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 ...
142 comments:
satheesh
me too "test" :)
me3test
Nifty testing patience of bulls and bears
Shat ... I am of the opninion that uts almost 1.5 hours of tading and market is ovesold so we ccan play for bounces
Hi Powertrade,
MACD below 20 or -20 which is correct? Chart range are +20~0~(-)20.
Bose
all test pass
Below -20 chandra
cahndra where a re u seeing this ... MACD rance id between 20 and 80 ... above 80 its over boght and below 20 its oversold
Interesting chart
http://niftychartsandpatterns.blogspot.com/2010/07/nifty-levels-for-today_9511.html
Also candra MADs is a good indicator but also other factors to be considered yout can trade with MACD for 20-30 points range ...but since volatility has reduced now a days we dont get much that 10-15 points ..
hangseng today dow yesterday were -ve in their earlier trading sessions but then turned +ve so might be our mkts follow the same pattern
gm all,
I wonder if google charts or yahoo charts has live vix? Anyone knows the symbol?
@chandra ... And above all we have the master even if you dont follow any thing and follow the master as GEETA you dont have to see any indicators...
hi friends any technical views about tata motors .i am in short postion @846
Creatuon no need to worry ... you should rollover the short to august ... decent profit awaiteing for you
NIFTY DAILY & WEEKLY REPORTS
It is recommend to buy nifty above 5455 with the targets of 5480 and 5510 and maintain the stop loss of 5440
@yoda
http://www.google.com/finance?q=NSE:INDIAVIX
@FIRE
[ FIRE said...
@Rochak,
Et tu Brute? :o
July 27, 2010 3:12 PM ]
sorry, i missed this. & i am dumb enough to understand this. please elaborate.
thanks
regards
@ Upalakshya Jain Thanks on behalf of Mr.Ilango for PROVIDING the nifty range to him
ah, ty, Shatakshi. I've been trying every combination except 'Indiavix', duh.:)
RIL broke all supports today and sustaining. Its below both 50 & 200 Day SMA and range lower boundary. volume rising.
FIRE,
Guess thats good news... as in ... if KING RIL is gonna go down..
then so wil the mkt...were do u see live vol??
thanks fire...
If u put EW count on India VIX.... last few moves...then... going below
17 was required to make a downward 5 movement... once thats over... it shud prolly turn... go upwards...taking themkts down :)))
In RIL H&S broken.
Watch EOD chart from 10th june onwards
Yes the HNS has broken :))
Hi Powertrade,
I am seeing in
http://www.nifty.stockmaniacs.net/
under %day chart. No MACD in daily chart. Stoc/RSI/WillianR are in daily chart
Bose
Hi friends,
i am still holding my long position in nifty from
25.06.2010, i written about this 15 days before
in this blog. Sorry i am not boasting or elite
of my trade, what i like to say holding position quite
less risk than intraday. I am looking for short only
below 5350
holding nifty 5500 put (4lots) bought @ 72
SL 60 Target 95/Above
@Rochak,
"Et tu, Brute?" ("Even you, Brutus?" or "You too, Brutus?" or "Thou too, Brutus?" or "And thou, Brutus" is a Latin phrase often used poetically to represent the last words of Roman dictator Julius Caesar. Immortalized by Shakespeare's Julius Caesar, the quotation is widely used in Western culture to signify the utmost betrayal.
I used it in jest when you also gave your blog's URL here. Please take it as a joke.
@Neha,
I use Metastock.
@ POWERTRADE,, have u still holding longs( Nifty call )for intra-day. plse reply me.
Its obvious that I m a bear rite now
Fire,
Ok
@C.KUMAR, Neha,
Why I can't find the H&S in RIL?
RIL highs --
23/04 -- 1096
24/04 -- 1097.80
13/05 -- 1093.40
18/06 -- 1089.80
28/06 -- 1092
29/06 -- 1091
30/06 -- 1093.95
14/07 -- 1094.45
So, which one is the Head and which ones are the Shoulders? I am confused. Please help.
Ideal low risk selling zone is 5455 to 5465 with a SL 5480.
That would be a retracement sell for the fall from 5478 to 5407.
The golden ratio retracement (61.82%) comes @ 5451.(It came yesterday.)
Few Trading Ideas
http://www.brameshtechanalysis.com/index.php/2010/07/trading-calls-kesoram-industriestulip-telecom-ivrcl-infra/
Hi Ilango,
Fractal-wise we could have a small up move to create a new marginal high.To be
followed by a swift down-move.
This would fit nicely to a top being made because we haven't had the
faster retracement to any of the segments so far.
Fire,
check only month of June n July 2010....18 n 30 june...
14 july... for the highs...n 25 june n 7 july for the lows to make a HNS...
It a small HNS... tgt wud be aprrox 1015... or if taken as 2 times .. then
roughly 980/970
@Neha,
The 14th July high is higher than both 18 & 30th June. Can it even then be called a Shoulder?
thats a confusion... but it higher by vless than 1 point... so????
Anyway, be it a H&S or a rectangle, the breakdown is a fact. And the measuring implication gets us the same target here. :)
if u take in on close basis... or take a line chart ... I guess it wud be lower
:)
Neha,
!015-20 is a major support zone, below which a big downmove may come.
RIL -- already highest volume in July.
"We love ourself even after many mistakes. Then why we hate others for their one mistake?"
Fire,
Yes I agree... break of 1015... n BIG FALL :)
Fire,
We have already seen the outcome but .. one thing is surprising...
If u look at RSI on daily charts of RIL,....it made a low on 20th july
n after that the next low on 26th july was much higher..it was giving a divergence which
pointed to some upside in the offing... but a breakdown happened..
FIre,
I have noticed in intra charts also that wen prices r near imp mvg avgs.. RSI tends to move up... or diverge positively,... but the prices breakdown...is it that RSi behaves in that fashion as a rule... ANYBODY??? what r ur views???
A fst rise setup in BN
read near imp mvg avgs... as just above them... or resting onj them
PS : Hi. Please consider Tata Global-smells good. DLF looks very unsteady - short @ 325 ok?
100 min sma... mking strong attempt to break above 200 min sma... riite now all 3
100/200/50 min sma... at same point on intra charts... outcome wil b interesting... n possibly strong
97% of Aban's Pearl amount received - Insurance.
(May deploy Aban Abraham in place of Pearl).
Sir - remember the Apostle?
@ Neha
VIX is making a falling wedge formation on daily chart, the BO may take it to previous highs, and though I believe mkts are headed dn volatility can increase with increase in price.
@Ilangoji,
Good morning.
My understanding about Positional short recommended today between 5455-5466 is as follows.
1. We have made a top at 5478 few days back and went down to 5407 in i wave.
2. This upmove wave ii,from 5407 is in the form of a-b-c.
3. We may complete the last of this "c" at around 5455-5465 (61- 76% retracement).
4. Then the downward fall could begin in the iii wave around 5455-5465.
Please correct me if anything missing in my understanding.
ABAN:
Regarding the insurance claim relating to the sinking of the semi-submersible rig Aban Pearl, the Reinsurers agreed to settle the claim at the assessed insurable value of USD 235 million. Approximately 97% of the claim amount has been received and the balance amount is Likely to be received.
@Neha,
After starting to study EW, it seems that a range breakout or a move below/above important MAs begin a 3rd wave of some cycle. Thats why divergences fail.
Quoting Ilangoji --
"When you combine EW with TA, you will be able to eliminate
certain divergences which are fake that appears during 3rd
waves. Best divergences are those that appear in "4th & 5th
wave" combination or "B & C" combination."
rg sir dlf ok will be good short setup,
if market breaks out to new high then there might be
some problen so high can be sl
FIRE,
Thanks :)
@ stocktipsatobeya,
I agree
RIL has taken supp at 200 EMA at 1037/1036 as of now
100 min broke above 200 min sma ... intra
The Fast rise setup worked in BN
I think last 5 of 5 of 5 is happening...
Looks like Rotational buying is holding the market.
Nifty making ending diaginal structure in 5th last leg tgt arround 5483, but may not reach there probable tgts are 5455 then 5469.
Matches beautifully with levels given by ilango sir.
Jan 2008 high to Oct 2008 Low gives a 78.6% retracement level of 5478.77.
SL given by Ilango sir 5480.
Its amazing how things become clear when sir pts it out.
Any one tracking SUN TV ??? Fantastic results expected from the Highest paid CEO in the country. 17 crore per annum + 17 crore for the Vice Chairman (HIS WIFE).Missed marrying HIM.
@Neha
just on lighter side, last 5 of 5 of 5 happening for bears...giving them no room to even come out.. i guess reliance was kept down nicely to lure last of the bears...
Rajagopal,
:))))))))
@ Harsh,
Do not worry there is something caled SL
Hahah...nothing to worry...might have no option but to carry forward to next month..mera price kabhi toh aayega... :o) be +
Hai everyone
Reliance has broken down in daily chart. But the weekly chart is showing good support for the stock at 1000 levels. I have updated the daily and weekly triangles of reliance industries.
Thank you
RG, persuade _her_ to marry you - you still get quite a hefty paycheck.:p
@Powertrade
Good work sir.. it was very early detection.
can u elaborate more on fast rise setup?
or pass on some link.
Harsh,
Do not be so HARSH....bring HARSHA only to everyone...
looks like u r long on the mkt or RIL
@San,
Nice charts.
@neha,
nopes, have beeng shorting BN since 9930...holding for more than 1 week now.. luckily got out of RIL longs early today....not entering longs now though... :)
RG cong8s
@ San,
Thanks fr the charts
Thanks assortZ for spotting the cup and handle pattern. I have updated the nifty hour chart with cup and handle pattern.
Yoda - Strong Men of the State. Won't risk. I said "Missed marrying HIM"(FIRE).
btw - Sun TV worthy risk in cash.
Thanks Neha and Fire
San,
Nice :)
Thanks SAN for chart.
@RG,
Whattttttt?????
100 min sma moves above 50 min sma too
@MahtmaGandhi .... I am out of Nifty But Long in BN at 10073 for a target around 10125 10160... Levels
Ril taking supp once again at 200EMA... be careful
@Charu .... Dont call me sir .... Here only Illango sir has the right to be called sir... I am just trying to follow the path shown by the mentor
finally, the breakdown has begun.
Huge selling in RIL. Just now someone sold shares worth about Rs.10 crores.
http://www.banknifty.stockmaniacs.net/
http://www.nifty.stockmaniacs.net/
Here are he links Charu
OWOW
Another 13000 shares sold.
sorry, someone is selling in lots of 12000 in cash. 4 such lots sold in last 1 minute.
Another 36000.
sir can we cover our shorts at 5407 or wait for lower levels
Now 85000 in a single trade.
Guess, I am spamming a bit in excitement. I will shut up now. :+
Now the Question is will Puli Invade?
The hourly wedge is broken. Now to see if it sustains.
rg sir congrats for aban
looks like wave 5 finally over...n so significant downside shud come...wish SIR was here
target of 90 achieved in nifty 5500 put bought at 72
Booked 2 lots
sl moved to cost for remaining 2 positions
True Neha ....... The low has been made and the intraday charts are oversold.... Bounce is due
@neha some buying is happening at lower levels
@Neha,
yes, missing Ilangoji very much. He not only guides us, but tempers our emotions as well, which is my nemesis.
Now the final nail would be a move below 5407.
thanx powertrade
third lot booked at 96
may shoot up from 5405
Flirting with 5407. Low@5406.30 for now.
multiple visits to the support around 5407 sigifies
that the market wants to break this barrier
Powertrade,...
Bounce or no bounce...I m bearish... N I have seen at times...
despite all indicators being oversold... mkt does not stop going down
power of reliance------------contribution of 25 pts to nifty,s down move.sbi/tisco holding fort to some extent.
even 5405 doesn't seem sustainable today. this inspite
of the asian markets closing more than 2% up and
europe trading strong. thats why sir insists on the
supremacy of tech analysis and price action.
FIRE,
I agree... he not only guides us... but emotionally also
he makes us ..remain STABLE... If I may...
5394
I have seen mkt tanking... but ye to vertical near 90degress
downside.... crazy
sl moved to 90 for final lot of 5500 put.
60 points of profit till now. Turning out
to be a good one all due to sir
Its like McNifty....I am loving it. :D
neha, sujatha, pinky, inky, dimpy, dompy, & many more
it seems, this sawan actually brought lot of " hariyali " on just nifty
Market may surprise today with a new high.... After so long a good movement in nifty...
new high?????? you are scaring me....
Its just my guess harsh ... You may go by technicals
PS:Thanks. (Greedy target is 1200-stock coming out of Bear grip).
Just then broker gave a SELL call. Called him and said "Don't do this to me"(meaning me only). When his SL triggered, he called to say "You should have tole me the news". What news?
Is Yes Bank weakening? Holding Result day short (300 sep).
===
yes i know its ur guess..but a scary guess :) i personally feel expiry should now be below 5400... market has signalled it by breaking important supports outlined by sir... will 5350 hold till expirty? who knows :)
RP with weekend we can have cat walk
5400 PE/CE both @20 app.
so expiry may be in range of 5370-5430 with -ve bias.
anyone missed any opportunity due to Chicago nify?
SUN TV - nice prog. Posted @ 443 reached 461. More to come?
below 5370 bulls are in trouble
does anybody know at what time is gas allocation outcome @RG any idea
rg sir ur previous one tata global is in firm uptrend with
-ve divergences.fresh entry shyd be very cautiously made
ideally u wud like to short these setups
Hi Everybody!
Evening star pattern is still valid on daily chart & working in line, day by day its confirming that Uptrend has been reversed now, atleast for short to medium term. Real horror show will start when Sensex will trade below 17800, lets see now.
Rgrds,
KUMAR
NEW POST DONE.
2:30 factor should take it up, RG?
Yoda ... the lows have been done possibly ... so upmove possibility exists
yoda the 2.30 factor has started to play in advance
Good Afternoon Sir, If nifty closes below 5400 on
weekly basis, can i short nifty?
Thank you for posting your new thread.
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