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 ... -
Will not be available to intra update . Suggest one of our readers to update on DHEma-HHEma-HCEma & HLEma for possible support points fo...
14 comments:
A Million Dollar Question .Whether Dollar index will spoil the party? Also there are no any triggers. Only technicals cannot hold the market for a longer time. For healthy upward move Nifty has to go down below 5000.Upward move without correction will make market more shaky and unsustainable.Also still no one has the correct idea, including exchanges about extended market hour’s initial impact from tomorrow
Extended market hours were never seriously considered and discussed with big brokerage firms even from Mumbai, from where 60 to 80% day trading volume comes to exchanges. It is going to impact a big blow for market. Our banking system is not prepared for the same. In Day trading business, margin money is the biggest criteria. In our country, still it is not a ruling practice to trade on individual terminal.
All this hue and cry will melt in some days as the reality will sink in to market participants..
keep seeing..
Regards
prakash
I am totally on short side now...... want to see 4990-4960 after europe opens.
Call addition is going... 5100CA added 1L in OI so far total in OI is 70.25L, tht of 5200CA is 74.64L.
Breaking this two will be hard for time to come.
Everyone will surely appreciate the contribution on Dollar Index update by "Mynac" and OI Changes update by "Prosenjit". These inputs have surely helped all.
note the sig OI addtion of 1.8 lacs (56 L tot) in 5000 PE alongside 5100 CE...can that help to hold 5000
Ilango Sir, Can we go long above 5050 for a target of 5070 and review later once 5070 is reached.
ka,
Definitely Bulls will try to protect 5000-5010 but have to see how much they can. Bear camp is at 5100 and 5200 as of now, break of 4092-4090 and bears will shift to 5000 lvl. But in no way we will have a huge fall below 4900.
Btw when is RBI rate meeting this month. With high food inflation GOI is already been attacked by opposition in the house, any -ve news on that front may trigger some more down fall.
shanghai index is down by 2%...nifty fut are in 6 pt discount...4L addition on 5100CE...but there is 3L addition in 5000 PE too...so its a strangelhold for now..who blinks first
Dear Prosenjit,
From where do you get the OI information excluding nseindia
Thanks
Sanjay
sorry Prosenjit, not sure of RBI meet....
RBI monetary policy review is on 24 or 27 jan 2010 but I expect some monetary action in december itself.
extension of trading hours might be witheld for sometime...breaking news
ilangoji is it a bullish tri-star doji formation in nifty daily chart.
Option data do not support that ..... please give some view.
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