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 ...
62 comments:
Good morning to all!
Hi Ilango,
I am currently holding the short created at 5120.
Book here and re-create at higher levels or hold?
Thanks
Gnana.
@ Sekar,
Today is a tricky day to trade. Though "5082 NF" is broken, it could take support here and trade upto 5110+ again and frustrating us with these "TWO Possibilities" as shown in the earlier post's chart.
Sir intra longs can be created withsl 5075 NS
for targets 5115-5125?
For Bank Nifty I had suggested a pivot low of 9525-9535 and it has kept the 9535 low and if it moves up from here, it can test 9600+ and then fall to a new low by tomorrow, if not today.
Nifty too could do in a similar fashion.
Ilango Sir,
Can i short bank nifty now?
what could be the possible target please?
Thanks,
Pragati(Shalini)
@ musti,
Put your "Intuition" to test.
Ilango Sir,
Sorry, it is just that my query and your response crossed each other by 1 min delay.
You have already answered my query.
Thanks,
Pragati(Shalini)
@ Shalini,
BN is "OS" and if it holds "9525-9535"(Which it is holding), it may rally higher. The selling may be done after a good bounce or at the break of 9525.
5075-5078 , very watchful
Sir I go with my intuition,
long Nf@ 5078
sl Ns 5075
Sir where to turn again?
@ musti,
Again ask yourself that same question. See if you get any answers. If not, I will give my "Opinion". But finally you have to ratify it and execute.
Sir actually today i am confused so i ask to U
abt my trades?
Asking master regarding opinion is the best thing I suppose?
Thanks for the answer Ilango..
Tricky day :-)
as 4th wave is going on , its better to be with larger wave trend , right now down, so v must look for shorting opportunity at higher levels as given by sir in premkt view,
intra rallies up may b short and more pateince testing so trade accordingly.
DEAR RAJAGOPAL SIR&ANYONE
WHEN IS TATAMOTORS&TATASTEEL RESULTS
Thanks for the response Ilango Sir.
Bank nifty has broken 9525 now.
Regards,
Pragati(Shalini)
@ Shalini,
My charts and levels are of spot only.
Sir,
Its a nice place of activity for NF....VAL at 5076 ( holding strong ) and previously tried hard to hold the pivot of 5082 but slipped a bit. But cues are bad which might pull it down.
and your 5110-115 is what is on the anvil, i feel, before it indeed retraces back.
OS Day scale might give a small tech bounce ?
am i thinking right, sir ?
anyone tracking Suzlon... its up by 5% with good volumes
daily chart is also showing +ve divergence & ovesold level
Dear Ilango sir
i think NF made a double bottom at 5073 NF/ 5085NS what is the nearest resistance it may face intraday;
thanks
sreeram
@ musti,
My opinion: If the next "down" has started from 5138 of yesterday,this upmove may last upto 5115-5125 and start to fall.
Raise the SL by 10 points after 10 minutes.
Rajagopal to Intution:
Hi Intuition : Can I go Long here?
Intuition : mmmmmmm.....
I : Or Can I go Short?
Intuition : mmmmm.....
I : What? Tell me?
Intuition : Will you do exactly what I say:
I : Certainly. Else why am I asking.
Intuition : Good. Go Ask Ilango.
(Can't you see Ilango - how much ever you preach, you will remain our INTUITION.)
RG sir...Fantastic !!
I am absolutely sure of this 'inner activity 'in almost everybody around here !! Guys, bet ?
regards
Ilango Sir,
Point noted about Bank Nifty spot.
I will track as advised by you.
Thanks,
Pragati(Shalini)
Its like a school teacher suddenly changing his style of functioning at the behest of HM to let pupil blossom on their own. But pupils are caught up by that strange fear of being in an unknown and uncertain world.....the tussle, i tell you, is amazing...
ilango sir, i dont know if you would believe if i tell you my true feeling.
that, you the best 'thing' to happen to all those people here who badly wanted to learn markets but clueless to go forward....certainly, you are a god-sent messenger ! if not, you would not have commended so much of followers, amidst the ocean of bloggers.
in telugu we have a saying - 'sarvam ishvaruni krupa chey jarugun..."
regards
sir ,
i took intra long at 5077 nf
Intuition is the silent voice of 99.999% background of certainty behind 0.001% foreground of uncertainty.
air
all the candles making low r havein long tails.
(hammer).
typo,
sir instead if air
Hi Mr. Illango,
TATAMOTORS projected low breached & now trading at Rs. 812, so shall I long in here??? can we expect dead cat bounce or something???
Best Regards,
Sirisha,
HYD
ilango sir what is the stop loss for nifty future for long
I am also intraday long in NF @ 5079 level, will wait for 5100+, sometimes mkt tests patience. But the last message to Masti says we are in SL area for long! Am a bit confused. May need Mr Ilango's view if to exit now..
Tatamoters can test 795 below 821
so hold short
sirisha,
Long in tata Motors could only for a small bounce.
Look for stocks that have not made a new low today compared to last 2 days - they are good. Like Tata steel, suzlon, Baj Hind to name a few.
GM all Here...
illango sir i shorted banknifty on the break of 9525...but it has bounced back from 9510 in Future....sir should i hold this short for some time...or exit at ...what SL
regards
vikram
sir yesturday u have given this calculation 5053 to 5084 NF is 31 points.
From the 2nd wave , add 31, you should get the next selling level..
So far the 2nd low is 5071. hence 5071+36 = 5107NF is this going to work for today? 5115 to 5092 nf 23 points if we - 23 from 5084 comes to 5061 is this buying level
I think mkt gave me the answer just with last min move, do not doubt the intution and the MASTER! lol
Its good to see discussions about “intuition”..
My “intuition” worked only once in my life that is when I saw my wife first time :) rest all the time it worked viceversa :) ..
Ilango sir, today is not the day to conduct “intutuion” test on us :)
Guys
Does this news will impact markets
UN ESCAP report: Forecast India's GDP growth at 8.3% in 2010
5082 pivot is acting very strong.
@ Nitesh,
You calculate from yesterday's high of 5131NF to 5071NF today as 1st(a).=60 pts.
Now this 2nd up(b) is on. If it stops at any of the retracements (5094-38%; 5101-50%; 5108-61.8%) and falls....subtract 60 from the 2nd(b) top.
There are other possibilities too at work and that is what makes it the most challenging one. When the probability narrows down to one, it is 100% success, other times, play it light.
Thanx Mr. Illango.... I make a note of your point...
Thanks sir for that answer to Nilesh
@ assortz,
You are right about the choice of "day" for checking out "Intuition".
I believe, if everyone can air their "Honest, unbiased, spontaneous view/ opinion" without a fear of being wrong or ridiculed, we will have a wealth of secrets to the market.
Often our own ego pulls us down.If we can fear no one & no one's opinion, we have tasted true freedom and be with Truth.
Dear sir, buy SUZLON at current Level????
Very well said Sir.
looks like steel stocks may shine in late trading today. Tisco specially now it's 571
yessss indeed sir.....great words of wisdom
banknifty again dropped ....holding short rom the break of 9525
regards
vikram
@ Sudarshan,
A short term low will be in place either today or by tomorrow. The expected low is around 4980-5020.
STocks which are beaten down may be bought during Nifty falls. I have not seen any +ve div developing unless a new lows happen.
I would suggest you to wait for the break of 5057 spot to initiate a long in such stocks.
ILANGO SIR, Good morning,
Sir in morning intraday Shorted 2 lot of minifty @5093.65 with SL @ 5115. Now NF @ 5072 , sir
shuold i book 1 lot @ CMP @ 5072 OR keep trail Sl down @ 5090.
Plz adv. Thanks a lot.
Thank you sir
Hold for further lows.
Book in one if it rallies to > 5082NF
assortZ : How many times you regretted for not listening to your intuition's warning?(about the first time)
Euro hits new 52 week low.....therefore dollar index new high !!!...get set go....for 5000
@sir,
I work in a company for almost 13 years ..i believe we have great systems and good work culture..i have been noticing that each individual whoever join my company ( whether at low or high level) irrespective of their self attitude, they well adjust to the company’s attitude and never become a “bug” nor “conflict” to the system.. I believe this is only because of the positive work environment we have been maintaining,..
I experience the same here in our blog..everyone here participate with no ego and respect opinion from others and I personally see myself growing as person apart from business..
I never felt shy or fear to ask questions to clear myself in general and especially this space never made me back myself from asking anything..i love this space next to my home :)
where one can enter for long ilango sir
@RG,
I know you stitch a trap here..she read this space and my intuition warns me not to answer this question :)
@ abhishek,
Book one lot here and trail SL for other @ 5070NF
12 pm readings pls
NEW POST DONE
Ilango Sir,
Can I wait to book profit in NF for the levels5030/5040?
Thank you
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