iCharts Discussions

[RAKA]

Hi friends this is my first post in this forum. I am attaching a chart of nifty which gives me bearish views till 26th March 09. We may see expiry at the lowest point. The target being around 2000.

[rksharma1091]

I agree with you and most of the experts in icharts and even cnbc opines the fall of market upto 2100 as the earliest becoz of election,recession,US reset etc.Keeping all this in mind I am in short position NF 2609.

regards

rksharma

[kumars]

2100 nifty any time frame plzzzzzzzzz

[mbn]

good chart and analysis except the sentence "which gives me bearish views till 26th March 09".....i hope u take my comment in a +ve way.(we never know what will happen except u r a W D Gann or same like)

cheers,
mbn

[RAKA]

Dear mbn charts let u see what u want to see. Thats the catch. I am giving u two more charts. They are equally convincing. Have fun with them.
Dear rksharma if charts work then we may see what u want to see in the month of march itslef.
And dear keshav dont get so excited, we may be wrong tooo.

[naresh1711]

Hi
Its very effective chart posting with waves markings a,b,c. you seem to have done your homework and certainley good at visualising charts, the charts posted shows either side movemnet as point (a) is unconfirmed and will remain till NS 2797.80 IS TAKEN OUT AND SUSTAINED on closing basis. expect you to display conviction along with probabilty of the trade & direction of the price movement

congrats keep it up

[RAKA]

Naresh1711 sir thanks for the comment.
As u said, in (NF3.PDF) wave [A] is not completed till it stays below 2661. Once this figure is taken out on the upside then A will be complete and we will be in the leg B. We will have to see how this B wave spans out. Based on that only we will be able to set tgt for wave C.
In my first chart (NIFTY.PDF), 3rd wave is just completed and small 4th wave has begun (this i have assumed because minimum criteria for 3rd is fulfilled). Till 2540 is taken out on the downside, we will be in the 4th wave. Once that level breache, 5th wave will open up and that will be the extended wave (most probably), targeting October lows. The second probability is we are still in 3rd wave that means it wants to be extended wave so it should target min 2420 and after that bounce back to form 4th wave. Lets see how it spans out.
Conclusion is nifty has to cross 2661 for any upside and similarly breach 2540 for further downside.

[RAKA]

Well, Nifty formed IB yesterday. Trend is still down. If 2621 is taken out on the upside then 3rd wave completes. If 2555 is taken out on the lower side then 3rd wave continues and the target of which is 2420.
View chart NF4 enclosed herewith.

[RAKA]

Be careful near 2652 and 2736. Jai ho.

[aag]

right h&s has good volumes characteristics.

if we retrace back to the neckline levels, dont get suckered into buying longs, but initiate further shorts.

thats my view.

cheers

[RAKA]

Chances of opening of 5th wave are still alive. Lets see.