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 ...
47 comments:
9RSI- heavily overbought..almost its peak since one month...
@ manu
why do u say its a trap???
PS..Hi..
chck sir update on tisco(stock wealth)
and its Fut Oi data ..
i may be wrong as 492 closing is imp.
i c closing 499 or above
@manu
rightly said... 492+ closing is imp
@ assortz,
That means "it is bullish".
Study carefully how much the price has advanced or declined every time this oscillator has made a trip from top to bottom or bottom to top. There in you will understand the changing undercurrents.
This is not simple buy @ OS and Sell @ OB but it also indicates the changing strength & weaknesses and what to expect in the next trip. When the expectations are not met, understand that the current trend is reversing.
Hai everyone
Renuka Sugars recently gave a break out above the 20 day moving average. Now the hour chart is showing negative divergence. I have updated the chart.
http://niftychartsandpatterns.blogspot.com/2010/06/renuka-sugars-ltd-negative-divergence.html
thank you
ToTa mit:)
i knw ..that day false breakout was sucking:(
Sir,
Thanks for changing my understanding on “RSI”..will change the perception hereafter
yes Manu.
that was real bad.
but around 475, Tisco has made triple bottom.. and considering the fact i bought at 477 with TSL at 472
now wait is closing above 492 more preferebly 500+
and ToTa mit is good... :-)
Hi Ilango - can we take a short here?
1. top of the flag channel.
2. 14 Hr rsi at OB levels.
@ Sethu,
Blue: 9 rsi; Red: Its trigger line (9 sma of 9-rsi)
Grey bars: Price.
Sir,
My understating was buy @ OS & sell @ OB.
Thank you for the clarification.
@Ilango sir
On your reply to assortz
------------------------------
That also means that we must wait to enter conservative longs till it nears OS. And as per the trend we may be again near OS region when nifty approaches the neckline & that would be the correct time to go long. Correct me if i'm wrong somewhere?
@Rajagopal,
I am waiting for your BTST and STBT calls, especially on Bharti.
bhavesh
then can i get a quick buck shrt nw and coner below 480
BTST
Scrip Name HIGH-Rs
ABB 895.30
ACC 853.85
AXISBANK 1266.52
BHARTI 282.03
GAIL 468.00
GUJAMBUJA 116.50
HDFCBANK 1923.88
HLL 251.41
ICICIBANK 874.76
INFOSYS 2733.84
ITC 289.90
L&T 1700.92
M&M 598.27
NTPC 203.87
ONGC 1239.74
POWERGRID 106.49
REL 1134.73
RELCAP 690.79
RELICOMM 170.79
RIL 1053.93
SBI 2335.26
SIEMENS 709.80
TATAMOTORS 792.67
TCSCONS 780.60
STBT
Scrip Name LOW-Rs
HINDALCO 140.83
STERLITE 629.45
SUZENER 53.39
TATAPOW 1227.43
TISCO 472.36
WIPRO 645.92
Taken at NS +90. Ref TA Table for conditions. All STBTs are in OS - in uptrend will influence trend reversal.
A close below 5111 at 3.00PM would be "weakness in Hour time frame".
Tisco buy above 500 it is making a decending triangle pattern. or buy with SL 474. that is my opinion i maybe wrong.
Hi Everybody!
Short seller are looking Nifty from other angle & Bulls r looking from other,its market. For me Nifty will give sign of 1st weakness if it closes below 5090 on hourly chart, how strongly Bulls are holding 5100 levels now, that shows strength of market so i will again say Buy Buy Buy in dips upto when 5050 is holding. Inverse head & shoulder will give u target of 5150-5200 soon. All moving averages are bullishly alligned & Nifty traded whole day above that. In end short covering will give momentum to this market.
Rgrds,
KUMAR
Nifty excatly moved up form hourh high EMA
Seems the bulls are in full control
Hai everyone
Posting Nifty line chart showing support band for bulls
http://niftychartsandpatterns.blogspot.com/2010/06/nifty-line-chart-showing-support-for.html
thank you
BTST F&O
Scrip Name HIGH
ASHOKLEY 65.44
BOB 732.78
HICON 117.95
IBREALEST 164.54
IDBI 115.71
IDFCLTD 165.59
IFCI 56.03
NOTOLLCO 29.50
RIL 1055.45
SESAGOA 388.60
SIEMENS 711.17
TATAMOTORS 789.27
TATATEA 1118.58
TCSCONS 766.34
TECHMAH 723.13
YESBANK 301.90
STBT - F&O
Scrip Name LOW
ABANLOYD 661.34
HINDALCO 141.51
MPHASIS 560.87
PUNJLLOYD 112.27
STERLITE 630.89
SUZENER 53.49
TISCO 471.58
CONDITIONS APPLY
@ Rajagopal. Thanks.
Dear San
I am holding nifty at 5090. and BN at 9252.
shall I hold it for tmrw.
Kindly reply
@rakesh
to get the benefit of descending triangle... we must close above 500
the triangle height is approx 40 points.
Dear Rajagopal
I am holding nifty at 5090. and BN at 9252.
shall I hold it for tmrw.
Kindly reply
tot amit
will sent u the chart in the evening
sir
shai suggesting bank nifty spoiling long party..
u also suggested the same:)
@sryasdmurali
Nifty is showing strength. It gaped up today and never tried to fill the gap. A close above 5100 will be a strong signal. With the support of world market's should achieve 5180 by tomorrow.
I haven't seen bank nifty today so May be raja sir will guide you
Dow jones has given a positive close yesterday night it break out of a triangle formation so that's positive for the entire world. The only worry is that it is a triangle which broke out you know about triangles they can give false ones. I am posting the down jones chart here.
http://niftychartsandpatterns.blogspot.com/2010/06/dow-jones-analysis-after-closing-bell.html
thank you
Thanks PS
will wait for it
@ TOT Amit . you are very right or tisco might go down below 474
@San
Thanks for your reply..
ps
me too
Take a LOOK....
http://farm2.static.flickr.com/1285/4666051186_587c52451d_b.jpg
Discount come to 14 points only
should we carry longs into tomorrow or exit out?
Sryasd...San is more knowledged to answer your query and he has done it. I just saw the post.
Sethu : Noted. My focus is on Nifty 50 + Volatile/Volume F&O. Kindly drop a few names of your criterion.
Thank you Sir and Friends.
bye friends,
Sethhu Sir,
" LT carrying" - hope will deliver tommorrow. I am in both twins Bhel and L&T.
@ Rajagopal
Thanks for your reply..
Where is your put up in Chennai.
I am in West Mambalam.
ILLANGO SIR/RAJGOPAL,
COULD U PLAS HAVE A LOK AT ZEE ENTERTAINMENT AT POST UR VIEWS..
REGARDS
@San,
You have an excellent eye for the patterns. So, I would like to ask you if in the chart of dow jones you can see an excellent inverse head and shoulder with its neckline at 10260-70 (roughly speaking)? On the other hand, it seems a Bump and Run reversal bottom has been formed in the hourly chart of Nifty with a potential target of 5340-50 in a few days. Can you check these if i am wrong in my observations?
Thanks,
Sir and freinds Buy Mphasis
@tot amit,
ur blogger is not enabled i dint know ur email id
What to do of my 5000 puts bought @118 ? It has fallen to 72 now :(
Dear Sir,
I have been following ur and kpls' blogs very religiously, and have benefited from them at various times. I have noted that ur blogs are now pertaining to very short term movements in nifty, kpl has been indicating a rounding top consistently, and probably the 2nd half of the same is going to mature. There is also a probable h&s emerging on daily charts with the right shoulder near 5160-5180 levels. Could you comment on these two observations, and also indicate invalidation pt. for the rounding top. The worsening economic scenario in Europe looks like a precursor of things to come in future.
Forever a fan of yours,
Gaurav
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