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 ... -
If the steady FIIs inflow reflects in the prices, 5405 should be protected going ahead and market may encounter minor corrections and keep m...
94 comments:
@ Rajagopal,
rangebound market helps in discussions and gaining insight into other worlds.
(here the other planets)
ya remembered seeing one of your comments about something on 24.03.just to remind you it will be a holiday for Ramnavami,so plan accordingly
Mr.Ilango,
Though tech table is not a indicator to initiate a trade, I understand from 12.00 pm close that we should not enter into intra day long trade at this level.. am I right?
@iLango Sir,
For divergence (anything +/-) is any time lag valid? I mean say, theoretically, a divergence happens in hourly chart after two weeks (as I see now :) ) ... can this be given importance?
Rgds.
yes..aarvee..a chart uploade showing this narrow range..
Sriganesh - Sent you the modified AFL code..
Also sent u a snapshot of the chart..P&F chart.. I dont know how to read these.. but will learn :)
Sri,
Do you think you can make a Mccellan Osc for the Nifty?What info do you require?
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@ All,
On the discussion on planets, astrology etc, I have found quite a few believers in the moon cycle? Does anoybody follow it here??
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@aarvee
sorry stuck with some work. coming back to the point, will try the chart as u said but ur logic is somewhat not appealing to me...still to explore this, will try
@raja
u r most welcome...send me the chart also
sri
@Viren
welcome to the astrological chapter of justnifty.please throw some (moon)light on the cycle u are refering to.
aarvee9 - responded (overlapped by "New Post").
@gautam,
thanks a lot...my mother devi srilalitha, will bless you so much for this.
@ viren
i am trying today, it is only exponential smoothing of 10% and 5% required and just going through it from this link
http://www.mcoscillator.com/learning_center/kb/mcclellan_oscillator/Calculating_the_McClellan_Oscillator/
reg moon cycle and moon in scorpio (the debilitation point for moon), there was a chart in icharts.forum...see
sri
Viren
Mccellan osc requires Advance decline nos.
@ Rajagopal,
I understand that u are a "palm"ist,but since the palm is not available can u comment on the nifty "foot"prints
Aarvee,
U have a good sense of humour...
Moon cycle refers to taking positions based on the Lunar cycle i.e the highs and the lows of a Nifty swing cycle are generally associated with Full Moon/ New Moon.
Take for example, Budget day which was a full moon and we had an important low. Generally they work but not a 100 % of the time.
I will elaborate...
Dear All,
I am noticing a conceit effort to drive me away from this place. I always thought it is simple buying and selling or selling and buying. Never knew there must be so many calculators, oscillators, charts and now kundalis also. Feeling like a country boy Jack sitting in a Jumbo jet cockpit - so many buttons.
@viren,
see this link
http://www.icharts.in/forum/technical-analysis-based-on-moon-postion-t955.html
sri
@raja,
ur position reminds me homealone movie
sri
nifty forming lower top and same support 5225.descending traingle. might get broken. might see downside today.
Can someone please give me the website address that gives volume data for nifty and stocks?
friends,
can anyone help?
Though tech table is not a indicator to initiate a trade, I understand from 12.00 pm close that we should not enter into intra day long trade at this level.. am I right?
aarvee9 - We have to seek Mr Wilbur Smith's help.
(Have you read "foot prints" quote ? Great one. Impressed me to be a beleiver).
sriganeshh & Viren
from ver will get advance/decline for Mccellan osc
that too real time.
hi rajaG
plz explore
http://www.incrediblecharts.com/indicators
its worth the time spent, and will get you all the info you need to complete your excellent spreadsheet.
with regards.
Ha Ha Sri. I think of the ad in which the boss sees the absentee in a football live telecast on TV !!!
Hope your Boss in not one among us in this blog !!! Must be your highest posts in a day?
I will do Mok. (feeling like the kid kicked to school).
Sri,
Thanks for the link, but it is too complicated for me. I believe in keeping my business elementary --volume and price everything else is secondary.I don't trade based on the moon cycle but mentioned it as an indicator if someone may be interested.
RajaGopal,
I echo your view.
@ Raja,
ha ha ha..u thought rajanikanth in tillumullu ..no way man..
he is sitting in client discussion at kurla and i am at narimanpoint....long distance..
highest posts...oh...it is reminder for me to cut short...ok
sri
Mok - "You are not authorized to view this page
You might not have permission to view this directory or page using the credentials you supplied" will try from another system.
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Sri - No. It is a pleasant surprise. Carry on.
Mumbai - lovely Mumbai could be heaven if my wife is there !!!(My offices are at Thane and Fort)
@Rajagopal, since you are Auto-Pilot you get to stay. Just keep doing your Tirupati - Tirumala and back trips few times a day and you are all set.
:-)
hi rajaG
plz proceed from here.
http://www.incrediblecharts.com/indicators/chandelier_exits.php
you will have all indicators at the left panel.
Most important, you get all formulae.
I noticed you were looking for it...
:)
with regards
learning EW,
I don't know of any source for that data.
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Markets rotating in value.
Thanks Mok will try.
So far some of the "highfliers" of the recent surge in Auto,Tech and Pharma are exhibiting downtrend. Metals are holding fort. Is it the sign of things to come? Profit booking in these sectors ?
ilango sir can u plz add ur comment on reliance??
any chances of correction in it??
@Rajagopal,
will like to hear the quote by mr Wilbur Smith.
Buddy ,what i have learnt in this market is that "they" are watching the same indicators etc which we are doing and they are creating their movements in realtime ,which we analyze EOD.
I find that max. profits are made in extended OB/OS positions only.
There is no one indicator that sums it all.every one has its utility in different types of markets,
moreover not one of them is perfectly predicitive,they only present probabilities.
This leaves us with only one edge that is our brain,our intution,our conviction ,our faith.
so rather than following the"red",blue" lines rely on"grey" matter,which u have in abundance and all u write and formulate comes under this which is superior to any indicator.
Viren
www.nseindia.com/content/equities/eq_markettoday.htm
click market activity report
there they gv daily EOD A/D data.
aarvee9 - "grey matter" (just took out Garnier Natural Black...).
Absolutely true. For the simple eyes, most of the top losers today are top gainers yesterday !!! I am sticking to OB/OS since it keeps a fixed basket for the day. Rest is high tech (inky pinky ponky father had a donkey(me)...)
Foot Prints quote was not from WB who was specialising in that field in African jungles to track animals.
Will send you the Foot Prints quote.
hi..Navneet,
I count the EW in conjunction with many prominent stocks & indices.
So I found that many stocks made their lows when Nifty did not in Mar.2008 @ 2539.
To me Nifty ended with an ending diagonal as its minor vth wave.
We differ at the start. However, the direction remains mostly similar to yours. One of us will be proved wrong after a long time by which time we will surely be occupied with newer challenges.
As long as we have an open mind to this dynamic markets, we will be able to accept the market as it unfolds in its mysterious ways.
Good work, you are doing. Keep it up.
Just to remaind - anyone following "SEINVEST" -it gives good return on alternate days. Does what "Thinksoft" was doing. Looks like a pure "Operated" counter. Just watch and enter in small quantity at EOD - if BTST is permitted by your broker.(Not today EOD).
@learningEW,
i need adv dec data for this march...if u have readily, kindly paste it here...
thanks
sri
Footprints in the Sand
One night I dreamed I was walking along the beach with the Lord.
Many scenes from my life flashed across the sky.
In each scene I noticed footprints in the sand.
Sometimes there were two sets of footprints,
other times there were one set of footprints.
This bothered me because I noticed
that during the low periods of my life,
when I was suffering from
anguish, sorrow or defeat,
I could see only one set of footprints.
So I said to the Lord,
"You promised me Lord,
that if I followed you,
you would walk with me always.
But I have noticed that during
the most trying periods of my life
there have only been one
set of footprints in the sand.
Why, when I needed you most,
you have not been there for me?"
The Lord replied,
"The times when you have
seen only one set of footprints in the sand,
is when I carried you."
Mary Stevenson
@raja,
i need ur help in refining the excel chart...can i send u the oscillator data with chart prepared...?
sri
sriganeshh
no i dont hv that data.i just got that link @ NSE India site.
ru trying to mk that Mccleean osc.
if yes pls let me know as i als hv been tring without much success.
@ mok,
That's Great post mok.
hi sri
if you hav done the spreadsheet & chart, plz send it to RajaG.
hi RajaG,
when you receive it plz forward a copy to me.
I wil try to brush it up and send back.
with regards
thanks RV9
i think this is what rajaG meant as Footprint
and it happens to be my favourite too
Mok - Thank you for the foot prints. HE is there by whatever name we call HIM or even when we don't. The unseen hand that leads the blind us, the unseen shoulders that carry the lame us.(blind and lame in his knowledge)
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Sri, My excel skills are just ok - hence please send it concurrently (got bank audit?) to both me and Mok.
Rajgopal Sir,
Is there any chance reliance melt
1.30 to 2.00 Euro tunes. 2-2.30 recovery and 2.30 +move - my understanding of Thursday.
(But sell calls are originating for 5190 target)
@mok,
i dont have ur id...anyway i have sent it to rajagopal....u can mail me ur comments after going through the sheet..
@raja
go through the sheet...let me know ur comments before u sending to ilango sir...
sri
hi..Mok,
He is still carrying me..I wonder whether I will ever be able to see my small prints..
A nice one to tell the "non-believers"..
@Navneet Singhal,
Please download my file from the link given at the top right side of the blog: "Nifty T.A" and you will find the charts.
yes sir,
like what rajaG said, HE being called by many aliases for all.
SmallTrader (very afraid to give views).
Ok. RIL in bull zone with -ve divergence. Neither OB or OS.(CAIRN moved fantastic d.b.y'day from such position). Standing still on very good results expectation and general market apathy to go LONG. My view is will be a flier if market moves up or may go upto 1064 today with negative swing.
@mok
After EOD when i track the "footprints" of the markets in find that when i am in profits, there are only one set ,that of the LORD,he carries me with the FLOW/TREND and when my books show loss they also show another set ,mine,that have crossed the first ones.
hi rajaG
you can forward the file to me.
hi sri
i wil collect it from rajaG & reflect back.
RV9,
this blog is full of simple humble good hearts.
and the same goes for the life too.its better that he carries us through.he has given us the freewill only to tread his path,when we try to do our own ,go against the flow or do what we think is right we get the results that show that the footprints have crossed paths.
sri
plz check the following. Seems to be simpler...
"What Does McClellan Oscillator Mean?
A market breadth indicator that is based on the difference between the number of advancing and declining issues on the NYSE. It is primarily used for short and intermediate term trading.
To calculate subtract a 39 day EMA (of advancing issues - declining issues) from a 19 day EMA (of advancing issues - declining issues).
Simplified, it looks as follows: (19 Day EMA of Advances - Declines) - (39 Day EMA of Advances - Declines) "
Ilango Sir,
A small doubt, why you haven't given short call on Unitech with sl @75.75? for conservative trade.
Price rejected again at VAL.
Can the seller overcome 5220 for 5180?
viren
volumedigger shows max value 5230
and Sir think of us ...
we are not yet out of your Shoulder ...
Rgds.
Mok,
5235 is the developing POC
aarvee9 - just reverse the thought process. I tell God "God this is your trade" when the trade is in loss. He doesn't like loosing.
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Mok,Ilango - forwarded the mail from Sri. Nice one, educating myself. ("The BEGGER(me) has the best plate of assorted Food").
viren
shai blog compared graph nifty vs nymo was reasonably correlated. Can you too try on our A/D vs Nifty, and put up a post?
I found this simpler interpretation of formula:
"What Does McClellan Oscillator Mean?
A market breadth indicator that is based on the difference between the number of advancing and declining issues on the NYSE. It is primarily used for short and intermediate term trading.
To calculate subtract a 39 day EMA (of advancing issues - declining issues) from a 19 day EMA (of advancing issues - declining issues).
Simplified, it looks as follows: (19 Day EMA of Advances - Declines) - (39 Day EMA of Advances - Declines) "
Makes it simpler to calc.
@Rajagopal
Ya I tried this ,my profits vanished !!! ,He said "My Trade,My Profits "
"1.30 to 2.00 Euro tunes. 2-2.30 recovery and 2.30 +move - my understanding of Thursday."
So far so good.
beware guys
a grand gala 2.30 pm rally is waiting
what say ?
thanks
rparekh r
Hi RV9 - but you are supposed to give him only LOSS trades ?
Mok,
there are so many methods to calculate ,
19 DEma and 39 DEma is given by 4 authors of international encyclopedia of TA.
whereas Curtis Arnold gives this as 20 vs 40..i was confused
I took the official version of exponential smoothening as given in the official site.. if you want this 39 vs 19 that can also be done
sri
Meanwhile--
Be care ful there is clear positive diversions in all indicaors,MACD,RSI,&STOCHS.markets may reverse for the day from here.check it out on a 5D chart for clarity
Mok,
I cannot calc formulas or indicators since kg1.My job is to only interpret..
You can send a mail to Shai at vtrender@gmail.com.
dear i lango sir
this forthcoming probable rally upto 5285-90 is an opportunity for sell on rise
please comment and elaborate
thanks
rparekhr
a slight change in my question i lango sir
this forthcoming probable rally upto 5285-95 is a sure shot opportunity to sell on rise on positional basis for at least a target of 5100-5050 since expiry days are around
please comment and elaborate
thanks
rparekhr
@raja,
it seems your "thursday thumb rule" will oblige today..
rajgopal sir,
ob/os and divergence are countertrend trades. something needs to be done to trade with the trend also ( ur sitting tight) .though a trader can make enuf just by divergence trades also.
trend trades like sirs maze of ema and sma.
just a thought so shared with u.
The Temple Monkey:
A monkey was living in a temple premises. It had the bad habit of showing middle finger to whom ever looked at it.
All efforts to catch it proved futile. Finally the intelligent temple priest thought of an idea. He took two mirrors,
two combs and two sharp knives and left one each at the bottom of the tree. The monkey came down and picked all up.
The priest looked into his mirror. The monkey copied him. The priest combed his hair. Immediately the monkey took
its comb and started combing. Finally, the priest took out the knive and acted as though he is cutting his own
throat. The monkey looked at him and...
(what else ? Showed him the finger) I the priest. and Market the Monkey. My 2.30 rule for the day !!!
Piyush - please send me a mail in detail. You are at the front row in the class.
rajgopal sir
kuch sampatt icch nahi baithi apun ko to
that what did u wanna say withi above example
May be..if priest would not have acted, monkey could have cut its throat..so if we cut our long positions now, market may oblige ( it will shoot up) :)
Rochak - apna understanding mandi samajthat nahin ? ungli dikatha hai.
NO profit booking in CALLS and O.I.added in 5200 PUT(approx 10lac),markets to go up,may be we will not see 5200 also in this series.
Ilango sir,
Refusal to go +ve on 2.30 Thursday (may be the week's last buying bout ) is a sign of emerging -ve'ness. RV9 has different opinion (+ve indicators). Whom are you voting for?
Hi RajaG, Sri,
I am sending the file back to you.
I have attached Nifty Closing value, and made a second graph on sheet2
I have moved the original graph to a separate chart page.
I find Dates of Sri data & Nifty data differ from 2009 aug 24. Meaning some data is missing or duplicating.
And, there is no correlation between Nifty50 & AD. But then the Adv/Dec should be seen on Nifty500, not on Nifty50, right ?
with regards.
@Rajagopal
I want to bet on this series ending above 5300 and if i fine tune my guess,it will be above 5330.what say man?
My God RV9 !!!
You are warning me against Shorts-clear and sound.
RV9 - read your OI data only now. You could be spot on.
===
Mok - will await Sri to c&r.
@Rajagopal-
Friday +ve(as their will again be short covering since no room given for that neither any profit booking has happened.
Mon/Tues -ve(for the fools who go for the bet on 5300 in options on higher premiums)
Thrus +ve(to close above 5300)
@Rajagopal,
The market is having a big heart,it allows fools like me to say bizzare things,and make them happens sometimes.so that each can have his bizzare opinion and people look at awe to them
Two posts are on simultaneously...
One comment has skipped accidentally about new post..
Ashwani gujral asked his clients to buy canara bank... that means we need to short...
RV9 - You are speaking in my language. Friday 2.30 -ve - but trend broke F'day before budget and continued on budget and next. May be the broken trend ended with the hat trick. If so then Friday must see "SELL" at 2.30. Then if Ms Dowey takes a deep dip on Friday will the water not smear on my drunkard ?
All loud thinking. I feel your hand is secured.
well rajgopal sir, just few thoughts not enuf form and shape to mail . but will mail u. wrote a similar post yesterday evening.
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this blog is a classroom and class 1-10 sit here. ( thats a problem but i dont know what to do) like in a classroom ur marks count nothing else matters much. here what wud count u can well understand.everything written is not good.
my heart knows i am in class 1 ( marks and knowledge both). frontbenchers also sleep in class and dont get caught also.
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i need to do much more work to write constructively abt ur table. hopefully in next few days i'll do it.
RV9, rajaG
2 contrarian traders, but 2 great traders ...
nice to see the pun + stuff in your discussions today :)
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