General Trading Chat

[timepass]

Once again, Banknifty may bend down to kiss its 3ema

 

[marimuthu13]

Once again, Banknifty may bend down to kiss its 3ema

View attachment 30706

TP ji
you attached Nifty chart while talking about BN

 

[timepass]

TP ji
you attached Nifty chart while talking about BN

Oops... Banknifty (spot) 3ema is around 26100. Thanks, bro.

 

[rip07]

Reliance and Airtel are holding Nifty to fill the gap.

 

[against_tides]

lagta ha jet pe jaguar ka engine lag gaya hai..

 

[traderniftybull]

hmmm
but BN 3 ema is likely to rise much at todays close
its first day na, for not not touching

 

[john302928]

Went till 26333 and now below 26280, so is the wave 5 complete now? Time to go short....

Today morning i attached my analysis in the previous post itself for the continuity.as i said in the post waves were completed to me and downmoves have already started. Once it goes below the confirmation point we will get double confirmation on downtrend. Meanwhile we need to keep an eye on swing highs to see if there is any violations. Because wave 5 cyan didnt end in the manner i hoped it would be but in 15 min it looks like ended as it supposed to be. When i saw the impulsive nature on the downside, i had to believe that waves were finished because Market is supreme than all of us. Please check the previous post with the latest updated analysis as of today morning

 

[rip07]

Do you also track nifty with this wave system?

 

[timepass]

TV News : Government seeks legal advice about applying Section 7 for RBI.

 

[john302928]

Update @ 1.10 pm-15 nov 2018
Black wave 5 is getting extended and its subwaves are shown in cyan color. Thanks to the extending wave 5. the fall after extending wave 5 will be of the same behavior of this extending wave 5.Now we can rise our target 600 points fall to 750 points of fall based on cmp zone. once it completes the cyan wave 5 we will know exactly how many points it might fall with respect to 25389.

View attachment 30650
Update @ 2.33pm on 15 nov 2018
Cyan wave 5 is also likely be extending since its respective wave 3 didnt move to 1.618% of Fibonacci zone . so we can expect approximately 0.618% of length of wave 1-3 (cyan) for cyan wave 5 to end ie 26279.9 which is closer to 26268 zone which i mentioned earlier
In the below chart I have also moved the confirmation level for downtrend.
View attachment 30656

Update @ 3.29pm on 15 Nov 2018. The cyan wave 5 so far has made abc up and abc down. behavior of diagonal pattern.So we can anticipate diagonal pattern for cyan wave 5. Tomorrow is going to be atleast 300-400 points fall from tomorrow's high around 26268-26279 zone View attachment 30666
16 Nov 2018@ 10.13am
Looks like wave 4 was a flat and now wave 5 looks like complete with wave extensions and impulsive down is seen in 1 min chart. So I believe waves are completed and downmove has started and we will get the confirmation once it breaks below the confirmation point. Count might call for adjustment only if it crosses above wave 5 end ie 26329 zone
View attachment 30700

Update @1.43pm
The pull back went deep to 78% of fibonacci. The red counts are approximate. Need to wait and watch how it progress so that we could label them properly.It needs to break below the previous chart's green confirmation line to be confident.

Update 2.35pm
It has a look of symmetric triangle pattern. Though my counts are for downside, if it breaks the pattern on the upside then we might have few more points up. but if it breaks on the downside then things might go as per the count. I still believe for downside.at any point of time if it breaks the invalidation mention in the below chart then we need to adjust the count and leave way for some more upmovements and downmoves could be delayed.Lets see.

Update @3.26pm
There is a bullish engulfing candle in 15 min chart shows the strength of bulls.So bears need to be bit careful.
For bears to take control, bears need to break this candle's low.
it might call for wave adjustments.Not sure at the moment but will check after market hours/weekend.I could even call this bullish engulfing candle is part of flat correction for red wave 2. But that its not healthy for trade management. when in doubt, stay aside.Live to fight another day.