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 ...
58 comments:
Dear Mynac,
Hope your support is pulling all thro. Take max time off and be with family. I am just coming back from an Almost triggered Stop Loss. Going to Tirupati (hope he calls) to Thank him. Will pray for you.
Dear Rajagopal,
Definitely.Thanks.
In the mean time new top for NF.
ilango sir as you said yesterday about bank nifty can i short it with sl of 9300
sir,
as per your charts in "stockwealth" blog about banknifty, it is said : "if it is pull back, it should limit to 9300-9325" Means can we go short at these level for conservative trade....?
-arpit
Dear Mr. Rajagopal
Are you from Chennai.
@mynac
nice to see u.
thanks arpitg345
SRYASD...Can't you feel my INTELLIGENCE? So I can only be from CHENNAI the Heaven.
(PS/Manu - drop the stone).
@ rahul,
looking to the uptrend I am confused and hence I asked whether to go for conservative short in BN at around 9325...or not..........?
-arpit
Rajagopal.. Fine I am from West Mambalam. You ?
Dear piyush sharda,
Thanks.
Bye everybody.
Sir and freinds buy abanoffshore and lic housing
Ilango
r those MP values in the table above correct?
my friend who uses MP gv 5000 4991 4982
Rg
in punjabi stone is called "batta"..
be carefull..nyways ur D made me
realize about law days fagging:)
HI Everybody!
Yesterday i suggested to Buy Nifty spot @4985-4990 around 3pm with stop loss of 4960 which was previous day's low. I booked 50% profit near 5100 & will try to buy in dip of 30-40 points. In my view Nifty is making Inverse head & shoulder formation on Hourly which is bullish so Nifty may reach easily 5150-5200 in 2-3 days. In lower side 5025-5035 will be strong support area & above 5125 strong buying momentum should come. My suggestion to all my friends who made loss due to high volatility, Be light, trade near support, be honest to ur stop loss and positive result will go in ur favour soon.
Rgrds,
KUMAR
@learningEW
Both MP values are correct - here it is for Nifty futures and your friend's levels are for Nifty spot.
Regards.
well rg sir,
1st part is absolutely correct i feel it everyday
Jayshah : Aban (I luv it) - is the news out? I expect the news at 900 levels only. It is on a Tech SELL today. Wish it zooms. LIC-Hsg what is your target?
sir,
Reposting....due to some disturbance in net....
as per your charts in "stockwealth" blog about banknifty, it is said : "if it is pull back, it should limit to 9300-9325" Means can we go short at these level for conservative trade....?
-arpit
trying some fibo-
5400-4786 fall
50% retracement 5093
61.8% 5168
50% conquered.
whether it can reach 61.8%,
day not yet extremely ob
the neckline of inhs can also be drawn at 5100-5110 levels
Sethu - Thank you. LIC Hsg is also restless for a break out. IDEA,LITL,Vijaya Bank ...Just to explore.
===
PS,Manu - At least I brought you out to say HI. Now u can throw the stone.
===
"5150-5200 in 2-3 days" Kumar Sir, my friend RV calls it "sticking ones neck out". I applaud your conviction.
@ Rahul, arpit,
Above the BN future chart, I have clearly stated that if BN future moves past 9250, it is a bullish break out. This is a new development that was noticed yesterday when it failed to continue the falls. The other level 9300-9325 was an earlier resistance but the same has come down to 9250.
sethu sir,
r u talking of gap 5134 5090 nf on 5/5??????
Dear Lakhan!
Don't ask this kind of childish question to Master, what he will said about every individual's position? He is giving levels, support & resistances. U must trade as per those levels and gradually ur dependecy will be less upon others. I hope u will not take it otherwise, take care dear, Sorry Ilango sir.
Rgrds,
KUMAR
RM
thanks
ILango
if we use Nifty spot values in the table for all then why not MP also.
mi missing some point?
Hai everyone
Nifty is trading near resistance area
http://niftychartsandpatterns.blogspot.com/2010/06/nifty-is-trading-near-resistance.html
thank you
@ learning EW,
It is quite simple.
MP is basically a price + volume based one. Spot do not have the volume but the future does and hence I have preferred MP for future index. For individual stocks with high volume, spot is O.K.
I will clarify it from tomorrow that those are NF.
Dear RG!
A pettern is a pattern, when it will fail v will follow that. But upto now its giving clear cut buy signal then how a person can neglect it, specially if one is trading on technical basis. If anybody would Buy here definately his conviction will be less but who bought yesterday at 4970-4980, he may enjoy the show in better way. Thanx for ur comments....
Rgrds,
KUMAR
Hi,
can anybody confirm me the Height of IH&S.. or post the chart??
I am not able to draw it properly.
thanks
Dear Mr. Elango
Shall I buy BN at 9252 this level with tgt 9350.
Kindly reply
Can see lot of +ve faces here today :)
Sethu - Holding with TSL. Thanks.
Kumar - As I said it is "Conviction" backed by TA reading. Sharing the knowledge is important - with a disclaimer.
Hai everyone
Some time the GAPS that are left unfilled may suggest a reversal is coming. And a gap in hourly chart is yet to be filled. I have updated an hourly chart with all the gaps we had from the 13th of may till today. All of them are filled except for two of them I am posting the chart here.
http://niftychartsandpatterns.blogspot.com/2010/06/gap-analysis-in-hourly-chart.html
thank you
Good morning ilango sir
What should be the stoploss for Banknifty long if taken now?
san,
you gave the link for this page itself ?
gd
@tot amit
for me it is coming 270 points
broken at 5100 can reach 5370,
lets c what market wants to do
@sethu
For a trader who trade in the hourly chart it is very relevant.
thank you
Good morning sir and all
Even though market has moved higher & PCR is more than 1.30, its still an options heavy market.
What's interesting is, for Third day running the Single stock option contracts on the FII front are increasing dramatically. FIIs buying $190 mn on Index Options to go with a buy figure of $85 mn on Stock Futures. Despite the market rallying yesterday it was noticed that the value of Futures transactions increased by Rs 1581 crore, but again the Options market dominated, with the value of Options transactions increasing by Rs 3682 crore.
Currently:
5300CE (Rs. 25.5)< 4700PE (Rs. 27)
5400CE (Rs. 9.8) = 4400PE (Rs. 9.2)
How to interpret this data??
Dear San!
Thanx for ur charts on Gap but remember always about RUNAWAY GAPS, when they start once its difficult to look back. Remember Pre-election gap is not filled upto now and one complete year has been passed. Thanx dear for ur efforts...
Rgrds,
KUMAR
just FYI
HNIs pledge MF holdings to repay debt, buy ‘fallen’ stocks
http://economictimes.indiatimes.com/markets/stocks/market-news/HNIs-pledge-MF-holdings-to-repay-debt-buy-fallen-stocks/articleshow/5996325.cms
And till now this seems to be a RUNAWAY GAP in hourly chart that was formed around the 4800 area. Although not on EOD basis as sethu was saying.
@PS,
my calculation is showing 250 points approx... but the break out point seems to be 5130 range.
target is same around 5380.
can you mail me the chart??
Sethu - Done. But I am in LT based on VIX tech table (remember the fancy excel file?) as BTST since y'day. But the pleasure is mine.
is it possible for intraday short now in NF?
Hello everyone,
Does anyone know how to get RT data from PIB to Amibroker...
Thanks,
teejay
Sethu - Europe is opening Gap Up. We may have +20 in NS. Just initiate an insurance Long also. Not challenging knowledge, just the speed breaker.(And Thursday 2.30 +ve - it never listens to me).
test
ilango sir in morning you said one can that short at 512o ns i had short at5097 can i hold if yes what sl should i take
Hai everyone
If one need to take a short trade they can try the levels i have mentioned in the 5 minutes chart here. I am posting the 5 minutes chart
http://niftychartsandpatterns.blogspot.com/2010/06/nifty-shorting-area.html
thank you
Me too entered in short for intra only @5099 sl 5120....is it ok to cover near 5060 levels..or before that
regards
vikram
NEW POST DONE.
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