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 ...
62 comments:
Is it a good time to short nifty @5056
@all,
And Nifty breaks 5050 convincingly...5091 is next..
Well said Aar Vee,we all here in a continuous learning process.
Hi HERO RG,
How are the things going?
saw ur post ,looks like people are trading my bets,will have to stop this habit of disclosing trades acquired recently(under the influence of recent wave of salesmen selling their products here ).People taking me as one of them .
This was my first trading criticism(I thank 'rs' for that) ,how should i take it ,am i being elevated to ur esteemed company ?(till now i thought nobody is interested in me)
Looks like ur influence is larger ,people leaving TA and learning nursery rhymes
RV ,Villain(self confessed)
Dear Ankur
Shall I short nifty now at what level I should short Nifty ?
@raghav,
I told you I am long in Nifty from 4786. I bought 5200 Calls when people were talking of 4500. I do not want you to lose money by going against the trend without any definate indication. Wait until the Nifty breaks the channel that it is moving in. You could have gone long yesterday when I told you.
Dear RV,
What can stop the THUNDER? If criticisms must stop constructive action, We may not have an Ilango to learn from. As the master himself takes it, let's we students resolve to accept criticisms as manure to our knowledge plant. Never stop contributing. I now respect mok's objection of publishing the TA Table without disclaimer.
Don't stop RV. Roar More Lion. RS will also learn to use the TA and will profit from it. It is a transition period for him. Best of luck RS.
I can email you AB 5.3 pro
Dear Ilango..
Shorted at NS 5065 as per your earlier msg of possible resistances of 5055-5070.. where should i cover this position..
please advice..
SIL
send me an email gautam108@gmail.com
C'on AarVee...don't get carried away by one wrong interpretation.There are many who bilieve not only in you but in many TA Gurus here alongwith our TA MahaaGuru..Ilango sir.Continue ur worthy inputs.
Mr. Ankurbbhatt
Good Going Sirji
Pawan, Yahan Sydney me raat ke 7 baje hai... Still a good afternoon to you in India.
@ SuchisLife,
Keep day's high as SL and wait for 30 - 45 minutes for 5030-5040 zone and close it.
Thanks Ilango Sir..
Will close my shorts in the range 5030-40 mentioned.. with day high as SL..
Regards
SIL
hey RG,Amirishali
Thanks for the concern showed ,on the contrary, i am basking in the glory of criticism and baking more TA
Hai everyone
Nifty 5 minutes chart updated
http://tradeinniftyonly.blogspot.com/2010/05/nifty-intraday-update-iii_28.html#comments
thank you
banknifty vroom
Dear RV
Right decision.
Negation of negation.
San..
wrong link??
:-)
5090.. Hourly chart resistance.
5092 - 50% of 5400-4786
Negative divergence in Nifty
@raja Sir
just saw your comments on tata motors. I wish you get good profits in this trade. MACD crossover can take the stock above 800. Hold on but with trailing stop loss.
Mr. Ankurbbhatt
Yahan Rajasthan main Dopahar ke 2.30 baje hai aur Jaise Nifty Nahi ruk rahi hai waise hi Garmi Bhi Nahi Ruk Rahi Hai
Pawan,
Hmm...Hamare yahan 17 degree temp hai. Suna hai udhar 50 deg. hai..
pawan/ankur: then to aag lagado...i wont mind us testing 5120 today :)
@Rishi..
Bhaiya Nifty almost 250 point daud chuki hai...Thak gayi hogi.... Aaram karne do ek do din... :)
Yahan 49 degree temp. hai and Andhi bhi jabardast hai, but I am in my AC office and Temp is 25
Equity signalling upward movement (BTST)
Scrip Name HIGH-Rs
ABB 913.46
AXISBANK 1251.79
BHEL 2347.98
CIPLA 326.05
DLF 287.84
GUJAMBUJA 111.66
HCLTECH 387.80
HDFC 2830.75
HEROHONDA 1946.42
ICICIBANK 889.87
ITC 286.49
M&M 560.38
MARUTIUD 1249.69
NALCO 417.15
NTPC 203.50
ONGC 1162.16
RELICOMM 149.12
RIL 1055.29
SAIL 212.36
SBI 2293.85
SIEMENS 725.25
STERLITE 704.20
SUZENER 62.73
TCSCONS 764.86
UNITECH 76.58
Taken at NS +62. Please refer to tech table for status.
Mr. Ankurbbhatt
I m long in NF from 4891 and hold till date. Long as per Day Low EMA crossing by NF. PLay the Level and mast rahne ka
For the Brave hearts - STBT
Scrip Name LOW-Rs
BHARTI 255.08
GRASIM 1754.54
IDEA 48.48
RELCAP 633.08
Conditions apply.
@Pawan
Good ...Congrats...
Yes San. Nano decided to remain unanimous in my TA today for BTST. He can make a dash. Will hold it - bottom picking.
Dear Ankurbbhatt
All due to strategy of Ilango sir
Turnover so dull in f&o...
cash - 10,900cr
f&o - 59,800 cr
till now
@pawan,
I don't know Ilango's style of trading..but will have a look when I am not trading means on sidelines....All of you are praising it...It should be really good....
@ suchisLife,
Exit shorts as time expired..
@ anil ,
Thanks for that. Rise on low volumes and sluggish rise. Two reasons for Monday to be weak... We might reach 5050 again.....I mean if we close at 5100..which I hope we can...
Yes Ilango sir..
Exited shorts, thank you for followup
SIL
@all..
Sorry forgot to mention rising gap of discount in front month Nifty future..about 25 pt. disc. now..
@TOT-AMIT
have been posting since yesterday night not slept till now. Thats why things seems to be going wrong.
5 minutes range has broken now
http://niftychartsandpatterns.blogspot.com/2010/05/5-minutes-range-breaks-out.html
thank you
dear ilango, based on this over bought situation and 24
point disount nifty fut, could i buy 5000 put for positionally?
Hello Ilango sir & all blogmates....was away for few weeks & missed all the action.
Just checked....views seems to be bullish so far....but why the market is trading in so much disc. (approx 27pts.). Does this means that bears are still convinced that the pullback is just a corrective rally or something else?
San (Paithiyama?) - take it easy mate.(posting since...)
Hi,
Why is there such a deep discount in NF?
Is there any reason for it in TA?
Can anyone explain please??
thanks
Shazia
hi
dear sir ilango,
if bank nifty close abv 9300 ,h&s pattern failed or not
plz give me suggestion keep in sell or buy ?
regards,
alpesh
@raja sir
Became mad because of S&P, DOW and NASDAQ and the us visitors who are interested in simple technical charts. I am enjoying this.
thank you
BNF is also having 100 points discount
The "Overbought" Hourly TA could easily give a gap down on Monday if world mkts end negative.
Such a step is "aggressive" and "in anticpation" and not a follow up by TA.
"Profit booking is alright and Market can not run away with such a short term set up.
Holding Longs: Part book.
Holding shorts @ 5000 to 5050, Hold it.
No positions: Aggressive - Take a small short.
.............Conservative - Take a break.
That is a break from Tradition Sir.
So nice,valueble and helpful. Thank you.
Your call is for STBT?
Approx 30 lacs added in OI in NF so far...with 5100CE (nearly 54 lacs) & 4800PE (nearly 52 lacs) having the highest OI so far.
" This is not a right approach" - so asking the "conservative" guys to stay neutral.
Aggressive sell is basically due to "short term negative divergence".
@ Manni,
Thank you so much..
this is a great one, sir, thanks
have a nice weekend
turnover
cash - 12,600 cr
f&o - 66.300 cr
Thanks a lot Ilango!
This would help immensely for learners like me.
The discount - could be due to "dividends, etc." - some reader has pointed out earlier.
@Ilango Sir: Thank you for your timely advice
SIL
@Ilango sir
Please dont say thanks....you are doing a far greater job....we are all ur students learning from you.
past 2-3 weeks were really interesting....sadly missed all d action....will join d fun from monday.
Happy weekend to all.....take care :)
sir
thanks for the 3.20 update
'this not the right approach'
yes sir probably because all good things
r illegal,banned,expensive or belong to somebody else.
ilango sir,
BN opened at 9285.95
went up to 9383.95
and
wend down to 9215.60
and closed at 9290.15
Open and closed almost remained same.....
What does it indicate......
uncertain trend.....?
-arpit
How does nifty discount predicts the status of market.
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