The above view gets negated on a move past 5685.
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 ...
38 comments:
Priya Mitro!
Maina aap sab ko subah bhi yaad dilaya tha ki VIX apne bahut strong resistance area me pahunch gayi hai. VIX me 25-26 ka level 15 June se pahle tha so agar VIX yahan par resist karegi ya down hogi to Equity market ko upar jana thoda aasaan ho jaayega. Neeche 5605 200DSMA bahut majboot support hai so 100-150 points ya is se jyada ki rally ban sakti hai. Ab Wolfe wave bhai bhi teji kah rahe hain to teji ki possibility jyada ban jayegi. Maine to 5700 ki call 65-70 me buy ki hain baaki dekhte hain bhaiyo...
Manoj
HI GUYS,
PANIC BOTTOM NOT YET FORMED
AS THE SECOND LEG OF DN FALL HAS
JUST STARTED AFTER BRAKING 5690
Ilango,
Just looking at the shallowness of each of these rallies, wouldn't the bulls already be shattered ? When will they start to throwing in the towel. I have never seen so much negativity in Nifty since Mar 2009.
Is an H&S pattern developing with neckline at 5640?
@ Nifty,
That is a "Pure price observation".
Till price do not sustain higher levels, we don't know the depth of the >>
Umm...akash vijan has probably answered my query. The bulls might throw in the towel during a panic bottom.
sir,
5640 emsaaa thangaallllllllaaa. both indices trading below impt. YEARLY CAM LEVEL, then also not breaking means still the 200 sma protecting?? possibility to protect whole month??
DEAR NIFTY,
+VE DIVERGENCE SEEN ON MACD AND OTHER
OSCILLATORS,
BUT WE NEED THE MKT TO SHOW US PANIC BOTTOM
IN THE FORM OF A LONG SHADOW HAMMER/ BELT HOLD
/OR ANY OTHER TREND REVERSAL CANDLESTICK TO
ENTER THE LONGS
Essar oil Q3 PAT at 273cr vs loss of 226cr yoy.
Will Reliance show similar results? If so it will help Nifty
to bounce back.
sir - today's trading range is as per TT - HLMA to HHEMA set up
@ Sujatha,
Higher levels not sustaining. At the same time, the HLEma @ 5645 has been getting supports today. That is a small step. If this high is cleared & closed above, some short term hopes to bulls. It is a long grind which could get abruptly terminated.
OOps.. sir - absolutely crossed at same time :) that's the itching for me since morning now sensex showing green as per yearly cam level + cam too both are hovering from morning at yearly cam
Yes..Sujatha,
In a sideways short term T/F, HLEma & HHEma gives good trading points. It has depth now to traders' delight.
Looks like bearish momentum will come only below 5600. Here is a chart ---
http://picasaweb.google.com/yinyangfire/FIRECharts#5563085194271631778
Or with a new low below 5630.
With the addition of almost 15 lac O.I. in NF,5635-5660 is proving a fighting zone for Bulls & Bears when Chinese market has closed 3% down.
sir - yes, several times minted :) trading TT in a different/angle manner. another clue - both the indices are "silent killers" as of now. both are not breaking friday's LOW still, if that is protecting + TT Low ema protected is a +ve sign. i traded this pattern few times in volatile time. different, different method working in different type of markets. it's better trader should be like a "chemealeon" :P
mynac - the whole week this 5640 is main part in NIFTY FUTURE according to me. so it has to break with full force
It we break today's low we will get 72 points on the lower side of nifty
@Sujatha,In a day or two from very short term trading angle it should get resolve,the addition is suggesting the same as per limited observation.
The turn over today is also on lower side i.e. 1.30 CR.Rs.up to 3.15PM
Advance/decline ka ratio 1/3 bears ke favour me hone ke baad bhi Tisco day high bana raha hai, bhaiyo signal ko catch karo. Nifty future ka undercurrent strong hai aur 5673 ke upar aur bullish ho jayega.
Manoj
Please read 1 lac.30 K CR.Rs.
mynac - that's two days coincidentally meeting the FIBO no. of 11/13??? the no. of days v r falling if so, then surely v will get 'temporary up" or "bottoming temporary"
A close below 5645 may not favor "bottoming temporary".Close above 5660 may keep Bulls hope slightly alive.But still no sign of any short covering because it is not yet need of the hour for Bears.Let us see.
NSE ABOUT TO MAKE A DOJI AT CLOSING,
SO TOMORROW MKT UP OR DN?
MANOJ BHAIYA?
Market kitne pe bandh hoga?
CLOSING ALMOST SAME AS OPENING,
THAT MEANS INDECISION BETWEEN BULLS N BEARS
Akash bhaiya!
Mkt up ya down 2moro par Teesra option ye bhi hai ki kal ek aur doji bhi ban sakti hai.
Manoj
Thank you Sir for your Analysis.
I closed my remaining shorts @ 5660NF.
SAHI BAAT HAI 2 BAAR MANOJ BHAIYA, HA HA HA HA
FYI
US markets will be closed today for Martin Luther King holiday
5654
Bye Sir and all
Today touch 200 EMA,tomorrow may test 200SMA level also.
@ Tiger,
In few days u become Tech Analyst, Gr888
Thanks Dineshji.I have very limited knowledge right now.
Need lots of experience & great expertise like sir & Mynac
to become tech analyst.... Thanks once again for your compliments
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