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 ...
91 comments:
HI DOC
HOWS IT GOING FOR U.ANY MAJOR SURGERIES IN THIS ACCIDENT .
Australian market wipes off all losses to close flat. What's there for India? Flat or Up?
Market Time Futures
FTSE 07:35 -35
DOW 07:35 +71
Market Time Futures
FTSE 07:40GMT -25
DOW 07:40GMT +75
i see the FTSE moving into +ve...
@san..
I see your +ve divergence is at work.. can you put your followup comments where u see this resisted/targets etc...
thanks
SIL
hello mr. gurumurthy
please give your mail address
hi aarvee
managed to recover my all broken limbs
@suchislife
The resistance as mentioned by ilango sir is around 4927-4931. And target can be around 4980 were selling pressure will come.
But we should cross 4931 first which is not going to be easy.
thank you
Never trust dow futures. Yest evening at 3:25 PM it was -1 point. At 5:15 PM it was -135. At 7 PM it was -225. So looking at that is a useless piece of information. It is mainly to trap traders. I bought my call only because of the Dow not showing any problem.
today will decide whether profit or cost to cost
as 1 nifty still holding dont wan to move out early
but its again going against my beleif:-(
@San...
noted your point will see for 4931 to be taken out first...
@Govind..
you are 101% right abt DOW..
SIL
Dear Ilango and Blogmates
Two nice reads:
http://www.thestreet.com/story/10762394/1/kass-fear-is-the-rational-buyers-friend.html
and hope for all thing long or let me say STUCK longs!!!
http://www.alphatrends.net/2010/05/20/200-day-moving-average/
This was my take on the hourly chart today..
http://3.bp.blogspot.com/_88fjmcdhjs8/S_Yik09H6xI/AAAAAAAACRQ/wRatriIVZ1Q/s1600/NF+Hourly+21-05-2010.png
Posted late here...next time will do it on time...
Cheers!!!
GB
good to hear that ur DAD's doing good.
god bless all.
hi RV
TODAY LUCKILY GETTING NET IN MY NEW OFFICE
THIS MOVE IS ONLY TO FILL THE GAP. NOW GAP IS FIILED. ANY TIME IT CANS TART DRIFTING DOWN.
DONT KNOW FOR HOW MANY DAYS WILL BE ABLE TO MANGE THIS
SPELL MISTAKE
MANAGE*
@SIL,
Sad to know that day by day there are lot of partners in crime ..sorry PS :)
HI IITIAN
sometime this gap is filled and sometimes not????????????
y so can u tell me or share with all of us
hi rv,
read the mail of mok, will respond eod.
@DOC
U ARE IN DEFENSE ,I SUPPOSE.
Now that i am confusedly short after yesterday's GREEDY LONG, words of IITian is a comfort. will hold as positional, as advised by Illangoji..
lLINGO, DO U AGREE ME THAT FIRST LEG DOWN SHOULD TAKE OUT THE LOW OF PREVIOUS DOWN LAG THAT IS 4675 ON NIFTY MADE IN FEBRUARY IN FASTER TIME? PLEASE REPLY.
ilango sir ur expert comments plz
regarding positional shorts
NF MOVING UP WITH LOW VOLUMES.
Dear ILango Sir,
If Nifty Close above 4930 ( Day Low EMA ) then we can create long position for tgt 5050
FTSE in +ve zone +5 now
SIL
After a long Hours, Nifty looks set to close above "Hour High ema" - which can bring some momentum to this rally.
PreMarket View has been working well in combination with ORB.
Hi Everybody!
Nifty is trading above 5EMA and also very much oversold on charts so shorting is not good strategy on this point. Its best to Buy with strict stop loss now...
my short SL hit at 4931
next trade only after master's next view..
SIL
RG - Hope ur holding ur longs nw?
Dr.Saurabh,
If Nifty closes above 4922 @ 1.00PM, some partial unwinding of shorts is good, if not done earlier at the open.
And the earlier view of Day close above 4931 is an alternative method to book partial profits in Shorts.
I am holding my short at miserably low level . Need advice, that can be carried as positional. What should i watch for?
GB : I am LOOOOOOOONNNNNNNNNNGGGGGG (hopelessly?)
WITH DUE RESPECT TO ALL THE SENIORS, ACCORDING TO INTADAY 15 & 30MIN CHARTS CHANCES OF NIFTY GOING BEYOND 4940 IS LOOKING WEAK FOR TODAY.
Rg
same attack:):):)
Hai everyone
Nifty not able to sustain above 4931.
Ilango sir,
If it close below 4889 Low EMA Shall we continue our shorts ?
Sold at 4925, with SL 4940
sir
all numbers in front of me, market behaving according to
those still i cant see
my analysis is that there will be sharp sell off in the market after 2:30 PM. After which there will be margin calls. Bulls have still not learned the lesson. On monday they will be completely wiped off. Anyone who beleives in my analysis can buy put option of 4900 to get his money multifolded. Decision is urs.
@ PS,
This is the Premarket Plan. One could have fine tuned it as per actual lows and highs and get the relevant emas for trading.
Trade:(4765) 4805 << 4835/4850 ---- 4880/4890 >> 4925
Now one fundamental and long term view for indian markets. Indian will test 7000 level in next 2 years time therefore please do not invest for long term. Europe crisis is bigger than any one so far, as some poor country is helping another poor bcoz another poor is relatively more poorer. This is not a joke. Ultimately there is going to be currency crisis.
@IITian
SIR I AM SEEING U TAKING PAINS TO LET US EARN SOME MONEY.THANKS FOR IT.
ANY PARTICULAR TA LOGIC BEHIND TODAYS SELLOFF AND MONDAYS WIPING OFF.
yes sir,
it is clear
but my day never ends without making mistakes
added to shorts at 4920 closed 4925
sorry 7000 was for sensex, for nifty we will go to atleast 2000 level.
4890 SUPPORT FOR NF IN 15MINS CHART
cheers
closing below 4922 at 1300.
went again all odds shorted one nifty at 4931 but covered 4920
still holding conservative short.
@ aarvee
yes im in indian army
@IITian
HOW DOES IT HELP IN AN INTRADAY FORUM TO GIVE SUCH LONG SHOTS.
IREUEST U TO MAIL UR ANALYSIS TO ILANGO SIR ,IF HE FEELS GOOD ABOUT IT ,HE CAN POST THE SAME HERE FOR THE BENEFIT TO ALL
closed added shorts , holding shorts created at 4880
@DOC
SO ARMY PEOPLE GET TIME TO TRADE INTRADAY ?
yes logic is very simple, first leg down has to break 4675 levekls.
@ iitian
very aggresive call..
hope all iit ians are ans st. stephenes suffer
Has it closed on a low on fridays this month? Last friday it did, but I can't recall the two before.
@IITian
SAY IT DOENT AND MARKET RETRACES BACK FROM 4725 LEVELS AND MAKE A NEW HIGH IN OCT THEN
DOESN'T
thanx ilango sir
it is really working
any fresh updates from ur side.
aGAIN MADE THE SAME MISTAKE
NOT BOOKED IN MNG SAW SAME LEVELS WHERE SHORTED YESTERDAY AND HOLDING
carefully watch europe, also today is the last day of the week.
NF BELOW SUP OF 4890 SHALL NOW TGT LOWER LVLS OF 4850
@IITan
all what will cause problem is known to us
but what will his us when is not known.
we knew greece months ago but we r it trading now.
we know subprime since 2006, still rallied,
but tradable crash was in 2008.
many people r saying crash of capitalism and world economy.
they r very learned and smart.
equally learned and smart people r predicting
all will be well after hiccups
- very difficult to trade on these
ATP now 4886,
move below 4880 spot will accelerate bear power.
next half hour seems crucial. if nifty dont sustains above 4898, lower levels may open for bear ride 4860
whatever my comments are, they are based on, various TA parameters. I will discuss those when I will have enough time to type in. I am frequent trader so keep on putting orders quickly.
hi aarvee
im doing it offline
cant do it in office but this is my new office for few days
so enjoying D-COMPANY
thanks a lot Mr.Ilango for guiding us through this phase....I have squared all my shorts and puts with huge profits..credit to Ilango and his team here...no longs now ...no shorts...expecting big upmove in europe and US tonight after german vote....will short again later when the experts here and the master advises or below 4800 as GB advises.
Note: a germen banker has warned of lower circuits monday if german vote fails...though another expert is telling me monday markets closed in europe for some festival....too much confusion ..better stay out.
BALLE BALLE HAS already happened courtesy ilango and fellow blogmates.
@sir,
PMW- upper tgt achieved..now it seems we are travelling to lower tgt..:)
great
HI PAWAN
C U AFTER LONG TIME
@IITian
JUST ANSWER MY LAST QUERY THAT IF WE TURN AROUND FROM 4725 AND MAKE NEW HIGH'S DOES OUR CLAIM REMAINS VALID
@IITan,
I don't hold much with predictions because most of our pockets won't bear the losses if they take their time to come true. Nostradamus predicted in 1530, they came true after 400 - 500 yrs.:) If I'm early to call a trend by 1 hour, someone makes a loss.
We see all the same things. Do you see why Ilango's blog is such a success? He predicts to guide, but his experience makes him more consistently just on time.
@ IITian,
Just noticed that Ftse has retraced the last rise in faster time. That is a major trend reversal for Europe.
Also Hangseng (For Asia) has recently broken the last major Pivot point.
For Nifty, it has risen from 4675 to 5400 in 41 days. This fall has consumed so far 31(32) days. So for a major trend reversal, 10 days time left to break 4675.If not, the larger trend may remain UP.
Shanghai reverses to close 1.1% higher
@AAR VEE
This depends on anybody's understanding of the market. My understanding is that this market will go down and break 4675 maximum in next 3 weeks.
@ IITian,
THEN I WILL FIND IT ENCHANTING TO MEET U AGAIN IN THREE WEEKS TIME AND LEARN FROM U.
yes llango sir, that is why i am telling it is dangerous to trade long. Either stay out or take some short position.
Thank you sir. I appreciate that you followed my comments.Kindly tell where I can mail any further information to you for posting, if u wish.
DOES ANY ONE FOLLOWS PRICE PATTERNS FOR THEIR ANALYSIS.
@ IITian,
Whenever you have some compelling set ups based on your study/ observations, send them to
vanilango@gmail.com
I will post them with some "labeling" so that readers can access them whenever they want it.
@ AAR VEE,
I need to go back and Labels all your analysis for those interested in "Studies".
Dear Blogmates,
It will become easier to read the comments if we use upperlower fonts instead of all Caps.
Sorry if anyone hurt with this suggestion...
-arpit
@ IITIAN
THANX FOR UR COMFORTING WORDS
IM HEAVILY SHORT BUT ITS NOT BRKING DOWN
SHOULD GO BELOW 4880
RV : knock knock knock. All Waiting.
FOR ME TO COVER MY SHORTS
@ RV
IM VERY IMPATIENT TRADER SO I DONT BELEIVE IN TRADING ONLINE
Dow down 300+ points. Dow futures up 15 points now. Our market is not even down by 1%. Even yesterday we did not fall. Is this again a trap?
@ Ilango sir,
A REQUEST THAT U LEAVE THEM AS THEY ARE ,THEY ARE ONLY EXTENSION OF YOUR METHODS I REMAIN ONLY THE METPHOR,WHY TAKE TROUBLE.I AM ALSO STUDYING WITH OTHERS HERE THOUGH DISTRACTED AND NOTORIOUS MANY A TIMES
Hi,
The fall in 2008 and the rally in 2009 were both unbelievable.
And the way US markets fell down in 1 month shows the fall if it happens this year can be very brutal.
If we read the reports of Robert Prechter and Rohit Srivatsava, it is very scary. If their words come true then easily we can see Sensex below the 2008 lows.
Will this happen? And if it might, at what level should the entire long term portfolio should be liquidated?
Sorry to bring this up in this forum now, but Ilango sir if you could give your long term it will be really helpful.
Thanks
HI ARPIT
will surely do
@ilango sir
nifty not going below hrly lema and also trying to go above 5hrly ema,
wait for an hr?
sir nifty also making new highs continuously should we expect one more at 1400 hrs
Dear Sir
Currency crisis started affected my business badly
i am now jobless so i am trading
It's starting to fall again. If it is going lower, this one should be more sustained.
hi rg
is there any upgradation on those xl files
if yes plz mail taht to me also
i have one more request for u as i dont do it in stocks and want to start with ur exl sheet . plz share a detailed writeup how to go abt it on mail or in open forum.
though i treid to start 2 times i get whipsawed both times.
its scary 3 rd time , so need ur help.
thanx
@ yoda
wishing it to more sustained
but still not coming off
@Aarvee..
hope you take this advice in good sprits.. Your msgs here are valuable for all of us and many wait to see you post aswell..
BUT, Messages in CAPITALS are very hard to read in the already tensed markets.. if you think the same it would be great if you use small letters for viewers to read quickly and comfortably..
Cheers
SIL
@sethu sir,
the gap is already filled
NEW POST DONE.
Dr - will sit and compile one +vely this week end. PS has insisted on it long back. Trend is the key in using the file Dr. It is giving me immense pleasure. I believe in it. I keep the opposite extreme as my SL.
I think among the best education I had. Thank you Ilango Sir.
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