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...
97 comments:
RICHARDSDIAZ said...
copper gapped dn today :(
buy for gap filling :D
Dear Parminder!
10940 which Sold yesterday at 10900-910 spot, gave 40 points two times today itself & 60-70 points down also from my selling levels. But which sold today for intraday, spot loss 10870 spot:)
if gap filled tgt is 424
thanks kumar sir
Dear DR!
I never track copper but just saw its chart after ur discussion with RICHARD. Its not looking good anyhow, below close 400 it may fall minimum 5-10% so be cautious only.
@Kumar Sir: You are appreciating me more than I deserve. I am obliged. Thanks. I have learnt it from all you seniors who are like role models for we juniors. I owe a lot to Master for this.
Also, at such stagnated mkts it becomes very tough to put SL for trades. Most people (including me) anticipate one direction movement & get frustrated when mkts stagnate. So whenever there are any sharp 20-30 pt movement, emotions run greater than technicals & price variations are more than anticipated. Also whipsaws take out SLs. Hence I choose to sit it out until any clear signal emerges.
Dini bhai ,,
SS combination,, : D
nifty slowly inching upwards so that kumar sir dont start slapping
Agreed Kumar Sir
but its below 400, and 400 is rock solid support
Now Tcs
Nifty trading above 5550
H3 5575
Slipping Pill
read as "if" for "its"
2/6/2011 gapped dn but closed positive
7/6/2011 gapped dn but closed positive
today gapped dn and trading at days high
/6/2011 gapped dn but closed positive
7/6/2011 gapped dn but closed positive
today gapped dn and trading at days high
seems nifty wants to go up
@Experts: I somewhat got the feeling that bears are just playing the waiting game. They just want the crowd to think that nifty is sustaining above
5500 so that the call premiums are kept high.
Finally when 2 weeks are left for expiry, they will come out with sucker punches to bulls.
@Kumar Sir: It is great to find someone with such clear levels to change dresses. Any rally held below 5625 are all shorting levels. Any dips past 5625 are all opportunities to go long. Great to have you with us. Keep guiding us always.
@Fire Sir: Sar apki analysis mails to fandu hai.. You must be named as a Nifty Researcher.
Dear Prabhat!
I second u regarding FIRE, he is coolest analyst here & we are all lucky to have him.
@Prabhat Sir , I third u regarding Fire Sir after Kumar Sir, but I am one of the people who don't get valuable emails from Fire Sir.... We expect Fire sir to Publish his views on a blog for benefit of all Juniors like me.
Dini bhai,,
Platinum chart
brijsolution said...
Dini bhai,,
Platinum chart
I dont track
First I study behavior of script for 6 months
than only I trade in it
and my Rule is only one trade in system at any given time
one for commodity and one for Index
Sir and freinds went long for intra at 5556 nf
@Sam: Fire sir does send out his analysis mails to the mailing group which Master has created. What other mails are you referring to?
DR Sir Your Comment saved.
Afternoon Everybody....
@Prabhat I am not getting mails of the Group... Checking setting.
Kumar Sir: Intraday update - 5500 put premiums rising with stagnation of the nifty. Does this indicate arrival of an intraday fall?
look kumar sir started slapping
@PRABHAT,
Are you holding ambuja cement 130 put option for target of Rs. 14.
DR-ji - i can add in that another one - i will not jump for all the scripts. "only selective" and always that only..if no chance... will wait..so totally unaware of all other scripts :P :D
@Saibhakt: I am not. Is the train still at the station?
Dear Parminder & Prabhat!
I m selling continously since yesterday when it was 5560 & today again i sold in rally. Intraday Bank Nifty eaten my stop loss but resell again below 10870 & had profit of 40 points again:)
Good Noon Mynac ---
So now Fearless Shorting :)
Dear PT,
Was away since morning due to other work ...First impression after watching screen... Huge addition of 15 lac O.I. in NF and Nifty holding day low but can not come up to yesterdays top... But Bulls trying very much hard to save their fort by keeping Nifty above JNSR...But tough Task ahead for Bulls..If it will break JNSR then we may see 5425 because after Such type of tug of war Nifty generally does not stop between just 40-50..at least 100 points falls had seen many times... Let us see…
Thanks a Lot Mynac :)
so now kumar sir press hard the accelator so that jnsar triggers ok
Kumar sir,, am a silent observer these days... may I request you to discuss your great system here..
thanks in advance
Dear Mynac!
Ur view matches with Hawala rates & huge open intt in 5400 puts, thanx a lot for clear direction. Where is our dear FIRE, no msg from him?
403.70(channel support) 402.9 401.8 supports intra hrly for copper
Dear Sahilraj!
My strongest system is my temperamant. U know i am a portfolio advisor but most of the times i enjoy here with everyone. No extraordianory efforts needed for trading, just doing simply with help of TT with full conviction.
everything is in dn trend only nifty holding i dont know till when :)
Dear Kumar,
I have not kept such type of any records but have seen it many times..Even when we think so that now.. so & so is good support here…so it will stop here ..but..NO.. it does not stop…& it proves more N more that this JNSR figure has very huge importance
Otherwise it is not just co incidence that each N every
time,when Nifty comes up to JNSR we witness tug of war :)
gayoooooooo
Hero honda among top losers.... he he he
enjoying profits
this is e leg of nifty which can end near 5400. (DIAMOND SHAPED DIAMETIRC)
after that a rally or sideways between 5400-5500 for 2-3 days before big fall.
that is what i am expecting now.
the party Begins
JNSAR is triggered so time to short?
No Powertrade....Its start...Party abhi baaki hai:)
yes SAM
Going long on Banknifty at 10800 with stops at 10720 - target 11300
Thanks Cooldent
100-120 pts cut coming
For the system of Jnsar HATS OFF to Ilango Sir:) Cheers
L4 5520 below breakout 5495
Dear PT,
:) Now first it shall threaten weak bears..it shall come
up to 5530 or probably even shall cross it 2-3 times,&
swould stay above it for a while..This is also normal practice too..
Kumar Sir :)
I hope it is not a Whipsaw !!?? BNF is not falling.
Reversed to shorts at 5524... Intra SL 5545 right?
In Jodhpur they say
Na Aaa rey
Na Jaa reyo
Khadey Khadey Muskra reyo
Nifty channel support in daily chart at 5518, however broken down rising channel in hourly chart.
-stockgrp
still put sellers are more than buyers :( at 5400/5500 strike
whipsaw hai.
Buy 5300 put and 5700 ce in equal quantity - whatever move is going to come now will be fast - either wave 3 or wave c
RIL alone is competent to compell to have some sleeping pills to Bulls But Bank Nifty also have another good brand so lets see how these both unfold EOD:)
My 2nd trade with JNSAR also turning whipsaw? :(
RICHARDSDIAZ
What call you have given to HNIs, FIIs 4 today?
Kumar
which emails from Fire?
could i also have them.
learningew@gmail.com
raviji trade with less lots till u get conviction in the system sooner all these whipsaws will will be covered in one good trade
@Mynac
Me too think so :)
i am light on my positions :)taking break enjoying goa rains Dineshwa :)
Dear Kumar,
& intraday Yahoo charts are also suggesting some pull
back... but .. and.. we know it,that the players like you,
shall grab this opportunity to go short at further much
higher levels :)
waiting with lots of cash to deploy at lower levels
@ Kumar Sir
Is there any specific SL system you follow or is it
TT Table only ?
Please enlighten.
Thanks.
Thanks Richard, reduced the quantity.
Dear Mynac!
Ya, i am ready with tools:)
Dear Manish!
Sorry, u r knocking wrong door...i have no email from him. Mr. Prabhat was talking about his mail so ask him pls.
Mr. Prabhat
could u send those emails learningew@gmail.com
kumar
thanks
Llango sir,
is 3rd leg started in hero honda?
I am trying to pick up 3rd downleg of stocks.
picked well for L&T, Tata motors and made huge gains.
Is that same started in hero honda? sorry to ask stock specific bu soemtimes u tell little bit.
Dear PT,
generally what happens in such type of circumstances that
patient & hopeful intra Bulls wait for price to come up
to their desire level,to square off.But when or if
after 2.30- 3 PM it does not come there then,they
starts to liquidate their positions in frustration to minimize their intra loss,&
party begins for bears.. These are just observations,
but ready with intra S/L too :)because we can not
predict very correctly ,what's in Market's mind ?
@Manish: Fire sir does not post them everyday. He posts it only when he finds an interesting event unfolding. Kindly subscribe to the niftygroup which master has created. You will find all mails there.
Dear BNS!
As a medical practitioner i always believe that i can not treat all patients on behalf of a particular test. Sometimes i needed MRI, X-ray, sometimes blood tests, pulse, heart rate and sometimes other things too. So not on single thing i depend, i combine all things & then try to conclude:)
currently mkt supported on TL from 25th may...
NIfty again poised at 5520. Though this might not be a techincal level to judge anything, I feel in case it breaks 5520, then say hello to 5490.
Various possibilities in present market -
1. Bank Nifty already completed wave 2 up on 1 st June - wave count shows 5 waves down after that - but the problem is there was a gap down which doesnt give wave clarity
2. Bank Nifty is about to start wave 3 of wave c
3. Fibonacci time zones indicate that high was already made on 3rd June
4. Trendlines were retested and rejected for NIFTY
5. Infosys retesting neckline - next move should be powerful and in the downward direction for a target of 2300
6. CNX-IT should follow and break its neckline in the process at 6480
7. Tata Steel also looks ready to resume its decline after re-testing neckline.
After all these studies I have no idea where markets are going so bought 5300 pe at 20 rs and 5600 ce at 56 with equal investments
Upper side, if nifty crosses 5535, then again say hello to 5555-60 levels.
@saibhakt sir - have a look at icici bank - possible wave 3 of wave 3 in progress now
vanquish, exactly all these in my minds.
but stock specific longs and shorts are rewarding now days.
market for 4-5 days may be moving in 5400-5540 kind of zone and range contracting.
Dear Prabhat said ..
Upper side, if nifty crosses 5535, then again say hello
to 5555-60 levels.
And if Bears are powerful enough then they shall
show new low up to 2.15 PM.
This is also one of the observation..
That the upper hand party always try to dictate market
first as per their wish to show their supremacy. :)
@ Kumar Sir
Thanks for reply.
My trading is ok till I move stoploss to cost and focus on
exits. But confuse myself after part booking :) :(
Dear Prabhat!
Great...Hello Hello on both sides:)
Prabhat - 5520 is very much technical level. cam L4 intra shourt breakout + 78% fibo level from high :) instead watching indicators keep some impt. levels in mind will give us some quick profit.
thing is - quick action on important decision point and not making important decision fast. what say?? :) (hope as much as i confused :D :) )
@Mynac
Yesterdays move was laboured one that makes me think that today after 2.30 the real carnage awaits
Dear Prabhat,
whether these observations are useful or not don't know
but,in such a conditions these Hrly ORB's are important.
why ??? because market is teaching these unwritten
rules to us.Basically we small players can not sit
tight due lack of knowledge of these type behaviors.
Master,
This time consuming manner of the waves in any direction, be it up or down, is forcing me think about a possibility.
Is it possible that this is an "Expanding Triangle" forming, with the first leg of "d" completed at 5570, and another upmove towards 5605 is pending which would finish "d"? Then "e" would make a new low below 5480 finishing this correction? In that case, bulls or bears, everyone can get trapped. Just a thought.
Sujata mam,,
Nice matching levels
brijsolution said...
L4 5520 below breakout 5495
June 8, 2011 1:16 PM
New Post Done.
18351 sensex low for yesterday.
@Sujatha Ma'm: The 5520 level which I came up was by watching the behaviour of mkt at these levels.
@Mynac: Nifty as of now looks bearish for the day until it is restrained within the 20 & 50 RSI levels. Also, this fall today from 5550 levels is not with much volumes to give it a consideration. Only when nifty closes below 5480, will I leave aside volumes & give more weightage to levels.
Mon - profits on puts.
Tue - profits on calls.
today - profits on puts.
Thu - profit on calls ??
Any overnight position causes loss for the next day. So positions taken for the day must be squared off by the evening unless he/she is a big player like Kumar sir who has milked the mkts with the art of hedging. As I said before,
he has the "edge of the hedge" :)
Dear brijsolution
have u backtested camarilla levels on past data
how is it performance?
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