This is my trading file to organise and jot down my take on the market .I do Technical Analysis. This blog is to keep track of my baby steps so that I can look back at my journey .Looking back tells me how far I have come from days when I knew nothing and can go further .It gives me motivation to keep going on even when I am tired. One has to back up trading with their own studies. The charts I post here are 99% inspired from Ilango sir.
2 comments:
Dear Smita,
Ur wave count from 4770 is absolutely brilliant , if i cud give marks mus say 100/100 :-)
As usual, my crazy brain always jumps around for alt lables & it has given one more Alt count right all the way from 6339 !!
had posted this on Saturday, pls read & enjoy,
and if u dont like it throw it in the bin wid a smile :-)
W.A 6339 5178 -1161
W.B 5178 5944 766 -66%
W.C 5944 4728 -1216 105%
x.a 4728 5400 672
x.b 5400 4531 -869 -129%
x.c 4531 5630 1099 164%
Y.A 5630 4770 -860
Y.B 4770 5348 578 -67%
Going within Y.B , this Up move can play out as a 3-wave , as follows:-
Y.B.a.(a) 4770 5124 354
Y.B.a.(b) 5124 5042 -82 -23%
Y.B.a.(c) 5042 5348 306 86%
The smaller "b" wave is in play ** as a ZZ from 5348
(which tallies with 5Mn hi EMA & hence indicates a Wk T/F corrective down now)
Y.B.b 5348 5217 -131 -23%
and should ideally do @least a 38.2% retrace of 4770-5348 = 5127 , as follows :-
b(a) 5348 5217 -131 ** assumed ended on friday
5127-5137-5152-5167-5175 these are the safety nets for Nifty (also tallies with dev 5WkLoEMA @ 5150) !
Lets c if we get this value, next week... if we do wud be a High probability BUY area for the next Upmove Y.B.C (or Y.B.Y if this move from 4770 is a WXY)
cheers
Thanks Sriram ji , for your 100/100 :-D .
Will look into the other alt counts .
Cheers!
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