Nifty completed the "v"th of 1st or A at the open @5090, moved up in a classic zigzag "abc" with clear subdivisions to the 5150-5160 resistances and broke down in countable impulsive down to the first major support of 5080 and bounced off into the close..All these may be viewed in the "1-minute" chart posted earlier.
It does look as though we are heading into a "Make or Break week" ahead.
25 comments:
iLango Sir, please be kind enough to send me too the excel files.
my e-Mail id is pradeep.palghat@gmail.com
hi ilango
may god bless you for all the help you are giving people. nowadays no one want to share any knowledge that too in market timeings you are shareing all your tradings!!!
what an extrationary person you are.
i got the file sen dby you .i am using only yhaoo 5day chart. where can i find hour high low an dclose ?
any special chart needed or from nseindia tamelite chart i can find?
syamala
Hi Ilango,
I have doubt.
In First chart(Weekly), Why "A" has been marked at 2600,whereby, suggesting that we are in "C" downwards?
As I reckon, your earlier charts showed "A" at current "B" with bullish "C" impulse outlook.(I dont remember the date, but I did see it in recent past.)
I am new to EW. Kindly clear my doubt.
Regards
Yogesh Tiwari
Hi, Ilango,
Thanks for such good explanation.
Is it possible for you to upload the hourly bar chart every day? Currently, no website(even ichart) is providing it free. If u can do so every day, it’ll be a great help for lot of peoples.
Inspired by you I m trying as far as my best.
Happy trading with u as always.
Sir,
very lively and interactive analysis. It is just learning many things directly during the trading hours. In to days chart ,around 5080 level , when green dots come shorts to be covered . Some times buying emerges but subsequently come down to below the green line with out any red dot. How to interpret whether covering is short covering by intraday traders or actual buy etc.Further in each candle how to know the candle value viz open, close ,high . Further I have downloaded a book from VFM forum link about candle stick analysis. I want to compare this . So any chart/any site is giving along with candle , the type of candle formed viz bullish engulfing etc etc . In addition I want to know how many red candles after than one blue candle is forming since some times back I have read that continusiouly - candles formed and to day definitly one bullish candle will be there. These are for learning purposes .What is the day candle ,(formed by buy and sell) weekly candle, monthly candle and how they are formed For trading simply follow illango sir,blog and hementha comments and pure profit chart
Thanks for the all the memebers and Illango Sir
Bala
GE Sir i am carrying short NF from 5122,But surprisingly NF closed 5133 in premium of 23 points to Spot5108 and Dow trading at 130+ May be monday oppening arround 40+ what should i do? to close at oppening or should i wait for SL 5170 spot?
Sir, please be kind enough to send me too the excel files.My id vallala.mohan@gmail.com
Three of my favorite books on Elliot waves:-
1.Elliott Wave Principle Forex By Balan , Robert
2.The Elliott Waves Principles By Prechter R
3. Elliott Waves- Get Applying technical analysis (out of print)
===========
As far as my view:
trend
at present time friday dec 4
dow in neutral(with negative bias),
dax in up trend (closed)
hang seng up trend(closed),
nse neutral below 5080 will be bearish.
I m thinking for sharing these types of information generated from my system first (through yahoo messenger freely, (may be from jan 2010)] for intraday.
U can observe it for some days then if confident u can use it with ur trading style). I think it can make a lot of difference.
This’ll be first step for helping u. (all will be free but, I have very little time during trading hours).
I think during trading times only ‘up’ or ‘down’ 'neutral' [intraday trend (not frequent signal)] can make big difference. Lets see.
If you make big profit with it (at least 500+pt balance), then it will be easy for me to go for next step. And give u selected call as time permits. I don’t want loose at any case and my time is limited (don't want to hurt my trading style). Stil I want to help.
so this may be first step (to help peoples)
Hi, bijara, h2o, dinesh ... R u interested?
But I'll not able to talk with any one. It will be just like mobile sms (one way).
[My system is solely developed by me, I m a M.C.A too (strong in mathematics but weak in English!]
Happy Trading with ilango.
Hi..Pradeep,
i will send the file tomorrow.
Hi..Syamala,
I want you to post some simple charts with EW labels. I know you are capable of that.
Hi..Yogesh,
If you see the alternative counts, you will get the picture. As the prices have unfolded, some changes were made. I have always labelled 2539 as "A"(The big fall from 6357 to 2258, ending in truncation @ 2539).
"a" is the part of "abc" of "B" which is the corrective rally for the "A" down. "b" may be a complicated one and hence so many diff labelling subsequently.
yes, hemanta,
I will post the "Hour bar" everyday if that will be of some value.
Hi..Bala,
As long as you are fairly certain of the "OB" & "OS" at different time cycles, you will be able to handle the price movements. I do not really go into the "whys"..The important factor to remember is that "Give more weightage" to the higher time frame and use the lower time frame for better entry & exit. "Candle stick analysis" gives a very good pictorial view of price behaviour.
hi..ramu,
Never worry after mkt hours. It does not change anything and it only clouds your judgement. Remember this: Our Nifty Technicals will always prevail. If there is any failure, it may only because we did not read the mkts properly.And to read better, develop a detached attitude.(Like the professional surgeons)
Best regards.
ilango
hello Hemanta and illango sir;
your valuable knowledge which you are sharing with us are of great use.slowly i learnt to be with momentum. but don't know how to label for EW. i gone through vfmdirect.com.there on EW nothing much is there.my question is how to start with labeling. whether it is A or a or i etc.your guidance is required.
hemanta from where i can get the book mentioned by you. if it is available on net. please give me link.
thanks
happy learning with illango sir.hatsoff to you.
Hi, Ilango.
Thank u very much.
----------------------
Hi,
Rahul Gupta,
use Google (with add on words like '.pdf' or free download) .pdf will be more useful. click links one by one see from which one u can freely download.
If u want to buy the best site is
http://www.amazon.com
for example one link.
http://www.picktorrent.com/download/07/1675093/balan-,-robert---elliott-wave-principle-forex-pdf/
I have bought last book (may be out of print) It is hard to find it as free.
However u can search using Google.
-------------
hi ilango
may god bless you for all the help you are giving people. nowadays no one want to share any knowledge that too in market timeings you are shareing all your tradings!!!
what an extrationary person you are.
i got the file sen dby you .i am using only yhaoo 5day chart. where can i find hour high low an dclose ?
any special chart needed or from nseindia tamelite chart i can find?
syamala
___________________________________
Nothing else to say..................
Thank you very much ilingo............
syamala, you may try google chatrs
Dear Illango,I am following your posts regularly and since minimised my losses.I humbly appericiate yours and mr.Hemanta"s services topeople like me who does not know abcd of TA.I pray God to give you health,wealth and peace.
Sir, will be kind enough to send me excel file to my ID jrai_61@yahoo.co in your leisure time. Thanks in advance----Raichand
Sir, in your post you have mentioned OB and OS, does it mean Over Bought and Over Sold? Please clarify.
Hi Hemanta,
We will wait for that day when u give service via yahoo, but we want to learn and trade like u and ilango. Thanks
Hi Raichand,
Yes, U r right it means Over Bought and Over Sold, U can Check it with Stochastic, Williams % R, MACD & RSI etc.
Dear Ilango and Hemanta Sir,
Thanks for all the pain u take to educate us. Your valuable comments during market hours has helped me cut my losses. No one does it for free, and the ones who are charging are also not helping our cause.
Sir Ilango, its my request to u to kindly provide me the excel sheet for my reference.
Thanks & Regards
Sanjay Jaiswal
Hi..Raichand,
I tried sending you the file but it failed both times. Send a test mail to me(vanilango@gmail.com)
Hi..Sanjay,
I have sent the file to you. And thank you. Believe me when I say "I gain a lot when I try educating my fellow traders"..
Dear Ilango,
Thanks for your prompt response. I am overwhelmed that you sent the file within 10 min of my post. It will definetly help me in my trades.
Thanks & Regards
Sanjay Jaiswal
Dear Mr.Ilango and Mr.Hemanta.
I am working in shifts.
during offdays and nightshift time only I am trading.Thanks Mr.Ilango for sent the file.
Mr.Hemanta from the all ur old posts, I am copiying ur teaching posts and Mr.Ilango's chart based posts into a seperate file.
I will go day by day to improve myself.
Whenevr u starts Y/M service,consider me also.But Iam the very new to this blog,if u have slot after the seniors here,ple.iclude me in ur list.
ONCE AGIAN HEARTULL WISHES U GUYS FOR UR SERVICE.
Thanks
Raj.
Hi,
Marketpulse S&P Team
Thank u.
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Hi, all friends,
I am going for a long holiday (may be 2/3 week).
As far as my trading style, I trade for 3 month Cycle.
Then close all position and don’t look at the market at all. Enjoy with my family (complete holiday).
Then, back again for another cycle with lots of energy.
I’ll be back here, whenever I start my trading for next cycle for another 3 month (next time with my yahoo service free to all).
I believe a day trader must preserve his energy, if he wants making money from the market constantly.
I think it is the best time (for holiday) bcoz, generally whenever my positional long closed; automatically I have entered in positional short. Yesterday was different (as I am free with all position). SO MARKET IS UNCERTAIN.
I think, it is best time for going long holiday. From, my past experience whenever market gives lots of money in short times it wants back. So it is my best time for holiday.
This cycle was my one of the best cycle. I feel exactly like ilango:
"I gain a lot when I try educating my fellow traders"..
Thank u all. I will be back soon.
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Happy trading with beloved Ilango as always.
Thanks Raja.
Dear Sirs,
Thanks for the commendable service you provide to all your followers and I am proud to be one among them. I really feel that I am lucky only from the past two weeks when I started to follow your blog. I used to feel that I do know about trading but only after visiting your blog I felt that I have not even qualified for LKG. once again thanks a lot for your teachings.
dear sir;
how to lable EW. in your weekly chart you lable 2500+/- to A.how we could know it is A not B.?if it is A then why not from 2250+/- to 3900+/- in july to B. totally confused. how to start with labeling. A/a/i/alt a etc.please guide us sir.is there any indicator which shows the labeling.i read somewhere if MACD fast line is at highest point then it is 3rd wave.guide me sir completely gone mad with EW
Hi..Rajnish,
Firstly learn the basics of EW from the "Education TA/ EW" section at the bottom of this blog.
Next, refer in the "Labels" section some reference presentations with some charts for further reinforcements.
Only if you have "Patience" and some flexibility in your approach, you can master anything..especially EW study.
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