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...
66 comments:
Ilango sir,
You have answered my unasked question. i was about to ask you if the c wave of a-b-c in daily charts has ended. One more question is the top 5309 considered to be an extension of the 3 wave high at 5182 or is it to be named as truncated 5th wave?
Dear Avinash,
1. I have saved the N50 scripts in my trading software (trade tiger).
2. EOD or anytime I can generate the output into xls file.
3. Rest is simple vlook up and macros.
4. This gives the output.
What it avoids is maintaining individual worksheet for each script and keying in the values manually.
I have a query about tech table updation. i was the post in which ilango sir mentioned abt updation. when I open the file the only thing that comes to my mind is I have to key in hourly values and daily values at the end of each hour.
Sir has written--
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1.Charts are set for 400 weeks, 400 days & 400 hours. Every week or a month, adjust the data manually . For eg: If you need to add 40 days/hours, copy only from 43rd row "b,c,d,e-columns cells" and copy up to the last day/hour & more 50 cells & paste them on the 3rd row. Now clear the formulas in the last 40 rows.(Do not delete in the "Data" sheets anything).
Once you try to implement it, it just takes a minute of your week end time.
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Not very good at xl so not abl to understand it much.
How can we update it. Is it keying in hourly values. I feel it is different that .
Sorry friends it deviates from nifty but pls help……….
5k put is nearing 1crore OI!!!...thats got be some record..of course some would be intraday positions and will get cleaned up EOD..still the accumulation is huge
Trendline 5105 is still holding & giving supports to the falls.(Thrice so far)
@saif
interpretation of the incident?? please!!!!
hi..Saif,
Presently so much action has been happening @ 5100. How is the OI @ 5100 strike price.
But the trend line would be rising every hour?
Hi Guys..
Down side market more possible then up side..
Reasons for that from my point of view..
( I may be wrong also..)…
1. DII continuously on seal side from Budget day
2. Inflation data may give big jerk.
3. Why govt fix FPO price 300 to 350 so wide..for NMDC
( because Govt.. itself not sure for success of this FPO..)
4. So call women’s Bill still hanging on the parliament, Some of the opposition getting stronger for Pulling down the Govt….
5. RBI / Banks thinking may increase the interest rate in near term
6. New IPO going on sucking money from market.. ( Promoters mis-using the IPO funds ).
7. Turn over on 8th not even crossed avg. daily trade..
So call is yours.. Anandan.R
Ilango
thanks.
sir 5100 calls have near74L(6% change) and puts have near 49L(13 % change)...we might just be forming base for higher levels..
Ilango sir,
Repost :One more question is the top 5309 considered to be an extension of the 3 wave high at 5182 or is it to be named as truncated 5th wave.
If Nifty closes below the dayema 5104 can we consider the shorts taken as conservative shorts?
manojag sir,
pls give ur e mail id had a query abt ur post. query not relevant to nifty so not asking here
Saif,
OI data is actually [pointing out hat we have no business remaining above 5100.Notice the CE base at 5100, also the CE base at 5200 is higher than the corresponding PE.
9.3 million at 5100n PE shows that dips to that zone will be bought.
Avinash - what is presented is the top sheet. It takes data/status from the base files which contain the formulae which in turn takes the values from the software output xls.
Piyush - Benevolent Tuesday not aggrevating the fall? Same level at 2.30 on Wednewsday may double the fall.
(raider-last Wednesday was an aberration).
manojag@yahoo.com
"Close below High ema" indicates first weakness. It should be followed by a close below "the close ema".
@Viren agreed ...btw 9.3 million is at 5k PE..its a gridlock for sure..and writers will be loving it
Yes Saif,
I stand corrected.
@all
Hi sorry didnt come on time today,was chatting with a friend...and reading so many comment for last half an hour
not even 20 point on nifty today?...seems like every body on this earth is following Rajagopal's 12 points scalp system!!!
he he
@Manu bhai
sorry for late reply...your favorite unitech turned red yesterday as per my blog levels...so holding red colored chaddis?....or green Pants?...or well dressed with bright red chaddi and very light green pants(partially hegde position)
Cheers
BN yet again bounced off 9060. Back to 9140 now.
right rajgopal sir off 5105.........
@ Satish,
I think Ilango may be refereing to the intraday a-b-c Upmoove from 5098 to 5125 is over. This was minor wave 2 Corrective up for the wave 1 down from 5147 to 5098.
This will get further confirmation NS sustainnig below 5110.
The daily A-B-C completion will get confirmation below 5076 and then 5020.
Please correct me Ilango if my understanding is wrong.
Avinash - satisfied. If you want will give u all the file. Afterall the intelligence rights are Ilango's.
Problem would be you must have the same base data (labels) as I do.
Please Demand if you want any more data that will add value.
Even though sellers have not pressed home the advantage, I feel very comfortable carrying my Nifty shorts home.
For the first time since budget day, we have traded below VAL, most of the day, infact all of it.
Ilango, can we carry home the shorts? and when do we enter in a conservative short?
Still holding nifty short at 5110 hoping for a last half an hour crash.
Viren, what is VAL? pl guide.
The only problem here is that everyone is expecting a crash...never works that way :(
For those watching US action :
the value areas are:
ES : 1139.25- 1138.25- 1136.75.
Hi Anuj,
As an eternal opportunist I have looked elsewhere for my 12p (BN offered it for the past 5 sessions).
Not even...I take it as the first appearance of my favourite hero - please welcome the "Drunkard" - after all such indecisive spell he took the escalator down !!! Tommorrow is Wednesday - more fuel.
Will thechinicals prove the wisdom wrong? Remember you know the lawyer and I the Judge.
@Rishi
i think bellow 5102-- carrying short, otherwise your wish :)
Rishi,
A crash is 500 points in a day.
We are waiting for a pullback, because of the 300 point run from 4840 levels in 6 days.
@ joshi pa ji..
both shorts and pants with belt of illango sir and buckle of viren sir :)
sara kuch manga hua hai..
Manu,
Your friend Unitech played his game and came back down.
Thanks Viren...im with you guys on it..but just stating that usually when everyone expects some one, it just gets delayed...now lets hope it happens in our expected time frame :)
viren sir, can i carry home my short taken at 5110?
rajgopal sir cud exit my longs at breakeven. but give my words a thought-
if u have a concept then if it is presented with illustrations people gain from it as they understand it.just like writing a book so u need to seriously consider penning down ur observations with detailed illustrations. so people can practice it read it and reread it. else they will all go with u. sorry if it sounds harsh
Saravana,
I'm carrying mine.
I did an analysis yesterday at Vtrender.blogspot.com, about my reasons for doing this.
Manu - abhi illangoji kae pass buckle our Viren kae pass belt bacha hai. Unka vardhi nikalkae apna bacha rahae ho !!!
Vah beta vah - is it the beta trading system?
@manu bhai
Once a gentleman always a gentleman?
You are always well dressed?
Wearing chaddis over pants? (like superman)
I mean to say whats your bias? chaddis over pants mean short bias...and vice versa.
I concur Rishi.
That's why we didn't short at 5142 yesterday, but were waiting for the day action of today to justify the short.
Viren sir, thanks for the guidance. I will visit vtrender blog.
@ Rishi,
A day close below 5104(High ema), May initiate "Sell on rises.
If we sell here, the risk we need to take is 50 points.
Reliance making new lows.
@ raja :)
@ joshi pa ji
pants are in green but if closes which seems like below 5 ema thn will square..
will wait fr sir call on it as gnrly sir c stocks eod..
@ viren
squared half @ 77.1 longs
@rajgopal
Banknifty is great...better than nifty ...12 points in bank nifty....you can easily double that to 24 ...using same system...
what so special about 12?...in bank nifty at least aim for 13 points...13 is fibonacci number.. at least you will make technical analysts happy...nice way to sound pseudo technical analyst ?
he he
Hi guys..
Political senorita now getting worst.. be care full.. ( this is operators reasons for bringing down this market ) .. The same operators use to tell good good.. go long go long.....
Anandan.R
Anuj - it is 18 in BN.
Anuj Joshi, Rajgopal,
BN is always mad...its running up or downward is very fast....so may hit your sl frequently if not proper sl is not kept...
Ilango sir, nifty closing below Low EMA?
DOUBT IF NIFTY CAN CLOSE BELOW 5104 ON AVERAGE
92L OI in 5000PE ...... high riser will definitely provide good support for March.
Sold 4200CA @80 .... will hold for any drop to 5011-5020 zone.
Mr. Babu,
Is it correct to take C/f short position in NF initiated at 5110.
Arpitg345 : Like my trading method(No) my sl is also skewed. Escaping so far.
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Dear Arun,
I know you are carrying shorts for pillow. I am also taking one.
@Saravana,
It is most likely to close below 5104(Day High ema).
@arpitg
Yes you are absolutely right
Its a trending index unlike nifty which is more sideways
why?....because it consist of 13 stocks in one sector
So actually its very dangerous for Rajgopal's like system which is more of sideways market system...but he is a master ...he knows what he is doing...and he does it best
I like it because it gives nice swing moves...it even moves 400 points in a day ....400*50 20 K RS....that indeed a mad movement
Rajagopal sir,
All the best for your short. Yes I am also carrying short for tmrow
thanks,
Arun
@Prabhakar,
i am taking short to home.. 50 points stop lose as sir told
Thank you Mr. Ilango Sir and Mr.Babu Sir.
Rajagopal sir,
What is parameters setting for stochastic in your excel sheet? I get different value in ichart. Link is http://www.icharts.in/stock-lists/nifty-stocks.html
Thanks
Hi guys.. Up date on Puts suggested..
See the JP Asst.. more then 100%..whh....
Options Suggested : as on 08.03.2010 Suggested Entry price CMP Lot Size P/L Fund Needed
SAIL : 230 put 4.65 5.50 1350 1148 6278
Suzlon : 80 put 2.50 4.45 3000 5850 7500
Hindalco : 170 put 6.45 9.70 3518 11434 22691
Unitech : 80 Put 3.35 5.95 4500 11700 15075
Tata Steel : 620 put 21.00 24.00 764 2292 16044
ICICI Bank : 920 put 24.70 30.00 350 1855 8645
DLF : 320 put 10.00 15.50 800 4400 8000
JP Asst.. : 145 put 2.50 6.65 1688 7005 4220
45683 88453
Over all more then 50%..in one day..
Anandan.R
At last nifty fell,and at least on certain amount, completed public demand.After almost one month nifty has given a last trade so close to it's low.Previously it was on 10th of feb 2010.Bye.
Ilango Sir
Hello how are you?
Must appreciate you are doing a wonderful job sir !
Sir plz give views on nifty and infosys where are they heading to I am long at 5130 would i get some profit and a chance to short nifty and have infosys future at 2696 would I get my price again?
Would they end in profit plz advice sir and at what level should I take short in nifty for a fall which can be seen?
Have been following the article but missed a chance to exit longs at high? Plz advice what levels can i get?
Regards
Akki
Rekha - same formula setup as used in Nifty tech table.
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