Nifty consolidated today. But in that consolidation it may have formed a rare pattern, that of an "expanding leading diagonal", this pattern is typical at the start of major bear markets. If this is to be believed then we are in for a major crash tomorrow, or day after, once the consolidation in wave 2 is done with. Meanwhile Banknifty is shown stupendous strength, and may skew the patterns in Nifty. So please maintain your stop losses in Nifty, above 4900 levels. This particular chart formation was not clear on hourly chart, hence I used the 10 min chart today.Nifty consolidated today. But in that consolidation it may have formed a rare pattern, that of an "expanding leading diagonal", this pattern is typical at the start of major bear markets. If this is to be believed then we are in for a major crash tomorrow, or day after, once the consolidation in wave 2 is done with. Meanwhile Banknifty is shown stupendous strength, and may skew the patterns in Nifty. So please maintain your stop losses in Nifty, above 4900 levels. This particular chart formation was not clear on hourly chart, hence I used the 10 min chart today.
nifty is trading in indecisive zone where to go...
ReplyDeleteBut i think bear will show supremacy...what u think...
I think other than EW noting really suggest that we are forming a top, it is kinda consensual, that precisely might be the reason why we might be at a top! :)
Deleteok
ReplyDeletei want to ask one thing do u trade for yourself or for clients
No sir! :)
Deletethen whats ur profile ,u just give analysis and not interested in trading
Deleteaniruddha can u pls advice me should i hold nifty put or should i squared it off. Nifty is not looking weak as per price but RSI showing huge divergence. Totaly confused
ReplyDeleteI feel we are close to top but what pattern nifty makes is dicy to forecast, I suggest hold the put with sl above high made on 11th Jan 2012.
DeleteThe rare EW pattern has been rarefied, the SL level for the LD pattern is hit! :(
ReplyDeletesl hit
ReplyDeleteSL for pattern is hit, now we have to take a fresh look will upload alternate possibilities EOD. Can't fight and shud not fight the market after a failed trade! :)
ReplyDeleteaniruddha i mailed u chart on nifty pls chk it and reply ur view
ReplyDeletethanks
Ur count is on the same line as that of mine but counting of waves is a little bit different, however the outcome of your count will be same as mine. Great Job!
Deletenifty falling imupusively?????
ReplyDeletewhat now? the market is acting as per your count, be happy!
Deleteyaar i have squared off puts.....and now this happened....
ReplyDeleteThat happens but if u keep trading ur plan u will come out ahead.
Deleteok lets prepare for next trade. I think after impulsive move down nifty is consolidating in wave 2 from monday onwards wave 3 will start as per my assumption. I think we should buy put on monday itself after wave 2 get finished whats ur opinion
ReplyDelete4800 - 4780 range is crucial for both bulls and bears sort of a POR now.
Deleteso we should wait for 4780 to break decisively for making new short position....
ReplyDeleteThat will depend on your trading method, I just pointed out a critical level to watch out for.
Deleteyou dont do trading ????
ReplyDeleteI do only trading but I am not aware of ur trading method thats why.
Deletei also following elloit wave along with candle stick pattern...
ReplyDeleteBut i am not doing for my own i do for my clients....
and you??? for yourself or for clients...or both...
I do it for myself!
Deletei never made money for myself hope if i follow u then something could happen..
ReplyDeleteIf you make a trading plan and then follow it definitely something good will happen!
Delete