Nifty Futures Trading Part 2 (Positional)

[coolboy007]

US consumer confidence hits 41 year low

Dow down off its highs with a very good margin.

 

[columbus]

True Cool It would 1 of the few times when Dow & Sensex are alive together, double mazaa

The Chanting begins CIRCUIT CIRCUIT CIRCUIT

MunnaBhai MBBS knows more about CIRCUIT.

 

[orderflow13]

I doubt if this rally would last above 2900-3100. We need consolidation, NOT 5-10% rally. If we rally now then we'd fall again. US GDP (3rd quarter) will be available on Oct 30.

very good point

 

[rishig38]

May this new year bring in peace, happiness, love and profits to everyone....

HAPPY DIWALI

 

[columbus]

very good point

I think it is a pre-expiry rally ,to empty some SHORTS.The volatility index is dangerously poised.Presently it is 35% more than last month's figure.(46 vs 34)

 

[orderflow13]

I think it is a pre-expiry rally ,to empty some SHORTS.The volatility index is dangerously poised.Presently it is 35% more than last month's figure.(46 vs 34)

vix ( fear index )need to cool down, if we want to catapult on so called pullbacks. Amids fear rallies will sold off

 

[Czar]

My view is We need a big jump then few months consolidation then again a dip to test bottom... dont compare the bear market with the tom dick & harry ones, it has been doubly sharp & faster , I would assume if & when the markets bottom there will be a sharp rally till 3500 but most probably 3800... then a range bound move & then a retest... but this all is too soon to assume by just one day rally.

Edit: To add 3100 is still a very tough spot to cross if we happen to rally further... & 2905 is the 3rd gap sitting...

 

[satyamsit]

Satyam, Alex plzz check..

Taking the start of the downfall from 4680.83 as the 0 wave and taking the bottom of the 1st wave as 3856.26..

4680.83 - 3856.26 = 824.57

824.57 * 1.618 = 1334.15426

3856.26 - 1334.15426 = 2522.105

Now thats amazing and we closed on 2524 yesterday (not counting todays muhurat trading)

bhaiya u r calculation part is absolutely correct. but as per wave counting rule we have to start from major/intermediate pivot pt instead of a minor one, in this case ur pt 2 top shud be 0 bcoz b4 that we got the a-b-c wave of the 5271-3761 movement up to 4654. so pt 2 top or 4654 wud be the first point fm whr we shud start our calculation.

 

[uasish]

Satyam, Alex plzz check..

Taking the start of the downfall from 4680.83 as the 0 wave and taking the bottom of the 1st wave as 3856.26..

4680.83 - 3856.26 = 824.57

824.57 * 1.618 = 1334.15426

3856.26 - 1334.15426 = 2522.105

Now thats amazing and we closed on 2524 yesterday (not counting todays muhurat trading)

pkamalesh,

In this thread lots of charts are posted based on Elliot Waves,thatswhy i regularly track these charts.There is a mistake in your markings of EW in this chart,plz remember in EW the wave 4 never goes into the zone of 1-2.
To MATCH charts important Figs,there may be a tendency of 'Curve Fitting' excercise going on.Kindly do not misunderstand me,i am zero in EW compared to some Gr8 guys here,moreover i do not take decisions based on EW ONLY.
My request plz learn the thing atleast rightly.

Asish

 

[learn2trade08]

and wave 3 is biggest among impulsive ones...

pkamalesh,

In this thread lots of charts are posted based on Elliot Waves,thatswhy i regularly track these charts.There is a mistake in your markings of EW in this chart,plz remember in EW the wave 4 never goes into the zone of 1-2.
To MATCH charts important Figs,there may be a tendency of 'Curve Fitting' excercise going on.Kindly do not misunderstand me,i am zero in EW compared to some Gr8 guys here,moreover i do not take decisions based on EW ONLY.
My request plz learn the thing atleast rightly.

Asish