Bank Nifty TA file
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...
8 comments:
Sold telco @802 at around 9.10 mrng. Hit stoploss of 821 (squred off @825) during lunchtime. Then sold again @824 at 2pm which got settled @815.
@iLango Sir,
I like your channeling technique, sometimes I feel you do it more artistically than technically!
Can you guide us more on channeling technique, as I believe, it's an important part of EW theory also!
Rgds.
Dear Anand,
Please see to the unitech chart. I feel it is in overbought zone.
Can we short now.
Please guide
With larger view on daily chart - Nifty may be in formation head and shoulder with right shoulder around 5150 to 5180 - Head 5310 - now left shoulder on process of making with upward slanting Neck line - and this formation is also similar to rounding TOP.
Hi Babu, Manoj Chopra..
Did you are getting my daily stock specific suggestion by mail.. if not pl. send your request.
My mail ID : anandan777@gmail.com
Following Rank wise stock Suggestion given..
This purely will depend on Market sentiment..
If the market trade in Positive then this stocks will take more time to break..
DLF is now not a BUY Candidate..( and also not suggested for short )
Thanks ...
Short SAIL 226.50
Short Tata Motors 811
Short Hindalco 171.15
Short TATA Steel 610
Short ICICIBank 908.5
Short UNITECH 75.75
Short IDEA 61.85
Short Infosys 2670
Short MARUTI 1492
Short LT 1589.00
Short JP Asso 145.15
Short Suzlon 74.45
Short RIL 1024.00
Short GMRInfra 58.35
Short IDBI 124.50
Short SBI 2022
hey there Sir Ilango,
great analysis, as usual!!
5250 is where i see the ultimatum.
selling at tops?
OI is positioned to protect from any falls right from 5050, down till the 4800 area.
Once in the higher range (5150-5250),
will we experience a covering of all the puts that have been written already?
is this a critical time, for a big move?
Hi..Wroodrah,
For the immediate scenario, anything closer to 5000 is a buy area, protected by high 5000PE and anything around 5125-5175 is a strong resistance area.
Both the scenarios are equally valid: that of going for new highs and rally abruptly terminating soon and a start os a next impulsive down.
Looking to the market to show some cues.
hi..rajib,
Drawing of trendlines requires not just connecting bottom points & top points but also judiciously selecting certain critical price cluster area and finding parallels to guide us towards the "likely future price zones".
"Wroodrah" is a specialist in drawing trendlines.
hi..manoj Chopra,
Your analysis of spotting the resistance zone is very correct.
Illango ji
big shots now to this forum
Thanks for the wonderful explanation of how to trade
Bala
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