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 ...
26 comments:
I told yesterday evening that nifty will have gap down opening tomorrow. Now see the european market , they are down more than 1-1.5%. So tomorrow bulls will be killed.
I am new kid here, so nobody may have noticed me.
ilango sir,
where do i start to create tech table for s&p, nasdaq ?
Thanks
gd
SGX nifty is trading at 4881 levels!!!!
Ilango sir,
Can you explain about the bull trap?? How to distinguish
between a geniune +ve divergence and a bull trap? Previously you said that -ve Divergence doesnt hold good in 3rd wave in EW. Similarly is there any way to distinguish? Please clarify
nifty is forming falling wedge,positive
FII SELL 657
DII BUY 721
RG..COUNTER ATTACK by DII..FIRST TIME..
WHN NIFTY IS UNDER 4990(200DMA)..
POINT TO BE NOTED MY LORD..
@ iitian , this is stock market ,anything can happen here.Tomm all stock markets may decide to ban short sales and then market may rocket up for couple of days. Has happened before.
I am one guy who has been saying the market will fall like rain lekin , i dont know how I ended up buying Educomp,HDIL,EKC and TITAN all on todays highs.I am dead tommorow.
Sir - mail.
Due to electricity failure and lack of confidence and concentration I couldn't highlight that almost 49/50 have given down signal and many have OS in day. It would have given a mute warning that the Day level OS may attract some BUY - is it what happened today?
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Today's EOD suggests many moving into a Not Decided zone from the OS zone. Some do have OS - please explore with care.
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Learned Counsel - noted. One major DII seems to be Insurance Big Daddy who is accumulating Banking Big Daddy. May be Daddy's day out tommorrow?
Piyush who can afford to raise interest rates when Sovereign themeselves are broke and incase you trade on the statistics by US govt one surely would go broke... So dont think for a moment there is mild inflation in US.... one decides if one has to save economy or currency...
Hai everyone
nifty 5 minutes chart shows triangle which has broken on the down side.
http://niftychartsandpatterns.blogspot.com/2010/05/triangle-in-nifty-5-minutes-has-broken.html
thank you
@fritzy
you seems to have already formed opinion and then trying to justify from reference whereas i simply go by basics of monetary economics.
1. Yes...gold as a commodity will rise continously. If you the 10 year chart, it will show continous rise but it is always be and will remain as natural inflation adjuster. It is basic theory. Now you said, it is only in india where the real interest rate is high...
gold fetches same price across all markets and the difference in price may be due to exchange rate conversion where the relative inflation is adjusted...so it is baseless assumption of whoever says so.
2. The current decade is going to witness huge money supply as india and china is going to pump...have you ever seen RBI pumping money except in recent times of recession. Never. on the contrary whenever M3 reaches till over 18%, it becomes alert and immediately opens its OMO window, Increase in Reserve requirements, selective credit controls and credit squeeze..Otherwise the money supply India witnessed in the last decade cld've easily taken india towards high inflation...Thank god we have some wise counsels sitting in the committee..
3. Regarding change in monetisation policy, i do agree why should they tell the public...but am sure if you are a strewd monetary economist, you can always predict which way thinking is going on.
4. Forget about change in monetisation policy, the other day Newyork Fed Reserve has predicted Recession for US in 12 months time based on empiricial evidence of shift in short term and long term yield curve...where is the time for them to think of change..
5. On western money flowing in...check with all emerging market bankers, they will tell different story...now reverse flow is happening. It is basic theory when your own currency is in turmoil and depreciation, it is safe to bring back at best rate to protect capital...otherwise depreciation alone will shave of everything.
6. finally all this are due to free float and that way, china and india are best money managers who are very conservative and i dont envisage any problem in the current decade..
sri
@RG
Insurance big daddy buying Banking big daddy...can we guess something here?
@fritz,
nobody ever wants to raise interest rates, they have to
raise by compulsion.
the debt of US is in USD unlike other countries which
is why it is the world's problem
euro is in problem, china exports to US,JPY has a problem
of debt, so no such alternative in hurry.
no central banker on this earth wants to go back to gold
standard. it will curtail the economic growth.gold production
stagnating anyway.
@san
looking at world markets u may be right,
1) u can redraw the triangle, i have seen lot of trinngle
breakouts for redrawn traingles
2) there can be a rectangle in making
Correct Piyush - Gold production is stagnating - it would be a floating band wrt gold price and SDR.... Gold standard is not the sol... I never mentioned Gold standard.... I said somehow it would be connected...
@piyush
you are right triangles are known to give lots of false
break outs before deciding which way it wants to break out.
about the rectangle it is in the making and need some more
price action before it can be confirmed.
thank you
An Obs - As a risk aversion trade - leading indicator - USD/ NZD and USD/ CHF are very good in indicating risk acceptance or aversion... this is because vis a vis other currencies their float is rather less = more so in case of NZD... Obs is of a Gentleman i know - I dont take the credit for it...
@ ALL
Black Friday seems to be here. Dow down over 200 points.
Sgx had made a low of 4821 still trading near 4840.
Dooms day followed by dooms day..... CHEERS
@ GB
Good to hear about your dad man...
2 good news at same time.
@ Illango Sir & RG
Should we expect nifty to break 4800 level????
Sir any Idea about nifty spot till this expiry..???
5100 levels or below 4800...???
@ Satheesh - SGX is low volume and more in operator's hand.. We can't follow it..you observe when our market opens it will follow us only or only a little bit different that's all. We can't 100% believe in that.
@ RG sir - Regarding GRT I am not talking about the person...about the quality of the GOLD.
Thanks and regards
@ iLango sir.,
pls post bank nifty target and analysis. I am short in it with May series Put option. so would like to come out at appropriate target. I have seen your earlier analysis mention abt 8550 level. if i need to hold my put till expiry or come out.
Narasing
Hai everyone
NIFTY DESCENDING BROADENING WEDGE Support comes around 4850.
The triangle in 5 minutes also targeting the same area.
http://niftychartsandpatterns.blogspot.com/2010/05/nifty-descending-broadening-wedge-in.html
thank you
how much money you had made using your analysis?
@narsing,
If you are in Bank Nifty puts i suggest not to wait till expiry date.
Better to close your position by Monday/Tuesday irrespective of BN going to 8550 levels. I am sure you will be in good profits and don't allow time decay to eat away your profits.
It had been looking like a trap from around 2:00 pm when the price shot up and wouldn't let the intraday longs to close by 2:30 (which is presumably when most brokerage firms close intraday).
Looked like it was preparing for a gap down tomorrow. But I wasn't very confident of the observation so didn't say anything.
lol @lazydude, you sound just like me.:) I've done the same many times (not this time though).
What's the famous old trader saying: "You can make a small fortune on the stock market ... if you start with a big one.";)
Take heart that the bounce isn't far away. If not tomorrow by settlement, then Mon, Tue for sure. It's so close to having met all the downward targets.
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