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:
Sethu ? Very clear views. Pls specify targets also.
r We long yet?
Dear Ilango - at 5944 nifty spot has triggered weekly JNSAR - is it advisable to go short again ? best regards Deepak
Saz, where do we find dollar index updates? Thanks
@ Deepak,
Daily JNSAR is "SELL since 6092NF or 6112NF (5th or 6th Jan)".
Weekly gives a confirmation.
Conservative & JNSAR traders have only "Part booked" and they are in "Short mode only".
Aggressive traders were suggested to go long at 5935-5965(Earlier strong supports) with a strict SL 5920.
I continue to believe in bigger slides...after a pause if any.
Weekly would give a sell today.
TT will continue to guide and confirm our trades.
sir u mentioned bearish engulfin on weekly chart below 6013 plz tell range 6013 to ??
@desikan
http://www.goldseek.com/quotes/charts/usdollar/usdollarindex24hour.php
sir now nifty has broken even 5965 decisively which
was a pivot in this rally. shudnt we now wait for
macd/daily divergence to think countertrend
@Saz, Thanks a lot for the link.
Am I remembering 2008 Jan!!
Situation is getting bad to worse
@ PS,
There were so many critical supports Nifty has broken steadily without much of a pause.
Now the channel support (2539 to 6339) which was broken once briefly when nifty fell to 5690 is now placed at 5880.
For BN it has broken down firmly.
100 dma is 5930
Nifty Futures line chart: CLICK HERE
true sir,
breaking of 5982 was the first place where a hidden bullish
divergence cud be seen for longs with slow hourly macd.
5960 was another area. there is no divergence in hourly macd
neither in daily. after such deep o/s have we ever reversed without
hourly macd divergence or daily divergence?
Feel the power of Friday 2.30 - PS !!!
yes rgsir,
sir i have looked the historical charts and then i
am saying it.wud love to know any example where it
has occured
FNO Turn over Rs.1.25lac CR,NSE cash Rs.11500 CR,BSE Cash Rs.2800 CR
Not much selling evidence in cash yet.We shall have to wait up to 3.30PM for exact figrs.
January Tops
It seems money is being withdrawn fro India to invest in other markets!?
Aggressive long still on hold with 5920 stop loss?
most of midcaps and small caps in F&O are hitting margin calls, large caps yet to see evidence.
midcaps taking toll avg 8-10% down
Sir,
Liquidated 1/3 quantity of 60K PUT around 5935 nifty spot( now only 1/3 qty of 60K is balance) .Bought same 1/3 equivalent qty of 61K call as hedge around nifty spot 5935.Getting confused , should i book 60K Put, although it is cost free now.
Anil,
Can we write calls aggressively here?
@Prachi – why I am long = 6043 weekly short breakout level(some times it may protect) yesterday protected and benefitted. 2nd – JNSAR (previous) 6065- 18(filter) = 6047(coincidence with cam) + 0.625 weekly GANN level from weekly close of 6134. And I closed my “longs” @ 10.20 itself. And reversed . read below – where I replied to Mr. Mynac.
mynac - looks like nifty will touch last week low. mm. dehydrated bulls somebody should give something to eat :P out with cost price. no shorts too
nifty sensex - commodity channel index
January 7, 2011 10:20 AM
Aggressive Long's SL of 5920 protected so far.
Thanks sir.
Someone posted that daily JNSAR gives at least 100 pts.
Can someone tell me how much does Weekly JNSAR give?
Thanks,
Ajay
broken
SIR AGGRESSIVE LONGS EXIT NOW ...5920 HIT
Aggressive Longs stopped out.
@ RG,
I must consider your 2.30 factor henceforth and adjust the direction.
Dear Sujatha,
it looks that panic/patient Bulls,are now squaring off their positions.
wow what a crash all over , waiting for america to join bear party :)
@crorepathi
market sell off, news doesnt know, whether these selling is in midcaps only,expect bounce back, else may be more downside.
Calls already sitting on huge OI piles, i am refraining to write, due to market balance theory in OI, whenever one side we get too much of excesss, other side need to balance, or excess side need to cut.
5900 CALL writers are, too much bearish right now.141% OI UP.
Can we start buying 5500 PE for next week ?
OMG Sir. You will upset PS. If 2.30 is true, then the Pause you consider may confirm on Mon 2.30, which may begin with a OS relief rally.
Just a thought.
"Attempting to put a marker for the market" will drag us all over the place.
Following the direction with your chosen method gives you peace of mind as well as stretches your profits.
Premium wearing out fast.
Thanks Anil,
Got this news from Broker.
Market Clear selling Zone. Huge margin pressure for banks. Asset quality of the banks are doubtful.
why upset me rgsir,
but seriously u shud do a 2-30 writeup here at
2 o clock everyday. it will grow more by sharing
@ RG,
JNSAR scoring near 200 points. Now weekly JNSAR too has triggered.(I have never back tested this one)
5900 done
Very Scary Sir. Could be 500 points even. 5400 starring.
Ilango sir, yr Vix relation also working great.yesterday moved above 18.5 and see wht happened.
prashant, looks like you were right about 100-200 pts down from yesterday.:)
Sethu,
Both NF and BNF calls got stopped out.
@ rg, true sir!
Yes.. Bizagra.
@ RG,
your 5880 almost done..
@ Crorepati,
Perceptive about Jan.2008.
looks like
only 3.30 could stop this carnage
we did not have such a huge single day carnage, in whole 2010, in points terms
adv=dec too bad, let s see, whats there on turnover front, if anybody could thrown light on it
@ Yoda,
It's back to those "Gap downs, intra rallies & falls"...??
You are the expert.
Bye Sir and all
Just kidding PS. I know you are testing it. Remember you have noted it the very first day itself. If the theory is right then with +ve Mon,Tues, with a born again Wed(trend changed-to non-negative),and +ve Thu will lead to a fight for Draw on next Friday. Failue = 5400 Success = 6100. Let us see. Some statements will fly between today and Monday to blunt the claws and sharpen the horns.
Bye Sir. Bye Friends. Have a nice week end.
Turn over
NSE Cash Rs.14298 CR.
FNO Rs.158501 Cr.
Bse Cash Rs.3459 CR.
Not sure if anyone read my post
Just 4 days ago,6000 PE was around 34 and now at 160.wow.what a run!
RP : How are you? Someone was enquiring about your health. Just check today's pre-market/I update posts. Kind human beings still around !!!
rg sir ,
i have noted it but i dont know how
to use it in trading. maybe ur writeups will help.
Bye Everybody and have a Happy Weekend.
Hi Nifty experts,
Can someone please point me to a site which gives intraday VIX figures & any links which explain what it is & how/when to buy options when VIX is at what levels. ...
I have layman knowledge on VIX.
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