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 ... -
Will not be available to intra update . Suggest one of our readers to update on DHEma-HHEma-HCEma & HLEma for possible support points fo...
73 comments:
DOOR CLOSED - reposting
Sujatha said...
Fire - me pity "alone" since a week u didn't find? from last week. But long term still weak i feel.
but yes, now my "positional" indicator showing +ve. but sentiment attack again. that is if early week beginning CAM H4 is not taken out means it's -ve. so i will trade both the sides.
same applicable in FIBO too 61.8% it has to taken out. (but don't bother about my homely sentiment trading :D ) let us see my intra itching is again @ 5409. but inbetween JNSAR - strong sir is sitting with "stick"
May 27, 2011 12:05 PM
@Bizagra,
Welcome to the club friend. As the stalwarts are not supporting us, I was just reciting and reminding the logic of long, mainly to myself. Today's closing will be decider for all the observations.
We need the veto powers of at least one of them, e.g. Kumarji. :D
Fire Sir:
Can't we just have 5350 before we go long to reach 5600+... that would be ideal !! :)
Sir
Why cant we label pink 'e' as pink 'c' and current price
as pink 'd'
please tell wht can be bullish count if nifty rallies from here
thanks
My underhand attempt is gaining some votes...
@Sujatha,
You have your own system like Kumarji, DR. I have none, except if you call "Following" a system. But you were obviously the first senior here to oppose the bears (me ex-bear included).
Dear FIRE!
I m ur follower so will change coat after ur mail, my e-mail id still waiting ur precious mail. If will not get ur mail then will change after closing of 5465 & play for 5550-65:)
any option writing strategy????
Long since yesterday, when nifty crossed daily low EMA -5370,
Also closing above 5400 yesterday bolster longs,JNSAR longg added remianning confirmation,
also in 5 minute charts rise form 5328 depicting 5 upmoves with impulsive 3 rd going on...lets see how well it goes...
@shreyunik,
That is the red count in Master's chart. I will be buying in dips now, keeping SL below 5320.
GM Everybody...
Dear Sujatha... still worried ? obvious...cause your
targets must be much higher :)
But lot of hopes to you this time because at expiry
NF O.I. was 2.08 CR.and out of 2.08 90% is between
recent low and 5450...and Nifty now reluctant to go
down below 5450 :)
So do you think so Bulls shall start
to book their profits around 5450 ? As per O.I. data ..The answer is No..Probably 2.5 to 3%
rise at-least would be there is one feeling..
@ Fire Sir,
Yes Sir. Am following the same. Bought yday in the dip and sold in morning high and shorted again.
Even Bulls are digesting today's 13 lac O.I. addition..
Inverted H&S on intra charts. This can go to 5470 and fill the gap.
@Kumarji,
Again you are reversing the order of following. Can't send you mail before today's closing. And then it could be too late. But my feeling is Nifty can spend rest of the day in this narrow range with marginal new highs. If that is the case, then a gap up on monday to fight Sujatha's 5506/5525 and your 5565. But one has to remember my natural talent to go wrong. :)
@Mynac,
My saviorrrrr...
Now BN fut. is close to breakout. To be or not to be, that is the question.
@ Fire - y monday, 5572 resist will give 5503 to 5528 today itself.
lack of 4 points nifty sensex hits again 18225 if it is intra double top means??
not yet reached 18256 lift will give superb upperside.
Prabhu Aaap ki daya sey Sab kaam ho raha hai
Kartey ho tum Kanihya, Mera naam ho raha hai
Patwar key bina hi meri nav chal rahi hai........
http://www.youtube.com/watch?v=0OWYVCTNKSc&feature=related
@Sujatha,
You are confusing me. where is your vote now actually? Now you are encouraging my longs, now you are puncturing my bullish balloon... Please don't scare me anymore. Overload ho ja raha hai... :(
18225 crossed. Now 256
18225 crossed. Now 18256... Khul ja simsim...
sorry fire - 5472 "typo" 5572 :P nothing puncturing
but yes, now my "positional" indicator showing +ve - mentioned clearly.
18254 done
Looks like Sensex & BN fut. will cross the hurdles together. Also, 5473 for Nifty.
DR sir,
i could not understand why there is huge discount in bank nifty future and sopt
dinesh sir
nifty target???????????? sir im firstime in trade nifty
i have one lot @ 5435 level wht do u now ? hold or sell?
Yesssssss
Got 2 SW (stalwart) Votes till now. Mynac & Sujatha...
In 5 min:--
1st - 5328-5406
2nd - 5406-5364
3rd - 100% of 3rd - (5364+78) - upto 5442
161.8% - upto 5387-90
Nilesh
Few years back I had made a chart with Premium and discount
for more than one year data
did lots of study but did not came to any conclusion
Pr/Dis dos not indicate anything thats Y we calclulate
SAR or do analysis on spot price.
@ vote4LDF sit tight whats JNSAR ?
sorry--
correct 3rd Upto 161.8% - 5487-90
Oh yes once Master said
during result season due to dividend spot price is higher
than future price :D
hi guys,
nifty target remains at 5900+. we may see oscillations
here and there but till 5170 is not taken out tgt
remains at 5900+.
@Anil,
Thanks friend. Generally 3rd goes from 161.8% to 261.8% of the 1st. 100% of 1st is rare as that implies 5th failure.
So please post the 200% & 261.8% too. :D
sirji ,
one set of 5 waves near completion?
BN looks impatient. DR must enlighten us at this point.
ankitsolanki said...
hi guys,
nifty target remains at 5900+.
we may see oscillations
here and there but till 5170 is
not taken out tgt
remains at 5900+.
mind it :D
@fire -
161.8% - 5487
200% - 5517
261.8% - 5565
5-35 oscillator supporting move for 5565
Thanks sir
Fire
mine BN trade over now watching Zinc, copper, lead :D
Dinesh Rishi said...
can easily go upto 650 but Master says
Leave something on table for others
May 27, 2011 11:27 AM
exactly 18256 hit madam
@PS,
Is it possible that v has started from 5449 and going towards 5525-5530?
@Anil,
Thanks a lot.
@ PT:
Hey, where r u? Doesn't look like June is going to be a down MONTH ALL THE WAY... AGAIN A TRADING MARKET... BORING
DR sir, SAR for pots in BN?
thanks for the TT update sir....
Sorry cooldent I 4got to update
actually buy was from 10500 spot
now one can keep 10435 fut as SAR if already long
Will Update from Monday.
why not fire surely it can be that way or
maybe higher.
Ilango sir why u have marked this wave as a/1, corectives are abc then why 1??
Hi Kumarji,
Hope you are dong wonderful.
Can we be with 5500 put with spot having steam to go till 5565?
What would be your advise as expected target of 5500 puts on the positional basis?
Thanks
Nifty Resisted at 5473
23.6% Retracement of fall from 5944 to 5328
@DR,
Thanks a lot. Asked again as BN fut. may break the trendline resistance if makes a new high now.
For my bull friends,
Today if closes above 5452, the weekly candle would be fantastic and also above all TF LEMAs (Above DHEMA too). Maybe its too soon, but can Elliotist friends say if this CAN be the C up of the larger B? Was looking at the monthly charts, fantasized a bit.
@Kumar: Puts are still valid?
Ilango Sir,
If the wave unfolding from the top at 6335 is a C wave, then why is not clearly showing a 5 wave structure? Does that mean it is not a C wave? Sir, please elaborate on the count when free.
Hi, Can any one tell me abt DLF....look like if DLF broke below its March low of 211. Meaning that its extending to the downside
Till then it was possible to say the fall from the 06/09 high was an A-B-C but now
its probably 1-2-1-2. I terms of the larger structure it could have very bearish possibilities
Equality target is 63 over a long enough period of time with multiple subdivisions
FIRE said...
"With all the indicators rising from the oversold zone like zombies from the graveyard and India VIX breaking down convincingly from its 2.5 months long range, its hard to keep the bearish tag now."
May 27, 2011 10:28 AM
:)
Perhaps Mynac is going to be right!
@Fire
I am not a grt reader of EW but here is one view of
Autogenerated Elliot of ns and banknf for u. I don't know how reliable it is, u decide.
NS daily http://farm3.static.flickr.com/2703/5763848063_ea8bcfc20d_b.jpg
NS weekly http://farm4.static.flickr.com/3481/5763848069_417dc9e3b8_b.jpg
BKNS daily http://farm3.static.flickr.com/2089/5763873613_0dbbeac5b6_b.jpg
Other I think banknifty has taken support here.
http://farm6.static.flickr.com/5182/5763873537_cba1c389b0_b.jpg
I was hoping for down until ystrd now seems tide has changed.
my nf tgt for long is 5666.
http://farm6.static.flickr.com/5188/5764184612_95eb3c9b1e_b.jpg
Lets see today JNSAR close how it happens.
BTW don't take me seriously as I am chotu trader learning under shadow of master. hehe your view seniors welcome.
Friends why don't you take a look at nifty charts for May-Jun 2010 (specially the dates where it hit high & lows).
History often rhymes :-)
@ Bizagra,
Correctives may unfold as "abc"(A)abc(B)12345(C) or 12345(A)abc(B)12345(C).
Nothing to be alarmed about.
nice bhajan dinesh bhai
@fire
look at 5 in , maybe 5th done .?
5 min
Hi All,
Plz go through this, SocGen Head indicates a STORM WARNING FOR EQUITIES.
http://www.firstpost.com/world/storm-warning-16497.html?utm_source=MC_HOME
KUMAR TECHNICALS said...
Dear hitz!
Just buy 5500 June puts between 135-100 & stop loss 80 covered all things within it. Risk reward ratio is good but buy in small quantity only bcoz we have to see, where this pull back stops?
May 20, 2011 2:49 PM
Dear rajapvt!
If one bought put on this original call of last week then its no worry, its still trading near those levels & stop loss is too far. I m still holding these & trading in this:)
@PS,
I am not an Elliotist like you. I am just watching the hourly chart. I am in sea whenever I look at the 5 min. chart. :D
Can you please tell me if it is possible that --
A is completed at 5178.
a.B = 5178-5945
b.B = 5945-5328
c.B = 5328-?
Far-fetched I know, so too scared to ask Master. :D
BN fut. made high exactly at 650 as DR said!
Reposting - Nifty future below 5490 is –ve. (positional view)
Intradayer's can note and "scalp" if interested. Hit 5482
cleared some long @5485 Ilango sir level, kept some for 5505 and above.
doing govinda,govinda all alone.
@fire
this rally has upset my counts . i dont think i shud
answer this but c may have started at 5944/5912.
i just took inspiration frm u and by sir's yesterday
comment and looked at 5 min chart.
New Post Done.
@ fire,
ur count looks really perfect even on logical basis.
a.B = 5178 - 5945
b.B = 5945 - 5328
C.B = 5328 - 5945 to 6000+
thats when the retail would get trapped in seeing the 5950 resistance
break and the big C wave down would resume.
Indian equity market ended up 1.20% due to smart rally on F&O expiry and closes
above its psychological 5400 mark as Nifty gained 64 pts to end at 5412 while Sensex
was up by 198 pts to settle at 18044.Euro markets were mixed with FTSE up 20 pts at
5890, DAX down 32 pts at 7139 & CAC up 6 pts at 3935. Dow future was down 10 pt
Nifty tips and Support and Resistance for 30 May
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