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 ...
71 comments:
hi ilango and readers
GM,i have started global market update from this week,will cover US ,UK, Japanese and Chinese markets.these will cover short term swing moves just as in nifty.might be a sentiment indicator for indian traders
http://financeandtradingmadeeasy.blogspot.com/2010/01/market-calls-updates.html
Thanks
Anuj - That would be nice. Your site is of good standard. Offers rich learning opportunity. Thank you very much for your contribution.
Regards,
S Rajagopal
@Rajagopal
Thanks for your feedback
I look to add currency pairs as well in coming week as week...lets see
hello anuj joshi;
it would be better , if you write up some post on your trading methodology.will be of great help
GM Illango,
What,s the target for intra day long suggested by you at 10.17 am and what should be the SL.
Thanks
"Mr. Ilango and Mr Rajnish,
I have now fine-tuned "
Dear Sunder - great effort which will benefit us all. Kindly mail to all of us who were marked in Anandan's original mail. Certainly you would have made the user manual also. My mail id is lvaadhoc@gmail.com.
Thanks and regards,
S Rajagopal
hi..manoj,
That was a small trade for 25-35 points with day's low as SL.
See the tech table. If it manages to close above 5002 and stay above 4990, it can attempt 5024(Hour Ema, also the Pivot) and then possibly the Hour High ema @ 5040.
Ilango - got the hint.
Will do accordingly.
Regards,
S Rajagopal
Illango,
Thanks
Dear Ilango,
Your views on Tata Steel considering that the results on the 28th ?
Also, technically, what would be the stop loss to go long ?
hi..Kapil,
Tata steel may rally for a day before this settlement but should end at a lowest point by Thursday, last day of settlement. I would not advise to go long till this settlement is out.
However, if you get near 595-600..with a SL of 591.
Ideal level to play a long in the coming days would be in the region of 4750-4850. Will fine tune as the prices unfold.
Hi sundar,
Thanks for your work.
It will helpfull who are using Anand sir file.
Please send to me:
dhana.share@gmail.com
Thanks in advance.
Dhana....
Illango sir.....am short at 5035 on friday ( means, bought 4900 PE at 19 ) with a target in mind of 4940. Since nifty is holding 5000 thus far, whats your view for this series ?
Where would it end probably ? Your expert suggestion here plz.
regards
A move past 5010 will lead to decent bounce..as this would confirm a break-out of a channelled correction from Friday's 5077 to today's low of 4983.
So watch this 5010.
Ilango sir,
I had inquired about the software that u use to prepare ur charts. Please reply
thank you sir. i made a mistake by not booking out at 4983 when it was at 24. Proving costly !
sir gm,
wht r d lvls of unitech as i m long n fut 2dy @ 77-78..as strong support as per ur lvls ealier thn week..plz gv m sl and trgt too.
hi..ka,
Though the view is closing at the lower range which is likely to be 4900-4950, your 4900PE will lose its time value soon.
Towards the end of the series, play only in in the money and the entry should be fine tuned to benefit the most.
So better take your money with a small loss unless you are trying a lottery kind of luck.
hi..Prashant,
I have my charts in a self-developed excel file. I can share it if you give me your email id.
Hello PPl ,
Seems a little quite morning here , can any one post levels on hindalco , looks like a good buy on rumor sell on news ( results today ).
Ilango sir ,
Please add me in your emailing list of excel file . MY email id is Naveenkumar1977@gmail.com , have even sent you a mail on your gmail id . thanks in advance.
dear ilango sir..
could u plz send ur excel sheet to me also wid the users manual plz.my mailing id is vickyjiii@gmail.com
kind regards...
vicky....
Addition of intraday 3000000 O.I.up to 12.35 p.m.in Jan F.Nifty where just 2 trading days to go for expiry.Very interesting.
sure sir. thanks a lot for your suggestion. actually i was looking to close the position at 49765-70 if its not holding but it bounced from 4980......
regards
Dear Ilango Sir,
Regarding the Channel break-out 5010 u have mentioned should it be drawn in 5-min or Hourly chart.
sir..on a off note from daily analysis...what do you think of opinions in some of the blogs like those of mole,xtrends,slope calling for snp levels of 300-400 not now..but maybe in 2-3 years..
i am asking since these people are quite knowledgeable and have been very bearish all along ...are such levels even possible..snp 300 would be some destruction...
Hii Ilango sir, I m a conservative who booked shorts on friday. Sud i still wait for 5100-5125 level to short again or there is any change in levels for conservatives? Plz clear.
Exact 3800000 O.I. has been added up to 1 p.m.and Nifty future jan series intraday movement is 38 points.And nifty is reluctant to trade below 5000.
Bizagra,
I read sir's message like this, i was holding short @5272 and exited at 5000 and shorted @5070 and stop lose is @5145.
Dear Ilango,
It will be nice to hear your views on CNXIT and the Bank Nifty index.
hi..saif,
Every one errs. So do your own checking to take a decision. Mole, xtrends have been calling a top for nearly 2 months and missed a lot. They are trading with economic fundamentals which is not right. I would rate "Tony Caldero" and Piazzi of "Market time" as decent and matured analysts.
Tony's view that we could be in a larger "B" wave meaning more upsides after some correction is a sensible one. I have similarl views which was posted more than 2-3 months ago during Deepavali time with a monthly chart.
Look for a support near 200Dma which has not been tested since this 1 year rise. I will post that monthly chart again with a link to the older one.
In the end, it comes down to how we understand the direction of the market and play those directions.
Hii Babu, thanks for reply. I went short @5140 with sirs analysis for conservatives. Booked @5000, and waiting for 5100 to short again . I never went short again @ hour high ema @5070 on friday as it was for aggressive traders.
hi..nikin,
I do not follow IT index but IT stocks have topped out around their results season. They are consolidating - meaning, sell on rallies.
Bank Nifty - sbi seems to be holding well with some positive divergences. That is a buy on dips.If 8680-8700 holds, may attempt 8800.
hi..Mynac,
How's the 5000PE and 5100CE. And your analysis of their change in OI.
sir,
unitech plz
Ilango, we are well above 5010..next is what?
sir...on a off note from daily analysis...
elliot wave expert robert prtcher says dow levels something below 1000 in coming 2-3 years.he says 3 rd wave has been started and it will take dow below some 1000 levels.wht r ur views sir??
kind regards....
vicky....
Ilango sir,
Please send me the email of excel file of your levels, and any views you hold on hindalco ??
Dear Ilango,
5000 PE has shed 125000 O.I.and 5100 CE has added 125000 O.I. and just read your latest comment so it may go down but only you know it better.
Sir,
My mail id is prashant1194@gmail.com
please send me the excel file.
How is the file updated automatically?
Hi Ilango,
I have finished exploring all the ads (no of times)... Can you please add some more?? :)
Also, shall I wait for 5100+ to short (I am with no open positions since Friday)
Pls suggest, as I am new to this world...
hi..Manu,
I do not monitor stocks during the day. Tata Steel is one of the 8 stocks that I update for "Stockwealth" blog.
hi..Rishi,
If it manages to stay above 5000 and then cross the day's pivot @ 5023, 5040-5060 is possible.
The big fall has happened to 4955 on Friday. Nifty seems to be doing time correction without much of a price recovery.
Dear Ilango,
Twice 5110 is breached but unable to sustain.
Will it be lucky next time ?
---------
Reg : Expert opinions.
In a +ve market it is a safe thing to say that correction/downside of upto --% is possible in -- period of time. All our experts on public view are like our road side astrologers/palmists only. "After 1 year 7 months and 13 days ....." predictions.
Where will you catch him after 1.7.13?
Best course is depend on the TA studies of a man who will stand by it, even if by quirk fate markets defeats his understanding.
Long live Ilango.
Regards,
S Rajagopal
hi..Vicky,
"Robert Prechter" is next only to "R.N.Elliott" himself. His depth of knowledge and the resources at his disposal & a huge team of experts working under him is simply not comparable.
I cannot trade today or this week or this month based on such a view. That is quite beneficial for Investors.
Nevertheless, I am of the opinion that anyone who applies himself to price analysis of all time frame with an objective mind can excel in this field, provided he should not consult other's notes. Then, his view becomes distorted, doubts creep in..then only chaos..
I have provided my analysis earlier and I standby that till the price moves changes that view.
We really do not know "How big a grave these Americans have dug for themselves that it may drag the rest of the weaker world"..
hi..Chankya,
5060 to 5080 may be a decent level to sell between today and Wednesday morning. I will keep updating.
As my critic does, if you do not get your levels, do nothing. Wait for those good levels, then holding easier and the SL is also easier to stomach.
thnx sir/ @ rajagopal,
i only wrk wth unitech and hedge it with nifty..
doing frm last 2 years ..doing gud..
after visiting this blog..it is a different exp.
very gud brains here (e.g rajagopal- hope laxmi likes ths)
on lighter side..i will not let nifty go TM(south) and pull back 2 punjab(north)
nyways plz give me unitech lvls
regads
Manu - Sathsri Akal.
(Rajagopal is one of the original 3 idiots-no brain).
Like you I am also a late-convert to TA based trading. Once Shorts are covered will courier NIFTY north - Lakshmi will like it better. 80% of my market-cap is in longs only.
I was very fond of Unitech - once found myself holding a huge chunk that made my broker comment "must be next only to the promotors". Good to play for intra-day. But being a high beta stock the risk of c/f is high. Instead as Ilango feels something like TISCO can be a good indicator.
Happy Trading. Nifty now is searching for a North Indian Address...
Regards,
S Rajagopal
thanks a lot for ur kind reply sir....
kind regards....
vicky....
hi i am new here first of all hello to every one
Thnx Ilango for your advise!
i needhelp on bharti i am holding 330 ca jan should i hold it or should i book
hi..Manu,
I will create a file of Unitech and send to you but it will have just Day & week as I do not keep its hour data.
If you start maintaining its hour data from now on, you may get the hourly technicals working in two weeks time.
As you play only in Unitech along with Nifty, this should satisfy your requirement.
Illango,
After the Dubai meltdown you had advocated a s &r above the hourly high ema of 5035. But know you are advising a sell above the hourly high ema around 5060. How are we to understand this?
hi..gaurav,
I do not track Bharti. Generally Telecom stocks are having a rally post huge hammering earlier ahead of the 3G auction. That is the best I can do.
I am "JUST NIFTY"..
And welcome to the family of "serious minded & playful mates"..
thnx sir,
plz do tell me hw 2 get hour data of unitech..i do not have india bulls account..plz guide..
my mail id manunidhi21@gmail.com
jst fr information:
thr is one mmb bmsg boarder named Kadiyali..intially his lvls wr good ..thn he made his blog paid and i ws a member of the option blog..
tremendous failure..i hv nt seen such a big big bear in my life..
but later i tried to do oppsosite of his calls and made money(by fluke)
after visiting this blog..it ws expereincing ur OWN SELF..wht markets think and nt wht i think..
now i even dont c whr is $, vol, many things..
jst c d screen
thnx sir,thnx again
regards
hi..Manoj,
When you combine the week, day & Hour, you need to sell on every rises as the higher time Technicals are seriously down. Till we see any short term bottoming or +ve div, this is the best that can be done.
Manu
on that blog most of the people did what kalidayli did.My advise don't get into that trap.
Rather learn the way we all learning here from Ilango.
Cheers
Akhil
Illango,
Thanks. That means that just following the Tech Table is not enough. We also have to study the charts for finding +ve div.
Ilango - So still it is SHORTS trade ?
1. I am holding my Jan Shorts.
2. Initiated Long and closed in Mar for Intra.
3. Initiated fresh Short in Feb for Intra.
Is it an acceptable practice ? Will I have the risk of getting confused, particularly with my ant sized brain?
4. Thanks for your views on TISCO - holding my short position.
(I meant 5010 not 5110 in my earlier query).
Regards,
S Rajagopal
Sir,
I haven't received the excel file at my id
prashant1194@gmail.com
How does one auto-feed the data into the file?
please respond sir
Dear Ilango,
Thank you for your updates on Tata Steel.
How about selling 4900 PUT with 2 days to go, still 11 bucks premium or it is too risky ?
Best regards
HAPPY REPUBLIC DAY TO ALL!!!! MERA BHARAT MAHAN!!!!
Hi, Guys, Close your short postions, and Sale your any Nifty Put's...
Market will Gap Up open on Wed.. atleast 100 points will move forward.. Buy.. Nifty 5000 Calls, or Buy Nifty Futures..
Enjoy Profits and give me your feedback..
Anandan.R : anandan777@hotmail.com
hello Anandan;
on what basis you are saying gap up tommorrow.is there any news or any thing else. please clear it.
Dear All
31 States,
1618 Languages,
6400 Castes,
6 Religion,
1 Country, Be proud to be an INDIAN.
ADVANCE HAPPY REPUBLIC DAY
Thanks
Sanjay Kr Jaiswal
@ anandan
hw u cn say
dw fut advances will be covered on 26th as a holiday
Hi Illango,
I am still holding nifty long bought at 5106....thinking of closing the long today...is it ok or waiting till wednesday may be ok?
sounds like a desperate question but looking for an exit with minimum loss...
My God !!! Anandan. Must have expected something like this since your silence since morning. What is the basis for your understanding ? You may lead lambs to slaughter, if not backed with sound TA.
Kindly explain - Tech or Gut feeling?
Regards,
S Rajagopal
Hi, Guys, Nifty Over sold, & Await and see on Wed..Short covering will push up the markets..
US futures UP and tomorrow all ASIA will be Up and Wed.. will be for our markets. Take care.. Bye.. Enjoy one more holiday.. anandan.R
Bye Ilango. Bye All.
Happy Republic Day !!!
We miss you Jyoti Dada.
Long live Mother India.
Indiya naadu en veedu
Indian enbathu en peru
Ella makkalum en uravu
Ella mozhigalum en mozhiyae
Ragupathi Ragava Rajaram...
Regards,
S Rajagopal
Sir,
How does one trace -ve & positive divergence?
Also which technical indicator is used for telling us an overbought or oversold position?
HI FREINDS
HAPPY REPUBLIC DAY TO ALL.
Post a Comment