nifty calls
- Thread starter MAGNET MAN
- Start date
Himagnet,
I Am A Technical Elliot Wave Follower Too. Now Nifty Spot Has Crossed Your Target Of 4305 (see June 25 Posting) And Rallied Further To 4321.35(high On June 29 And Closed At 4318). Is Your Count In Subminuette Wave 3 Or Subminuete Wave 5. Please Calarify.
Also Can You Please Explain Generaly The Formula Based On Fibonacci Extension For Wave 3 Aqnd Wave 5 Based On Wave 1 And Wave 3 Absolute Values.
Thanks
I Am A Technical Elliot Wave Follower Too. Now Nifty Spot Has Crossed Your Target Of 4305 (see June 25 Posting) And Rallied Further To 4321.35(high On June 29 And Closed At 4318). Is Your Count In Subminuette Wave 3 Or Subminuete Wave 5. Please Calarify.
Also Can You Please Explain Generaly The Formula Based On Fibonacci Extension For Wave 3 Aqnd Wave 5 Based On Wave 1 And Wave 3 Absolute Values.
Thanks
magnet calls for monday
agg-jac-tly
the tgt was 4320 and high was 4321,tgt achieved.
now what?
till thursday every thing was perfect
charts were saying :market is bullish
volumes were saying :market is bullish
japenese candle :market is bullish
dow theory :market is bullish
price theory :market is bullish
but but but
on friday night mother of all theory came to my house and said
market can crash any time now, her name was elliot theory.
she said nifty hasn,t corrected fully yet.
and i will correct her in few day.
con- clu -son
on friday volumes and charts were suggesting that mkt could correct.
now what are tgt?
if goes for correction then mt tgt could be in between 4040-4100(depends fromwhere it start correcting)
now if any day market goes below 4290 that could becomes first indication.
for being now who long from 4255 can wait for my st tgt of 4350 (put sl of 4289of ur all longs)
fresh buying is not allowed.
below 4290 one can short nifty with tgt of 4255.
before mkt correct, it may put trend reversal bar on charts
so have a eye on that.
est tgt 4350-4363 (if doesn't breach 4290,and should be achieved in max 2 days)
st tgt depends
mt tgt depends
warm regards
magnet man
NOTE: ALL THE GIVEN TARGET ABOVE, ARE BASED ON MY OWN RESEARCH, AND ALL INDICATES THE NIFTY SPOT
LEVEL (NOT NIFTY FUTURE).
EST STANDS FOR EXTREME SHORT TERM AND THESE TARGETS LIKELY TO BE ACHIVED IN 1 TO 5 DAYS.
ST STANDS FOR SHORT TERM AND THESE TARGETS ARE LIKELY TO BE ACHIEVED IN MAXIMUM1 OR 2 WEEKS.
MT STANDS FOR MEDIUM TERM AND THESE TARGETS SHOULD BE ACHIEVED IN 1 MONTH TIME PERIOD.
ALL THE TARGETS GIVEN ABOVE COULD BE REVISED AND CHANGED ACCORDINDING TO MARKET CONDITION
SO BETTER ALWAYS GO FOR EST AND ST TARGETS.
agg-jac-tly
the tgt was 4320 and high was 4321,tgt achieved.
now what?
till thursday every thing was perfect
charts were saying :market is bullish
volumes were saying :market is bullish
japenese candle :market is bullish
dow theory :market is bullish
price theory :market is bullish
but but but
on friday night mother of all theory came to my house and said
market can crash any time now, her name was elliot theory.
she said nifty hasn,t corrected fully yet.
and i will correct her in few day.
con- clu -son
on friday volumes and charts were suggesting that mkt could correct.
now what are tgt?
if goes for correction then mt tgt could be in between 4040-4100(depends fromwhere it start correcting)
now if any day market goes below 4290 that could becomes first indication.
for being now who long from 4255 can wait for my st tgt of 4350 (put sl of 4289of ur all longs)
fresh buying is not allowed.
below 4290 one can short nifty with tgt of 4255.
before mkt correct, it may put trend reversal bar on charts
so have a eye on that.
est tgt 4350-4363 (if doesn't breach 4290,and should be achieved in max 2 days)
st tgt depends
mt tgt depends
warm regards
magnet man
NOTE: ALL THE GIVEN TARGET ABOVE, ARE BASED ON MY OWN RESEARCH, AND ALL INDICATES THE NIFTY SPOT
LEVEL (NOT NIFTY FUTURE).
EST STANDS FOR EXTREME SHORT TERM AND THESE TARGETS LIKELY TO BE ACHIVED IN 1 TO 5 DAYS.
ST STANDS FOR SHORT TERM AND THESE TARGETS ARE LIKELY TO BE ACHIEVED IN MAXIMUM1 OR 2 WEEKS.
MT STANDS FOR MEDIUM TERM AND THESE TARGETS SHOULD BE ACHIEVED IN 1 MONTH TIME PERIOD.
ALL THE TARGETS GIVEN ABOVE COULD BE REVISED AND CHANGED ACCORDINDING TO MARKET CONDITION
SO BETTER ALWAYS GO FOR EST AND ST TARGETS.
to mt. jaggy
jaggy,
jaggy u said u r too elliot theory follower, that means u think that i am also elliot theory follower. actually u r partitally right.
actually i follow all theory
japenese candle
dow theory
price theory
and u asked that in which wave we are standing.
in my veiw if mkt has corrected fully at the level of 4135. then we have just entered in third wave, which has the tgt of 4395-4405.
but i don't think that mkt has corrected itself fully so we may go for double bottom at the level of 4100 in near future.
another thing u asked the formula of fibanocci for calulating the tgt
for that idon't use fibanocci formula for calulating any tgt
i use price theory for that,which include volumes and charts.
i believe that fibanocci should be used for long term view, specially they should be used for trend reversal
exmple: this channel started from 3617 and niftyhigh is 4363
diffrence is 4363-3617=746
and 3617*20.6=746(exactly)
here 20.6 is fibanocci(6.18*3.33333)
and exacly from 4363(though it was visible only on that day chart) started its correction.
warm regards
magnet man
jaggy,
jaggy u said u r too elliot theory follower, that means u think that i am also elliot theory follower. actually u r partitally right.
actually i follow all theory
japenese candle
dow theory
price theory
and u asked that in which wave we are standing.
in my veiw if mkt has corrected fully at the level of 4135. then we have just entered in third wave, which has the tgt of 4395-4405.
but i don't think that mkt has corrected itself fully so we may go for double bottom at the level of 4100 in near future.
another thing u asked the formula of fibanocci for calulating the tgt
for that idon't use fibanocci formula for calulating any tgt
i use price theory for that,which include volumes and charts.
i believe that fibanocci should be used for long term view, specially they should be used for trend reversal
exmple: this channel started from 3617 and niftyhigh is 4363
diffrence is 4363-3617=746
and 3617*20.6=746(exactly)
here 20.6 is fibanocci(6.18*3.33333)
and exacly from 4363(though it was visible only on that day chart) started its correction.
warm regards
magnet man
How is 3.333 a fib no. Care to explain.
,y this channel didnt start from 3574, or 3573.Pls explain with a chart y theres logical problem with the supposed start of channel of yours.Where the point 1 is longest at 4217.
Market may correct today or tomorrow may remain sideways(due to rain in Mumbai,also because markets spend 60% of time in corrections).If u want to put ur analysis here,try using some logic.
One more thing the fall from 4217 to 3981 and then subsequent rise to 4365 are related as is the next fall to 4100.
Too many supports here to let the markets crack 4296,4251,4236,4220,4209 and last solid one at 4100.
Should I gave an outrageous forecast here.
Let it be.
,y this channel didnt start from 3574, or 3573.Pls explain with a chart y theres logical problem with the supposed start of channel of yours.Where the point 1 is longest at 4217.Market may correct today or tomorrow may remain sideways(due to rain in Mumbai,also because markets spend 60% of time in corrections).If u want to put ur analysis here,try using some logic.
One more thing the fall from 4217 to 3981 and then subsequent rise to 4365 are related as is the next fall to 4100.
Too many supports here to let the markets crack 4296,4251,4236,4220,4209 and last solid one at 4100.
Should I gave an outrageous forecast here.
Let it be.
once again well done
the problem is that we always think that when correction ends it makes the low, and we assume that bull trend start from that level, but price theory corrects us there. price theory says watch the low of that day when buying volumes are putted in large quantity.
i don't have the chart now , so see urself that how much buying volumes were putted at level 3617.
and there is word called trend reversal bar.and for ur interest let me tell u that it was also spotted in the charts.
and about u said that why correction came at 4217.
that is what i am saying do not use fibanocci for short term trend always watch volume and price for making any tgt.
and another thing u asked how 3.333 is fibanocci no.
in that case if i would have written 6.18*4 or 6.18*5 or6.18*5.5
ur question would have remains the same that how 4,5 and 5.5 could be fibanocci
dear amit who said that fibanocci is only 6.18 and 3.82
if calulating fibanocci is that easy then one could becomes millionare in few months.
if u r not satisfy totally can post again.
and ya dow jones anticipation was amazing
tell me u r not a operator?
warm warm regards
magnet man
the problem is that we always think that when correction ends it makes the low, and we assume that bull trend start from that level, but price theory corrects us there. price theory says watch the low of that day when buying volumes are putted in large quantity.
i don't have the chart now , so see urself that how much buying volumes were putted at level 3617.
and there is word called trend reversal bar.and for ur interest let me tell u that it was also spotted in the charts.
and about u said that why correction came at 4217.
that is what i am saying do not use fibanocci for short term trend always watch volume and price for making any tgt.
and another thing u asked how 3.333 is fibanocci no.
in that case if i would have written 6.18*4 or 6.18*5 or6.18*5.5
ur question would have remains the same that how 4,5 and 5.5 could be fibanocci
dear amit who said that fibanocci is only 6.18 and 3.82
if calulating fibanocci is that easy then one could becomes millionare in few months.
if u r not satisfy totally can post again.
and ya dow jones anticipation was amazing
tell me u r not a operator?
warm warm regards
magnet man
and ya
and ya u have written something about monsoon, that in monsoon market corrects,
dearest amit thats not logic, thats the men-te-lity.
lets take example:
suppose u r a biggest operator in market (say of rpl).
and u invest lot of money in the range of 98-106
ur average is coming out say 103.5
now monsoon comes
and price is say 105
what will u do start profit booking from the level 105
or u will first increase its price to say 115 and then start profit booking.
dearest dearest amit if i would be in that condition then i would had definately
increase the price first.(and monsoon ha ha ha )
that is what price theory say
iss market mein sab kuch paisa hai
bolo ye jawab kaisa hai.
warm regads
magnet man.
and ya u have written something about monsoon, that in monsoon market corrects,
dearest amit thats not logic, thats the men-te-lity.
lets take example:
suppose u r a biggest operator in market (say of rpl).
and u invest lot of money in the range of 98-106
ur average is coming out say 103.5
now monsoon comes
and price is say 105
what will u do start profit booking from the level 105
or u will first increase its price to say 115 and then start profit booking.
dearest dearest amit if i would be in that condition then i would had definately
increase the price first.(and monsoon ha ha ha )
that is what price theory say
iss market mein sab kuch paisa hai
bolo ye jawab kaisa hai.
warm regads
magnet man.
I had the impression that fibs were 1,1,2,3,5 etc and the ratio was derived by comparison of adjacent nos.
As far as i know under market conditions
23.6
38.2
50
61.8
78.6 or 77.8 or 76.4
100 and so on and so forth are fib ratios.If you are getting weird ratios in swings that clearly means something else.
When u talk abt Price patterns(not price theory)talk about Price Patterns only,dont consider vols etc.
Our markets are not,i repeat not cash driven,they are derivatives driven completely and therefore its tough for an intraday swing to be considered as actual low or high.
You have skipped the question in entriety as it is, even if u consider 3617 as low theres a huge logical problem with your channel and also with the swing following that 3617 at 4217.
Again I can make an outrageous forecast here,but let it be.
Not an operator,just a small trader.
As far as i know under market conditions
23.6
38.2
50
61.8
78.6 or 77.8 or 76.4
100 and so on and so forth are fib ratios.If you are getting weird ratios in swings that clearly means something else.
When u talk abt Price patterns(not price theory)talk about Price Patterns only,dont consider vols etc.
Our markets are not,i repeat not cash driven,they are derivatives driven completely and therefore its tough for an intraday swing to be considered as actual low or high.
You have skipped the question in entriety as it is, even if u consider 3617 as low theres a huge logical problem with your channel and also with the swing following that 3617 at 4217.
Again I can make an outrageous forecast here
,but let it be.Not an operator,just a small trader.
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