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 ...
99 comments:
KG - I am happy that humour is rubbing on you - just relax - all will fall in place. Read Mr Livermore (on the right) how many ever times possible till you biheart.
Kasab... Rajiv Gandhi Killer is still alive and in prison - how many PMs have come and gone?
Ours is a GREAT DEMOCRACY with Greater Judiciary. Don't be surprised if an Indian is sentenced to the gallows before this week in Pakistan. Has to be done for quid pro quo and later bargain.
Ilango sir,
One basic doubt, if dollar index up then whether it makes nifty to go up or down?
@dr. saurabh,
Have you tried the AFL for Market Profile in Amibroker.If so, can you pls share the same.
Regards,
Veer
seems FII may be in SELL mode today too...just a thought, considering selling started gradually since morning..if they switch gears up??
@GB,
you provided a link last week for buyer/seller movement in chart..can you pls provide again..missed to save site last time..
@ Arun,
They have an "Inverse relationship". If Dollar index moves higher, equity markets move down and vice versa.
am in intra-long as per sir's advice
Thanks Ilango sir
@rajagopal,
Target for Tata Steel almost achieved...
610/590 was the target
:-)
nifty yet so far trading in yesterdays range(excluding yesterdays opening candle),huge addition in O.I in 5300ce..5300ce and 5200pe having highest O.I..will nifty trade in short range for some more time to eat premium of options and also puts are costliers than calls.does it indicate anything???plz advice
i am also intraday long. 5 min indicators are also suggesting the same.
sir,
nifty made dbl botton but now no divergence visible frm yesterday low
Amit - Very kind of you. (Sorry must have thanked). Banked on the TA and held my Short.
Just keep TISCO and ABB in mind for reversing to LONG. DR S must average at low level.
CALL WRITING SEEN IN 5200 CALL
WHICH SHOWS THE ERLIAR CONFIRMATION OF NIFTY TARGETING 5050
ilango sir and blogmates plz tell what to do in nifty future and tata steel plz tell level also for stop loss and target
@ KGovind,
Day Trend : Down.
Hour Trend: Down.
In such a scenario, long trades is initiated in a small qty when Nifty has fallen away from the "ema"(Day ema being 5254) and closer to some kind of support level(Here 5200-5210).
Such trades are meant for short duration and for smaller profits than the previous fall.These are small intraday trades. Positionally one should hold their shorts.
Sir,
Please update on TATA Steel,broken 595 spot support?
Thanks
Sachin
sir,
in hourlu 5-10 macd there is divergence not in 26-12.
is my observation correct
repostiing
dear veer,
im having amibroker
but to feed formulas and other things i dont know.so i dont trust those values.
its manual is abt 1000 pages , which im not having courage to go through.
if anyone can help here. that will be gr8.
after 15th may be able to sort out this thing.
im new to amibroker, so till now using it end of day
@ Raj,
Tata Steel has broken the weekly trend line now.It is trading near the first support mentioned in the file 595. Daily is quite oversold. If it does not stop here, the next target is around 530-540.
Treacherous 'C' waves!
@ Sachin,
There is one support @ 580 to 587 for Tata steel.
Ilango sir..
till wat level do you think this short term bounce will go? took long at 5205;
your quick guidance would be appreciated to come out of LONGs at right level and hold my convervative SHORTS
Sir,
Thank you.
I am thinking you have answerred my question asked in update I. I did not know you had new update I and I was waiting and waiting......and opnly now realised everybody is here in update II
I have placed to sell 1 lot at 5225. other lot i will hold. Now moved SL to day low.
Hai ilango sir and others
I am posting the chart of ACC. The stock is trading
near the bottom of a channel. stock has seen correction
for the past few day's. But the channel shows the larger
trend is still up.
http://niftychartsandpatterns.blogspot.com/2010/05/acc-moving-up-in-channel.html
thank you
Hi Rajagopal,
no need of thanking.. we are a team here.
I just get into longs coz it is quite oversold in daily & hourly.
@ragul-k and all,
CALL WRITING SEEN IN 5200 CALL
WHICH SHOWS THE ERLIAR CONFIRMATION OF NIFTY TARGETING 5050
How do you conclude that call writing seen in 5200 without
interept OI? If somebody buying somebody selling, action
reaction same. Is there any other method to interept
option? If anybody knows answer please clarify me.
anybody can tell when the parliament session going to end? govt most likely to deregulate d oil prices before end of the session means OMCS wiil run and RIL also effect of -ve RNRL verdict negatedalso essar can be benefitted
meaning shorts to be maintained with a proper sl
****TEST****
sir,most of time corrections take faster? why this time very slow!! [like uptrend]
REPOSTING...
Ilango sir..
till wat level do you think this short term bounce will go? took long at 5205;
your quick guidance would be appreciated to come out of LONGs at right level and hold my convervative SHORTS
@RG
in adv 2:00 pm factor
lagta hai supreme court ( FII = indian market ke supreme court ) ka faisla aa gaya
sab lal hi lal jhule LAL
Broker's message:
=================
04/05/2010 13:56:18 Data expected in UK Manufacturing PMI...Please try to be square and have no positions till the data...dats is at 2.00pm IST
=================
i was at a intraday profit of 390 rs. at 1.45 pm, at 1.56 pm, i am in loss of 130 rs. , 2.30 effect par kya hoga
Manu - today Tuesday. PS says it must be +ve.
(If Nifty is +40 and goes to +60 and if it is -40 and goes to -20 it is +ve only).
Now a days Sugar is Sour. Over produced by 27% and price fall by 40%.
Rochak...
same for me.. quick guidance might have helped my position also..
now in deep red.. is abt to hit my SL now.. :(
Hi Amit - btw - my Future and Equity TA said "Sell" and hit a STBT trade in ABB. Just check, even dull students come up with brilliant ideas !!! (eg Microsoft).
sreeram,
guidance is always there! it has been discussed here that day's low is SL..your entry is 5205 i think and if you respected SL ..just 5 point loss for you...hope you understand...no offence :)
me too took long @5210..exited at 5198...its all in the game
Illango sir,
can i initiate a positional short at this point of time with a horizon of 3 or 4 days
broken April low of 17276 also.
rg sir,
i wud have said positive only but now since
u have abandoned those methods
i am also not following them
Sir,
I think a small bounce in nifty is on the card, can we carry a small long! The fall does not seem to be that fast, may be a bounce back before 5100 come!!
Good logic Mr.assortZ
assortz..
thanks for the response.. no offence mate.
sreeram,
thanks mate..lets wait for next round of trade to book gr8 profits..cheers
mynac,
almost all your cautious levels are taken out..thanks for holding index for 3-4 days :)..really impressed with your levels..
how do you see the OI data now? your input will help us all..
Sir
I have to attend a court hearing tomorrow. I hold cons short posn now. I got it from 5240 level. What should I do today to protect my shorts or my profits ?
I would be happy if you can suggest a Stop Loss I can keep at 9 AM tomorrow and then leave for court (whichi s 10am)
Ilango sir,
At which level u suggest to cover the positional short?
@ Rajagopal,
I do not track ABB, but I just took a glimpse of the chart..
It is trading below all the EMA's and falling in a channel.
Hourly & Daily are in Oversold zone
My view is that STBT could be the risky trade for me at this level...
:-)
@ KGovind, Arun,
5105 (+/- 15 points) is the first target for this corrective down move.
Try to book profits near that zone instead of having any SL as the momentum is picking up now.
i think someone has to wake-up GB from his sleep :)
ILANGO SIR WHERE TO EXIT TODAY IN NIFTY AND CAN WE KEEP SHORT POSITION FOR TOMORROW
Ilango sir sud we book fully or part near 5100?? Or we can
book fully and reenter shorts below 5090?? which is the better method.
Thanks
=======
When NF is at 5220, RELIANCE IS IN CASH 1,013.50
Now NF is 5167, RELIANCE IS IN CASH 1,024.00
=======
Prabhakar,
That means, can we take that we can fall more if big boy align himself with trend?
Prabhakar..
Maybe?? this news is keeping RIL up...
"Fitch ups Reliance Industries' LC IDR to 'BBB'"
http://economictimes.indiatimes.com/markets/stocks/market-news/Fitch-ups-Reliance-Industries-LC-IDR-to-BBB/articleshow/5889466.cms
Prabhakar
When nifty was at 5400, Reliance in cash was 1130.
Now nifty is at 5165 (loss = 4.5%), Reliance is at 1025 (loss = 9%)
Reliance has already fallen a lot compared to nifty. And reliance is not unitech or suzlon to have double the loss/gain of nifty.
@ Raj, Bizagra,
For the day "5150" may offer a support.
We need to see if any +ve div developing in the hour chart by tomorrow for such a reversal to book fully.
The higher time cycle TA is also getting affected. Now Nifty is trading below Month high ema.5105 is the month ema to offer a first minor support. Week maight close below "Low ema"(Another 3 days to go for that)
@assortz
:)
but ths papa..at support
sir if it closes above ? v shld close shrts
or lightn it
5183 ..
@assortZ!
So many times happend like your analysis.
nifty 70 EMA @ 5161, lets see if it held..
low of 19-April is also at same level
sir
cn i long BN as at lower channel..os too
@manu,
KG justified why RIL not fallen..thats logical KG…
Anybody wants to hit LIC HSG Finance - ripe - in futures.
Raja,
you meen short lichouse?
Good Afternoon Every body,
Dear ILANGO,Dear GAUTAM BAJAJ........ Thanks..........
what a CARNAGE
anybody seeing a shopping chance out of this
@ manu,
BN is trading way below its low ema. "Long trades" are risky under such a set up unless you trade with an "Expiry time" and a "Stop loss".
Hi Manoj - S. May get 935- (n from 963). Go
anybody shoppinggggggggggggggg
Dear rochak,
Trying to stitch up a SKY?
Manoj - seeing a bounce back - just check and enter pls.
rochak,, feels like going for shopping in Afghanistan...
desperate ,need help.
went long on nifty on friday at 5280(two lots).now i m loosing heavily. what shall i do? should i average more?
sold lic at 954 future
@rochak,
Shopping the Falling knife? Much important levels /trend lines are broken..should wait and watch..better to wait till hear from master @EOD view
I LANGO SIR
which stocks are on ur shopping radar
that wud really help us all a lot
thanks replying
@ rochak,
"assortz" has answered it. In may stocks the weekly channel is broken. Caution advised. Will study overall stocks TA & update this evening.
Grizly tasting blood .... Balle balle ho gayee hoye.. 5200 put ....doubling!!!!!
“CM” has represented mood of the citizens of the forum :)
@ back to bedlam,
CUT losses.
Don't keep any positions without a reasonable stop loss.Sometimes waiting for a bounce may wipe out more.
Choose your STBT trade:
Scrip Name LOW
ABB 716.73
ACC 872.06
BHARTI 284.54
BHEL 2427.98
CIPLA 330.30
DLF 295.85
GRASIM 2549.58
GUJAMBUJA 114.77
HDFCBANK 1914.48
HINDALCO 159.83
HLL 228.56
ICICIBANK 897.75
INFOSYS 2640.16
ITC 259.64
L&T 1554.60
M&M 510.09
MARUTIUD 1250.48
NALCO 399.76
NTPC 201.94
POWERGRID 106.03
RANBAXY 432.68
REL 1069.26
RELCAP 713.85
RELICOMM 160.31
RIL 1005.53
RPOWER 154.37
SAIL 206.16
SIEMENS 673.64
STERLITE 762.17
SUNPHARM 1529.54
SUZENER 67.06
TATAPOW 1301.30
TCSCONS 750.30
TISCO 569.23
UNITECH 78.30
WIPRO 651.10
@assortz
Cm is a Optha:) so blood balle balle:)
@ dR S / SIR
shld ibuy bajaj hind nw..
Manoj - eye BOB and YES Bank - went up like rockets. worth a hit.
thanks sir
thanks for ur response. but now i m having difficulty in booking losses
Manu - I indicated sugar for you only. Let us wait.
Futures showing "weakening" signal. Will buy when Sir gives Nifty Conservative Buy signal.
sir
wait fr bajaj hind 2mrw r half/half
plz 4 min remaing
Sir,
Will my STBT become BUY TODAY itself?
What a fall. Finally Manu, thanks for getting MIL the ticket.
The Noble young lady, First time mother tobe in labout vowed "will never allow Husband come close". She was back to deliver the twins promptly on the 10th month.
Well Sir. I am wrong in thinking "Prasava Vairagyam" is women's exclusive.
"labour"
Forgot to add. Welcome Back. Peace be with you.
Any Body noticed even after3.30 still there is a movement in spot Nifty?
Or India infoline terminal problem?
Dear Sethu,
Thanks a lot........ I definitely read it....
@RG
cn u gv me Bajaj hind lvls..
a i hv bought 25% withut sir consent
dear manu
try to reply ur sugar by today evening after seeing charts
thanx everybody.
thanx ilango sir
for keeping intact us and the shorts
hi sethu
im not getting ur tweets today????
any technical prob
ILLANGO/RAJGOPAL,
WHAT ARE UR VIEWS ABOUT SUGARSTOCKS...
thx dr.S
must be hot at ur place..
manunidhi21@gmail.com
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