ilango

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A move below 11945 would suggest that this rally is not an uptrend but a corrective rise only !!

Based on latest prices, trade plan needs to be fine tuned. Prices have closed below 10Sma 11976 but above 50Dsma-11764. In the current scenario, 2 possibilities remain:- (Unless Mkt changes direction breaking key level)

  1.  The 2nd wave continues towards 50 Dsma. (Almost done or one more phase pending post this rally which can retrace any % of the last fall of 12159 to 11832)
  2.  The B wave remains in contention till below 12100 & more breaking 11700.

If remains above 11950-11960 strength would continue towards 12000-015 & above which 12045-065.

If remains below 12000-015, weakness would return towards 11950-960 & below which 11895-910.

Learn Elliott’s wave study with.. Frost and Prechter’s book “Elliott Wave Principle”- a free online version of the book is available here – the link. bit.ly/2Zj9v3W

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A reversal from key support zone (11819-11843) unfolding towards another key retracement zone of “11986-12015”

Based on latest prices, trade plan needs to be fine tuned. Prices have closed below 10Sma 11994 but above 50Dsma-11746. In the current scenario, 2 possibilities remain:- (Unless Mkt changes direction breaking key level)

  1.  The 2nd wave continues towards 50 Dsma. (Almost done or one more phase pending post this rally)
  2.  The B wave remains in contention till below 12100 & more breaking 11700.

If remains above 11890-11900 strength would continue towards 11950-960 & above which 11980-12000.

If remains below 11950-960, weakness would return towards 11890-900 & below which 11840-850.

Learn Elliott’s wave study with.. Frost and Prechter’s book “Elliott Wave Principle”- a free online version of the book is available here – the link. bit.ly/2Zj9v3W

Read the rest of this entry »

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If remains below 11910-930, weakness would continue..

Based on latest prices, trade plan needs to be fine tuned. Prices have closed below 10Sma 12013 but above 50Dsma-11746. In the current scenario, 2 possibilities remain:- (Unless Mkt changes direction breaking key level)

  1.  The 2nd wave continues towards 50 Dsma.
  2.  The B wave remains in contention till below 12100 & more breaking 11700.

If remains above 11800-11820 strength would return towards 11900-910 & above which 11925-935.

If remains below 11910-930, weakness would continue towards 11805-820 & below which 11750-770.

Learn Elliott’s wave study with.. Frost and Prechter’s book “Elliott Wave Principle”- a free online version of the book is available here – the link. bit.ly/2Zj9v3W

Read the rest of this entry »

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