iCharts Discussions

DH1988 · White Belt Joined: 15 May 2007 Posts: 135

DON...thx for gold.....

hasten · White Belt Joined: 30 Jun 2011 Posts: 216

KatrinaaDP · White Belt Joined: 11 Sep 2010 Posts: 95

Thx sir we will wait

hasten · White Belt Joined: 30 Jun 2011 Posts: 216

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

thanks hasten. I was talking about a few days only. Monday for low and Tuesday onwards for high. Smile

hasten · White Belt Joined: 30 Jun 2011 Posts: 216

hasten · White Belt Joined: 30 Jun 2011 Posts: 216

hasten · White Belt Joined: 30 Jun 2011 Posts: 216

USDINR is correcting after a sharp rise from the 43 - 44 levels right until 54 odd levels. The long tern count suggests that we might have completed a wave III advance at the point marked as "Significant Top" on the chart. Or as the wise men have warned against "calling an end to a 3rd wave advance", this might just be wave (1) of an extending wave [5] of III. All this might confuse the reader, but to put it simply, if USDINR takes support and starts rising from the levels of 51 - 50 we might see a protracted rally in the near future. But if we break the 51 - 50 level band then we might easily see the correction extending to 49 - 48 levels. All this of course will depend on how the Dollar behaves.

Regards, hasten

Easy to define entry .Very difficult to define exit.

hasten · White Belt Joined: 30 Jun 2011 Posts: 216

I am presuming May 2006 top in copper as a significant top. The price action followed by the top is clearly corrective till date. We completed wave A in Dec 2008, and wave B in Jan 2011. Since then the price action is very confusing to say the least. But we can still count the fall as a five wave move. Thankfully no EWP rule is violated. Now following the wave (5) failure in [1] and retracing a zigzag in wave [2]. Wave (c) of [2] tracing out a possible ending diagonal. Once this pattern completes we will see wave [3] down, and that should be really dramatic.

Regards, hasten

They Say We Move The Markets, I Say I am Just Happy To Follow !!!!!
Market Is The Only Warfield Where You Will Surely Win Only If You Completely Surrender Yourself (to the flow)...

hasten · White Belt Joined: 30 Jun 2011 Posts: 216

IFCI is tanking for a long time now. But upon counting the waves since latest significant top we can see that IFCI has actually completed only 4 wave of the down move, to complete this down move we need another low in IFCI, and hopefully if Nifty falls from here we will get the same. A couple of possibilities are shown on chart.

Regards, hasten

You know my method. It is founded upon the observation of trifles. It is, of course, a trifle, but there is nothing so important as trifles.

hasten · White Belt Joined: 30 Jun 2011 Posts: 216

It seems that we prices have completed an important 5 wave advance in Sep 2001. Since then prices have traced out an irregular flat correction, in which wave C is 161.8 % of wave A. Also 5 waves seems to be complete in wave C of {II}. Now Hero Motors should go up from here in wave {III}. This is a beautiful chart.

Regards, hasten

I strive to put in perfect trades again and again, every time, always.

hasten · White Belt Joined: 30 Jun 2011 Posts: 216

Tata Steel was consistently coming off from the top it made in April 2010, at the levels of 740 odd. It seems to have completed the mandatory 3 waves, a minimum requisite for a correction. Also this 3 wave move ended around the 61.8% correction of the upmove. We have witnessed a sharp 5 wave move up from the point marked {II} on the chart which where we are contemplating an end to the correction. So unless this is some different pattern we cannot see yet, we are headed up from here!

Regards, hasten

The best traders have developed an edge and most importantly, they trust their edge.

hasten · White Belt Joined: 30 Jun 2011 Posts: 216

Infy posted bad results and corrected sharply as a reaction to the news. But can this be a classic opportunity to accumulate Infy for a rally close to all time highs if not above them. Well if EWP patterns are to be believed then we have a glimmer of hope that we might see the stalwart of D street back to its full glory, before the gory bear market takes its tall on it.

What I see on the charts is that from Jan - Aug 2011 we saw a 3 wave fall in wave (A) of an irregular flat correction. Then we have rallied 3 months close to 2970 levels. From this level we have completed a flat correction where wave C was effected by the bad guidance Infy posted for 2012. But looking at the chart we don't see how 2012 can be bad for Infy, if the recent lows around 2555 is protected then we may see a rally moving sharply up when markets are positive but with shallow corrections when the market is not doing too well. Is this really possible, well if we really believe what we see, then it is. But Bolton found it difficult to believe what he saw, then we cannot pressure ourselves too much, can we?

Regards, hasten

Price is the ultimate indicator. Everything else is secondary.