Nifty: Daily Price Analysis

[pegasus]

dows down more than 300.now what?

 

[simple_trader]

dows down more than 300.now what?

It seems that you are disappointed as you missed shorting opportunity. (?) If we are not holding un-hedged position, then it should not matter to us. We will make an adjustment on Monday opening after that market will move on as usual (up/down). It will not be dead at one level So it should not give joy/bad feeling.

market has good volatility, we can make money even if we do not get into adventure.

 

[AlokTewari]

dows down more than 300.now what?

Now every analyst , who until today was telling you how soon 5200-5300-5400 will be taken out in Nifty, will start telling you whether 4800 will hold this time or not. Hungary's problem has given new spelling to PIIGS. It is now PIIHGS with H silent presently. Which letter will be added to PIIHGS next is anybody's guess but one thing is sure this spelling will add few more letters in not so distant future.

Cheers !!!

Alok Tewari

 

[simple_trader]

PIGS are 1000 points far PUT and CALL Buyers. Wherever market goes, those will give loss.

All the best.

 

[scplindia]

I said in my last post uncertainty is not going go away, now see what has happened, DOW has had a 300 point fall and now below 10000. Economic crisis will not go away, and is there to stay for some time.

1. Stimulus announced in Europe is not sufficient.
2. Countries that have to fund the stimulus are themselves in problem and need stimulus.

This is a loop, how is Europe going to get out of this.

Now DOW is below, 10000, Bears will hit the market in full swing, next if S&P goes below, 1000, there will be blood bath.

TRADE with caution, better to be on the sell side on any rally than to buy on dips. This is my opinion. Make your own assesment and TRADE.

 

[pegasus]

It seems that you are disappointed as you missed shorting opportunity. (?) If we are not holding un-hedged position, then it should not matter to us. We will make an adjustment on Monday opening after that market will move on as usual (up/down). It will not be dead at one level So it should not give joy/bad feeling.

market has good volatility, we can make money even if we do not get into adventure.

nothing like that buddy just thinking how much more blood bath will be there.now thinking of how unstable our economic scenario is becoming by the day sometimes this may may go on and wipe out the markets in the coming days.one by one every country in euro will now ask a bailout. :annoyed: like I earlier posted the piigs should be left to die and rot thats the only way they learn how to carefully handle public money! no stimulus can save us from such indiscipline.....I was waiting for this to happen
as there is still a lot more the market can go down

 

[nimish_rulz]

Now every analyst , who until today was telling you how soon 5200-5300-5400 will be taken out in Nifty, will start telling you whether 4800 will hold this time or not. Hungary's problem has given new spelling to PIIGS. It is now PIIHGS with H silent presently. Which letter will be added to PIIHGS next is anybody's guess but one thing is sure this spelling will add few more letters in not so distant future.

Cheers !!!

Alok Tewari

Man its not just the PIIGS(Portugal, Italy, Ireland, Greece, Spain) Hungary, Japan(almost close to 200% debt to GDP) USA(Above 100% Debt to GDP) and England(close to 100% Debt to GDP) can be next in line in any order. However, the later 4 has an advantage that they can create hyper inflation and get out of debt. They are not tied to a single currency. UK can reduce its deficit hugely if only they sell their stake in the banks they bailed out last year. Banks such as RBS, LLoyds, Northern Rock where the government fused in more than 50 Billion Pounds along with 600 billions in guarantee.

What surprises me most is the outperformance of the German index it hasnt fallen compared to the world markets and it is the one who is taking all the guarantees.

Anyway trade with caution is order of the day.

 

[columbus]

Man its not just the PIIGS(Portugal, Italy, Ireland, Greece, Spain) Hungary, Japan(almost close to 200% debt to GDP) USA(Above 100% Debt to GDP) and England(close to 100% Debt to GDP) can be next in line in any order. However, the later 4 has an advantage that they can create hyper inflation and get out of debt. They are not tied to a single currency. UK can reduce its deficit hugely if only they sell their stake in the banks they bailed out last year. Banks such as RBS, LLoyds, Northern Rock where the government fused in more than 50 Billion Pounds along with 600 billions in guarantee.

What surprises me most is the outperformance of the German index it hasnt fallen compared to the world markets and it is the one who is taking all the guarantees.

Anyway trade with caution is order of the day.

Till Europe opens better to do SCALPING and do the regular trading after 1300hrs.

 

[SwingKing]

Rajputz,

Elliot wave count for Nifty is attached above. Hope this helps.

P.S. The corrective A-B-C (supposedly a 5-3-5 pattern) is still under development. Over the week's I'll try and update it. Numbering in Red is of higher degree wave, while in black is the sub wave.Also, the corrective structure is being shown of the 2nd larger degree. This is for ease of understandability.

Tc

 

[rajputz]

This was the same i was trying to figure out....i was getting a mistake in counting the Fifth point. The 3 i was counting as 5 and previous top then 3 as the real 3. Thats where i was mistaken.

Where wave 3 is 161.2% retracement of wave 1 2. And wave 4 is exactly 50% retracement. The last wave which is 5 is 127 % of the wave 3 4.

when learning about the elliot wave i have read, that wave 5 is the most rewarding wave of all the bull waves out of 1 3 and 5. The approximate target of which can be

Total Points from Starting of Wave 1- Wave 3 Top. And adding that Value to the Bottom of point 4. Theoratically. Which happens to be around addition of 2500 points to D. Am i mistaken some where.

And one more point raunak sir. As the wave 3 was in developing mode, one would have got whipsawed, in determining the previous top as 3 and the 3 you actually mentioned as a 5th and last wave...A huge correction after that, as these were actually the formation of 5th wave. Now if that Theory told in book about adding the total point of A-C at D to get the Target of 5th wave is right, then is there any chances that the 5th wave is still under progress.

Enlightem me about this. Its little puzzling. I will post a image on Monthly line chart of nifty. please consider it. It is reverse elliot on the fall at recession time.