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 ...
98 comments:
Like i said :-P
nice one NE GB :)
Ilango sir, now sud i exit shorts or wait, what sud b sl now.I m conservative.
Sorry for disturbing again and again as sitting against yr call.
GB u r gr8.
wait for tomorrow
to exit ur shorts
GB, is it a BUY, if 4920-50 comes anytime
OR
is it a buy only on friday
Buy @ 4920-40
Ilango sir,
are we getting any indication to test the infection point 4935-4950 ?
GB - stretch your neck (very short nap). Great call friend. But I am Long now. Do I quit and reverse? Encashed my short.
assortz - trust me it will happen -- "believe"
@Ilango,
I need and am waiting for your assessment Ilango..Could you please tell me current Nifty strength?
Thanks..
sir & family
Ga
tisco is decoupling nifty..
or nifty in a trap
LOL RG - very hasty u are.. go with my levels
gb sir,
wow.
GB - we always :)
give me ur mobile numbers
will add u for the sms calls
Done GB. Exited for 6 pts. Will reverse @ 2.30.
Manu - all metals fueled by the chini bhai. Look Hindalco,Sesa also. Little help from market our longs are gold.
@Ilango,
Ok..The charts are back..
Thanks anyway...
what a move today..
GB and N+E steal the show..
amazing confidence..
max respects for u guys..
go long tomm RG even in stocks
gb=n+e
sir,
nifty is taking support at ur prematket trendline,
it seems rsi is warning of a trend chance the journey frm
o/s to ob produced little gains as compared previous trips.
it is very clearly evident in 5 min too
Done mr lover
Hi Frineds - do not share mobile numbers here. Reach for N+E/GB's site and drop your details. It is not SAFE to share mobile numbers here.
Take it as a request,suggestion or caution. Reach his site.
Thanks RG!
Please vist my blog
u can leave ur details there
or send me an email
@ RG
sorry i m littele bit late in reading the message
Thnx
kk
RG
has shifted unitech 2 tisco..
i m long in it..hedged with puts @480
i generally do with nifty..
must hav earned on both sides but greed is bad:)
Gb
berneky may steal d show-his speech tonight
Hey GB/NE
What's your blog's address?
@GB
Hats off to you man!!
you have been so consistent in timing the market.. you are a dating boy.
I am viewing your analysis for quite some time, say over a year, when you used to post in a google group and someone used to name the analysts as "Tiewala".
I like your confidence very much.
keep up the good work bro.. we need ppl like you.
Thanks
Hemant its on the picture
to the left of my name
<< 5040 - 4965 >> This is the short term spike levels.
"5040" may come down slowly as the hours pass by.
Manu - nice to c move in TISCO,Uni,Hindal,Sesa,Cairn. But BOB and YES dampened the joy. Watch Yes - good count and good move in futures. Think of a few Oils for tommorrow. No decision is made yet - may be CMP,Mamtadidi and BJP will agree for Rs 2 instead of 3.50 ?
NE UR CALL WAS FABULOUS,,,HOW DID U KNOW ...I WOULD ALSO LIKE TO LEARN...AND DO SUGGEST WE BUY TISCO CALLAND WHICH ONE
@RG
i think they all r going to agreed on weekend..
only to add some blues..to the market...
Rg
i dont knw hw many stocks and indexes u trade daily
but it has been tough to manage even one..
hats off fr a eleph"ant" brain
manu the mischievous,
:)
arvinder - i cannot explain - my wife asks me the same question
and i give her the same answer
i see it happenening much b4 it does.
hourly, daily, weekly, monthly, yearly
i dont use indicators / formulas or any such thing
i'm happy with a google chart as well
Manu the mischievous,
As you have Beta Trading I have Dust Bin system. Just that.
(High count futures+volatile are the loved ones-as in the N50 sheet).
dear ilango can we carry short for tomorrow?
Anil - cud be. Tough bargaining on. Pranab daa will win.
EU
falls
heavyily
sell tisco
Jayrang Patel,
We will stick to our plans:
Stay short and bring down the S&R to 5040.
Never get carried away by intraday moves.
You can part book closer to 4965 which has been holding for the past few days.
Hi Neha - I used to use EW counts but dont anymore
I read the chart like a book - intra / daily etc
@iLANGO,
tHANKS FOR THAT COMMENT...i JUST SAW YOUUR COMMENT...i THOUGHT MAYBE YOU ARE NOT AT THE COMPUTER ..OR MAY HAVE TAKEN SOME TIME OFF...
tHANKS AGAIN... i MISSED THAT FALL...THANKS TO Yahoo charting... Please suggest some Live charting options except google. Any live charting software, you have used and found good ? If it's free software...Great...Or else should be Full value against the money !! Thanks....
If u remember i said supports n resitances will have
no meaning
see it happen
@ GB interesting....thanks fr the reply.
sir
even if v close abv day and hour low ema
THANKS ILANGO sir
@Ankur,Ilango gave a link yesterday:
http://www.quote.com/global/stocks/chart.action?s=%24NIFTY-NSE&chartUi.period=V&chartUi.bardensity=LOW&chartUi.bartype=CANDLE&chartUi.size=620x300&chartUi.minutes=60
Neha
Gb does with time also..i hv witnessed..
Rakesh
hw tisco is a shrt? cn u explain the TF
Ilango sir,
what level the shorts were initiated??
@ Manu ...with time?? means??
As per price movement for the day at 3 pm.
BTST
Scrip Name HIGH-Rs
ACC 868.06
BHARTI 276.67
CIPLA 328.58
HDFCBANK 1906.38
HLL 253.80
L&T 1671.15 OB-W
M&M 591.69 OB-W
RELICOMM 177.25 OB-W
SUNPHARM 1710.58 OB-W
STBT
Scrip Name LOW-Rs Day Week
BPCL 539.82
DLF 249.04 Over Sold
GRASIM 1688.78 Over Sold
HCLTECH 352.62 Over Sold
HDFC 2649.57
HEROHONDA 1887.76 Over Sold
HINDALCO 127.44 Over Sold
ICICIBANK 801.92
INFOSYS 2582.56 Over SoldOver Bought
ITC 272.55 Over Sold Over Bought
NTPC 195.30
POWERGRID 101.00 Over Sold
RANBAXY 409.57
REL 1038.27 Over Bought
RIL 985.36
RPOWER 147.41 Over Sold
SUZENER 51.78 Over Sold
TATAMOTORS 702.43 Over Sold
TATAPOW 1196.98
TCSCONS 719.65 Over Sold
WIPRO 617.58
Ref TAT for details.
@ Manu,
From a bull's point of view:
The premarket View channel is intact. A move below NF 4950 will break it. SO Bulls have a chance of this trend being up based on Channels.
From a bear's point of view:
Prices are trending down and every spike is met with selling.
Neutral point view:
The lows are rising: 4786, 4961, 4967, 4980.
The highs are coming down too: 5148,5071 ,5051.
Now the diff. is just 70 points and it will be resolved tomorrow.
GB bhai are yo expecting gap down mkts???? upto which level ? i am long in banknifty ....as per illango sirs analysis....with closing basis SL of 9240 spot
illango sir should i exit my all longs in banknifty and reverse sir????????????
regards
vikram
@Manojag,
Is it live ?
Please be careful with Oil distributors - news could influence price movement for the day.
vikram - take ur own decisions.
my views remain - we will go down tomm 4930-40
Ankur,
yes
neha
@ 11 this
@ 12 this
@ 3 this
u cn try askng him..he tried 2 explain me but was
abv my head as i hav old monk before trading..
its the best ..avlbl n csd cantteens only
sir closing above 4996
@RG
Are you in long or short..? First time i went against with Sir's call.. so carrying long with small qty
OK GB bhai...but getting confused
illango ji pl. suggest regarding banknifty sir
regards
vikram
@ Manu... Thanks..
@GB I simply cannot comprehend how u cn tell the time?? do u do astro??
Contrary view by Charles Wenner for being long in stocks.
Page 1
http://www.bostonwealth.net/
Charles Nenner, technical analyst to the stars, says it is safe to buy the S&P 500 (SPY) this week for a trade because the big crash isn’t coming until the fall. You should use the current bout of weakness in the Australian dollar to load the boat, probably sometime in July. Oh, and while you’re at it, short gold as soon as it dips below $1,200.
These were just a few of the nuggets I was able to uncover in a wide ranging, extended interview with Charles on Hedge Fund Radio. Why should I give a damn what he thinks? Because he called the exact April 26 top in stocks in my interview with him on Hedge Fund Radio, all the way back on December 12. He then repeated that prediction in my March 11 interview That’s the kind of record that keeps me thirsting for more. While Charles normally charges his top drawer clients a king’s ransom for his views, I managed to pry a few gems out of him for some bottles of the fiery Dutch liqueur, Jenever, next time I am in Amsterdam.
The bespectacled renaissance man hails from Holland, where his firm, Charles Nenner Research, is based. He has a long career that includes stints at medical school, Merrill Lynch, Rabobank, and ten years at Goldman Sachs. He has spent three decades developing his proprietary Cycle Analysis System, which generates calls of tops and bottoms for every major market in the world.
Nenner developed a huge, global following after 2007, when he accurately nailed the top in the Dow at 14,500 and urged his clients to put on short positions when everyone else was steadfastly predicting that the market would keep grinding higher. I have been following Charles’ daily research reports myself for three years, and found them to be uncannily accurate. Today, he counts major hedge funds, banks, brokerage houses, and high net worth individuals among his clients. You can find out more about Charles’ work at his website at www.charlesnenner.com.
My Bols drinking friend has recently had such a hot hand, that he would be the envy of the brow beating Texas hold-em crowd. He put out an alert to clients in mid April to simultaneously short the S&P at 1187 and buy ten year Treasuries ahead of a deflation scare when they were yielding 4%. Within weeks, bonds delivered a ferocious ten point rally, chopping yields to 3%. For good measure, he also put out a short in oil at $88, almost instantly catching a plunge down to $67.
The wily Dutchman sees stocks bottoming this week above the recent 1,033 low, and then launching into a summer rally. Since Friday, he has been picking up early cycle stocks like Goldman Sachs, Apple, American Express, Amazon and Intel to catch the move for a trade.
Page 2. I was not able to post entire article in 1 page.
This is all presaging a much bigger spike down for stocks in the fall. Looking back over the past 100 years, equities reliably delivered 10% annual compound returns. Then in 1990 returns suddenly escalated, and stayed high for nearly 20 years. Now it’s our turn to revert to the mean and overshoot to the downside, bringing stock investors no end of pain. The next swoosh down will be more violent and longer than anything we have seen so far, so fasten your seatbelt. Ten year Treasuries will trade around a 3% band for the rest of the year.
Regarding currencies, Charles has a target for the euro (FXE) at $1.18. The doomed continent will have to suffer many years of deflation to get out of its current debacle. Since hedge funds will be reducing risk, they will be covering yen carry trade shorts (YCS), confining the Japanese currency within a ¥90-¥95 range, despite lousy fundamentals and a dysfunctional government. His favorite currency to own for the long term is the Australian dollar, which will continue to benefit from rising interest rates.
Charles sees emerging markets remaining cool for the rest of the year, but still likes them for the long term. Ditto also for commodities, which aren’t going anywhere as long as a double dip recession is on the table. The recent sell off in copper is especially foreboding. Natural gas looks dire, and could hit $1.70 before it gets completely sold out.
Although there’s a trade here on the short side in gold (GLD), he is still a long term bull, and sees the barbaric relic eventually catapulting to $2,500 an ounce. Silver (SLV) should rise to $20.50 on the next bump up.
Nenner sees a major long term bull market in corn, wheat, and soybeans launching after the summer, once the perfect weather gets fully priced in. This is one of the few areas where you will be able to buy and then forget about it.
hi
dear sir,
can i carry my sell bank nifty ?
regards,alpesh
@Rajagopal
Shall I buy nifty now 4994.
Neha - no astro
cant read kundli
gap down 2morro
@ Vikram,
I have given my views above.
BULL, BEAR, Neutral.
Anything is possible. I'll go by my system of trading and reverse my trade when mkt says so.
@ GB..... WOW.... as i said cant comprehend wot u do then... wud like to know tho???how u cn predict??
Hai everyone
Nifty hourly chart updated
http://niftychartsandpatterns.blogspot.com/2010/06/nifty-hourly-chart-intraday-update.html
thank you
@GB,
Buddy, you are good..But, You are wrong about tomorrow's gap down opening... Tomorrow, we can not gap down unless something really bad happens...
neha i read the chart before it happens - like a forecast
can go wrong
working on my skills
more like seeing the future - sounds stupid but true
Ankur - i could be wrong - time will tell?
okok mayb not a gap dow but lets see if 4930 happens? what say?
@ GB... well interesting... n funny..nyways Good Call.. we better stick to levels tho :P.
else we wud get into trouble.
@Gautam,
You seem to be a clairvoyant :)
If Nifty goes below today's low...we can even go to 4880. I want to see that also...but, market has it's own mind...
bye friends,
:)
Bye Sir. Bye Friends.
Dating Boy became a Darling Boy today.
Manu the Mischi...
@ilango sir,
I wanted to thank you for your call in the morning. I just noted that down in my blog as my trading plan. I did not make any money for other reasons. But u said a run to 5025-45 and then short there. I got in at 5005 and waited till 5045. I could have gotten out but held it because of a long i already had from higher numbers - so i really averaged down. But I froze on the short side. Because I forgot the trading plan for the day. I was so focussed on seeing the ticker that I forgot what I had to do. By the time I realized, it was too late. But just great calls. I have documented my trading plan in a single line in my blog.
Again, hats off to you.
-- gd
http://safegamble.blogspot.com
Bye all :)
No one might have noticed that in last four minutes trade almost 11.25 NF quantity was squared off between 4996 to 5008.If the global clues shall be positive at 9.00 AM tomorrow then we can see a gap up opening above 5025 + very easily.Let us see. Till then Bye Everybody.
Please read 11.25 Lac. Thanks.
@Mynac..
Agreed Mynac... I saw that and that's why I told GB that we can't gap down tomorrow,,
Good observation ...Cheers..
even if there is a gap up - no problem :)
will still see my levels happening tomm
Sir, hourly fast macd is constantly showing
positive divergence
Manoj - I dont know if that would be the right word but
its close
Ilango Sir, Thankyou for answering our qs and your support during the market hours...
@GB/NE
I hve given mobile no. @ your email
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