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...
84 comments:
Dear PS,Sundar,aZ - my i'net is rectified. Now cud see Sir's TAT. Thanks for the help.
Unwinding at 5100PE, 5200PE taking place (-3.2lacs) & 5300CE call buildup again happening (now 63.4 lacs). Also 5300PE added over 9.5 lacs in OI (now 60 lacs).
Now 5500CE has highest OI at 90lacs. Still no confirmation of mkt direction....but looks like
preparing itself for big move either side.
Got a sell call on Euro for tgt of 1.256 & 1.248 cmp 1.265.
^^^^
-3.2 lacs is for 5100PE
Manni:
Intraday Call: Sell USDINR MCX-SX / NSE-CDS July in the range of 46.98-46.96, T1 46.78 SL 47.08, Disclaimer at ...
USD also.
i think the big UPWARD movement has just started.....
Thanks Anil for Instanex FII Index
@Rajagopal
How is 2.30 factor ?? bullish ?
@ Anil
my broker also stops giving any buy call now.
Also give short Nf below 5305 with sl 5325 NS.
" It mib 40"
Only market with higher than NIFTY's gain during the day.
@all
i track,
http://www.etintelligence.com/etig/researchchannels/markets/equityMarket.jsp#instanex
A new index, namely the Instanex FII index came into existence to compete Nifty and Sensex. It will track the 15 stocks in which FII funds have been invested. These stocks account for 55 per cent of the market cap of the FII holdings in India.
Since FII are the most successful investors in India and their investments and disinvestments (Inflows and outflows) also determine the direction of Indian stock market.
“The index is for those investors who want to replicate what the FIIs do in the market”
@all
i said its rumuor,i am not interested in it...i just want to share it...if it disturb anybody..sorry for that... i dont pay attention but many brokers stop their buy calls after 12 p.m. plz confirm... from your broker...
@RG
Got d call from one of my source....may be he also followed d same :)
@ Rajagopal,
2.30PM... + ve -?
sir,
aap bhi...........
Sir (u 2?) - Yes Sir. Thursday +ve. I am Short.
thursday positive
Rg
y u negating ur thursday
manu thanx 2 PS.(Covered NF Short) Counter Shorts holding.
ilango sir, rajgopal - i didn't follow that cryptic interaction :-( what is it? is NIFTY going up or down based on 2.30 factor?
@ RG - Me too +ve as "New Moon Day" is coming... not expecting much fall.
@ Rajagopal,
My calculations suggested a reversal and it coincided with 2.30PM. Thought of checking.
@Dinesh Rishi
You talked abt BDI in morning, i posted same a weak ago, it seems what i gather information from,
1) Trading activity in china is dull, mainly in copper and steel
2) also, a another indicator for capesize vessels production is going at low, clearly denoting lesser demand coming ahead..
Thats why many are not comfortable with global bounce, by observing BDI, it seems a pure risk shifting stance by global investors..
2.33PM low: 5297.40.
This correction hasn't retraced even 38.2% of the last upmove and already the market is abuzz with sell calls. NS is still trading above yesterday's high. Ilangoji is repeatedly saying that till 5240 holds, the upmove is intact. In 5 minutes charts, NF is correcting in a falling wedge. There was a negative divergence in the 5 minutes chart, which might have played out in this minor fall.The market is shrugging off its intra overbought state. Does the picture really look so worrying now?
why this sudden jump? US Futures have opened?
It looks more like NS testing the channel upper boundary.
Robert prechter said...
“I’m saying: ‘Winter is coming. Buy a coat,’ ” he said. “Other people are advising people to stay naked. If I’m wrong, you’re not hurt. If they’re wrong, you’re dead. It’s pretty benign advice to opt for safety for a while.”
http://www.nytimes.com/2010/07/04/your-money/04stra.html?_r=2
@ Janak
Dow futures is down by 19points!
http://www.bloomberg.com/markets/stocks/futures/
Disclaimer:
I had written puts, and covered some today...i am neither bull nor bear...
upmove over
GB : Welcome. That's guts. Kudos.
Sir
Please clarify.....Close below day high ema => still stucked in 5320-5230 range??
Ilango sir plz suggest for people who entered longs today?
sud we carry?
Thanks
thx rg
manni ur assessment of OI?
Over the past 2 weeks - Europe and US have consistently reversed their day trends post 3.30. Today it looks like a paddy field ready for harvest. When we wake up, it may look like a burnt down forest. Just why I want to be cautious with my pillow trades.
DOW FUT - 25
You mean they are taking the Indians for a ride?
Not fair..
gb sir,
u have made amazinginlgy accurate predictions.
still points to consider
nifty cud be just resting at a resistance. yesterday
pattern wud be island reversal if gap not filled in next
30 min.
piyush accepted.
Hi GB....stated the same earlier....
Unwinding at 5100PE (-3.2lacs) & 5400CE (7.9 lacs ), 5200PE (intraday unwinding) taking place & 5300CE call buildup again happening (now 64.7 lacs). Also 5300PE added over 9.7 lacs in OI (now 60 lacs). 5500CE has highest OI now (nearly 90.5 lacs)
Still no confirmation of mkt direction....but looks like preparing itself for big move either side.
------------------------------------------
"upmove over"
Ur call? Still rangebound or going down?
my stand still remains no 5400
going by laws of physics every action has an equal and opposite reaction
im a student of economics as well did my masters in the subject
This looks Tuesday all over again. 5180 close ??? 5300 CE/PE 65/60.
most stocks have completed the pull back and will now begin to correct
specially mcaps
while evryone expects 1180 or so in ril i xpect 650 odd levels
650?? Did I read it correct??
Went to sleep happily thinking of rm's sweets, and nifty's correction was so mild.;/
We need to allow the market to consolidate at regular intervals. Each correction will take its time based on the TF (time frame) it is correcting.
The day correction took 10 days.
The 2nd wave following the 1st took one full day (yesterday). Now after the minor 1st wave, the minor second wave may consume atleast 2 to 4 hours.
Posted by Ilangoji, at 9.50 AM this morning.
sorry, assortZ's sweets*
And again a flag like downward consolidation seen in the intra charts.
yes manni
sometimw ago when suzlon was tradin in the low 50s i said it would test 60
we saw a high of 59.95
RIL at 650 by one of your turn dates?
shr when the entire mkt collapses all stocks will be dirt cheap. dont expect this one to rally
Puli varudu...puli varudu..
ofcourse, one day puli will come.Then say.."Naan appave sonnen"..!!
Should you stay indoors then..
while i can apply a turn date i also look at the charts for the price action
illango getting offended ? october we will c
naan ippove sonne n appove ille
Hai everyone
Chart with Nifty futures resistance levels updated. Nifty futures got resisted at 5337. I am posting the chart here.
http://niftychartsandpatterns.blogspot.com/2010/07/three-important-resistance-points-for.html
Thank you
Agreed all stocks will be going cheap when the market cracks, but do you foresee this to happen between Aug 9-28 or will it be the october dates?
FTSE is also showing a perfect Bullish Flag pattern in the intra charts.
HI, IM NEW ONE FOR THIS BLOG.
NICE DISCUSSION AND TRADING IDEAS.
THANK YOU ILLANGO SIR.
there is nothing said to offend u btw..
@GB
No doubt about ur dates n levels.....was just figuring where d sensex might be :|
@Rajagopal
Gone short in Bharti...hope to see it around 265 levels soon :)
Hai everyone
Nifty futures has given a GRAVE STONE DOJI.
http://niftychartsandpatterns.blogspot.com/2010/07/grave-stone-doji.html
Thank you
If people had sold as soon as Prechter published his book, in 2002, they'd have missed one helluva bull run in the last 8 yrs.:)
Hi,
can anybody translate Ilango sir's last comment.
curious to know.
Manni - never follow an idiot,drunkard and Nifty.
===
Bye Sir. Bye Friends.
GB : You have interacted with Ilango before me. He is challenging you technically - neither offended nor afraid. "Breathing the market since 1992" - Only way he would survived is by seeking truth and RISK.
@ilango sir,
Good one :).
@GB,
It is a heads or tails. You picked one. Ofcourse u will might get it right 50% of the time.
BTW, where is IITian ? Did he not say 4200 or something by now ?
There is nothing wrong with predicting. Since we are used to so many analysis here, we would like to see some pudding ( proof ).
My prediction: somewhere in 4700-5500 this expiry.
today's close is almost Tuesday's close, what we did on wednesday and thursday lol
LOL @ 'puli varudu'.
On yelnick's blog there was an interesting term for it - bearoin :))
Tot-Amit, 'puli varudu' translated to 'tigress will come'.
Keep shouting that. One day obviosuly the tigress will come and then you say
'I told you so'. Does that mean we stay indoors.
Illango - I humbly accept the challenge.
I'll quit trading if I loose. But I can't stay indoors
I have a job to do :)
I have not been in the market as long as you have,
may not have as much experience as you have
Just have a year's worth of experience behind me.
GD - undestood 50-50 chance I win.. but being optimistic
i still have that 50% chance to make it.
How would you like your pudding?
--------
It's going to be nice n slow :)
@Paresh, though we did close at a level similar to Tuesday,
2 things favoring the bulls - we made a new high and we broke out
of the channel.
Good chart San. I know this is not a star but a potential for a evening star like pattern.
to quote Michael Kahn (CTA) "Well, its not a actually a fact since I do not have the numbers to back it up. But isn't it true that the biggest one-day gains are made in bear markets, not bull? "
http://online.wsj.com/mdc/public/page/2_3047-djia_alltime.html
are v reading too much into last night upsurge in US markets????
regards
@gb,
It is easy to make predictions without proofs. My wife who has never traded bought a lot to go long last month. Market fell 200 pts. She kept saying "i know it will go up". And you know what - it did. She made a killing actually. But that is not enough to generate interest for others to buy. Give us something to feel comfortable with what you say.
Else I have no choice but to ignore.
GD - I aint making predictions. I'm forecasting.
I'm not here to comfort people.
I'm not trying to draw ur attention either. Feel free to
ignore.
Enjoy your evening.
Don't really want to drag this on, but, GB, I wish you'd stuck to your decision last month (when you were terribly wrong and led a lot of ppl wrong) not to forecast/predict(same meaning for both, its just semantics:).
Doom-and-gloom folk are as common in the market as in the real world, but its just externalizing anxiety.
However, its surprisingly appealing to young people to be mysterious and cryptic, or set someone else up as the fall-guy for it. Don't draw unnecessary criticism - it isn't healthy - esp not to the predictor.
Just friendly, unasked-for advice.:p
@GG
i too hope to see 5325 tomorrow :)
Ilango Sir, I don't think this is a false UPWARD MOVE - today's UP move in ALL the markets have a strong undercurrent for a BULLISH tone - i do see 5400 very much on card - good monsoon, beginning of results, no negative news from Global front - all this is indicating a move UPWARD only - your thoughts pl.
One request for DOOMSDAY PREDICTORS - we have enough of them all over the net - pl. don't crowd here - objective analysis is one thing but predicting DOOMSDAY PREDICTIONS endlessly just based on fear is another - i remember, moneycontrol.com kept on publishing such predictions from one MR. SHARMA -nothing came true but he did manage to scare away lot of potential investors....
Hi,
Watch Technical Analysis- 3 Months Chart:Overview
http://sharesonlinecharts.blogspot.com/2010/07/watch-technical-analysis-3-months.html
ICICIDIRECT.COM IS DOWN TODAY.
can we complain against this?
how to face this kind of situations
can anybody suggest
@prasaad,
Move to ventura. Really good and cheaper.
Hi golfdude,
How much they are charging for futures.
My current brokerage is 1 point on each side(for Intraday and nextday)
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