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...
75 comments:
So NS bounced back from the current 5 DEMA.
NF 30m just dipped below day 5ema and pulled back towards hour 5ema
But the whole moves still in range for past few days.
and the volume ... came somewhat only for the fall
as long as there is OI addition in puts, I don't think we will fall and today it is almost 4:1 for Put call.
NF hourly chart movements in a perfect channel, which would get broken below 5378.
it cant be better than this :)..
real "puli varuthu" feeling for every 5 points jerk..
Its barely moved 10 points for the last 4 hours. *yawn*
-Test-
Turned into a chainsmoker today out of sheer boredom. Now a glass of Absolut!
I think a break of 5380 bring 5366 dayLEMA
Ril seems not n a good mood
THE BROKEN CHANNEL
http://niftychartsandpatterns.blogspot.com/2010/07/nifty-spot-30-minutes-chart-in-channel.html
Thank you
Fire Now we ahave to keep premium scoth with the terminal so that if the market dosnt move we can have the pelasure of scotch
"Puli" determined not to allow index to close above 5400 on daily basis.
Yoda, RG, have u observed in YES BANK FUTURE - betn. 298.75 to 302.20 - total transaction qty. is close to 25 lacs!!! tomorrow is the result - maybe that's why?
Thanks PS (noted your last comment).Very simple xls helps.
Now a. DLF - >100% of y'days volume (ready for short?)
b. Sterlite - huge volumes.
Thanks for BPCL. Yes Bank results 2moro - 305 to 307 possible? 1 lot 1000 shares.
BN , if closes below 10030(Spot), it would be below "day High ema".
One interesting observation.up to 2.55 PM 18% intraday huge addition in 5400 PE but still it has not yet crossed yesterday's close,which is 69.85
Finally the "PreMarket Plan is unfolding after testing our patience to the maximum.
NF 5367 has offered many a times support. This time..may not.
NF close to the H&S neckline @5370.
@Powertrade,
:))
Sir,
Carry the shorts as conservative or is part booking advised if not closing below day Lema?
It won't happen easily. Now the struggle to stay above "5380" 5-day ema.
BN future rising channel support @9960 levels now.
@ Satheesh,
Part booking is alright. But a close below 5380 would warranr a second round of 1/3rd sell.
Great Fire Atlast patience paid
Axis - high volume profit booking 2 to 3 pm.!!!
Unitec Regains volume - 125% of y'day with + price.
Hero Honda - high volume profit booking?
@fire Today i just left nifty aside BN gave good Returns on the short side
Ilangoji,
In the NF 5 min. charts, from 12.35 high the downmove looks like a zigzag. In that case, if A=C, then C targets 5365 now. Is it right?
Hai everyone
Nifty futures chart with negative divergence and trading near an important trend line.
http://niftychartsandpatterns.blogspot.com/2010/07/nifty-futures-with-negative-divergence.html
Thank you
A most likely close below "5380".
Aha..BN may close below both High ema & close ema in one day.
Then the Nifty may close below Close & Low ema..!
Sir,
What is the DLEMA for bank nifty?
fire your 5365 almost bang on target
BNF dlema 9858
dcema 9939
satheesh
Sir, ithu Pulia illai Poonaiya? (Tiger or Cat - what is coming)?
or
Is it the Bell going before the Elephant?
Bear,Bull,Tiger,Cat,Elephant - it is a jungle out there.
"9906" day Low ema for BN today so far.
@ Rajagopal,
First we see a cat out. We'll know soon whether it is a domestic one or a wild one.
Chances of wild increases.
Sir, todays DLEMA is 5360. So should we part book now?
@raja sir
This is not puli or poonai this is Karadi the bear.
The effect of a broken channel
http://niftychartsandpatterns.blogspot.com/2010/07/nifty-spot-30-minutes-chart-in-channel.html
Thank you
sir,
can shorts in BN be carry forward overnight...?
-arpitg345
I guess PuLI is out for now...till put back again!!!
http://tryin2trade.blogspot.com/2010/07/nifty-futures-update.html
Can we shout puli puli or does it have a name like..shera...sheru..
Cheers!!!!
Ilangoji,
Took full postion as NS below day low ema and NF showed 5358. Is it all right or should I decrease some?
@all
daily reversal too on charts,
first...kudos to your heart sir ! first time even i overlooked it !!
and, a close below dlema for the first time since June 8.
regards
sir
"puli" came but i m still with jay mam..
yet to take positions..do tell when 2 go
for conservatives..
Ilango Sir,
===
Can I hold NF short initiated @5398 for tomorrow?
===
As we see a major reversal after a 5-waves, let us hold the Shorts atleast for the min. target of 5317.(a = c)
What is the releasing point of height of frunstration?
Sir saying "Aha..BN may ..."
Yes. Prabhakar.
Ok..verdict is out..”Hold shorts” :)
Thank you Ilango Sir
@ Rajagopal,
I had too much dilemma in my premarket post. I changed it twice only to come and put out a sell around 9.20Am.
It was quite challenging. It is not right. It should be effortless. "Straining" is bad.
Ilangoji,
Thanks a lot.
RIL @1050. Close to good support@1045.
Ilango sir....what made you think SELL so confidently ? Request your specfic points.
regards
At last puli came :D
@ Ka,
After a sharp fall in nearly a single day from 5453 to 5361, Nifty made an elaborate sideways action for 3 & 1/2 days....that is bearish.
Such bearish flag formation happened in yesterday's 3.00PM sharp fall. Similar thing(fractal) was expected to repeat in the Hour time frame. I mentioned it to MOK in his post.
BN was showing -ve div and the open rate is quite high & fell within minutes - happening after a sustained rally from 9300.
And our TT supports rising fast and making it easier for bears to nudge it a bit to trigger the sell.
Today, I really couldn't make head or tail of Nifty in the market. So, I went for total faith today, On Ilangoji. When he told to short, I did that. Everybody talked about upmove, making me nervous. But I kept my SL and went on to add my positions as Nifty went on to break the levels mentioned in the premarket view. My faith won.
Actually, I trust most in Ilangoji's EOD analysis, then Pre-market and then intraday comments. Hope you will not mind Sirji!
Seeing sir's 3.25 took the shorts home.
Bye sir, bye friends.
Same withme fire i shorted BN today on a sell call by sir but panicked at 9988 and covered there
Turnover 90,000 Cr.
hmmm...thank you sir.
am trying to learn something from you here...
hows that sideways action bearish ?...is it b/c it failed to clear hhema and showing inclination to reach dema ?
@Power,
I also covered my BN shorts@88 when 9980 was holding. :(
But at least my NF are showing good profits already as my average is now 5378. :)
fire...you are spot on in doing that ! nothing else is required !!
@fire...i mean, your following of Ilango sir !
Ilango Sir,
=====
As per Technical Table, 5day High Ema is 5402 and 5day Low Ema is 5357. Am I correct Sir? I am confusing.
======
rg sir,
sterlite is in a traingle in daily and breaks out at
170. no great volume in daily chart. unitech is in a strong uptrend
but o/b divergence and channel resistance an warrant a
short
axis upmove lower and fall has been on higher volumes.
divergences in hourly, o/b daily can make it a safer short than what
it was few days ago
Hi Friends,
Bhel today hit below MySAR_A level of 2419.66, reached at 2400 and closed at 2411.
HeroHonda also hit below MySAR_A level 1964, and closed at 1935.
Infosys hit below MySAR_A of 2763, and closed at 2751.
-gauresh59
SORRY FRIENDS
I was playing foul & spamming around, but i felt that was due to a bit of over excitement. This wont carry like this, i promise.but thanks to well wishers like anonymous, who brought the fact into my attention.
Thanks a lot, really to all of my JN friends & other blog authors, who bear with me. That was really a gesture.
Thanks a lot.
I hope the co operation from all of u keep carrying like this.
regards
Bye Sir.Bye Friends.
(hope it posts this time).
What a fall!:)
In the morning the market just didn't move right, so I closed my longs. Then I went long on BN just before Ilango said short it. Held that until it fell and switched to short and managed to balance out the error. phew!
No more longs for me unless Nifty spot breaks 5430. lol
THANX BUDDY, Pivots table provided by you are really useful for us.
Click here to get Commodity Trends , MCX tips ,
Stock Charts and reports suggest that nifty may continue its downside rally.
Market views and Prediction For Tomorrow:
The Nifty is likely to trade in the range of 5,350-5,420. The trading strategy would be to create short positions if the Nifty resists around 5,415 levels for targets of 5,390 and 5,365. On the other hand, one can also create long positions if the Nifty takes support at around 5,360 levels.
Tracking global downbeat cues, the Nifty opened negative but buying soon emerged. This took the Nifty to the resistance area of 5,410-5,420.
Ref: Stock Market Tomorrow
Thanks Illango,
Regards,
Free Nifty Tips
hello friends,
i have been reported, accused & alleged of spamming other blogs. & issue has been brought into my attention by anonymous. I am really thankful anonymous for the same. He proved to be a true well wisher.
Friends, my views. I think, there is a very thin line between promoting & spamming. & in my over excitement of being a new blogger ( naya naya mullah ajaan jara jor se hi maarta hai ), i may have crossed my that thin line. But, trust me, i wont want a blog traffic on the cost of inconvenience or anger of my fellow JN mate.
I take this opportunity to express my concern for the above & promise u all as a gentleman, that whatever happened, happened due to a bit over excitement & nothing intentional.
I express my regressal, if i would have hurt anybody.
thanks
regards
P.S. - But, i would really more than welcome, feedbacks like this b coz, i am always open for true criticism.
We recommend that until it close below 5300 one may go for buy on dips in it for the upside targets of 5450, 5500 in near term.
All Stock future Tips and Nifty future Tips you can get from my blog. You can also check it Stock Options tips
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