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...
36 comments:
Sorry again I am late - @ RG - another observation of Nos. - If 5359 not taken out.. then 5336/5313/5290 upside 5359/5382/5405 it will play.. i am always with "TTSL"
July 9, 2010 12:09 PM
"Euro/USD" is making new uptrend highs from its low of 1.19.
"Fractals" of yesterday repeating today in a lower cycle. A 25-30 point drop from the high would be a buying opportunity.
considering 61.8% target for 5th wave to 0 - 3rd wave top the target comes arround 5590 and time frame about another 1 - 1 & 1/2 weeks, am I anywhere near sir?
pls guide!
Nifty, you've taken long enough, you should go up another 30 pts now.:)
dollar index
today " low pe low lagate chalo"
EMA spreadsheet profitable trade done today. Until now - 3 losing trades, 4 profitable trades.
Notes -
Had to actively move SL ( based on the spreadsheet ) to lock in profits.
considering 61.8% target for 5th wave to 0 - 3rd wave top the target comes arround 5590 and time frame about another 1 - 1 & 1/2 weeks, am I anywhere near sir?
pls guide!
Ilangoji,
Some negative divergence is seen in the intra charts. Is it significant or it can be ignored as the 3rd of the 5th is running?
reposting...........
hi ilango sir,
which level comfortable to buy "nifty" and "bank nifty"
as per " EW WAVE " and " TA ". sir plz give some " ew "
conformation in bank nifty .
now u give bank nifty fut is steel going in A-B-C
fation so now "1-2-3-4-5" is steel coming or not ?
sir thx for yr valueable suggestion on everytime
forever
regards,
alpesh
@ Fire,
As long as the corrections are smaller(38% - 50%) than the previous rise in the "Hour time frame", ride this upmove.
Today the gain % is quite significant in individual stocks.
When you look "too close", your opinion may change frequently. But if you accept the drops as corrections, you will trade relaxingly.
Ilango sir, if we cross 5400, can we take that ABC still going
from 2250??
sir
hw u r able 2 look all parameters and justify..
yes! tisco was making
a new intra high when nifty ws crrecting
@ alpesh,
Believe me...I look at BN only for 5 minutes and post my views and my assessment has been quite extraordinary as per our "Babu's" following.
I do not trade in it. But Babu does it.
It is mostly based on TA and a bit of EW.
I repeat..I am no EW expert but use its principles when ever things are clear.
My point here is: If I spend little time in BN, my assessment is clear. If I spend more time, I may start to see "double vision" as I do with Nifty.
In summary, follow TA if you are not very confident of EW. TA is good enough.
Dear Sir,
Decision will be out by govt whether to deregulate oil price as per market or not..
Expecting that they are going to take back there decision one can go short in oil stocks as soon as news flashes in...
Just a info wanted to share
Yes Sir, May & June, upto now july.. combined i got 100% return from BN ( from Stock wealth) . Some times I surprised levels met with accuracy
thx sir for yr kindly reply
sir moreone quary " which level is comfort for buy
nifty and bank nifty
plz if u have time after mkt hours plz some clear
" EW " DIRECTION in bank nifty
one request for this
regards,
alpesh
Hai everyone
Nifty is forming a bearish pattern.
http://niftychartsandpatterns.blogspot.com/2010/07/nifty-futures-forming-bearish-pattern.html
Thank you
Ilangoji,
This last upmove started from 5305 NF and made a high of 5367.5 so far. 50% retracement level comes to about 5337 which coincides with the 23.6% retracement level of the upmove from 5235.6 to 5367.5. So, could I keep my trailing SL @ 5335 now? Is this method alright?
@ Fire,
Keep 5288(Yesterday's low) as SL for today and today's low as SL for Monday.
Ilangoji,
Thanks.
Heading towards "5319" Day High ema.
Thanks to the friend who posted TA for BPCL Short. Subsequently confirmed with probable -ve news awaited for OMCs.
Will get negated on a move past 5345.
I think 5340 should be held in NF
ilango sir
i am a loyal follower
i bought nf at 5346.u told earlier 25-30 point dip from highs can be bought in to.
now i am afraid of '5319' message.
thank you
@ Jojo,
Last two days, Nifty has gone & closed below day High ema and today's intra move is "mirror image" of yesterday's intra move. Hence, that observation. If 5340(+/-)NF holds, this mirror image fractal can fail too.
The earlier view was based on the drop from 5320 to 5291 of yesterday intra.
@jojo,
You should by @5326 :) why you bought at 20 points above?. When you trade.. ready for risk too:)
thank you very much for your reply sir.you made my day.
i am exited nf at 5350
sorry earlier made my comments with protrader id.
thank you.
babu sir
5367 is nf high
5367-5346 = 21 points correction from high.
thank you for your reply babu sir.
"ILANGO" sir please hint if you talk about nf price
thank you
Hi Elango,
Regarding BN, You indicated as "Babu's following". Can you elaborate what are following or any link to refer?
Bose
short infosys for a target of 2600 by wednesday after results. This is the i leg of symetrical new wave of nifty and it can maximum go upto 5500 but the chnaces are that it will be failure leg.
NEW POST DONE.
@ Chandra,
"Babu" our regular reader trades in BN and has been following BN thru'mu other blog "Stockwealth" and his trading success has verified its effectiveness as I do not trade in BN.
Bank Nifty looking super solid not giving any hint to come down...
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