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 ...
60 comments:
CAN I POSITIONAL SHORT NIFTY.....
Reposting:
Just a guesswork..
Is this sell off is done to allow big players to enter at the lower levels which they have missed due to Christmas holidays??
5935 is the key level to watch for.
Already 75 points intraday movement in NF.Whether or how much still today Nifty wants to go further down yet to decide but most discussed 6010 would be important in any case.Let us see.
Was short @6067NF..... covered @6002.
Will wait for further position.
@mynac. where i can see the high volume bars?plz give link.Thanks
It looks some buying or one can say short covering is visible in NF but only the latter trading half may decide the fate for Nifty.
Dear Anuj,
This only link I use.
http://www.nseindia.com/ChartApp/install/charts/mainpageall1.jsp?Segment=OI&CDSymbol=S%26P%20CNX%20NIFTY
Where you can see big volume candles at 6024 & 6008
Dear Mynac thanks. In this chart highest bar is at 6044 NS and market is going down, so can we assume people shorted? and going above it means nifty going up??Plz explain.
@mynac,
Good morning. Are you looking for more upsides?
Dear Anuj,
for day trading purpose my assumption is also like you.
nifty dancing to your tunes again :)
banks moving aswel :D
@Mynac , but i can see 6024 and 6008 high volume bars??Is it of NF?
@mynac,
read cant see. typo..
sir..nifty made lower high...can we go long now for intraday?
Yes.I also used to see both charts.The funny thing about this link is that though it is reliable .... it is not reliable or you may say not useful always.Because many times it does not work or used to update late i.e. some times even after 15 minutes.So it's just lottery.If it sink then you may say it was a frog and if it will fly then you may understand it was a bird.Just like this.
@mynac,
Good example
Dear Anuj,
it works better through Internet Browser,the related softwares,which are freely available on net must be there for better results.( but I don't have much idea about the same )
Bank nifty broken out of hrly falling channel
thanks. mynac..
Dear satheesh,
At least bounce back,6010 is important for Bulls N Bears,& when Nifty is trading near 6000,Nifty O.I.around 2 Cr.is just like a knife.It can be used for bread-butter or for stabbing too.
In other words for today,above 6010... bread-butter...below for stabbing
@ mynac....check this link
http://www.volumedigger.com/Charts/Volume_Profile_Charts.aspx
Dear NIFTY SENSEX,its very nice and useful.Book marked it immediately.Thanks.
@ mynac,
That was a nice expression!! bread-butter or stabbing!! :)
Dear satheesh,
No one like to get stabbed but who knows what's in criminal's mind?i.e.Bears
But one feeling is there that Bulls are likely to fight very hard here because most of the roll over for NF this series was bet.6020 & 6100.so at this moment let us see the battle from the bank.
OI showing..good build up in CALLs side..
a concern for longs.
2mn added in 6100 and 6200 CALLS
1mn added in 6000 CALLS
building resistances for upside.
not significant build up for bulls on put side,may be later half of the day, will show some clear way.
More pain.. 6000CE writing's effect.
Ilango sir, conservative sl now 6025??
Sir - WW tgt met - reversal from 6180 now headed to 5850
And still no sign of significant short covering in 6000 PE.It may show in the bhavcopy but at present Looks very interesting.
Updated Chart
http://img842.imageshack.us/img842/783/nifty.jpg
Now nifty will move around S2
@ns the link which u gave for VP, in symbol box wht sud we enter ? aI m not able to get data it is giving error of no data available for the .NSEI
Buy here with a SL of 5950 for dead cat bounce for target of 6070 and then short covering may take NF to 6310
By Anirudh Sethi
@Prachi,
nifty
Dear Nimesh,
6003 is now hurdle between the low & 6010.So would buy it slightly later.But the idea definitely can not be ignored.Let us see.
PT violent call like chambal 110 Call?
bot @5990NF......SL @5977 target 6020
Prince, 6000CA 6100CA and 6200CA addition are huge but over sold and europe all in green......... some jump is expected.
reading closer to weekly JNSAR...
typo..
trading not reading
Huge call writing today
6000 Dec CE - 2.08M written
6100 Dec CE - 2.43M written
6000 Dec CE - 2.36M written
This is a huge no for a single day.
PT sorry I just saw Anirudh Sethi
WolfeWave
You have very nicely identified the Wolfwave Structure.
One needs very keen observation to get that kind of setups.
RainMaker
@sandy
this is given by anirudh sethi
@Sandy
Also watch IFCI thers some news to released or bellarys steel take over or merger
Nifty Biggest candle at 6000
If able to close above it we may see 6050,6100 by monday
Conservative traders/ JNSAR traders would have part booked closer to 5975NS.
JNSAR would reverse as per JNSAR number.
Conservative will reverse only above 6051.
Aggressive traders may go long in 5935-5965 zone(The earlier huge support.) with a Strict SL 5925.
NIFTY SENSEX,
in your link how to get
symbol details(correct).
pl suggest.
thanks
thnx Prabhakar
@Suresh,
Enter nifty
Prabhakar ji,
for stocks,
i got nifty/sbin/reliance,
but need details for other
stocks symbol/s
@suresh,
Sorry..I don't know. I am doing nifty future only. Some times RG's and PT's stock calls.
Power Trade - Not sure how Anirudh Sethi planing to take
nifty to 6300+. There is no WW setup.
Max 6110-6100
Thank you Rainmaker
Prabhakar ji,
Thanks
@illango sir,
dollar at 81.30, as off now there is no respite for equity, am i right sir?
Thank you Sir for your analysis.
I closed my balance short @5960 and went Long.
NEW POST DONE.
Yes...SAZ.
May be JNU has acheived its purpose. In the august company of Sir and Friends yours truly is Maturing as a Trader. First time since my first trading day, sitting on cash not willing to take position !!! Clear sign of getting "half baked with knowledge" or "once smitten twice shy" syndrome !!! Atleast Sir has given a Long call.
-ve 2.30 Friday - great villian or anti hero? Capable of 5870 or 5990.
Wish pre-budget Fridays are back to take market UP.
Saz, where do we find dollar index updates? Thanks
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