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...
24 comments:
Sir,
Thank you very much for the early updation :)
I think it's time to post the "chettah" story once again??
Happy week end to all.
Warm regards
@ Ilango
I wanted to post this vid on the 2nd anniversary of the blog...
http://www.youtube.com/watch?v=GA8z7f7a2Pk
Same way like the guy starts the dance party...You started two years ago all alone and within a span of two years you have a PARTY of ppl..EW converts...A family...and like the song says... its UNSTOPPABLE!!!
God Bless!
Cheers!!!
Ilango Sir, to me - it looks like a HUGE GAP UP on Monday - although Europe market continues its usual pendulam-dance :-) but Asia was in RED since two days, also US market ending in GREEN is the key to Monday's opening....
Nifty again breached the level of 5,400 and closed near to it. This is a positive sign and now it may try to test 5,440 levels and if it can sustain this level then we may see a breakout which can take Nifty further up above 5500 plus levels. If that is the case, then stocks like Axis Bank, LT, TCS, HDFC, which are looking strong, can be the boosters for Nifty.
The markets had opened on a flat to positive note in the morning tracking global peers and moved into green but came down in the later part of the morning session. In the second part of the day we saw buying interest which took the Nifty above 5,400 levels but closed for the day in green near to the high.
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: Best Stocks To Trade On Monday
Suggestion - Buy GITANJALI(Monday) ABOVE 169.90 stop loss 168.35 target 171.75 - 174.35
Nifty For Monday
Nifty WITNESSED THE OVERVALL VOLATILE SESSION AFTER THE FLAT OPENING IN THE MORNING. OVERALL IT IS HOLDING THE HIGHER LEVELS & MAINTAINING THE SHORT TERM SUPPORT OF 5350 TO 5355. CLOSING BELOW THIS SUPPORT ZONE MAY DRAG IT TILL THE LOWER LEVELS OF 5290 TO 5300 IN NEAR TERM. WE STILL RECOMMENDED THAT TRADERS MAY GO FOR LONG IN NIFTY FUTURE WITH THE SL AROUND 5345 FOR THE TARGETS OF 5450, 5500 IN NEAR TERM.
Source - All Stock futures Tips and Options Tips you can get from my blog. You can also check it Stock Futures tips
Ilango,
is it possible to charge these idiots (am very soft spoken person - so, apologies for not using the right word) who keep posting their views/Advt's. If not, pl. charge the viewers but, pl. put us out of this misery wherein we get only views of the sincere & diligent Master & his learned fellows
btw, All the best wishes on the 2nd Anniversary
piyush...will certainly help. plz chk whether your system has that histogram and also read that link which i gave to rg sir.
regards
and importantly take ilango sir's feedback..
has anybody picked up good trades in the last 3 days of whipsaws....
nifty just exactly what ilango sir prescribed in ema system !!!
kept fluctuating b/n hhema & hlema and at times near to dema. simply superb...i just run alongwith it....
and also.....fluctualtions around 200 min ema in 1 min chart gives very good scalp opportunities....
i want to start a blog :-) nothing to do with stocks .. about avian photography ... wishing my aug 5200 puts help me finance my dream lens (nikon 500mm vr) :-) :-)
& here is wishing you all a profitable week ahead ,, i'm off to weeklong meghalaya vacation (in peak monsoon :-)
ka - Thank u for the link. Will learn about it. PS wud have done by now.
The UMich index fell to 66.5 from 76-a drop of 9.5 points
In the 32-year history of this survey, it's fallen by 9.5 points or more on only six other occasions:
*October 2008: The month after Lehman Bros. collapsed;
*October 2005: The month after Hurricane Katrina hit;
*September 2001: The month terrorists attacked America;
*August 1990: The month Kuwait was invaded;
*March 1980: The month the stock market plunged and confirmed that the nation had entered a recession.
*Jul 2010: ???
DOW has already done double century and is running to do triple century.
If DOW has done triple century by closing....then what about markets on Monday??
Wanted to change my avatar :)
Finally.. the wait's over!
*Smile*
hahaha...some1's really happy today including me :)
When this corrective rally started in dow from 9600+ level, the very 1st day it bounced 200 odd points only to give up all the gains by end of the day & somehow managed to gain few odd points & the very next day huge bounce. The same thing happened yesterday, but in the opposite direction. I had the feeling dow will oblige with the same but in the opposite way. And bang....right now trading 220 points down.
I somehow showed some courage to take shorts over the weekend. I just hope it doesn't do something silly in d end :P
Make that 250 dow - I pray for 300 :)
dont miss my post - niftyequity.blogspot.com
With the indian market showing great resilience i dont thing the market to open huge gap down may be we would open around 5350 retrace to 5367 the move down to 5335 levels and bounce from there for 5500++
Predictions by Mr.Sunil Gondhalekar for July 2010
1st week (1 to 9 )
In this month Jupiter will be in Saturn star,Venus sub,whereas Mercury will be
in Rahu star on 1st,then in Jupiter star till 8th and then in Saturn star.Saturn opp.
Uranus throught the month indicates that market will not drift to lower level and market
will be in bullish favour.Market will be highly volatile from 6th onwards.Nifty will gain min.
100 points and Bank shares will be in focus.
2nd week (12 to 16)
In this week,Mercury will be in Saturn star till 15th and then in own star,Market will be
again volatile and will rise by min 80 points.Oil sector will be focus.
3rd week (19 to 23 )
In this week,Mercury will be in own star,so Nifty will be staedy but in bullish phase.
Nifty will rise min.100 points,Communication shares will be in limelight.
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