iCharts Discussions

[amitagg]

[amitagg]

Nifty view:

It should be sideways for 5-10 weeks

Sideways includes 9800-10600 range if you want to call that

And after 10000 approx lower level is done ( not sure if 10151 was low ; lapse of 5-10 weeks or so shall tell)

It would after the sideways action continue with its rise.......to target levels below ( the ultimate target approx 13000) posted below

On weekly basis certain channels and moving averages continue to NOT spoil the uptrend... That is there in place STILL and have depicted same or similar pattern in past few years ......as done some wave counts and gann projections

[Niftyman]

Ha ha
Interesting post, indeed

Btw, can you please time various levels,
may be approximate, in terms of name of month

[amitagg]

March 19 2018

markets should start rallying just before 9685/9700........or higher

All investment in 9600-10300 range shall yield wonderful results (5-7 years compounded) if continued to be added proportionately ..... ( need to be fine tuned for time factor based on individual trade management)

Just in laymen terms : 7800 to 11200 (50 percent retrace)
Or 6800 to 11200 (50 percent retrace )

(9600-9000 final bottoms)

9183/9000 also other gann counts
Also for 4th end from 6880 ( calculate retraces way you think)
By most Ew counts bigger " smaller " 5th wave pending .......
Since first retraced 50 percent this leg can retrace 38 to 9500-9600 as per this
Monthly weekly 35/50 would rise from 9000 to 9600 and provide immense support in 3-4 months

please add to enjoy the 5th in months to be foretold .....

[amitagg]

March 19 2018

For very short term ( this week) -

if does not break 10060 NS then BUY 10140 target 10200 stop 10070

( IF interested in selling , sell 10030 target 9986 stop 10087)

[amitagg]

[amitagg]

[amitagg]

[amitagg]

Sell NS 9870
target 9810 / 9797
stop 9958 (may be 9933)

And

Buy NS 9962 once and if it has fallen below 9890
target 9992/10020 stop 9918

[amitagg]

A good RR matrix to be foretold for intermediate term price swings
Pls capture if can

Prognosis

Markets would touch 10240/10300 before 9600 ( support 9680)

So at 98670/90 risk 200 points gains 400 points
2:1 RR


Would update in subsequent weeks to see how it develops; right or wrong

[amitagg]

Inside story of price reading and chart formation

The swing from 10500 approx in progress now ( cmp low 9950 etc) would end before 9600

The retrace should end below 10500 ( while easily moving above 10000)

That’s when we all get to know that bottom is done

But wait

Should we not see the next leg down to see where it ends ……………above or below the LOW to be formed in this swing from 10500

[Niftyman]

Funny
Amit, it seems you post here for yourself and not for others
Like a jalebi, round round stop.

Arey bhai, whats the use of your being an analyst and posting like this
Even any amateur trader can post like this.

[amitagg]

[amitagg]

[amitagg]

38.2 retrace done at 9920/9950 levels (11172-7893-6893 which low you intend to take) reach yourself
It’s wave retraced 50 percent and this is MOST NATURAL retrace in bull market

See post of March 25 2018 below

Just to add so as not to disappoint amateur traders ; there is a pattern in which waves retrace closer to 78-80 percent for instance not breaking highs but reaching near and breaking lows but not enough and rising to closure to previous top

Therefore in Swings if you read some literature one method to see the extent of next wave is how much previous wave retraced in correction+. So like in this one if retrace came closer to high NS and lower highs being formed 10500. 10700 then Lows below previous Lowe also won’t be that much

So I mentioned previous post knowing that we are in BULL market long term above 9685 DEFINITELY ( I expected 5 waves to unfold and therefore like today’s low one more LOWER HIGH can be formed below 10500 and we fall back to BELOW today’s low but above 9685 - again as I stated before the fall below 9948 would not be much since waves are somethwat OVERLapping

So we are in GOOD uptrend IF we move above 10640 without breaking 9948 and I would say bottom is done for correction of wave 7800/6800 to 11172

However as stated above if a lower high is formed that we see some time elapse and further retrace down below today’s low

That’s all

Some corrective patterns like this in downtrend are visible in crude etc

By principle of alternaton 50 percent 38 percent retrace are falling in proper piece

Actually market is KING and therefore we trade our prognosis and then SYStem trades should be taken basis our overall prognosis

Also 10240/10000 are big Gann supports
If you read we gann

49 * 49 0= 2401(0)
(7*7) * (7*)
Perfect double square combo also visible in BAnk NIFTY to give 24000 support
25000 is already considered a important number again

Tyicpally we see a possible WHIPlash here

200 day’s averages near by

Go back past many many years history study chart action around 200 day average ::,,

It’s not easy to break 9685 therefore

I have added LONGs in investment portfolio today

8000 / 7800 is Bear market low for all times to come for me if a bear market comes now

9000 level is a good retrace level by many counts
( we would have sideways markets 8000-11000 for years if we hit 9000)

All is possible.... what’s the likely outcome and probability is very well defined to me

RSI at 30 would give good support
Weekly rsi not reached 30 yet so we can have some weeks of this sideways action

All in all pls buy if you keep generating surplus funds each month so that you can make total portfolio value larger and then see the gains on that larger portfolio value in the impending 5 the wave ( won’t just tell the length of that wave to unfold or try to guess)

Good luck ,