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...
95 comments:
Kumar Sir,
May be MaCam at work. :(
Sir, Stop loss for conservative longs now?
dear FIRE
plz explain-
"NS took support at Daily Cam R3 from upside. In my experience, whenever Daily R4 & R3 gets broken from UPside, it gives a good intra-fall. Vice-versa for S4 & S3."
PT sir, are you holding shorts/puts?
@ San,
Gap filled totally..Yesterday's high is 5763NS.
While holding his ECG chart, the stock trader ask the doctor: "Doc is there any 'support' and 'resistant' in my chart?"
The doctor that knew a bit about trading is answering: "Yes, but the breakout is still far from you."
CALL OI +1.05%
PUT OI +4.88%
call
5600 983250 875850 -107400 -8.6
5700 4135100 3957750 -177350 -1.82
5800 7402000 7313900 -88100 1.72
5900 7355700 7335700 -20000 0.46
6000 9522550 9274600 -247950 -0.14
put
5600 6155950 6699550 543600 10.06
5700 8023450 8558850 535400 10.25
5800 5131350 6002250 870900 22.05
5900 2603100 2943400 340300 13.42
6000 934950 894750 -40200 -2.51
Thanks Ilango Sir, Another Lesson Learnt.
Till now i was also on the view that the GAP is yet to be filled.
JNSAR buy triggered
DINESH :))
@ Ilango Sir
Thank You Sir. I missed yesterday's high.
sir,
San was using 5-minute chart (2nd-last candle), the gap reamains there.
@ Cooldent,
Now keep 5795NS(this hour low).
@ Bhageerathi,
Manojag alerted with a one liner - "Gap filled".
I suggest you to read the tech table for strength and weaknesses and you can become self-sufficient.
BIAS +ve above 5730.
there is no gap in the daily chart now.
Thanks sir
if this is an abc-x-abc corrective bounce, it will definitely surpass, 5944 (high of previous abc correction)
thanks illango sir. Wish someone had pointed it out
to me ? :(
day high = jnsar 5832
@deemis,
When price moves above Cam R3 & R4, it becomes a breakout. If price moves below Cam S3 & then S4, then its a breakdown. Now take today's price action. Today Cam R3 & R4 are 5760 & 5780. Nifty opened above both these two. As per my observations, I waited first for 5780 to break. It broke and took NS quickly to 5760 which did NOT break, but rejected the price. Below 5760, I would take a short keeping SL above 5780. Similarly, if Nifty opened gap down today below Cam S3 & S4, then I would take a long above 5722 (S3) with Sl below 5702 (S4).
Hope it helps. Just remember, this is just a single piece of the puzzle called trading. :D
And the last joke of the day
At the end of the tour they took him to the financial district. When they arrived to Battery Park the guide showed him some nice yachts anchoring there, and said, "Here are the yachts of our bankers and stock brokers."
"And where are the yachts of their clients?" asked the visitor.
sir,
Not using filter these days?
BN Resisting at the morning High
@Nimesh Bhai & Kumar Sir,
Stoploss hit for 50% of shorts. Holding another 50%.
Any View.
DR Sir, Any idea how to configure the server setting for trade tiger. Mine not getting connected
go went gone >>>>
heavy OI in 5800 call indicates short build up. majority is looking at a range-bound market.
if stays here, panic for bears and fast rise set up in 5-20 sma in daily chart to top it.
it has the potential of 150-200 quick points.
@ Prabha - i couldn;t control myself - wat is ur another 50% SL level, may i know??
if u don't mind
on logon window there is tab (PROXY)
click it and select server of your choice
I use 13 cos nobody might be using it :D
@ Bhageerathi,
There are times I forget to study in detail while preparing the plan.
I "failed" to point out to you the "Hour JNSAR" to manage your "First Long". It (5755 @ 2.00PM) would have saved your long.
Many readers have pointed out in similar way - why it was not pointed out."
That should be your Home work.. Another clue: Infact, one of our readers pointed out --yes..SAN with his beautiful chart that Below "5782 - it would be fade the gap". And it did fill the gap and reversed. Such gap fillings give a trader, good trades. Add it to your education to be used another time.
Dear Prabhakar!
Mine was hitted at 5795 spot, double bought there and shorted again at 5830...will add more shorts with stop loss of 5850 on hourly closing basis only.
@Sujatha,
It is 5840.
when everyone is looking down, surprise move will be on the updside.
JNSAR long triggerred.
5833 hawala spot
Sir,
is the channel broken?
Gone.. :((
Ashish - thanks for your concern . no way my higher levels still pending :) :)
Nifty clsed March series was 5833 and after 3 week, Nifty at same level (5833) , absolutely no change.
nifty completed century..
@ Prabha - OOps.. that too hit?? anyway bye thanks
DR sir. only server or we need to enter details for proxy, host, port etc?
5843 is the hourly trendline resistance (abve that breakout)
dear sir Ilango,
for conservative trade i sell nofty 2 5825-5840 sl 5860 ?
regards,
Alpesh
ilango,
ur target of 5840 has been achieved...
booked all longs...
now waiting for a new trade....
@ SreyO,
Hour channel was almost touched @ 5843 but not breached.
Day Channel resistance comes around 5885-5895.
Thanx for the reply in the earlier post sir, it gave me the confidence to add longs and am sitty pretty now, always appreciate your responses
cooldent
only select server nothing else
Thanks sir. I surely dont expect you to point out .Very
difficult. Yes 1200 to learning experience
(Grapes are sour)
Sir,
Whats the view... again reverse to shorts as per JNSAR with folter?
thanx sir...i'm long according ti jnsr...what should be my SL?
@ Shreyunik, SreyO,
I do not think that situation will come.
Keep a SL @ 5805.
Sir- in the morning you had posted the below. Should i exit my exit my JNSAR short if it closes above 5840 or hold if closes below 5840?
Staying above Day's pivot-5730 & DLEma-5744, it could attempt DEma-5786 or 5800(Opening session) and if persisted, then upto 5840(10sma)
DR sir, not connecting to any of the servers :((
sir,
Day channel resistance is exactly at 5870.
:) got it sir.
sir the high ema and low ema is of how many period?
Hi Kumar Sir,
I am still holding my 5715 NF shorts with 5900 april
calls. Should I move to may calls or excercise my
calls on expiry day?
Dont catch Running Train
If missed chance to go long at JNSAR trigger
wait at platform have some snacks
Next train will come :D
Dear Debdeep!
That we will decide next week, so dont do anything.
Thanks Sir.
@ Bhageerathi,
They are 5 day High ema, 5 day Close ema...and so on. All are of 5 periods.
Post R2, what is the target? Especially since we are
saying no SL required.
ok thanks sir
Ok. Kumar Sir.
HCL tech hits 11 year high...
RG,
yesterday night you specified which color? Is it green or red?
Considering wednesday - thought it is red. Bit of wounds. :(
Am I missing something? In the daily charts, all I am seeing is a huge Inverse H&S, with the neckline at 5917 for today and 5912 for tomorrow. The weekly value is coming to 5912. But Master or Prashant's values are different.
will it close above DHEMA
@ Hitendra,
Nifty has crossed R3@ 5841. That is strength.
Now more confirmation by a breakout above 5900.
ealier high is 5845 now 5856 what will be DHEMA ?
also nifty above weekly pivot - 5828
Immortal
I think you should ask "who all r holding short with me?"
sir, 5885-90 would be part booking zone for conservative and jnsar longs?
ilango,
for shorts stoploss 5900 (positional)
for longs stoploss 5805 (positional)
no trades now for me till breakout / breakdown :)
@fire
in bank nifty daily i can see inhs . i cant see inhs in nifty
daily. can u upload if possible?
@ Cooldent,
The way the Hour & Day TA turning up, it looks a certain break past 5900 by tomorrow or Monday.
We'll look at it tomorrow.
Bhageearathi,
Pls go through the tech table and learn how to trade with it.Try few trades with your learning..Iam sure u can be a successful trader ...I was also like u 6 months back and now i trade of my own with the help of TT, needless to say iam making profits here...Credit goes to Ilango sir.
@ rrknan,
DHEma would be 5854
dear ilango sir,
yesterday you were saying overall trend is down , still
it is applicable ?
regards
gopi
in BN H&S triggered lets see if it sustains tom
Thanks for the update
krishna pls give me ur mail id.
i am expecting one more shake out for longs
Good bye friends
Sorry for repeating
“I’m saying: ‘Winter is coming. Buy a coat,”’
“Other people are advising people to stay naked.
If I’m wrong, you’re not hurt.
If they’re wrong, you’re dead.
Moral of the story : Never hold losing short position
CK : Yes. Another OMG !!! It is a break less vehicle which does not obey any rules !!!
Bye Sir. Bye Friends.
btw : CRUDE SAR 4874 if anybody is interested.
@PS,
Actually I am in hibernation mode by fever. Let me reboot tomorrow. Will definitely post the chart for you.
Dinesh Rishi Sir
What is the correct price level for fresh entry in Gold for
positional longs ?
Do you think gold can correct a bit to around 21500 to allow
a "buy in dips"
RG Sir
Do you have an excel file where one can get the daily SAR
(based on our JNSAR) for Gold and Crude.
Can I mail you ? my email is rishi(at)fastmail(dot)net
thanks and warm regards
Sir,
Tommrrow we will open at 5900-5920 can go upto 5950
and then correct as DOW will be up and TCS results
will be good. RIL results which will be declared
in the evening that will be good so it will close strongly.
But it will be good to close all positions and enjoy the
weekend with no positions.
whats the possiblity of that markets make a double top at
5950 and then correct 5700-5400 this expiry.
RishiM
We are long in gold from very very low levels
Now its not advisable to trade Gold long as fresh trade
Colin Twiggs
Medium-term tgt $1500* (+ achieved).
The long-term target is 1550*.
Jigs says 10% correction can come any time :D
can anybody tell 10 point rise in Gold price (dollar)
is equal to how many points in Gold price (INR)
I think roughly its 100 points
RishiM : 1. I don't trade gold - just on HOLD. 2. SAR cited is J10(10EMA) which can be obtained by replacing MCX Bhavcopy data on Nifty TA file. 3. Crude and Silver are my trading counters. Silver SAR is at 60731 (far far away ...but behind).
Hi DR : Thank you. I bought 2 coats.
@ DineshRishi sir,
it comes roughly 146 to 150 in INR, if we consider 1 dollar = 45.50
The price quoted in dollar is for 31 grams. And in MCX the price is for 10 grams.
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