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 ...
60 comments:
Hi Ilango Sir & Friends,
Good Afternoon.
Euro is falling. It is trading below 1.2330 against $. Will it be any impact on markets?
http://www.livecharts.co.uk/ForexCharts/eurusd.php
Rajagopal said...
Manu - u mean
"Kukke Subramanya" temple is on the way to Mangalore from Madikkeri.(Karnataka). Just let me know if u want to visit. Karnataka is full of lovely temples.
HELLO FRIENDS
our targets completed in UTV SOFT. 2 more trades suggested. Please have a look at stock2gains.blogspot.com
thanks
regards
P.S.-please dont forget to visit my blog every wednesday evening for a Sai bhajan.
My 2 cents update on Nifty status...
http://safegamble.blogspot.com/2010/06/nifty-might-be-overbought-but.html
-- gd
Sir....R1 is proving its point since morning !!
@ All
Read@ your time,Very Nice
Every person those who r far away from their parents for jobs should have to read this heart touching mail!
ONE BEDROOM FLAT...
WRITTEN BY AN INDIAN SOFTWARE ENGINEER..
A
Bitter Reality
As the dream of most parents I had acquired a degree in
Software Engineering and joined a company based in USA, the
land of braves and opportunity. When I arrived in the USA, it
was as if a dream had come true.
Here at last I was in the place where I want to be. I decided I
would be staying in this country for about Five years in which
time I would have earned enough money to settle down in India.
My father was a government employee and after his retirement,
the only asset he could acquire was a decent one bedroom flat.
I wanted to do some thing more than him. I started feeling
homesick and lonely as the time passed. I used to call home and
speak to my parents every week using cheap international phone
cards. Two years passed, two years of Burgers at McDonald's and
pizzas and discos and 2 years watching the foreign exchange
rate getting happy whenever the Rupee value went down.
Finally I decided to get married. Told my parents that I have
only 10 days of holidays and everything must be done within
these 10 days. I got my ticket booked in the cheapest flight.
Was jubilant and was actually enjoying hopping for gifts for
all my friends back home. If I miss anyone then there will be
talks. After reaching home I spent home one week going through
all the photographs of girls and as the time was getting
shorter I was forced to select one candidate.
In-laws told me, to my surprise, that I would have to get
married in 2-3 days, as I will not get anymore holidays. After
the marriage, it was time to return to USA, after giving some
money to my parents and telling the neighbors to look after
them, we returned to USA.
My wife enjoyed this country for about two months and then she
started feeling lonely. The frequency of calling India
increased to twice in a week sometimes 3 times a week. Our
savings started diminishing.
After two more years we started to
have kids. Two lovely kids, a boy and a girl, were gifted to us
by the almighty. Every time I spoke to my parents, they asked
me to come to Indiaso that they can see their grand-children.
Every year I decide to go to India… But part work part
monetary conditions prevented it. Years went by and visiting
Indiawas a distant dream. Then suddenly one day I got a
message that my parents were seriously sick. I tried but I
couldn't get any holidays and thus could not go to India ... The
next message I got was my parents had passed away and as there
was no one to do the last rights the society members had done
whatever they could. I was depressed. My parents had passed
away without seeing their grand children.
cont....2
...2
After couple more years passed away, much to my children's
dislike and my wife's joy we returned to Indiato settle down.
I started to look for a suitable property, but to my dismay my
savings were short and the property prices had gone up during
all these years. I had to return to the USA...
My wife refused to come back with me and my children refused to
stay in India... My 2 children and I returned to USAafter
promising my wife I would be back for good after two years.
Time passed by, my daughter decided to get married to an
American and my son was happy living in USA... I decided that
had enough and wound-up every thing and returned to India... I
had just enough money to buy a decent 02 bedroom flat in a
well-developed locality.
Now I am 60 years old and the only time I go out of the flat is
for the routine visit to the nearby temple. My faithful wife
has also left me and gone to the holy abode.
Sometimes
I wondered was it worth all this?
My father, even after staying in India,
Had a house to his name and I too have
the same nothing more.
I lost my parents and children for just ONE EXTRA BEDROOM.
Looking out from the window I see a lot of children dancing.
This damned cable TV has spoiled our new generation and these
children are losing their values and culture because of it. I
get occasional cards from my children asking I am alright. Well
at least they remember me.
Now perhaps after I die it will be the neighbors again who will
be performing my last rights, God Bless them.
But the question
still
remains 'was all this worth it?'
I am still searching for an answer...... ......... ..!!!
START THINKING
IS IT JUST FOR ONE EXTRA BEDROOM???
LIFE IS BEYOND THIS …..DON'T JUST LEAVE YOUR LIFE ……..
START LIVING IT …….
LIVE IT AS YOU WANT IT TO BE …….
@ RG sir,
I have also been watching AshokLey ... however I always get the doubt how to handle thse situations?
1. Enter at, say probable level of breakup
2. Enter at the bottom channel of the narrow wedge
Associated problems:
1. Might fall into a bull-trap and might just touch my price point and break-down
2. Often it does not reach the down channel and brisk-up on the other side without taking me! ...
the problem is more complicated because I can not afford more than 0.5 - 0.75% drawdown ... can you suggest a strategy for this kind of situations?
Rgds,
Rajib
KKay...superb man !
to make money with vengence, I am in a transistion to materialist. Now, nothing is more worth Money in life ! I was very content and happy when I was earning only Rs.2000 in my town before I came to b'lore...my salary increased manifold..but my life had a -ve div.
And my wife, a complete down to earth woman keeps asking me and harasses me with her question - why all these ? was all this worth it...??
but ilango sir opened the moral gates to a great extent...am trying to find a balance....thanks again to him !
regards
kkay - very disturbing and touching. But life is a garden of anomalies.
===
Watch out TVS Motors...
Thnx Rg..
yes it is the same temple..
my sister is on a visit to the said temple..
she had committed a visit to this place as
she was the only survivor in that car accident..
she lost her 9 month old only child along with parents..
nw she is having a child..
i was bit worried due tp manglore airport..
as she is my only sis..
sorry sir all out of context
@ KKay,
Very useful way to ride these shallow corrections.
It is the story of many who live their life as per the "society's expectations".
The "road less travelled' may be unpredictable but it will be "your road" and you are sure to find many memorable moments of this "fleeting journey". (Remind me of the fleeting "Maya" experienced by Rishi Narad when he asked "What is maya..?" to Lord Krishna.)
@kkay
Good old story...but a bitter truth.
--------------------
Expiry should be close to 5300-5320 as OI in 5300CE suggests call writers will try to make 5300CE worthless.
@ all
Sorry Frinds & sir,
For Disturbing in between the Market.just send me
Mail id on kkay369@hotmail.com to share life touching
real story
thnx
kk
@ HariArani,
If Euro/USD holds 1.2275-1.2280, some upsides in intra possible.
But today's market action will mostly based on Open Interest action.
Manni...did you mean 5400 CE OI ?
look at the OI acc of 5400 CE & 5300 PE alongwith 5400 PE. your point gets proved there.
sir/mynac, appreciate and respect your comments here !
kkay,
thanks for it
Rajib Bhai,
1. Frankly at these levels AL is a No Buy for me.
2. I highlighted it today since found OI increasing (only counter out of 43)at yesterday's levels and assumed that it could be a SHORT build at the levels.
3. If it moves beyond y'days level, then I assume short covering.
4. By y'day's price, it has given a "Buy" for a target of 64.43.
===
To satisfy your parameters, entry has to be only if Opening Value remains the Low for the day - with higher side giving enough scope to decent margin.
I am referring to F&O of AL only - which has 9550 shares/lot. 50 paise + can give decent intra entry.
is it time to buy nifty...ns near 5329VAH for today as per TA charts
"What is maya..? = Vanishing Profits.
ThankQ Ilango sir....
5400CE is already worthless....I mean 5300CE only...unwinding in 5300CE going on but 50lacs still remaining.
OoT again...
I enjoy Harsha Bhogle a lot !
I found his recent remark in his ToI column about Pakistan WK very funny....pasting it !
"... This team can win the World Cup for them but first they must find a wicketkeeper who believes catching is part of his job description! "
regards
Sir,
Fast fall MA set up in 5 min chart ?
regards
Dear Ilango Sir:
As i was travelling could not do trade; Using this dip can i BUY Nifty? Can you please let me know as per your Premarket view can buy around 5310-15 spot levels?? as it is now at??
SIL
Dear Ilango Sir;
I mean i could not trade this whole week; SO is it good idea to enter/ BUY at these levels or should i wait for the next BUS;
please advice;
SIL
RG
Maya means " not vanishing the profits" for RG.It also " vanishing the capital" .This is the true Maya for the people who are chasing for the "extra bed room". Now days , I am finding more people dabbling their very hard earned money in F&O and loosing every thing
Bala
@ SIL,
Wait for another 30 minutes. Will update.
Thank you Sir;
SIL
After being tracking the 5300 PE since this morning.. it seems like we are going to slip below 5300..
Any news? All world markets in red.
http://www.cfdspros.com/indices/futures-indices
Bought 10 lots of 5300 put @ 5.6
Target 20
SL 2.90
The 4th wave correction may continue towards the channel bottom.(5255 & lower)
Strength will be only above 5335.
Sethu,
Great for u and ur clients.
Sunil
@ prashant
How can u effort brokerage for Options
@ lower premium
kk
nifty bounced from 21 hr low ema...
for any upmove it should hold, today...
i lango sir
can a counter move possible towards 5360-80 today itself.
thanks answering
Though it does not look so for an immediate move to new highs as per the normal corrective patterns (this one looks like a "zigzag" in the making), I have seen market surprises.
We get some help from our TT: Hour is in total sell mode till it closes above HL ema. If closes below 5328 (DH ema) today, a sell on rises come in to play.
Looks like a downward consolidation, resembling a flag if 5284-85 NF holds.Then above 5350 we can have a breakout for the next upmove.Also, day low EMA for NS is holding yet.
thanks answering sir
Hai everyone
Euro giving up its gains nifty going down with it.
http://niftychartsandpatterns.blogspot.com/2010/06/eurusd-hour-chart-facing-resistance.html
Thank you
Adding to the above post
A four hour chart of nifty futures showing and important break down.
http://niftychartsandpatterns.blogspot.com/2010/06/nifty-futures-important-break-down.html
Thank you
Ilango sir, is it possible that we did abc up and 3rd down wave
started @5370?
5400 still not breached.
Thanks
C'mon Bears.. your day has come..
closing below 5200 on eod basis only gives sell signal
for positional view.
@maniinrupees,
Open trading account with R K Global with flat brokerage charges as Rs.9/- per lot in FNO or per transaction in Cash Market with around Monthly maintenance charges Rs. 500/
@ bizagra,
Such a possibility exists as long as 5400 is not breached.
But we are keeping the 4th wave possibility as of now. We will trade 5345 to 5225 zone.
Will exit the conservative Longs too.
Trade this zone. It will have its ups & downs.
pfc & fed bank, riskier buys, sl hit
Hi Ilango Sir,
Euro broken 1.2275 vs $ and trading below that. Can we see some downtrend from now onwards in our markets?
Also i am holding Nifty long from 5220. Is it good time to book profit or can i keep SL 5280?
Please suggest sir.
Regards
as expected, indian hotels gave us opportunity to buy at our expected band and bouncing off. Patience pays. yuppyyyyyyyyy
If 5290 holds, a move to 5325 is possible.
NEW POST DONE.
= = = = = = = = = = =
@ HariArani,
Book out @ 5310-5325 zone.)Trailing SL 5290 now)
Buy back @ 5225-5255 zone (Will update @ EOD) or Buy above 5350.
just wanna prove my point that follow up of volumes burst along with LL or LH and a HH or HL pays if ur approach is stock specific.
thanks
@kkay
Open trading account with R K Global with flat brokerage charges as Rs.9/- per lot in FNO or per transaction in Cash Market with around Monthly maintenance charges Rs. 500/
@
pradhan
Thanks 4 information
kk
Hi friends,
come and join larger timeframe (daily/weekly)
there is no traffic, less competion no need to panic everyday
Small positive divergence in 5 minutes chart.
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