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...
77 comments:
Ilango paa ji i request you to add this link to your blog list.
USEFUL LINK
http://protradingblogs.blogspot.com/
BOOK MARK IT NOW.
REGARDS
PRO TRADER
@ pro treder
Reguest to brighten your blog as it
is too dark
thnx kk
Ilango sir can it b a good idea to short here with 5260 as s&r.
Thanks
"paa ji"??
I'd request that pro trader not be so repetitive. Its not a moving crowd here.
Ilango Sir, that was a useful info - a layman like me who can't understand the chart wud get a clue from such a simple language....at 2 pm, it is trading higher than 5236 - so i guess, bulls will have their say today
"paa ji"??
Maa ji - cud u open the xls?
Shorted at 5260.
Wat shud be the SL?
"intaha ho gayi intezaar ki........"
"aa nahi rahi khabar meri nifty ke upar yah neeche ki"
yeh hamein hein yakeen bewafa woh nahi..phir wajah kya hui
intezar ki"""""""""""""""""""""
@ manu!!
phir wajah kya hui intezar ki"""""""""""""""""""""
@manu bhai
phir wajah kya hui...intezar ki?
Wajah hai Rajapaji's "see-saw trading system"
Whole world has started using this "POTI" system
you have to distract RG to do some OoT
So that we can begin our trading for this week
Other wise keep singing the song
"intaha ho gayi intezaar ki........"
Anuj - Short covered.
Is it right? Is my 7 points Trade Real? Trade is not at the top or bottom dear. It is at the middle. (What would have happened had Karna aimed at Arjun's heart instead of the head?).
Rajagopal sir,
Even then Krishna would have had some trick or the other. "MAYAKKANNAN"
RG,
What levels to short IDEA?
Ilango sir,
I have sent a mail. Kindly clarify - If possible within Market hours.
Sure Satheesh "Sutradhari".
===
Manoj - covered my short and in Long. Must be touching 59.60 before reversal.
(feel what ever be the level, results may hit it).
"Is it right? Is my 7 points Trade Real?"
Well Rajapaji...I never doubted your trade..why are you troubled?
In fact talking about scalping...In pits scalping its done by buying at bid and selling at ask
& points is still to large for the scalpers on floor
Ultimately its all about our temperament and cost that decides our trading style
My total brokerage is for than 7 points!
Sorry if my comment had hurt you...that was never my intention
ilango sir, wht will be hr low ema for this hr till now, below which we can short aggressively?
Thanks
No no Anuj. I am trying to pull u into it. But in this competitive market how come you earn for your broker only?
@rajagopal,
No trade is a better option. And surf the web :). Free entertainment...
Illango Sir Nf near to 5233 day low ema
Should we out from our longs now or wait another half hour
to take right decision?
It becomes very hard now to take a fine decision.
LIKELY CLOSE BELOW HOURLY LOW EMA AT 3.00 PM.
Sorry about typos....I am writing in dark
What a dull day, I've taken a walk, watched a movie now I think I'll go and sleep instead.:/
REPOSTING
"Is it right? Is my 7 points Trade Real?"
Well Rajapaji...I never doubted your trade..why are you troubled?
In fact talking about scalping...In pits scalping its done by buying at bid and selling at ask
7 points is still to large for the scalpers on floor
Ultimately its all about our temperament and cost that decides our trading style
My total brokerage is more than 7 points!
Sorry if my comment had hurt you...that was never my intention
sir
wht will b d day low ema at 3:30..
and wht to do fr conservative longs ?
Hi Ilango,
An observation -
Previously positive divergences usually worked out. This time
it hasn't worked out. This was previously happening to negative divergences.
Or it could just be my bearish bias :)
Anuj-replied. But why such high brokerage? The fellows are killing each other for business.
Yoda Sir still holding long on Nf?
Caryy it or not I am much cofused
If U & sir reply I will be much assured to take right
decision
Well Rajapaji... go and ask icicidirect for that
How much is your brokerage...2 points?
@ Satheesh,
470-472 is the main support breaking of which there could be some downsides upto 455-460.
Overall the prices have been below critical emas suggesting weakness. It pays to be in a trade that goes with these emas.
To go long, why not wait for them to close above atleast the "Close ema".
Hi Anuj, you need to get a new trading account.
Sir,
What is the 3.00pm low and close? My system is giving some error!!
Sir,
What is the 3.00pm low and close for NS? My system is giving some error!!
Musti,
Confusion – that’s the only word to describe this market..just follow your gut feel in such times or stay away ..
Me too confused- so holding both longs and puts :)
Hi everyone..
Anuj-Sharekhan,Religare and IB have given 1.7 points (all inclusive). First given by Sharekhan and showed the mail to the other two to get the revision.
"close ema"?
fr tisco it is?
ilango sir, can we carry shorts taken aggressively at 3.00
closing?
@ Satheesh,
It is 5230.8
Looks like a gravestone doji forming for today. 5220 ( 20 DMA ) was held. Can someone tell me what the volume was today ? Above average or less ?
Thanks
“Puts” - read it as shorts
Sathees,
TT – updated by sir..
and Anuj - closing the last Long for the day @ 5158. (thrice before our exchange thrice during). 48 points total, 12 to broker, 36 to me.
@ Satheesh,
It is 5230.8
“Puts” - read it as shorts
Sathees,
TT – updated by sir..
Mr GG ji
I have got one with IB as well..
Can you suggest any broker?...what will be the brokerage in percentage terms?
and Anuj - closing the last Long for the day @ 5158. (thrice before our exchange thrice during). 48 points total, 12 to broker, 36 to me.
Thankyou sir for your clarification
Looks like a gravestone doji forming for today. 5220 ( 20 DMA ) was held. Can someone tell me what the volume was today ? Above average or less ?
Thanks
@ anuj
I am paying 2 paisa with Indiabulls & 1 paisa with Unicon.
If a "25 point" market should not confuse your weekend view..
Wait out for the crucial levels to be taken out which keeps "contracting" by the day.
@ilango sir,
At 3, we closed below day low EMA. Weakness ?
Yes..gd,
That is an "Aggressive Sell" trigger.
@teejay
for same day it is on both side or one side only
kk
photo finish
thanks Teejay...
Can it go lower than 1 paisa ?..I mean what is the lowest you have heard?
It depends on volume as well
:))
Anuj - on Sharekhan 1.5 points intraday and 3 points for
carryover.
I read from today’s flat market ..position from last week, can carry the same..fresh entries still can wait..
Bye Sir. Bye Friends.
Illang sir & all others,
could any body show some light about this link for nifty?
http://www.niftylivecharts.com/nifty_future_live_chart.html
thanks GG ji
Bye all...Bye Rajapaji
@ Anuj,
Yeah volume matters but as am having an old account , so even if I dont trade much ( just 1-2 lot ) , I am getting that brokerage.
I prefer India Bulls even coz PIB terminal ( but now it sucks with everytime we have to give security code ).
Unicon , KA securities etc with 1 paisa are good if they provide NEAT/ODIN terminal facility .
I have heard of RK global n Reliance money who provide unlimited trades with fixed monthly charges but never tried as their services are not good.
teejay
sorry, I was afk, musti, yes I'm still carrying longs. Bought one more today. Everything happening convinces me it'll turn up soon. But don't let the reassurance make you careless about setting a stop tomorrow.
teejay,
I trade with IB but I'm not getting your brokerage rate, mine's as high as Anuj's. They don't have a very fair system of distributing their brokerage, do they?:)
hi az
cum on to chat box OJN
Hi manu
check
@ yoda
Yeah they charge differently, it depends on ur RM & if you can show them proof of low brokerage you are getting else where... they will offer you less.
On IB , I pay around 1 point buy + 1 point sell + STT+ other tax = 3.5
On Ka securities & Unicon i.e ~ 2.5 points total sell & buy.
Turnover for today
NSE cash 7746 Cr
BSE cash 2823 Cr
FNO NSE 35502 Cr
-----------------
Total 48071 Cr.
@teejay and yoda
My IB brokerage is low .02%...but I am still stuck with old love icicidirect
overall in terms of service icici is good...I had some issues with transfering money with IB to my bank account...thats you dont trade much from IB..Icici very convenient regarding bank transfer (at least for me).But it used to have many issues with web based trading.Reduced now
PIB is quite use less as it shows Intraday charts only
Check todays RNRL chart in PIB...you will know why am saying it sucks
Try to draw a trendline in that chart!!!!!
Charting is quite poor
@ Anuj
Yeah charting is very poor at India bulls...
No option to put multiple EMAs ... indicators are of no use.
Payment gateway fro IB is okay .. for deposit it transfers immideatly and increses limit, for withdrawl it takes 2 days to get money.
For charting we have to go for other services.
or See chart in ICICI and trade else where :D
teejay
Look at the turn over and you will realize that why Mumbai is called financial capital of the country.Almost no participation so no turn over from Metro cities today.
There were only two Big (?) trades today. In the morning at 9.00 AM, 5243-Qty 1,38,450 and at 3.29PM, 5246-Qty 1,96,150.And for the entire day trading activity, there were only 4 trades which consist 1 lac plus volume.On an average 2.5 lac onward volume trades are the routine practice.So the range was of just 30 Points.Dear manu, so Eis liye "itane intazar ke bavjood "MEENA" nahi aai".
Today based on EMA spreadsheet, both paper trades were losses. 29 points. I still am not sure what is the exit criteria. But we will see how this continues for a month or two.
Maybe this is Dalal street's way of participating in the bandh.
Good Evening Ilango ji and All,
I am planning to take a Child care mutual fund.
How to select and what are the factors to consider
for the same. Please guide,
Thanks
Gnana
@teejay
Yes that payment gateway problem :(
Sailing in same boat
btw how can one try to understand that it is going to be a day like this with the help of yahoo technical charts ?
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