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 ...
22 comments:
Dear Ilango,
When market is trading at yearly top,and everyone is extreme bullish also now a days not only our but any other world market don't require any good cues for up move, it is very surprising that yesterday's and today's intraday NFut.range was just of 31 points and 27 points respectively.It clearly suggests that AN EXPLOSIVE move is expected from Monday onwards.Today's cash and future data will add fuel to it.Let us see from Monday.Your Charts,Tech Table & Pivot Table will be GEETA,Bible for us.
Dear Ilango,
Today's close was very pecular. Today's high was higher than yeasterday's high while close lower than yeasterday's close!
After making observation on last 5 major reversal from top, I went back to 1997 and observed similar pattern on more than 10 occasions.
While wriing this the US DOW was minus in three digit. Monday could be a full blown down day and posibly start of reversal. Incidentally this is just after the solar eclipse.
Hi Guys, Monday market will open Negative.. due to Dow effect..
Yesterday I suggested to buy : 5300 Put....
I mentioned : " Market can't go up and up.. ", & also suggested to BUY RIL 1110 Put..
Hope to see both postions will give best profits on Monday opening..
Book profits as soon as possible.. Thanks : anandan.R
hi anandan and blogmates,
plz forward me the excelsheet of anandan for calls and puts. and how to use chartnexus document.
email id is saurabhmoond@gmail.com
thanx in advance.
Hi Anandan,
Kindly send the excel file to me too at
sujatacomm@gmail.com
Thanks
ranjeet
Hi Anandan,
kindly send your excel file to me also at
dlatha_63@yahoo.co.in
thanks
dlatha
@rajvada,
interesting to know abt historical reversal patterns, is it possible for you to post or if it is lengthy, can you mail me the same..my id is sriganeshh@yahoo.com
thanks
sri
Hi Anandan,
Kindly forward me the excelsheet of anandan for calls and puts and how to use chartnexus doc
my email id is tusharthete@gmail.com
thanx in advance
Regards,
TT
Hi Sri!
The dates are given below chronologically.
6th Aug 1997
21st Oct 97
21st Apl 98
14th Feb 00
13th July 00
13th Sept 00
16th Feb 01
4th March 02
10th Jan 03
15th jan 04
4th Jan 05
9th and 11th March 05
5th Oct 05
11th May 06
8th Dec 06
9th Feb 07
10th Jan 08
5th May 08
12th Aug 08
5th Nov 08
12th June 09
It is interesting to note that most top reversals have happened in Jan/Feb period.
hi anandan,
plz forward me the excelsheet of yours for calls and puts. and how to use chartnexus document.
email id is anil.s.trivedi@gmail.com
--looking forward for your mail...
---- Thnks
Hi Anandan,
please send a copy of chartnexus & excel sheet to me also..
emailid: vanasa05@yahoo.com
@ rajvada send me the detail of this dates file as hw u arrived at the reversal or a chart to explain few dates..what is d source?
regards
manunidhi@gmail.com
hi anandan ,
plz send me a copy of the sheets my email id is kavita_ dalhania@yahoo .co.in
thnks for the favour
regards
Hi Manu,
1)Go to the BSE Website http://charting.bseindia.com/charting/
2) Select duration as "Daily" and price style "Candlestick".
3)select the period for charting preferably for 24 months starting 1997...and keep progressing for 2 years once you complete the observation of the specified dates.
4) Check the dates mentioned on the graph.
5) Compare the candlestick of the specified date and the date before that.
6) Observe that the specified date's high is higher than the previous date and the close is lower than the previous date. You will find similar configuration for all the dates pair. Also observe the market trend after the specified dates for one to two months, you will find the market has made intermidiate top on the specified date and turned negative for a significant time and price levels. I hope this will help. Any specific observation by you could be shared
@rajvada,
thanks for the info.
My gut feeling of reversal is more based on astro inputs like Retro mercury turning direct and saturn turning retro with solar eclipse..
but not able to work more on this due to time constraints..
seen retro mercury takes market very high point but the gains are usually given up when it is turning direct...
this has happened last during sep 7 - 29 (2009) period and again during dec 27 (2009) - jan 15 (2010) period..
but it is good to see your scientific pattern analysis ...
good, keep working & keep sharing ...
best
sri
Hi Anandan,
Kindly send me the excel file at
vndevendiran@gmail.com
I have chart Nexus and working fine
Thanks
deva
Hi Anandan,
plz forward me the excelsheet of yours for calls and puts. and how to use chartnexus document.
email id is tulsithakur@g mail.com
--looking forward for your mail...
----Regards and Thanks
ttthakur
Dear Ilango and friends,
I confess my illiteracy in chart reading. But going sheerly by the chart header and since no other comments were made by Ilango, I see that most of your views are divergent from Ilango's. Or is it what Ilango is also smelling?
Kindly advise - is the trend upward or downward?
Regards,
S Rajagopal
dear ilango sir please update vie on sbi as it has broken support of 2160.
Hi Rajvada,
I am short in nifty at 5266 from Thursday. Only 2 lots. Can I expect profit of at least 150 points as your 'turning negative for a significant price levels' ???
Hi Saravanana,
I have not mentioned 'turning negative for a significant price levels' from current level. It is mentioned for the dates I have mentioned.
However if the observation made proves right we can expect some correction. Initially I am looking for 5150. If that breaks then 5040 which is very crucial. I will book 35% profit at 5150 and remaining 65% at 5040 if it comes. Fresh short postions to be made only if we trade below 5000. We will have guidance from Mr.Ilango also. Best to your trading.
Thanks Rajvada,
I will hold my 5266 short 2 lots with SL at 5290NS, and book profit in one lot at 5150 if it comes, and hold the second lot for a target of 5050 with SL at 5200NS.
Post a Comment