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 ...
64 comments:
Sir,
Your message to @Rajvada means, we can do part book again @5420 level?
@ all
NF in a premium 5/6
@ Babu,
As the market goes past 5400, we will further study the "internals" at that time & decide. However, presently we have calculated "5424" as a first likely target.
Let me add that markets are not perfect that it could overshoot that target. Should observe FII buy/ sell daily.
Hai everyone
Nifty futures chart updated
http://niftychartsandpatterns.blogspot.com/2010/07/nifty-futures-chart-with-support-and_13.html
Thank you
Ilango Master great call
Ilangoji,
Entered RIL. What should be the SL?
@Ilango sir,
shall i consider Fii buy/sell figure
cash or f&o?
sir can wave c end equal to wave a point ?
@ Fire,
Keep today's low as SL and revise it upwards everyday.
Ilango, that fast rise at 5365 - was so true!!! thnx man
The dollar index has completed a zig-zag in wave 2 wave 3 up will break beyond the longer term H&S neckline at 88.6
and after that wave 3 should target as far as 100
By: Rohit Srivastava.
@ A.M,
"Cash" is more reliable.
@ Jazz,
In zig zag corrections, they are generally equals.
Hai everyone
Nifty spot hour chart trading near yesterday's high.
http://niftychartsandpatterns.blogspot.com/2010/07/nifty-spot-hour-chart-analysis.html
Thank you
@ Manu paaji,
Unitech hits 82 mark.
cheers!
tota
i hv taken shrts now..
@manu and ToTAmit
Unitech at 82 must have hit the weekly channel top.
@manu,
ok,
I hope it is positional for atleast 10 days.
Thanks
illango can i book reliance at 1077
@Ilangiji,
Thank you for your clear direction. My take from your explantion " Wait for the target,and progressively build shorts on confirmation down the hill."
@Ilangoji,
.
Thanks.
@SAN,
I think Unitech hit the channel top just now @83.50
@ Soha,
RIL has just broken out. It is your wish to book profits. As per the TA, it should move higher towards 1090 and much higher.
Only you know your risk profile & trading time frame.
tota
sl hit. ws intra..
nvr thought of such high volumes..i cvrd all longs yesterdy
Hai everyone
Here is the weekly channel of unitech. I have not updated the chart with this weeks action.
http://niftychartsandpatterns.blogspot.com/2010/07/unitech-technical-analysis.html
Thank you
@ soha
for safe Buy call of RIL 1140@4.50
i bought
kk
what a fabulous rise ... didn't expect it.:)
Manu - u r Alibaba. I have joined.
PS : Tuesday 2.30 worked today !!!
San,
A beautiful chart. The same drawn by myself gives me the weekly channel top as 83.40.
Rg
i may take at the end or tommrow
as RBI july policy will eat real estate
Thanks FIRE
@Janak,
som we have finally reached our half destination
Manu : RBI announcement will confuse market.
+ Banking Licence to NBFC
- 50(?) bps raise.
If Announced at the same time How will the market react?
Sir
What an amazing timing of fast rise setup.
But one question...if you expect top of nifty around 5424, why do you expect much higher targets of RIL. Don't you think its risky to go long in RIL if nifty falls after placing a top?
Manu,
Heard yesterday that FDI Rules for real estate to be relaxed.Probably todays price action due to that anticipation.
rg sir,
worked beautifully
thnx manoj
ws not aware
RG throw light on this.urgent
Tata Steel on radar anyone ?
Hai everyone
Nifty is finding resistance at yesterday's high. Nifty spot hour chart updated
http://niftychartsandpatterns.blogspot.com/2010/07/nifty-spot-hour-chart-analysis.html
Thank you
manoj
cn u gv me the site for fdi news
hi dear sir ilango,
bank nifty is near resis. 9920-9930,
so at this level i can carry bank nifty sell for
positional trade with 9950 sl?
plz give me suggestion
regards,
alpesh
Manni,
RIL has the highest weight in the indices but sectorwise Banks are heavier. So, a puse of the banknifty may counter the upmove of RIL. This is my understanding. I would exit all my NF longs @ 5425 spot levels and shift all my money to RIL above 1090 ( I took 50% already).
If Tatasteel can sustain above 510, it may start a good upmove. But the volume is lacking so far.
Manoj - The main question of lock in period of FDI not resolved ?
Manu - Interest hike will be disliked. But NBFC will be allowed to do Banking (Relcap,IFCI..)
Hence confusion?
Thanks Fire for your views on Tata Steel.
cnbc
@ Manni,
One can trail the longs with 5380.
5424 is a probable target. As the 3rd wave is already bigger than the 1st wave, 5th wave can equal or even exceed the 3rd resulting in higher targets too.
I have cautioned too regarding "Buying by FIIs".
Best course of action would be to wait for a close below "Day High ema". Whatever else would be aggressive positions with high risk & TSL..
Also heard that LIC Housing/GIC Housing may get banking license
dear sir ilango,
bank nifty is near resis. 9920-9930,
so at this level i can carry bank nifty sell for
positional trade with 9950 sl?
plz give me suggestion
regards,
alpesh
@ alpesh,
BN at new highs. Why not wait to see some weakness. It could continue higher.
Please do not take 5424 as the ultimate top. It could change. If 5380 is breached, first weakness.
Thanks sir & fire for clarification.
I would still prefer to stay away in RIL since didn't entered at lower levels...booked 50% NF longs today at 5418...will trail rest with stop of 5380 :)
thx sir
Tisco breaks out. It should target 200 DMA @ 560 levels now.
BABA Ilango ji,
i have a question for you...do not oversee it plz !
what was your trade today ? where did you enter and exit ?
Am curious to know...
regards
@ sir
Thanks for your educative information. I think, i have learned so much from your blog, not only it's educative, but it also motivates a reader to study and applies skills effectively in this market , rather than wandering blindly in the market.
Bye Sir. Bye Friends.
Never believe the Firangi.
Turnover for today 98000 Cr.
@ Ka,
"No Trades Today".
@ ilangosir
i am confused abt fast rise and fall in NF.
is it the crossing the 10 EMA?
pls guide us
www.myniftycalls.com
Hi "my nifty calls"
Why are you posting url to your blog again and again ?
This looks like some free advertisement for your
paid services.
Dear Ilangoji,
Do you see any possibility of C of C getting extended upto 5900-6000 Nifty by Sept-10. We had "a" extended in A.Then the nifty reach to apoint from where it could comedown in final C MAJOR.
Thanks Sir,
Regards,
Free Nifty Tips
thank you sir....
sorry...had logged off and so could not acknowledge your response...
hmm...that ratifies my strong hunch !!!
That Report of Nifty is good for the stock investors.
Come here to get Commodity Tips , free MCX tips,
Nifty Futures Trend
The Nifty closed at 5383. Nifty future (July) closed at 5381.20 i.e. at a premium of 1.80 points vs. 1.60 points and
added 603300 shares in open interest.
The Nifty future (Aug.) closed at 5382.65 i.e. at a discount of 0.35 points vs. premium of 3.80 points and added
121050 shares in open interest.
The cost of carry is at +0.71% vs. +0.54%.
Interpretation: The Nifty future prices ended in positive terrain along with overall addition of open interest and
increase in the cost of carry in comparison to the previous day, this is an indication of some longs being built at
lower levels.
All Stock futures Tips and Options Tipsyou can get from my blog. You can also check it Stock Futures tips
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