Watch supports @ 4940 zone..
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 ...
63 comments:
Nifty is trading around 4930-4942 levels since long time...being expiry day.. worried what sudden twists may come...
SIL
"Aayiram kaigal maraithu ninralum Aadhavan maraivadillai.
Aanaigal vittae yaar thaduthaalum alai kadal oyvadillai..."
What a wonderful song!
Sir whenever I am in depression I listen this song.
“…and this journey will end to its "logical conclusion only"”
Theerkka tharisanamana vaarthigal.
@mynac
i cannot frgt mangoose shrts..
thanks for ur reply sir...
I kept my fingure cross and also wish that nifty cross 4955
@ilango sir,
Beginner read of tech table. A day close above 4950 ( day high EMA ) will be good for bulls - upward momentum. Day close below 4916 ( prev day 5ema ) is bearish. Right sir ?
Thanks
gd
Shanghai +35
Nikkei +117.06
Hang Seng +143.82
FTSE 100 +20
DOW 10064 +108
Germany +23
Looks that europe will open in green
SIL
@all,
This I read some moments ago in a blog...Good for a laugh...
"At the bank, an Asian lady is trying to exchange yen for dollars.
It was obvious she was a little irritated . . . She asked the teller,
“Yesterday, I get two hunat dolla fo yen. Today I only get hunat eighty? Why it change?”
The teller shrugged his shoulders and said, “Fluctuations.”
The Asian lady replies, “Fluc you white people too”.
Enjoy !!
ankur,
My 2 cents on ur blog. Good beginning. Try to put the main comments on the chart itself. Also text and ads all together is confusing. Maybe some color to distingush the main areas ( like here ) could help. Chart size should be adjusted smaller. Content wise, try to give somethign different than what is available to most ( indicators are there ). Maybe an indicator like PPO can help if you can get it.
Good start.
gd
@ sandy,
It is based on "OB" short term reading as well as an EW possibility.
"If A is success in life, then A equals x plus y plus z. Work is x; y is play; and z is keeping your mouth shut."
- Albert Einstein
Try to follow "If you can not contribute shut up".
A Silent follower of this blog...
regards
@golfdude,
Thanks ...would need all of you guys' attention to make it better...
Thanks again...
shikhar
:)
Hi Guys Good Morning i found a new charting technique know as Kanji as Illango sir and many well decorated TA's are here so i am posting the link of that post http://www.brameshtechanalysis.com/index.php/2010/05/kaj/
Well give ur feed backs and comments on this new charting technique I have tested it and results looks good
Rgds,
Bramesh
key terms for u friends....
Rollover:
When a future contract of an Index or stock is near the expiry and one wants to carry over the position(long/short) he/she has to close the position in that (current) expiry and form a fresh position (long/short) in the next
months future contract. This covering of the open position in near month and simultaneously forming fresh position
in next month is known as rollover. It is calculated using the formula:- (next month OI + far month OI)/Total futures OI of all three series
IV:
Implied Volatility (IV) is the expectation of volatility or price movement in the underlying (index or stock) implied
by the price of Options of that particular underlying. It can also be called an indicator of level of confidence or
certainty regarding the underlying at any given point of time. The higher the IV higher the uncertainty in the stock or
index and vice versa. Also, higher the implied volatility of the underlying, higher the premium will be of its option. In
general, IV increases when the market is bearish and decreases when the market is bullish. This is due to the
common belief that bearish markets are more risky than bullish markets.
thanks
hi anil,
thanks for the nuggets
Sir ,
i closed my long and went short @4965 NS..
what stop loss should i keep??? as 9 H.RSI is already overbought..!!!!!!
Both FTSE and CAC are above 60points..
SIL
@ALL,
Nifty moving along upper Bollinger band...Strong trend...Bears are at Bay for now..
@ankur
can u give those lvls
@Anil,
" bearish markets are more risky than bullish markets."
yes, fear is more powerful than greed. That's why i
created one system based on emotion what i called
"exploitation of emotion"
RG is missing for long time.
"Baby Bull" has reached the quantitative analysis' first target "4968" as per the EOD view.
The second target is 5012.
Whether there will be a correction here...before attempting the 2nd target..?
@market follower
good..if u had one that captures emotions...certainly helps in taking views...
..keep posting ur interpretations of the same...
Sir, whats 200 DMA now
@prashant 4999
Hi Ilango,
If there is a correction what would be the target?
Thanks
Hi UKR - Very much here. (in "veri") didn't want to foul mouth any Uninvited Angry Crook.
@Rajagopal
LOL. You have shown great restraint today. Obviously Ilango Sir's nature is rubbing off on you. :)
@ dare,
You have made some excellent trades.
The SL will be day's high, of course.
See whether it holds 4940-4950 zone..
@Wormwood
I have given levels on my blog..Please visit and find Intraday Post 1
prashant 4999
Dear Rajagopal,
Nice to here your voice after a long silence.
Dear Mynac, nifty nearing 200 dma, so u thinking of shorting???
Thanks
rm You are right. Otherwise RG is the very first person.
thanks ANKUR
I would think nearest to 4970 and onwards,because almost 500000 O.I.addition is already there so as per my thumb rule it is almost enough, means FOR ME more or less this should be almost final range for NF.At present this is a very BOLD statement I know.
It should be 50,00000.
Ilango sir, plz give levels for conservatives who dont hav any position
.Sud we now go long near 4865-80 or short near 200dma or 2nd target??
Thanks
Sir,
This is only because of ur guidance and ur excel sheet magic...
today i openly written my trade to show that ur guidence & ur excel sheet is really helpful to the ONE who just want u to show down in the morning.....
@ bizagra,
This is presently viewed as a corrective rally for the entire fall from 5400 to 4786.
Trading is better. Those who carried longs from yesterday can keep it with a Sl of 4845.
One round of profit booking @ first target would have been good.
One should wait to enter longs in 4885 to 4910 zone.
Thanks Ilango sir.
Sir
u expect 4910 lvl 2 dy
RG
Your Axis STBT turns BTST and rocked &passed the projections
How you have missed the BTST
Bala
@ manu,
I expected initially 4940-4950 for "dare" and that itself has not come yet.
The buy levels suggested are ideal supports which are rising as time goes by.
Being in a volatile mkt, one should have all numbers handy to act.
Ilango sir, if we close below 5ema today, will it say
abc-x-abc scenario going on and if closes above abcde complete
and corrective upmove of complete down wave going on??
Can we think like this??
hi llango sir and all blog friends.... want to share trade nifty 1 st day aftar expiree -- expiree in upla like june series wrote down today close of june series --- if tomorow open up then buy sl of expiree close and if going down then sell and sl of expiree--- remmbar expiree close work for months for long trade ... so just watch it and try it== its call HAWALA ... IF ANY MISTAKE IN SPELL PLE TELL ME M WEAK IN ENGLISH -- THANXS REGARDS --PRASHANT MEHATA -- WORKING WITH SHAREKHAN DEALING ..
Thanks, Prashanth.
Will keep this point going ahead.
@ bizagra,
Being in a corrective upmove(as the last fall from 5029 to 4786 that took 10 hours has not been retraced in shorter time), it is better to keep the "Low ema" as a decider as Nifty could move around the ema(close)..
@ dare,
"4949.80" low made and reversed..
yes sir,,,,,,
i booked @ 4953
BALA said...
RG
Your Axis STBT turns BTST and rocked &passed the projections
How you have missed the BTST
==
Yes Bala. By closing below Midpoint and 5EMA Axis became a STBT candidate. I was holding from 1164 Long after exiting Short from 1186. I was confused. Thought will give Vix Low as SL. With reconvery in Banking, it turned out to be a good wait.
sir but afraiding to go long... and still want to go short near 4965-70 level...
ur advice????
@ prashant/sir
i didnt get..simplify..i m a bit dumb:)
Bala - At least I can claim that I publish the STBT/BTST list independent of my own trade - just as thrown out by the Price and Indicators.
@ dare,
Intra chart is pointing still down. 4940-4950 is what I still look to for supports.
RG Sir
I a novice .and you and Illango are being great analysist, like us people expect more guidance
Will you please combine this VX with your evening excell sheet in which you have clearly mentioned that trend reversal and oversold condions and post BTST/STBT etc
By the by without shares how to do STBT
All most all the broakerages are telling to go short 1165 levels (ICICI direct told to day @ 10.30 hrs) Market is supreme.
Hats of your analyisis. Why dont you publish your great trades of to day
Bala
today may serios end and june series start and also so tomorow onwards june seri open up so watch the closeing of june and wrote down in book.. its working like pivot point of june serious remembar close (27-05-2010) ... suppose today close of june 4960... and OI OF 3 CR SHARES .. IF NIFTY OPEN UP 20 POINT THEN BUY AND SL IS CLOSE OF 27-05-2010 JUNE SERIOUS ... SO WHEN EVER NIFTY ABOVE 4960 ITS BULL AND BELOW 4960 IS BEAR ==WORKING IN JUNE SERIS ONLY .. I HOPE K U ALL UNDERSTAND WHAT M I TRYING TO SAY AND SORRY FOR LONG MESSAGE... THANXS REGARDS ... ITS BASIC WORKING FOR LONG TRADE LIKE 1 MONTHS TILL THE EXPRI END ..
thnx prashant
@prashant How closing of june come on 27-5-2010 i suppose you are wrong in writting You can writeMAY CLOSING instead OF JUNE CLOSING
NEW POST DONE.
Thanks Prashant Shah.
LLANGO SIR AND ALL MY FRIENDS ... other key working of Rsi Magic === Rsi 14 days ... like nifty close 4563 on nov 3 2009 ..and Rsi was 25 points .. and than aftar mkt jump too 5000 on a nov 24 20009 ...examp 2 ... 4718 close on a feb5 2010. and Rsi was 29. and than aftar mkt bounce to 5262... expam 3 ... nifty 4806 on may 25 2010 Rsi was 29.. now nifty trade 4960-4970 .. so my idea is when ever Rsi below 30 mkt is bottom ..thannxs Regards
@ Prashant shah,
Very valid presentation.
Very useful to those who would like to do a relaxed "positional play" with stocks and indices and still make very good returns.
Thank you.
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