Hi Guys good morning....as we discussed yesterday nifty did behave as per our first two targets ..and as i told u that i was not sure of nifty testing 5010 yesterday so it did happen....lets see ahead the likely scenario...the above chart is by dear RCG ji and notes are as below...
Maiya on Guru-Pushya yog
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A: 5160-5011=149 ( 3 wave { little change in observation } )
Therefore this is expected that ^B^ should take the form
Other than Zig zag { though nothing is RULE bound in this regard}
B: 5011- continued
B:a: 5011-5148=137
B:b: 5148- Max Target 4960
B:b:a: 5148-5034=114
B:b:b: 5034-5099 { perhaps completed or may do some more}
B:b:c: 5099 ( or the point where B:b:b ends)-
Expected to do 70 points to 114 points or exceptionally
Little more, but not more than 140 points
Giving the lower targets 5029/4985/4960
Best of Luck !
rcg
- OK folks as u know my way is firmly the shakespeareian style "BREVITY IS THE SOUL OF WIT"...so i study a lot but put it in few simple lucid sentences...
- if u see the above chart..the yellow channel will guide the prices now and most likely they are down...in case we close above this channel for 2 days and esp above 5235 then there will be a short term rally till 5500 odd levels
- Why i was hoping that 5177 will not be crossed bcoz it will damage the wave count of this intermediate wave C starting from 5940....so we are likely in wave 5 of this C and likely to cover around 700 points culminating around 4550....that should also mark the end to this corrective phase in Indian markets....
- for 2day i advise shorting on every rise towards 5140..with SL 5177..good luck..
Sirji, Nifty today didn't violate the Yellow Channel. Do you think we will still remain within it now for the coming sessions?
ReplyDeletehi verash...we have to take our chances so go short thru calls 50% when we reach the channel and are thrown down from there..if we breach it then do not...and second 50% below 5000...i think thats a well calculated strategy bcoz we do not know what is going to happen with EU meeting and rbi policy...good luck
ReplyDeleteI totally agree hence my question was to confirm Sirji. Can't afford writing calls so in puts. Eurozone crisis looking deeper and RBI policy not so encouraging at all. Thank you so much for your reply! Good luck to you too. PS: could you also pls join us on Facebook? My humble request too :-)
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