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....
-
5010-5039 supply zone proved a ST resistance. 5002 proved a break down point. 4945 to 4982 proved a corrective rise, monitored with an ... -
Will not be available to intra update . Suggest one of our readers to update on DHEma-HHEma-HCEma & HLEma for possible support points fo...
40 comments:
Hi, Good Morning Ilango !!
GM, Dinesh.
Hi Ilango,
What about nifty? I sent u a mail yesterday evening please reply...
Hi..Dinesh,
Check your mail..I did reply last night.
You will get info. on that from "Rajandran" of Market Calls.(Link provided in my "Blog List".)
sir, i want to learn EW and channeling techniques. . can you please guide me where to get the tutorial on the internet.
Dear illango ji,
have we finished 1st wave at 4946 where will its confirmation come.
Thanks
Hi..Rajnish,
Learn simple TA such as Channelling, Chart patterns, (Reversal patterns, consolidations, etc), Simple Momentum indicators(Roc, Stochastics) & Directional indicator (Macd) from some of the links in this blog such as "Traders Ring", "Education TA/ EW".
As you get a grip over these, trade based on these with very small quantity of shares(You don't get hurt but learn & you will have less fear to handle small).
After these, if you still want to learn more, learn the very basics of EW and start seeing waves in each chart & market moves..
As they say, "Best way to learn a language" is to think in that language. I did that with Hindi & English.(I was a graduate and couldn't speak a sentence in English...that was our Educational system then, now improved , I guess).
Similarly, if you want to master EW, look for waves..you may make errors in labelling initially but you will get over them soon.
Thats it for the day..
Hi..Renu,
There are few possibilities there..We may have ended there or one more downswing after a sideways move.
Even if we have finished the "i" wave, the "b" of the second can be irregular if bearishness is strong..Lets keep that in mind.
Best thing is "Calculate how many points it has retraced during this down move from 5079". When ever, it retraces that much, fine tune & sell till a HH & HL is formed.
illngo ji,
Best thing is "Calculate how many points it has retraced during this down move from 5079". When ever, it retraces that much, fine tune & sell till a HH & HL is formed.
didnt get it properly could you please tell again.
Thanks
hi llango,
do u think option prices too must be following ew count?? if not all then atleast at the money nifty strike options, giving an early signal....although risky they can give hansome returns...can we try this on a trial n error basis once? worth a try i think...
sir i hav a doubt ...as u say about opening brkout if it crosses above 4983 we got to buy nifty keeping pivot ie 5002 as a target na sir ..or is there anything wrong in my perception ....
Hi..ankitsolanki,
Why label the "Options" but follow the EW of its underlying and trade in them. One should also remember to "BUY" in a big move and "Write" in a Sideways move. Judging such a possibility is crucial for Option trading based on EW.
"Sitting tight" is the ultimate challenge. And ability to accept our mistakes & rectifying them promptly.
Hi..d.a,
Firstly Refer the "Always start trading with these" link at the top of this blog.
1. Trend: Just reversed to Down. Follow up confirmation is required.
2.Pivot, support & resistances: As we have been falling since yesterday, with -ve global cues, we took the first support @ 4950 and bouncing. SO if you want to go long , then 4950 should have been the right one.(And remember you are trading against the trend). As I have shown in the chart, the moves were expected to be choppy.
3.ORB- works in a trending market well. So I would mostly use this to trade a long in an uptrending mkt & short in a downtrending mkt. Also on critical reversal days..
4.Divergence: As the fall is after a multiple negative divergences, trade shorts with appropriate levels.
5.SAR: SAR gives whipsaws in a sideways mkt. So far, not worked today..
So the best way to trade today is keep the levels, use intra charts with stochastics & rsi, play for small moves.OR sell at higher level once & hold.
3.
Dear, d.a,
Pls note: previous day closing price is also a cirtical resistance(specially when the market trend is down).
Unfortunately today it appears just above the ORB and restirct the nifty b4 pivot. Next time be prepare for such a common scenario. Also, it indicates more bearishness in the market.
Happy Trading.
thank u very much sir .. i very clearly understood ...there are so many technicals that is to be taken into consideration ...
illango ji,
we have retrached 133 points from 5079 to 4946 and u said "Calculate how many points it has retraced during this down move from 5079 ,When ever, it retraces that much, fine tune " ......wanted to know what does that mean .
Thanks
Hi..Renu,
Since 5079 NS top, Nifty did so far 29 to 39 points pull back on three occasions during this down move(5017 - 5046 = 29; 4964 - 5002 = 38; 4946 - 4985 = 39).
Knowing the first 2 retracements, one would have sold @ 4984(a 38 point retracement) and even if the market rallies, the loss will be minimum or a rally could be sensed & could get out with profits. So far in the hourly charts, it is making LL & LH(Lower low & Lower High). So selling into retracements is the best strategy. That is what an EW does..
DEAR ILANGO
PL WILL U SEND ME UR EXCEL SHEET
Hi..Madhu,
What's your mail id..??
Hi Ilango,
Please send me excel file also.
dinesh.dkg@gmail.com
Dear Sir,
Plz send me excel file with procedure..
Hi Ilango,
Please send me excel file also.
captrajlakhani@gmail.com
Thanks
Dear Mr.Ilango,
i strongly feel we can wait for a fresh shorts/sell in Nifty at-4929.if it breaks this level we expect a aggressive bearish trend.
for aggressive trader may go short at 4943 (will be the ideal break out for short.)
i need your opinion in this regard.
Illango,can u send me the excell sheet.
my id is focustheuniverse@gmail.com
Ramani.G
Hi Ilango,
Nifty Future is trading near its 200 min ema on 20 min chart. If closes below it then see some more downside. Close at 12.40 is crucial. 11 candles taken support on it. So it will change the picture.
Regards
Amit
Dear Sir,
Plz send me excel file with procedure..
my email : dare44uu@gmail.com
I have sent the file to Dinesh.
I require your mail id - Madhu, dare..
Hi Illangoji,
Can pl. send me the Excel file with guidance..
Thanks,
anandan.R
Sorry my email ID : anandan777@hotmail.com
Thanks,
Anandan.R
Hi..ramani,
4942 is the 5 day low. Yes, that is a better confirmation of a reversal.
5 day low is the basis of conservative trader but I have combined it with EW and selling into strength at the wave completion and now awaiting a confirmation.
i am sending the file to all who have given the mail id..
Share your experiences..
Hi Ilango sir,
I want to know wether the reversal in dollar happend or not. Because that may also add to the bearishness of the market. thanks in advance for your views.
Thanks illango,for your confirmation.
Hi..San,
Dollar has not yet confirmed a reversal.
It might coincide with breaking of "4925 NS", I guess. If not, we are in for some surprises or choppiness..ahead.
PERFORMANCE OF TODAY'S TRADING CALL@TEAM STOCKRESEARCHERS@ 19.11.09
For future calls performance sheets
Visit http://www.future-friend.blogspot.com/
Dear Friends,
The profits are indicative in nature.
INTRADAY FUTURES PROFITS +6270 in Just 1 Lot of Trading.Charges 6600 for 2 months.
TSR NIFTY +4750 .IN JUST 1 LOT.Charges 3700 for 2 months
INTRADAY OPTIONS -2922 IN JUST 1 LOT.Charges 3900 for 2 months.
Yahoo messenger id- TSRSTOCKS
Google talk support id- Contact@niftyviews.com
for payment details OR any further query email to contact@niftyviews.com
1 calls Hits target 0 sl taken and 1 booked at costs
For a Free Trial Sms Join Sresearchers and send to 567678
To subscribe FOR FREE TRIAL using your phone, SMS 'ON SRESEARCHERS' to 09870807070.
or be online in our chat room in market hours http://www.niftyviews.com/
FOR PAYMENT DETAILS VISIT
http://groups.google.com/group/STOCKRESEARCHER/web/payment-details
DO READ THE DISCLAIMER ON THE BLOG.PLEASE SEE THE BLOG FOR OUR PAST PERFORMANCE.ALSO REMEMBER THAT PERFORMANCE SHOULD NOT BE TAKEN AS AN EXPECTATION,INDICATION OR ACTUAL FUTURE PERFORMANCE.
http://smscalls.blogspot.com/
REGARDS,
GAURAV,
GKS.
HIREN,
RAMKUMAR,
MANAS,
MITUL,
SHALIN,
SUNIL
VARUN,
VINAYAK.
ADMINISTRATORS.
TEAM STOCKRESEARCHERS
For Anything Related with stock markets and our online Live chat room visit
VISIT
http://www.niftyviews .com/
Hi,
I forwarded to all guys.
thank u dinesh&illango 4the excell sheet
Sir kindly send your excel sheet with procedure .My ID: rboopathir@gmail.com
Excellent blog--
You said at 1230 pm today--
4942 is the day low. Yes, that is a better confirmation of a reversal.
5 day low is the basis of conservative trader but I have combined it with EW and selling into strength at the wave completion and now awaiting a confirmation.
"That is what happened----great...."
Please send me excel sheet with guidance. My email id is songainnatesh@yahoo.com
DEAR ILANGO SIR
MY EMAIL ID IS hnkascil@gmail.com.
PLEASE SEND ME EXCEL SHEET
Respected Mr. ILANGO
I am regular reader of your blog. I do not have any knowledge of exel sheet. I will be thankful to you if you will be post me with some explaination please at krd53695x@gmail.com
Thanks
Kamlesh.
Dear Sir,
I am also like Kamlesh a regular follower of your blog and would be grateful if you could forward me the copy of excel sheet which you will be sending to Kamlesh or shall be grateful if Kamlesh can forward at ask1255@gmail.com
Post a Comment