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....
-
5010-5039 supply zone proved a ST resistance. 5002 proved a break down point. 4945 to 4982 proved a corrective rise, monitored with an ...
64 comments:
kabaddi kabaddi kabaddi kabaddi kabaddi kabaddi
PS:
Looks like it is a doctored pitch for bowler Mr Friday 2.30?
Dear Ilango sir..
Is this bounce back targetting NS 5160?? Can we SHORT at those levels as i cover my shorts at 5135..
please advice
sreeram
rgsir,
shud be negative but ta pointing un in 5 min
see..how my simple indicator works:)
see the traffic in blog and we lost 50 odd points :)
Hi Ilango,
Nifty has found support at 5130 levels. Will this now move up to 5160+ and reverse again from there?
I am holding 5200 and 5100 puts that i bought yesterday. I am not able to decide (sit tight on them) if i should give them away or hold for next week.
Will the down trend continue?
Thanks
Anybody any link to see Dow future as http://www.igmarkets.com.au/ not working.
Thanks
Nifty has bounced from oversold levels in the hourly
A pull back/ bounce/ corrective move is on targeting 5155(day ema) or 5160-5170 zone..
A close below 5155 would give more confidence to the bears to carry PUTS.
@ Shr,
Keep the PUTS.
@ Sreeram,
You may sell again - If for intraday, keep just 10 points SL.
@Ilango, Thank you sir. will carry the puts forward.
regards
Ilango sir, first down wave 5400--4900 (5 waves),
from 4900--5210 2nd wave(abc), now 3rd started from yest.
Sir when this count will get confirmed, i mean break of which
level will confirm this count.
Thanks
hourly macd also giving a sell
High chances to test low ema @ 5120
@ bizagra,
A 3 wave fall from 5400 to 4987.
A 3-wave rise is on from 4987.
One possibility is :3 wave rise from 4987 has ended at 5213 yesterday and the next fall has commenced and the confirmation would be a break of 4987.
Other possibility is: 1st wave 4987 to 5205;
2nd wave (or b wave, a complex one) is on...allowed upto 5080. and then the 3rd wave up towards 5225-5250..(Looking doubtful) and then the big fall to 4900-4800.
@Prashant!
"hourly macd also giving a sell" - how can we find this signal? any link?
@Ilango
Even I do what Prechter did...problem is that I sleep too long and give back my profits!!
I has happened so many times...Have a recorded lost in trading diary of near 35 K because of over sleeping
That's why switched to day trading..even if i over sleep ...broker square off the position automatically!!
Thanks sir got it.
@ Anuj,
:) :)
i lango sir
respite for longs @ 5120 as yesterday evening mentioned
@sir,
I believe next stop is 5115-5120
@ rochak,
Last low of 5090 to 5120 area is a minor support area..
Daily stochastics which indicates the "lead" is turning down if the close is close to the lower range. So "Staying short" is best unless a recovery is seen above 5160.
Rajaji,
Yesterday again a Doji in Bank Nifty after the upmove
Gravestone Doji
Recent low is 5099..
Arvind - rajaJI doesn't know 'doJI'. Will learn about it.
PS - 2.30 bowling well !!! Got his 20 wickets ?
thanks answering i lango sir
@ Prabhakar
MACD below the center line is considered bearish
yes rg sir ,
closed my intra shorts before carnage when ta pointed up
:-(
ilango sir can i cover my nifty short at 5177
Thank you Mr.Prashant
Hi everybody , iam silent follower of this blog. If any one intrested go short in LT with SL of 1550 spot for trg of 1430, H&S trg. thanks
STBT
Scrip Name LOW-Rs
ABB 667.60
BHEL 2348.03
CAIRN 285.32
CIPLA 308.18
DLF 293.91
GRASIM 2588.76
GUJAMBUJA 104.22
HEROHONDA 1856.94
HINDALCO 158.82
HLL 230.21
ICICIBANK 895.29
INFOSYS 2647.45
L&T 1524.89
MARUTIUD 1246.55
POWERGRID 105.25
REL 993.20
RELCAP 668.19
RELICOMM 142.46
RIL 1030.31
RPOWER 141.26
SAIL 204.11
SBI 2190.99
SIEMENS 650.63
STERLITE 686.33
SUZENER 64.70
TCSCONS 754.73
TISCO 534.31
UNITECH 75.00
WIPRO 655.38
BTST
Scrip Name HIGH-Rs
ACC 911.94
BPCL 561.24
HCLTECH 412.95
ITC 271.64
M&M 572.94
SUNPHARM 1619.27
Generated at NS - 63. Please check the TA Table for caution and volumes.
L&T CRACKS
Ilango Sir,
I have positiona short in NF . Can I book full profit at 5090/5095 NS? (if it comes)
@ Rahul,
"Shorts" are safe below 5155.
If you wish , you can part book here.
The daily tech. sell is generated today. Hold.
Hai everyone
Nifty gave short trade when it broke the trend line
in hourly chart today. I am posting the chart here
http://niftychartsandpatterns.blogspot.com/2010/05/nifty-hourly-chart-trend-line-break.html
thank you
Good Afternoon.
Thank you Sir.
illango sir i had book my nifty short at5096 thanks for your advice
hi mynac good afternoon
hi Dear wormwood34
At last market fell but beyond expectation.
I mean intraday's
Hi Mynac GA. Can you pls tell me some thing about yr system(if u want). I m
impressed by yr last night post in this blog.My id:agarwal_anuj50@yahoo.com.
I m a very basic learner.
Thanks
hi ilango sir,
bank nifty chennal broken so can i sell bank nifty at this stage?
regards,
alpesh
@ alpesh,
If you have not sold earlier looking at my post in "Stockwealth", ????
You made me analyse BN..
SELL.
Hello friends,
this type of move was expected after the triangle break down.
it was spotted yesterday and todays morning range made it more valid.
http://tradingontechnicals.blogspot.com/2010/05/nifty-update.html
Sir, if we assume that ABC correction completed @ 4987
in the daily, then this may be the second wave of the
upmove. IT has already breached 38% level @ 5112.
62.8 comes @5050, if that is breached, then this would
be the 5th of the downturn with target of 4850/70.
I favour the scenario of this being the fifth down. A new
low will be in place soon.
Dear bizagra,
I confess, that there is no any such a specific system which I use.Still I am also a learner,only the difference between you and me might be that I have spent many years in KG only.So only the base is getting stronger day by day due to only passing of years but the real knowledge is still far too away from me and I know it.Still try to understand and learn.The night posts are just my thoughts and not the exact predictions for the next day.
Ilango sir, as we say 3rd waves are fast and furious, it looks
like 3rd wave,and if it is 3rd ,as my friend Nirav says, it sud give
Gap downs.
Thanks Mynac for reply.Yr last night post was great.
It looks like the upmove wave has finished when it broke 5080 and we're back in the downtrend.
Sir, i have sent u the chart in support of the above argument
Dear bizagra,
Never the less I have noted down your mail id.Thanks. I will mail you.
Thanks Mynac.
Thank you All.
Mynac,PS,Anuj,rm - bye.
Thanks Dear Rajagopal and all blogmates,now waiting for week end story.Bye.
bye rg sir
Bye Rajagopal, PS. Looking forward to tomorrow's story.
hiiiiiiiiiiii
Bye all...:)
Dear bizagra,
If possible pl.send me gmail mail id.if any because yahoo.com is bouncing from gmail.mynac16@gmail.com
nice............
Post a Comment