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:
"It seems "No one" seem to follow the Tech. table that I have been uploading."
First time you spoke like the teacher you are. If it is someone else I know, he would have linked the down loading part as BRIDGE to enter the blog.
next journey is towards high ema & S1@5045/5050
RG,
pottu kodukkireengala,
class ukku veliyae vanthakka
kavanichippom ...
:)
:(
Dear Ilango
People like me r silent followers of your blog and charts.
God bless you n your family.
Sir,
I dont understand. Beggers like us scrupluously following not only yours but all others with (profit)
Thanks
Teacher is complaining and students are asking for excuses :)
ilango sir,
at what level can the shorts be initiated again sir. Plz advise.
regards
Illango sir bought Nf @ +ve divergence can hold for
Monday or squre off today?
Plz also sugest sl.
AS I also having Yesterday longs,Where to book Nf
As far as i have learnt from here no long sud be carried
below 5072 closing.
@ Manu,
Yes GS is GoldMan Sacs. Like Reliance here it is a
leading indicator to US market.
Check this post from Shai a few days back :
http://vtrender.blogspot.com/2010/05/quick-update-on-mp-levels.html
Mkt is holding low ema, thats good for the bulls.
25% Retracement resistance ( of fall from 5297 to 4983) coming at
5061
50% retracement (of rise from 4672-5399) @ 5035
daily s1 - 5047
so it looks like, as it holds hourly low ema, bulls vl try to take nearer to daily pivot 5082(5060-5080)..
lets see, if how it goes!
@Bizagra!
I think you missed my post (Previous page) to you.
Sir,
it seems that a broadening triangle or reverse H&S is developing in the 5 min. chart of NF with neckline currently at 5045-46. provided 5001 is not violated, a move above this neckline could give a short upmove. is this observation correct?
Thanks,
There could be a sideways trading in the zone of 4960 to 5100/5135. After which another round of selling should commence.
What happened to US markets is just a prelude to something big.. It just couldn't have happened without weak internals.
Mok - illae illae.
Good Afternoon Everybody
thanks sir,
made some RG style small points based on Hr emas,
now will wait for your indication ...
@ RG
:)
@Prabhakar
Yes i m doing only conservative trades, some times trade
intraday also as they can be converted to conservative by seeing
closing(emas), like today went long and sl hit.Now with no position.
Can I go long in NF as a positional trade here with SL4960 SL?
Thank you
Good accretion in 5000 put OI gives good support in near term
4900 Put also added good OI
we need to watch 5000 CALL oi sharply is their any OI unwinding seen or not, vl tell what participants r expecting in time to come..
10.7% OI addition in NF with COC still negative whole day, indicating some shorts r their in the system, for these shorts 5260-5280 must b their stop losss levels.
Thank you Mr.Bizagara. I have no position right now.
@Prabhakar
I dont think that is a good idea, technicals are very weak
as far as little i hav learnt.
@ bimon,
Your observation is very correct and remember it is an intraday time scale.. I would say holding NS 5014 and if moves past 5046, the desired target would be 5105.
Thank you Mr.Bizagra. Waiting for Sir's advice.
llango sir and all blog friends... sir can we tell me what is the 14 dday rsi rite now --m asking about nifty ... REGARDS..
Can somebody confirm fibo levels for nifty -
50% - 5035
61.8% - 4950
Not holding 5035, next support is 4950 ?
thx
gd
5400 5229 5123 5038 4952 4846 4675 fibo NS
@ Prashant,
14 day Rsi is 33.31 right now.
@ Golfdude,
Your fibo. calculation is correct.
Dear Friends,
18 counters selected/given for STBT. All reached/surpassed the target.
Thank you Ilango for the knowledge.
Scrip Name Target Actual
ABB 680.90 669.15
ACC 864.67 852.00
AXISBANK 1214.87 1182.20
BHARTI 286.98 285.20
BHEL 2387.89 2350.00
CAIRN 286.67 279.05
DLF 292.37 282.65
GUJAMBUJA 110.22 103.80
HDFC 2709.63 2690.50
HDFCBANK 1873.08 1836.00
INFOSYS 2626.71 2607.05
NTPC 202.08 202.00
RELICOMM 154.51 149.35
RIL 992.02 976.00
RPOWER 151.31 135.30
SIEMENS 652.84 620.60
TATAMOTORS 794.97 763.00
TATAPOW 1285.39 1264.00
WIPRO 649.80 631.00
Dear rg sir,
tata motors 6.30%down today
RG
anyBTST to day ??
Bala
sir..
gnrly i hv seen whn ever Eu opens ..the movmnt in those mrkts is
parallel to nifty movmnts..unless local news..
so wht shld v keep n mind..price r EU r dow fut..
llango sir...thanxs a lot :)
@ manu
can you check DOW future on igmarket and tell plz.
Dear Ilango sir..
as mentioned NS is hovering around 5014 levels... is the value same NS 5014 to hold for LONGS
please advice
sreeram
@ mok
it is 4 points +
http://www.igmarkets.co.uk/cfd/
As i said this morning. i HAVE taken risk and bought wipro for 634 rs. strong support area is 620-630. i am expecting a bounce upto maxm 680 rs.
the stock is already bouncing from that support
@ Bala,
If a scrip or Index is down trend, avoid BTST unless there is a compelling "bottom formation" with a sharp price reversal with + ve div.
@ Manu,
Only knowing those world market's TA would be of some help as in "8 Hours" so much can happen in the world markets.
Following our TA is more than enough. Big falls have happened when TA showed down and similarly big rises too have happened when TA showed Uptrend.
My critic says...Once the downtrend is on, simply hold your shorts. If you want to trade, then book out in the morning dip and resell at every 50 to 100 point rise from the lows and hold as all kinds of supports get broken like all kind of resistances are blown away during uptrend.
Sir
I look at your tech table but i do not have any confidence to take action by looking at that. only when you confirm an y views i get, i take steps to buy/sell.
what is this. nifty futures is having premium now.
@ manu,
thanks,
so its to be taken as uncertainty ...for now.
@ sir,
can we carry any position over weekend,
or should we square off, sir ?
thanks sir,
my question criss crossed your answer to manu et al
STBT
Scrip Name Target
ABB 660.84
AXISBANK 1167.86
BHARTI 281.82
DLF 279.92
GAIL 413.41
GRASIM 2532.59
HCLTECH 377.49
HDFCBANK 1822.19
ICICIBANK 862.61
IDEA 60.55
INFOSYS 2581.11
NTPC 201.04
REL 964.02
RELCAP 677.04
RPOWER 139.42
SBI 2209.12
STERLITE 701.16
SUNPHARM 1506.44
SUZENER 66.61
TATAMOTORS 747.18
TATAPOW 1263.83
TCSCONS 729.46
TISCO 547.31
UNITECH 71.47
WIPRO 622.55
BTST
Scrip Name Target
HLL 238.75
ONGC 1058.54
Can anyone throw some light on sugar sector, specially balrampur chini..
hi ilango sir
whats yr view in bank nifty can i steel stay in short or cover at htis stage?
plz give suggestion
regards,
alpesh
@ Mok,
It could go either way...What you are asking is for a very short term scenario and there are a few to choose from.
It is now your call.
Positional shorts created @ higher levels continue. Those who booked profits may resell @ 5100 to 5150 zone.
Dear Ilango Sir;
Right now i do not have any open positions;
Can i take a SHORT position in NF and hold it for next week or should i stay away as of now;
Please advice;
Sreeram
Ilango Sir,
Where can I resell Nifty Future? can I wait for 5100/5135 levels?
Thank you
Sir, i shorted one nifty lot today at 4985.do u
recommend carrying and shorting one more lot by end
of today, since you strongly feel down trend is in
tact ? Pl advise..
Bala - two given above. Keep Ilango's view in mind. +ve divergence is there and ONGC performed today. Please be careful with BTST - your broking firm must facilitate that. Some reverse the sale in the ledger and you will find the stock back in your a/c at a loss.
You must be aware - just repeating.
Dear Ilango sir.
Got my answer from your reply to MOK..
Regards
Sreeram
ilango sir by looking at the hourly chart do u think there is any chance of upmove on monday
hi ilango sir
whats yr view in bank nifty can i steel stay in short or cover at htis stage?
plz give suggestion
regards,
alpesh
sir,
thanks,
i am holding the positional shorts
will add at 5100 5150
Thank you Sir. I got answer
@ KGovind,
Rajagopal has given Wipro for STBT.
@ alpesh,
If you have booked out near the target zone., stay without any positions. If you are holding the shorts still, continue to hold as prices are trading near the lows.
s,
Sir will never recommend shorting so close to support. He has already said best oplace is going to be 5100-5150 area,
hi GB
in the morning i told you that my intution says 5043 will atleast be high. See exactly that one is there. On lower side your intution was very strong and it happened just like that and on higher side mine one works.
RG
Thanks for responding
How you have identified this two as BTST in a downtrend market
I think everyone should have the premarket levels for trading.
Low came close to 4980. And the first resistance too came close to 5055.
Other than this, we should not take a position at any levels, then holding would be difficult.
5016 possible close avg
Bala - refer to the file for the reasons. You will find them
In fact these have performed today - I trade only on Over all Trend and hence ONGC entered this morning and got benefitted.
Sir
Thank you. I got out of wipro after your warning. made rs 2 profit.
cont..
Bala,
Purely trend for C/F trades. If the trend is down, confident with STBT if it is up BTST. Mixed no c/f unless compelling reasons available.(like RIL-RNRL today).
thanks sir,
RG, i could not find VIX for commodities,
other than generalized VIX for oil, gold for US.
bye all
Dear RG sir
Sir today i did my first trade and carried as per your advise/trade.......yesssss i am STBT for monday in WIPRO.......raksha kijiyega
regards
vikram
Will there be a "Mid Night Masala" today too. I missed it yesterday.
Bye Friends. Blessed to soak in this knowledge bliss.
Viren,AAR VEE,Sri,Mok - please put in atleast once a day appearance, as Minac takes pains to.
Please...
I find it disturbing to see SBI tank like this. Reliance is unreliable (pun intended:), but SBI was vital to the last rise. Surely an indicator of further downside in our mkts.
@ RG
we should be thankful to appear here,
thanks as always.
:)
BYE all
Thanx a lot Masters
Hats off to you all here
i love you all here
regards
vikram
llango sir and all blog friends .... is that any free software for TA (CHARTS) with all indicator ?? ple tell me ...thanxs ..REGARDS....
Today forum looked like..many professors sharing thoughts in a high profile seminar…so, students like me had to sit calm and listen..:) good day indeed
@RG, mid night session will be sure for today – if DOW jumps 500+ points either side
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