"5080" may offer a support. Partial profits to book. Sell higher.
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...
9 comments:
Ilango sir, i exited my shorts.Now if we didnt get higher levels to short again, can we short below 5080 or 5055?
Sir,
At what level we can short again
5115 - 5120; 5130-5135 with a SL 5140Pivot.
Ilango sir, if it closes below 5140,are conservatives taking there shorts home?
hi..bizagra,
Read the table above. You will remember us discussing a Friday close below 5104(Week High ema) will bring in weakness. And if it closes below 5095(5-Day ema),good for bears. Otherwise..neutral.
As Nifty has broken the 2 day low and has not made a new high today, one can carry shorts with a Sl of today's high.
Hi, bizagra
pls follow me,
see yesterday day comments.
my stop loss was 5090. see it.
market today open from 5090 exactly. and up again. second time my sl occured FOR POSITIONAL LONG. squared of below 5090. total profit 5090-5005=85 for 3 lot and other 2 lot, i have previously said squared of at my target 5180 (i have said my target was 5200(+20 or -20 THE DAY B4) for other two lot 5180-5005=175 each.
U MUST READ EVERY COMMENTS HERE I HAVE POSTED ONE BY ONE.
I HAVE SAID I DONT TAKE POSITION OVERNIGHT UNTILL I MY PROFIT IS ABOVE MY STOP LOSS.
PLS SEE IT ALL.
todays call is not positional at all. i have squared off it with profit. But the profit is so small against the risk to reward ratio, even if I tanke only 1 lot against 5 squared off.
so no position at all. currently I m free with all position.
hi..bizagra,
Market makes my intraday position to positional, not me(I have said it earlier). My all trades is mainly based on risk to reward ratio.
As far as my observation, market try break the support of 5080 (I have yesterday said 5090&5080 pls see it), but failed. NOW UNCERTAIN WITH NEGATIVE BIAS (as my positional SL occurred) Mon day's give clear idea. But if try to goes below 5080 again it will be critical.
My today’s trade is based on the fact ‘if market tries to break critical support (5080/90) again and again, it is not good for bulls.
Market tested 5090 at morning, critical resistance was 5020. Goes above that and 2nd time break it again to test it again. So that was my ideal time to initiate a short with 20/30 SL. But market failed 2nd time too. So, it is very rare uncertain stage.
Do u understand (my above explanation)?
Sorry, todays another critical resistance was 5120(5020 mistake).
Hemanta sir,i have understood wht you are saying.Thanks for explaining.
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