Elliot's Impulse waves.(Part-5)
IMPULSE WAVES :- The Basics Waves that move the market in the direction of its main trend either up or down are called Impulse waves. 1....
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5010-5039 supply zone proved a ST resistance. 5002 proved a break down point. 4945 to 4982 proved a corrective rise, monitored with an ...
3 comments:
sir..looks like the shorts are getting squeezed again ..its funny how we mirror the us markets so much..there was a squeeze yest today and its become a routine with bears getting ready to strike and then comes liquid power to squeeze them out..i wonder what will happen when one day there is no cushion to support the fall...
Hi..Shaq,
Looks like the hourly corrections are over & the mkt is ready to move up again supported this time by Reliance.
Since the larger trend(Daily) is still up, I mentioned a S&R @ 4670 for a sell @ 4660-4665. So it is still a buy on dips market.
Best regards.
ilango
yes sir..RIL ONGC are showing great strength...also nifty futures have been converted to a premium of 10-12 pts!!from a discount of 7 in the morning ..maybe there is long addition..have to wait and see where this script turns
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