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 ...
58 comments:
is it a real charge or a fake charge before a weak Euro opening? (Anyone knows the euro trend?) Buy calls are flying on NIFTY.
@Aarvee,
where to read your post??
@Amit
Reposting---
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1.Now the short term support will be at Monthly 5ema(5119) as broken the high ema,100dma(5115) and 38.2% retrace(5122) of recent upmove of 4675-5400.so,the band of 5115 to 5125 may give immediate support.Below which it can target the broken triangle target(5020) and 50% retrace (5035).Daily Indicators are yet to exhaust so downmove may continue with technical bounce of O/S Hrly.
2. Immediate resistance at 50dema of 5200 .Also the 5225-30 area which shows the highest volume in 2D profile charts.
3.Positional traders can keep the Monthly SAR at 5250 closing which is last series settlement price.
May 4, 2010 10:03 PM
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Amit - dig it out. Must be around 24.04 - he has brains in his veins.
ilango sir what u think abt nifty future ,can it pass 5105 and make new high plz give us the possibilities
@RG
ftse fut + 25
Thanks Aarvee.
@rajagopal
:-)
@Amit
I follow the neat work u present,today's was on parallel lines .
hence reqd. some inputs.pl.fwd mail id.
gone short @ 5100!
lets sit tight & watch
@ RG
Fly calls u said, plz give details..
@Ilango sir,saurabh moond,RG and others,
Here is a link of an article in 'Tucker Report' on similar lines as posted in premarket view today.
http://tuckerreport.com/articles/trading-methods-what-works-and-what-doesnt/
@aarvee,
tradingontechnicals@gmail.com
Good Afternoon...
Dear AAR VEE,
Thanks.and
Dear Gautam Bajaj,7th of May.Again important.As per your prediction today on 5th of May Nifty Future shows the low 5053.From here in spite of global clues market is trying very much hard to start the upward journey in a hurry.How much it will be succeed in it I don't know but the NF O.I. data shows that still bears are not in a convincing mood to cover there shorts.And why should they?This type of intraday bounce backs are the part of the market though I used to look market on just day to day basis,I will be eager to watch Market on May 7.
Anil - Three brokers have sent buy call with a raider "small quantity" for a target of 5125 - 5150.
Your SHORT gives me comfort - Ilango also advised shorts at this level. Will await his advise in the update.
AAR VEE : Where do you get the time to read so much? May be you talk less - very unlike me? I am an Indian. Will die if I don't talk. ("Super star")
europe opened slighlty positive lets wait & see right now .2% up...
Dear Ilango,
Now I will watch your given 5095 for NS.
DEAR ALL
I NEED A HELP
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SAME SERVICES i am luking forward if provided by any web site to be alerted as a SMS on ur mobile
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thanks
Dear Ilango,
I used to take your figures on whatever come first, basis and I am comfortable with it.
@RG,
I am data scavenger by my trading nature.Have developed a system to keep out the noise & non useful ones and use the rest in a way that it is aligned with TA and trend .Hence all the assimilation and analysis based on them.
@mynac,
It was May’5(Sri’s astro) and May’7(GB Gann’s) to exit shorts created near the truncated wave level.
I hope u add to your O.I. arsenal that when in a series the price starts trading below the last settlement price ,monthly/short term trend changes .(last month levels of 5260 )This has got 100% backtested results.
@Amit,
Noted ,will be in touch
@Manu,
Ur daughter will soon call u ‘Sugar Daddy’
Hello Blog mates,
Any views on TATASTEEL, all of sudden it rouse 'round 2% & now again down a bit. Plez post your comments on it...
Best Regards,
Sirisha
HYD
@ Sirisha,
===========
See Sir's posting as, @ mojib,
Tata steel may be sold around 570-575 area.
===========
Dear AAR VEE,
Thanks for your guidance because I never looked at it in this the manner which you are describing.Now I will.
Nifty heading new low?
Ilango Sir,
Where can I book profit on TATA STEEL Short initiated at 572/- in cash
Thank you
@ Prabhakar,
Take part profits @ 562. It might make a new low..possibly.
NF trailing SL 5087.Part book @ 5065.It might make a new low..possibly.
@arv
:)
"khand" in punjabi
Thank you Sir
@mynac,
Since I trade positionally ,I tend to look for bigger trend/curve to drive on.
March settlement was at 5260,once traded below this price in April,had to close below it 5254(its logical market dynamics),though I was wishing much more, (U greedy!!!) and now look below 5254 (April settlement)where it is.Now logically ,Monthly trend will change only on convincining trading above this level .Hence its Monthly SAR for me.
(Hope u remember my mentioning it in a weekend analysis)
Thanx a lot Mr. Prabhakar & Illango Sir
RV : Noted. I am a "knowledge begger" (few rungs below the scanvanger). Funny, the begger has the best assorted lunch. Since I have lot of empty space up, you are all filling it. Thanks.
Reg:"Touch"ing part, since there two hands, please do the needful.
New "LOW" sounds Manna.
Ilango sir , plz clear, this SL of NF is for conservatives also??
thanks
hi RV,
great analysis, another dimension to my knowledge added.
:)
And, nice to see you giving up your CCbacy ... :)
making it worthy here.
:)
[thats 3 smilies, one for the "sugdad"]
Dear AAR VEE,
As I have not that kind of patience but at least due to Ilango's guidance from here I have at least reduced my day trading and wait patiently for my price.
@ mynac,
but then you may not know, yourself & prosenjit kept bringing in a nice dish of OI whenever it was needed
@ Bizagra,
The SL is for intraday Shorts only.
Dear mok,
Now we are familiar to O.I.and I think so that now every one used to look at it in their own way which is good for us.
@Mok,
Nice of u to join.
Maintaining C-Cbacy(as not 'screwing'),A Man should enjoy 'carnal' pleasures once a while to fully enjoy the renunciation.
@Manu
Mahajan('Khand'elwal gotra)?:-)
@mok
nw i undrstood y u and Rg complained
abt "ugli nifty"===="sugdad":)
@ manu,
hey, thats cheeky.
you keep doling out the short sweet? msg scrambled out to us all the time,
i give it to you only once ...
:)
@ RV,
ok dokey, yu have given manu a LMS, [Large MEssage Service - kandalwal]
:)
@ mynac,
your contribution has been very timely, thro ur tight schedules ...
useful to us.
Thanks.
5 min candles are sliding down the bolinger bottom ...
while the stoch is sleeping on floor,
every fall is in good volume pikes.
20sma on 5min turned down.
15 min bolinger tightened.
After many days later look at NF O.I. which has crossed intraday 3cr + and Nifty Future is trading near it's lowest band means if Nifty wants to go up or wants to stay here only then also Bulls will have to take lot of efforts.
did you guys notice, in addition to Shorts & Longs, RG is also Zipping now, his file.
:)
Mok : do u mean the file with small white/yellow nails? Unable to do it fully.
@Mok @manu
Manu is a 'sugar' daddy for his love for bajaj Hind.
'khand'elwal since he mentioned sugar is 'khand' in punjabi.
Hope manu takes it sportingly. :-)
Bye for now
@ RV,
manu has no other go but to take it sportively,
and he can occuppy that sports post forever, without being gilled out.
:)
manu, no offence :)
@ RG, whats that yellow white nails, could not catch it,
did you mean highlights you have done on the tradesignals ?
The zipping has effectively reduced the spreadsheet to 25%.
Thats nice.
RV/Mok - Manu went behind "Khand" at the cost of his .... (this word also sounds similar).
The little one will call No Sugar, Daddy if Bajhi doesn't click.
===
Got Lovely material (fwd to both) (Personal only - not for circulation friends). Just have a look and advise.
===
Manu - You sold me the Goli - I am also having a sugar sack (Balrampur).Hope Sharad Pawar rescues us.
Mok - caught You !!! "My mouth"
@ manu & RG,
I got my own goblins of Renuka & Dhampur ...
It would recover someday, then the returns will be ok.
Should wait for bottom and while recovering can buy a little to avg.
RG,
14 points are there in the 1min bolinger,
Read that the FII were in no mood to SELL till yesterday. (Sold 38 Cr against 240 by DIIs). Any of you have any update. Bottom is certain (only)if FIIs book profit. Am I right?
@Rv
i ws nt sugary but dvlpd taste as sirs critic recmnd..
it s a diificult scrip 2 wrk as compared to renuka..
@mok
actualy i m a nt a hard wrkr
so nt able 2 contribute to any analysis..
so bettr be sporty:)
Mok - Not even bothering about the 7-12p game. Only BTST/STBT based on high quality TA tool made by the Great Brain(less) Analyst.
Truly, all STBTs are through and just teasing my brokers for so LATE with their calls. Funny Long side hit is HCL,only Long BTST clicked.
Thank you Ilango.
@ manu,
all of us permanant learners, tech or otherwise.
that includes you.
remember your taiwan index !
mmm, sugar almost fooled many,
but then it may get sweeter - along with fertilizer its kind of policy based too.
@RG ,Mok,Manu
Just parting comments-
looks like lots of friends have 'sugar tooth'.Get it checked by the doctor(Ilango sir).
What I see is that it's a cyclical commodity .prices are affected by its harvest season demand and supply.
sir can help u in EW count to get the wave on ehich they are sailing(as all of them are travelling on the same ship on same waves.)
To me, the down 5th will complete sometime before Diwali and then when it breaks the down trend line ,they will rise.(remember to note the false 4th breakout).
bye all
NEW POST DONE.
@ musti,
That SL is NF. Anyway, book out of shorts.
REPOST
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I NEED A HELP
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thanks
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