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 ...
89 comments:
"EURO" continue to move lower.
ilango sir i had buy reliace at 1080 can i hold
Hi Ilango,
Is this a good time to short
Shiva
Dear Ilango Sir:
As per the premarket view are we looking ahead for a LOW of 5245-55 NS levels?
Can we hold our Shorts with Day high as SL?
SIL
can somebody confirm the level to enter long again in RIL. I had exited at 1079 entered at 984.
Or,is that going to push down to 1035-40 levels ?
regards
As I mentioned earlier, these trades are of "intra" in nature. Now the Hour has given a sell but it needs to close below Hr low ema @ 5263.
Till the daily is not in "Sell mode" trade light on the shorts.
"5255" low almost done. More weakness will be only below that.
Thank you Ilango
Regards
SIL
@ sir
your view on ril now....holding one 1060 and one 1100 call( bought for small profit but didn't get chance). already below cost price.What could i do?
RIL: A close below 1073(High ema) would be weak in the short term. 1045-1050 should hold during correction for further upsides.
Tata Steel: 472-475 is a must hold area to resume uptrend.
sir nifty fut now in prem.
@ilango sir,
I am curious on whether you have noticed one particular hour where close > 5EMA, highEMA, lowEMA and after that the market never looked back. Basically the right hour for the beginning of the downtrend. Similarly for uptrend. Just curiosity on whether TT gives that point exactly.
-- gd
I think 5247 would be a good buy level, but this nifty doesn't seem to want to fall even there.
Thank you sir.
GD - I am confused. If CLOSE>HEMA, then naturally it must be >EMA and LEMA. How are u interpreting? Pls educate me.
My broker{Indiainfoline} has given a call to buy Nifty 5300 put for the target of Rs.100... Now I really feel nervous...
Sirisha
HYD
respected illango sir i bought nifty june @ 5263 wat shd be d sl?
reply plz
@rajagopal,
u right. Duh...
- gd
AS per EW, after a 5th wave is done, market generally retraces most of the 5th wave.
5th was from 5207 to 5302. A minimum move into the 4th is certain.
4th started from 5255 to 5207.
A healthy correction should end within this 5255 to 5207.
A deeper correction may move towards 5171. (4th of the lower cycle)
5256 NS is taken out
@All,
Watch 5255, today's Pivot...breaking can take Nifty 5213. A/D very bad...not like everyday...
RG.:) Very clever.
sir this comment is not clear
GA all & sir
regards
vikram
RIL touched the 5-ema @ 1057 and bouncing.
@manu,
Ilango's saying that its in sell mode now and should fall to between 5255 and 5207, maybe even 5171.
RIL put huge profits...made d day...thanks 4 d sell on news funda :)
Dear Ilango sir!
I bought a call today of Nifty, what i shud do?
I bought a put rightnow, kindly advise.
May i short nifty here, kindly reply.
Any view upon Tisco?
What looks in Reliance sir?
Sir, If u reply individualy like this then do u think that anyone will be benefitted in big manner by ur fantastic analysis?
Rgrds,
KUMAR
As per my system 5254.2 is low. Any body can give actual Low of Nifty
Ilango,
Likely move towards 5171 should be 4th of one higher degree?
@yoda
thnx ..but whr v gt selling signal yet
lol, kumar.
yes prabhakar you are right
euro rising again is + ve freinds anyplace where i can get dow futures with its high and low?
@ Manojag,
As per our labelling shown in the EOD analysis, the 3rd wave's sub division has 5171 as its 4th.
The corrections generally end near "the 4th of the previous or the lower cycle".
Ilango do u see a possibility today nifty attempting about 5330?
@manu,
I'm guessing Ilango will indicate when there is a sell signal.
On my 5ema trigger it looks like 5295 - 5310 zone. But I'm not very good at predicting.:)
I m out of my shorts, will short again near 5340.
i should not be asking this question,as its against your mantra, but still since am novice to RIL and stock trading, I would like to ask you whether it can be bought now...i thought i could wait till it crosses DH EMA of 1073, but it seemed to held 1060 which is moving 5L EMA. Indicators are suggesting the correction is on.
Am confused, plz guide me when to enter ?
regards
its seems we are heading towards 5340
@ sir
as per divergences in the charts, does it look favourable for RIL to touch new highs today?
its tata motors streching the things.
@ Kumar,
You are right.
I remember when I was in 2nd Std, they had "Special English teaching" as optional only for "interested ones". At the end of that class they would give "Britannia biscuits" to the students attending.I too went for it but alas only for the "biscuits"...I never learnt any English till I "passed out" of my college.
We are exposing our readers to "lessons". Some will pick it up. Some will eye for the biscuits. You can not blame anyone for wanting those lovely biscuits.
EURO AT NEW HIGH
@hitu!
Thank you
bears are in trap.
@ Ankhurbhatt,
You will notice till the expiry, "the bears" come rushing to cover their shorts at every fall.Only when the "shorts" are out of the system, the bulls will find it difficult.
RIL can at best attempt 1073(High ema) today.If it sustains above that, that will be real strength.
we will close around 5345 spot
Perfect Example Sir :) If i read it as personally, i am in 2nd category
http://www.freestockcharts.com/
is a good site for US stocks
Lender of the Last Resort must act to fund Mr Nifty ?
Thank you sir.
@Ilango sir
Very well said sir....!!
I forgotten about Nifty
Long term trend = uptrend/Change trend below 4650/weekly close
medium term trend = uptrend/change trend below 4950/daily close
welcome and thanks, r.a. ramesh. Plz post your views regularly.:)
NIFTY COILING UP.waiting to go up.
Dear Sir,
I have just downloaded your excel file, Can you plz help me out how to input data?
In which sheet we need to input data?
no bad news can bring down the U.S markets now.
Europe will go higher helping the nifty.More short covering coming up in 45 mins.
i bet nifty all set to fall below 5200...
Dear Ilango,
your EOD analysis 5 min chart shows this rise to 5305 as either 5th of 3 or C meaning that if either 3 is over which was from 4967 than 4 should see a fall ofatleast 38.2 to 50% AND if its C than a larger fall is on the cards. I would go with 3 ending or the 5th within 3rd about to end. So the 4th should target atleast 5175 being 38.2% of the 3rd. Could you please vouch for this understanding of mine.
thanks
@Piyush
the same here, but nifty teacher running modern school, here teaching style is patience. May be he started school like this, coz his teachers were also like that. At least we should follow the same while teaching to our students
Note:- If we learned any thing :)
The only problem is metals are doing badly. I had heard someplace that metals must bottom for a rally to start.
Hai everyone
Tata steel intraday levels updated
http://niftychartsandpatterns.blogspot.com/2010/06/tata-steel-intraday-levels.html
Thank you
@babu
if we ever become teachers :-)
i am missing those duster on knuckles, canes,
those full force ear twists.
sir u shud start the same with us.
Ilango sir and freinds any site where we can get dow futures high and low
also?
BET-Paresh
DO it Yarr..!!
@ all
See the discont diff in TATA STEEL current@476/July
Future@470
kk
@ manojag,
Often a shallow correction could come upto only 23.6%.(which will be 5222).
That is an option worth keeping in mind.
A dollar index fall below 85.0 would be a big booster for equities. But it is quite deceptive as of now.
THE retail is blind-fold log, if this thing goes dow,then ,o boy. margin calls.
when was the last time nifty closed 7 consecutive days in green !!!!...we must end in red today..irrespective of dow futures or europe.
@ all
RELIANCE breaks 1057 5-EMA
kk
ah, how to boy-child suffers to become hardened men. If a teacher raised her voice in school, tough girls would cry and the sweetest would faint.:)
I meant nifty goes down,,, ppl have lots of f&o lots on the plus side. I sometimes these dabba nifty players to ask.
@ PS,
We were able to accept those teachers...poor souls were underpaid but most were quite sincere. Now it has become a business.
I feel education should never be forced on anyone. As the saying goes.."When the student is ready, teaching happens to him".
That requires tremendous restraint on our part. We still continue to prod them to learn hoping it will click one day but it clicks on its own not because of our prodding.
Ilango,
Previously schools/hospitals were opened as a means for charity but the same has turned into slughter houses.
sorry 'slaughter'
Schools for slaughtering human mind and hospitals for human pockets
@Jay Shah,
you can get it at Bloomberg.com
@all
RIL again bounce from 1056 5_EMA
kk
@ Manojag,
"Slaughter House"....the highest form of crime.
I would like to see someday..."Parents not sending their children to schools"...that is my dream.
http://www.bloomberg.com/markets/stocks/futures.html
OoT : Teacher.
1. Only one in the school who fails consistently - he sits in the same class every year.
2. They are fond of saying "Uruppuda mattae" "Sudaraega nahin" - but the boy becomes big and the man remains a teacher (in the same class). Because his words were not curses, chiding words of "Mother".
3. Yoda gave a personal hint about self.
sir
they were sincere. most of education nowdays anyway
about scoring marks , getting jobs. so maybe it works
i have not come across any teacher with thoughts u
mentioned above.there r always exams there so u have to else
....
@yoda many advantages...
NEW POST DONE
Ilango Sir,
You are a few million years away only from the day. (I would like to see someday..."Parents not sending their children to schools"...that is my dream).
We played in our schools. Now there are "Play Schools" where office going parents DUMP their wards, who are promptly given a dose of cough mixture by the "Aunty/Uncle". Then how to manage 30-40, 2-3 year olds at a time?
thanks fire
Dear Ilango,
Nifty definitely in up trend but my observation as a day trader is that since morning yet it has not yet crossed yesterday's high in addition to that 2000000 of O.I. addition is getting tough for bulls at present.The bid and ask rate quantity ( Figures) are still hopes for bulls for short covering but profit booking is not allowing Nifty to go further up immediately from here.Let us hope it shall hold 5255.
Dear Illango, Can u please post ur larger view on Nifty
starting right from inception of nifty, i.e. from 1990
or so. Can we tell 6200 was the end of 5th wave. Wave A
was from 6200 to 2500, wave B from 2500 to 5400 and
wave C from 5400 to 3800-4200
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