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...
42 comments:
Nifty spot slips below 5295
NF 5305 is the point of struggle now. If broken, we will see 5290NF today. Gear up to book short at 5290 in next 30 minutes.
@ arpit,
Conservative trade also called positional trade is generally based on daily TA. Ideal to initiate at OB/OS area with some divergences to back it up. You can trade this "off line" with your SL & targets fed into your terminal / broker everyday.
Aggressive trades or the day trade are based on both hour as well as 5-minute time frame.Price range will be in a 100-125 points in this kind but may diminish to 25-40 points in a sideways move. This trade requires constant watching..
ilango sir,
But when an aggressive trader does some conservative trade and watch the price fluctuations of that trade every minute, he becomes happy and unhappy every moment watching the screen....And he has to watch screen because he has traded some aggressive trades also.....At that time he has to show his utmost discipline for his trades (conservative as well as aggressive)....But how such type of discipline can be practised is the main problem...Please guide in this line....
-arpit
Ilango sir, has the trend changed to DOWN now? Can I hold my SHORT at 5325NF for tomorrow? pl tell.
@ saravana,
A daily close below 5299 is a first signal of a correction. Nifty then may attempt to move towards low ema where one could book profits.
sir another 15 points down nifty hour will hit channel support, is almost o/s based on post diver in 5 min ind your conseravtive buy can we go for conservative longs
can we try intra buy if 9280 holds for once for 20-30 points
pl. advise
regards
vikram
sorry for typo in earlier post cons buy at 5260 after pos divergence in 5 min???
@ arpit,
:) :) :)
I am not labelling the trader but the type of trader only.
It looks like you are quite perturbed by every move of the market.
Decide whom you want to follow and do it consistently. I prefer you follow yourself...
Learn from everyone but make your own trading decisions. Even if it is someone else's trading plan, understand the plan, get convinced and then put your money.
You can just do two good trades in a month and end up being "Content" than most.
Think about it...
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Day trade Short booked out
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sir whether longs are advisable for intra only 20-30 points
regards
vikram
Ilango sir, conservatives target intact 5200-5225??
Sir - Day Short Covered - Conservative SHORT is on hold?
I mean as of now.
Nifty swinging..wild 10 point moves.
sir
where did we take day shorts at poc??? didnt find any post for its initiation
Sir - Any inputs on Bank Nifty?
Regards
Viren - Piyush calls it "Lovely 12 point swings"
Piyush Sharda, I think it is ----- @ Vikram,
You can initiate shorts around 5325- 5335NF.
March 30, 2010 12:53 PM
@ ilango sir,
Thanks for your prompt reply. Got your point perfectly......
-arpit
Ilango,
" I prefer you follow yourself..." good words. I am searching myself...
Conservative Shorts on? I am holding both (expiry date smeared) Is it ok?
Ilango sir, i too booked out my 5325 short at 5285 with a profit of 40 points. thanks.
thankx prabhakar, but it was to a question that vikram asked 'where can he intitate shorts'???????
hi guys, i have found out one more blog for nifty trading fiftypointsaday.blogspot.com
if u trade with Ilango sir's levels with trading range given in the above blog, profit is there for us to take.
Happy to see so many people profitable today.
Cheers.
@manu papaji knows about it i guess,
papaji share ur experience
manu,experience abt fiftypoints a day
Ilango sir, conservatives carrying shorts or booking at some level today?plz give views before close.
yes piyushbhai/prabhakar bhai..
at first i asked where to short positional, illang sir replied me by saying that i can do around 5325 -5335, i shorted there positionall and still holding...later i asked for intra long for 20-30 points...which i couldnot get reply
regards
vikrea
@saravana
plz dont go for ths blog..no study..just tukka..i was a member of kadiyalis blog and lost much n nifty..he trades on presumptions ..caution..jst check lvls he gvs at 11 am ..gnrly add 10-20 points up dowm..:)
Dear Ilango/Viren (First don't laugh).
Yesterday Ilango mentioned about "break out with volumes" for BajHind. Total volume was mentioned at which point the stock had moved to +ve. My question is do we take the entire volume to compare with the price? Because BajHind went to 131 (Low), the volume of which was also in the total?
Yesterdays move of the N50 stock combined volume was at 80% levels of 5,14 and 30 day average volumes.
How will you interpret this Dear Viren?
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Thanks to Viren, Shai and especially to Sundar
to work out the likely closing area of Nifty
suggested @ 5250.
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@piyush pa ji:)
forgot 2 tell a paid blog:):)
i thnk u wr also a member:)
my beta trades saved me the money lost on tht blog..
thnnx paji, i knew it but the caption is so attractive that it is hard to resist.it was to prevent somebody frm going the wrong path.
"Aum Securities said...
5260 coming GOD has helped me"
aarvee9 - Another BELEIVER?
===
A cobra wanted to be good.The Sanyasi advised "don't harm people". Cobra coiled and kept quiet. People stoned it. Cobra complained to Sanyasi who said "I told you not to bite only. Why don't you Hizz?
Illango,
It's amazing-it was all there and yet I closed out at 5289.
When you are trading, you forget your own words. I blogged about 5272 future yesterday :)
IlLango
how did Sundar work out that.really intresting.
i could only find that around 2:00 but he said before mkt opening.thats wow.
MY 5308 PENDULUM WORKING............HL/LL NIFTY FORMED 2DAY READY FOR 200 POINT BLAST.
RajaGopal,
EOD volume for EOD charts.
When you see intra vol pick up, supported by price, then make the move in intra..
Didn't understand ( first don't laugh)
RajaGopal,
Always good to see somebody acknowledge the Almighty, than the constant pat-me-on-my-back-I-am-right types!!
Viren,
Don't laugh is for me asking Techie doubt.
Yes. He is the Ultimate HEDGE. He PUTS whenever we CALL HIM.
But efforts are wasted. Someone has become the "Gandhiji's three Monkeys" - all rolled into one !!!
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