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....
-
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...
80 comments:
Reposting..
Hi ramesh !!
You can find PDF file by Master on below link.
http://www.scribd.com/doc/53735151/Ilango-Tech-Analysis-Explained
DKG fruitful effort
JN is shining !!!!!!!!!!!!
@fire - this is getting hard to trade :) please keep updating your thoughts on wave counts - thank you
@ant - thanks so much
@Ilango sir - thank you for the update
@ DRji
STT is missing im MSExcel.
Kindly include the same for accurate profit loss calculation.
DKG my inbox is full of thanks
Dinesh ; Dinesh
double role wali film situation Sita or Geeta
ha ha ha ha
Beautiful Life said...
@ DRji
STT is missing im MSExcel.
It will automatically calculate Appx brokrage for both
legs on trade completion br+taxes with .001% br is in formula.
THANK U DKG.... Now did I get it right :)
@ All Now You can manually enter your brokerage in excel sheet ... just changed some setting.... sorry to the maker of the sheet.... changed sheet here http://www.4shared.com/document/crMzOZgX/TRADELOGV12.html
I am entering brokerage + all taxes in brokerage column. So you can.
DR Sir,
:)
@Prabhat,
The market goes by a simple principle - To inflict maximum pain to maximum people for maximum period. So how can it do so now? Maximum people are now expecting this bear market to continue and see much lower levels. So perhaps SBI@ 2800, ICICI@ 1150 or RIL@ 1050 may bring the pain? Then Nifty would be at ...? :D
Dear Sujatha!
Itching is a disease which alwaz gives pleasure to patient. I agree, it can go anywhere if closes above ur 1st resistance. But trust me...U will see war here with naked swords again when it will try to kiss 5636:)
A beautiful Cup or a Shoulder and Head is in place now. Will Nifty focus on building the Handle or the right shoulder for some time?
Dear Master,
It is my humble contribution with the inspiration
of DRji...You are very kind
best regards
Goodmorning Ilango sir and all,
@ Fire,
In which Time frame are you mentioning a cup/shoulder? I am not able to percieve one!
R/S ILANGO SIR,DINESHJI &GAGANDEEPJI.VERY-VERY THANKS.HAVE A GOOD DAY.
@Satheesh,
http://tradeinniftyonly.blogspot.com/2011/06/nifty-slowing-down-near-5600-mark-with.html
Gagandeep /Ilango I would request you to mail me the options excel sheet.
GM Everybody
@Mynac,
Your views please.
Intraday bollinger band pattern is getting squeezed. Whenever such things happens then one sided movement arises .. either a breakout or a breakdown.
Acc to the chart posted by San, this is the 2nd time nifty is getting resisted as 5600 levels. But I am afraid as to when it will yield to bulls.
Sujatha mam is silent today. Maybe ma'm is cashing in on longs ... I was a bit too early to get into shorts..
@Fire: Very true. Sometimes I keep wondering what it would be like to take contradictory positions to what the majority think ... :)
Also, there was a friend who cashed in on my fate where he used to go long when I went short & he used to short when I went long. He went rich while I went poor. :)
There are 3 kinds of Men
Asian
Has Wife & GF but loves wife d most
American
Has Wife & GF but loves GF d most
Arab
Has 14 Wifes & 9 GFs but loves his Camel d most :D
@ Crorepathi & DR ji,
Would love to read on "weighted average decision matrix".
If possible, kindly share any material on the same.
Regards,
BNS.
@DR sir: ha ha ha .. in a jovial sense - So which category do you belong to :)
there are -ve divergences in 15,30& 60 minutes nifty charts .
will price confirm this.caution adviced ahead
BNS
http://iamanikon.com/wp-content/uploads/2009/07/Under-Construction.gif
@ DR ji :) ok
Reliance AGM going on now;
Dear FIRE,
From data,it looks Bulls are in total control.
If NF shall cross 5620 ,which is most probable
today,then real short covering would lift Nifty,
even up to 5750-5775 in coming sessions.This view is
from day trader's mentality.5610-5620 would be decider
for the move,Probably Today is never or now situation
for Bulls & Bears,So they would take the chance/advantage.let us see.
shall not support then shall have to accept
their defeat this time.
@Kumar - yes agree that is the "culprit" "GajiniMohammed war" :P
@ fire - my tea is boiling in the vessel. pls. send me your cup fast. snacks too waiting.
DR - ha ha ha - see below bit childish
Principal - hey r u here??? are you "chewing gum"??
boy - no sir "i am barath saxena"
Prabhat - Hi :)
Ilango sir- Any impt update on lead indicator? Are there are negative divergences there?
Addition of just 10 lac O.I. in NF is also suggesting
the eased selling presser,though Nifty is trading at top.
mynac - shhhhhhhh... bit relief...
Fire, I have sent you a mail. Kindly go through when u r free
@DR, @Sujatha: LOLZ,,,
I have always lost money in the anticipatory counter-trend trades. Like my ST puts are suffering. :(
Thx Master for the TT update.
@Fire,
Yes I got your point but in a Larger picture I feel if 5605-5610 is resisted and not taken out then it becomes the Shoulder for a larger H & S pattern. I have just provided the link for the same.
https://picasaweb.google.com/103973773349621758823/Jun32011?authkey=Gv1sRgCNvKuMOS776KqQE#5613865727383861810
Dear Sujatha,
:) yesterday and today in first 2 Hrs. the FNO
turnover is below average..and Nifty holding 5555 is
worry for bears.So have kept 5620 as a S/L for puts
and today's Nifty low as S/L for Calls :)
Chart Experts kindly give your views!!
Fire sir, I have sent you a mail. Kindly request u go through when u r free
sir,
yesterday u were telling 5th complete for A frm 5328.
in green labelling (probably preferred view)
showing 5th pending. red 5th complete. whats ur
preferred view with market action till now 5th
a complete or maybe 5640 conquered in A
itself which is going on
Dear satheesh!
Thats the point which i mentioned so many times But i could not convince FIRE, even he is showing me his both shoulders:)
Kumar sir,
:):) - Fire - your views now???
and I feel happy to know that a "jambavan of Trading" supports my view!!
Satheesh, the same thing [with image] i have mailed to Fire as i do not know to upload the image here. thanks for your efforts.
Bat, butterfly, cup & handle
now
crab pattern
http://blogs.fxstreet.com/forexology/files/2009/01/crab-pattern.gif
Kumar sir,
We have to be cautious as the bull camp - mynac and sujatha are having highly bullish views!!!
After Mukesh Ambani speech, marketmen will say it was less than expectations. Only a hourly close above 967 may bring some voltage in this counter upto 980-85:)
@PS,
The sharp opening rise resembles (c) of "b" of a Flat correction.
That is the preferred view.
The "c" wave may attempt 5555 & 5529. But the close would be interesting.
The firm Day TA is against all such above thoughts.
Critic feels more highs to come.
If it is the green "v", it should clear the high in the next hour or two.
Dear Satheesh!
Dont worry, Mynac is nor a bull nor bear...he is best open intt reader so may change his colour very fast. Only worry is, Sujatha technical Institute...he is buying heavily....calls or puts that i dont know:)
Also Satheesh, 5605 was the previous high and 5603 is 200DEMA. Sensex 200DEMA is at 18680 and today's high of sensex sofar is just shade below that 18672 though nifty touched it and resisted at 5605. So from EMA point of view and H&S pattern point of view also, this 5605 becomes very important.
@Satheesh,
LOL
Received the same chart within 10 minutes from Badri, Rahul and you. It seems Kumarji has a lrage battalion. We the poor bulls are left to wage a lonely battle. Allow me to quote from my reply to Badri -
"The larger bearish H&S have some problem with the right shoulder. It also is being followed by a lot of people. And nowadays, classical patterns like that tend to fail due to this wide following. On the other hand, the bullish smaller H&S in the making, that is opposite to everybody's current expectation. So in my opinion, it has a much higher probability to achieve the targets. But lets not be carried away by any of this and follow what TT/TA is saying. Now it is in favor of bulls."
"mynac and sujatha are having highly bullish views!!!"
Dear satheesh, I am pure day trader so will change
the color immediately :)So from here 5600 is
crucial.As a Bulls don't want NF to
trade far away from 5600,and a Bear vice-verse.:)
The added O.I.is relief as Bear & low FNO turn over is
the hope as Bull.:)
though nifty is making lower highs, the MACD & RSI still look bullish.
@Kumar Sir: I am switching teams & joining Fire & Sujatha mam. Removed bear dress & putting on bull's dress. If in case nifty does not break 5565 by 12:30 pm, then I am going long at CMP to ride the wave till 5720.
If it will fly then...it will be Bird,
If it will sink then ... it will be Frog.. :)
FNO O.I. data would play major roll from here.
Dear Prabhat!
Good wishes, kindly have a seat there bcoz i may join u after 5635:)
Satheesh - u know am BIG ZERO in charts, fortunately my level 5606 matching with your chart.
watch candle 13th may high 5606-5472 low it's a ourside bar as well as an insidebar setup with the candles of 12th may and 16th may. On 17th nifty breached 5472 and sofar not able to resist there and closed below 5440 below 5472 low of the outside & inside bar.
So, wat i am thinking is under normal circumstances we see much lower levels unles this 5606 taken out upside on closing basis. (I sent this to fire on May 18th) this is impt. for me. hence i posted this 5606 to kumar sir also.
@Kumar Sir: You are welcome. It is a good point that Fire Sir made. Once nifty crosses the range of 5620, huge shot covering will rocket nifty to outer space.
@Sujatha Ma'm: Do you have room for 2 more?
Mukesh Ambani gone without giving any chocolate or even toffee too, expect the Bank Nifty,s down dance now in 1-2 hours:P
thank u sir,
ur preferred ew view helps a lot in part booking. 2c
pending confirming with critic's view
yesterday i was asking about time. 2a took 6 days so
2b going on then 2c mostly large part of this
settlement/or whole might be bullish
@Kumarji,
You have really made life hard for us small bulls. Perhaps you will remember that last Friday, after 10 am closing, I changed my coat. Now it has taken a week to get another vote for our minority camp. :D
@Prabhat,
Welcome friend.
@Sujatha,
Our camp leader, please support Kumarji for a few points fall here before breaking 5606. Then I could get out of my ST puts and the bullish structure would be stronger too.
@All the pattern lovers,
Is that a Continuation Inverse H&S in BN 30 min. chart?
biased with position, preempting the price,,,
Oh all seems to be taken position and waiting market
to move,,, is it?
Prabhat - That is the impt. candle for me. How it's reacting there is impt. Once failed. But ichimoku daily & weekly, cam, fibo all supporting @ lower levels. But @ this juncture (OB) i will be bit cautious. these technicals are not permanent. Nifty slapped severall times and now i am "chubby cheeks" :P
Time for chitrahar
http://www.youtube.com/watch?v=SoGWcunnY_s
sujatha mam....
வணக்கம்,
Dear FIRE!
Its survival war, i know above 5635 U bulls will not leave us so trying to go for ANSHAN with Swami Ramdev. Bring 5500-5475 1st, i may join u there temporarily:)
nifty not going anywhere. bas mast-mast batien karo.
@Kumar Sir I am with you ..
Dear SAM!
Thanx for single vote for me against FIRE:)
@ fire,
i am looking at the weekly one :-)
http://o-j-n.blogspot.com/2011/05/weekend-analysis_29.html#comments
BN sinking
kumar sir- pls add me too..heavily in :)
@Kumarji,
I would be only too happy to see the levels you mentioned. Then I could take some meaningful position for longs. But looking at the character of the falls, can't hope much. Each fall is looking corrective, every rise is looking impulsive.
Now BN is my only hope. If it touches the Flag lower boundary at least...
Laal.Laal till 12:32.
@Fire Sir: Me too .. I want one dip below 5500 before nifty attempts to break 5600 since I too am stuck with 5500 puts .. want to get out of it.. Yest I had the opportunity to get out at no profit/no loss. But bull tightened its tail around bear's neck .. Looks like the bulls are toying with bears.
Its just like the bunny & the carrot. The harder the bunny runs & thinks it is near to the carrot, the carrot remains at the same distance away from it. Looks like bulls put a red hot iron somewhere below for me. :)
Intra S/L triggered..:) for ce
sir intra-day update-2 please.....
New Post Done.
@Mynac,
thanks a lot. Can I hold my puts a bit longer then? What could be the expected level now for intra?
Post a Comment