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 ...
67 comments:
Euro 1.254.....1.248 next??
Ilango,
You have mentioned that on can go short i/3rd qty on a CLOSE below daily high ema. By this CLOSE do we understand it be at the end of an hour or only at the end of the day close.
thanks
Bhavan - Whenever u read "HNI/Institution/Broking House" accumulation in any counter, just go SHORT for the day. My experience is that the day these biggies decide to (part/full) book, they release the news into their channel. You note down any stock that you read and check the price on the day. It is a clear trick - these accumulation must have happened at lower levels.
(reg Polaris).
@babu,
evening star in bnf 30 min charts. confirm frm sir
abt ur position if u still have
@ilango sir,
Close below low EMA last hour. Caution. Reversal confirm next hour or two ? Or wait for EOD ?
i agree with Mr.Rajagopal wrt Polaris...
the stock can definately correct from current levels
Arpit
@Piyush,
Sir many times told he don't track BN in trading time. So may be its not right to ask :). target 9925 or sl 9760 :). This is the problem if one don't know technicals. But learned to live with it... :)
OT...
Unitech at resistance 79.5. If broken through, can go to 86. Wondering how it reacts to bigger market ? I am holding for a positional trade from 75. Any thoughts ?
@ Manojag,
When we take the day time frame, it is based on the close only.Nifty could go below 5360(Day high ema) intraday but may not close below it.
Ilango,
Got it. Thanks
Ilango Sir, my reading today is that market has taken a halt till EU. opens - then it will move towards 5395 - am i right?
Hi Everybody!
5415 is still proving a strong resistance so hold ur shorts of yesterday tightly with stop loss of 5415 and book profit as per levels 5350-5335-5300. Below 5300 Nifty will give more trouble to Bulls, Infosys already trading below 5 & 20 days mvg avgs so longs are safe above 5415 only. Just caution, no sign of aggressive selling but this caution may provide you big selling opportunity.
Rgrds,
KUMAR
Sir,
Today you have given us excellent and simple trade plan- risk free trading by pyramiding of EMAs.It is very simple and conservative set up of trade . For people like us, whoare not proficient in TA, can trade based on TT only. Initial stop loss is 20 points, but when we move upwards, how to keep stop loss
kumar, careful with INFY counter - lot of shorts are there - when people will start covering them - u will never know - it might just happen this afternoon....
According to RSI and MACD there is still space in higher side. It may be touch 5443 in this week.
whats yr view illango sir?
www.myniftycalls.com
May be Sunpharma Starting - it runs anti market very well.
Ilango Sir,
I am new to your blog and trying to learn your system of trading. For a
positional/swing trader like me this site is god-send so thank you
very much for taking so much trouble to guide retail investors like me.
Now what I understand about making shorts based EOD is
1/3 BELOW Day High EMA ---> this is 5360 EOD
1/3 BELOW 5 day EMA ---> this is 5327 EOD
1/3 BELOW 5 day low EMA ---> I went through your blog but can find the
the 5 day low EMA ; where do we look for this figure ??
thank you very much
Doller Index suddenly 84.6. Is correction in doller over??
sudden fall in sesagoa is there any news?
pls anybody know the reason then tell me.
@ MDK,
Revising the Sl is based on the higher lows being made once the uptrend is on. - a 20 point below the Previous low.
@ Janak,
You are right about the direction but am not sure of the high.
@ Rish,
These emas keep changing based on the day's high & lows. But the Close ema which appears next to the close price - the previous day's close ema needs to be taken into account.
Anuj, my Agra Trip do I get free pass?
@Rish,
Day low EMA is currently at 5324 and 5 day EMA is at 5339.
@GD,
Unitech faces 200 DMA@ 81 levels and then the major resistance comes at 83-83.5 levels.A successful move above that could create a move towards 100+.
Sir,
Part Book done in BN
@ Rajagopal,
When I download the stocks' hour rates from IB a/c, I notice the volume changes. Yesterday at the last hour , there was a huge volume in Suzlon and the stock is up 4% today.
You generally create your BTST/ STBT list. I am sure you monitor the volume action "live" too.
@ Myniftycalls,
Your observations have good merit.
Big red candle !!
Both in Euro & nifty
exited BNF@5860
what was this in nifty!!!!!!!!
a big whack on upside and on downside within 30 seconds. Is this signal anything??
Thank u illango sir...
www.myniftycalls.com
Hai everyone
Nifty spot hour chart updated
http://niftychartsandpatterns.blogspot.com/2010/07/nifty-spot-hour-chart-in-triangle.html
Thank you
alright, that was a temp. correction as MOODY's have downgraded Portugal - Euro fell - shd. not be an issue now, Indian markets have got used to this EURO DRAMA :-)
Out of the last 6 hours, NF has made a high at 5384 levels 3 times. So, a move above it may bring the upmove Ilangoji is telling about.
Sabji,
"Pambariyum pambina kaal" - I do Sir.
Thanx for the information janal.
MOODY is very moody.
WC - trade terminal Shows Short @ 5376 and bought @ 5361 - huge and equal volumes.
OUr Hindi language can decode and recognize this agency very well by its name "moody". Britishers will know by experience though. India First always.
sir
the big ask(labelling)..pending
@piyush sharda
Thank you very much, coz of you i could think risk & reward:) coz of 25 points why to loose 100 points.. any how decided to exit at 9925, so exited BN@9892
harami cross is this the end of 4th.
Ilango sir pls guide?
@ Manu,
It is still in the "iv"th of this 5th wave.
today nifty is just coiled up looking for a breaout ......
sir,
can you please put up the observation of
myniftycalls in chart. i am not able to understand it
my pleasure babu
funniest part is that EUro markets went down close to zero for few seconds and now again shot back 20-30 points UP - but we are not able to do that :-)
thnx sir..
plz draw a labbeled chart in leisure hrs
for ur spoon feeder student..
from april 1996 till date(nifty)
A beutiful fast rise set up is in the making, if "5365" holds.
http://www.nsetracker.blogspot.com/
5400 , 5300 calls written aggresively
http://i29.tinypic.com/x3thmh.jpg
@ sir
sir, see the charts of 5400 Call option after 1.25 pm. big volume and somebody sold in lacs right from 65 (new day high)to 55.55 (new day low). Similarly , it is in 5300 Call option.
Is there any significance of this move in your market trend studies??
Dear Ilangoji,
If we are in the iv of 5, what could the highest level in best scenario Nifty can go, in case 5365 is held?
@ wealth creator,
Being in 5th wave (up by 192 points in this move), the subsequent reversal is likely to retrace this entire upmove. hence, this aggressiveness.
As the highs increases, hedging is first done in a big way.
sir
i m nt able 2 see fast rise in 5 min charts..
plz help
@ Rajvada,
As long as nifty stays above 5297, this 4th of 5th possibility exists. (I would prefer 5335)
The first was from 5233 to 5297 = 64 points and whenever this 5th of 5th starts, add 64 points for an initial target.
Keep following FII buy/ sells for better understanding.
hi
dear sir, ilango
" It is still in the "iv"th of this 5th wave."
so whats level to reenter for buy nifty?
regards,
alpesh
@ Manu,
I have uploaded that chart.
thnx sir..
@ alpesh,
If you observe the fractals chart I have posted in this post, it may not dip below 5255 if it follows earlier fractals. It may stay in this 5255 to 5400 for more time before moving higher.
Dear Ilangoji,
If we consider 5357 the bottm on iv, the 5th target comes at 5421 as per your reply. Can we take a high risk call the reversal around 5420-5425 in a longer time frame?
Guys anyone tracking Titan Industries ?
Whats your take go short at every rise ?
sir,
BN crossed 9900.....now let us see whether it can go up and cross 9923/- 52 weeks high and more than it.....?
-arpit
Tota
unitech trgt coming..
@ Rajvada,
Yes. Aggressively one part of the position can be created. And pyramid on as the prices confirm in your favour.
"iv" seem to be having a triangle structure.
@ Sir
Thanks sir for the educative explanantion.
One lesson to learn from today's move, a move where market is more or less stagnant without any big moves, is that while trading in Call options, remain prepared for your wealth to aprroach ZERO also. Anything can happen. Even unimaginable also in option segment. Check your risk-appetite first before entering in option segment. If in Doubts, Check for today 5400 & 5300 Ce charts, where both new highs and new lows got kissed within 30 seconds.
@ Sir
Thanks sir for the educative explanantion.
One lesson to learn from today's move, a move where market is more or less stagnant without any big moves, is that while trading in Call options, remain prepared for your wealth to aprroach ZERO also. Anything can happen. Even unimaginable also in option segment. Check your risk-appetite first before entering in option segment. If in Doubts, Check for today 5400 & 5300 Ce charts, where both new highs and new lows got kissed within 30 seconds.
NEW POST DONE.
Sir,
Your message to @Rajvada means, we can do part book again @5420 level?
Ilango Master Great call
These Pivots are really very useful.
Come here for Commodity Tips , free MCX tips.
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