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TECH. ANALYSIS NIFTY PROBABILITIES .... |
p_wangdu
White Belt
Joined: 30 Apr 2012
Posts: 126
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arvindeept
White Belt
Joined: 25 Jun 2012
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Post: #2  Posted: Sat Jul 07, 2012 10:12 pm Post subject: nifty daily n weekly chart |
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Nifty Daily n weekly charts suggest that the 3rd wave is on.....The same may be confirmed if nifty moves up from the corrent levels on monday.....so if correct, nifty should move to 5461 which is 168.1 % of wave 1.
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #3 Posted: Sun Jul 08, 2012 9:31 am Post subject: |
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arvind - does nifty have to go up on monday only for your conclusion?
wangdu - in your view, recent high has to be taken out in what period?
thanks to both in advance
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nsinojia
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Joined: 21 Dec 2009
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| Post: #4 Posted: Sun Jul 08, 2012 9:38 am Post subject: |
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| 61.8% at 5240 must hold in week time for any further upside to breach recent high.
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sonila
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| Post: #5 Posted: Sun Jul 08, 2012 12:43 pm Post subject: |
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| nsinojia wrote: | | 61.8% at 5240 must hold in week time for any further upside to breach recent high. |
yes, 5240 / 5250 should remain intact, for sustained upmove.
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arvindeept
White Belt
Joined: 25 Jun 2012
Posts: 107
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| Post: #6 Posted: Sun Jul 08, 2012 6:56 pm Post subject: Hi vinay |
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| vinay28 wrote: | arvind - does nifty have to go up on monday only for your conclusion?
wangdu - in your view, recent high has to be taken out in what period?
thanks to both in advance |
See, what I said is as per my understanding of technical analysis as per EW theory......The recovery from the last low to current levels is looking quite strong. Hence, I think we should refrain from being overly bearish at present, and instead focus on short term trading from the long side. There is a chance that we could drift higher to as high as even 5461, but the short term waves from the 4770 low need to develop some more twists and turns before we can place a definite target to the upisde.
Now the twists n turns next week may be:
EUROPEAN LEADER`S MEET ON MONDAY, Q1 RESULTS, IIP DATA, INFLATION DATA, AND CHINA GDP.
Please give ur views.....
Thanks.
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vinay28
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| Post: #7 Posted: Sun Jul 08, 2012 7:10 pm Post subject: |
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| that was not my query arvind. Since you stated that ".....The same may be confirmed if nifty moves up from the corrent levels on monday.....", I asked whether the upmove has to be on monday or it can be later too for your view to be right.
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arvindeept
White Belt
Joined: 25 Jun 2012
Posts: 107
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| Post: #8 Posted: Sun Jul 08, 2012 7:44 pm Post subject: Hi vinay |
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I just wanted to state that if nifty moves up from here, then my reading of EWs might be rite.....otherwise obviously the count will be wrong on my part...
Also by Monday I meant in the days to come.....
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as chart suggest if recent high is not taken out by nifty we may see retracement taken from recent low at 5090 to high at 5334 ns ... as per 2 hour chart ratio from 78.6% to 23.6% posted on chart for ready reference.
