nifty chart with labelling of the minor elliott waves inside the ongoing assumed zig zag correction leg C of ABC-X-ABC.
the broader wave counts and tgts for this correction was already given earlier in this post on 31st august 2008 http://valuetrading.blogspot.com/2008/08/my-latest-ew-update.html.
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Friday, September 12, 2008
update on my ew analysis...
nifty trading strategy...
nifty trading strategy for today and coming days:
initiate and book longs today near 4360-85(nf 4378-4406) region and exit longs upto 4412(nf 4434), coming days one may short near high with sl 4438(nf 4458) for tgt 4200-4240 spot.
update on my ew:
nifty is in C-3-(1)-iii-(iv) currently C-3-(1)-iii-(v) most likely to end near 4266/4227 then C-3-(1)-iii-(iv) to open up upto 4360 then C-3-(1)-iii-(v) down from there to 4240 to complete C-3-(1)-iii structure.
***analysis based on ew for academic purpose, trade at own risk.
Thursday, September 11, 2008
triangle on nifty...
yesterday on vfmdirect forum i had advised friends to trade only on breakout/breakdown from this descending triangle(base 4418). on request posting the chart here. downside lvls as mentioned in my nifty lvls post below may be used.
Wednesday, September 10, 2008
nymex crude chart...
nymex crude looks closer to bottoming out above $90/bbl on my chart above, a bounce on the blue line near yesterday's lvl cannot be ruled out immediately.
Tuesday, September 9, 2008
approaching the sensex resistance...
sensex faces strong resistance near circled area marked on trend channel and imp fibo lvls(refer chart). yday nifty went above its 4500 resis area only to close below it afterwards.
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