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 ...
36 comments:
@rg bade &chote bhaiya must now be taking profits or part booking to reenter RIL bse and nse showing clear signs of jobbing and arbitarage as bse cash is rs. 6 higher than nse cash of ril
Noted Bhavan. I don't dwell so deep - your point is educative. Thanks.
today seems a
" na tum jeete na hum haare "
kinda of a day
brokers day out....
also nifty future i.e. mininifty open high are same so less chances of
+ve ending imp us uk data also today
reliance taking 26% stake in rcom,,,,,,, pl chk at your end
If true, is it step 1 of RNRL+RIL ?
Hai everyone.
Hai nifty is showing negative divergence in hour chart. But one should remember the daily charts trend before going short. Above day's high one can go long.
http://niftychartsandpatterns.blogspot.com/2010/06/negative-divergence-in-macd.html
thank you
rcom is under heavy debt and so will deploy all neans for salvaging and what better option
then covering family pride
rnrl was basically created to show loses in
ril and has a small premises office in RIL space as a registered office so may the existence it self may vanish and now a direct gas deal between ril rpower rumoured so it has flown high
test
it has created a double top today
@rg ? is btst today
@ Illango Sir,
Whether to carry shorts for 2marow....???
Sir can shorts be taken home created @ 5245 level
Or to exit itself today.
I will ofline & do as per U guide.
Thx
ilango sir i had short nifty at 5245 can i hold it for tommorow
Break levels
Nifty - 5225
TISCO - 484
Unitech - 69.8
That is what I call pin-point accuracy by Ilanoji!!! Stopped exactly@ 5250!
Hai everyone
Dow jones and nifty hour chart.
http://niftychartsandpatterns.blogspot.com/2010/06/dow-jones-and-nifty-hour-chart.html
Thank you
Tech. table has not given a sell but other parameters have given a sell for the shortest term.
-ve div persists. Price weakness was fleeting and not yet persistent.
This will be once again a "high risk shorts".
I wish to carry my shorts created yesterday. Tomorrow, we may see some weakness.
Ilango,
what does the price action of yesterday and today denote?some kind of a running correction of the rise from 4961 or topping out(distribuion)?
best
@Bizagra!
Are you carrying nifty future short for tomorrow?
sir,
all these days intra dip is making new highs in 2nd half ,
today it cud barely touch the highs made in 1st half
How a novice understands?
===
NIFTY has taken the corrections intra day, but remained in +ve zone largely. Neither the high volume profit booking nor the Short covering happened. On its own our markets stand steady on +ve news flow (performance+advance tax). The hesitancy to move forward is due to the mixed global cues. EU+US have demonstrated a willingness to be decisive (in opposite direction) after 3.30. Hence by and large the positive trend remains. But I keep my insurance short live.
@prabhakar
Yes i m carrying, if not hit my sl 5250NF today.
@ Manojag,
The numerous negative div we saw in the 5 min could be attributed to a 3rd wave kind of move - prices only dipped briefly. With today's action, it looks distributive because after being sideways for a long time, they broke down.
It could be a 4th wave from the 4967 low. 5170-5190 is an ideal place to end it. Beyond that may move to 5140.
Thank you Bizagra.
Nifty, Unitech, TISCo... all stuggling at break level.
Ilango,
thanks but could it be 2nd of 3rd and then 3rd of 3rd could be explosive on the upside.
best
Yes..Manoj,
That is very much a possibility. Big stocks such as RIL, L&T, Hdfc look set for such a big rally.
1st & 2nd are always deceptive.
Ilangoji,
Took shorts in Bank Nifty@ 9600 spot levels with SL above 9620 as stated in Stockwealth and also after seeing Negative Divergence in both RSI and Macd in the hourly charts. Should I carry it? What could be the possible targets?
@ Fire,
As of now, we are looking at only a correction to the rise.
9600-9620 being strong resistance, BN may have to consolidate(read as correction) if it wants to take that point.
9490-9360 is the zone to end that correction. Will fine tune it.
Ilangoji,
Thanks. Will cover at the said levels.
Bye Sir. Bye Friends.
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