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:
Nifty futures at a premium to spot. First time this series and does this portend an upside break out?
if markets keep rising like this, i think, this wud be the most HATED rally
hats off to I LANGO sir
for his 5035 & above
50"60" approaching. Jump Nifty jump.
Elango sir
Shall I short nifty now at 5062 SL 5081 (R2)
Please reply..
ilango sir,
sofar we have seen movements as discussed in pre-market view..green arrows.. we have already discussed 5070 levels to short..
is it ok to book longs here and short or should we carry this long as conservative one?
Elango sir
Stoch indicator near 100 overbought zone
If market slips deep fall ??
Day high EMA is around 5064, then weekly high ema 5121
JUST BUY & HOLD - Dollar has broken down.
@Rajgopal..
50"60" is feeling the pressure again.. we shd all turn into cheer leaders and push it up :)
SIL
Ilango sir, my long just saved today, sitting against yr levels is very hard.
Thanks
respected ilango sir thanks i had by nifty at 5040 pls also advice me when to book profit . very very thanks to you sir
Go Nifty go above 50"60"... go go ...
SIL
@Rajagopal
Stoch indicator near 100 overbought zone
If market slips deep fall ??
@bizagra
even i went bit early, coz sir told about BN @9225, at the same point I went long in NF too. When NS reached 5035, Sir comment made me to hold long in both, then BN broken 9300… Now my sl is BN 9300
@Sryasdmurali..
Ilango sir many times mentioned that.. an indicator can be in OB or OS for long time.. so we need to see other indicators to take action..
so please be with the trend with proper SL to preserve ur capital and profits..
SIL..
Hai everyone
Triangle updated
5068 will be the next resistance
http://niftychartsandpatterns.blogspot.com/2010/06/triangle-seems-to-be-winning.html
thank you
@sethu..
NS just peeped above 5070 (5071.xx) and dropped back... letz see if there is still steam left.. currently we are cheering NS to be above 5060... :)
SIL
Intra players can book above 5070.Spot
@ilango sir,
I am holding longs from 5140 levels. I averaged down a bit at 5030 yesterday. I am at a small loss now. I am wondering with 5080-90 a resistance zone coming, what your opinion is ? Appears the daily trend might turn up now ?
Thanks
-- gd
significant addition in 5k puts...total 80L...30%of it added today...
i am shor in nifty what is a sl plz tell
Sethu - keep BOB,YES with PNB. All are over priced,but corrected a large bit.
NF fills gap, but not NS
anybody short NF ????
sir i had miss to book at 5070 can i hold it for tommorow
@ gd,
I would keep 5025 as a SL for Longs.
Nifty is clearing each resistances now - has cleared yesterday's high 5050.60, Two day high-5071 and will attempt other resistances with brief consolidations.
If the close is firm above 5051, a decent rally should take it first to 5105 and then if it comes out of the major trendline res of day, more higher levels.
SIR CAN WE SHORT HERE????
Dear Mr Ilango. I have sent you a mail. Would you be kind enough to look at it & respond at your earliest. Regards Raheja
HATS OFF to I LANGO sir
for a "above 535"
&
a book out " 5070 spot "
KYA BAAT, KYA BAAT, KYA BAAT
though i must admit i did not hav a conviction for this rally
@ Soha,
No need to panic. If closes above 5051, hold it.
@ilango sir,
Thanks.
-- gd
I am short,,, ill keep my positions. Its a suker rally.
San - mind checking Mr Ratan's health? Nano,TCS,Steel - can it come in a single chart? (c what happens if u encourage people?).
ok sir thanks . sir thanks for you valuable advice
@Sryasdmurali..
yes 19L vs 6L but we can not go by that.. they can manipulate it for sure..
so letz stick to our group and MASTER's lessons/ guidance..
Buy in Dip with proper SL.. is what i am doing today..
SIL
Ilango sir now can we take 5400 to 4785 as wave 1(or A)
and from 4785 wave 2 (orB) going on.By this 68.1 ret. comes
to about 5200.M i learning right?
Thanks
Dear Gautam!
U gave so many wonderful calls so one or two wrong call does not mean anything. This market has a very bad habit to give some bitter lesson to everyone at different different times so don't worry & take a lesson, it will sharpen ur weapon more. I always use stop loss with my trade & i think that is the safe way. Wish u good luck dear....
Rgrds,
KUMAR
Gautam sir
I am nifty short around 5030 (nifty futuer) still hold what to do now ? shall i book d loss
Thanks for reply
A big "thank you" to the "Option Interest" experts who have been pointing out the "Unwinding of CE and addition of PE".
Ilango sir
I am nifty short around 5030 (nifty futuer) still hold what to do now ? shall i book d loss
Thanks for reply
Hai everyone
us dollar's resistance line
http://niftychartsandpatterns.blogspot.com/2010/06/us-dollar-hits-resistance-line.html
@raja sir
Let me see the health of the charts (tata steel and tata motors). will update later
thank you
@Manu,
TISCO Breaks the Down Trendline...
Hope it is not the false one
:)
Illango Sir,
Do you think now @ 5070 is the right area to enter long ?
SIR, SHOULD WE BUY 5000PE
Ilango sir,
You had mentioned in the week end analysis as, "Grey:(Bullish with immediate short term bearish) - This one has completed "a" of the "2/ B" and has started the 'b" from the high of "5147" ,can stretch upto 4960, 4935, 4885. If it holds any of the three levels, it could start a bullish "C" wave up targeting 5200 - 5260".
Is the bullish wave unfolding sir?
Tota..
no no its the purest form of tisco..
see 480 put oi data ..its getting hedged at every lvl
Sir
When nw Pandav will meet Kauravs in tisco
Sethu - noted. Looks like a basket trader - i do have mine. Never thought smart to BEAT the market. Just sail in a very safe boat called M.V Just Nifty which has a seasoned Captain. I have picked up the earlier scripts that you have cited - thanks. Both banks I cite have risen from stiff resistance levels in recent past to dole out good returns. Hence I suggested. PNB and ICICI are my permanent fixtures with SBI.
Please keep feeding on what you spot. I have a narrow vision. Not more than 20 counters at a time.
@ Vijay,
I present my views as the market unfolds and according to my perception.
The strength it has shown to hold 4965spot, it is poised to go to 5098-5105 tomorrow. A close above that will give more strength to the bulls.
Whether it will weaken tomorrow at 5105+ will be known only from the way the prices unfold.
I would suggest you to exit @ 5050-5060 zone.
Manu - you are asking "Bhishma". Only Krishna wanted the war.
(don't object PS - i have my logic).
@Sethu..
your 5092 comming... good job
SIL
BNF discount melting almost
Thanks sir
@ Satheesh,
Yes. Your perception is correct.
Thanks sir. I felt I had worded the comment in a big mess and so deleted it.
Tota mit
i c 2mmrw a gap filling in tisco..
i m not a good student of gap theory..
u throw some steel in it:)
MARKET GIVEN A LESSON TO PREDICTOR
@all
any move towards 5105 should be watched with caution..now we want to protect our profits..so just be there dont be casual...
5099 is 5ema monthly
5096 is 5 ema weekly
5080 weekly pivot
ilango sir ,u missed my query...i think i m learning EW wrong.
Hi Ilango,
Is it adviced to hold longs for today
@ am
it was just intra ..fr positional he made me go long..
just chck d posts
@bizagra,
Only undergrads get answer from the master.You have graduated with Gold Medal hence master focusing on other bright upcoming students.:-)
Sethu.
"Time and again I do this like a kid" just sums it up. We have quite a few in this place - I am the KIDDEST of all. Most welcome to do it. Remember I am entitled to be the KID - just completed my FIRST year in the market. What a world mate - Fractions of second is the wall between JOY and DESPARATION !!!
Nice to have you around.
@all bulls
for ur enthusiasm.
highest put OI got shifted to 5000 from 4800, lets see it holds till EOD..it will be major achievement for bulls..
25 lacs OI added today in 5000 put...
Dear Sethu..
Your 5092 is teasing you.. but i am sure it will achieve it today.. kept NF tsl as 5070.. if not carry for tomorrow.. as MASTER mentioned if 5051 is held BUY and HOLD..
Thanks a ton for all ur inputs..
SIL
Dear Ilango sir!
Hats off to u for ur temparament, u never carried away by all khichdi analysis & that shows ur stregth. God bless u, keep it up...
Rgrds,
KUMAR
@ bizagra,
One of the foremost factor one should possess to "learn EW" is "Believing in what you see".
You are seeing it correct..Now believe in it.
My certifying will not help you but will cripple you. However, markets will correct you.
Thanks Ilango sir
@RG,
Doing like a kid and being a kid is two different thing :-)
50922222222222222222222222222222
Hi Manu,
u have the steel bar right? not the block? (Long?).
Hai everyone
Tata steel inverted head and shoulders break out.
http://niftychartsandpatterns.blogspot.com/2010/06/tata-steel-inverted-head-and-shoulders.html
Thank you
Manu,
I am also not very good in GAP theory..
it seems that TISCO has made small Inv.H&S with neckline at 470...
giving 20 points moves atleast, will confirm on EOD.
hope this 20 point will also fill your gap.
see, these days lot of "Heads" are popping out of their "shoulder" doing nothing.
Congrats Sethu..
Great work.. 5092 +++++++++
SIL..
@manojag
:):) plz dont make fun of me.I thaught master is fed up of
his dumbest student.
Hey SAN,
see, I told you once na... sometime we look on samething.
when you posted your comment... I was typing mine and both has comeout with Inv.H&S
Gr8
bhishma sir
reply even eod will do:)
@ Suchislife,
I forgot to mention why a close of 5051 is required:
As Nifty has been making lower highs continuously, a close above the previous day's high is a sign of strength. Yesterday's high: 5050.60.
Similarly it goes for downside reversal too.
Dear Ilango - also please let me know how did you pinpoint 5035 as reversal - will help me - regards Deepak
Thanks Ilango sir..
before learing the TA tech.. first i thougth i should learn to trust the MASTER from whom i am learning.. so i want to follow your instructions correctly then start learing TA..
Thanks again for ur time..
SIL
So i went long this morning
@ 5020 closed at cost
@Amit
I was looking at nifty went towards tata steel and tatamotors because of raja sir. Missed nifty's up move.
And about tata steel it has broken out of this IHS But has strong resistance at 477.
thank you
5250 or more in 7-8 trading days after which we head to 4800
in 2-3 trading days
Thanks Sethu for the details..
@Ilango sir.. i mean to say..
"i am learning to follow your instructions and teachings religiously without skipping any classes n steps..."
SIL
102 posts in 90 mins - more than run a ball? Great going.
Thank you Sir. Thank you Friends. GB hope the journey to 52xx is on. Please warn for speed breaks/skidders.
thanks sir , bye
bye friends
sethu congrats on 5092
u r yet to tel me what tarkuri line is :)
Dear Ilango sir!
one small suggestion --- kindly show the intraday position & positional position in nifty with each update in one corner if possible. thanks
dont worry RG.. it will happen possibly even more - 5300?
@ Deepak,
It was 5040 initially and as the hours rolled by it was brought down to 5035 which is the boundary line of the small triangle Nifty was forming last 2 days.
If you have a chart - draw parallel lines- you will be amazed to see the many resistances & supports it can throw up.
The Premarket view's 5-minute future chart is a great example.
@RG,
whats your take on TISCO?
sorry, I am very bad in reading b/w the lines.
Thanks
San - Thank u. 477 TISCO ? Will keep in mind. Will it mean add above 477?
@ San,
Your charts are very impressive and very informative too. keep going great!!
Yes raja sir if it crosses 477 it can go higher. Let me update the eod charts after sometime for target above 477.
@satheesh
thank you
@Ilango Sir,
ur levels n timing of call are perfect... hats off to u...
@GB, EW wise I think wot u say wud happen... 5250/60 n then down to 4800 or so
I just posted 30 min chart of yesterday and today in my blog to show how just playing MA crossovers are dangerous to your wallets. Check it out...
http://safegamble.blogspot.com/
Thanks
-- gd
Ilango Sir,
I bought nifty put at 75.00 but now 43.00 shall i hold or sell 2mrw. pls advice me
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