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 ...
30 comments:
Today's range : 5050 to 5130. Close : 5060 +/-20
Good morning Sir
"last traded" cell not updated.
Good morning all
My 2 cents...based on ilango sir's tables and comments...experts please correct if wrong.
At open: Asia down .5-1%. Nifty - watch for 5080/5053 levels. If stays, then BUY.
5070-5080 is trendline area of previous downtrend.
At close: If close below 5077, then SELL at close.
Intraday: 5130-5150 is short area. 5050-5080 is buy area. 5104 is pivot - so runups can be till there. These reverses ( become buy/sell area ) if it does not hold.
-- gd
good morning Ilingo sir n other blog mate i m new to this blog
Hai everyone
Nifty daily chart updated.
http://niftychartsandpatterns.blogspot.com/2010/06/nifty-analysis-for-third-june.html
thank you
Good Morning all.
goodmorning sir, friends,
hi RM, AZ, san
Good Morning ALL
"No one can make you jealous, angry, vengeful, or greedy–unless you let him". -Napoleon Hill
Good Morning Sir and Friends.
hi UKR, you come up with such gems...
hi RG
:)
Sir-Thank you for the clear reply.
mok,Yoda,Sethu - Thank you for the inputs. Presently will stick to the format as per majority view. Sethu's consideration could be the less number of counters to focus, as PS once remarked to tone down the number of indicators to avoid complexity.
Will work on the suggested lines to include the 200DMA aspect.
Thank you.
Dear mok
Just copy & paste
UKR, still the kind of ones we can think for not only today :)
@ Mr.Rajagopal
Good Morning
Shall I hold nifty now bought at 5090.
Tgt please.
good morning sir and everyone.
Sir everybody is looking at the inv hns that is forming on the charts specially after the breakout of the channel that happened yesterday....but isn't there a possibility that we may be in the process of forming another hns if we give a close near 5000 within the channel once again either today or monday. In this run to 5100 most of the counters didn't participated in the rally and are still trading below 200DMA. I know it's too early to say but still....
Hai everyone
Nifty's range shown in 15 minutes chart.
http://niftychartsandpatterns.blogspot.com/2010/06/nifty-15-minutes-chart-range-of-nifty.html
thank you
Sryasd... Refer to our PM view (above table). I do not focus on NIFTY.(Why pamper the cow when milk is available everywhere?). Just go by Sir's levels. Keep watching when Bizarga,Prabhakar,Sathish...ask queries on NIFTY levels/EXIT/SL.
Another circulated view.
It has support at 5070 and 5030 and faces Resist at 5115 and 5160. PIVOT is at 5090. Yesterday, it made a gap at 5019.90 – 5061.55. If this remains unfilled then bounce would take it to around 5140-70 levels. Opening session may be slightly muted.
sir we need to close above 5090 to keep weekly ta good
Forget to add.....Dollar is once again strengthening against major currencies
sir if nifty doesnt make a high today at
5090 close
it goes below high ema today .
will this be a correct way of analysing?
hourly chart 9 rsi clearly showing sell signal
could i go short here, what is the SL for shorts.?
Yesterday discount came down to 10 points
now it increased to 22 points again.
ilango sir,
I dare not to trade in BN yesterday. Can positional shorts be taken at 9450-9475...?
-arpit
Sir
Hr 9&14 RSI OB. ORB sell.
Shall we follow ORB for intra.
Hai everyone
Nifty hour line chart is beginning to form a rising wedge. The pattern is not fully formed. Since the pattern is forming in the line chart. A break out alone is not enough, Index should close outside the trend line which it breaks.
http://niftychartsandpatterns.blogspot.com/2010/06/nifty-hour-line-chart-rising-wedge.html
thank you
Axis,Bajaj Hind and Yes Bank are very restless for an intraday upper move. Watch closely.
NEW POST DONE.
Gm Illango sir & all blogmates
Hello Illango Sir
yesterday hourly chart was overbought..
i would like to know whether it has generated sell signal
or not..
thank you
it needs a trigger, indian brain never independent
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