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 ... -
Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor... -
If the steady FIIs inflow reflects in the prices, 5405 should be protected going ahead and market may encounter minor corrections and keep m...
77 comments:
@Prabhakar,
Congrats. Which IIT ?
I was 1989 batch. Only top 100-125 got into CS those days. Now I hear top rankers take not just CS. Those days it was CS or Physics ( nerds ). Also those days only 1500 seats. Now we have more seats and IITs.
Tell him to take it easy. Because once school starts, he will be squeezed. :)
@Yoda,
Thank you very much. I observed S&R trading method with your questions and Sir's answers. I tried previously. I earned 200 points and I given 100 points to market. I stopped that system.
hey GD...IIT product??..saltuations man ! yes, that was a highly competitive time. What was your rank ? What are you now ?
Thank You PS. Lot to learn from you.
===
Congrats Prabha. God bless your son. Read about the 23 years old Phd joining IIT-Mumbai as Associate Professon. Youngest IIT Professor !!!
===
sir
plz update stock files on stock wealth..
and congrats to u and ur team(esp d one who ws ill)
@golfdude,
Thank you. Mow there are 10,000 seats all over the country
Prabhakar,
SAR works well on a very long time frame - for intraday it is quite useless. But say you take SAR on a positional trade, it should make money.
The problem is finding a system for the short term with a long view of the market. I guess only working with tech tables/charts will give us that.
Hi Gauresh59,
All pdf files been posted except 1 file. Indicating results. Nowdays, I am regular vistor to this blog during trading time, mainly for learning & gain knowledge to use for making strategy for trading.
Is it possible to post Excel files with formulas to learn & create our own strategy for trading to suit our capital & risk capacity.
Bose
Thank you Mr.Rajagopal. Where can I get the info about that Youngest IIT Professor?
@prabhakar,
it is tathagat from patna. 8-12 years ago he was a child
prodigy went to us where the profs told that he has just miugged up
physics and doesnt really know the concepts well.he was just an ordinary child.
Prabhakar,
http://www.thehindu.com/news/national/article514228.ece
Hi
MySAR_A levels for HeroHonda and RelInfra are given 1980 and 1168 and both hit today for long positional trade in future segment. But if during the day prices go below these level one should cut his trade and reverse it after 5 - 10 minutes.
In short one should watch these MySAR_A level and should remain long above it and remain short below it.
-gauresh59
prabhakar sir..
congrts 2 u and family..best wishes fr son..
Today Infaltion data also to watch for !!!!!
Dear Prabhakar!
Congrats a lot for ur son, God bless ur son. My cousin was expired in 2002 & my nephew was shocked that time. God blessed him fully & he suddenly took huge jump in his studies in only one year. This year by God's grace he got 476 rank in IIT, got admission in IIT, Mumbai.
Rgrds,
KUMAR
@ gauresh
Can U guide for Colour indication of your
file & if possible try to give link before
market
thnx kk
Thank you Mr.manojag, manu.
Thank you Mr. Kumar. I am sorry to hear about your cousin. Best wishes for your nephew. God bless him
Good morning Ilango sir and all,
Prabhakar sir, convey my Hearty congrats to your son.
@Piyush sharda.
Thank you for info. I think now a days there is no chance of getting a good IIT rank by mugging, because there are chances of sudden changes in the question paper pattern. This year the number of questions in paper I was increased by 24 and there was a fault in the printing of OMR sheet. The two changes were known by the students only after there allotted time started. So time management became difficult.
BN looks a great oppurtunity for selling
@ Ilango
http://1.bp.blogspot.com/_88fjmcdhjs8/TD1DaXUsXzI/AAAAAAAACWo/K4Hffp-gqBY/s1600/NF+and+Volume+14-07-2010+10-01-04+AM.png
not tryin2b to extra cautious...but is this volume pattern normal..if also looked in tandem with the FII chart;
http://farm5.static.flickr.com/4093/4792030873_6b4f4b9202_b.jpg
Will your fifth extend now to 5550 which is also the approx channel top (visible better on the weekly chart)!
Cheers!!!
Thank you very much Mr.Sateesh
Today I can't see SUBSCRIBE Comments link .. below post comment.
Is anyone else facing this problem ?
@ kkay,
So far as Close column is concerned, if today's close is above yesterday's MySAR level, the cell colour is green and font colour is blue.
And so far as Close column is concerned, if today's close is below yesterday's MySAR level, the cell colour is orange and font colur is brown.
-gauresh59
@prabhakar,
ur son cracked after this trouble. it calls for double
celebration
rgsir,
cement has been correcting last few days, acc on its support
anything worthwhile for long
@ gauresh
thnx 4 d info.
kk
@ka,
Long time. Burnt out and semi-retired at 39. Midlife crisis :). Let us talk something else.
OMG, everybody seems to be scholar here, am i the only worthless photographer breaking the queue and trend???
PS : Everything will go with the wind. But results and immediate outlook not great(monsoon curtail cement consumption). Can v try ACC? I am in G A cement 107.80.(just 1 lot).
Hai everyone
Nifty spot hour chart analysis
http://niftychartsandpatterns.blogspot.com/2010/07/nifty-hour-chart-with-gap.html
Thank you
Ashish,
You are not alone, lol.
Rg
wht s inflation expectation(is fuel hike priced in?)
Manoj this is an excellent chart. Where from have you got this chart from or where to see this chart ?
Good morning sir & friends !!
Sandy...
Kaunsa chart???
lolzzz crorepathi....u too....disclosure needed...
Dear Ashish!
Why feeling alone, jump in family & greet family members. Market is also in consolidation mood so better to join in happiness of this blog's family & when market calls u, just do ur best.
Rgrds,
KUMAR
rg sir,
they have been with a downtrend, are at supports showing divergences
it is risky buy if it it turns will give good money.
if the whole setup crumbles we need sl for it
Manu - not good - fuel hike affect food items higher - "good monsoon goli" ready. Will it be the first correction trigger?(just thinking loud).
Manu possibly it may come around 12 %
Tryingtotrade Manoj - FII data vs nifty progress chart?
PS : Ok. Entering @ 807. VIX indicated Low for the day(N50) indicated "Down" trend also. (Aug Futures).(801 SL).
===
Manu - covered Uni Short - Long 83.50. Just 1 lot Aug.
@Ashish, I am also there! ;-)
RG : The monsson efect on inflation may be considered after the monsoon months as there may not be any immediate effect on food prices
@Ilango Sir,
I exited from my short (5386) today at 5323. Could you please tell when i could re-enter on long?
Sandy...
Oh that's from my blog;
http://tryin2trade.blogspot.com/
Cheers!!!
I know but the source for you is ?
@ Manoj,
Individual stocks have shown the volume, though it has not spread to the overall market yet. That is a concern.
We are in a dark tunnel with a torch that shows only near term.
Accordingly play by the day. The expected resistance point arrived at the open(5455-5465) and now to see whether it closes above 5395 today.
As long as it stays above 5390-5400 zone, the time correction could take care of further upsides. If not the quietly developing negative divergences may take its toll.
Nifty at day's low....NF yesterday from 16-17 pt prem to flat...top (atleast for this expiry) in place?
As per options data I expect expiry below 5400....may be close to 5300.
@Ilango sir and all,
correction, exited at 5423.
@ gauresh59,
there is a "strange" similarity between yours and dinesh rishi`s (bankniftytrading.in) SAR system.
what do u have to say about that?
@illango
from few days back u consistently telling abt fii;s buying and other blogmates too..thanks..
@tryingttotrade
Excellent analysis, good one...
@Ilango
Thanks....so for anything like conservative longs the stops should be 5380 (nearabouts)...and space only for intra shorts as of now???
@ Sandy
The charts are made by me in metastock...the fii data was tekn from se site in an excel file and then converted to meta format...
@Anil
Thanks...
Cheers
India Inflation rate was 10.55% in June.
April inflation revised to 11.23% from 9.59% earlier.
Thanks a ton Manoj
@Prabhakar,
Congratulations!
@San
Can you please check the Infy chart? Looks like it has come quite close to the channel lower boundary.
With a combination of 13 Min EMA and 34 Min EMA nifty trying to develop a fast fall setup
powertrade, I think it will resist any attempt to fall because of the upward momentum.
@ Prabhakar,
You can attempt the Long now. (keep 10-15 point SL)
For the last 35-40 minutes NF is getting resisted right at the 34 EMA in the 5 minutes charts.
True yoda but i feel once we would touch 5380 level as market will try to check the strenght of this rally......
We need ta breif by the master at present Already i am short at 5438 just waiting for the confirmation of 5380
rg sir,
in cash it shud hold 800 levels. hope u come out
happy of it.
@ Powertrade,
I see those emas from
http://www.nsetracker.blogspot.com/
And in that chart 13min ema is above 34min ema. Hence, no possibility of fast fall set up. Fast rise possibility is there but not so potent.
Are seeing it in any other software..
Thank you sir
Thank you FIRE!!
Thank you Ilango Sir. I believe, it is for this Prabakar.
Cz of multiple charts opened i saw it wrong
Hi,
In Ichart also 13ema above 34ema in 5TF.
Bose
@Prabhakar (Rabindranadh)
Your photo is missing today
Ilangoji,
The 9 and 14 RSI are coming out of the overbought zone in the hourly chart, but still no sign of negative divergence as per my observation. So the possibilty of another new high remains, which could bring the negative divergence. Is it correct?
@Prabhakar Sir,
Yes Sir. I removed it today. :)
NEW POST DONE.
@FIRE
Will look at infosys chart at end of day
@Prabhakar!
Please call me just - Prabhakar
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