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CHARTS & PATTERNS
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Author CHARTS & PATTERNS
shekharinvest
Yellow Belt
Yellow Belt


Joined: 21 Dec 2007
Posts: 549

Post: #256   PostPosted: Mon Mar 16, 2015 9:21 am    Post subject: Reply with quote

amitagg wrote:
Hi

Can u update this please. Your 8900 targets are well met and your below euro GBT chart trying to correlate with Nifty as you suggest ,chart suggests fall till 8000 followed by rise till 8500 and then fall back to 8000 and rise in round pattern to 9000 followed by fall in channel- I may well be " terribly wrong" here so please guide what import are u deriving from the inter market analysis

Regards
Amit


shekharinvest wrote:
shekharinvest wrote:
It is said that over the period of time 'Mass Psychology' remains the same. Group of people at different places behave in the same manner repeatedly.

Attached is a Chart which I came across going through my study material taken from the web some time back. The astonishing similarity with the NIFTY movement which we are witnessing these days caught my eyes.

I have cropped the chart to show approximately the stage where NIFTY is presently. Hope everybody sees what I am seeing.

Let me know If you agree.

SHEKHAR

Also attached is the NIFTY chart posted by me few days back.
The security in the chart is different in a different time zone. Wave markings on the chart are by original author.



If history repeats. Nifty may take the following route going forward.

SHEKHAR



Amit

I do not venture where there is no clarity. If it indeed is wave 4 then expect it to be confusing and confounding (generally). When ever I will form a view I shall definitely post here. Until then wait and watch.

As for the comparison of NIFTY with the EUR/GBP chart that was purely to initiate a thought process for the academic purposes only. We may or may not follow that path.

Happy Trading !
SHEKHAR Mr. Green
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AMBY
Yellow Belt
Yellow Belt


Joined: 05 Sep 2014
Posts: 503

Post: #257   PostPosted: Mon Mar 16, 2015 9:26 am    Post subject: R.COM Reply with quote

THANKS FOR UPDATE.
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amitagg
Black Belt
Black Belt


Joined: 01 Oct 2013
Posts: 4556

Post: #258   PostPosted: Mon Mar 16, 2015 2:15 pm    Post subject: Reply with quote

Shekar

Are u in some blog active of yours
Can say yes or no

Regards
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shekharinvest
Yellow Belt
Yellow Belt


Joined: 21 Dec 2007
Posts: 549

Post: #259   PostPosted: Tue Mar 17, 2015 9:35 am    Post subject: Reply with quote

amitagg wrote:
Shekar

Are u in some blog active of yours
Can say yes or no

Regards


Amit I do post on my blog but I am more active here. You can imagine... 24
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shekharinvest
Yellow Belt
Yellow Belt


Joined: 21 Dec 2007
Posts: 549

Post: #260   PostPosted: Sat Mar 21, 2015 1:51 pm    Post subject: Reply with quote

National Aluminium chart is self explanotary. I have not written any commentary, hope who follows the Ewave theory understands.

Also note that govt is likely to come out with an OFS any time.

Happy Trading !
SHEKHAR Mr. Green



NATIONALUM NALCO NATIONAL ALUMINIUM MARCH 20 a.png
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NATIONALUM NALCO  NATIONAL ALUMINIUM  MARCH 20 a.png


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shekharinvest
Yellow Belt
Yellow Belt


Joined: 21 Dec 2007
Posts: 549

Post: #261   PostPosted: Tue Jul 14, 2015 12:50 pm    Post subject: Reply with quote

Attached along is a Nifty hourly chart. One can wait for NIFTY to correct upto 8250 > 8180 to initiate fresh longs.

Happy Trading!
SHEKHAR Mr. Green



NIFTY HRLY JULY 14 2014.png
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NIFTY  HRLY JULY 14 2014.png


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vinay28
Black Belt
Black Belt


Joined: 24 Dec 2010
Posts: 11748

Post: #262   PostPosted: Tue Jul 14, 2015 1:38 pm    Post subject: Reply with quote

shekharinvest wrote:
Attached along is a Nifty hourly chart. One can wait for NIFTY to correct upto 8250 > 8180 to initiate fresh longs.

Happy Trading!
SHEKHAR Mr. Green


shekhar SL?
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amitagg
Black Belt
Black Belt


Joined: 01 Oct 2013
Posts: 4556

Post: #263   PostPosted: Tue Jul 14, 2015 3:18 pm    Post subject: Reply with quote

Stop loss as per EW can only be bottom of wave 1 - 7940. Yes Shekhar?
This pattern shall still support Inverse Head and Shoulder in making and seems quite reasonable. It ties with other harmonic projections to 8073 etc.
It also seems psychologically reasonable with undertone of bullishness still to give way.....
last time, Shekhar correctly predicted markets at 8900 when they were are 7800-8000.....and hit the near top.
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vinay28
Black Belt
Black Belt


Joined: 24 Dec 2010
Posts: 11748

Post: #264   PostPosted: Tue Jul 14, 2015 7:27 pm    Post subject: Reply with quote

SL may be above 8561 or 60tf close above 8546?
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shekharinvest
Yellow Belt
Yellow Belt


Joined: 21 Dec 2007
Posts: 549

Post: #265   PostPosted: Wed Jul 15, 2015 8:35 am    Post subject: Reply with quote

Amit, you are right SL for longs is below the start of wave 1.

Vinay you seems to be asking for SL for shorts for the ensuing wave c.


First the hypothesis.

A fresh impulsive wave has started from the low of 7940 and it has done a 5 wave move up i.e. wave 1 is done wave 2 to follow which generally retraces 62% of the move hence 8175. But often times wave 2 retraces merely 38% in the present case where I have marked end of wave a that is exactly 38% of the prior move probably the next wave 'the wave 3' has begun (only time will tell).

Since wave 2 retraces 62% generally hence I marked that point as 'a' and waiting for an up move as in wave 'b' to be followed be wave 'c'. Where the 'c' will end depends from where it starts.

Now wave 'b' can retrace by any amount say from 38% to 123% of wave 'a' leading upto as high as 8615. Wave 'b' are the treacherous waves difficult to predict may take any shape Zig Zag/Triangle/ Flat correction /Expanded Flat.

It is better to wait until some clarity develops. If we see sharp rise as in wave three time to long and if there is confusing move certainly wave 'b' is in play.

Going short with SL at 8561 is a legitimate trade for TGT of 62%, 100% or 162% of wave 'a' from whereever wave 'b' ends.

SHEKHAR Mr. Green
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vinay28
Black Belt
Black Belt


Joined: 24 Dec 2010
Posts: 11748

Post: #266   PostPosted: Wed Jul 15, 2015 10:25 am    Post subject: Reply with quote

many tks shekhar. yes I was asking SL for short. I am still long progressively booking my calls but I am thinking of shorting above 8540 with NS touching 8562 as SL. Obviously I don't understand EW.

tks again.
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shekharinvest
Yellow Belt
Yellow Belt


Joined: 21 Dec 2007
Posts: 549

Post: #267   PostPosted: Sat Jan 02, 2016 3:38 pm    Post subject: Reply with quote

Starting from the Low of 7548 on Dec 14, 2015. Wave 2 retraced exactly 62% and wave 3 stretched beyond 200% followed by wave 4 retracing 38% note here that two hourly candles had taken support at exactly at 38.2% line the next day price opened below 38% retrace and closed above 38% on hrly basis and therefrom began the wave 5. Generally there is only one extended wave in an impulse but here we are seeing an extension in wave 5 too.

Have a look on the subwaves of wave 5.
Wave ii is 62% and wave iv is little short of 38% retracement.
Wave iii is 162% of wave i
wave v has so far done 38% (62% comes at 8006) of o to iii at this point wave v is also approx 78% of wave i

The higher wave 5 has completed 78% of 0 to 3 and wave 5 is equal to 200% of wave 1

All the above fibo ratios and EW analysis point that possibly this up move has been done and now we can see a correction which can lead us to 7700. As there is no point of negation for this hypothesis and wave 5 may continue upwards as well, we may be somewhat sure of down move once low of wave iv is taken out which is at present at 7884, any pullback from there could be shorted with the high as SL.


Happy Trading !
SHEKHAR Mr. Green



nifty jan 2016.png
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nifty jan 2016.png


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amitagg
Black Belt
Black Belt


Joined: 01 Oct 2013
Posts: 4556

Post: #268   PostPosted: Sat Jan 02, 2016 6:25 pm    Post subject: Reply with quote

Thanks as always for the great refined analysis

Can there be extensions in both minor wave 3 of 3tf and 5tf wave simultaneously. Does smaller wave 1 and wave 2 qualify as impulse and correction by sub divisions . just a check . Not that I believe otherwise.
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rameshraja
Expert
Expert


Joined: 24 Nov 2006
Posts: 1121

Post: #269   PostPosted: Sat Jan 02, 2016 6:40 pm    Post subject: Reply with quote

Hello shekhar

Please see the attached Nifty Spot Daily chart.. First Resistance around 8060 and if it manages to hold this, probably could move towards 8250 and stall around that Level.


C T RAMESH RAJA
SEBI RA REGD NO: INH200001673



Chart_16-01-02_18-30-17.png
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Chart_16-01-02_18-30-17.png


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shekharinvest
Yellow Belt
Yellow Belt


Joined: 21 Dec 2007
Posts: 549

Post: #270   PostPosted: Sun Jan 03, 2016 11:04 am    Post subject: Reply with quote

amitagg wrote:
Thanks as always for the great refined analysis

Can there be extensions in both minor wave 3 of 3tf and 5tf wave simultaneously. Does smaller wave 1 and wave 2 qualify as impulse and correction by sub divisions . just a check . Not that I believe otherwise.


Amit

Can there be extensions in both minor wave 3 of 3tf and 5tf wave simultaneously.

I could not get what you mean?

Does smaller wave 1 and wave 2 qualify as impulse and correction by sub divisions

Yes off course. Elliot wave is Fractal in nature i.e. each wave (impulse)
consist of 5 sub waves 3 impulse and 2 corrective waves. You can
keep going lower but it gets difficult to identify, waves are clear on
Higher TF.

Here is further possible subdivision of Subwave v for which chart was posted yesterday, I have made no calculations just as seen by eye.



Nift subwave 5 min.png
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Nift subwave 5 min.png


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