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 ...
67 comments:
rg sir,
was just looking at gold/silver charts this weekend
they have broken supports 1st time since the breakout last
aug/sep/ san pointed out h&s in silver. maybe this whole upmove
is getting corrected.
thank you sir - lead indicators are flying high like a "kite" will subbaro come and "bite" means we may see some "nailbite" :)
@ piyush - u will faint if you know why i select that that no. that's a yearly fibo no. + as per my calculations (regarding breakout levels) that area is the good breakout level + 5 sma for 3 months coming around there. but as of 'NOW" 5763 is the good volume area, so if it breakes only the downside :P with crossed fingers.
musti - advance sugar ghee 2 u , push the gold from upside.. waiting for a buy not n commodity physical gold :)
January 25, 2011 10:20 AM
Possible PS. Next upward target is around 55k for silver. Nothing escapes SAN's eyes !!!
@Kumar,
Sorry,my mistake.
Big Event: RBI Meet will be held today at 11.30 so kindly trade with strict sl.
FM to address press conference on BLACK MONEY related issues at 12.30 today.
RBI time correct??? anyone please.
suj,
earlier i used to faint. now i have become
used to it :-)
@ RG - check on net .. http://www.ndtv.com/video/live/channel/ndtvprofit. i am a small player. hence out from the market and watching.
Piyush - wat u had breakfast in the morning?? lolz :) :) see it's turning exactly at 5764
frnds...just a word of caution...it might prove otherwise also...that,
option data suggesting a fall during the day !
take care
@ Raja sir,
Gold Down side target 1322$
Silver 25$ ounce.
Below 1322 Gold can fall 1301,1288.a strong suport Zone.
If it breaks we may witness Gold near to 1150$.
Silver Target of 55K intact,I also recieve same from my sources.
@ Sujatha,
I recomend to buy physical Silver in bar & adding it after
every 5% corection.
Many of my family friends are doing the same.
Thanks Suja.
ka : creepy..BN Vs N at opp direction !!!
RG sir,
can we buy gold or silver now ?
@ka, It is very interesting that you made this suggestion. I am seeing a lot of put addition happening. do you see it in the buy side.. on the otherhand calls are shedding OI.
Thanks Musti. But bullion normally do not move in opp direction? Must check Gold : Silver ratio.
Saravanan - for positional clarity is yet to emerge. Must wait this week out for things to crystalise. Intra is different. Some known biggies are accumulating gold at falls.
if bank nifty sustains below 11,100 soon a fast fall set up may emerge...
34ema may go below 55ema in 5 min intraday charts
13ema is already below 34 and 55ema
Yes raja sir ur right.
I f silver break 39000 MCX,than it will be in bearish zone.
Uptill that all corections are normal.
55K is long term target 2-3 years.
Copper 550 MCx target in 2-3 years.
musti - so gold & silver both r n opposite direction??? thanks for ur suggestion. i will try to do. becoz i am not familier with 'silver" will do some paperworkand take your suggestion.
@ ka - tks. but this 5772 is the direct upside breakout in hourly? is it a false breakout? already 2 gaps pending downside yesterday and today.
Priya Mitro!
Jaisi ki kal mujhe asha thi ki Nifty morng me 1 hr tak Bulls ko faayda pahuncha sakti hai waisa kaafi kuch ho gaya aur kaafi aur ho sakta hai policy ke baad. Par maine 5770 par apni 25% position aur kam kar di hai baaki bachi huyi mai 5820-25 ke aas paas sell karunga ya 5730 hourly close ke neeche.
"Dear Mishra ji!
5730 ke upar ki closing kal subah ek ghante tak Bulls ko hi faayda pahunchayegi aur 5825-30 Rbi policy se pahle hi Nifty ja sakti hai.
Manoj,January 24, 2011 3:22 PM "
Manoj
rg sir & sujatha....have'nt seen anything beyond the option data...it suggested caution...just passed on the same....it might prove wrong also after the news is out...
Manoj: I have closed 25% long @5770, balance qty I will close @ 5825-30 or bellow 5730, if comes. This is as per previous day plan.
hi swami...its suggesting naked longs in 5600-700 puts..lets c
Good morning Ilango sir and all,
Sujatha - one more homework!!
Rajagopal sir, "Neengs nethu sonnathu romba correct!!!:D
@RG,
In a normal cycle, Bonds make the top first. Then stocks and then Commodities. There is a time lag of a few days or 1-3 months. So the million dollar question is, has Nifty topped out? Even if it has, where's the lag? What do you think?
@ka. Ok. I am also observing the option data's only. want to learn about it and that is the reason why i requested your opinion.
i am involved in gold retail business and i do gold analysis for my business perpose.
here is my analsis
i hope sir dont mine.
http://picasaweb.google.com/106991291027188471532/NARENDRAMODI?authkey=Gv1sRgCNyE4vrInr2h_AE&feat=directlink
strong addition of O.I in 5700pe and 5800pe,is it indicating to be cautious with short positions???
A good samaritan would like to keep in touch with "Rochak Parekh". I have given his email id.
I require Rochak's mobile no. If any one has it, please do not post it here but send to my mail id
vanilango@gmail.com
ilango sir..is the daily jnsar level in the pre market view (5697)
with the filter? bcz in the tech table,the same is shown as 5720
gold broken trendline coming from 2nd august 2010 and currently at bottom of b.b.
cci20 gave sell signal on 4th jan and both red lines are target as per chart.
@ STOCK43SURE, R option data & U Indicating rally from
current level???( May be Short covering)
@ ka - thanks.
satheesh - :) siruga katti peruga vazhanum :)
so saving little, little for my little one.
jigs - ur name is modi or u r modi's fan?? i am a big fa of modiji.
What should be the strategy once news is out?
@ka,
Is it possible for you to share how you read the options data? Will be helpful for us to understand. I am asking this as I am very interested in options OI analysis. Thanks.
Tigarji,
options data indicating of an upmove for 5800-5820 near levels and moreover ns is making higher high,higher low patterns,weakness only if sustains below 5760..
but be4 event like rbi monetary police...be cautious with positions as it can be very fast and swift either side
REPO - 25BPS REV REPO - 25BPS CRR - UNCH
@suja
he is our CM.
and we proud of him.
i am very big fan of him too.
@ nevermind,
I combined the filter with yesterday's low for more objective oriented.
rbi credit policy may turn out to be a non event now as came same as was expected...
breadth is very good for 40 points upmove in nifty 50 stocks
seems some buying is coming in nifty 50 stocks
Hi.. Kumar,
I have received the mobile number and forwarded the same.
Thank you.
Aggressively sell for intraday.
aha sir.. done already at 11.09 am.. where 2 cover?? don't mind.. ofcourse i am with home work just want to know from u
@ Ilango Sir Can we go long on dips? Whats d support level
@ilango sir
credit policy out and is as per market expectation please throw some words for bank nifty.
Sujatha Madem
Why you are disclosing the details of your trade to learn ??
Dear Ilango sir, As per my little knowledge I feel
eventhough the REPO & RRP increased to 25 BPS as per market
expectation, RBI increased the inflation projection which
can dampen the growth. Will market will accept it?
from 5625 to 5800...nifty rised 175 points amidst confusion among traders...those were brave enough to long aggressively, reaped good profits..i think here we should be little cautious, moving below 5750 can place nifty in 5650 region on expiry or moving above 5805 can place nifty in 5875 to 5905 region on expiry..let's see.
@ Sujatha,
5765-5770 & below 5755 are supports.
below 5755, 5745-yesterdays high. Below , bad.
Priya Mitro!
Maine sari Nifty 5780-5785 par sell kar di hai aur mai 5750-60 spot ke beech kuch buy karunga.
Manoj
@sujatha madam,
as always..u rocked..keep guiding us in your own style..
bala - i should not disclose?? that's good for me?? becoz my personal well wishers too advising me not to disclose my trading i put becoz there nifty is at 5793 30 week sma level + 3months 13 sma level is 5797 hence shorted..this is for other's trading purpose how to trade fast @ time i know where to cover my level ofcourse "my trading strategy" is depends upon my financial position, i never like to compare with other's. thanks for your suggestion. hereafter i will not disclose.
bala - correction - 2 months 13 sma level is 5797
sir - thanks breaking of 5763 is difficult it's high volume bar i think since morning it's holding coincidentally it's weekly cam (both indices) breakout level took appropriate action
Dear Manoj bhaiya,
Q:Maine sari Nifty 5780-5785 par sell kar di hai aur mai 5750-60 spot ke beech kuch buy karunga.
:UQ
Do you see a bounce once we touch 5750 again?
Regards
@ Jigs,
BN resisted at our 11260 resistance mentioned in stock wealth.
Always sell on news if the index has run up significantly ahead of the news event. BN moved up from 10388 to 11260 and a correction or a fall is on.
@Sujatha madam,
may be you are right..but keep updating the levels...
@Sreyo-da,
Are you initiating any positions now?
@ sujatha, Broke the NS 5763 level.. Ur comment Plz
@buzz
closed my position..i bought at 5640 NF..closed today at 5790 NF..now waiting for nifty to cross 5750 on downside...
IS BN below JNSAR? Can anyone help with BNSAR level pls... I am unable to download the file (my problem only).
@buzz,
although intra-day position could be taken..but between 5805 and 5750..i wont trade..
@RG,
BN JNSAR is @ 10724.
current level of bn(~11066) still above jnsar(10724)
Thanks Sreyoda. I've gone short on Feb NF @5800 a few minutes back... want to add more shorts at higher levels. I'm new to this board but been reading the comments for more than a week's time... nice family you all have got... can I join?
Regards.
NEW POST DONE.
"5755" has held so far...good for intraday.
Thanks Fire + read Sir's view now only. Thanks.
Looks like the whole move was in "expectation". As sir mentions above will this result in correction in lead counters - the Banks?
Ilango Sir/s critic view getting established.
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