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...
60 comments:
gm sir and friends,
hi rg sir.
Ilango sir as u gave part book @5375, but i m a small trader who
trade with only 2 minifty.Wht if this comes out to b larger 3rd wave.
I will b left out, or i sud add again below 5350??
Plz suggest
PS : Our Tata Global is honouring our preference.
===
Aban Calls started - 970 intra target - Janak fyi.
Sir,
2 doubts
1) Why 5500 put is 106 when NS@5387? it should be around 112-115
2) 5500 call 0.20 why OI addition is happening in july?
@RajGopal
ABAN now 890, intra target 970?
Sir,
Seek your comments on the Nifty and sensex multiyear monthly charts
http://4.bp.blogspot.com/_ZU53ckHTvwo/TFBFShwO_II/AAAAAAAAA3M/BZV5VfAf8cw/s1600/NiftyMonthly.png
http://4.bp.blogspot.com/_ZU53ckHTvwo/TFBFSFCxfYI/AAAAAAAAA3I/SVHFkoe58F4/s1600/SensexMonthly.png
http://stockmarket-prediction.blogspot.com/2010/07/yearly-charts-nifty-and-sensex.html
No urgent needs , as per your comfort
hello friends,
sterling biotech & gvkpil, buy initiated as suggested
please visit
http://stock2gains.blogspot.com/2010/07/trade-updates-sai-bhajan.html
happy sailing
regards
thanks
regards
Ravii - As mentioned it is a call from MOSL and ShK. (But this counter capable of such wild swings i/d)
@ Bizagra,
When you trade with single position, follow with your holding style.
If it is for days, the watch the 5-D for booking out. At the same time if higher TA changes to dn(here the weekly), you may resort to Trailing SL to maximise the profits as "5-D" could stay dn for days.
If you are trading by the hour TA, same method but with a combination of Hour & Day TA.
My suggestion to book Partial profit is based on Nifty closing above Day Low ema.
@ Babu,
I have no answers. OI experts should help you to understand the workings.
Sir,
In fact whenever you have I would like to know your comments on a much longer time cycle of the sensex...as shown in the link below
http://www.chartsrus.com/chart.php?image=http://www.sharelynx.com/chartstemp/free/chartind1CRU.php?ticker=^BSESN
rg sir ,
tata global though in uptrend is showing multiple
negative divergences.
PS : Thanks. We r in @ 116 - will try for 121+(results today). Will S&R on target respecting your TA.
Nifty and RIL is trying to fall but can not falling decisively, i think both two required to go up for a moment to fall decisivly....
friends and senior or Big Boss ( sir ) ,, advice some idea.
@ Neha,
At a glance, it appears in 1992-1993, the 1st wave ended, the 2nd wave lasted till 2003-2004 and the 3rd wave ended in Jan 2008.
The 4th wave is on since then with 'a" ending in mar.09 and "b" ongoing.
It could be a flat correction with a truncated "c" or may develop into a triangle if world markets are bearish.
Sir,
Thanks for your comments .... thats what I was afraid of.... that the third wave is over :(
so at the end of this correction we will be entering wave 5.... the Last wave...
Thank you SIR :)
Plus chance sof world markets being bearish are quite HIGH :(
INTRADAY NIFTY TIPS
On the day of F&O expiry for July month nifty started on the negative bias. Opening flat to negative today nifty will be traded volatile on the expiry of F&O. There are a lot of trading opportunities for today's market at lower levels and banking and technology stocks look good in the stock market. At the downside level crucial support for nifty at 5350 and resistance for nifty at 5450-5460. Some recovery in the market can be seen in the second half. It is recommend to traders to buy Nifty at 5380 with intra-day target of 5420 and stop loss of 5350.
How's the 5400CE of July series...v/s 5400PE..?
5400 ce/pe - 78/59
OI CHange in 5400
CE - 1159,800 Price 9
PE - 558,050 Price 20.6
Me bought both 5400CE & PE COST = 31.00
Sir,
I m trying to get long term sensex data from somewhere if
I can... to see a long term chart where we can expand it... to get proper count
... If I get it I will send it across to you too.
bought nifty 5400 put (8 lots)@ 19
bougth nifty 5400 calls (8lots)@ 9.60
Hello sir....was off as i was not well !
5400 CE is being writtern heavily today.
5400 PE, though not clearly showing one trend, but buying is on for quick gains for the quick fall towards 5350....that is the picture i could understand from OI accumulation and IV changes today.
regards
@Neha,
I can give you the sensex long term chart. What's the timeframe you want? Probably monthly.
PS and Friends - Please check out Gujarat Ambuja. Is it Ripe enough?
Fire,
I m trying to get daily data if I can.... stilll... something is better than nothing...
want data from 1970 onwards tho... If U have it... that wud help...
Thanks :)
Fire,
I want to be able to expand what can be seen here
http://www.chartsrus.com/chart.php?image=http://www.sharelynx.com/chartstemp/free/chartind1CRU.php?ticker=^BSESN
@Ilangoji,
In the last two days, I had put my queries twice (as you have already put me in the group of the eternal quizzers) . If you give some time today, it would be very helpful to my learning. Reposting --
"Ilangoji has given two probable scenarios EW-wise.
The first one is “Irregular b”.
Here Wave a = 71 points
Wave b = 96 points
Therefore, b has retraced about 135% of a and b is a Zigzag. This implies that Wave C will be an impulse which retraces all of Wave b.
So, the possibility of reaching at least the starting point of b, i.e. 5382 increases.
The second scenario is “Truncated 5th”.
In this case,
Wave 1 = 27 pts.
Wave 3 = 106 pts.
Wave 5 = 31 pts.
That means, 1 & 5 are almost identical in price (in time too).
Wave 3 is much more than 161.8% of 1.
These satisfy the price relationships of the waves.
Wave 5 failure can occur when the 5th itself is the wave 5 or wave C of the larger degree. Here, the larger degree is 5th. This implies that a significant top has been made and the larger 5th will also fail.
And last, but not the least, when there is a 5th wave failure observed, the time taken to breach the top of wave 5 again will be at least twice the time taken to form the entire previous impulse.
Now, which of these scenarios will come true, only time can tell. But Ilangoji can tell if I am making any mistakes. Fellow members can also help me in learning EW, pointing out any of my errors."
The target of the first scenerio is met today on the dot.
Now the second scenario, about which I haad asked you yesterday ---
"It looks like to me that your "Truncated 5th" scenario is playing to the hilt. A 5 wave down from the high of 5466 (A), a 3 wave upmove to 5451 (B) and now a 5 wave downmove has unfolded, where 3rd or maybe 4th is going on (C). Could it be the case?"
Now sir, I am feeling confused a bit as both your scenarios seem working. If you could guide me a bit...
@Neha,
You can get BSE & NSE EOD by using the Bhavcopy tool from the following link. Only thing you should give the from and to date.
http://www.4shared.com/file/Pw7xkw9D/getbhavcopy.html
Sir & Family
GM..
What a long term analysis in reply to neha..
will be highly obliged if u draw d chart..it will
be the desktop background forever.:)
RIL -still u hold long views
@Neha,
Your mail address please. I will send you monthly and weekly charts in semilog scale. Otherwise it will not fit in one screen.
Dear @Neha!
Send ur e-mail id me at FUTURESFINCAP@YAHOO.IN and i will send u daily,weekly & monthly chart of sensex of last 10 yrs.
Rgrds,
KUMAR
@ Hari,
Thanks I wil try that
@ Fire,
gimme ur Id N I wil send u a mail... or I believe Sir has my mail
ID ... I wud request Sir to please forward it to you.
@ Kumar,
Thanks .... but I need it from 1970
Dear RG,San,Fire
Your Views on RIL today please.
@Neha,
My mail Id is yinyangfire@gmail.com. But Sensex was born in 1979 only. So older data is not available.
@ Manu,
RIL - higher lows are still maintained.
If 975 is broken, then bearish for medium term.
Let me prepare your wall paper for the desk top.
Fire,
Ya sorry 1979 :P
its yinyang... not yingyang... or is it a spelling mistake??
Sir,
Mkt suddenly caught momentum... 5 wave upward move
3rd wave started from 5450.95.
Sub waves as follows:
i) 5450.95 to 5422.20
ii) 5422.20 to 5440.85
iii)5440.85 to 5381.60
iv) Started now - should not breach 5422.20(i st wave)
@all
5600 call writing....going on...
Tata Global
hi dear sir ilango,
sir we miss b.p.p at low level
so now we can sell nifty near {n.s.} 5410-5420 level
regards,
alpesh
NEW POST DONE.
Yes..Alpesh.
Fire,
Sent u a test amil
mail
Sir,
If it was an ABC correction from the high of 5475
then correction may have ended @ 5382
@ Prashant,
It is possible. But the TA shows this as a bounce only.
Hello morning sir & friends!!
In this upmove intra unwinding witnessed in both 5400CE/PE (now 80L/56L).
the 5th of third may not be a long one as the first
measured about 30 points. if 1=5 this one may go to
5407-30=5477
and if a 5-wave fall materializes we may test
5450 (after 4th up) only tomorrow.
if third doesn't move below 5475, we may have
to wait till tomorrow to test 5450
unwinding in 5400 calls and puts indicates indecisiveness
as people suspect a sharp upmove/downmove from here
and thus exiting the calls/puts written at 5400
Intra-day possibilities:
1. Assuming it was an ABC correction, we may still
not travel much beyond 5420.
2. Assuming 5-wave down, we may see levels of 5375/lower
(if 5th of 3rd is extended)
In all, as sir said we may witness a rangebound day
5375-5420
My plan is to exit calls near 5420 and then to
wait for levels below 5400 to exit puts.
Let us wait and watch
read 53** in some of the posts
NEW POST DONE, Prashant.
looks like operator doesn't want either side of 5400 to earn money.
I have bought 5400 ce. PURE SPECUALTION as betting on 5420-5430 range expiry.
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