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...
61 comments:
I am bullish on DLF for very short term, therefore taken position.
Nifty i am not sure about....it may remain sideways between 5410-5555
for next few days or it may rally to 5725.
But under all conditions my view is that this friday high may act resistance for entire june series.
5520 के उप्पेर आतिश बजी?
आशा करे ?
Hello everybody....
Ya Bushan ji....5510 k upar bhi start ho sakti hai aatishbaaji:)
Nifty crossed 5510...I said every dip is a buying...anyway:)
@ saibhakt,,
Dlf 232.50 will it be 1 st imp to cross ?
Good Noon Mynac
Dear Kumar,
at 5510 buy signal as per OI figures.
booked some profit in Puts at 94 but will
take position in puts again as and when Oi change again,
now clearly favours bull for very very short term
Dear PT,
Good Noon :)
नमस्कार मंडली
JNSAR 5511 long triggered right?
afternoon Ant,,,
JNSAR is still short till 5515-5525 is taken out..
market because of monsoon news, very good monsoon
rally not strong enough, would not be a bull for today, will look to buy puts again at some point
Ant 5529 SPOT as the SL now
good afterboon raja pvt ltd :-)
@nifty futures I thought 5511 and I exited there,
though I part booked some near lows bcoz of kumar sir thx.
BTW how to +10/15pts u take as sl, but what should be reverse JNSAR for long if not 5511?
Ant, 5511 is tomorrows JNSAR.
Dear NITIN!
Market may run continous depite bad monsoon as it did in Kargil time. As of now daily in sell mode but weekly is oversold & may try to turn +ve. Our dear Mynac cautioned everyone on friday that when Nifty closes below some certain EMAs then it goes near to JNSAR. JNSAR is a mechanical system, if Nifty breaks 5490 again then it will trigger sell but near 5480-5455 is very good buy as per MASTER & i am also looking the same:)
@badri Ok got it know day to day JNSAR, cleared the air.
nifty resisiting here. Fighting going on, puts compelling but wait for buy signal from OI
Nifty Intraday update: CLICK HERE
5511 is tomorrows developing JNSAR....... for today its quite simple...
JNSAR @ the start of day was 5495... so SHORT's got triggered... it will remain short till 5515-5525 is taken out...
also for the whole day JNSAR is 5495.. so any close above 5495(JNSAR) carry longs for tomorrow & any close below 5495 carry shorts....
hope it is clear now....
follow one system whether to book profit or enter a trade.. combining multiple system will never give enough money nor confidence.
@Saibhakt Sir:
Any specific reasons to be bullish on DLF - I mean is it a
pure technical decision?
I have been tracking this stock since its IPO. But
I am little skeptical to enter it as of now due to the
below reasons:
1. It is become a common phenomenon that when the mkt is
correcting it is the real estate sector which gets hit
the first.
2. RBI meet is on Jun 15 (I guess) where it may be a possibility
that rates may be hiked further.
3. Increasing home loan rates are hitting the real estate
sector very badly.
Since you are more experienced, I wanted to know your
viewpoints behind your position.
NF WELL SAID ............ SIR
brij,
there are many reasons for bullish stance on DLF.
First of all, it looks like 5 wave down move completed on it at the low of 208.
second recent rise from 208 to 240 level has been in very short time in compariosn to fall.
There are huge short position and call writing happening on 240 level.
So as soon as 240 is taken out, there may be blast on the upside trageting 275-285 level.
good thing about this call is that clarity will emerge by tomorrow evening itself.
so either tomorrow it will remain here around 232 by closing time
and provide opportunity to exit on cost or it will rally.
again, it is just my personal view. do not take position as per my view.
Prabhat, do not call Sir please.
I earned 50% profit from my short positions. so taken bet to lose it all.
that is the way i am.
Dear Kumar,
A day before yesterday Dear SAN's post on US market
regarding highly oversold DOW…. was a beautiful one...
If Nifty shall stay around these level than we may see
a bounce back rally there too.....
But........
A cunning Bear shall remain silent at present because
when JNSR starts to rise day by day and comes close to
closer to current price ,and if there is not that much evidence of short
covering in NF O.I. in spite of upward move & in EOD Bhav copy..., then … it becomes really tough for even day traders to trade so since morning still just silent observer…and probably may remain silent through out the session.:)Because weekly JNSR & EMA figures do not look promising at present… As the lead indicator is showing Hrly oversold like condition ,this type of Nifty behavior is very but natural.
At present Neither Bull nor Bear…
Prabhat,
One thing is dead sure, that it may not rally but it can not go down now.
As i will buy all. ha ha ha ha ha ha ha....
no sell signal emerging from Oi figures yet.
Favors hold/neutral/slightly in favour of bulls
Dear saibhakt & brij if this help u.
http://stocktipsatobeya.blogspot.com/
sir if against blog rule pls delete.
@Illango Sir: Is it possible to bring into volume into
picture in the JNSAR trade. Reason is that as per
intraday tables the JNSAR short triggered when nifty
fell below the LEma of 5491 with the SL being the HEma
of 5517 with the later being a level of stop & reverse
to go long. (is my understanding correct ..?).
I am not sure about the exact volumes traded, but it
seems that today's volume was not that great where it
seems that nifty is drifting sideways.
So can we adopt a strategy during such times of rangebound
or sideways mkt movement that volumes traded is to be
considered wherein we say that only when JNSAR triggers
after a "certain" (historically calculated) volume the
position is valid? This may help in negating the
whipsaws.
no sell signal emerging from Oi figures yet.
Favors hold/neutral/slightly in favour of bulls
@ thanks saibhakt,,
In my chart also buy signal wll come above 232.5
as per daily chart ichimoku it is already buy..
So we can enjoy : D
@ Thanks rahul ,,
Nice one for my library
Dear brij, We r here to help each other
Alert ...
A rising wedge like in Euro ....
@Ilango sir,
confuse about JNSAR. SL trigar for sell or not?
Dear Mynac!
Thanx for ur views & surprisingly my system also giving a rally of minimum 100-150 points in Dow. My system gave buy on hourly chart on Nifty, I bought near 5480 & i want to buy more in dips:)
@Kumar Sir: It may not be wrong to call u a surgeon.
Reason: You have begun operating the mkt with such precision.
Great to have such a participant amongst us.
@Rahul K. Jamkar
For unitech Waves and Technicals are hinting a long trade. A possible double bottom in weekly chart, There is a bearish pattern too But positive divergence in Weekly RSI is favoring a long trade.
UNITECH CHART
There is an H&S formation in weekly chart. If 5350 breaks down then we get 500-600 points on the downside. I don't think nifty will surpass 5600 in near term of 5-6 months.
VIX also gained hansomely from 16.36 & now near very important resistance area at 19-19.50:)
Dear Prabhat!
Thanx for ur kind words but i do surgery by my sweet pills of Homeopathy:)
OI still favours hold and slightly in favour of bull.
5511 seems interesting nifty trying but failing above that. Good number for JNSAR.
kumar sir can I talk to u on yh msngr regarding
homeopathy, want 1 suggestion. Plz add me on yh msngr,
matrixvipin@yahoo.co.in
Dear Ant!
Regarding homeopathy i discuss only between 9-11 pm from monday to thursday usually, saturday sunday in day time with prior appointment. I added ur id so u can discuss in evening.
Dear NITIN,
Thanks for your O.I.views.If possible please do post
the addition-deletion in NF o.i.i.e. in last half an
hour ago the intraday addition was 6.63lac and at present
9,07,700 lac O.I. is there means almost 2.50lac
addition is there and Nifty still holding around 5510
i.e. near tomorrow JNSR means one can take a fresh view
or can decide his/her view.. due to this information..
Kumar Sir joined Bulls camp so
Bulls are in such a hurry they could not wait
till 2:30
2:30 drama started at 2:10 itself :D
JNSAR longs trigered
@San sir Thank you
Ye Kya hua...kaise hua..kab hua..kyon hua..jab hua..tab hua...o choro ye na poocho...hmmmmm
Enjoying song with my longs:)
http://www.youtube.com/watch?v=saApSghVCOU
Dear Mynac,
Upside seems \limited and should be short lived, as per Oi or it may come back and pause for more clear picture
if you study Oi in 5500 call, Oi addittion of 5 lacs still stand at it from morning and writers are very confident of limited upside or some comeback before final wave. In 55oo PE oi rediced in morning but not too much , and then writers again starting writing in small quantity once nifty touched 5510. and then from 5500-5510 nifty they wrote about 4 lacs options in pputs.
Kumar Sir your Youtube link running on 2.5 MBPS
on my GPRS pack "Jadu":D
Dear Kumar,
:) khush :)
But born Bears still must be singing following song
from the same film..
"Kuch to log kahenge,logonka kam hai kehana,....
chodo bekar ki batoomen...... :)
New Post Done.
@Kumar Sir I am enjoying the song too ....
More upside left, picture getting clearer
hold for bulls
now option writers are getting aggressive in puts.
4 lac addition at 5520-5525 nifty, in 5500 puts.
JNSAR 5511, worked very well.
Myself is now, no position.Buy signal but afraid to get into on buy side
due to too much uncertainities around.
so will sit outside. till get signal on on short, if any.
At some time looking to get into some
oppurtunity on short side.
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