General Trading Chat

[john302928]

Hi John,

what is your view on Jet Airways and Ashiana Housing .

Hi Manoj,
Ashiana housing - It is not the perfect timing to inter in to this stock.there might be a pullback for the rally that has been happening from nov 2016,The pull back might take few more weeks to complete.Before the pull back maximum it might go around 250 zone.Once we gain confidence on pull back waves that it is corrective waves then we can confidently enter.

Jetairways- Looking good. new set of impulsive waves had begun around end of dec 2016. currently it is in wave 3. so we have 4 and wave 5 due. and then ABC correction. Ideally we should wait till that abc corrections are over. Because this is a new set of waves. and moreover 5 waves have not yet completed. currently we are in wave 3. either this could be wave 3 upside or it could just be wave c upside. we never know that. because the wave before this rally were zigzag waves, it could have been some kind of triangle. as far as triangle is concerned, you should never ever enter before the breakout unless we have lot of patience.If the current rally is going to be 5 wave rally then it will decide the direction of breakout.

I personally feel, Jetairways is making 5 waves so we can ride this wave 3 and 5. and book profit once wave 5 is completed and wait for abc correction to be over and then again jump to ride the holy spiking move in wave 3 of higher degree

 

[john302928]

I can sense what you got out of EW theory, I was also in the same situation when i started practicing few years back. I was not able to understand the art behind it. I studied the rules and guidelines and it worked for the masters and it always puzzled and went wrong for me. I couldnt realize it until i sensed that there is a clear psychology and art behind it and i had to do something about it. Even now I cant say I am an expert and understood the EW. I am just still practicing and I will always say I practice EW. But I can confidently say that I a able to comprehend the movements better than before.

That is why i said it has the simplest rules. Just 3 rules and it is difficult to comprehend.It takes hell lot of patience and time and go through as many charts as possible and be wrong as many times as possible.Initially when i started to learn, I tried many technical patterns and everything was somewhat easy to understand and apply and EW too was easy to study and when i started applying , I was getting wrong results and even i felt, EW are fooling us and EW masters are somehow fooling as. But it took time to understand I was wrong about EW and market helped me to get the essence out of it.
I can give you lot of examples where EW worked, checkout my Just dial analysis.Even yesterday evening, I felt Onelife capital has reversed its long term trend based on EW analysis and it spiked today also to confirm me.My longterm counts on onelife capital could be absolutely wrong and it will take long time to invalidate me. But I am certainly right about the direction of current movements . that is all it matters
Below are Onelife capital charts

Just on the lighter note, I am not here to market that EW analysis are good. ha ha. I am just sharing what I experienced

As expected onelife capital moved. more than 50% in 15 days

 

[ap*]

Sirji what are your views on bank nifty ? @john

 

[Singhraja]

Made 40 points in nifty on Short side even in uptrend thanks st sir for sharing pattern worked like charm. Wait I'll share charts. Shorted at 9165 as virtual high was made twice and booked at support zone 9150 range acted fast as against trend hai hoh..

 

[john302928]

Sirji what are your views on bank nifty ? @john

Hi Ap8, I had already shared my views on Banknifty, I felt we are in the final sequence of waves and I expect it to be Ending diagonal. Since waves are not so clear, we just need to wait for a while to gain confidence on the pattern. I have given the validation and confirmation levels for the pattern and what is going to happen if the pattern is validated.
http://www.traderji.com/general-tra...68-general-trading-chat-5278.html#post1217389

 

[traderniftybull]

@ John bro
Am I right.
You mentioned 21632 (BN) as invalidation level for a correction (Wave 4)
What if BN crosses and moves above 21632 levels.

 

[john302928]

@ John bro
Am I right.
You mentioned 21632 (BN) as invalidation level for a correction (Wave 4)
What if BN crosses and moves above 21632 levels.

if it breaks that level then I might have to redo the count. But i feel that wont be necessary.Last hourly candle was spinning candle shows indecisiveness and current candle is looking for a way to push down.I believe I am right on my expectation on ED. I am waiting for market to support me on that

 

[traderniftybull]

BN shorters ki toh lag gayi

:lol: :lol: :lol:

 

[checkmate7]

Ohhh BNF riding the bull

 

[traderniftybull]

@ John bro
Am I right.
You mentioned 21632 (BN) as invalidation level for a correction (Wave 4)
What if BN crosses and moves above 21632 levels.

if it breaks that level then I might have to redo the count. But i feel that wont be necessary.Last hourly candle was spinning candle shows indecisiveness and current candle is looking for a way to push down.I believe I am right on my expectation on ED. I am waiting for market to support me on that

I hope you got my point
why I asked you that question