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 ...
14 comments:
Hi Ilango,
1st of all thanks for maintianing such an educative blog.
May I know how to trade using the intraday updates you provide here ?
@hero
read 8 articals under" Always Start Trading with these" on right hand side and u will know how to trade
Hi Lalit,
Thanks very much for your reply
Dear Sir,
Nifty bias negative and close to the crucial 4965, if broken, a sharp fall could be expected
Nifty (4987↓46) it was dicussed yesterday that the Nifty movement within the green channel might show a pull back up to 5058-5075-5092 and these levels would also act as resistances. The Nifty after recording a high of 5071 reacted sharply to close below the green channel support trend line. As a result the bias has become negative, the Nifty close is at the crucial 4961, if broken would confirm the completion of the pull back rally and the daily trend would become negative.
Nifty trading weak below would be dangerous and would immediately test 4850-4780 levels. 4850-4780 is crucial support for far the larger degree Nifty trend is concerned. Hence, a weak trade below 4961 would be a concern.
In case 4961 level is maintained then on pull back the 5028 which is the green channle support trend line value would act as resistance.
SELL ON RISE WILL BE RECOMMENDABLE....
AM I GATHERING IT RIGHT SIR?????
bhaiya,, dow jones dekh lo phir socho, yeh kya hua? I had 2 lots of nifty shorts,, coverd it in the nick of time for a small loss. Wont short till friday.
@ Illango Sir & RG Sir
Please check out this link
http://www.netdania.com/Products/live-streaming-currency-rates-foreign-exchange/real-time-quotes/QuoteList.aspx?m=q
no resistance seems stopping NF so far, SGX already crossed cruicial juncture of 5028NF, after touching a tip @ 4944 and trading comfortably over 5060 taking clue from green US markets
just if something very negative occurs overnight,
4960 seems secure for now
otherwise markets are supreme u know
Looks like the Dow has taken off. We might see the next stage of a recovery here as well. I wonder if the FIIs will come pouring in.
dear ilango,
you r great ..why?...not just because of ur technical analysis and free service...you are also giviving a free media/space for other guys to advertise themselves...i salute you for that. there have been guys coming on this blog and predicting things time and agaain..some without any logic..just predicting...you allow them all here...some become hereoes in one day (IITian etc.) ...and they same become zero next day....some remain hero next day too and becomee all time hero ( GB..ETC)....these all are great guys in their own sense..but why the hell are they using your site/blog to promote themselves if they have nothing to share than just insight/intuition/god gifted etc....you are giving calls based on some technicals..and predicting things/markets and giving variable options...but these guys come over and start predicting things without giving any reaosing....and u allow them to do so..that is ur greatness ...but...sooner or later i think these guys will start having an influence on ur unbiased thinkina
g....and by then they will be having their own paid sites.....WE MUST REMEMBER A BROKEN CLOCK ALSO TELLS RIGHT TIME TWICE IN A DAY......my request kindly ask everyone to post their comments regarding open/close /future of nifty and give valid reasons..fundamental/technical of their thoughts.
DID NOT MEAN TO HURT ANYONE JUST FEEL THAT INDIRECTLY VEIWS PRESENTED CAN HARM SOMEONE FINANCIALLY
Another thing i would like to add...i am myself memmber of GB fan group and his site...
so there is no personal thing..he is great in a sense that he has proven..but some guys visiting this ite are taking his opinion more than it is warranted for keeping in mind his limited exposure so far regarding his method of predicting...we are students here..as very well addressed evry morning by rm...but there are guys here who want to take students out of school to a ashram where they are tought to beleive in intuition/blind following/inner sight etc...and i am surprised to see some of our senior students falling prey to them and following them...the teacher must step in and say...this is not allowed in my class....either give me reason of your thought or disappear...dont just post...today nifty will close at 50... or 51....because i really feel this is a god damn class..because i learn so much from here...let it grow just like..san,vtrender,mynac....a few guys who gave info about OI etc...wont have time to post in morning so posting now
thanks
@manu mobile
Pair trading notes and links?...please
I will wish you get unending supply of old MO(n)K,paratha and lassi
:))
Kindly take a look at the hns pattern i was talking about:
http://1.bp.blogspot.com/_0omNQHJs2Fg/TA_v42A4zkI/AAAAAAAAAFA/2EmX6uQlRbg/s1600/HNS.JPG
Do tell me if i'm wrong somewhere.
Not getting enough time to sit on amibroker so used google finance for above chart.
anuj :),
manu ? :)
@CM,
Dear Friend, You can not hide a Sun by your palms ......Ilango is a Sun ....Don't worry about his glory... All the visitors coming here and predicting are adding to Ilango's glory...
I think Ilango is happy to see all this crowd on his Blog...I would be happy if I had these many followers and friends visiting my blog..M I Right , Ilango?...
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