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 ...
78 comments:
gm mok, you're expecting it to fall only later in the day? How come?
the 12.30 yoda, waiting for a trigger to catalyze
Sir;is the action shifting to metals and reliance TATASTEEL making a new high
alright, mok. Let us know when it triggers.:)
Within 1st hour of trade,Addition of 10% + in 5400 Pe O.I.and 11 lac + in NF O.I.Bulls will have to try hard to go up to 5435 due to NF addition.Turnover is 22000 Cr in just first hour of trade.Its huge.
hi Yoda, GM - like y'day, i'm ON for 5420 :-)
PCR of 5200-5600 strikes rising... `0.73 now vs 0.71 yesterday
Puts being written
the mkt has been lethargic now this many days, when the brk out comes, whichever direction, its going to be surprising ... and sudden ?
@shatakshi,
I am beginner. If puts being written, then it means, it
is expected to go up. Pl. correct me if i am wrong.
Janak,
I closed my longs finally. I decided I had a long and happy run for over a month and its time for a fall. All the best with yours.:)
gm sir and friends,
rg sir in wipro there has been range type formation fot
last 1month. yestarday candle volume was not large on daily basis
(atleast as per my charts) however hammer formed indicating buying at
lower levels. break of 410 will mean higher levels
I've been thinking, from all the ojn studies, that if I go long from now on, it should be in BNF.
Nifty is good, but if I watch Nifty and trade BNF, I might maximize profits.
ah thats a new concept, but what if RIL, infy & ongc pulls down NF, and BNF moves other way ?
Just a thought.
but i believe in your concepts yoda, you put ur foot in after studying a bit only.
@Prabhakar
I am not sure as to how much upside can happen but it clearly shows cap downside.
@yoda,
after so much ta this is the conclusion
watch nf and trade bnf.
lol
Dear friends,
Blog updated.
http://stock2gains.blogspot.com/2010/07/buy-neyvelli-lignite.html
thanks
regards
just to give perspective
Cumulative OI change in 5200-5600 is 560,500 in calls vs 1115,200 in Puts
That's a point, mok.:)
piyush, Nifty used to move a lot a year ago, but this year its been largely marking time. I think it hasn't moved more than 200 points a month. How do traders deal with this?
Thanks as ever PS. U are spot on on vol. Only 80% of 5Davg. Just last 30min trade attracted me.(300% of the day).
Now to go Long, mok has issued first warning.
Sir & family..
gm..(hope shiva sir loves ths family..straight point)
Yoda mam..
the net cash buy by Fii ws 3500 cr on 9th july..
they r adding to it..
this ws d scenario before in last april too..
then y positional shorts..
Alright, manu and RG,
You may be right. I'll keep an open mind and won't go short yet.:)
yoda,
dont trade nifty if it doesnt move . trade what moves.
lol.
if bnf moves trade bnf. but for trading bnf u have
look at it. maybe supporting evidence can be taken
from others
well take it as light conversations only. u must be knowing
these anyway
This another kind of "Market freeze".
yes, piyush, I was also just having fun, since the market's boringly slow.:)
one more point..
beta moving ahead f nifty..
eg..unitech,tisco
@all
Fii's r buying, but if u closely see BSE CD, its just outperforming sensex from past 30 odd days, risk is getting diverged, capital goods slowing down,fmcg is getting supports, healthcare outperforming, IT lagging...
clearly money is going into defensives...
its not everytime fii buy it should set index for higher levels...
its my analysis, i may b wrong, crosscheck...
CNX IT looks stronger than BN today.
Gm Illango Sir,
Sir 5400-5410 are Spot levels right?
I have planned to short conservatively
2 lots @ 5400 Nf
2 lots @ 5450 Nf
2 lots @ 5350 Nf
Is this strategy right or I have to amend it?
Plz advice.
@Anil,
Excellent observation.
@ Anil,
Whichever stocks are outperforming, FII money must be going in there. That is a very relevant point there.
@ Manu,
Let us see how these two beta stocks prove themselves this time.
Good morning Ilango sir and all,
Sir - "Market freeze"??? - Can you explain more about it? - why is that a clear direction is lacking?
Complex correction in B wave.
http://stocktipsatobeya.blogspot.com/2010/07/nifty-elliott-wave-analysis-5m-chart.html
has anybody noticed this thing...
even 5400 put is being written...and 5400 call is being bought...a small 100 bps change in their intraday IV suggests that !
regards
@ Musti,
Today's market action has so far been "exactly opposite of what I planned in the morning.
Trading above pivot-5386.
Moved past the resistance 1 @ 5410.
Trading above VAH often.
Aggressive sell should have a tight screw cap @ 5415 now.(Not 5435)
A minimum break of 5400 first required to see a "Bear face" and then 5386 and then the most important 5360.
As time is running out, the daily may turn up again with this time correction.
Wait & watch which side it turns.
Heart says Down. Head says UP.
Me say Down but critic says Up. (another critic, Shivaprasad said Down on Monday..present view not known).
Anil
yes u r right as for 9 th july Nse Fii buy fig (prov) was
1100 cr but net (sebi ) ws 3500 cr..
the 2500 cr went into bse..for sure as no
bulk deals that day(M&A)
Sir
:)
making fun of ur slow brain student
..i left beta trading ..i will leave hedged trading too..
thnx u made me really confident
Thx sir for ur quick reply.
I place Sl of 5415 NS.
Keeping ur Golden words in mind
after the first 5 min, its just 5409 to 5393 NF ?
such a tight range, pivot levels look miles away
hey manu, slow brain, where i dont see anyone,
especially no one with a mobile and vaio :)
Dear Ilango,
"Heart says Down. Head says UP"
Now at 11.15 AM Addition of 15% in 5400 PE and near by 5% in NF O.I.
Something is definitely cooking.I would like to wait for interesting latter hours trading today.
Complex correction in B wave.
Have a look at following link,
http://stocktipsatobeya.blogspot.com/2010/07/nifty-elliott-wave-analysis-5m-chart.html
Mynac OI addtion in 5400 put means we are going ahead for 5435 or just a bear trap
PS : BPCL unable to sustain @ 665+. Is it starting its decline to 630? Is having H&S with RS around 630-.
HCL - moving +ve.
P.S.
A day before yesterday there were 2 intra day huge "cash" trades in Nifty Spot at exact 5392.Even yesterday also 5392 had it's own importance and today NF low is 5393.20.Any significance? I would like to find out the same.
Sir,
Can we take it as,
Heart - intution
Head - Logic??
Sir in my case intution has overrun logic many a time!!!
Just my 2 cents...
If you compare the closing prices and CMP of 5400 Put and 5400 Call, it may be observed that 5400 Put has lost 15%, whereas Nifty futures has just moved up 10 notches from yesterday's close. However, 5400 Call has gained 2 Rs. which is in tune with the Nifty futures rise and the time decay factor...
hema & poc is firmly held...besides sir's 5400 !
slow 5400 put build up all sums up a good few days ahead
regards
mok pa ji..hi..
ojn looks great..u r a real techie..
"left mobile also"..me,my machine and Just nifty..
i m loving it:)
(PS I am looking at Aug futures in BPCL-just safety first)
Educomp solutions ltd weekly chart
http://niftychartsandpatterns.blogspot.com/2010/07/educomp-solutions-ltd.html
Hello friends
Blog updated
New trades suggested.
please visit
http://stock2gains.blogspot.com/2010/07/trade-updates_20.html
Please visit, review & encourage..
Thanks
Regards
sir
"Head " really needs fuel frm RIL:)
it has been months they r nt filling...
Dear POWERTRADE,
For me,at present this is still undecided zone,because not going beyond 5415 and not going below 5360.But to day trading is going on near to almost top range of the zone.So it has become rather more tough to even guess.
Bye everybody,will try to join in latter trading half.Thanks.
Dear ILango sir!
Time of 2nd updation in Tech Table is still showing 10 am instead of 11 am, kindly correct.
Rgrds,
KUMAR
Dear All,
There is two type of cross over, one is "Golden Cross over" when 50 DMA cross over 200 DMA and another is "Death Cross over" when 50 DMA cross below 200 DMA,whenever this happen good movement is take palace on that side.
Death cross over is happen in Dow 4 day back.
@Mok,
Can you give the mail address today?
Dear All,
There is two type of cross over, one is "Golden Cross over" when 50 DMA cross over 200 DMA and another is "Death Cross over" when 50 DMA cross below 200 DMA,whenever this happen good movement is take palace on that side.
Death cross over is happen in Dow 4 day back.
Thanks pawan,
its nice of you to inform ...
Fire, ojn_2@yahoo.in
Dear All,
There is two type of cross over, one is "Golden Cross over" when 50 DMA cross over 200 DMA and another is "Death Cross over" when 50 DMA cross below 200 DMA,whenever this happen good movement is take palace on that side.
Death cross over is happen in Dow 4 day back.
Sir,
"Close the shorts message"????
there is an upmove Satheesh, thats why
[plz corrct me if wrong sir]
yeah satheesh
i also saw but got erased..
Sateesh too early to close as were are still far away form 5412 forget 5315 .........
rg sir ,
bpcl neckline of hs ia 650 can go back where all this pre news thing.
however there is positive div in hourly so maybe a bit
vigilant with ur shorts
SELL Bank Nifty with just 20 point SL.
rg sir i have mentionesd spot values
Dear @Pawan!
Since last Budget Indian market is outperforming Dow bcoz our FM has managed well fiscal deficit so fundamentals have been changed of our market. Technical always smell fundamental changes in advance so our market is trading near 2yr high & Dow has fallen nearly 10% in last weeks. So go with techinicals, our outperformance showing some kind of decoupling from Dow & others. Dow is closing below 50 days mvg avgs & Nifty is refusing to close below 5 DEMA. ILango sir will give better view on this.
Rgrds,
KUMAR
Intraday "SAR" points are converging at 5400 to 5410.
Hurray !!! with the master giving a short call in BN now i have the confidence to carry it ofcourse with the SL ...
Hai everyone
Nifty spot 30 minutes chart inside a channel.
http://niftychartsandpatterns.blogspot.com/2010/07/nifty-spot-30-minutes-chart-in-channel.html
Thank you
sir,
in nsetracker, all ma bullishly aligned.
can it be a fast rise stuff
NEW POST DONE.
Hi Kumar,
I fear the word "decoupling". Whenever this has come to forefront, Nifty acts in such a manner that it can join its big brother.
Dear Kumar,
I share just a piece of information and decoupling from Dow is just a +thought. I think more then 50% contribution in World economy is from USA so that not possible for India to decople from USA. In Jan 2008, there is same type of hype is created for Indian Economy and outperformance by Indian Share Mkt and after that 2 Circuit in Indian Mkt ( Ist time in the History of Indian Mkt 2 ckt.)
Dear Shatakshi!
I do agree but v can not trade on behalf of fear,its best to go with technicals & as of now technicals are not showing any kind of big fall. If any fall has to come then certaily market will close first below 5,8 & 13 DEMA so remove ur fear but be vigilant & cautious, that will give u enough opportunity to trade in right direction.
Rgrds,
KUMAR
Dear Pawan!
I fully agree & thanx for ur piece of information. But the difference this time is that no hype in our market, people are not interested to hold delivery for more than 3-5 days. Retail participation is very low & moreover that time Ambani brothers fight was on peak & now their brotherhood has just started. Our market has big danger from mansoon rather than Dow.
Rgrds
KUMAR
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