Time To Stick My Neck Out "Nifty 5000"

[amitt29]

amitt29,
As an experienced trader you must be knowing that wave analysis is subjective,why dont you stick your neck out & enlighten us with your more objective analysis ? You must have gone thru all my post by now in this thread ,didnt you find time to time as the chart informations are being unfolded,i have tried to keep it posted.However if you differ in my views you are welcome to put forward your wave analysis without your analysis of the same ,it is very convinient to find fault with others analysis.However the 2 levels given to day before the mkt opening was clear where to short in Nifty Fut,with supporting analysis of both the views has given money .

Asish

Boss,i am not an experienced trader,and i wont also stick my neck out and say anything"Gala Kat Jayega" .Trading is all about trading and not forecasting and making views.We wud do well to leave that to CNBC morons etc.
Dont take it otherwise.

As to the subjectivity of EW,its just abt spotting waves(As Ajay once told me)its not suddenly that a wave that marked the end of the correction and started a new impulse(and in in effect a new bull market cycle shud fail)because as per my observation whether its an uptrend or downtrend only a 3 swing move identifies the completion of corrective or a 5 swing move identifies the end of impulse.

Ive long stopped giving views as i have to concentrate more on trading(also told by Ajay that whether i want to master EW or master trading)
Peace.

 

[uasish]

Hi,
Ok accepted.

Asish

 

[inTraDay_traDer]

hi

I dumped some nifty futures which i had gone short before.....

I am thinking of loading some fresh ones.... what do u think would be the ideal time for this...

 

[ping_manoj]

Hi,

Instead of looking at the 300 days bard look at the nifty from 2005 onwards.
I have seen it. The nifty was on the fifth wave up, on the looong term.

I would say its a correction of month starting now. I might be (and I wish I am) wrong, but that is how I feel.

Nifty targets below 3530 are 3370, 3149 and then 2970. The mother of all targets would be near 2600 levels, below this level we will all close our accounts and get on to our jobs seriously once again...

Regards

Manoj T

I still hold my view, watch out for the 3530 level. Breaking this point will be an indication of tough times coming. The levels have been given earlier.

Regards

 

[koshyssj]

I still hold my view, watch out for the 3530 level. Breaking this point will be an indication of tough times coming. The levels have been given earlier.

Regards

thanks sir. i also hold the same opinion. i am new to the market but i was watching the market's behaviour for a long time.
koshy

 

[uasish]

Hi,
Waiting for BOJ & FED to be over.Not taking any directional call today (for India match could not concentrate) ,however might be a contracting triangle,
until confirmation .

Asish

 

[uasish]

Hi,
Let us see EOD chart today the fall of Nifty Fut from 3710 around 2.55 pm,is
just validating my hunch of contracting triangle ,has to study the chart.

Asish

 

[uasish]

Hi,
Most of Kolkata's BSNL (internet connection) is disrupted since yesterday evening,got data at 1.00 am.However Nifty Fut may fall today & the max.downside will be 3608.00 in this "c" leg of contracting triangle.If this holds than Nifty 5k (dream to many) may, may become a reality.Let us see.


Asish

 

[uasish]

Hi,
Nifty Fut may trade downwards,i would Short (SL = 3906) today , trading below 3877.20 will set weakness .Closing below 3856.70 will lead to 1st Supp = 3788.75, 2nd Supp = 3765 ; 3rd Supp = 3728.
Probably the last retracement Leg.

Asish

 

[uasish]

Hi,
"Guj Alkali will buy more if i get 107.60 if god willing......" This was the post on 14th March in this thread.Guj Alkali now 120.00 (La La La) & Balarampur
ha ha ha .

Asish