Elliott Wave Theory

[timepass]

My personal view is that Nifty will print 6970 on expiry day. Well , the market can prove me wrong but for the moment this is my view. High tomorrow around 7570 in futures and Low on expiry day around 6970. Let's see how it pans out.

Wow !! 6970 looks so far at this time !! It will need some very strong fundamental reason to drop that far in the annual expiry week (annual closing, I mean). Be interesting to watch it go there.

 

[WaveSurfer]

Wow !! 6970 looks so far at this time !! It will need some very strong fundamental reason to drop that far in the annual expiry week (annual closing, I mean). Be interesting to watch it go there.

Well , the fundamentals i will leave it to the CNBC analysts to find. As and when the move goes underway , the missing fundamentals they will find indeed.

I am relying on my waves , fundamentals is not my stuff. This entire structure is unfolding as an ending diagonal on the daily. It had to breach the wave 1 low i.e.7553 , which it will do tomorrow hopefully.

This is the bigger picture i am working on. Let's see how it plays out.

 

[chintan786]

Dear Wave,

Thanks for your input and analysis.
I myself is sitting on shorts and Sgx nifty is giving my goosebumps. From Past 2 days I am on internet looking for something to guide me hold or liquidate.

Hope whatever you said turn out right. But like to give you more indications of directional bias in nifty.

The PCR ratio. Yesterday some swing trader did PCR analysis of most active Nifty stocks and almost all of them at given price strick level trading near 0.85 to 0.9 execpt a few like infy.

Although Nifty itself is trading at 1.12 overall.

here is that post:
http://swingtrader-ap.blogspot.in/2016/03/what-options-data-reveals-for-some-key.html

correct me if i understand any thing wrong in this.

Regards,
Chintan

 

[333]

Dear Wave,

Thanks for your input and analysis.
I myself is sitting on shorts and Sgx nifty is giving my goosebumps. From Past 2 days I am on internet looking for something to guide me hold or liquidate.

Hope whatever you said turn out right. But like to give you more indications of directional bias in nifty.

The PCR ratio. Yesterday some swing trader did PCR analysis of most active Nifty stocks and almost all of them at given price strick level trading near 0.85 to 0.9 execpt a few like infy.

Although Nifty itself is trading at 1.12 overall.

here is that post:
http://swingtrader-ap.blogspot.in/2016/03/what-options-data-reveals-for-some-key.html

correct me if i understand any thing wrong in this.

Regards,
Chintan

May be you and wave bro right,but my system says it's impossible to nifty (March series) spot expire below 7275.I can see Nifty will attempt to touch 7675 in this series after that we will drag again sharply to 7375 level.

Put/call ratio is contrarian Indicator,I don't rely on such method!!!! I don't consider it as technical Indicator!!!

 

[WaveSurfer]

Nifty Spot 15 Min

Keeping the count simple. 5 wave is impulsive , 7 wave is corrective.

Break below 7483 on spot will be confirmation of end of this upmove.

 

[333]

Nifty Spot 15 Min

Keeping the count simple. 5 wave is impulsive , 7 wave is corrective.

Break below 7483 on spot will be confirmation of end of this upmove.

Nice.........I will sell below 7475.......... but now Nifty not in mood ,Above 7500 one shouldn't sell Nifty.:thumb:

 

[Fundootrader]

Dear Wave,

Thanks for your input and analysis.
I myself is sitting on shorts and Sgx nifty is giving my goosebumps. From Past 2 days I am on internet looking for something to guide me hold or liquidate.

Hope whatever you said turn out right. But like to give you more indications of directional bias in nifty.

The PCR ratio. Yesterday some swing trader did PCR analysis of most active Nifty stocks and almost all of them at given price strick level trading near 0.85 to 0.9 execpt a few like infy.

Although Nifty itself is trading at 1.12 overall.

here is that post:
http://swingtrader-ap.blogspot.in/2016/03/what-options-data-reveals-for-some-key.html

correct me if i understand any thing wrong in this.

Regards,
Chintan

Just to add on - the OI Chain of April - still shows 7000 strike price as lower base.

In my experience, when few days left for next series to start, the OI Chain of next month is better indicator for the levels to watch out for - Level of 7000 as Highest OI in Puts in April series indicates - market participants expecting touchdown of 7000 in March series - Just an observation from previous months - especially where I saw this pattern - didn't follow it and ended up burning cash by closing my swing trades based on current month series data

 

[wahabdeen]

Nice this one

 

[WaveSurfer]

Nifty P&F Chart

Just look at the big supply at 7600 and the trendline resistance.

Some P&F chart , just for change.

 

[WaveSurfer]

Nifty Spot 5 min

An impulsive decline from the top. There is a typing error in the pic. It's not 7660 but 7560 .