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...
58 comments:
27th July'10 = RBI MEETING + FUTURE EXPIRY = NF at 5300 ? :-)
Volumes Hoggers 10 to 12
SCRIPT % OF 5DAY % OF YDAY Trend
CAIRN 106 127 UP
GUJAMBUJA 302 174 UP
NALCO 136 113 UP
POWERGRID 129 218 UP
RANBAXY 107 88 UP
Posted a chart showing the importance of "5375 & 5395" for the immediate T/F.
Ilango Sir, shorted just 1 NF lot at 5396 - testing waters :-)
Is it profit booking time in Reality (now it will shoot up)
Today Even BN has become quite boring
Fertilizers getting hot. Chambal starting to look good, if only some volume comes.
Deepak Fert. looks best.
USD index weekly chart shows a bounce back from the 50% retracement level.
@Lalit and Bhavan,
I absentmindedly commented in the previous. Plz check. My pib is the same as yours Lalit, and Bhavan, just insert cap --> indices ---> India VIX.:)
NEWS OF CHINA TO SHUT DOWN THEIR 75% OF STEEL UNITS.
==Circulated Info.
ga sir and friends
unitech shud fall below 81 to enter downtrend.
cooling off also visible in dlf
Hi all
Just came back and it looks like an another boring day!! Or we will see some fireworks.
5400 CE OI reducing a bit and so is for 5300 CE
Rajgopal,
Chinese are consolidating their steel production. The
shut down/closure is of small units. This info may not
be a negative impact especially in view of lower
international demand in the current scenario
Read as "5375 to 5402" as decisive.
GK - As mentioned just circulated info. Some of the Best Business brains are in China. They would have contemplated the lack of Demand in Europe - to select the time. Even Chinese Reality sector is in a slow down.
Short Aug 5409.
Yes Rajgopal,
agree with your observations about China.
PCR of 5200-5600 Strikes increasing 0.71 now vs 0.68 yesterday
OI Addition in 5200-5600 strikes
Calls - (26,400)
Puts - 933,350
just see 5400 CE OI, continously reducing for last few min.
move seen after many many days
In the previous attempts at 5400, the market just
touched the point and fell, but this time around
market is hanging on to the levels near 5400 and may
break out on the upside.
Bought NF 5408 SL 5398 Target 5450
with 60l 5400 PE OI, it looks 5350 will be strong support for this series and 5455-65 will be resistance, as visible from OI in CE and PE
@ 11,12 and 1pm Nifty managed to close near the High.
Sir,
U r welcome Sir :)
we kissed 5402
bought ril @1050 sl 1047
Sir above 5402 can initiate long or short here with small sl?
I still holding shorts made on tuesday.
@manu,
No it didn't. Spot max was 5401.30
@ Manu,
I wasn't able to see that "Kiss"...
Yeh..marketwallah tho bahut romantic hain.
Aur kabhi kabhi bahut violent bhi hain
"isko thodega...usko thodega" ismein bahutlog marebhi gaye
@RG,
Can you please tell me anything about the result of IFCI?
oh no..hari.. u missed d kiss:)
Master in Mood today :D
@manu
yah.....exactly..... :-)
me too:(
Bunty & Babli absent today no updates form their side
5400 ce unwinding is encouraging for bulls
Hi Ilango Sir,
i bought 5000 PE august @28 for the target of 40-60 SL 20. Is it right plan for entry & SL.
Regards,
@Hari,
Kiss thr miss then. :D
@ musti,
A resistance point as shown in the chart above will be met with some selling. It is getting narrower & narrower. If breaks 5390 then towards 5375..15 point here & 10 point there.
2.00PM close may have some clue.
@ Hariarani,
As detailed above, those are intraday levels for the immediate moves.
Till 5375 is broken or 5402 is crossed: no clues
@hari
i also took the same fr a hedge but squrd ..v may
get better price..
@Sir,
eagerly waiting for the Clue? no positions now.
@Fire,
As Ilango sir said, if it kissed.....it may break-out..... :-)
@Sir,
I mean i am waiting for the clue.
@manu,
Yes we may get better price. But i have taken just 2 lots now. Planning to add more if we get better price.
Thank you Ilango Sir.....
@ Piyush Sharda,
Daily 5-D has again working good but required to see the remaining follow up.
Fire - IFCI Results - haven't yet seen. But my take is the move is in expectation of Banking Licence on 27.07 ?
The Clue will come from the market for the bulls by crossing 5402 and for the bulls by breaking 5375.
It may not happen @ 2.00PM
Ilango the Master I love your guidance each moment.
hello friends
new post done
http://stock2gains.blogspot.com/2010/07/tcs-biocon-contrarion-bets.html
thanks
regards
Ilango sir,
your chart is showing Triangle formation with 80 points range.
posted the chart and view:
http://tradingontechnicals.blogspot.com/2010/07/nifty-hourly-chart.html
Thanks
@Hari,
Hoping for the same. Want to sell at the higher levels indicated by Ilangoji as I am mainly a positional trader and never comfortable doing intra. (Burnt fingers too many times, I guess).
@RG,
I sincerely hope the rumour comes true as I am holding a lot of IFCI.
:D
Sir..
is the max upside will be 5435-55
range if v move up as per PMV
Thank You Ilango Sir.
yes sir it is working good till now
NEW POST DONE
Thanks Illango,
Regards,
Nifty Tips For Tomorrow
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