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 ...
77 comments:
Pl. visit the website –www.fishmarket.com
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Hi everyone,
I feel we are going up today - 5150+. Why ? 5L puts added at 5100. And negligible calls at 5100. Same story as yesterday. Will keep track. But "buy on dips" it appears.
-- gd
Hai everyone
Nifty struggling to cross 5138. Charts updated
http://niftychartsandpatterns.blogspot.com/2010/06/nifty-struggling-to-cross-5138.html
Thank you
Mr. Deepak
Many men go fishing all of their lives without knowing that it is not fish they are after.
@gd
5lac quantity intraday is nothing.....if you look at the overall picture OI in 5100PE is 49lac & 5100CE it's 64lac.
As per OI 5000 is huge support (OI build up of 93lacs) & suggest closing of this expiry above 5000. On the other hand 5200 will provide major resistance (OI build up of 76lacs).
Dear Fisherman - your philosophy is very deep or perhaps i do not understand your language - I am sure that you follow a very successful method of fishing and I wish you all the very best in life - Best regards Deepak
No Fishing. No Calls. As all friends know, just the Vix targets of N50.
Status as of now:(Equities)
Scrip Name Target @ noon Status
ACC 882.88 882.85 Done
AXISBANK 1274.95 1260.15 Pending
BHARTI 292.94 292.00 Done
BHEL 2359.28 2387.00 Done
CAIRN 303.40 302.40 Done
CIPLA 341.80 342.25 Done
GAIL 463.20 459.90 Pending
HDFC 2791.22 2809.00 Done
HDFCBANK 1942.08 1949.95 Done
HEROHONDA 2045.13 2034.45 Pending
HLL 255.86 255.00 Done
IDEA 56.86 56.20 Done
L&T 1703.71 1685.00 Pending
M&M 612.95 616.50 Done
MARUTIUD 1373.30 1360.95 Pending
NALCO 430.83 424.60 Pending
RANBAXY 432.35 435.90 Done
REL 1159.55 1142.05 Pending
RELCAP 702.20 695.00 Pending
RELICOMM 182.52 177.40 Pending
RIL 1034.32 1042.90 Done
RPOWER 160.23 166.00 Done
SAIL 203.97 204.00 Done
SBI 2374.52 2630.10 Done
SIEMENS 709.31 709.00 Done
STERLITE 664.19 654.20 Pending
SUNPHARM 1734.15 1724.15 Pending
TATAMOTORS 785.91 772.90 Pending
TCSCONS 765.39 763.30 Pending
UNITECH 72.77 72.00 Pending
Mr. San
U are a Sane Fisherman.
Work is for people who don't know how to fish.
U know your work and your Fish.They are always fresh and smell good
sir
the macd parameters mentioned are 12, 126 and signal line
18.
does it give divergence more clearly??
respecter ilango sir can buy nifty 5115 with sl of 5100
nifty future buyer 12.68 lacs and sellers 12.09 lacs - the trend is still positive - regards Deepak
Hi everyone
I bought 4900 put at 75 now 27 what shall i do? pls advice which level i can exit
5k puts continue to add OI..total 93L...and 5200 call writing going on ..total 78L
@ Manojag,
The link provided by you is the chart followed by my critic during intraday.
It did show a clear divergence when Nifty made the second high @ 5139.
Very good observations and thank you.
http://in.finance.yahoo.com/q/ta?s=^NSEI&t=1d&l=on&z=l&q=c&p=p,e5&a=r14&c=
This link has been there in this blog since inception under "Education TA/EW" at the bottom right side.
Sir, Can you please help us understand the divergence at 5139 of the yahoo chart which yu have referred in your blog above..Thanks.
Mr. Ilango
We ask a simple question
And that is all we wish:
Are fishermen all liars?
Or do only liars fish?
~William Sherwood Fox, Silken Lines and Silver Hooks, 1954
@akila
always keep a SL when trading in options....otherwise u'll loose all the money in premium. Put buildup in 5000PE doesn't suggest u'll get ur money back until n unless euro crashes or hns comes into play.
Rest other experts here can tell you better levels to exit.
According to me the reversal was at 5118 so i bought 2 lots of nifty at 5119 with stop loss of 5110 - if nifty reverses then i loose 10 points but i feel it will rise again from here - its first resistance is at 5120 and second at 5150 - lets see - regards Deepak
ilango sir the link u provide is not understand by me pls advice me
Ilango SIR CAN U PL TELL WHAT THOSE RED DOTS BEHIND MEAN IN THIS YAHOO CHART
Ilango,
I must have picked the link from here only and saved it in favourites without realising the original source.
thanks
manoj
@ S and Soha,
If you put a "5 day option", you can see the price from the open coming down a bit and then again moving higher to make a higher high @ 5139 while the "rsi indicator" was making "Lower high" suggesting weakness and the prices fell subsequently - this is called a divergence trade and more specifically a negative divergence.
You can learn more about them in the "Labels" section.
Ilango SIR CAN U PL TELL WHAT THOSE RED DOTS BEHIND MEAN IN THIS YAHOO CHART
@ arvinder,
Those red dots and the green dots are the "sell & Buy signals" respectively by "Parabolic SAR" method or S&R - Stop & reverse.
You find some articles under "Always start trading with these" - No.6.(SAR Method)
sir do we close below 5 ema this hour
Elango Sir
Is it right time to buy nifty now Fut 5105.
Please kindly reply
The tussle is for "5096" weekly ema as discussed in the morning.
today seems to be a dooms day
my personal view,,, at the money and near the money option writers are the smartest of all they do something bfor mkt,,, 5200 CE 15.2 lk written today
as per OI sustaining below 5090 more fall to come.
Ilango Sir...THANKYOU for explainig to me... do u think we should go long in nifty at this point
One could go long @5090-5095 with a SL 5080 NF.
@ arvinder,
As the tussle would be for "5096" weekly ema which is also Day High ema, a 20 point above and below might be a range - 5076 to 5116..!!
thanks sir :)
Hi Ilango,
Should we go long even if it breaks 5096 spot ?
Elango Sir
Thanks for reply.
let me present an example before u , how these TV analyst mislead us, yest. on CNBC aawaj, mr. sushil kedia stated that, tomm if 5150 is not hit, then till tuesday 4800 is surely on cards
he was sounding very confident
i wanted to believe him, but, dont know why, my instinct lead me to GOOGLE his previous analysis,
i found, once on dec. 27 2008 he stated january end nifty would be 3600, nifty then was 3100, when i checked on 30 th january, nifty was 2600-2700
another google i found, in AUG 2007 he said, @ nifty 4200 of a nifty 5100 by sept. but in sept. nifty was at 3850
@ Hero,
Correctives are difficult: Intra chart is oversold. A bounce is what might be traded..
This rise has had one fall of 70 points during this upmove and this fall should be around that much only upto 5066 maximum. Any fall beyond it will put a question mark..?
Thanks for your reply Ilango - got ur pt
today 5000 put... 10 L sold ... n 5200 Call 17 L sold...
upside looks capped...n so does downside fr now
Ilango Sir, Thankyou
another thing, i wanna tell u people,
ALWAYS go by ur instinct
tday i was first to check a news of a EICHER VALVO JV announcement on MONECONTROL
i checked, then it was trading with a volume of over 4 lacs with 5 day avg volumes around 10000 only, made a high of 915, and at that time it was trading @ 881 with a ATP of 886, i thought the news seems to be discounted in the price, with such a heavy volumes, even then i wanted to buy, so i decided to make a paper trade on it
i bought on 881 on papers
it made a high of 935, again it came down , 2 lacs more shares were traded by now, i felt, now the people who wud hav gathered it @ 886, wud hav sold it on 935, even then i thought of buying at that time @ 916, decided again in the favour of a paper trade, bought it @ 913, it went to UC within minutes @ 961, again with a volume of further 2 lacs shares, it was now sure that people wud hav booked profit into it, so i decided to short sell it @ UC
it fell down to 920 then
but u know
the trades wich u do on papers
never become so successful in real trade
REASON BEING
many of my friends say
FATI KA KOI ILAAJ NAHI HAI
sir
fr positional longs a close abv 5137 is a must
?
dont fall prey into eicher motors,
risk rewards doesnt favour a trade over there
i just mentioned an example
regards
Rochak and blogmates,
I had worst experience...i subscribed for Ashwini Gujral F& O managed service...and paid 5 lac along with 1 lac 20 tthousand fees..he converted it to 1 lac 30 thousand in six months and then was askng for more money(some cheek)..during this period his staff was arrogant, vague and my requests to talk to Gujral were evaded by giving evasive answers like he is busy...in interviews...
just sharing it to beware all...so that none of you suffer same misery...
big fisherman get big fish
@manu
if we close above 5090 it will make week positive
Thanks Mash fr letting ppl know... I used to think they used to dupe them on TV...
n make more fr their own clients... now we all know otherwise
mash,
there are few blogs using which u can trade urself.Ilost lot of money using paid service and now started to trade positional nifty and some times intraday by myself.
there is swing trading methods here :
http://www.icharts.in/forum/viewtopic.php?t=2230&sid=d8f3ea2353a43f83130fc8cec7691e4f
sameways Justnifty is a gr8 educative blog.
All the best
Ps
thnx ..i really missed 5090 5ema
@ manu & PS,
If closes above "5096" Week ema/ day High ema - it will be good.
If not, the position may have to weather some choppy moves next week.
Neha,
Along with loss of money, it was the feeling of helplessness which i went through, The man behaved like a low level cheat, i was aware there could be losses but he was non transparent and not reacheable, except his paid hands who are low level workers...
regards
ilango sir i had buy nifty at 5094 what should be the tgt
thanks sir,
Dear Mash!
Thanx for sharing ur bad experience, these kind of people can give u return only in Bull market. In sideways or bear market they ruin ur money, Its better to do it at urself. If u need any help regarding low brokerage etc. then mail me at FUTURESFINCAP@YAHOO.CO.IN, i would love to help u in recovering ur losses.
Rgrds
KUMAR
All fishermen are liars; it's an occupational disease with them
Mash ,
If u want any help,mail me at unbeatable.hero@gmail.com
I can give u some links where u can learn and trade urself
does brokerage really matters, untill we are scalpers
Mr. Kumar
you catch more fish, using more hooks.uhhh?
Fisherman...interesting theories you got...mate...:)
Dear Kumar,
It was a fierce bull run between jul 09 to jan 10...this is the time in which he converted 5.2 lac into 1.3 lacs...:)
thanks friends for the offers to help in learning...i will get in touch..
I am avidly reading and following Illango;s views, though not very successful so far...i guess mind needs time correction before it can instinctivelt learn new views.
regards
Mr. Ankurbbhatt
U also mate.sydney uhhh?
why blame net when fish slipped away yesterday
Sorry OoT
This fishing business looks like all a fisherman does is fish for complments....
just kidding ...
Shazia
GUYS, watch out for HDIL and BEL on DIPS towards 228-225 and 1710-1690 next week, they might ready for a fire now, next week only, dont jump now
@Aggressive Traders,
Can create shorts here as all over world markets including US will close lower towards end of their trading sessions since people won't like to carry positions over weekend. This will have an impact of Asia trading lower on Monday morning. Already, Sydney, Japan, Hong Kong all closing at their lower ends.
in HDIL i meant that, only if crosses 237 today on trading basis, then only go for it next week around 223-228 levels, rest BEL is a sure shot buy next week between 1710-1690
@Fisherman,
Sometimes you have to leave small fish to catch a big fish. Sometimes you have to be hhappy with a big fish then waiting for a shark.
:) How is it ?
sir,
9h rsi triggered and again closed above
NEW POST DONE
Mr. Ankurbbhat
To talk much and arrive nowhere is the same as climbing a tree to catch a fish
No fish to sell today?
sir 2 pm update pls
@Fisherman,
I dont sell stale fish...so no selling today...
mash,
that is a tough experience. I have similar experience with US mutual funds. It is all the same. You need to do your own research and invest. If you dont have the time, there are safe investments that give 5-8% now - it is afterall your hard earned money. Above that, you have to put in the effort and time. You cant trust anybody. So many factors have to come together to make you a great trader who works for their clients - integrity, experience, smart, conservative/aggressive at the right times, luck etc. You are in the right group now. Selfless the folks here are. It is refreshing. Even if I dont make money, i just enjoy seeing folks being honest.
-- gd
Hai everyone
If nifty holds 5105 we might see a rally before end of day.
http://niftychartsandpatterns.blogspot.com/2010/06/nifty-5-minutes-chart-with-todays-range.html
thank you
Ilango sir Jim rogers told on cnbc that he expects dollar and euro to reverse so that could be bullish for equities
OI - CE/PE in lakhs
5000 43/94
5100 68/51
5200 84/21
5100 - 8L puts added
5200 - 19L calls added
So we might trade in 5000-5200 range. Again all these calls/puts could vanish after day's close. Advantage of being on the inside i assume.
-- gd
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