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 ...
71 comments:
Hi Aarvee.. You were spot on again.. good stuff... can u uncode the Dan tana tan... lol!!
Congrats again...
SIL
@ bizagra,
The "b" could be over as in a fast falling markets. Or it could become an irregular, complex kind where in it may make a new low and attempt to move up once again and fall after 2 days.
But most important factor is: Settlement pressure will be on the Bulls only - every rise the "stuck bulls" will come to exit the market.
Sir,
Is it possible to give BN Support points, I know that you told 86XX. In between any minor supports?
I am holding short bank nifty from 9625 onwards, friday on your advice part booking did at 9160 and yesterday i re entered. I want to do again part booking
@ aarvee,
"It will retest the lows" - yes, you are right, NF has exactly retested the previous low @ 4852.
Good morning,
ILANGO SIR & all blogmates.
Morning Prayer
------------------------------------------------------------------------
Where the mind is without fear and the head is held high
Where knowledge is free
Where the world has not been broken up into fragments
By narrow domestic walls
Where words come out from the depth of truth
Where tireless striving stretches its arms towards perfection
Where the clear stream of reason has not lost its way
Into the dreary desert sand of dead habit
Where the mind is led forward by thee
Into ever-widening thought and action
Into that heaven of freedom, my Father, let my country awake
(Atleast make my blogmates awake)
Dear Ilango sir..
with June NF nearly 15points in discount.. when is the best time to rollover NF from MAY SHORTs to JUNE SHORTS?
What statergy should be used in this cases where it is huge discount..
Not urgent respond at ur convenience..
SIL
Good Morning to all :D
good morning sir and friends..what a day to start with ?
thanks AAR VEE...
long time heard that prayer..
tisco???
Sir,
Just now i have seen your BN support points in old blog,thanks
new low as of now....fut..4845
Sri R N Tagore at least was not holding SHORTS in a falling market when he wrote Gitanjali.
Hi RV
never said that he ever traded dear
Hi RG
Great people say words to be applied where ever u want
Its about enlightenment
Hi bizagra,SIL ,assortz,
GM
Looks like we will see 4620 pretty soon :-o
hi RV,
good morning..enjoying the KG rhymes :)
ya aasortz
People make me remember Ba ba black sheep,Humpty Dumpty,Jack and Jill.
I enjoy going to the school
Hai Everyone
Nifty Support line in 30 minutes chart may be held in case of a break down of 4942. The chart is also Showing divergence.
http://niftychartsandpatterns.blogspot.com/2010/05/nifty-30-minutes-chart-support-and.html
thank you
Typing mistake
In case of a break down of 4842
thank you
dear arr vee, plz tell are u expecting big down move in next 2 days??
Thanks
@ San,
Hi,
Do u think 4842 level will hold today and this series.
Ur views reqd.
@san
good observation..
thanks a lot...
@bizagra,
pl. go through weekend analysis ,"caution" part ,will be helpful go get an insight.
and ya my "Wave"length says mini "Sunami"
RV : Ok. 4842 will not hold. What is your bottom number?
Can v increase shorts from these levels? Just stretch your stuck neck a bit.
A pullback to 4975/4890 cannot be ruled out, before falling to 4820
RG,
Levels are there in the weekender to see in "short term" support area.
and pay attention in class when some other kid writes his homework and teacher shows it.
@AAR VEE
As far as technical analysis goes. Still reading Ba ba black sheep,Humpty Dumpty,Jack and Jill.
So please read the rest of the paragraph keeping in ming the above line.
A Break down of 4842 might happen But it may not go down drastically. Even if it breaks 4842 we will get support from 4780-4805 region.
FOR BETTER RESULTS PLEASE CONTACT ONE MR.ELANGO(MASTER)
thank you
Gm to all
i am waiting for narrow range to fresh trade
San
Thanks for the views,ur blog is always helpful with such neat work and comments.
keep up the good work
Thanks AAR VEE
RV, the weekend write up was a great one....In words of Jose Mouriniho..."Special One"
Cheerz
Gaurav
Gentlemen, looks like 5000 level will not be visible for sometime now.. we are heading to 4750 - 4760.. cheers shorties :) :) :)
ilango sir yesterday i had buy nifty at 4968 what should i do can i avg it
GK,
thanks
It will become special one only when my friends benefit from it.
Sir,
Weekly and daily Stochastics, both are in the oversold zone. As it is in both the timeframes, any significance for the bulls as Nifty is also close to the lower boundary of the channel in the daily or weekly chart?
rv's comments
----------------------------------------------------
1.The Nifty Futures Open Interest of May series is at the highest level (2.967 Cr.), of the total series.The Daily Volume Profile and long tails of the Candles in Daily charts indicate that there has been buying at lower levels during last week.
The Next Week being the Series Rollover and Expiry one , if the markets start trading below 4850 levels ,the overall Bearish TA along with high open interest can bring panic closing of the longs in the system and even break 4800 levels to trade below it with target of 4760(ABC pattern),&4725(23.6% retrace of total upmove from March 09 to April 10).
nifty 30 mins chart rsi showing oversold,
could i go long from here?
Rg
chk ? div n stocks..is it a trap again..
even eq buy sell data too positive..
Doller index again near 87.
we are trading below day/week/month low emas as well as below the pivot supports of all time frame..can we see any unwinding of longs in the second half?
i believe there will be "sell-off" in every small rise till expiry..
Hi PS,
GM,
Thanks for the rescue.
Though the neck is out from the anvil in the morning itself,people dont want to keep the grinded axes back.:-)
What happened to ur shorts?
1) One hour candle must close below 4842
2) subsequent one hour candle must not close above 4842
FOR CONTINUATION OF DOWN TREND
OR
IT MAY FORM RANGE 4830--5030 FOR 4 TO 5 DAYS.
FOR TRADING RANGE-- MAY BUY ABOVE 4870 SL DAY'S LOW
Ya Piyush
Who ever did "Buy and Hold" will logically have to do "Sell and Fold".
so more pain
Manu - all Down targets met. May be some small recovery...more monkey catching...new Topis. I am in Langode.
===
PS : Thanks for reproducing the kundali. Looks like NIFTY is looked at by all Raghu,Kethu(where is Sethu) and Saturn at the same time (and RV).
gm rv,
shorts :-(
I am trying to reverse nifty for the past two few day's. Lets see if this one can do it.
FALLING WEDGE 30 MINUTES CHART.
http://niftychartsandpatterns.blogspot.com/2010/05/nifty-30-minutes-falling-wedge.html
THANK YOU
San,
good work again,what u do in realtime is just amazing,real good observation and interpretation.
Hope will help the Jack and Jill's still going up the Hill
Thanks AARVEE
Hope jack and jill who tries to go up the hill exit with a stop loss(4842) if nifty starts coming down.
thank you
Only 8 of the 37 have met the Down target so far in futures. Does it mean RV is yet to push Dumpty? Are you holding back RV?
ya San
and they should remember that 4899 ,200 dema, is the well where they may get pale of water ,else will come tumbling after as this divergence time frame is 30min. only
dow fut is fallinggggg.....9900 to 9866 in mins
here a quack thr a quack
"quack-quack" everywhere
old Rv had a plan eeya eeya oo
Just short'd NF @ 4843 keepin day's high as SL :)
welcome manu
lets play Rina ringa roses
Hope ur pocket is full of ---
we are perfectly aligned with dow fut today after a gap down..dow fut breaking its low consistently..9853 now..looking for some big action from europe..but as ANUJ said europe becomes like karachi..
Dear Sir,
I have ONGC May 1100 Put 10 lots at Rs 15 and the same Jun puts 21 lots Should i book profit or wait for expiry
Nift is feeling guilty to slip below 4842
Bye folks
Take care
have stop losses in place ,trade safe.
I smell nifty touching 4770 level today or early tomorrow
My critic has closed most of his Shorts just now(held for 12 days- only to protect profits) though new lows are possible.
He advises, intraday players may either book profits in the next dip when Europe opens or trail it with tsl.
done sir
It has stopped falling and is turning up, in the shortterm at least.
@ilango
yeh ur critic is doing right, it seems, b'coz
on TV channels now they r shouting to go short, till now they are shouting to go long.
now every monkey will try to catch the train, their lies the problem.
NEW POST DONE
Sir,
Your critic has closed his "Conservatives"?
Emphasis on "Intraday players?" - do we hold Shorts-Conservative downside still available?
Sorry. You were clear about it. But this recent post generates the request.
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