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 ... -
Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor... -
If the steady FIIs inflow reflects in the prices, 5405 should be protected going ahead and market may encounter minor corrections and keep m...
89 comments:
Hi..Anuj Joshi,
I will check out your EW calculator this week end and give you a feed back. Also would provide you some completed wave patterns for "verifying" your system.
You can also take certain values from "Tony caldaro's" site where many charts with labeling is presented.
Hi viren
i gave u the TF for e.g unitech
plz provide me details hw 2 c vah val poc frm volume digger
Sir,
pl. list all the factors for conservative trade initiation. i have gone through all the material but still couldnt figure it out. Pl help.
Regards
PK
@Viren
Please send the method of calculating VAL/VAH/POC to me too. I am already on your mailing list.
Regards.
GM ALL
Good Morning!!! Ilango sir and others.
Been a silent watcher for long :)
Ilango sir, I am short @5110 NF and bought 5000PE @48. But big tower of 5000PE is the concern on the fall.I belive max 5120-5130 and then a fall till 4950 atleast.
Correct me if I am wrong.
hi..
As there are no weakness noticed since opening,
Shorts : either close it or Strict SL @ day's high.
Longs: Hold with a SL of 5095 (For the day)
This looks more like the final upmove for the wave started from 4835 on budget day., targeting 5150-5170.(As long as 5095 is held now)
Manu, Rm,
The process is automated through QT. I will send the details in the email tonight, so you can work with it over the weekend.
Thanks Viren!
@Ilango
Thanks will wait for charts and feedback
Tony caldaro?....is this the site?
http://caldaroew.spaces.live.com/
Please..check the time aspect of calculator,as I could not find "a common ground" regarding some waves like in wave 4,5 A,C
Cheers
Hi..Prosenjit,
This is indeed an "Inflection point" for the market. Indicators, though in the "OB" area, no sell is triggered and Nifty continues to be above the "Day high ema" and it keeps rising as it makes new highs.
5150 - 5182 is the strong resistance zone.
Let me know if you see any action in the 5200CE.
Even if you attempt to sell before the actual sell signal, it should be only a part of the quantity and allow for confirmatory moves to add up.
Hi Ilango sir,
One request...can you check the Hangseng day chart this weekend..and try to compare and apply the similarities to nifty chart...
I think...Hangseng broke the Head shoulder neckline...and this up move finding resistance at the same line...keeping the H & S broken target of 10 % lower intact...
I feel nifty may have similar pattern ....with lagging effect..nifty may have in the making H & S pattern in day chart...with Neckline around 4680-4700 (line drawing lows of 4539 and 4675), Left shoulder at 5182 and Head at 5309...The last right shoulder..may make high anytime around 5150-5200....and then last fall to break the neckline.
Thanks in advance
regards,
Hi Viren,
What is VAL,VAH,POC & it's execution.Can u plz mail me details regarding that.
Regards,
amirishali@gmail.com
Dear Mr.Ilango,
The NS is restricted at R2 given in your table.
We are probably in 5 wave of C now. Within 5 wave we could be at "iv" sub-wave, which coul go upto 5090. Then we may go upward in "v" wave of 5 of C Today itself upto 5150 level, and then complete C wave. Do you see any better probability ? I am planning to build heavy shrt postion between 5140-5150 today for wave 3 down.
Also note in the Yahoo 5-day intra chart, the corrections seem to be of time kind and prices aren't dropping much while the oscillators have made their trip from top to down.
http://www.nsetracker.blogspot.com/
Dear Viren,
Please include my email ID in your list - ramaswamy_narayan@yahoo.co.in. I would like to learn the basis for calculating VAH, VAL and POC. Is there any reading material available?
Here i come after a short busy stint in office...but nobody even bothered to remember me, including the 'mentor' !!
sir, i felt bad when u said that OI data is badly needed....I feel unlucky for not helping when needed. Apologies for that.
Piysuh....I see +ve divergence in f.macd of hrly charts while 9-rsi and Schs-S are ready to reverse from OB levels. I feel its a perfect playground as laid by Illango sir.
5100 CE had seen today 5 lacs with a whipsaws in IV also ( intraday ) which says its actually a blend of writing as well as buying. Support to this scenario is the accumulation of same amt of OI in 5100 PE which seems to be a perfect writing one ( clear decline in intraday IV ). 5200 CE also saw a small amt of addition of 1.3 lacs.
5000 PE added 2 lacs so far.
Total OI so far :
5000 CE 45 lacs
5100 CE 60 lacs
5200 CE 41 lacs
5000 PE 69 lacs
4800 PE 59 lacs
4900 PE 50 lacs
30 & 60 day ATM PUT IV's are very close to CALL IV's but less ( 100 bps ).
Regards
@Viren
Please send market profile study material to me as well...
Mail ID - anujjoshi.aj@gmail.com
Thanks
@rm
Hi..how are things in Doon?....Me too from Doon...i stay near FRI...presently stay in Delhi...saw your blog and photos...deodar pics remind me of my recent trip to Dhanaulti
Cheers
@Ilango sir,
You are right.Yesterday had bot 5000PE@62 and 5200CA@38.Today sold 5200CA@49 and avg 5000PE.
Future short is for 5060-5050 which I think achievable with a SL of 5130.
got a msg abt tomm markets 11 to 12-30
hi..Shikhartimby,
I will update on world makts this week end.
hi..Rajvada,
I have observed it similarly too. Or Nifty is still in the 4th wave from 4805 low also..
However, I am not aggressive to build shorts as the weekly is still trending up strongly. I also require some strong negative div. to appear before any decisive move.
@Anuj
Wow! City-mates! The weather here is just too good - the best time in the year.
Regards.
viren sir ,
send me too piyush_sharda@rediffmail.com
my id also in your list
Guys,
( Those interested in MP)
Appreciate if you can send me a quick mail on my ID- Virenras@gmail.com.
That way I can update you in the common mail I send out.
ka sir,
thanks for answering my query.
markets making new highs, whereas positive divergence is market making lows with oscillators are not . how do u see positive divergence??????
hi..Ka,
Welcome back.
OI data shows a decisiveness around 5100+ & 5000.
Markets & readers make us forget everything...
You are always fondly remembered for all your contributions..
Price diff in PE and CE v/s future and spot.
Needs to resolve. Future to go in premium, maybe??
It's moved from -3 to even. these market makers arde quick..
Hi Guys, See Monday Buy calls give.. and see today performance of Buy Indications..
Exp.. Today also up for Suzlon, Bharthi,IFCI,TTML,MLL,Rcom,DLF,RNRL..etc..
Every day up.. almost more then 10% up.. from BUY level.. still more you expect..,
Anandan.R
Dont be short in bnf. Strong support at 9030.
Anandan, looks like u missed our msg in previous post.. Pls check and reply accordingly.
Thanks..
here is copy of that.
Hi Anandan,
You are doing very wel..
But want to say few things which in my view will serve better to all.
1 Whenever u send email to us then pls mention u r reasons for buying or shorting. That is real way where we will learn rather than just following.
2 In emails, u dont give levels, u just say buy and sell. There is big problem with that. For ex Infosys u keep on saying sell and it went too high so why cant we have Shorting levels, stoploss and tgts.
Hope u understand and will guide us better than making us follow u and hear u blindly..
Sir,
I m a learner at this place
Long At 5111
Is it right sir???????
Following Stocks can consider for Short..
SAIL,Hindalco,Unitech,Tatasteel,Suzlon..
due to market sentiments positive.. the above scrips showing green..see next week..
Anandan.R
Appu,
Long here is not advisable at all.
Please take time to go thru the blog in detail.
Sunil
Hi Happy..
I think you should change you name..
It seems you are not happy..
ok.. I am again mentioning here..due to very strong market sentiments my suggested short calls not fall as per the expectations, but you can see Long side..
The SL and Profits.. For Futures.. SL can be 2% to 3%..Target Profits.. 2 to 10% depends how long you hold..
Take example all the long side suggested .. from monday to today.... Some one happy on 2%.. some one today exit with more then 10%..
that is up to you.. when you see profits needs to put trilling SL..so that your profits will be protracted.
Hope you can understand..
For Options.. SL : 50%.. and Possible profits 50% in some case more then 100%.. again depends on you holding power..
Normally if you see profits you indent to book. but when you see loss.. you await and await..
Anandan.R
Sir,
Can i sell elss today?
Can anybidy answer this question.
I have one Tax question. Purchase made on 05/03/2007 in elss. Can it be sold today 05/03/2010 (3 year limit) or monday 08/03/2010?
yes..Appu,
"Sunil" has advised you correctly. Though you are in the direction of the trend, your entry should be "on a reasonable correction" to make your trade comfortably easy.
And if the market doesn't correct, you miss an opportunity, so be it. Always wait to make a good entry especially for "TRADING" purposes.
"Investment basics" are totally different.
For this long keep a 15 point SL and hold it.
Govind,
U can sell after 31 st March 2010, as limit is for 3 Financial Year (which ends at 31/3/10) in this case.
regards,
Sunil
@ govind
u cn sell 2 dy..
Anandan,
As Ilango has appreciated, ur market temperament is really good.
Unitech Bought 75PE@1.5
Hi Friends...I'm only a friday member.Of course... a regular @ EOD reader.
Thanks & Regards,
Amirishali
Sir,
@11.00 Hrs EMAs ?
Thanks
Bala
manu,
so you are saying 3 year expires yesterday for purchase made on 05/02/2007. in that case i will place sell order.
it is funny mutual fund is now quoting at very near all time high price (jan 2008)
bought telco @805 for intraday..
thank you sunil & ilango sir for the response
Int he morning Shorted at 5109.60 and covered at at 5107. as the index was showing reluctance to go down , entered long at 5011.
Any how thanks for the advice sl for my long @5092. will it be ok sir ?????
govind even if u sell next yr the tax authorities dont check it. told by a good lawyer so chill..........
Sir,
As there was a double bottom @ 5103.5 modified my sl to 5102.5
piyush,
the fund does ***not*** allow u to sell elss before 3 years expire. so no questiom of tax man - but only trhe elss fund guy whgo will prevent selling before 3 yr is expired
Anandan
buy sell calls can give anybody
with sl and targets only few will give.
don't hang light in air without support
happy i support your view(fully support)
Anandan,
I thought u are matured guy and know how to respect. but seeing ur reply it seems i was wrong and should not waste more time in saying that pls remove me from u r mail list & thanks for all u r past emails..
nsetracker website auto refresheses every fwe seconds. if i want to change it to longer duration to reduce distraction can somebody help regarding it?
rajgopal sir..
wat was ur friday 2.30 view.?????????
Thanks Piyush for asking that.. I'm eager to know whether there is a change in his friday trading idea??
Rajgopal sir, any word?
@Piyush
Just send me a mail at rmsharma@gmail.com. I have made a simple file with 2 minute autorefresh and removed all ads. You can try that and change the autorefresh time by editing the file.
Regards.
1.00PM Close below 5100 will confirm the "Sell" based on negative divergences appeared in the "Hour" charts.
piyush,
my statement proves Lawyers are always Liars. Even a good Lawyer is still only a Liar.
Ilango sir, yr view about sell is also for conservatives i hope?
Thanks
Sir,
where I can cover my accidental short at 5053 yesterday?
Ilango,
You said
1.00PM Close below 5100 will confirm the "Sell" based on negative divergences appeared in the "Hour" charts.
Is that for conservative shorts?
GK
Nifty seem to be holding closer to the "5070" level.
Hi Guys, Now you are happy..
Hi Mr.Happy give your mail ID.. send to my mail ID.. I will remove.. ( I am just jocking on your ID and your posting you take so much in that words, ok.. I say sorry )
Yes. Paid call operators give Entry / SL / Target..
But always have excuse behind that SL hit.. and you make loss..
Every day can't mentioning Entry / SL / Targets, that is why I give excel sheet showing last close/entry price..& days HIGH/LOW/Close details.
But we don't have enough patience.
Every one wants profits to start when entry itself.. and with in 5 min..
you may be getting this in Nifty.. but when it comes to Stock specifics.. we need patience..
Thanks..
Anandan.R
Channel bottom as per Premarket Hour chart comes around 5060. A break of that will confirm this sell.(Aggressive kind). Positional should have a SL @ 5118
thanks in advance rm sirjee
@iLango Sir,
Which divergence, as per your experience, provides stronger indication of reversal?
Stochastic or RSI?
As I had observed RSI divergence in H chart earlier, however not the same in Stochastic! First time divergence in Stochastic.
Rgds.
sir even when i draw same channels u draw . there is a differece of 20-30 points at times which and vary analysis and action. i dont know how to solve this...........
like the channel u r talking abt sir, in my chart it is broken..............
Impulsive down in 5 way clearly visible from NS 5113 to 5072 on minute scale. Now a-b-c up tageting 5085/95. Then sharp down in minute scale in 3rd wave upto 5045. Should we cover shrt at 5050?
Incidentally, the channel support & "Day High ema" are @ 5061. One can book out on the shorts around here(5065-5055).
Aggressive player can hold with a SL of 5115.
Conservative Shorts, if created @ day's open area, may be kept with the same SL.
Unless follow up price action unfolds, let us presume the trend to be up.
EW possibilities:
1. 4th may end around 5060 and another high is possible.
2. "5" waves are over @ 5118 and the correction commenced with rallies inbetween.
Buying support coming in at VAH 5074.Advise to re-open shorts only below the lows of the day.
Alos 5065 was POC from yesterday and we came close to touch it.
Rajvada,
I generally see the div. in macd or rsi. Stochastics for only OB & OS. It may be working but this has been my experience.
@ Piyush sharda,
If you download the "Nifty T.A" file, you can verify why there is a difference.
5090 needs to be taken out to confirm upside possibility.
sl triggered for my long.
Again sold at 5099.20
and covered at 5071.50
:)
again looking to short 5092-95 if it reaches.
And Rajvada,
I see a 4th wave (Triangle kind) from the fall from 5118 and possibly another low..!
However, if it is an "abc", you may not get that low.
Today many momentum stocks are making H&S pattern on 5 min charts.
hi..Viren,
Your MP data has been quite useful during trading hours. Thank you.
It is a kind of "verification" by the big money(Volume) action.
hello rajgopal
market is going to come down reliable sources
syamala
Ilango ji
Good Afternoon sir.
@anand sir,
Kindly send me the latest excel sheet sir.
Ilango
u cing this 4th wave triangle on which time frame.
Thank you anand sir for your continuous selfless commitment.
Best Wishes
Ilango sir,
10L addition to 5100CA with total OI @66L. Looks like bears going to camp @5100 for few days.As you said short Sl shld be 5118-5120.
Enjoying my short :)
Ilango,
NS closed below 5100 @ 1pm
Bearishness to continue ?????
hello rajagopal
market is going to come down . got information from reliable sources
syamala
NEW POST DONE
= = = = = = = = = =
@learning EW,
If it stops around 5060, treat that as the 4th wave triangle on the way down. f not wave extending.
@ Prosenjit,
You "Sit through" well. :)
@ Amirishali,
A daily close below 5061 will be a follow up.
@syamala
this is a nice new way 2 call raja:)
wht i will say is raja paji
nikar tight lag rahi hai..
Good afternoon Ilango Sir and all blog mates
Hi! Mr.Babu (Big Babu),
There is no power morning onwards. Is there any Conservative short given by Sir?. If is there , Pl, mention with stop loss.
Thanks
Hi Guys..
Now all cracked..
see SAIL, HCLTech,TATAMotors,Wipro, Unitech,ICICIbank, Hindalco.. and also Nifty and Bank Nifty..
Hope every one made good amount of profits..
Anandan.R
Anandan,
Mail id is HAPYSINGHAL@GMAIL.COM
make sure, you dont send any emails at this id ever again even by mistake.
The calls u generate are from stochastic, rsi and macd exploration systems with assumption of flat open in markets. But the truth is mkt opens gap up and gap down. if someone follow ur advice then only they will realise what type of advice was that..
This blog doesnt want people like you who shouts RED when colour of mkt id red and GREEN when colour is green. We all can see that. Tonight u will send mails to all ( except me, as warned by me) that see all is RED..and wont utter a word for losses on u r buys..
LEAVE IT.. SOMEONE HAS SAID....." NEVER ARGUE WITH A FOOL, IT HARDLY MATTERS".. so I prefer not to argue with you anymore. Just remove my id and let us breathe...
For your Sorry, let me slap u right on u r face and then allow me to say sorry. If yes then fine I accept u r sorry else forget it.
ILANGO sir, extremely sorry as i am writing all this here on u r blog. But sir seriously keep a check on these guys. they just think what they are doing we have never passed out in our life.. This type of work we used to do it our 1st year of learning TA. ofcourse not now..
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