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 ...
94 comments:
@sri
not really...if you go by the total OI on 5500CE...highest ever on any option. So far i've never seen any expiry above/below the strike price whose OI was more than 1cr.
About offloading positions...even i'm not sure...just my view.
For those who still hold shorts, hopefully in the next contract, there's a rising wedge in NF which is quite bearish and signalling reversal.
@Neha,
Thanks a lot. Will try that definitely.
Regarding poetry-- I am suffering from this for the last ten years or more. Sometimes it goes to such extent, that all medicines fail. Then, I can only control it by trying to divert my mind off it and a continuous auto-suggestion of "I dont have it" or by laughing it off. Right now, one of those moments.
So, watching the market now far away from my terminal.
@Kumar,
Must do that. Thanks again.
Read this somewhere --
"Trading online is just great.I find it really speeds things up.
I now get my margin calls 5 times faster than before."
trailed SL in 5500 puts to 71
Good one, FIRE.:)
trailed sl in nifty short taken @ 5448 to 5452
exited nifty puts @74.50. NF @ 5449
Yoda said...
For those who still hold shorts...
As Manu Says Thankooooooo Yoda.
Here comes the 2:30 shortcovering.
lol, welcomooooo, RG.:)
SELL SELL SELL Everything.
(Just want to see some down side)
i am standing behind Rajagopal, as you see in Neta giving a TV interview. whispering f a l l ..
Rg
hiiiiiiiiiiiiiii
Fire,
I cn imagine wot u go thru coz I hv seen others suffer
Hope this helps :)
sir..
whch s ur fav. dish made by urself
(butter chicken)?????
gud one Manuuuuuuu
(hope this doesn't become the language)
@ yoda & all who are in shorts.
Rsi for 1 month raises to 85 this morning when Ns near 5465
It start to fall after that & stii in the uper zone.
One can hold shorts till it reaches 40-35 & at that time
cover shorts.
I short at that time & cover it near low.
still holding previous shorts.
oops Manu - U just gave hint for the week end story picture.
@ yoda & all who are in shorts. :D :D :D
Musti,
Thanks for the comment..
I believe out of 10 .. I know atleast 4 have already quit shorts.. can’t stay away from master..we are with master now :)
Right, yoda?
Dinesh ji
:)
i am expecting a last half an hour market crash melodrama, let us see
GRAB CENTRAL BANK OF INDIA NOWWWWWWWWWWWWWWWWWWWWWWWWW
SL 156
Rg
u expecting a "butter chicken" this weekend..
me toooo far to join:(
whch s ur fav. dish made by urself
Served under "Nifty Intraday Update-III" - is Langar mae kaun pysa dhetah hai?
manu - cross belted veggie..Ok deal is - butter for me and chicken for you.
hello musti,
from whr can you check the RSi value. please let me know
rgds
rahul
i hope central bank of india remains insulated from the last half an hour market crash
@ rahul
check this
http://www.google.com/finance?
seems rochak is anticipating romanchak crash :-)
"ril-Papa"
dragging
Dear seniors any views on HCLTECH it looks positive or ?????
Plz guide me
Regards
its been a while , market gave a last minute crash, so betting on the same. let us see.
market has always a tendency to surprise the majority
Akki : HCL huge volumes - but cud not cross the Open price after the burst. Looks like volume addition is selling from Lower level buys. If Wipro results are good can see some upside. I will but if it crosses the Opening price (375) EOD with today's low as SL.
@ Langoo Sir,
y,day one post by your goodself that post by TOTA suggest that it might go up and if it crosses 5402 then we will sell@ 5480.
It was for long position held or for going short.
@all,
due Euro zone event(at this moment guesses are being made, actual result will be published later tonight) any long or short position should be hedged by buying 5400PE or 5500CE as their is possibility that we might not get opportunity to trigger our stoploss.
sir
what shld v catch
"butter" r d "chicken"
I will but - I will buY (famous PS typo)
HELLO ILLANGO SIR, UR CALLS R NOT GOOD, BUT UR BLOG LISTED TOP IN GOOGLE. HOW? PLS TELL ME THE TRICKS.
kumar_chheda said...
@ Langoo
(for shorts D missing).
@Akki,
HCLtech is moving between 349 and 400-410 for a long time. As of now, it is in the middle. You should wait for breakout or trade the range whenever it gets closer to one of the boundaries.
aaah........again came some monkey to spoil the environment........
European markets have come down quite a bit - so writing is on the wall....Yoda, listening? :-)
Hi Everybody!
Reduce long position & be light bcoz Advance/Decline ratio is in favour of seller today & If Nifty Closes near 5440 then it will be a Doji. A doji on top is always risky so better to remain light as a precaution measure.
Rgrds,
KUMAR
@CABLE,
HAH HAH HAH.... ROTFL...YOU POOR CHAP... HEH HEH...THATS A GOOD ONE...JUST WHAT I NEEDED...
Neha, better than your mudra.
Kumar, better than your medicines.
I AM CURED.
Agree FIRE :))))
If the correction need to go on for 9+ hours, "a" completed at 12.35AM (3 1/2 hours) and the complex "b" wave is on since then. So the "c" down towards 5420 on Monday..?
Sir, which position to carry positionally, long or short?? I am confused!!!
@ Auto Sankar,
"This is not call Centre".
hi dear sir
what should be planning carry nifty and bank nifty long
buz europe bank stress result today
plz some sugesstion
regards,
alpesh
"Long Positions remain as long as 5408 is held.
Yoda - looks like the Lioness club is expanding.
===
Chennai remembers "Auto Sankar","Naai Sekar"...now "C.."
Hi Guruji - You do remember-Auto Sankar?
Thank you RG sir and Fire Sir.
Regards
Ilangoji,
12.35 AM ? A finished in our sleep then? :D
Sir,
You are finishing the week with great fun..lol
Thanks to sankar..
neither market crash, nor central bank of india ran. markets are in for a frustation for all the traders it seem. but i dont suggest a long at this point of time in the indices at least.
If market moves past 5460, bears will have some relief on Monday as the "b" wave up should end soon and the next correction lasting 2+ hours will unfold on Monday.
Then, I would wait for monday to take longs near 5420. No position today.
Today's open/high: 5477, close: 5451, low: 5435
This is a HANGING MAN candle. ( gap up also ).
BEARISH pattern. Someone wants to short based on this, here is a chance.
Experts correct.
Dear satheesh!
why u want to carry tension with u on weekend? Even then if u r interested then Buy 5500 Calls & 5400 Puts of next month only.
Dear @Cable Sankar!
Dont try to spoil our party & without invitation u should not peep in other's home.
Rgrds,
KUMAR
Maram kedaikkalaina choriyerathuku, panni namma bloggukku varuthu.
Dear Ilango sir:
on the other hand today if NS goes below 5439 should we hold on to our LONGS?
Pls suggest
SIL
Satheesh..
It is really simple:
If you are already holding longs below 5400, keep it.
If taken above 5420, close it.
Hold on Longs till 5408 is held??
SIL
@ SIL,
Do Part booking.
And if you don't have any positions, an aggressive sell.
www.cablesankar.blogspot.com
sir, vara panni per kooda kadan vaangitu varuthu..i know this person and he do not spam like this..
Sir
Then butter Panni for the week end?
Ilangoji,
Could it be a triangle in the making?
Thanks Ilango sir
SIL
okay sir. My doubt is except that nifty is likely to close above DHema, all other charts day and hourly show negative divergence. Also week,Day and Hour Stoch are in oversold area above 80. In such a case how much more upside is possible?
Ilango,
Isn't loss of profit also a loss?
@ Fire,
It does not look so.
@ Rajagopal,
:)
@ assortz,
He may not understand my language I speak here. Chumma kaasai tholachhittu, aadath theriyada........... therukkonalnu chonna kadhai.
@ manojag,
Yes.
One round BP done at the open.
Two succeesful intraday trades are more than the positional.
@RG,
U R on the flow today. Great dish for the week end :DD)
I think we have made a doji today... not a hanging man,..
but a Doji on top is bearish
sir
"butter chicken":(
I take back my HANGING MAN comment. Because close looks more like a normal candle. If this had goen to 5460 or above then it will appear like a HANGING MAN.
A doji is when open and close are near each other. Open was 5477 and close was 5444. 33 pts. Not close enough to look like a doji. My 2 cents. More importantly open and high are the same. So it is more of a hammer types, which at the top of a run is called a Hanging man. ALso the gap up today.
Ok sir & friends...happy weekend !!
==================================
One last msg in d end
WHO SAYS ENGLISH IS AN EASY LANGUAGE ?
FILL IN THE BLANKS WITH YES/NO
1) _________ I DON'T HAVE SENSE.
2) _________ I AM STUPID.
3) _________ I DONT HAVE BRAIN.
Took some aggressive shorts at the closing. Now I joined Yoda and gang.Lets see...:)
Thiru Ilango,
As already told,am ekalavya to you,
The Drona.
It is a true Herculean task you undertake
to putup with our enquiries ranging from
"so so intelligent to the ordinary".There
may be a few spammers who spoil the scene,
but PLEASE dont demean yourself by
replying to the ungrateful.
(especially in tamil, that too from you,
it sounded so so out of place; i felt,
Thiruvalluvar is singing rap)
Btw am hoping to be a regular contributor
to our family,working on data collection.
@ Golfdude..,
If u see the open on yahoo...it was 5441.9... n close
is at 5449.10... so u have a doji with a small body...
day high was at 5477.5 n low at 5435.15
Sir it is again barking dogs. Anyways I have also heard that one must not bite but should not forget the bark
So please be veryyyyyyyyyyyyyyyy strong in your words in warding off these detterents as they really are miscreants and obstacles for people who are sincerely learning.Off late that anybody and everybody who wants to establish their blogs are coming in and advertising just like what Sujatha pointed out some time back
It feels like a temple place where beggars come to beg.
@ Rammyril,
Ulladai chholvaen...Nalladai Cheyven verondrum theriyadu.
These things don't bother me but amuses me to no end.
Nalla Pozhudai yellaam thoongi keduthu vittu, naattai keduthu vittu thaanum kettaan..
Silar allum pagalum theruk kallai irunduvittu adirshtam illai yenru allatti kondar...
Vizhithukkondoor yellaam pizhaithukkondaar.
Vaathiyaar kitta valai aatinaal narukkunu kut panniduvaar.
Don't pay attention to my such words...they are meant for tharuthaigal..
Maidaanathil irangitta appuram aalae vera maadiru...
Gandhi piragu..Karuppasamy aayiduvaaru.
Kashtappattavan naan thaniya. Anda "Elango adigal" madiri yellaathaiyum koduthavan naan.
Oor yenna sollum..yenakku yennaikkume kavalai irundadillai..Yenakku yen manasu mattum thaan..
It is my temple where only the pure hearts should reside...pure in their purpose..all the rest will be mericilessly thrown away.
I am not showing bioscope but showing "the way" that is known to me....Known to everyone..I am simply unwrapping the outer cover for them to read their own book.
Hi Ilango,
Looks like we still have a minor 5 of '3' of the "5th".
Followed by '4' and then a '5'. So 2 new highs possible even now.
A possible top in place on Tuesday-Wednesday.
The parallel channel of the channel from 5285 to 5,353.65 should cap all tops.
sorry channel is from 5235.80 to 5353.65
The first wave top being 5408.30(in this recent upmove from 21.07.10), the 4th wave should not breach it. Accordingly, it looks to have done the 3rd and the 4th is on. One high a high possibility once the 4th dn is over. Other high could be as per your view or in the ensuing correction, the "b" could do an irregular high.
Hence, the confident addition in 5400PE, I guess.
Dear Ilango,
Again Trespasser’s nuisance, now nothing new for us because we know that, Never a Rose without Thorns.
"Took some aggressive shorts at the closing. Now I joined Yoda and gang.Lets see...:)"
fire, welcome to the gang :-) btw, pl. tell me what is an "aggressive" short - i'm l'il slow in following the master's vocab.
Must read...
There are 9,20,000 households invested in equities. Assuming 5% of them invest in FnO, that is 50,000 households. THAT IS RETAIL involvement in FnO. So the next time we see a move in FnO, we know retail could not have done it :)
http://business.rediff.com/report/2010/jul/23/mfs-where-are-the-investors.htm
Dear Ilango Sir,
As your nifty charts suggest that no weakness is shown yet time, and market is expected to trade positive, but I just wanted to know that could stress test of European bank make any impact on it which is going to announce tonight?
Market Views Vs European Bank
hi, elango.. the comment which has been posted in your blog is not mine.. you can see that in my profile. some cruced silly minded fellow who dosent have guts to share his name has done this..
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