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...
86 comments:
Ilango Sir,
Can I go short nifty future at 5400 NS?
Thank you
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I am confused. 5400 5L calls, 2L puts and market went up. Now correcting a bit.
Plz somebody update me on Fortis Ltd. stock..i.e. should i hold the same or not??
I bought the same @155 on delivery basis based on the news that it will buy singapore based company parkway....
Regards
MD
@ Prabhakar,
These are micro movements. You need to do it yourself with the levels given quite clearly in the morning.
If anything significant is felt, I will share.
In market, you need to act with a plan. By the time, you ask, you miss it.
@ Prabhakar,
"5370NF to 5400NF" trading band for some time. Only above 5405, action. OR below 5360-5355.
Thank you Sir for your valuable suggestion
Hello Rg
could you hare some range for simens I checked the volume and chart I feel it will rise. Need your unbiased opinion on the same
i remember u talking about it some days back
rgds
rishav
Dear Mo k,
Thanks.
Ilango,
As we are in an abc correction to the fall from 5453 which was a 5 wave fall than don't we ecpect further fall once this abc of which c may be getting over? ( This assuming 5th is over at 5453.)
manoj
I had a dream last night that Nifty went up and I had forgotten to close my shorts. lol, I got up and checked - I don't even have shorts.:)
:) yoda ...
Hi Friends,
Here is the link for today's MySAR_A levels
http://www.4shared.com/document/GeaRvYuG/MySAR_A_for_Future_16th_July_.html
Watch HechTech (future). MySAR_A level given 359 not it is trading at 367.
-gauresh59
Addition of 14 lac O.I.in Nf in 1st first 1.35Hrs with the turnover of 21000 Cr.The addition is Comparatively on higher side to yesterday as well as a day before yesterday's addition,between the same period mentioned
option analysts,
5500CE 1.04cr OI
we have come across such built up in CE earlier?
if anyone has information please provide.
players are confident of not going above 5500 in this series.
In my opinion buying 5200PE @ 20 good idea assuming its going to "0" value.
Yes..Manoj,
You are right on that.
Preferred view.
NF holding 5365 will set it for that "c" wave.
One concern, though, is the $ dn strong & euro rallying strong.
Hence, the alternate view of a new high.
Negative divergence, lack of breadth are worrying factors for bulls.
HI dear sir ILANGO,
MY TRADE PLAN :IF "a " is complete tomorrow at
5360 then "b" goes up to "5405-5425" . sell yr buy
position here and sell with sl of 5435-40(nf).
then "c' come here "5335-5345" must be buy here
for larger "5" wave complete.
also buy bank nifty for higher tgt for devlopping
negetive div. for sl of 9855-50
sir i am right on my path
plz give me suggestion
regards,
alpesh
Good morning sir & friends !!
@Yoda
lol
@kumar_chheda
No its never witnessed in calls before. The only other time an OI of more than 1 cr (approx 1.2cr) was witnessed in 5200PE in March/April exp i guess.
I have posted the importance of 5431-5441 level in my blog.
Will update more about short-term level & BNifty levels @ 1pm
The Nf O.I.Addition is between just 15 points(5371.90 and 5387.45)means almost 1 lac(Slightly below) per point.The latter trading hrs. shall be interesting.
@ alpesh,
The directional part is alright but the timing can not be commented. Act at the levels planned if the TA is OB or OS at that juncture.
ILANGOO SIR,
DOLLEX MIGHT ON VERGE OF COMPLETING ITS CORRECTIVE "B" WAVE OF ITS RISE AND AGAIN START MOVING HIGHER SOONER.
@MANNI,
THANKS FOR INFORMATION.
1CR. OI IN 2500PE @ MARCH09
Dear Ilango n blogmates..
Why Japan mkt is 3% down?????????????
net is patheticallly slow for somereason.
many may not be able to comment i think
@kumar_chheda
No I'm talking abt 5200 PE Mar/Apr 2010.
Agree with your view regarding Dollar as Euro achieved 1st target of 1.29....however there's still a possibility of doing 1.32 levels. So would prefer to wait n watch.
@Yoda
hmmm dreaming about Nifty......
Damn there are better things to DREAM about...
Cheers!!!
@mok
Thanks for ur message...
Cheers
Hi,
Since morning bottom, there is rounding top pattern clearly visible. Any significant inference?
manoj :)
Ilango San, i think because asia is trading in RED - europe will open flat/negative and then climb up....and then climb down....and then up and down.....this is how it works these days :-)
@yoda,
Alright u need a break. Dreams about Nifty !!! If you are married, this is the last thing to you want to tell your wife.
I remember dreaming of chess when I used to be addicted to chess ( used to play 15 hrs a day ).
A low risk buy zone.
@Ilangoji,
Thanks for your wishes. Couldn't come earlier because I has having a bout of my pet migraine. :)
@Mok,
Excellent celebrations! Now can you do me a favour? Can you please send me the EW book of Frost-Prechter? I would be most grateful.
I'm single, so no worries, gd.
I read that dreams are where we deal with our worst nightmares, so that we handle reality more easily. I used to dream of not having studied for an exam long after I finished with education.:)
@ All
http://4.bp.blogspot.com/_88fjmcdhjs8/TD_nLgmU4nI/AAAAAAAACXI/Mk-TVIS3CnE/s1600/NF+5+mins+HnS+16-07-2010+10-18-19+AM.png
Now assume that the market knows we are all seeing this and it likes to do the most obvious thing the least obvious way!!!
The most obvious thing is that traders might think since this is too obvious an HnS and hence fade it..
Who knows the market thinks that since the failure of this HnS is the only obvious thing going in ppls head why not do the least obvious thing and let this HnS play???
Damn all this OBVIOUS thingies is getting to obviously irritating...
Simply put "TRADE WHAT YOU SEE AND NOT WHAT YOU THINK" use EyeQ rather than IQ!!!
Cheers!!!
@yoda
I know that exam dream...
I still get it I am failing in my 12th boards and then realize damn I am graduate so how possibly I could fail in my 12th !!!
Cheers!!!
Ps:earlier message inadvertently posted again..no idea how..obviously I am not compatible with technology!!!
I request everyone to check the chart posted in pre-market view..just see those arrows drawn and check the action so far..amazing :)
@ trying2trade,
Hns has got a 50% failure rate and not a reliable
pattern.Second time it has failed in US markets in
6 months.
Interesting.Percentage wise since morning there is a addition of 1.5% i.e.1.60lac O.I. in 5500 CE and 11% i.e.4.30lac O.I.addition in 5400 PE.
HNS is not failure pattern.
as it is easily identified by everyone it is used for trap
@ Assortz,
You need to check Shai's levels at Vtrender.
Like Yoda you will see Nifty in your dreams.
Only you will not get up in panic :) .
Mynac,
considering 5400 PE premium, It suggests bullish.. am i right ?
I dont think hns in US has failed yet. We can have multiple right shoulders before a breakdown. Its too early to comment.
@ sir
Can you guide through RIL movements. What is probability of RIL to go up or down. Also , one view is RIL had lots of positive news this week, and lots of people might have bought this. Inspite of that very negligible movement in rising markets.
Is this in Overbought zone. Also Day or Weekly trend in RIl. What it looks like?
Gm Ilalngo Sir,
Sl for this entry I thought 5365?
@Rajeev
This doesnt mean you dont trade em..what I meant was that every trade comes with possibilities of being a success and a failure...
I read some time back Ilango mentioning some story about pulli or something like that...
Same way every trade always presents you with the following three things;
1 Entry
2 Stop
3 Exit
As long as you are disciplined with all three;
WHY NOT TAKE THE TRADE???
What the market gives you is not in your hand but what you give to the market is perfectly in your hand...and that is your STOP!!!
Stops are not meant to STOP u from trading..they are meant to STOP you from RUIN!!!
Cheers!!!
@ Kumar,
There is no basis to your statements.
Define "everyone" and define the "trap" setters.
Dear assortZ ,
You are there but still not reflecting in price movement.Still gathering the momentum but not yet clear picture.
This is a tug of war zone.
thanks mynac..
@ sir
Can you guide through RIL movements. What is probability of RIL to go up or down. Also , one view is RIL had lots of positive news this week, and lots of people might have bought this. Inspite of that very negligible movement in rising markets.
Is this in Overbought zone. Also Day or Weekly trend in RIl. What it looks like?
@ sir
Can you guide through RIL movements. What is probability of RIL to go up or down. Also , one view is RIL had lots of positive news this week, and lots of people might have bought this. Inspite of that very negligible movement in rising markets.
Is this in Overbought zone. Also Day or Weekly trend in RIl. What it looks like?
Dear Sir,
The interpretation of what you have given in the pre-market- is it like as under:-
Below 5340 - Short
Trade between 5360 and 5425
Above 5425 Long
Is my understanding correct sir? I am learning please guide.
Regards,
Veer
Anybody noticed Mini nifty future low today?It is showing 5339.90
@ sir
Can you guide through RIL movements. What is probability of RIL to go up or down. Also , one view is RIL had lots of positive news this week, and lots of people might have bought this. Inspite of that very negligible movement in rising markets.
Is this in Overbought zone. Also Day or Weekly trend in RIl. What it looks like?
@ sir
Can you guide through RIL movements. What is probability of RIL to go up or down. Also , one view is RIL had lots of positive news this week, and lots of people might have bought this. Inspite of that very negligible movement in rising markets.
Is this in Overbought zone. Also Day or Weekly trend in RIl. What it looks like?
@yoda,
Ok. I am not the only one with the exam dream. I slacked of ( never attended classes ) in my last sem during my bachelors but still managed to get decent grades. And I had a scholarship to a univ in the US. And I also had a job offer which I rejected. So my dream is that I fail a course and my scholarship is revoked. And the company says no when I approach them again.
This started when I was 35 or so. I wake up and tell myself, I am 35, way past school days and all is fine. I laugh at myself for being so fearful in life.
Nifty in the Making of Fast rise set up It sustains this level
@mynac!
But when I am double clicking Nifty spot, it shows Low value is 5374.4 and open value is 5376.65. I am also confusing.
sorry all friends., i don't know, how the message is getting posted again and again. Pls ignore it. Everytime i refreshed teh blog screen, message gets posted again. Please ignore and i apologize
@ToT, gd, folks with nightmares,
'Bad' dreams are supposed to be of very great value to emotional coping, its all good.:)
Golf dude possibly relaince will be the trend decider for nay upward movement of nifty as it has underperformed nifty ...... I personally feel relaince would reach around 1120-1140 where decent shorts can be created
At 11.37 AM values is VAH 5382 POC: 5378 and VAL: 5374
Powertrade - r u sure abt. FASTRISE thing?
Dear Prabhakar,
My both terminals are showing the same.It must be fake but the trick has done.
Janak it is still in the making we have to see possibly above 5385 would be break out for 5405..
The 13 Min EMA has to move above the 34 Min EMA
Fire
I will give you 3 links plz check ...
http://www.4shared.com/account/document/VA0EfOu_/Prechter_Robert__1990__-_The_M.html?sId=4cHFabjecXrciUoJ
http://www.4shared.com/account/document/BMpC4-dS/Prechter_Robert_-_A_Comprehens.html?sId=4cHFabjecXrciUoJ
http://www.4shared.com/account/document/BMpC4-dS/Prechter_Robert_-_A_Comprehens.html?sId=4cHFabjecXrciUoJ
@ wealthcreator,
I am not watching individual stocks much during intraday. Let me check & let you know.
@ Veer,
Though I have given the trading band, I generally prefer to buy closer to the lower range keeping the uptrend in mind and not on a break out.
It is individuals preference.
A larger range break out would be good for a "entry on break out". For smaller range - buy the lows & sell the highs.
Break of 5360NF itself is bearish. However, I have given a 20 point safety net for confirmation.
"5425" based on a retracement plan.
Waiting for further market action in the later trading Hrs.Till then Bye everybody.Thanks.
dayb4 was a widebar7 day, yesterday an narrowrange7
Powertrade, why i'm asking is that Europe opening will play a pivotal role for next hour - so evenif a fastrise happens, it might just fall back...
P.S.
The final observation for the day.
Since morning in spite of O.I. addition,there is only one single trade in Nf at the opening i.e.at 9.00Am which consists 1.80lac Volume at 5377.50.There after no any other 1 Min.trade of 1 lac volume, up to this post.Bye
for all - chk. out GTOFFSHORE, some REAL buying is going on - heard that going to shoot 464 - pl. don't blindly trust me -i've just heard it and looking at buying in FUTURES - might just be true
more- it is violently oscillating between 440 and 445 and in between, some large quantities are being bought....strange
Dear Sir,
Thank You.
Regards,
Veer
Janak eveen i am concerned about that as euroal;ready is trading at a high but any fall may be absorbed i personally feel as bank nifty is showing bull strength..
Hi,
HCL Tech (future) above MySAR_A (359), now trading at 371.
-gauresh59
5400 CE 7 lac calls written
could be a trap also, like yesterday
5400 Pe also 4 lac written, I guess as expiry gets closer, action is hotting up. Something is going to happen soon.
NEW POST DONE.
@Mok,
Thanks a lot. Both the books are invaluable. But the Frost book is missing and the last 2 links are identical. I you can give the link for that book, it would be great. Thanks once again for these 2 great books.
Ilango sir, s&r level is 5325 NS, and below 5360NF is weak,
so i think we can start shorts below 5355NF and look for closing.
m i right??
Thanks
@Fire
Dear sir are these the two books we were talking about a while earlier, if so plz can you give the links to me?
Hai everyone
A FLAG pattern in 10 minutes chart. Since it has come in the 10 minutes time frame the false breakout chances are high. I am posting the link here.
http://niftychartsandpatterns.blogspot.com/2010/07/nifty-10-minutes-chart-with-flag.html
Thank you
HI llango sir
i m new reader
sir i have been make short position in nifty areound 5364 yesterday
can it come down 5350 or not
if u r free then reply must
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