ORB & MP set ups are for bullishly inclined.
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 ...
76 comments:
yoda,
your opinion confirmed above
@Manu,
For live prices you can use this site - http://www.cfdspros.com/indices/futures-indices
@sryasdmurali,
bazaartrend is the only one of those that gives a buy/sell signal in an arrow on two or more indicators, so you can see them pile up with trend.
I used to be very enamoured by Sameer's sco and pivot point charts http://www.niftyforum.com/?q=niftyintraday but if it trends in the opposite direction you're losing a bit.:)
@mok,
I usually find Ilango's observations work on a very long timeframe compared to any other blogger, like all EWers. When I did EW diligently, this was one very satisfying and frustrating thing - you're proved right in the long run, but everyone else got the first laugh in.:)
Even if the market pitches a bit on the wave, EW is usually right on target about the tsunami.
@ yoda
yes, the major moves if we can [though difficult with no much noise] ignore the minor blips, and look for longer run :) the returns will be more than too many trades.
@shr,
The link you have mentioned is v useful. Thanks
@mok,
yeah, but those 'minor blips' are 100 pts or more either way, so its stressful because we don't like to lose 10 pts on a stoploss.:)
Also its real time unlike others where the delay could be upto 15 mins
Conservative Shorts:
Revise S&R to 5040.
@ilango sir,
you talked yesterday about 5040 slowly coming down. Today it appears 5035 is acting as a barrier. This confirms with the falling wedge ( by san's chart also ). Your thoughts ?
Thanks
-- gd
Sir,
Thank you.
yoda,
probably if we keep 2 positions, the far series to take the tsunami, and near for waves .. :)
may get both ..?
@ gd,
Hour - Oversold.
Daily - Oversold as per Stochastics but not yet reversed.
Daily - Macd, the directional indicator is moving higher but still in the negative zone.
Prices are below "High ema" but not below low ema.
All these will add to uncertainity.
Dollar index is poised at the channel support @ 87.50. A break below this make commodities move higher as well as equities.
A sharp bounce bias is there.
hi ilango pls update of EUROUSD, All markets are trading based
on this only.what will happen in coming day on EUROUSD?
@ilango sir,
Thanks. WIll wait on the sidelines then.
-- gd
Good morning Ilango sir and all
Sir, Bank nifty seems to face a geed resistance at 9300 levels. If Bank nifty does not succeed in breaking the resistance then there are chances of Nifty falling to lower levels - am I right sir? will it not be prudent to watch both together? Please clarify
@mok,
It might work, but I don't know how. I'm terrible at hedging - my views are usually polarized to bullish or bearish at any given time.
Maybe using a short-term indicator for the near contract in the immediate direction and a far contract in the ew trend? You let me know if it works.
ilango sir,
your tech table is showing 10:00 AM low as 5016... is it right??
I suppose it shud be near to 5000/5005
pls confirm
Sir I am alos short Hugly
I kept your 5040 Ns as SAR.
I hope I will earn some from it.
@ Satheesh,
For bank Nifty << 9300 - 9225 >> are crucial and this might pre run Nifty.
Until this triangle is resolved either way, it is only everyone's perception that would be differing.
Take a well calculated bias or wait for the levels to break.
My critic quite inclined to a bullish view for the short term.
@ PRAKAASH
PLS FOLLOW THIS LINK
http://www.netdania.com/Products/live-streaming-currency-rates-foreign-exchange/real-time-quotes/QuoteList.aspx?m=q
Thank you sir. Taken your critics view also into my mind. Shall watch carefully.
Ilango sir, i reversed my position @5020.Now i m long.
Thanks
@Bizagra
Why hurry? He asked to do @NS5040
@ Babu,
He is an aggressive trader camouflaged in "Conservative disguise". Besides let him use his "Intuition" too.
@ yoda,
if u do a study it wud be more perfect since u wud also relate it to your earlier studies.
like, we can take conservative in th e far series, and the aggressive in near.
i dont know options and so hedging.
some have told me instead of hedging [which costs eachtime] better to SL at small loss and reenter.
:)
i do that since cant keep learning too many things ...
@babu
Yesterday, Mynac told that in last 5 min lot of nifty shorts
were squared by smart money. In S&P 5 down waves seems to be over.
Even GB sir, now saying exit shorts.So.........
yes, bizagra, don't let the talk sway you - its only past 5037 that all our bull will be proven anyway.:p
I don't know how many times I've changed my position in lulls like this and regretted it.
yes biz,
mynac has some unique strong valid observations,
that last minute covering was a good one
:)
Ilango sir, i m conservative trader camouflaged in "aggressive disguise"
:):):):)
@Mok, yoda, babu
Thanks for guidence.I m learning from u all.I m keeping small
sl for now.
Tata Steel at resistance again.
will it break this time and take Nifty along.
http://tradingontechnicals.blogspot.com/2010/06/tata-steel.html
Dear bizagra,
First of all congrats for your aggressive trade.Though at present market in a bullish mode still i am cautious,I shall watch pivot,R1,R2. let market unfold the scenario in coming hours for intraday traders.
Sure Sir, Just felt interest to know that what made him to take that decision. Coz only 20 points difference is there to exit short
@tota mit
even 469 is tough..double top
if breaks :)
Hi arpit,
It is free
Europe expected to down sharply today.. are you still confident that we will go up inspite of that?
Ilango sir, for now, keeping ORB low as SL.Is it alright?
Thanks
Dear mok,
As everyone from here knows that up to even 4900 there are strong supports at many TA has discussed here. The following was the comment prepared for today last night but some how have not posted but it was as following.Basically it was prepared for Premarket view i.e. before 9.00AM.It should not be taken as my verdict.
" Following shall be favorable for “BULLS”
1)Yesterday in last four minutes trade almost 11.25 NF quantities were squared off between 4996 to 5008 range.( Because at lest 60000 O.I. was reduced finally from the entire quantity)
2) Though there was an addition of 8.50lac O.I. in 5000 CE, the last trade 108.05 was above its WAP which was 106.19
3) Though there was an addition of just 5.69 lac O.I. in 5000 PE, the last trade 104.05 was below its WAP which was 107.88
Nifty lost the steam yesterday in between but, in spite of an intraday correction there were additions in O.I. from 4400 to 5000 PE and surprisingly (because it is still out of the money) there was deletion in 5100 CE of 3.85 lac O.I.
So the fingers crossed, and let us wait for the action, because only Market knows it better than us."
@mok,
I think a lot of my 'studies' in the past year has been to find that shortterm view since I felt that I understood EW well enough for the long view.
There are too many ways to look at the immediate mrkt from candlesticks, clouds, formations and indicators to profiling.
Trading strategies are another. Don't know when I'll get to hedges, butterflies, spreads and the rest.:)
Dear Friends - Intraday Bollinger band has narrowed down indicating consolidation - 10 SMA is over 30 EMA indicating positive trend - RSI is over 50, Slow Stock is over 50 in positive and Rate of Change is at 0 - In Medium term 10 SMA is below 30 EMA - so overall the market trend is bearish but short term it looks positive - Also a personal observation when China is in Green we are also in green and vice versa - observing this for over a month - China is in red - regards Deepak
Favorable for Bars,
Added O.I.is not shedding in spite of rise in price.The present O.I. is tough for Bulls to carry on further. Today's R1,R2 will be challenges for bulls.
Illango sir/blogmates,
if in a stock, pending buy and sell orders are almost equal, but futurers of same stock has 10 times more sell orders pending as compared to buy orders...what does it indicate...even if it doesnt indicate anything, why wud someone put such huge sell orders in futures....can someone throw light on this?
Yes Manu, i.e. why I mention 470 as the break out point.
one more point is that todays Open & High is same at 468.8 on NSE...
Dear Friends - may i request seniors to consolidate the learnings in this blog in one message - it can be posted in a link somewhere i am sure Ilango will help - Just bullet points giving indicators and action plan will be great as based on the bullet points new members can google and get the detailed information - regards Deepak
gautam, the wonder DATING boy
finally given up
so many individuals seeking advises on their individual positions testing his patience
its merely not possible for a individual to comment on somebody's positins as everybody has got his own risk potential, timeframe, endurance and trading potential
so how can anybody , be it a i lango sir, gautam or anybody else comment on a individual position without knowing all above mentioned attributes about him
we shud understand and respect the selfless services provided by these great people
and
learn following their tips provided on a common platform adhering to our own trading styles
expecting the same from everybody reading this
kindly attention otherwise we might lose the valuable and most importantly FREE OF COST able guidance available by these great personalities
thanking u all
regards
My intuition is with “shorts” after seeing last night action at US… :)
Well said Rochak
mynac,
all this time i was absorbing your writing, and have starred it for EOD followup,
looks like a pull down, though like your good spotting last minute squaring.
and the OI shifting is ominous, thanks for bringing it out.... so simple.
yesterday too the NF was rolling about the PP, now doing it betwen PP and R1, :)
IIP, Eur 12.30 for changing color catalyzing ...
:
whereis prosenjit, ? porsenjit, RV, you guys said you were silent obsrvers now, any obsrvation ? COmeon out here ... :)
@ yoda,
you left out eagles condors leaping away too, and the iron ing...
i stil remember ur moms 4 minilots :)
your testing wil be very valid,
honestly, i think EW needs an eye to look, and i dont seem to hav it.... it is still something faroff for after market studies of a blindman taking directions ... i try to read sirs notes like columbus may have done on his way to caribeans [thinking calicut :) ]
Dear rochak,
Is it your finger towards me?On the contrary I want the same as you are thinking.I follow the following"Do Not Look A Gift-Horse In The Mouth".
Thanks.
I agree with Satheesh.....Bank Nifty does looks like it wants to go down n has been resisted at 9300...so chances r it will bring the nifty down too.
sorry boss
i am not pointing anybody imparticular
please guide people
since the following link is not working
http://www.igmarkets.co.uk/
please provide me another link to monitor live feed of EUROPEAN and AMERICAN markets futures
thanks
regards
lol, mok. You're right, I left out a lot.:)
EW, I think, needs one-on-one teaching (bug Ilango to do a class over a weekend;), good data and charts and an empty vessel (previous trading techniques might be an interference). Very quickly you'll develop the eye.
thanks yoda for the suggestion,
but unlike b4, sirs timings have become tighter, i can see that developing over the months [remember the good old days ... then i used to be a silent reader since i could not post at all coz of some wrong setting in router]
will try sometime, its worth the try :)
US and EUROPE FUTURES LINK:
http://www.cfdspros.com/indices/futures-indices
Dear rochak,
Absolutely no need to say sorry my friend.We all are her for Dear Ilango's guidance and views.
It wud be gr8 if Ilango Sir takes a class....but if someone wants to self learn...
go to .. ELlliott wave international... u wil get free course out there... online
n its by bob prechter himself
I second you rochak. Ilango is like the public fountain(de knowledge). Many birds quench their thirst, many men wash dirty linen and many many have their bath in this fountain. But you need bottled water ? You pay for it. Knowledge has value and price. Only a few (a.k.a Ilango) allow it to overflow free. Equally there is nothing wrong in keeping a price tag.
Ilango recognises that it (knowledge) is the only WEALTH that grows by donating.
GB may think my Wealth has a price. Both are valid arguments.
its in a book form tho... n not a teacher student video :(
neha,
:)
thats sandwich this is masal dosai :)
That's an excellent book, Neha if you mean 'Elliot Wave Principle: Key to Market Behaviour' - Frost and Prechter.
Hai everyone
Nifty's bearish view in hourly chart
http://niftychartsandpatterns.blogspot.com/2010/06/niftys-head-and-shoulders-in-hourly.html
Thank you
Hi Everybody!
Here are some hidden faces too who try to sell their 3rd class analysis by other names. Due to people like ILango, Gautam Bajaj & others, their product is not selling. So often they want to demoralize these good analysts. Gautam & Ilango sir must understand these tricks. Every individual is responsibile for his own loss or profit bcoz nobody is forcing him to do based upon these analysis.
Rgrds,
KUMAR
mok-
RV's tongue is locked and the key number is 4850. Duplicate key is 5170.
Hello
gm
The game of speculation is not a game for the stupid, the mentally lazy or the get rich-quick adventurer. They will die poor-Jesse Livermore
http://www.elliottwave.com/club/EWI-basic-tutorial/original.aspx
thats the link... n its similar to the book mentioned..
tho not that... n yes I agree with MOK... on sandwich n masala dosai :)
The bears are hammering away at the top.
@gd,
Livermore died poor too.:)
@San
I posted the same chart yesterday but in a different view:
http://1.bp.blogspot.com/_0omNQHJs2Fg/TA_v42A4zkI/AAAAAAAAAFA/2EmX6uQlRbg/s1600/HNS.JPG
NEW POST DONE.
GAUTAM BAJAJ SIR
where are you?
plz reply
we all r miss u....................
where is GB???
Yoda - Mr LM poor? that is news. Why all wise men die poor? I now thing that I am blessed to be an idiot.
has nifty made its day high?5037 is days high ema as per Ilangos sir tech charts.
will nifty close abv 5023...5dema?keep guessing
@Rajagopal
Where you got this photo (your logo)
First confused and enlarged it and found clear picture.
something difference.
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