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 ...
48 comments:
reliance showing weakness which is also reflected in nifty, reliance have to perform if nifty has to sustain new high
Ilango Sir, what would be the right level to enter now?
ilango sir pls advice me in nifty
@ Janak,
If the uptrend need to continue, 5335-5355 zone (maximum upto 5300 is alright, though not preferred) should hold for the next(last ?) part of the upmove. Correction should not consume more than 7 to 9 hours.
Breach of 5297 would confirm a reversal.
@ Soha,
If it is a correction, it should restrict itself to (5335)5355 to 5405. Trade this zone with the help of the intra charts.
It's just broken the high of 21 Jun, so its consolidating. Hopefully the uptrend will continue.
sir can buy nifty by SAR signals (tbl. no 6)
buy nifty at 5370 ns
or maybe this is the cup, it'll form a handle down halfway? Didn't think of that before.
GM Respected Illango sir and blogmates
RG SIR are you still holding short in bpc/hpc...me too what should be the tgts sir?
regards
vikram
Vikram
690 AND 470 First target. Please note that my shorts are in August.
@ Yoda,
In Bank Nifty, such a pattern has developed from 9793 to 9301 & then to 9801 today in a rounding bottom fashion. If a handle kind of pattern develops upto 9650, that would qualify for a cup & handle. - That is a bullish view.
Moving past 9800 again would keep the bullishness but negate the pattern.
ok, thanks, Ilango, I'll wait for confirmation of the pattern first then.
@sir
Your earlier view on RIl is still there OR it is voilated by sharp fast corrective move of today. If if go by EW, RIL has to go down more today to complete corrective waves 1,3,(5-pending)
On another blog- the bes business in the world - came across an interesting article- how much can be made from 1 lac in a month.he says- 10% per week on total capital is extreme case and job of out and out professional.2.5% per week is achievable.anything more than 1% per week consistently is ok. My question is persons who advertise and public their track record of 500 point- 600 point in a month - is it bogus? friends, ur views pl. Although i remember , someone told on this blog some time back, that even in conservative trade set up of this blog, people earn handsome amount.
Ilango sir and all, Is there any positive news of Reliance?
@ Sea,
If you have studied #7.SAR signals, follow it as it develops. To gain confidence, paper trade and combine some other method along with this to improve efficiency. And book profits.
MDK,
One simple thing. If one can earn 500 points in 1 NF lot, that means 25k per month and by doing just 2 lots, he can make 50k.
If anyone earns that type of returns, then you ask one question yourself, if u are earning that amount will u start to sell or will u start to share the method with ppl so that they also earn.
hope u get the reply.
Sunil
thank u sir
now here is a question to all - ideally, how many lots of NIFTY should one trend when markets are bullish, bearish or choppy...i know it is a stupid question but it would be interesting to know..
mdk
i hv never come across a person(Except RG)
who didnt make a loss trading intra or F&O till date intially..
its with time one learns..moreover its luck..
its ur and my luck that we read this blog..
now i hv a batch of frnds who track JN..one of my sub-broker
and the main broker too..
c d family growing..
@Janak,
I feel you should think about what percent of your portfolio are you ready to risk in a trade ? The standard among good traders is 3-5%. For Nifty futures 1 lot, it is approx 25k in margin. So your portfolio should be 5L. If your portfolio is lesser, then trading stocks is better. Said that, I risk much higher - 10-15% in a trade.
If you plan to trade 4 Nifty future lots, I would think you should have 20L portfolio. Nifty might never tank 50% in an hour or day but I just said the rule of thumb in the stock world.
@MDK,
If they are doing it as a paid service, then whether they get it right or not, they get the service fees. Like brokerage.
As someone said, I am sure some house money is also involved in the trades.
Manu.
(Except RG) - You forgot the bitter pill I swallowed in May Expiry?
Major highs are defined by a sequence of 1~3 spinning tops. If we are in the topping process then today could be one spinning top (low of 5335/5310 and close around the 5350 levels)
Pls see the attached google doc
https://docs.google.com/document/edit?id=15qOo62fqqW9epSEwIxJA3slqWSaz9wjPLAELXnLmONc&hl=en&authkey=CM6h29sI
Good afternoon Ilango sir and all,
Sir, I have sent a mail. Kindly clarify if possible within market hours else EOD.
Rg
u r d hanuman of ths blog and i m ur tail..
lets burn "lanka"
Yoda said...
Lovely analysis, Ilango!
Please give us some of your terrific charts as well to visualise it. :)
July 19, 2008 12:40 AM
:D
Just a thought:
At this high level Nifty is trading at 8pt d.c. It is a nice way to entice people to go Long and discourage from going Short. Go Long if premium is revised from D.c. u gain. Go short and the same happens u lose points.
Wow. Smart cookies are these oprs.
Krish, looks like that to me too. But I'm hoping it'll just seek a lower level and shoot off again.
"i m ur tail." Hi Manu - aag toh poonch mae hee laga !!!
Euro slipping off highs made last Thursday (cmp 1.257).....is abc corrective rally done on Euro & we may see another sell off?
Someone watching Punjab National Bank - looks like Carl Lewis is warming up.
@rg,
Good analysis on discount/premium.
can somebody share - what is point wise return of conservative trade this year as on date?
Nifty trend based on option analysis:
http://pivottrading.awardspace.co.uk/pivot/pivot/trendFinder.html
Nifty Possible Tgts
38.2% of 0 - 3 = 5455
50.0% of 0 - 3 = 5523
61.8% of 0 - 3 = 5593
5523 is more likely.
Sir,
Can you please update the rsi chart?
@rg,
PNB. scary to look at the neg div. But then stocks close to 52-wk highs can do anything. Carl Lewis backwards ?
@manojag
As per this calculator it'll say trend is down (for most of the days) since may expiry (since market is options heavy since may exp).....I dont think can rely much on this.
Hai everyone
Nifty spot Chart with Hour RSI.
http://niftychartsandpatterns.blogspot.com/2010/07/nifty-spot-chart-with-hour-rsi.html
Thank you
Currently backtesting 2 day swing trading plan. Buy above 2 day high, sell below 2 day low.But not able to fix proper SL to gain profit. Tried 2 day lower high, lower low, higher low, lower closing,higher closing , but it is not working. Can somebody guide? I am aware of VFM site SL process, but want simple one
Rg
"poonch(parwane) is pooch" jalne mein kys mazaa hai..
Sir
big ask..
plz label a chart of nifty frm incorporation till date..may be EOD
rg sir,
pnb looks interesting as it has not done anything whereas bnf has run up.
i dont see any -ve divergence.
as u said carl lewis warming up.
bnf has also made inhs in daily as rv pointed
for nifty yesterday.
as for nifty bnf can also have corresponding targets
of 10800
@rg, @piyush,
Neg div in PNB. Unless i am missing something.
http://picasaweb.google.com/lh/photo/IsHVEZPBInU3NN7gEqRKPtpNWfUZfhSp_LTyA94rUdg?feat=directlink
NEW POST DONE.
@gd,
it is in a range and oscilattors go towards 0
in ranges. suddenly there will be one big bar.
the oscillator wont catch up. in my observation i have
not found out to be actionable divergence though market can do
anything anytime. bnf it if closes above 9760 will have a
negaitve divergence
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