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 ...
23 comments:
Infosys management saying client budgets have not yet been frozen is big negative.
Ilango,
Does the latest readings suggest upward move?
Regarding role reversal in Bank Index - will it be from 8900 onwards or will go down further to 8800 and recover from here.
Please advise.
Regards,
S Rajagopal
thnks indian ,
but jst go to dow index and c hw IT co. has performed frn march onwards comparedto other index..wht i ws suggesting tht em nations IT co. are more in radar of fii..e.g one of my frnd wrks in a hedge fund in UK..in thr portfolio only one indian co. thy wr investing..that is sasken comm..i also bought when he told me @ 48..still holding..that fund has more exposure to chinese and taiwanese IT co's..sorry sir jst fr sharing nothing technical
Hi ilango ji,
if time could you please post your view on hindalco.
Thanks
Hi..Rajagopal,
It will be after one more move down as envisaged for Nifty.
Hi..Renu,
Hindalco correction is in the range upto 165 - 160. Holding that level, it can continue move higher as no negative divergences are seen.
Its major resistance will be 190-200+.
I do not monitor its hourly. And as for EW, it has been having running corrections and moving higher and in its last upmove (C of "B") from the Oct.08 lows.
sir, ur lvls 2 shrt nifty 5230-35 is spot or fut.
manu, sir always gives spot lvls unless specified
ILLANGO:
"Yes. One can sell @ 5230-5235 with a SL of 5250."
Is this NIFTY SPOT or NIFTY FUTURES >
is 3.00 pm close is 5225 or 5227 ???
Ilango sir, i m confused, i hope conservatives still has 5280 as SL?
If we close around these levels (NF @5234) then I am sure all shorties will cover tomorrow after a 50 point gap open. Happened last monday when it gapped up from these levels to 5280 or so. So I am going to close my shorts intraday itself.
If this market is not going to go down after HangSeng is down big time, then it surely will gap up just to kill the bears overnight.
Ilango Sir,
Can we carry the shorts at 5135 fo tomorrow?
sorry 5235
sir, cn i shrt tata steel 642 fut.
Sir,
If market colses above daily 5 ema i.e.5235 than shall we carry shorts?
If Nifty closes above 5205(Day Low ema), a teperory halt to down. And If it closes above 5235, exit shorts as I find most of you do not want to play by the levels already mentioned.
Hi..Bizagra,
If you have traded your overnight shorts from down to up, you need not worry to hold it.
Holding of 5180 was a second opportunity to book intra to reshort higher @ 5240+ as advised in the morning.
We should hold these levels handy to trade fearlessly with keyed in SL.
Overnight holding is the individual's choice. You always get opportunities.
hi nifty, NF from 5180 to 5220 then from 5220 to 5176, then 5176 to 5248. This kind of 3 swings happen in a single day, do u think you will get a fourth? If you have taken a short at 5235, it cannot be for intraday, you should hold. Ilango sir said short at 5235 spot, I have shorted at 5245NF. I will carry it home.
sir , shrt tisco?
Dear IIango - i am not being fare to you so my apologies upfront - Can you guide me to Cairn's resistance and support levels please - according to me support is at 285 and resistance is at 308 - please help regards Togu
hi saravana,
U r right..I think nifty is moving well in the channel.. so, i am also carrying my short created at 5230 (nifty spot) with tight SL of 5250..
Thanks to Ilango sir also as i booked my short created yesterday @5265 at 5190 and today reshorted at 5230.
regards,
dare
Dear Ilango,
posting again the nifty hourly chart link for benefit for all the viewers.
now it includes 5 hour ema and 5 hour low and high averages.
http://www.quote.com/global/futures/chart.action?s=NIFTY+F0-NSF&chartUi.period=V&chartUi.bardensity=LOW&chartUi.studies=EMA(5%2C5%2C5)%3BHLMA(5%2C5)%3BMACD(12%2C26%2C9)%3BRSI(14)%3BSTO(14%2C3)%3BVOI(1%2C1)%3B&chartUi.bartype=CANDLE&chartUi.size=650x450&chartUi.minutes=60
with regards.
-Dr.Jignesh Shah
Hi..Doctor,
Thank you for all your contributions. You have always been quite meticulous in your works.
Best regards.
ilango
Post a Comment