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 ...
62 comments:
@Yoda & all friends
How nifty 1 Month Future react to weekly fibo levels @ 5320.18 & 5340.18, 5357.64 today?
Low was 5322.
opening 5342.75
high 5357.65.
:-)
Thanks & Regards.
@ilango sir,
Your premarket view table trade section was perfect. I didnt even see it carefully and missed the long trade. Awesome call as usual.
For other newbies, if there is one thing from the premarket view to use, I would recommend the "Trade" recommendation in the table.
-- gd
Tota sir
my suggestion is do not put sl in beta stocks..
u cn hedge..positionally again uni on d move but rembr
it will b d first to fall(death cross already done) n a correction
Credit goes to one and only
Leonardo Pisano Bogollo (Leonardo Fibonacci)
Italian Mathematician.
Thanks & Regards.
Bye.
@golfdude,
Did you spot the "Fast rise MA set up" in the intra charts...
@golfdude,
Did you spot the "Fast rise MA set up" in the intra charts...
http://www.nsetracker.blogspot.com/
@Arunima
Hi,
I get any detailed notes on using it ?
Expecting reply sir.
sir
5 and 20 ema in 5 min right?
Dear @Golfdude!
Thats why i dont listen others, just respect ILango's views bcoz he never give lose comments even he also may b wrong sometimes. I make my plan & then only follow my plan, if anything goes wrong then checks error to avoid repetition of error. Wish u good luck & take care..
Rgrds,
KUMAR
Sir,
what i witness from the intra-falls is that bears are using even the small falls to exit shorts..so, as said by you..its more probable to see the expiry closer to higher levels.. if 5300 (approx) is breached we can study it again and till then no worry for bulls and we should not carried away with intra-movements..
@assortz
i agree with you, specially 5200 call is getting heavily written earlier when we r at 5200-50 levels, and as soon market is getting closed to 5320-30 levels, itis just getting covered, watching this from yesterday..it might be a precursor to say expiry is moving higher, since everyday spent above 5300 will be advantage for bulls.
Exactly sir...am on those set ups...felt very useful !
5 min frame would ahve given handsome profits today.
am observing hour frame also
regards
@ilango sir,
To confirm, it is the one around 1:15-1:30 timeframe in the 5/20 MA with spot around 5330.
-- gd
thanks anil for the inputs
ilango sir any bad news for bank . bn down
Yes..golfdude,
You see such a pattern closer to the supports planned in the morning.
Being a corrective phase, Nifty also reacts from the resistances....typical of settlement choppiness. It will have upward bias. Trade the positions. If 5315 breaks, you still have very strong supports @ 5280+, and only breaking of that will cause some concerns.
Sir
Went small long NS@5315 sl 5280
bulls are sweating.
Guys nifty intra day trading system Please back test before using it
http://www.brameshtechanalysis.com/index.php/2010/06/nifty-intraday-trading-system/
Rgds,
Bramesh
Hai everyone
Nifty futures has violated the support line
http://niftychartsandpatterns.blogspot.com/2010/06/nifty-futures-chart-with-support-and.html
Thank you
http://stocktipsatobeya.blogspot.com/
Dear sir please give your views on my analysis.
It will be a great encouragement to a newbie like me.
Regards
euro/usd falling...
@ Babu,
If it does not move past 5332 in the next 30 minutes, exit. And raise the SL to 5302.
i dont think it is possible to go below 5300, at least for today, what you say guys??
ilango sir i had short nifty at 5335 can i hold
Sir,
Point taken..
May be better to do this business also :)
http://timesofindia.indiatimes.com/city/mumbai/1-BHK-flats-in-old-Khar-soc-sold-for-Rs-45-cr-/articleshow/6076922.cms
@Ilango sir
Once again hats off to ur pre-market view.
@Gb
Nice work once again but I guess you need to work more on ur timing to gain respect.
Euro once again falling rapidly in the last 15-20 minutes.
@GB
Gr8 call once again GB sir.
@ Soha,
As there are no sell signals, trade the ranges which is presently 5300-5310 to 5350-5365.
Bought 5300CE at 46 it went upto 62 or so, i was happily watching, suddenly started to fall and now at 38. What to do ?? It all happens in market :-).
sir,
and the same during the time 9 - 9.45 am and again at 12.20 - 12.25 pm today.
what is 5315 ?
regards
Today is UK emergency budget meeting, the tax increases would be toughest in 3 decades. So market may come down by expiry.
Hai everyone
Eur/usd trading below 1.23
http://niftychartsandpatterns.blogspot.com/2010/06/eurusd-raising-channel-broken.html
thank you
sir,
i didnt get clearly
if it doesnt reach 5332 in 30 min
exit or raise sl to 5302
Ilangoji,
Took long@5312-18 NF levels today for conservative position.Want to keep it with a SL below 5250 as written in the premarket studies. Is it all right? Is 5302 SL for the intraday trades?
@Elango Sir
Shall I BN now @ 9675
Please guide me
If anyone had made some good trading plans but failed to execute it, share it now as a learning experience.
Today's pivot is "5347".
Day's high ema was @ 5308 in the morning, now 5310.
Hr low ema has been 5335+ in the AM and 5320+ in the PM.
Has anyone done some home works..?
@piyush
exit if its not crossing 5332, change sl to 5302 from 5280-- This is my understanding
Exited 1 lot 5320, another lot will exit at day end coz 30 mins over
@ilango sir,
Guilty as charged. Didnt do any planning today. So didnt trade also.
-- gd
Sir,
No positions over night, so all the day waited for long entry
Sir any one please advice can i hold TISCO for 500++TGT before Expiry please advice wat can be closing sl
@ golfdude,
"You guys" make me do so much "home work....You will amaze yourself if you could put in some consistent time & efforts into these.
Well prepared and planned... you are in a position to "receive the abundance"..that markets have in unlimited quantity.
Sir,
Entered short in the morning @5341 & covered @5322 as per pre-market view. Entered short once again @5350 & covered half @5316...rest carrying fwd for tomorrow.
Ilango sir.. yes there is no sell signal but there is weakness (we have 6 hourly closes @ or below the low hour EMA).
Also as per your pointer to GD http://www.nsetracker.blogspot.com/ we can see that the 200 min MA moving over the 13 min MA (poised to move over 34 & 55 min) also.
Would it be wise to buy @ 5300~5315 without getting futher clarity.
Aioo,aioo Sir, Excuse us for 1 day.
Ilangoji,
As Nifty has not breached the day High EMA yet and doesnt look like closing below it, would I be wrong to hold the longs?
June 21, 2010
Nifty opened with a gap and closed at 5353. whole day it was above the day hema and hour ema,
The negative divergence in hour charts have disappeared.
Nifty pushed thru the upper trendline of the channel
Nifty touched a high of 5366 and it appears that it will touch the all time high soon.
Day oscillators have turned up and week is also approaching o/b
The day hema comes at 5289.
Making new highs will gibe negative divergence and shorting at that point is better.
The pullback today didn’t have any hidden divergence.
---------------------------------------------------
my yesterday evening notes
Sir
written both 5300 ce @60 and 5400 pe @60
total points 120..
will carry 2mmrw..
stocks all cvrd..
@ Nifty,
From the settlement price range, Tata steel trading near the highs of this series. If it can hold above 488-492, it can move towards 510 again.
@illango,
missed MP values today..plz see if someone can provide you..this is must at this juncture..
Sir .. i am the crazy guy with the wave analysis that i had sent over this weekend. I think we might have wave symmetry here
half hearted sir still write what to do
Really thank u very much Illango sir for ur timely and early reply i was also TRailing with SL 492 but want to confirm from My master sorry if i made a trouble
@ Anil,
We have been doing well without MP values earlier too. It is simply a "Price - Volume analysis" which the regular TA chart does...You need to go to the 5 min. chart with volume to spot those "congestion" zones.
good bounce from Day high ema to close above !
sir carrying longs,
ur blessing needed
Europe taking a beating.
dear ilango sir,
i bought nifty call option seeing crossover of hour high ema at around
1pm . later it went further up but again fell down and i booked
loss. hope next time better luck. your blessings are required.
thanks
gopi
Hi Good day,
US Market Daily Update Overviw
http://sharesonlinecharts.blogspot.com/2010/06/watch-daily-foreign-market-update.html
What if 5280 (wishful thinking :-) for someone carrying shorts :-)) is taken out on gap down tomorrow.. will it act as resistance rather than support
@iLango Sir,
Todays hourly values have not given a long signal all day; only daily values giving a long signal.
Dont you think it is risky to enter longs today ( mentioned today morning to enter ) with expiry close by ?
Just wanted to understand the concepts so that i can trade wiser...
regards
Narasing
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