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 ...
54 comments:
Ilago sir, row for 10th May not there in above table...
Dear gautam pls add me also to ur blog invitee list.
sunilsehgal2002@yahoo.co.in
regards,
Sunil
Ilango Sir,
Good morning,
NF Shorted @ 5100 SL 5145.
Thanks.
sir and all
GM
sri
Ilango sir, sud we wait more for levels above 5100 to short
intraday?? or we can short here??
Thanks
Sir,
does it look like a pennant/flag formation in the 5 minutes charts?
Thanks,
sir,
5137 is 3 day high and 38% retracement frm fall 5400
to 4985,
4956 was 61.2% retracement and 4982 be considered
0.618 achieved
ilangi sir good morning sir i had put a short order in mini nifty at 5115 but unfortly nifty 50 made a hi of 5128 but mini not can i sell it now at 5098 or wait for higher level
@ rahul, as 5 min chart seems overbought, i would have shorted at this level in your position intraday, though SL is a bit distant. : just a view :)
short only below 5070
Hi Mr. Illango,
I've already gone through your stockwealth, in which you mentioned TATAMOTORS trend indication as DOWN & I also checked charts & everything, which indicates same & moreover there is no positive news too, but then why it is showing whole lot of strength?
Any comments / suggestions??
Sirisha
HYD
Dear gautam sir pls add me also to ur blog invitee list my id is rahul.goel32@gmail.com
Friends, My understanding is :
1. Sir has given clearly the Buy levels and Sell levels in his Preview.
2. We need to sit tight for these levels to reach the respective sell / buy action.
3. If you are keen to go for Rajagopal sirs 12 number bus - that is buying / selling and booking the profits with 12 points difference, u can look at Ilango Sirs Hourly Posts and if hourly close is lower than 5 hourly ema, go short around that close level. If Hourly close is higher than 5EMA , go long and book profits with 12 points.
4. Important, U need to adopt suitable stop loss and even venture for averaging with one more lot for short or long at next resistance or support levels , if u can afford.
5. U can make trials with mininifty Good Luck.
RG Sir, any expert views Please.
ilango sir can u plz tell me abt bajaj hind and tata steel ,what u think abt these stock and what r their resistance level
gb sir,
what is significance of 5070
-ve div in 5 min chart.
gd
@ Sirisha,
Though Tata Motors as well as many stocks & Nifty are in a corrective phase/ downtrend, all of them are oversold and some have +ve div in hourly charts like Bank Nifty. A counter trend rally for this down move from 5342 or 5295 may be on with a short term target of 5135 or 5250. And this counter trend rally too would not be an one way move and will have choppiness.
Trade if you can by buying into a pull back and selling in the resistances...if not wait for higher levels to initiate shorts.
Good Morning Dear Ilango,and Blagmates.
its my SL for a long and reverse for short
A good shorting point vl be near 5135-5150 as illango mentioned this levels, since bounce is expected to these levels and another 30 odd points higher, it is best to enter short at these levels,
Poor me, I'm already short in it...
Thanx anyway Sir.......
am planning to cover longs near 5125-28 ie, around prev. high ema..
Dear Ilango,
Considering the day’s range do you see any possibility that if Nifty will start to trade above 5110 in the 2nd half then a sharp up move is expected due to short covering?
upper BB 5140
Can anybody please confirm me if for last one hour or so, there is a -ve div in 5 min chart, nifty?
@ Mynac,
Nifty is presently resisted @ 5110 (5-ema) and it will have some correction. That could be a simple sideways one upto 5080(closer to low ema) and move higher to the "High ema".(5130-5135).
What happens after that will be challenging.
key levels for spot for today
5162.67
5148.04
5113.23
5100
5056.96
5037.42
Dear Ilango,
Thanks.It will be a relief for shorties.
A relief laugh! Thanks Ilangoji! I am short in nifty also, SL 5130-5135.
@pisreport,
there is usually negative divergence whenever
chart goes in pattern like nifty was in rectangle.
for 1 hr. still it broke up. it doesnt pay to watch divergence in patterns
watever i have learnt rest for sir to comment
thanks anil for the lvls
thanks anil for the lvls
Thank you PS
are watching for divergence consider hourly or higher time frame charts...
Mr. Illango, Thanx a ton from my side too as I'm also short in TATAMOTORS.....
guys play long above 5131.. tgt 5300+
Dear Anil,
I shall watch your 5163 keenly in the latter half.thanks.
6.11 lacs vol bar in 1 min chart
this minute bars seems to be..a HFT is going on in india too..
joking...
in india SEBI not permitted, as of now.
Ilango Sir,
SL for Nifty future (intraday) short is 5145. I think it is NS.. Am I correctr?
Thank you
@ mynac, though i have shorted intraday (can keep it in case required) and i assume you are also in short, can you please tell what SL you have in mind?
Dear pisreport,
Why I asked the quest. because as a day trader I absolutely do not see any INTRA DAY resistance for Nifty above 5110.For me above 5110 if it will start to trade in 2nd half then Bulls WILL dictate the remaining days target and trading. I may be wrong then. I used to close positions intra day only. So generally no tensions.I am long.
@ anil
hft? and wht with SEBI?
is it realted to Aglo trading viren/mok spoke abt?
Ilango sir as level of 5135 crosses , we sud look for 5250 for
shorting???may be tomm.??
5180 will be next resistance
mates who were in longs (entered @ 5075-5080) by end of last week should be having big smile now..i can immediately recollect Kgovind :)
i covered my longs@5130--great way to start a week
Ilango sir,
Can we short at these levels ( 5135-140 ) for a target of 5090-100.
Regards
request someone to help with 12.00 pm table values..
By the way.. i dont think this is the real upmove..
NEW POST DONE.
***************************
"if 5160 NS(being the 1st wave bottom) is breached, exit your shorts on some corrective declines." as this scenario can go higher to 5250.
sucker rally?
This rally has legs... 5300+
Sir
Good morning to everybody. For the first time, I was right on Fri and you were wrong. But I still did not win because I instantly sold wipro as soon as I saw that you had indicated lower level for today. I am not complaining. I have made more profits because of you than myselff.
assort7,
I felt so bad on friday night because of long posn and dow going down and down.
Also on friday evening I sold all my puts. But today nifty is now running up madly. Why is market always so happy when the govt/imf spends money to solve money problems ?
I sold my posn at 5125. I am only holding Bank nifty long posn now. I will hold as long as nifty trades above 5125. I feel nifty will even go to 5180. Bank Nifty has still not reached 9600 resstance. I will sell bank nifty at 9560-9600 and then also short nifty.
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