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...
74 comments:
Dear Prabakar
Any clue from current month open interest ?? There is no major change in open interest compare to last week. Same PE 5700 has 70Lac and CE 6000 has 75 Lac , (May be +- 5 Lac) Now Only 8 trading days remain in current series ( 13 calendar days) and we don’t have OI more than 100,00,000 in any NIFTY option.
FIIs Open interest increase by 5000 Crore on last Wednesday but they have net sale in Nifty future , any clue what they are doing ??
@ Engineer,
A simple rule to follow:
Prices above High ema is for upward momentum.
Prices below Low ema is for downward Momentum.
Prices below/ above Close ema is for dn.trend/ uptrend.
Aggressive traders start selling below High ema itself.
Most part of the day has been trading below DEma-5861(Trend indicating one).
For downward momentum, it needs to trade & close below Low ema.
Until then, we'll call this correction.
It could turn into dn trend...which depends on how the prices act around 5794.
Dear SreyO!
Bhalo wasi..Misthi dohi khawo...aur 50 Points girawo. Happy New year SreyO to u & family too....
Kumar Sir,
6100 put is for May Series.
CALL OI +5.61%
PUT OI -3.49%
call
SR.. BOD OI. Cur oi. Diff... Percent
5600 1004750 958100 -46650 -5.09
5700 2363650 2381800 18150 -0.76
5800 3929250 4612050 682800 19.32
5900 5349700 5719600 369900 15.46
6000 7553300 7676700 123400 1.46
put
SR.. BOD OI. Cur oi. .Diff... Percent
5600 5482150 5534350 52200 1.52
5700 7443650 6983650 -460000 -8.96
5800 6773050 6099550 -673500 -8.83
5900 5021300 3708550 -1312750 -32.14
6000 2600150 2205800 -394350 -20.61
Dear Prabhakar!
Thanx for my correction, i was thinking April...thanx again.
RG Sir 2:30 factor Plz?
Next Month May Series
now
6100 put +69.55%
6000 call +61.66%
Appeared something fishy and cooking. Just thought of sharing.
@IT
yes i'm your bengali friend
@Kumar sir,
maine nifty ko girne ke liye kaha hai...
Sis suj
Shall we mark as absent or proxy?
DR..r u seeing vol n infy..
someone s selling like he will not buy this ever n cash..
Manu eagles eyes are on BN :D
wht can we make out from May option data can you through some light
DR..thats d best..
i expect a short recovery in infy
@itsmebuddy,
It is only for Intraday, this may change EOD & EOW.
As of now, my interpretation of May Call & Put, Chances for nifty to move up.
Ilango sir,
I'm new to your blog. Could please share tech.table
excel sheet & guidance to interpret tech.table?
Thanks in Advance,
Jana
thks Prabakar
sreyO...
thanks for the bearish wish....
Sorry, Forgot to give my mail id. jmoorthy@gmail.com
@DR,
In 5 min. chart, is BN making a triangle implying another leg of downmove left?
san..ur view also at 3000 support
@itsmebuddy,
But the current month call & Put suggest, downside left for intraday.
Reaching 2:30 sentiments.... ?
@ jmoorthy,
You can download the excel file from the link given as "JustNifty TA(15)" under "EW/TECHNICAL ANALYSIS" in the sidebar of this blog.
How to read..?
Check the labels section.
"5835" should be TSL for intraday shorts.
Dear SreyO!
I ordered loaded truck of Bangla sweets from Bengali sweet House to ur home.
http://www.bengalisweet.com/getitems.asp?cat_id=1&cat_name=Sweets&subcat_id=1&subcat_name=Bengali%20Sweets
Ilango sir, conservatives long or short??
@ Kumar sir...
I think they r costlier....
specially ordered for SreyO!?
Dear IT!
Cost doesnt matter, feel the spirit. After all SreyO giving me cut of 50 points:)
NF premium back...
CALL OI +6.23%
PUT OI -3.17%
call
SR.. BOD OI. Cur oi. Diff... Percent
5600 1004750 956150 -48600 -5.28
5700 2363650 2387400 23750 -0.52
5800 3929250 4646600 717350 20.21
5900 5349700 5847450 497750 18.04
6000 7553300 7729750 176450 2.16
put
SR.. BOD OI. Cur oi. .Diff... Percent
5600 5482150 5545650 63500 1.73
5700 7443650 7072000 -371650 -7.81
5800 6773050 6109550 -663500 -8.68
5900 5021300 3666850 -1354450 -32.9
6000 2600150 2206150 -394000 -20.6
10 Day highest volume node 5830 is the bone of contention now for a long time.
Sustainence below 11745 BN fut will sink the boat of Nifty too.
sir and seniors..can we carry JNSAR short home? i am only worried abt whipsaw.. hope it is not a repeat of what we saw when nifty was in range of 5500 to 5400.
can someone pls advise?
Dear Prabakar,
From O.I. Data,Will Bulls go for final attempt to cross 5840,if they can save 5818? 5800 CE data is last hope for them for today..your thoughts please.
@Mynac,
What's the significance of 5818?
Strong hammer in hands of Bears, lets see...what happens in last 30 minutes.
@Manu
Infosys has violated 3000. Weekly closing below major support levels is not good for any stock. Next support is between 2940 - 2960 it seems this will also be tested next week. So this may not be the right time for a long trade in INFOSYS.
Dear Fire,
If you will connect latest top 5948 & bottom 5177 with ^ then symmetrical triangle you will get 5818.
Dear Mynac,
Usually after 3.00pm, OI may not be reliable and today close of the week, it may turn anyway.
As of now, the trendline drawn from 5944.45 gave the support at 5810.00
Intraday Fib.Retr. from 5845 to 5815.25,
NS retraced 50% to 5831 and turning down.
If NS manages to cross 5834, then the possibility of 5840.
Kumar...i remember a key quote of Charlie Munger that is valid even in trading business...."To a man with hammer, everything appears to be Nail"
How many are carrying shorts home today...?
san..lets c if 3000 comes eod..
Thanks Dear Praba...
@ Fire,
Predicting the price is foolishness,but trying to understand the same is not crime.:))But the reality is that Market has always an ability to surprise everyone at any time.Am I correct?
@ Ramcharan,
Nifty is in a range of 5735 to 5945 in the short term.And the same is the range of this series.
Within this range, market has swung three times.. Trade.
As long as it keeps above "Low ema", upside surprises remain.
A close below 5826 is the min. required for bears, though closing below DHEma is weak in the short term.
Dear Immortal!
With this nice quote, shud i carry short home today or not sir?
midcaps and small caps save the day for "Bulls"...
Closing above 5833 - hawala positive for bulls,
Disclaimer: no positions
yesterday Nifty
http://www.shahidriaz.com/image.axd?picture=2008%2F12%2Fdonkey-pulling-cart.jpg
Tomorrow may be
http://farm2.static.flickr.com/1130/529742829_6529e8f29f.jpg
@Mynac,
your opinion is very valuable to me...
@kumar sir
:D
Dear Kumar,why you should not carry it at home? Now you have got another lower target 5794 DLema:))
Thanks Sir...keeping my fingers crossed
Thanx Mynac & Jigs for boosting my moral:)
Last week dragonfly doji on weekly & this week another long leg doji...game shifted for next week.
Dear Fire,
are you pulling my legs? because you know that I am not systematic technically sound player.Just trade for few points here and there.So be careful it was just a coincidence nothing else.Every dog has it's day:)) nothing more than it.
@all...to carry position overnight you have to determine how many lots u have and how much risk tolerance can you sustain in case the position swings...I will never ever carry shorts/longs without knowing my risk tolerance...we all can read the market has shown weakness today and wat the result has been of a key player...But when market doesnt want to open their cards altogether why should i drop my pants ahead of it by risking my money...Take Calculated risk!
nifty's low was 5806 and it coincides with golden ratio which come to 5803.
@Kumar Sir,
Game has already started ... Watch the money flow index at icharts.in :) smart money is already moving out
@ALL @Prabakar @Sanjay bhai
Watch OI Data fresh buying in 5100 5200 puts visible
Dear Kumar,
By way of short covering Intra data for 58 & 5900 PE are suggesting more down side,& off course JNSR has given us the required confidence to follow you.
Plz maintain the decorum
Will close below WHEma.(Sell on rises in week TA)
Good bye friends...Happy Trading!
Bye Friendz
Long weekend
tom MCX also closed :(
Thanx Powertrade for valuable information & a nice weekend to all of u...Bye
Surprised
Market closed near day low but 58 & 5900 PE are well away from it's day high.Why? Any body pl.?
Thanks and Bye everybody.
You are correct Nimesh Bhai.
5100 & 5200 PUT
Increase in Price and Increase in Open Interest of put confirms downtrend.
@Mynac,
Not sure, but may be due to the NF premium.
Bye Sir and Friends.
@ POWERTRADE
waiting for 200-300 points from high no need to worry....
just 80 points done 120 remains....
and 100 may be as bonus for our bears....
regards
IT
@ Kumar Sir
master told
Will close below WHEma.(Sell on rises in week TA)
Immortal will Take Calculated risk!
KST support is from my side...am with POWERTRADE
Prabakar confirms downtrend.
please unload all sweets on JN if Cost doesn't matter...
bears need weekend party!!!....
Don't forget the two consecutive weekly dojis from Kumar Sir :)
@Indian Trader,
Don't get carried away. At the EOD/W, the raise in 5100 & 5200 Put is negligible and may change on Monday.
Currently holding no positions. Will start fresh from Monday.
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