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 ... -
If the steady FIIs inflow reflects in the prices, 5405 should be protected going ahead and market may encounter minor corrections and keep m...
73 comments:
thank u fire...
what is DHEMa level... shall i wait for tomorw..
else must close today ah?
Please
@Manu,
As you are studying the equity market in conjunction with the currency market, you may want to check the CNX Defty index. It has broke out of the channel today, which Nifty is yet break above 5920. So, Defty is leading and now Nifty may do the same.
@Sgx,
You may keep a SL above 5920-25 spot for your shorts.
DHEMA@5830.
Dear Bulls, enough killing for now, itching to change my coat :D
fire..hi
nifty in $ term is defty..fii watch this..
i m not fii:)
Seems like oil @118 is a forgotten story....
Last time in 2008, Nynex went to $150 odd, but the Indian basket
was at a discount of 20$ odd...
Dont know the exact peak, but maybe near $130.
We are now near that peak give or take 10%, and seems like its all ok:)
RG Sir 2:30 Affect plz :D
OIL STORY IS A TRAP, the day you think its ok to have 140-150 dollar oil,they remove the floor below and tell u its all because of oil. then you become a bear and watch 200 dollar oil with equities at all time highs.
its all mind games. Inflation helps companies , there topline increases multiply that with pe od 15-20, u get 10(inflation) * 18( avg PE) = 180 % increase in stock prices.
Overbought on weekly , daily and hourly ...:)
@Manu,
You are nothing less to me :D
Jokes apart, sometimes I have seen Defty leading Nifty. Thats all. May or may not indicate anything.
@fire....
Does the bat pattern that was put up by sir, some days ago, still hold good?
I think, it was made by you... sorry if I am mistaken :)
Dear Bhavesh!
Last week's movement definately surprised all of us but i believe, If any bull run is on cards even then Nifty will come down to make higher bottom. This market has a very bad habit of surprising Bulls, Bears, FIIs, DIIs...and all the analysts so no complaint to market.
Rgrds,
Kumar
nifty wont come down ah?
will it be everyday up?
i thinked 5900 the top level...
Good afternoon sir and friends.
@sir
Is there bearish flag developing on hourly chart?
Kumar Sir,
Alternate count
can surprise by doing all time high without correction
any chance? :D
DR(original) - Happy to be Long 2.30.(pls don't spoil it Mr 2.30).(Monday,Tuesday,Thursday)
lazydude..hi
oil at 200 fine if $inr at 35:)
then only nifty all time high..
we suffer from inflation west from deflation(excl commodity prices)
Dear DR!
I m mentally prepared for that so hedged properly since 5500. Above 6150-6200 i will be compelled to change my coat...till then its a wonderful opportunity to increase shorts at every rise for big packets.
Kumar
@ mishraji - noooo don't try to change your coat now :D
DR - sorry for "interference" yesssssss possible to straight 6181 line :) if at all ......... holds well :D
Manoj-ji - wow,,,, nifty celebrated the level of 5894 now 5920???? if it closes here tomorow??????? kya bath hai :)
fire shall i cover...?
spot now 5912
huge loss :(
Thanks Sis :D
@ Ilango Sir,
Forwarded a excel file for your perusal & suggestions.
Thanks & regards,
Chandra
nifty is celebrating India's win. i think its the final burst today we may see some correction from tomorrow ....
@Sandy,
That pattern was in a small TF, but its failure showed the power of the bulls (as pattern failures reinforces the strength in the opposite direction).
But the higher TF pattern worked well and achieved all targets. Here is the original chart posted ---
https://picasaweb.google.com/yinyangfire/FibonacciPatterns#5583706744960163058
Thanks Dear Sujatha! Wow!!
5970 nifty spot to watch
Thanks Fire...
But I was taking of the bearish bat, that sir had posted on March 28,
in pre Market View
DR : +70 to +70 Mr 2.30 has done statutory 20 points for the day.
Hi Suja.
+70 to +90 DR
@Sandy,
That was in the smaller TF which failed.
NS high@5919 so far.
@ Fire ...
Failed?
The targets seem to be achieving itself...
Channel top almost reached..@ 5918.70.
@DRSIR
Silver on its way. Gold may join silver today or late to late tomorrow.
Kitna leke rakha he sirji?
Dine sir - No lolz na?? :D mm.. sure a spurt if 5920 holds
Doji inside bar closing on friday?? i think.
mishraji - i am the "one" always short in advance or long in advance now changed my attitude :)
RG - hi sir give me 6181 :) :D
@Ilango sir
For my knowledge chances for bear flag on hourly chart?
Possible?
jigs I see some correction in Yellow Metal
todays closing may change charts
let see
@ Jigs,
"Bear flag" is possible only in downtrends. Hourly prices have been uptrending.
If 5920 is not breached and if Nifty falls & consolidates later, that would qualify as "Bear Flag".
Sujatha said...
Dine sir - No lolz na??
By God no Lolz
Sis thers only one Sir here
Im Sirfira :D
Hi Kumar Sir,
Should we move to 6000 call or wait for tomorrow?
sir ..
few days back i gv u a fancy chart..
is this still qualifies as "B"..sucker 'B"
0r 3.3
@DRSIR
Thanks for answer sir.
Wk-R1 5918 resisting NS
Chandra
@Ilango sir
Thank you sir for your quick answer.
Will keep in mind now.
Its a result season coming on, so its expected to be maintain it UP for few days, to take advantage of exit at higher prices 5900-6000 levels, rest market will give direction.
But dont try to accumulate shares here, at this level.Its a solid game of distribution going on in midcaps and small caps, just they r catching, or rather moving for final leg up, before a correction or consolidation.
Sir,
Next Post.
LV
Dear Debdeep!
Temptation is on to convert 5900 calls in 6000 near 5920 spot but Camarilla operator is holding 10K nifty and greedy for 6181:) so i m worried, Important thing is she is completely right since 5600 so i will sit with patience since 6100. Big hats off to her...
Rgrds,
Kumar
sir..by nirav..n jan he posted..
http://passionatetrader.blogspot.com/2011/01/same-cycle-same-pattern.html
@Sandy,
My apologies. I was thinking about my last study, which failed. But the beautiful study by Harpreet is really going on well. According to his exhaustive study,5966 is the PRZ. So, we must keep a sharp watch at that level.
Camarilla operator Lolzzzzzzzzzzzzzz
Cinderella operator
illango sir / fire
shall i hold short or cover...
@ Fire...
:)
Thanks...
What do you think are the chances of an even bigger fall.. after the pattern gets complete?
My Apologies too since I thought that your a study done by you:)
BN could not break 31 Mar 2011's high
not a good closing
As far as I can see, there is some serious capitulation by the bears
Today will be the 10th consecutive day of NF closing in the green. Does anyone knows whatz the record ??
@Sandy,
Now I am taking one day at a time... :)
@Nifty
I think it closed in red on 1st
DR,,ssa..bn looks r deceptive..dont take panga..
warna :)
sir/ps..
nirav w
av expecting a motive wave after 3.3 trgtng 5900
done 2dy..he reads high with 5 waves ..crrctn n 3 waves abc done..
@manu....
there is some difference in the pattern..
In the first chart, we made a double bottom, compared to the current phase
where we were 10% lower...
Comparable?
@ DR - yeah.. right. But pity see sometimes people are madam-ning me too for me it’s unavoidable :P
nifty's weekly health is very good, daily health is only slight -ve each and every mild pause and correction is adjusting/adjusted by our dear FIIs, DIIs. Still bear possibility is open technically but bulls not giving way. If bear comes I can expect upto 5778??? Too greedy early!! But always “home work is good” Need some strong external –ve news???
@ Dr. Kumar – Lolzzzzzzzzzzzzzzzzzz :D anyway 100% believing me is like “suicide” :P another clue – unless I turn “bear” nifty will not come down??? Hehe
@nifty – can u give me another 3 days upside please???
Anyway I hv to thank my “D” today as she allowed me comment
Ya it closed red on 1st
100% increase in the volume & 124% increase in the OI of 5900 put
manu said...
DR,,ssa..bn looks r deceptive..dont take panga..
warna :)
this time BN is lagging
Bye Sir and Friends.
@ Ilango Sir,
File re-send
Chandra
Good Afternoon LORD & Family,
@Sandy, Fire.
Was not around so could not reply, will try to update the chart in the evening and mail it to lord, if he finds it of any use he will upload it.
Regards
Harpreet
@DR
NF closed 5858.70 on 31/3. The next day's close was 5861.35. The Nifty Spot did close in the negative, but the Nifty Futures didn't.
http://www.nseindia.com/marketinfo/sym_map/symbolMapping.jsp?instrumentType=FUTIDX&symbol=NIFTY&expiryDate=28-04-2011&optionType=select&strikePrice=&dateRange=15days&fromDate=&toDate=&segmentLink=9&symbolCount=2
Nifty closed above 55 day high 5871-5874 today.
@Nifty
Yes ur right I just saw candle was red
candle was red due to it closed below its open price
Cheers its making new record :D
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