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...
63 comments:
All,
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Easy money making opportunity:
ambuja cem 130 put option bought at 1.40 for target of 14 min.
in june series.
@Saibhakt Sir: What are you views on RCOM? they gave very
bad results for the qtr. Any signs of it cracking 80 by
june series?
Everyone interested that how long this rally will go?
My view is till SBI 2475 Level comes, this rally may continue.
but before that a correction is overdue upto 5430.
Dear gauresh!
Pls accept thanks from bottom of my heart, ur msgs are always inspiring & meaningful. Yesterday my airtel broadband was down but believe me, when i logged on then i searched firstmost ur msgs and perhaps you could not post yesterday. Once again thanx for sharing good thoughts always, keep it up:)
kumar sir, Sell BN now or on rise or on break of 10810?
DR sirs magic number 10851??
Negative divergence in Bank Nifty on hourly chart confirmed, Sell here & in rally near 10925 spot....stop loss is 10980 and target is 10600-550 in 2-3 days.
Thanks sir
@ Kumar,
Thanks for the inspiring words……….
I myself have realized that the words of good teachers-gurus, good leaders, spiritual personalities have too much effects that they can change our ideology to a great extent. Their blessings never get failed...........sooner or later they give favorable results. And precisely for this reason I daily put "quotes" received from my teachers in the blog. In fact, my life has been changed to a great extent only due to constant touch with my teachers – gurus and their advices.
The first hour closed below H-LEMA,W-LEMA & M-LEMA, but still managed to close above the DHEMA. For sustained weakness, we need at least two closes below DHEMA.
In general, a correction ends at the iv of the last impulse to keep the last trend intact. So, if 5458 remains intact, the uptrend may resume again. Otherwise, we have to assume that the upmove was corrective and the main downtrend has resumed.
good morning sir and all :)
Gauresh sir - yes me too a follower today's quote is excellent.
PS : "My value also not increasing" hence my sound also not "decreasing" :D :)
DR-ji - Dragula laughing at forum :) ask him wat is the matter? :)
@sujatha mam. :))
What is meaning of :D
Hi Prabhat,
How to calculate Intraday levels based on Vix?
If possible pls share method. If in excel sheet, mail to my id: keerthi405@gmail.com
Thanks in advance
Chandra
@Cooldent,
I checked out your photos. They all are excellent. I liked the Bulb best (a bit biased, being a dim one myself) :D
@saibhakt. Dragula laughing at forum :)
GM Sis
See his time of posting (01:37:25)
He Polar bear :D
@ Sujatha,
Please do not address me as “Sir..”
I am still student of each element of this universe and want to be student for ever…..
Please....
@FIRE. Thanks a lot.
SaiBhakt said...
What is meaning of :D
http://popularemoticons.com/wp-content/plugins/wpshapeshiftr/images/yahoo-smileys.gif
Dear saiBhakt!
I dont know what it mean of :D here, but one of my good trading friends when completes profit of 10K in each trade then send me this symbol to indicate "DONE", may be DR also indicating the same:)
When I take short position, market does not show courage to make my position in loss, so it stops at least so that I exit.
Last time i did not exit, so it was not bale to rally.
When I exited, it started rallying. Again I have taken short, so again rally is stoping.
But this time I will exit early so tat it can rally.
hihihi.....arrogant na
Kumar sir and DRji are swiss banks themselves :P
Thank you DR.
Actually Sujata uses them with great effect.
good morning everyone - good luck for today
@ SaiBhakt
Thank you for your question.
@ DR
Millions of thanks for your answer. I am really amazed by the width of your knowledge.
Thanks and regards DR
LV
Dear Ramcharan!
No swiss bank, due to this kind of rangbound market now v both have to shift in rural bank...Swiss bank reserved for our dear RG & FIRE. Yesterday sold Nifty fut at avg of 5590, partly covered at 5540 & searching another opportunity to go short:)
BN covered its 100 points discount
NF trading at Premium
Allah hi malik hai !!!!!!!!!!!
@Kumarji,
Today I am absolutely in your camp. So please take Nifty to 5570-85 now and then break it hard towards sub-5500. Please! :P
Fire- :) greedy..pls finish ur quota of shorts here :)..
Oh Really FIRE ji.........wow........wow..... Big Bull in mini bear camp...now no fear:)
http://www.youtube.com/watch?v=QJj3eA3H7QE
@Ramcharan,
Wanted to do that but the hourly closings are not supporting any serious weakness yet. Now this hour closing again above DHEMA and above W-EMA too. So where is the weakness in price?
Also closed above H-LEMA too, implying rangebound moves. :(
SSA Drji:-)
Sent new excell...please take a look
@Kumarji,
There are still many obstacles in the path of being a total bear. Yes, the hourly indicators are weak. But the daily indicators are actually very strong. Even in hourly chart, 35D hasn't triggered sell yet. So, now if the daily trend decides to prevail, the hourly weakness may not matter. So asking you for a good fall from the higher levels, so the TT can change its color to deep red. :D
The first signal may come from BN breaking 10820.
Gagandeep ji SSA
Govt office rule
pass the file to senior
so done needful :D
Nifty not able to touch yesterdays low
opening gap filled
Dear FIRE!
That i expect after Europe opening, i know ur capabilities...U r big bulls than HM, RJ etc. so without ur signal i will not move further:)
Drji:-)
@Kumarji,
It would be better if you directly told me to get silent. :D
Going away. Bye bye.
@FIRE - at what price action will you be convinced that this is not wave b of wave 2 but rather wave 1 of wave 3 ?
Dear FIRE ji!
Tussi na jao, agar aap chale gaye to is market ke fall ko koun sambhaalega...so pls stay with us:)
HOLDING 5500 put bought at 76.
ambuja cem 130 put bought at 1.40
exited titan, dabur short position.
sir,
i have a question abt ew. i read in ur prescribed book
beckman when 12345 impulse is complete the abc
correction shud be deeper than greater of 2 and 4
and more time wise than the greater of 2 or 4.
is it a hard ew rule?
ew experts like manojji, fire, vanquish and others also
pls comment
GM Everybody..
@Vanquish,
That would be for Master to say as I only follow his count. But I would be sure only below 5328. You can see the pink count in Master's chart, which says that B is going on. Now generally B can correct A upto 78.6%. So we may wait and watch the TT to give the changing picture and then refer to EW to give the correct perspective.
@Kumarji,
LOL
@PS,
Shhh...
Global markets negative...on this back ground 12 lac
addition in NF is surprising.even addition of
5 lac O.I. in 5800 CE is really surprising..
Is something cooking ? because still there is not any
sign of short covering in NF in this series.Bulls
still controlling the situation,but it will be
interesting to see if Nifty shall go near 5630..in coming weeks.
Ilango Sir - please look at the price action from 10.19 am on 1st June (made high of 5595) to 15.04 on 1st June (made high of 5597) - I am unable to locate 5 waves upmove - if yes then that had to be an irregular b -- which leaves the wave count with 2 options -
1. todays low completes the wave b correction
2. if a new low is formed today then wave 2 has been completed at 5597
Can you please verify ?
@ Fire
Sent new one
@mynac: Do you mean market will move up or better
to wait until it reach 5630?
@fire - thanks for your valuable advice
@ps - learning from me is a big mistake but here are my 2 cents
as far as I am aware there are only 2 hard rules in EW
- wave 4 cannot violate wave 1 price action
- wave 3 cant be the shortest
the rest are flexible guidelines
sbi supporting mkt to new high for DR
thanx vanquish.
fire making me silent ?? why??
all ew followers - have a look at icici bank hourly chart - wave count looks very clear there -
if icici breaks out above 1069 then its wave b is over but unable to do that means it is in 5 wave correction - icici bank has been leading the NIFTY for sometime now -
parminder said...
sbi supporting mkt to new high for DR
or patli gali exit :(
I will Go for anshan on 1st july if NF does not come at 4800 on Expiry :) LOL :D
Fast rise setup on 5 min chart between 13 and 200 min ema.
@PS,
Because you were asking ME about EW and that too with the names of stalwarts!
New Post Done.
Nifty getting resisted by an internal channel line for each hour of the day.
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