Nifty TF 75 Minutes for the Period ending on 30th January 2015

Further to my

http://lalitlk-lalit-lk.blogspot.in/2014/12/nifty-index-time-frame-75-minutes.html

Notice the divergence while forming double top & follow up by dipping of the zero line today. 

Nifty Time Frame 75 Minute Index : A review as on 16/01/2015

Further to my

http://lalitlk-lalit-lk.blogspot.in/2014/12/nifty-index-time-frame-75-minutes.html

Here is a Nifty Chart for the period from 12th November 2014 to 16th January 2015.

Nifty looks to have breach TL 8627-8445 decisively by staying over their with more than 5 candles (10 so far) ; further MACD (5,34) being higher than that (114, when ATH ) , it may see new high in coming days. 

Nifty Time Frame 75 Minutes : Update # 1

Further to my post
http://lalitlk-lalit-lk.blogspot.in/2014/12/nifty-index-time-frame-75-minutes.html,

here is an up to date Chart with Histogram :

Nifty Bi-Monthly Chart 1990-2014

http://lalitlk-lalit-lk.blogspot.in/2014/01/nifty-bi-monthly-chart-1990-2013.html

Up dated Chart is given below :

Nifty Index Time Frame 75 Minutes for Period ending 31/12/2014

First let us have a look at a Daily Nifty Chart with 150 candles for Period ending 31/12/2014 :

With reference to red rectangular marked in the above Chart, I had prepared a TF 75 minutes for the period from 19/11/2014 to 31/12/2014. Data based on TF 15 minutes were used ; from a batch of 5 candles, opening of 1st candle & closing of 5th candle were taken as opening & closing of TF 75 ; 

maximum of high of all candles was taken to be high & similarly minimum was taken to be low. Resultant chart was prepared through Excel

Simple moving average of closing were determined for SMA_5 & SMA_34 & finally histogram were prepared with Excel. Charts followed :

Nifty Index Time Frame 75 Minutes : An Introduction

 The Elliott Oscillator is most effective when the Chart has the 'correct' number of bars. From 100 to 150 is the number of bars  being used with EWO {Basically, MACD (5,34) }. While Dr Bill Williams suggest 100-140, Tom Joseph insist on 150, being the right,

 ,  http://www.tradingfives.com/articles/elliott_oscillator.htm

 Market in India is from 9:15 AM to 15:30 hours (3:30 PM) and of 375 Minutes duration. As such, a TF of 3 minutes cover a day with 125 candles, TF of 5 minutes covers 2 days, TF of 15 minutes cover 6 days & TF of 75 minutes cover in 30 days - all with 150 candles.

Traditionally, Daily chart  of around 30 weeks is of /around 150 candles. Fractal of daily chart is taken/accepted of being hourly, However, in my opinion , the hourly chart is asymmetrical in nature ; 1st candle depicted as 9:00 is based on 3 candles of TF  15, & 7th candle depicted as 15:00 is based on 3 candles of TF  15. Balance 5 candles (10:00 to 14:00 inclusive) are based on 4 candles of TF 15.  Best option for fractal is no doubt a TF of 75 minutes.

Data were manually tabulated & sourced from : http://www.netdania.com/Products/live-realtime-streaming-currency-exchange-rates-charts/chart-forex-charts/NetStationFullWindow.aspx

OHLC basis data was selected from TF15 minutes data & feed into an excel sheet :

First chart from TF 75 Minutes revealed  High-Low averaged 31.30 points with lowest being 9.35 & highest being 76.75 in a time of 75 minutes.

EVA (Economic value added) & a selection from Indian Corporate World.

EVA (Economic value added) was first seen by me in the pages of the Annual Report by Hindustan Lever a few years back.
Simply a Company uses Shareholders' wealth & burrowed capital to run a Business. Consider the cost of borrowing in a year to be 10% say ; shareholders's Wealth Capital & accumulation) does NOT cost any thing but these risk capital may be assigned a cost element 1.25 times the cost of borrowing {extra 25% for risk associated).
Whenever, a Company perform well & in excess of such deemed cost of risk capital, it is said to have EVA plus Company. A simple parameter for this is RONW (Return on net worth) being EPS (earning per share) by BV (book value). Based on Data (sourced from Capital Market, Aug 4-17 issue), the excel incorporate annual BV, EPS & trailing EPS & calculate RONW's ; had used a cut off of 20% RONW in the said source & Sales exceeding Rs. 300 crores to weed out marginal (small) Company.
Nifty are listed in a sheet & others (Including Nifty) in another

https://excel.office.live.com/x/ExcelView.aspx?FBsrc=https%3A%2F%2Fwww.facebook.com%2Fdownload%2Ffile_preview.php%3Fid%3D362945870525538%26time%3D1408251485%26metadata&access_token=1835286898%3AAVKFbDFpGkcVizzIekjx9VUFRuPzMyfOF7pzIEQfkVUZ2g&title=Select_RONW.xlsx

A selection of out performers in EVA positive sense :

A selection of under performers in EVA  sense so much so may be called wealth Destroyers

A selection of out performers in EVA positive sense from Indian Corporate world (inclusive Nifty) :