If not, it could continue deeper.
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 ...
94 comments:
Rajagopal said...
Sryas - Bit on the edge CMP for TISCO. My take is around 569-72. Can we consider SAIL? It is also raising with 100+% volumes - and Rs 30 below its High. What do u think?
===
VSNL is breaking out with huge volumes for the past 3 days. PS/Techies pls check at leisure.
Not holding any position. For a swing/positional trader do we short
below 5380 or wait for 5350 to come for going long.
REPOSTING
@Kumar chheda
I would suggest you to take a look at the larger time frame before you take a trade. That way you will reduce the number of trades. Reduce the number of losses as well.
Thank you
thank you San
point taken.
ilango sir,
any guidelines for Bank Nifty....?
Today not updated chart in stock wealth blog...?
-arpit
rg sir ,
probably vsnl name is changed what is it
piyush
vsnl = tata com
Hai everyone
Nifty has violated the 30 minutes support line.
http://niftychartsandpatterns.blogspot.com/2010/07/nifty-30-minutes-chart-with-support-and.html
Thank you.
Thanks Jazz. Skipped my mind. My terminal still shows as VSNL.
(Tata comm news is there - funds mobilisation+JV).
Sir - "If triangle..." -do u recommend holding shorts ? Please.
@ arpit,
It is updated. Please check again. Done at 8.30PM. So the date may show 14.07.10.
Trading below yesterdays low is not a good indication for bulls.
congratulations ilango and everyone! keep up the great work!!
wishing you and everyone all success and happiness.
best rgds
gautam
That should become the low for the day. This is the zone where Bulls should act or lose it all.
ilanog sir,
got it sir.
Thanks
-arpit
Good (u) Show(ed up) GB. Indication of a Good Human. Very happy to see you joining us all in our good wishes.
@Bizagra!
========
Congrats
Dear Ilango,
Hearty Congrats.
May God Bless you and all abundantly!
@ Rajagopal,
Triangles generally appear if the prior move was sharper. Yesterday afternoon fall gets adjusted with a triangle correction this morning.
And triangles appear before the last fall or rise. Here the fall. Now the fall is over .
Triangles mostly appear as 4th waves after a steep 3rd wave.
Yes. Rajagopal. You have put those words before I could.
I sincerely appreciate Gautam's visit to wish us all.
Ok Sir. I have done a red triangle to my intra Short. Will look out to make a gree one.
===
The cost of today's cake must be on Anuj,mok and Sri sir - absentees.
Now, one can spot the +ve divergence in the 5-day chart.
Congrats..Bizagra.
Dear Ilango sir and Team Mates,
YODA,FIRE,MYNAC,BIZAGARA,SAN,RAJAGOPAL.....HAPPY ANNIVERSARY ...
FROM SILENT FOLLOWERS LIKE ME....
GOD BLESS U ALL
thank u sir and rg
Ilango Sir,
Congrats! wish you all the Health Wealth and Success.
Rakesh
Ilango Sir, just the other day there was a fast rise setup at 5365 - is there anything today?
Dear Gautam sir!
Thanx for ur good wishes to all of us, nice to see u here after few days. Thanx again from bottom of my heart, take care.
Rgrds,
KUMAR
RG
i am the second one to wish well before...
today also i am present inspite of heavy load on my desk...
in fact i am planning to suggest to mok to do congressional hearing on your absence..
@all
divergence setting in 1 minute and 5 minute charts
just wondering if thats a hns formation on the hrly chart.
also if 5 waves up done plus 37 days completed do we still see moves beyond 5456
Hangsang & Shanghai making their cuts deeper....I think still a possibility for nifty to test lower band near 5350-45.
Hi GB...how r u?
Ilango sir and Prabhakar Thanks.
I m out of my shorts now.Ilango sir can we take positional
shorts at break of 5345??
Thanks
thx kumar
RG
forget to add..inspite of above comments,
"will be more happy to bear the cost"
Sri
hi.. hope u made new plans?
Hi Sri - Nice to c u. So the others will share the cost.
btw - i'm in chennai. U have to make it a DMK hearing instead of cong...
(will touch base with both u & mok).
manu
trying....will let u know soon.
RG
referred american congressional hearing types...
Ilango,
The +div is in the 5 minute chart.Cant see it on daily time frame. For a div in 5 min chart how long does the effect of div last?
there is a steady built-up in NF buy quantity - looks like, BULLS are gearing up :-)
Dear Ilango Sir and all other blogmates...
Accept my congratulations on the 2nd anniversary.. though i joined just 9months back.. learnt a lot of good things here other than trading..
what a great place to be...
Ramesh/ SIL
hi manni good
how is OI data ne indications?
sri whats ur take from an astro.view
i updated my vew at niftyequity.blogspot.com
feel free.to comment
sri..
add vaishno devi shrine..all will bcom final..
Hello friends, please find an updates for my trades + a Sai baba bhajan, since its a Sai Vaar today
http://stock2gains.blogspot.com/2010/07/trade-updates-sai-baba-bhajan_14.html
Happy sailing
regards
sir
Can BN be bought @ current lvls i.e 9885 as it is trading above and taken support of High EMA
Rg
i m n a mood 2 buy RIL for the first time..shld i?
manu
this time it will be there...
@GB
This is written sometime back...still fyi
"Astro Inputs
I missed to pointout Mercury & Venus rising in the west from July 05 / July 06 as per our timings which means markets will rise. Anyway, these are now past and let us see what is in store in the coming week
July 12 - Monday - Solar eclipse. Last time when it is happened, market witnessed bull rally. what is the diff this time.
Last time This time
Disha - North West North East
Nakshatra - Arudra
Lord - Rahu
Placement Saggitarius
Disha South East
Symbol Fire / Agni
Market
Representative FII
so what can we expect on this eclipse? my guess is probably FII (Rahu) will take this rally to new high and will start offloading & withdrawing from indian markets from July 14 or 15 onwards.
why am taking this view rather than past history of rallies..
1. Sun transits in to cancer on July 15 & from July 20, travels in Pushya, Star of Saturn
2. Mars, which is travelling so far on Venus ruled star of purvaphalguni, shifts to uttaraphalguni, ruled by Sun.
Effectively Mars -> Sun -> Saturn. Saturn wants discipline.
3. as per some panchang, Jupiter turns retrograde from July 15 which means Saturn's obstacle is removed for the time being.
Hi GB,
If I remember correctly, you had originally predicted Nifty to hit 5600 by July end.
Was that negated or still chance of reaching that level?
@shr
5656 is mystical figure i do expect..when is the big Q?
@ Manojag,
A 5 waves seem to have been done at this lows. So expect an "abc" kind of upmove. Presently concerned with the direction alone.
If this is correcting the previous fall, a retracement selling once the form takes completion.
As the sub waves are of 5, it could be a zigzag and hence it should not retrace more than 75% of this fall.
Sri,
Nice astro presentation, please tell its going to be bullish or bearish for next week.
The positive divergence working
Manu - 150% volumes today(of 5day avg) and standing still. Seems like Bade bhai is waiting for Shubh muhurat - may be 2.30 today ?
sri
conclusions:)
RG
Nothing significant on OI front today....dull day.
pls chech this site
http://www.nationalfutures.com/fibonacci_calculator.htm
@Dineshji
Thanks. But i dont do weeks and days though it can be done...the above is written long back for my friends in this blog who take it as additional input to arrive at their own analysis of market movement...
I believe in that approach...
@Manu
will mail u
Hello friends
your kind attention please
Following is the link where i mentioned the posting of a block buster trade
http://stock2gains.blogspot.com/2010/07/trade-updates.html
that time vishal retail was trading >60
then in this post :
http://stock2gains.blogspot.com/2010/07/trade-updates-sai-baba-bhajan.html
i again mentioned block buster trade is soon to follow
& finally posted it on 13 th july
http://stock2gains.blogspot.com/2010/07/trade-updates_13.html
What i mean is, when vishal retail was trading > 60, 7 days in advance i had spotted that its surely gonna fall <53
then buy was recommended in the range of 53-51, Exact low made is 50.90. Tgt mentioned is 59, tgt 2 is 66 & medium term tgt is 92-97.
Now its a wishful thinking but if its come true, then vishal retail should start hitting continous upper circuit from today onwards for a tgt of 66 at least, likewise i spotted a tgt of 470 + in the same post, one day in advance for century textiles when it was trading at 463 to be bought in the range of 458-457, exact low made was 457.
Please keep visiting STOCK2GAINS.blogspot.com for encouragement to such pin point successes & dont restrain urslf from a criticism whenever u see a flaw.
thanks
regards
@SriGaneshh,
I hope soon, by this expiry. I mean we are so near, just give us another 200 points rather than setting us off on the roller coaster again.
In your post you mentioned July 14th/15th FII will abandon our markets, I hope the V turn did not start yesterday.
shr thanks yes i did what negated the fall was a break below 4950
timewise i dont think we can head there.
but mkt will show us the direction
huge stimulus pgs may be in the offing in the US
lower bank rates can push us higer whoch can push us higher as well
Nice article:
http://www.moneyandmarkets.com/latest-ecri-weekly-leading-indicator-confirms-my-bearish-outlook-39632
Nothing happenning in OI. In US markets, I learnt yesterday that only half the stimulus money ( the 1T that Obama introduced last year ) has been spent till now. So they will use that going into the elections to booost the job market and the stock market.
Ilango sir, plz clear conservatives are still sitting with longs
with s&r 5285???i m having no trade.
thanks
RG
Ril?
@Ilangoji,
There are clear 5 waves impulse down as u posted in your comments. a-b-c retracements can come upto 5395,5417,5429 (38,62,75%).Considering this, if NS comes between 5415-5429, should it be the agressive short for impulse 3 down by tomorrow or most probably Monday/ tuesday? In this case what would be stop loss please?
Ilango,
This abc could restrict itself to either 23.8,38.2 or 50% as per me and the clues we will get at the close as to how is nifty placed vis a vis 5DEMA. If it closes below that than should remember that tomorrow being Friday it could turn ugly (black).
Thanks GB for the update. I wish we get a higher price to go short from.
no major call writing except 3-4 lacs in 5400 ce and 1.5 L in 5300 calls, seen. Also no major put winding see. Put writing has vanished from yesterday though. No clear indication from open interest side. Looks liks call writers and put writers both are very confident.
Call writers are confident of 5400-500 level not breaking up before expiry and put writers are betting for 5300 level.
5400 put writers are not there. Only covering is seen yesterday and today. Not major though.
Ilango Sir,
==========
I have long in NF @5367 with SL5348 NS. Please give me profit level.
==========
Sir,
if the 5thwave is over and the next abc correction is on - then as per 75% retracement NS should reach 5437. Am I right sir?
Sir,
fast rise set up in 5min charts?
wow, vertical rise!:)
Master once again proved that why we follow this blog
@ Prabhakar,
5405-5420 is the resistance area.
Above 5435, new highs.
@ Satheesh,
If this is a corrective upmove, the max. upside is 75% which is 5430.
@Sri,
Jupiter going retrograde on 24th July. I expect market to slowly go down by then, and from there big drop. What is your astro calculation?
Manu - responded already. I am waiting for Mr 2.30.(RIL).
===
BPCL I tgt done 655 - I lot exited.
=====
Thank you Ilango Sir
=====
Rg
thnks .. i m already in..
lets c hw ths first timer wrks?
@Rajvada
tamil panchangs showing it from 15th...
@RG, BPCL what is the next target? I have 660put bought at 8.
@SRI,
There are different ways. In nut-shel what is your Atro prediction?
well, in last 15 min, 5400 CE OI addittion reduced to 1.5 (appx.) and 5300 to nil.
shr - 630 or lower - i.e. after recovery from an OS if it happens. Govt decision has negated all charm in OMCs.
Thanks RG, 5 day chart shows it is oversold and trying a small (?) bounce - http://finance.yahoo.com/echarts?s=^NSEI#chart1:symbol=bpcl.ns;range=5d;indicator=rsi%289%29+stochasticslow+macd;charttype=line;crosshair=on;ohlcvalues=0;logscale=off;source=undefined
@all
we are dancing to the dow tunes, trade cautiously...
hi drea sir .
in nifty may be fast fall set up near 5396?
regards,
alpesh
this blog has become a "HOTSPOT".....with new people coming up with ideas and discussions.....i sense something today....MORE interesting
The birthday boy's father is on fire today :-) ... congrats to the dad for conceiving this lovely child ... & dear child 'Happy Brithday' from a uncle
@ilango
sir a few days back u said we can fall big from the "high" or we can slide down and come up for a new high....
assuming the top is in place for ST at 5450...do u have any inputs as of now for the next move....
From Mok
"Where the telescope ends,
the microscope begins.
Which of the two has the grander view?"
-from Les Miserables (1862) by Victor Hugo
at JN, ilango sir keeps both Tele & Microscopes together on the Long & ShortTerm trends
:)
Thanks sir, I get posting problem, not getting beyond the comment box.
regards
mok
Sir,
mok is not able to post due to his browser problems...the post is on behalf of mok
NEW POST DONE.
5400 pe added 4.5 lcs ( till now) . Noticeable move if not major, because it is done in last one hour, and earlier put writers were mostly touching 5300 PE and not 5400 PE to this extent.
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