i believe is expanding leading diagonal pattern starts only after completion of wave 5 ... i may be wrong ... i m bullish if 4807ns not breached on eod basis targeting to 4933-5227 ns / as describe by THOMAS BULKOWSKI ..this pattern can be decided by slowing of price change in 5th subwave relative to the third, by contrast . in developing first and second waves, short term speed typically increases and breadth often expands.

[gurumrao]

Hastenji .... thanks a ton. Good insight. - Guru

[prasenjit]

wish nifty also follow ur chart....... ...great work.....

[hasten]

[KatrinaaDP]

hasten Sir, namaskar tell us any nifty positional trading charts patterns

[hasten]

[hasten]

Nifty invalidated our 'bearish pattern', but not our 'bearish view' YET!

Nifty invalidated our 'Leading Diagonal Pattern' today, but that does not mean our bearish view on market is invalidated too. Our bearish view is still valid and let us see what possibilities markets have in store for us.

1. We may have completed a 5 wave move in wave {c} of (4). If this scenario plays out we will fall hard tomorrow and at least effect some retracement of this 5 wave up move in wave {c} of (4). And if we take out 4780 levels on the down side then we are in for much bigger falls. Right now 4780 is critical and we have to watch the prices around this level..

2. We may not have completed the wave 4 of {c} yet and may be forming an 'irregular flat' pattern. If this pattern is forming then we will see prices coming back to the area of 4800 - 4780 levels tomorrow in wave [ci] of 4 of {c}. And will move back up to complete the wave 5 of {c}, if we get support for prices in this range. This is our alternate count, but is possible.

But there are factors which support the first view of 'bigger falls', as MACD has made a divergence as well as a bearish hook on hourly chart. Also RSI is showing negative divergence. So this will cause some pressure on the prices. Now we have to watch the prices tomorrow with these two possibilities, and if Nifty takes out 4915 - 35 range on the upside tomorrow with confidence then we might conclude that this bearish view of mine needs to be reevaluated.


Disclaimer :This is my personal opinion , this is not a solicitation to buy or sell. I do not accept responsibility for financial decisions taken by any forum member . The aim is to provide a reasonably accurate picture related to opportunities based on technical charts. Please be confident on yourself too before investing.


Regards, hasten


In the long run there is only one winner in the market. Broker. I win he gets. You win he gets. I lose he gets. You lose he gets!! [/i]

[rk_a2003]

In the long run there is only one winner in the market. Broker. I win he gets. You win he gets. I lose he gets. You lose he gets!!

Look at your contract you will be knowing State is charging you more than your broker in the form of the taxes on your trades and you have to pay IT again if you are a net gainer.So ammend it... The winners are the State and the Broker.

[vinay28]

hasten, why are you limiting your timing to tomorrow only for the two levels you have given on up and downside? It can be day after also or day after that?

RK - why are you suddenly so philosophic?

[KatrinaaDP]

[katrina kaif]

Thanks a lot hasten sir not only for thread, also the topic too (elliot wave)
the topic which I think I was looking for in 'ichart' and other forums. Daily,I saw your Hard work.Thanks Sir. really appreciated for your effort.