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Sahil_investor · White Belt Joined: 08 Jun 2011 Posts: 97

The thread is an attempt to share what I see and learn from fellow traders.

Nifty moving North towards 6339. Everything looks positive.

Above 6269:6339
Below 6223:6142,6134,6093,6079
5/12/26ema:6195/6145/6046
Week:
5/12/26ema:6057,5931,5863

[Content Edited by Admin]

smartcancerian · Yellow Belt Joined: 07 Apr 2010 Posts: 542

Sahil_investor · White Belt Joined: 08 Jun 2011 Posts: 97

Plan for the day
Above 6269:6339
Below 6223:6142,6134,6093,6079
5/12/26ema:6195/6145/6046
Wk:
5/12/26ema:6057,5931,586

On Day 5HEMA is at 6225-6205 and 5EMA is at 6195. Day T/f is up and signals for a Buy on dips, unless 6195 is not broken.

As per 5mins 5 up is complete, further supported by price closing below 6255-75 (HHEMA+20). Now a 3 wave fall should unfold. However price does not show any weakness on Hour chart (except STS is overbought and it may remain like that and price may even make new highs).
Hourly Key averages (21-34hr.sma) comes at 6180-6178. Unless 6178 is not crossed hourly is strong and says to buy on dips(being with the larger trend, the conservative way). Aggressive traders may look for weakness and sell on a lower high.

As per me, 2 fib.retrace are essential-
From 6223-6269. If price do not breach 6223, as it is also D.HEMA, i will look to reconsider EW labels on 5 mins.
From 6079-6269. A larger retrace will work once 6223 is breached.

End of Month is here, Staying above 6109(MHEMA) is essential to confirm uptrend on Month t/f.

Support: Below 6248(D.pivot)--6225(DHEMA)--6195(DEMA)--6171(Wk.pivot)
Retrace: 6213, 6188, 6167(23.8, 38, 50)
P. support: 6226, 6201

Resistance: Above 6248(D.pivot)--6339(Day num.)
P.resistance:6273, 6294, 6307, 6320, 6361

Sahil_investor · White Belt Joined: 08 Jun 2011 Posts: 97

NS-makes a new high. Holds DayHEMA-6225. Closes Month with Bullish Bias

Pre-market plan follow up
As per pre-market plan NS hold on to DHEMA and bounced Up.
The 1st buy signal was ORB breakout range. The breakout happened at-6255 which was also above 6248(D.pivot) with a standard 20 point SL. NS resisted at 6273 which retraced but never breached 80%(6244) and went on to make new highs.

Above 6309:6338, 6357
Below 6236:6229,6142,6134,6093,6079
5/12/26ema:6229/6168/6064
Wk:
5/12/26ema:6057,5931,5863

Sahil_investor · White Belt Joined: 08 Jun 2011 Posts: 97

Plan for the day
Above 6309:6338, 6357
Below 6236:6229,6142,6134,6093,6079
5/12/26ema:6229/6168/6064
Wk:
5/12/26ema:6057,5931,5863

Yesterday NS held D.pivot (6248) and continued its upward journey.
6079 marks the completion of either 2.3 or 4.
A 5 wave Up from 6079 will hence be 3.3 or 5.

Below counts are the subdivision of each major waves which will unfold to make 5 from 6079.

As of now 6237 is (ii) and (iii) is unfolding out of which, as per 5 min, 2nd part done at 6245.

Hence a retrace from 6245-6309 looks essential (and may change if on opening or during market hours NS makes a new high).

If in case 80% from 6245-63xx gets breached, subwaves can be reconsider and 63xx can be only then marked as (i). A retrace from 6079-63xx will then be essential

Resistance: Above D.pivot(6282)- 6338, 6357

Fib. retrace- n/a

P. resistance- 6307, 6326, 6354, 6362, 6398

Support: Below D.pivot(6282)-- 6253(DHEMA)-6230(DEMA)

Fib. retrace- 6285, 6277, 6269

P. support- 6254, 6226(WR1 turned support), 6210

Sahil_investor · White Belt Joined: 08 Jun 2011 Posts: 97

NS after making a new high, 6233 consolidates throughout the day

Above 6332:6338, 6357
Below 6287:6229,6142,6134,6093
5/12/26ema:6255/6190/6082

Wk:
5/12/26ema:6141/5989/5896

Sahil_investor · White Belt Joined: 08 Jun 2011 Posts: 97

Diwali Gift: NS reaches 6355 and closes 17 pts up.

Above 6343:6357
Below 6311:6229,6142,6134
5/12/26ema:6276/6209/6100

Wk:
5/12/26ema:6141/5989/5896

05-11: Plan for the day.
An important retrace will be from 6293-6355.
6324, 6317 is 50 and 61.8% and 6305 is 80%. Unless 34hr. sma is not breached hour is strong.
Hourly sts is overbought with -ve divergence while day sts and rsi are close to overbought levels.*

Resistance
Above D.pivot(6320)- 6357
P. Resistance- 6352, 6388, 6420,6422

Support
Below D.pivot(6320)--6287(DHEMA)-6273(21hr.sma)--6225(34hr.sma)--
6251(Wk.pivot)-6260(DEMA)
Fib: 6324, 6317 is 50 and 61.8% and 6305 is 80%.
P. support- 6285, 6252, 6146

Sahil_investor · White Belt Joined: 08 Jun 2011 Posts: 97

NS close to oversold situations in Day and Oversold with -ve divergence in hour leads to a fall, A close below DEMA and 34hr. SMA indicating weakness.

Pre-market plan follow up
NS opened at 6282 and the 09:20 candle closed at 6288. A breach of 80% retrace, 6305, first sign of weakness and signal of a larger fall which further gets confirm on breach of ORB breakdown number- 6281. The 1st fall went till 6248.(Wk.pivot:6251) and bounced.
A 61.8% Fib. retrace from 6343-6248 comes at 6307. NS made a lower high of 6304.5 and went for another fall breaking 6248.

Above 6305:6343,6357
Below 6244:6229,6142,6134
5/12/26ema:6268/6216/6111

Wk:
5/12/26ema:6141/5989/5896

Sahil_investor · White Belt Joined: 08 Jun 2011 Posts: 97

NS Plan for the day

Above 6305:6343,6357
Below 6244:6229,6142,6134
5/12/26ema:6268/6216/6111
Wk:
5/12/26ema:6141/5989/5896

Price has fallen below 34hr.sma and 5DEMA. Day STS and RSI are with a negative crossover indicating bearishness. However D.macd still needs a follow up sell to give a negative crossover, 6222-6202(5D.LEMA-20) and 6216 (12ema) is the next important day support.

Support:
6267(D.pivot)>6247(Wk.pivot)>6222-6202(DLEMA-20)>6233-6197(5Wk.HEMA)>6216(12ema)

Trendline: On hour there is a support trendline(Connecting 5701 & 6079) and parallel line (from 5826). Values-6239-40 and 6179.

Fib: Important retrace will be 6079-6343. 6211, 6180 is 50-61.8%. A breach of which may fall towards 6132(80%). Breach of 6132 further confirms bearishness (I will only then look to reconsider EW counts) and vice-versa.

P.support: 6230, 6207, 6150

Resistance:
6267(D.pivot)>6281(21hr.sma)>6290-6310(5D.HEMA+20)

Fib: none, If price go above D.pivot or does a corrective rise will look for a retrace from prev. pivot. probably from 6304-62XX

P. resistance: 6290, 6328, 6351

Sahil_investor · White Belt Joined: 08 Jun 2011 Posts: 97

NS closed the day within the support zone: 5D.LEMA-20 and 12ema. No Divergence/Reversal yet on hour, bearishness remains.

Above 6270:6343,6357
Below 6209:6142,6134,6093,6079
5/12/26ema:6251/6216/6119
Wk:
5/12/26ema:6141/5989/5896

Sahil_investor · White Belt Joined: 08 Jun 2011 Posts: 97

Plan for the Day

Above 6270:6343,6357
Below 6209:6142,6134,6093,6079
5/12/26ema:6251/6216/6119
Wk:
5/12/26ema:6141/5989/5896

Yest. NS had another bearish day which turned down Day macd. However price closed just near to 12ema(6216) and is well above 26ema(6119).

Support:
Below 6231(D.pivot)->>6218-6198(DLEMA-20)>>6168(Dev.WK.EMA) Fib: The larger retrace, 6079-6343, has 6211 and 6180 as 50% and 61.8% and 6132 as 80%.
P. Support: 6193, 6171, 6150
Trendline- On hour, close trendline supports numbers are- 6200 and 6177.

Resistance:
Above 6231(D.pivot)- 6265(34hr. sma)> 6251(DEMA)> 6271(21hr. sma)> 6283(DHEMA)
Fib:
As per 5min. prices are inside a channel. Last pivot is at 6248, hence a retrace (6248-6209) will be essential. 61.8% at 6234 and 80% at 6241.
Upper trendline of channel is at 6241 and may come down if price move down inside the channel.
A break of channel or fib. retrace should be used as part-booking or exit as price may bounce and should be monitored with a larger retrace (6304-6209).
P. resistance: 6253, 6291, 6314

ritapandit25 · Black Belt Joined: 04 May 2013 Posts: 2926

Sahil NS for 8/11 ?

Sahil_investor · White Belt Joined: 08 Jun 2011 Posts: 97

Was away due to work.

Nifty Continues its fall, Below WEMA and is continuing its fall towards WLEMA Zone(6024-6039)

Above 6142:6229,6252,6343
Below 6068:5971,5957
5/12/26ema:6160,6182,6122
Wk:
5/12/26ema:6141,6012,5914

I reconsidered the weeks EW count and i believe the alt.scenario may be in place and will be the preff. count only when 5829(80% fib. retrace from 5701-6343) gets breached.

In regards to the more than 2 EW counts in NS-Hour. I will keep the count as it is and will follow the price unfolding from 6343 using fib. retrace, I am looking for how price unfold further and will rely more on Avg's and Indicators to guide me throughout the coming trading days.

Sahil_investor · White Belt Joined: 08 Jun 2011 Posts: 97

BN goes below Wk.EMA and is reaching towards next important support 5wk.LEMA zone (10507-10563) and 10690(wk.12ema)

Above 10940: 11034,11219,11286,11736/11812
Below 10674: 10537,10071,10037,9587
5/12/26ema: 11027/11080/10872
50/100/200sma:10397/10504/11342
Week
5/12/26ema:10928/10690/10843

manojkr78 · Green Belt Joined: 07 Mar 2011 Posts: 1014

does nifty levels change today.....