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...
57 comments:
Would you advice going long positionally at this point or should we wait for a dip ?
Can we wait till it comes to 5290/5300 to go long ?
Reposting:
Ilango sir,
Is it a -ve divergence in 9 hr rsi charts? or is it just due to the huge gap up opening? Do divergences work in the 5th wave?
@ Patrakar,
Corrections are difficult to anticipate. You may enter partially here and rest on a decline, if it happens.
The larger picture from day charts have just turned up. SO more upsides will be there by holding above 5260.(presently)
hi
ilango sir,
plz update abt us dollar ?
regards,
alpesh
Thank you Ilango Sir. I am just a week old on this blog but really zapped by your accuracy.
Wish I was here earlier would have saved lot of my losses.
@ Satheesh,
There is a mild -ve div in intra charts.
-ve div works in 5th wave for which it has to clear the 3rd wave top.
I use 9-hr rsi for break outs, break downs, OB, OS & divergences.
Should give another two hours to see how it shapes up to.
@ alpesh,
From a simple study, US $ index looks quite bearish for sharp falls. And that should happen soon. If not it may take support near 83.3 and reverse up.Its daily TA is in the negative zone without any divergences.
I check on them occasionally.You must view "Tony caldaro's charts " for US $ index as he covers it regularly & the live charts under our "Live Market to watch".
My broker says 10% to 5% is for ETF only
Ilango sir,
"-ve div works in 5th wave for which it has to clear the 3rd wave top." Does it mean that only after NS get past thro 3567 then divergence can be sought!!!
3 Intra/Short term calls with charts
http://www.brameshtechanalysis.com/index.php/2010/07/intra-day-trading-calls/
thnx sir..
yes, gauresh59, I think you've done very impressive work on it.:)
What formula are you using for the SAR?
Can anyone send me the pdf book of Frost and Prechter? I would be most obliged.
Don't feel compelled to share - you can just say its different. I was just curious.
There are a number of SARs and I wondered if it was anything like Wilder's formula.:)
Something is happening!!!
5400 Call - -709350.
5300 Put - +1013800.
Huge addition in 5300 Put and reduction in 5400 Call.
Bramesh,
Could you also check Jet Air? Looks a very impressive breakout candidate to me.
SEBI has revised exposure margin requirements for exchange traded equity derivatives. The regulator, based on market feed back, has decided that the exposure margin shall be in excess of five per cent or 1.5 times, which ever is higher.
The earlier exposure margin requirement was 10 per cent or 1.5 times the standard deviation of daily logarithmic returns of the stock price. This circular shall come into force from July 15.
With this revision, participation by players is expected to go up especially those who write options and those who keep open positions in stock futures.
Option writers are required to bring in initial margin while writing the option and assignment margin whenever an option written is exercised by the option holder and hence assigned to the writer.
For futures, exposure margin is collected in addition to initial margin.
Exposure margin on futures is calculated on the lognormal returns on the underlying for the six months and this applied to the notional value of the outstanding futures position i.e. higher of 5 per cent or 1.5 times standard deviation.
Standard deviation measures the volatility or the rate at which price of the underlying fluctuates over a period of time.
The higher the standard deviation, the higher is the volatility, and the higher also would be the exposure margin for such underlying asset classes.
http://www.thehindubusinessline.com/2010/07/08/stories/2010070853121100.htm
rg sir
ohlc 13.00 5320,5320,5308,5317
ICICI Direct shut down due to technical problems will re-open at 2:15 pm
Maybe we can expect a sharp upmove as shorters square off positions after 2:15.
PS - Thanks a ton.
Good afternoon sir & friends !!
@sundar
Unwinding at 5200PE also....in morning it was 94lacs now 89lacs.
As per me if nifty sustains above 5320 good to go long.....otherwise might be a trap.
@FIRE
dear sir if you get the frost prechter book please give it to me too, i am also looking for the same for a long time...
Hangseng index off its highs....making new intraday lows.
@Elango sir
When can we expect short covering in the market near to previous high 3566 already shorted earlier.
5345 or 5355 ? possible today or tmrw ? please guide me
@Elango sir
sorry not 3566 is it 5366
@Stocktipsatobeya,
If someone here gives me the book, I would definitely send it to you. I think, Mok, Prakash and Anuj are the proud owners of the book. Now if any of them be so kind...
@Manni,
Hang Seng is making new lows indeed. But on the other hand, European markets are making new highs. So, which way to go? :)
Ilango,
Is this the 2nd of 3rd of the larger 5th or are we still into Larger 4th?
@Mok, Prakash and Anuj
please consider the request for the book
5300 CE/PE 61/60 but 4L puts unwound in 5200. Is this how they keep it at 5320.
Optical illusions to invite shorts?
why there is reduction of 9% IO in 5400 Call
and addition of 20 % and 13% OI in 5300 put and 5400 put.
is there something big going to happen on upside.
OI experts please clarify.
@Fire
Thats why i said....good to go long if nifty sustains above 5320 or near 5290-60 as sir suggested. Stay on sidelines till then :)
check my yesterday's message bout 5315 level :)
@ Manojag,
It is the 5th wave and it is either the 3rd wave in progress(i-done, ii - on, iii to follow) or the 1st of 5th is being played out. Basing it on daily TA.
@all
a rumour is on, market is going back to test 5250-60, fii's are offloading in cash...plz confirm...
Hello friends,
updated charts posted on the blog for Nifty.
2 short terms pick also posted.
Thanks.
Anil, is it true? you're my confirmation.:)
Anil
"Follow market with calm mind, dont complicate things by using host of indicators. Always respect the market, keep Fear and hope out of your trading/investing plan"
Is there any source from where we can track FII intra-day activity?
Sir
"or the 1st of 5th is being played out"???????
it is really confusing ..as per daily TA it is ii!
hw 2 differentiate?
u can see such rumour
in cnbc (buiness cartoon net work)
do oppsite to such rumour
@ ToT amit
Pls have a link for blog of nifty
kk
@kkay,
just click on the my name you will be directed to the my profile and blog.
for your comfort it is:-
http://tradingontechnicals.blogspot.com
Thanks
@ Manu,
Sub-waves of the 5th wave is being discussed to finally arrive at a possible target.
Do not give it much thought. Suffice to say that the direction is up as long as 5240 holds.
Must be floated by the big guys wishing to close their shorts. Otherwise why stop at 5250?
@Mok, Prakash ,and Anuj
Please send me the pdf book of Frost and Prechter? I would be most obliged.
teejay.tarun@gmail.com
Illango Sir can we consider it as triple top in Nf?
5377,5345,5339.
Can we take a agresive short with sl 5350 here?
thnx sir
the more i try to learn EW..more confusion but interesting..
i was assuming "ii" on and "iii" to start frm 5290-95 lvls..
plz point me ..if i m wrong..
hi dear sir can we buy bank nifty at this level
if no ?
whats the entry point of bank nifty?
regadrs,
alpesh
@ manu,
That is the simple reading.
@ alpesh,
9540 - 9565 is a good re-entry point.
thx sir for yr velueable suggestion
ALPESH
sir, there is falling wedge pattern is in making in us doller index hourly chart. generally bullish.how we correlate this with nifty.
NEW POST DONE
@all
i track,
http://www.etintelligence.com/etig/researchchannels/markets/equityMarket.jsp#instanex
A new index, namely the Instanex FII index came into existence to compete Nifty and Sensex. It will track the 15 stocks in which FII funds have been invested. These stocks account for 55 per cent of the market cap of the FII holdings in India.
Since FII are the most successful investors in India and their investments and disinvestments (Inflows and outflows) also determine the direction of Indian stock market.
“The index is for those investors who want to replicate what the FIIs do in the market”
@ Rajnish kumar,
If you have spotted a falling wedge and if it breaks out of the same, equities should decline generally. In the daily time frame, $ index is in down trend - to be kept in mind.
I have not seen such a pattern. Any links..??
@all
i said its rumuor,i am not interested in it...i just want to share it...if it disturb anybody..sorry for that... i dont pay attention but many brokers stop their buy calls after 12 p.m. plz confirm... from your broker...
Ilango what is the target coming for the 5th wave as per present wave
calculation?
@
Tot amit
i click on your name but your profile/blog
is not available and i rqsted for link
thnx
kk
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