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...
59 comments:
Reposting:
Ilango Sir,
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I have long in NF @5377 with SL5360 NS. Can I exit now or wait for 5405 NF?
Thank you Sir
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@ Prabhakar,
Book out.
Lets see Raja sirs 2.30 factor.It sud go down.
Thank you Sir for your analysis. I booked profit.
hello ilango sir!
can i hold into TCS..i bought at 810.
plz reply,
thanks n regards
PS / FIRE Thank u on Axis friends.
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ending diagonal type formation in 'b' wave, a fall may have a target of 5300.
Sir,
Whats your view on MACD Forest indicator ? and when used in hr-5 mt frames on 12-26-9 scale ?
regards
Prabhakar,
It seems it raised to day high to allow you to book out..:)
A Fall below 5385 can make new intra lows.
There is other poor Prabakar who is sitting on lose, went short on 5383.?
PFC 327, TULIP 184, i hope people are enjoying
yesterday belong to vishal retail
today belong to tulip it & pfc
tomorrow definitely will belong to gvk, rel cap & mind tree
@Other prabakar,
Now it has come down to allow you to book at cost or at marginal profit…
It seems NF today allows only prabak(h)ars to trade..lol
Ilango Sir,
Is there any chance today to cover short? Please advice?
@MD,
You had asked about Fortis in the morning in this forum.
As you have bought it for delivery, weekly charts would be good to study. The long term trend from Sep,2008 seems to be holding up yet. You can keep a closing SL below 140-142. It should get momentum above 158-160 band. Here is the study --
http://picasaweb.google.com/112295801969323600289/FIRECharts#5494426693860782626
Yes AssortZ! Sir's levels are great.It touched to 200min MA, and slips.
ilango sir,
looking like a triangle correction.
does it confirm a wave 4 ?
RAJESH EXPORTS, is a strong buy 88-87
SL 83, tgt 93 & 98
Hi,
From July 19th, Nifty futures will be trading on CME:
http://www.myiris.com/newsCentre/storyShow.php?fileR=20100715195423200&dir=2010/07/15&secID=livenews
@Bizagra!
Do you have 1/3 short in NF?
as mentioned on my blog IFCI run for 61-62 starts in half an hour trade.
@Shr,
Thanks for the news. That means we will keep watching E-mini and E-micro S&P CNX Nifty (Nifty 50) futures from now on as it will go on for 23 hours. No more Dow jones or SGX Nifty! :)
Yes prabhakar.
@Thank you Bizagra. Still it is below day high Ema
Yes Fire. I wanted to also add more charting for San :-)
Ilango Sir, can we short NIFTY if it closes below 5400 today? since last 2 days, ASIA is trading in RED - so quite likely that on Monday - it will open HUGE GAP UP and so will India market....in that case....it is also tempting to go long....pl. advise
Education sector is exploding!
In this week maximum volume between 5400 to 5362. Any side breakout may good chance for good gain.
Hi Friends,
HCL Tech (future) is trading at 373. It is above MySAR_A level of 359 Lot size 1000. Fantastic return of 14000 per lot.
-gauresh59
Flat corrections usually retrace less of preceding impulse waves than do zigzags. They participate in periods involving a strong larger trend and thus virtually always precede or follow extensions. The more powerful the underlying trend, the briefer the flat tends to be. Within impulses, fourth waves frequently sport flats, while second waves do so less commonly.
hi friends
dollar index heading toward 82.
hi dear sair ilango,
in excel sheet nifty hour 14-rsi given breakout
so going steel up ?
plz give suggestion
regards,
alpesh
dear sir i have buy bank nifty fut @9925 so book out
wait for more high?
alpesh
Today Nifty range is just 25 points, so far.
if we close with in this range then Monday would be the Brekout day on anyside, and that will be the clear direction to trade.
see the post here:
http://tradingontechnicals.blogspot.com/
Thanks
looking at the way people are buying NF - my gut-feeling of MONDAY-HUGE GAP UP OPENING seems to be the gf of many :-)
Sir,
Whats your view on MACD Forest indicator ? and when used in hr-5 mt frames on 12-26-9 scale ?
regards
Today's values :
VAH : 5391
POC : 5384
VAL : 5377
Sir,
“C” wave possibility still exists..i mean the 75% retracement or it is done with sideways movement?
--Test--
@ Ka,
I follow mostly the classic, original oscillators. I am hearing about this from you.
Let me check it out.
I have been quite busy & hence not able to participate.
@ assortz,
Euro strngth & $ weakness and price near upper band are for bullishness.
EW possibility, negative div, poor breadth are for bearishness.
Best course is to stay with the current trend till price hits us.
H & S on hourly chart, tgt 5270.
@all
singing with dow...
@Bizagra!
Your are closing or carrying NF short?
@Rochak,
Thanks. I have been following IFCI for last 1-2 months. But I would miss the breakout today if you had not give the call which alerted me. Now I have taken my full position @ a reasonable price. Thank you.
@Prabhakar
I exited.Closing seems above day high ema.
@all
europ market is green near 0.5%
dow future is recover
np sir, thank you.
Actaully, i found it quite useful if we are looking for 8-15 point scalp trading on lower time frames rather than MACD itself !!
regards
@Thank you Bizagra. I have no positions
RG sir would definitely benefit from MACD forest !!
HDFC Bank cud have lured SHORTS by going down today? Sword will be out on Monday?
Bye Sir.Bye Friends. Have a great week end.
@Amit,
Nice observation!
wow, what a way to end the week. Now those long will hang on, the shorts will multiply.:)
ka - thanks - how to go to this Forest?
hahahah....RG sir, almost all service provides do have this one as MACD Forest right next to MACD ! Chk that...let me know once you find that, will take you thru that...
regards
sorry....they call it as MACD Histogram too.
chk this reading...
http://www.investopedia.com/articles/technical/091001.asp
ka
me too very interested in learning it
and i need it .
rajgopal sir can manage without it too
Back to very tricky trading zone again. Will give both bullish
and bearish setups which should fizzle out.
Trade light.
Probable scenarios:
With each passing day the upsides seem to be capped. Some assumption is
upside is complete.
From 4965 to 5368 - 403 points
From 5210 to 5453 - 243 points = .618 times 403.
From 5368 to 5210 - 158 points
From 5453 to 5295/5200 is a possible target (158 or 1.618 of 158).
This target of 5295 to 5200 over next 8 days.
Nifty trend For Next Trading Week(19-24th, July'10)
Nifty would have a support at 5,327 and resistance at 5,398 and BSE Sensex has support at 17,765 and resistance at 17,982.
Ref: Stock Market Tomorrow
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