General Trading Chat

[john302928]

Black marked Minuette waves are scenario-2 whereas rest of the markings are scenario-1. So far there is no reversal signal yet. so we should not neglect probabilities for further extensions. But i feel it might take either one of the mentioned scenarios. If necessary labels might be changed but structure is frozen.We might get some clue about the reversal tomorrow morning probably in the first 2 hours of trading. Huge fresh shorts are built up @ 24900PE and 25500CE. and there is huge short built up @ 25000PE. So expiring below 25000 or above 25500 may not be possible.Breaching these 2 levels will be a huge task. So there is a huge probability for all OTM from these 2 strike prices to expire worthless.Currently Max pain is @ 25300. Hope you are aware of Max pain. It conveys that CE longs above 25300 and PE longs below 25300 have chances of expiring worthless.
But if we can closely watch and spot the reversal then we can nail one multibagger tomorrow.

And if it takes red abc after the reversal then next week will be fun to watch as it might head towards 24800 because ED completion on 6th Nov.Thats the minimum target for ED if it was ED. we will get more insights as wave proceeds.

View attachment 23315

Good morning,
It breached the reversal signal marked on the chart in the opening candle itself. But I would be cautious because wave v doesnt look like completed so even if it makes 5 wave impulsive upwaves then it could turnout to be a flat correction for wave iv. Else it could turnout to be wave 2 of ED for wave v.Lets wait and see so that we can reduce the alternate scenarios

 

[john302928]

DHFL
Elliot waves intraday today. We just need to wait patiently to get confirmation on 5-3 moves then we can ride the next 5 wave moves without tension. One may ask why dont we ride wave v. yes ofcourse we can. But we shouldnt be in a hurry to ride each leg before getting confirmation on the direction. This i,ii,iii could easily be relabeled as abc. Because both have the same characteristics. until we see wave iv and wave v we cant come to a conclusion. But what we can do is that we can ride this abc once we get confirmation on impulsive structure.This is only for learning purposes

 

[john302928]

Hi
Does any one have tick charts?If so requesting you to pm me, I need a small help.Thanks

 

[okabira]

NF , may test 10310

 

[Raj232]

NF , may test 10310

10,310 spot is tested, I think it will be down to sideways for the next 15- 30 mins.. so yes 10,310 or even 10,300 may be tested on Nifty Futures.

Nifty is cracking .. someone trying their best to but does not seems strong enough... lets see..

... and inspite of todays positive opening, etc, both puts and calls have lost value as of 12.25 PM today (Rs 33 each )

Premiums look too much.. BankNifty spot is 25,200 but the 25,200 CE is Rs 54 as on 12.45 PM. Too much premium for less than 3 hrs to expiry which could be "zero".

 

[okabira]

NF , may test 10310

tested exactly 10310 .. rebounding ...
upside .. 10332 and lowside 10310 ..

 

[okabira]

10,310 spot is tested, I think it will be down to sideways for the next 15- 30 mins.. so yes 10,310 or even 10,300 may be tested on Nifty Futures.

Nifty is cracking .. someone trying their best to but does not seems strong enough... lets see..

... and inspite of todays positive opening, etc, both puts and calls have lost value as of 12.25 PM today (Rs 33 each )

institutions are selling ... doesnt matter if its gap up in bull market

 

[john302928]

Good morning,
It breached the reversal signal marked on the chart in the opening candle itself. But I would be cautious because wave v doesnt look like completed so even if it makes 5 wave impulsive upwaves then it could turnout to be a flat correction for wave iv. Else it could turnout to be wave 2 of ED for wave v.Lets wait and see so that we can reduce the alternate scenarios

Banknifty CE 25300,400 might fire at any time today

 

[john302928]

Banknifty CE 25300,400 might fire at any time today

Another fresh round of CE firing might start now. This time it will turnout to be atleast 7-10X. lets see

 

[okabira]

NF should move up now , ltp 10324

LOD se nechu gya toh band baja barat