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 ...
92 comments:
hi ilangoji and friends
Alert:Warning,if nifty(spot)closes below 5280
,then it can test 4800 again,pls exit Very Big Long position,as soon as possible.
Anybody here who do Gann date analysis??
Thanks
Ilango sir, if we close below day low ema today, still u
prefer going long.
I m positionally short , looking for 3rd wave down scenario.
(though uncomfortable as against yr analysis).
@Sethuji
sir can i join yr blog.
sir,
NF breaks 5318.Can i go short in this level?
GA All.
ilango ...i hope we are near to our days low ema 5275 and recovered from there...now in a safe mode for longs>..am i right
Govt. okays for market driven petrol price ...Ventura
Markets should close above 5305 Day ema to remain bullish in the daily time frame.Looks like it should.
@powertrade, @ilango,
i saw the 5/20 ema chart in nsetracker. Where do you see the fast fall ? Also 35 pt gain because of that ?
-- gd
@ bizagra,
TA parameters are still in sell mode. Being a corrective type(Unless breaks 5175), keep booking the profits.If it closes below Day low ema also, I would go long small qty as the week TA is UP. There are many occasions, market has bounced back after moving or closing below Low ema. Your "3rd wave down" scenario also has merit in it. The initial stage is deceptive.
@ Ravi,
A small long may be done in 5255-5275 zone. wait to get a better entry.
@GeniusJaggu, what is the significance of closing above 5280?
Mr.GG,5280 is level where bulls will unwind their longs positions..its called fatigue point..if dont believe me,as u wish..
Negative factors
VIX- above 30
S&P- closed below imp.support 1088/1083
Rate hike news on air
Chances of closing below yesterday expiry level – ( AARVEE & Prasant shah’s conept )
Breach of recent swing low of 5290
Highly volatile day…seeking direction from global mkts
GANN trend reversal date – 25/26th June
Positive factors
Continuous buying from FIIs
Expectations of Positive outcome from G-20
Folks, Please add some more positives if you have any
Sir
5300 CE big addition happend ( 1.5 lac)
Thanks Mr.Ilango. TA is great. I bought 5300PE at 110 and sold around 125 thrice since yesterday.
@ gd,
I have uploaded the intra chart for you to spot the "Fast fall set up".
I missed to add another important positive.. master has not yet announced “SHORT” :)
@ Trader, Powertrade,
"Credit" is always yours as the "Judgement & execution" are the most critical factors in trading. I am simply reading it aloud what I see.
Why? A new bee like Ravi(are you new bee??) acted boldly.
One bold decision made "oil" - OMCs are flying as expected(BPCL,IOC..)
===
Anuj - Hi. Rate revision? Looks like the Govt has political will to make Financially Prudent decisions.Petrol revised ? Why not interest ? If it is announced today after 4 - it could be more than 50 bps.(75to100?).(25 due on last and 25 current trench)(up to 50bps market may "digest" the bad news). If it is going to Mon-Wed next, then it cud be lower.(25-50).
Do you hear Sri sharpening the sword? Swing on my way. Now you have led an innocent goat to the butcher. (whole week I am branded animal - hyena,lion,goat-what next?).
@ assortz,
That is a very timely presentation.
"Didn't you hear me ".." yesterday saying - a close below "Day High ema is "Sell on rises". It may get the second approval from "closing below 5-day ema today, I guess".
The larger- conservative sell- has not come yet..(That could be a positive).
The bulls should feel safer beyond 5310. But I feel the fall isn't over yet.
// hyena,lion,goat-what next? // lol..lol..lol
Here comes our great “wiz of words” :)
Hey assorz@ "Continuous buying from FIIs" seems to be +ve for me now.. Even yesterday also they invested ~1200cr equities.
There is definitely uncertainty in west.. but markets like India and China seems to promising for them. When US markets fell ~4% in this week, it doesn't really affected us... Just my thoughts..
@ Assortz,
Indeed well put.
Negatives outweigh positives 3 : 1 ( almost)
Sir,
Thanks for compliments..
I heard it hence holding shorts since last evening :)
Govt. is playing cards today. Very very volatile market.
@ Rama,
Similar sentiments expressed by my critic too. At any time, they have just one opinion. Not like me.!
What a day....big battle going on.
Euro crashing against dollar in past 1 hr.
hello ilango sir..
can u plz guide me about ongc target..seems given breakout
Hey Guys yt hapening in Nf today
Look at chart going to 5290 again sell of @ 5310
again 5290 again 5307 now again 5296
Its highly volatile
It can burn hands of anyone be cautious
SOLD aggressively @ 5300 with a small SL @ 5315.
musti,
This level is crucial if the bulls want to see 5400 by settlement. If it falls to 5150, they'll struggle again the whole month.
Thanks god.. master came to our side :)
@ Imran,
Hold on to your longs of "ONGC". This news will be very bullish for it.
thanks for the chart sir
Ilango
5300 nifty fut ?
thank you sir.
@ Babu,
It is "SELL" @ 5300 - Spot.
And it is "aggressive trade".
Today NIFTY need to close above 5296 to continue BULL run.
Else more correction expected
“wiz of words” hi aZ What animal is this-Dinos..?
"Folks, Please add some more positives if you have any"
aZ is SHORT.
I think RBI will now probably hike Repo rates on weekend.
Yes Sir
Atlast master also come in Shortside
I am feeling relief now
Holding shorts from very lower levels
My, nice to see even Sethu is offering free advice in the spirit of the blog. Good going.:)
@all
greece ready to deal islands to cut debt..
what a day, for those ppl ,really seems to under pile of junk papers(as S&P, and other credit rating agencies are lowering their papers rating)
Also, in G-20 one important discussion seems to be there, which is setting up super regulator or monitoring agency on these so called credit rating agencies...bcoz EU doesnt like recent downgrading of papers of some EU nations, they say we are not comparable to those african nations...seems for covering every problem we setup another problem creating agency...like in india we do with CBI???
i am watching 5300CE and PE for a long time. CE is valued higher by atleast 20 points than PE. People are bullishly inclined ??.
Sir
BN after 9450... Where is another support?. part Book done at 9575, now want to do part at 9450
It's amazing the amount of levels every "expert" throws
around here.
It seems people come here to tell Illango their levels
than to listen to his.
Golf Dude
Here is the link
http://www.nifty.stockmaniacs.net/
Of course, Viren, why else? ^.^
:)
Thanks Rajapaji
Dear Ilango Sir:
For the agressive SELL at 5300 is 5255-5275 area to cover or hold the shorts with reducing SL?
please advice
SIL
Sir i shorted nifty fut @5308 can carry short for monday ???
ilango...i am also bought a put at 5300 levels...how much i can hold it...as per me it may be upto around 5250..give me a direction
Rama - I beg to differ. No Economy is an island. If Europe is on fire Infy,TCS,HCL lost 20% existing business. US,UK,France,Italy are just hiding reality.It will come out. During BAD times, people feel safer looking at their wealth in cash form. It includes the FIIs also. Last pull out was during the Greece news peak. Why not stay in India? Why pull out? We react slowly to bad news? Our Economy is not self dependent - no Economy is.
Sethu Sir - noted
ga viren sir,
how r u doing.
sir,
word verification started again
a beautiful fast fall set up of 2.50 pm in 5 min chart plays out !
thanks ilango sir. Your comments plz ?
regards
@ Viren,
Glad to see you here.
It is an interactive class room. Though they call me "master", I would prefer to be one among them.
one thing i observed sir....the set up is visible and followed in MACD as well !
Holding shorts : Part book or keep it. Why??
In the weekly time frame, it is still a buy. If it closes below 5258 today, then it would be "sell on rises from Week TA".
I prefer to call this only a correction upto 5225-5205. A break below 5175 alone will change that view.
Viren said...
It's amazing the amount of levels every "expert" throws
around here.
It seems people come here to tell Illango their levels
than to listen to his.
===
Hi Viren/Yoda - it is because Ilango is the only non-TA here !!! You must also note that not a single level gets posted if he is "not available for the day".
I am the only one who posted levels applicable for the second,miniute,hour,day,week and year.
===
great views expressed by all members here. Very good atmosphere for all to say and express under the leadership of a person, who has mastered skills , but feels he is at bottom of hill and mastering new ways to get onto the top of hill.
it bounces back from the brink ( 5259 ) !
Amazing sir...
'tuglagh' bhai...zara dekho yeah kamal !!
Tanmay,
Sorry to revert you late due to non available here as you queried about EXCEL INFO that i have already stated it's bullish only traded above 44 for strengh to 48 & 51 level.
So. it had tested 48 level & now traded around 44 again,if you still invested for short/mid term perspective than hold it till 41.50 or little below till 41
If you can't hold then hold till Nifty level 5250 & exit up to 48 level.
Regards,
Pradhan Bhanushali
Conservative trader bought 25%.
Aggressive trader: Part booked.
haha, true, you lion. If Ilango's not here, you're our only hope.:D
Sir,
Looks like week HEMA 5258 has given support for nifty to rise.
NS low is exactly 5260!!!
Sir,
1/2 Qty BN(9575,9450) & NS(5265) Exited, remaining carrying for monday
"Though they call me "master", I would prefer to be one among them." -"The MASTERS"
It wasn't sarcastic, Sethu, unless you're incredibly defensive.
"Shorts" are happy with a close below "Day Low ema".
dear Ilango sir
nifty short carry?
lol @ 'the masters'.
btw, where is mok these days? Haven't seen him around for a week now.
Bought 5300CE at 106
Thanks for your views Guruji..They are thought provoking..
I second what Yoda sir has said.. You're our only hope when Master is not here :)
Viren Sir, There is a great joy in learning the things and expressing what we've learned. When people really enjoy it.. this is what happens..
Ilango Sir must be feeling proud to see his students coming out of the box and expressing their view..
ilango, today i did some good trades. one is i trade a long. and i sold my existing long the other is i take a short at 5300..nice trade with u .and the diff was this is the first time i use spot for trade.thanks ilango. and i also need to clear some dooubts . can i ask it through gmail?
.. well friends, it's not really a day I want to see again. Thank you for being here. You have a great weekend.
Thank u sir.
"where is mok these days?" got a mail response from him Yoda. Tied up for the week. May be you find the ...digit number post during week end.
Bye Sir. Bye Friends.
Long and Short ? Nice look sir. Pant on right and Shorts on left leg?"Prabhu Deva" must be proud.
Sir
Bought 5300 Calls, to protect Shorts
@RG
hehehehe.. you are giving nice weekend laugh :)
sir close nifty short @5277 ,happy weekend to every body
@ Illango,
Just that I came after a long time and was overwhelmed
with the levels thrown around. I saw everything from 4800
to 5800.
Just wondering how many of these gentlemen show up to
talk about their failed trades as much as they like to
shout from the roof-tops about their achievements.
Indeed a lot of masters here!
hiee llango sir and all friens : m back aftar long time due to work was busy: nifty future close is 5286 and expirey of june months close is 5317 so now we r trade below to 5317 so mkt enter in barrish side .. now bull only hope to close beyond 5317 other wise mkt is drage down .. thanxs regards prashant
Dear prashant shah,
Your last month strategy also worked very nicely.Now for this month again we all will watch 5317 very carefully.Yesterday Dear kumar was searching your mail regarding this strategy which worked nicely.Please do post whenever you get time.
@RG,
lol on prabudeva..
@Viren,
good to see you back :)
Levels – i consider those as “ audience view” in TV “ movie critic” .. excited and exaggerated..
Bye all..
I illingo ji i m silent follower of ur blog and
truly appreciate ur efforts keep it up sir
@geniusjaggu
I do agree with ur view close below 5284 spot
gate open for 5158 and 4848
thanks regards
@ prashant shah,
can you invite me to your blog http://navnnit.blogspot.com/
my observation
small bullish wolfe wave developed in nifty 5 min charts today between 12:30 to 3:30.
Free Nifty Tips daily -
http://nifty-tips-calls.blogspot.com
Get Free Nifty Tips at Nifty Tips Blog
Nifty witnessed the yet another correction from the higher levels. Now in the next week we could expect some more correction in it. in the downside the 5200 would be key support. Closing below this support could slip it till the lower levels of 5115 to 5120 in short term. The short term resistance zone now we could see close to the levels of 5345 to 5350.
Plz Comment On this Sir
Hi everyone,
This is my first post on this blog.
Watching at US Market close on Friday - i think Asian and Indian markets will open higher on Monday and Nifty will open with a gape-up of around 40-50 points.....I believe NIFTY will touch 5350....and NIFTY futures are trading with a premium of 17-18 rs. that shows that the trend is clearly BULLISH....
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