expected range for monday is 5916-5971 range
possible range of tuesday is 5979-5941
from wednesday nifty may make U-turn for downside

GMR INFRA DAILY CHARTS

BUY GMR INFRA ON ANY DIPS NEAR 17.5 SL BELOW 16.0
TRGTS 24-32 IN NEXT 3 MONTHS
18.6 
MOMENTUM ON  SUSTAINING ABV 20.8

STOCKS TO WATCH

LOW RISK HIGH REWARD STOCKS:

BUY GMR INFRA ON ANY DIPS NEAR 17.5 SL BELOW 16.0
TRGTS 24-32 IN NEXT 3 MONTHS
18.6 
MOMENTUM ABV 20.8



BUY LIC HSG FIN ON ANY DIPS NEAR 251-53 RANGE FOR TRGTS ABV 284
SL BELOW 247
CMP 265.7 

 

nifty views 3/12/12-7/12/12

Next week ns may trade broadly trade in small range of 5946-5814 range(.max range is 5990 ns next week)

O.I in nf increased by 8.5% with rise in nifty indicating built up of new long positions
addition in O.I in 5900pe was more than 12lakhs indicating pe writers are having advantage
nifty may consolidate next week  after sharp upmove to eat premium in options
also some cooling is required in hourly and daily charts to create some space so that nifty can make another round of upmove after some consolidation
in december series expecting nifty to target 6086 on higher side
strong supp are at 5814 and 5777
any close below 5777 will make nifty weak again till then its buy on every dip
slowly but steadily nifty will move on towards 6137 in january from where some meaningful correction of near 300 points may be expected
till budget ns may trgt 6250 levels

strategy for next week
:buy 50%nifty near 5840-45ns levels and more 50% near 5814 with sl below 5804
sell 50% nifty near 5918-24range and 50% near 5946 with sl abv 5967
trading range based on some fractals calculation are as below

3rd dec............5841-5924
4th dec            5815-5929
5th dec            5895-5945
6th dec            5848-5930
7th dec            5869-5946

hold longs on eod on friday as opening on 10th may again will be gapup

please take your own decision be4 trading on above views.i may be totally wrong also

BEARISH WW DEVELOPING

 BEARISH WW DEVELOPING IN NIFTY
TRGTS NEAR 5840 NEAR 1.00PM


EXPECTING NS TO TRADE AS
5897-5924-5841-5854 ON MONDAY
5816-5929-5815-5916 ON TUESDAY

PLEASE DONT TRADE AS PER THIS VIEW ONLY ITS JUST BASED ON SOME CALCULATION I AM BACK TESTING

WOLFE WAVE PATTERN

Wolfe Wave

A Wolfe Wave is a predictive pattern used in technical analysis. It is said to be present in all securities markets and all time frames. Because Wolfe Waves rely on time as one component it may not be as reliable when using it on a non-time based chart, such as a tick, volume, or range chart.

The Wolfe Wave is named after Bill Wolfe and Brian Wolfe who say that they "discovered it, and did not invent it."

In its most simplistic terms the Wolfe Wave pattern consists of five waves with the fifth wave extending beyond the equilibrium line. Traders will then extrapolate a line from wave 1 to beyond wave 4 in order to ascertain a predictive price at point 6.
Wolfe Waves have the following characteristics.

1. Points three and four should stay within the channel created by one and two.
2. The symmetry of waves one to two is the same as waves three to four.
3. Wave (point) four is within the channel created by waves one to two.
There is regular time between all waves. (This is why tick, volume and range charts may not produce accurate Wolfe Waves.)
4. Wave five goes pass the channel created by waves one and three and is the trade entry signal.

The target exit point for the trade is a price along the line created by waves one and four at point six.

LINKS:
http://www.wolfewave.com/Why_does_the_wolfewave_work_so_well.htm

ILLUSTRATION OF BULLISH 2B PATTERN

BULLISH 2B PATTERN

2B Patterns are described as failed Double Top and Double Bottom patterns. They are most powerful patterns but work well in larger time-frame charts where as in small-time frames, they are only 50% successful.
2B Patterns form when price fails to trade above previous new High or below previous new Low(see also 1-2-3 reversal pattern). 2B Patterns also have very specific rules to trade.