At 2.30PM: Any "Day Close" below 5256, close Longs as Risk Control.
OR Continue with original plan of SL @ 5225..
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 ...
25 comments:
ilango sir- i have a question, 15 min range was5282 and 5267. at 10 am nifty had already failed to break upper range and made an intraday doulbe top.at 10.08 it had broken 15 min op range on downside. why did u recommend long on pivot. was is a fading strategy? pls enlighten. pls find some time to reply.
hi..Piyush sharda,
Yes..It is "profit booking on +ve Asian cues" when the day in upmode. Hence, buy into dips either near the pivot @ 5265 or a "zig zag" correction from 5293(yesterday ) to 5250(today) as per EW study.
Besides the "Yahoo intraday" chart of 5 days would show a cluster of supports @ 5250. hence, a long trade to be with the trend.
Hello sir ILANGO,
Some i am explaine abt bank nifty EW pattern with sown table
wave 1 3314 to 7711 (up move)
wave 2 7711 to 6393 (down move)
wave 3 6393 to 7720 (up move)
wave 4 7720 to 6988 (dowm nove)
wave 5 6988 to 9630 (up move)
{wave 5 is explosive move in nature}
so now bank nifty in down ABC MOVE . so now we r sitting in short side or not?
sir am i right or wrong? plz explaine in yr stock wealth blog with ELLIOTT WAVE PATTERN wahts facts ?
Mr.Ilango Sir
I HAVE NF SHORT AT 5260 TODAY. PL. GIVE ME SL. IN NF or NS ?
Thanks
Hi..Alpesh,
You are quite persistent.. :)
Always count with quantifying it. Then, you will notice that your 3rd wave is the smallest which is totally against Elliott wave Rule..which is "3rd wave can never be the smallest". It can be the second largest if not the largest but never the smallest.
That is your basic mistake.
There is a clear 3 waves in Bank Nifty. It could also be labelled as "ABC" as in a corrective scenario. So we are at a critical juncture here...whether a 5 wave is a possibility or "ABC" done and it is a counter rally. In either case, there is a case for an upmove which is what we are capturing and milking the index.
Now try relabeling..
Dear IIango - I was going through Cairn Energy 3 month chart - first wave 255 to 285, second wave 285 to 267, third wave 267 to 310, fourth wave 310 to 289 - currently in fifty wave - Am I correct and if yes what should be the price I am looking at by January end ? Thanks for your reply - Kind regards, Deepak
Thx ILANGO sir yr kind information for this
plz sir specify ew count for bank nifty in yr stock wealth blog in night. so i see where the mistake for me.
Agian thx for yr valuable suggesition
Dear Ilango Sir,
Can we go long from 5250 NS, with SL 5225, in conservative trade.
Thanks
Sanjay Kr Jaiswal
Hi, Guys..
Don't get it trap.. understand the market moves.. then make profits..
Don't think always long side.., see my posting and you needs to be on both side.. few stocks in long and few on short side..then you will be safe..
My wish you all should make some profit..don't loss your hard earned money..
By doing F&O.. very very risk..
thanks anandan.R
Dear Illango,
If we are in an ending diaognal then would it not be prudent to buy 4800 puts march expiry available at 65/-. We could surely have a five-ten bagger in our portfolio if our reading comes out on target.Or alternatively at what juncture would you advise buying puts?
Best regards
Ilango sir, Hangseng was in the red today morning but now itis positive by 217 points! any significance? (May be I'm trying to figure out a reason to hold my long position!!)
Hi..
In the EOD analysis, it was suggested to "Write Calls" due to multiple terminal possibility.
Buying far month option: I have never tried it. One should attempt it if a critical level is breached(5160) or the "Multiple possibilities" reduce and 5320-5340 reaches.
Hang seng is trading far away from its lows..It ma may be doing the counter rally.
stops hit...we reverse...right Ilango?
Confessions of a confused Mind.
------------------------------
Going short is an act I avoided all through my trading days - reasoning it as a "negative" outlook. Always bought and sold. Most of what I bought went down. But I held (holding) strong and eventually realised some profits.(I like Jesse Livermore) Of late, I have developed an infatuation for going short. I am short in some counters and NIFTY. If I look at my portfolio, I am long on 80% of my capital and short on 20% of my capital.
Funny mind wants the market to drop down further - wanting to protect 20% at the cost of 80%.
What a confusion !!!
Regards,
S Rajagopal
actually still good...longs saved by .20...lets see if it breaks...
Hi,
BUY Call : Best to BUY on Cash or Future..
for very short term sure will give profits..
MARUTI SUZUKI INDIA LTD.
IFCI LTD
STEEL AUTHORITY OF INDIA
HINDUSTAN UNILEVER LTD.
ITC LTD 1 1.0
BHARTI AIRTEL LIMITED
JINDAL STEEL & POWER LTD
INDIAN OVERSEAS BANK
Thanks
Anandan.r
Ilango saheb,
Below 5225 - your last lakshman rekha SL - is the market walking South ? Do I hold my Shorts sir ? Won't try the anti-flow stuff again.
Regards,
S Rajagopal
Yes..Rajagopal,
Hold your Shorts..5145 is the weekly channel support..Break of which, more downsides. Holding of it, some bounce from there.
Good Luck to your 20%..Prune down your 80% as & when opp.. comes.
hi rajagopal,
it is the same world over as u cn carry equities in cash market in buy position and not short position..futures are underlying positions and therefore wr used 2 hedge..rest the main difference wht i hav realized tht we indians cannot book loss but can carry huge loss on the other hand west ppl book loss..
Sir ,
If NS closes above 5225, do we still carry our S&R position? What will be our SL for the above position
Thanks Ilango. Will make conscious effort on 80%. The market gives a folded hand-kercheif and when I try to unfold and marvel its design, it pulls off my pants...throws the small fish to catch the big one?
It is a good game. As Mario Puzo said "Fools Die first".
Regards,
S Rajagopal
UK inflation data increased.. i think 5300 is capped for time beeing.
Hi,
For 20th.. Go Long in...
Unitech.. MUL,, Idia,, Hindalco,,, NTPC,, Suzlon.., IFCI, SAIL,
above all possible for going long in CASH / Future.. ( Not suggested for Options ),
If the Market open negative..watch out for the above scrips.. you can go long,,,
But not advisable to go short..
give me your feedbacks.. on my email : anandan777@gmail.com
thanks
Anandan.R
Dear Anandan thanks for your exel sheet plz let me know how to update.
Dear Ilango Sir,
Wht do u think abt uniteh?will it go below 85? Where u look the expiry? Plz put some view on this stock.
Post a Comment