This blog is my trading diary. It is an attempt to organise my analysis and thoughts. I follow the charting methods given in JUST NIFTY blog by Ilango sir and so the charts would have striking resemblance to his charts. I am indebted to Ilango sir for having made this blog possible for me.

November 15, 2011

EOD analysis Day TF takes over Hour TF



The Day TF has taken over the Hour TF. The Bullish developing pattern is as follows:
Bullish Pattern:
XA - 4728 -5400
Projected B:
50% -5064
61.8% - 4985
70.7% - 4924
78.6% - 4872

If NS gains supports at the 50 DMA @ 5060 - 5040 then the prev count will be continued Else the wave count is likely to be altered as the wave c to complete the B will be further subdivided.

Taking the EW wave count w.r.t the Hr. Smacd - the count is altered as given below:

wave a = 5400 -5201
wave b = 5201 -5294
wave c : min = wave a = 5095 - achieved
wave c = 161.8% of wave a = 4972 - corresponding to 61.8% of the Bullish developing pattern

subdivisions of wave c:
wave i - 5142
wave ii - 5227 - approx 61.8%
wave iii - approx 1.618 of wave i = 4982




4 comments:

jagannathan said...

You are doing an excellent job.You also got the appreciation from our guru.Vasishtar vayal brahmarishi.God bless you.Keep it up

satheesh said...

Thank you Sir.

Fire said...

Great analysis. Simply great...

satheesh said...

Thanks Fire. You too - doing great job :)

Post a Comment