Nifty 13-03-2017

Seeing election results, I have renumbered my count. We have completed wave (iv) in some form of triangle and now wave (v) will start.

Wave (iii) took 21 days and wave (iv) 10 days.

We can expect 400-500 points rally.

 

nifty 13-03-2017

 

Nifty 05-03-2017

CORRECTION STARTED: 

This 1100 point rally from 7900 is over. We can see clear 5 waves.

  1. Divergence in (iii) and (v) wave
  2. (ii) – (iv) trend-line broken

Expect some correction/consolidation from now on.

Minimum 3 weeks correction/consolidation is expected.

 

nifty-05-03-2017

Nifty 19-02-2017

  • Nothing much changed from last week. Expecting correction or consolidation for sometime soon.
  • Divergence is seen in price and RSI
  • Look for break of Lower trend line for correction/consolidation confirmation

nifty-19-02-2017

Nifty 08-01-2017

I think Nifty is in uptrend.

Below is Hourly chart.

  • Wave 1 completed or near completion. We can see RSI divergence.
  • Wave 2 in progress. Wave 2 can retrace to 50-61.8% level i.e. 8100-8050.

If this is indeed wave 2 then look for

  • price to retrace from Fibonacci level as said above for wave 3.
  • RSI should take support at 33-50 level, as marked by red box. If RSI stays below 33 level for sometime, I may need to change my view on below wave count.

nifty-9-1-2017

Nifty 27-12-2016

As said in previous post, Nifty turned UP today. Wanted to catch this kind move and we made 1-2 unsuccessful attempt earlier, no loss though. Today, it already gave 5 bagger and  if it goes as per plan it should be 10-15 bagger by expiry.

This kind of opportunity is seen 2-3 times in a year. Last time was in May 16

https://rajinbrussels.wordpress.com/2016/05/26/may-2016-expiry/

Lets see how thing goes tomorrow and day after.

IMPORTANT: Anyone playing should use 34 EMA in 5 min as entry & exit for next 2 days OR previous LOW in 5 min as stop loss to protect profit.

Below is 5 min chart with 34 EMA

nifty-27-12-2016-2

nifty-27-12-2016