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[jdm]

Hi,
Very good move or is it.

don't worry amitt. the spirit of mumbai and India at large will now catapult the index to new high

 

[amitt29]

Whats that Upper Blue Line?
Stunning Move though.Still I mantain as I did 2-3 posts earlier the risk rewards,remain skewed in favour of risks also i mentioned that the 1st 15 mins cud decide the trend for the day.And it did.We gapped down and recovered and what recovery.But caution and flexibility wud be the name of the game.Hope all of us made hay.
God bless us all.
Regards
Amit.

 

[amitt29]

This was from yesterday,

Hi,
Todays close makes it very interesting tomorrow,because its sitting on an edge where even a 5 point slippage cud sent it tumbling down and to hold the upside it needs a gapup of 15 points.According to me of course.The initial 15 mins cud decide the trend for the day and for the coming weeks.
As the market waits with baited breath for Infosys numbers the risk reward is skewed in favour of risks.

Whoever said that Rome was not built in a day needs to eat his words.A stellar response to the aftermath of the blasts and all the negative effects(read Nikkei and Ninjas,Samurais etc.)
Hats off to Indians.Me included.
Some of the stellar rallies have come in the aftermath of 2595 lows.We are 23% up from there,what are the implications of this I dont know.Perhaps the seniors wud assist.Yes pls.
Whatever anybody says, for traders its a gambling den,with odds favouring the ops.No bears or bulls but winners and losers as our revered AmitBe says.
Now again,I know nobody likes a party spoiler but caution is the name of game and not getting cocky and aggresively euphoric wud be good.Not having emotions and stone cold observations wud do well in the short as well as long term.
Just my two pennies worth of thoughts.
Regards
Amit.

 

[jdm]

Whats that Upper Blue Line?
Stunning Move though.Still I mantain as I did 2-3 posts earlier the risk rewards,remain skewed in favour of risks also i mentioned that the 1st 15 mins cud decide the trend for the day.And it did.We gapped down and recovered and what recovery.But caution and flexibility wud be the name of the game.Hope all of us made hay.
God bless us all.
Regards
Amit.

hi amitt,
not much to be digged out of the blue line. its just a simple trendline.

the price movement what we saw since last thursday is a very old repetitive one and are in plethora if you look back in history. nothing to do with all the news, bomb blast, infy's result etc. the breach of the trendline just confirmed the vigorous upmove.

cheers,
jdm.

p.s. - i am not a wave analyst, unlike you.

 

[amitt29]

Hi,jdm
I know its a trendline,I am attaching a chart which shud be explanatory.And more so I believe, prices and markets donot repeat.I had anticipated a counter move till 3155-3169 as posted by me it was the last leg till 3201 which was a bit boggling(purely in terms of Elliot,because probability of any wave to take a form is greatest in the beggining, less in the midway and least in the last leg,just like if u start from ur house to go to Delhi u will have 8 ways or more to go to Delhi,in Mughalsarai ur paths are limited to 4 and lastly near Aligarh u have only one way).Thence other confirmatory tools in conjunction with Wave analysis is used.
Warm regards
Amit.

 

[jdm]

Hi,jdm
I know its a trendline,I am attaching a chart which shud be explanatory.And more so I believe, prices and markets donot repeat.I had anticipated a counter move till 3155-3169 as posted by me it was the last leg till 3201 which was a bit boggling(purely in terms of Elliot,because probability of any wave to take a form is greatest in the beggining, less in the midway and least in the last leg,just like if u start from ur house to go to Delhi u will have 8 ways or more to go to Delhi,in Mughalsarai ur paths are limited to 4 and lastly near Aligarh u have only one way).Thence other confirmatory tools in conjunction with Wave analysis is used.
Warm regards
Amit.

hi amitt,
i know prices do not repeat. but then if minute details are ignored and then are clubbed together they do show a path.

one main trend with ten thousand of brother and sister, thats how legendary speculator Jessy Livermore used to describe.

cheers,
jdm.

 

[cooltetra]

Hi AmitT

Just on academic interest.
Could you please check if I have numbered the waves correctly.

Best Regards
Coool.

 

[amitt29]

Hi cool this shud help.

 

[amitt29]

Hi,
I am very new to candlesticks trading.Can somebody pls take the trouble of explaining these to me.It will be highly appreciated.

Warm Regards
Amit.

 

[amitt29]

Kya boss koi to help karo.

Ok
We didnt do bad considering the Cow,oops Dow ,and the Oriental and Accidentals,oops .
Expecting a small gapup tomorrow to take 3177-3180 and retest 3185.Its important that 3185 is held for this uptrend to continue.
The downside levels to watch out for wud be 3155-3142-3128.
Have a nice one all tomorrow.
Regards
Amit.