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 ...
12 comments:
Ilango Sir,
What made you to change your view at 11:34am to exit the aggresive shorts and then again you removed it?
Thanks
Sachin P
Ilangoji,
Is it possible that the current downmove is the 3rd of A? Would moving below i of 5th open such a possibility? Or there is some other kind of validation point? In that case, would the target be 1.618*A?
The daily MACD has a lot of space to go down.
Hope I am not disturbing you. Just trying to learn.
Dear Ilango Sir:
Since it seems the Trend Reversed to downwards, is it a good idea to sell the portifolio of IFCI, UCOBANK, LICHF, HPCL, BPCL, IOC and buy them once the market correction halts/ take support?
Though i have bought 3x5400PE-August and 2 x 5000PE-September yesterday as a hedge to my 5-6lakhs portifolio;
Is it a good idea to hold on to my portifolio with my hedge;
Please give your advice;
Many Thanks
SIL
@ Sir
Thanks for motivating to take timely decision. For last few days i was feeling uneasy as market was not giving good oppurtunity to exit longs. Today together with your guidance, i got my longs out and initiated shorts @5284.
But really it was like too much patience was tested, but in the end, we are on right path.
The Nifty closed at 5386.45. Nifty future (July) closed at 5384.80 i.e. at a premium of 1.65 points vs. 4.35 points
and shredded -13200 shares in open interest.
The Nifty future (Aug.) closed at 5390.35 i.e. at a premium of 3.90 vs. 10.65 points and added 430300 shares in
open interest.
Interpretation: The Nifty future prices ended in red terrain along with overall addition of open interest and
decline in the cost of carry, this is an indication of some shorts being built up at higher levels.
The Historical Volatility of Nifty future is at 17.95% vs. 18.48% and the India Volatility Index (VIX) is at 20.71% vs.
19.70%.
All Stock future Tips and Nifty futureTips you can get from my blog. You can also check it Stock Futures tips
Hi illango,
Today i read your pre-market view...it is very opt and the market fallowed your map.Welldone.I have never seen a person with such a passion and dedication..many days i am unable to update my blogs...but u do now&then.
Dear Sir, what is your opinion on nifty, could it regain its weight within two or three days?
According to me tomorrow, market will trade within the range of 5350-5430. On an intraday basis, Nifty spot should find (PIVOT) support near 5,342 & 5,315 level while the resistance will be at 5,405 & 5,442 level..
Get Nifty Levels For Market Tomorrow(21st, July'10)
today market fell in last 30 min,was it being deliberately done to get sl hit for longs and inducing more ppl to create shorts as it closed below 5dema and trapping them tomorrow at open,brazils bovespa is nearly 1.5%+
NIFTY INTRADAY TIPS FOR 21' JULY'2010
SHORT NIFTY BELOW 5410
IF SUSTAINS WITH SPOTLOSS- 5432
TARGET- 5391 -5378 -5359
SOURCE :- http://freecashmarkettips.blogspot.com/
FREE DAILY STOCK & NIFTY TIPS
US Stocks erase big losses to finish higher. Dow closes up 76 points; Nasdaq, S&P both gain more than 1%...
Nifty witnessed the correction from the higher levels & in the end closed near to the support zone of 5350 to 5355. In the downside the next crucial support zone seems to be around the levels of 5290 to 5300. Decisive closing below this support zone may drag it till the lower levels of 5200 to 5205 in near term. We recommend that until it close below 5300 one may go for buy on dips in it for the upside targets of 5450, 5500 in near term.
Nifty Tips For Tomorrow
Good Morning
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