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...
72 comments:
@ Manojag,
It is possible. Price, for a reversal, should clear 5521(Day's high & Pivot) and then break past 5540(Channel res & Yesterday's high).
Only a close above 5542 would boost the confidence of bulls to take it higher.
This is an ideal scenario and reality could be different.
Dear FIRE!
Its given by Angel, when u will confirm H&S then real party will be start & this time i will go to Gujrat...there scotch is available in cold drinx bottle & PT must be having that:)
Reposting
@sir, if this larger correction
A- 6339 TO 5178 3 Wave
B- 5178 to 5944 3 wave
then C should be 3 wave or 5 wave?
Hi Fire,
If it is in bloomberg then it is better to reverse
position.or the shorts have to be hedged
Regards
Anurag
@ Rahul,
"C" could be 3 or 5 waves.
Thank you sir.
Good afternoon Ilango sir and all,
An Inverted cup with handle pattern in 5min NF. San can you give the validity of this pattern?
https://picasaweb.google.com/103973773349621758823/Jun32011?authkey=Gv1sRgCNvKuMOS776KqQE#5616479256701191986
Hello Nifty Future ji,
@Kumarji,
Then this Gujrat party has to be postponed indefinitely as accepting that formation as a H&S is very problematic for me. :)
@Anurag,
LOL
@Rahul,
Just expanding Master's view (learnt from him only) -
In Triangle, C is of 3 waves.
In any other correction, C is of 5 waves.
@Mynac: You did not reply to my query. Please reply
Else I feel lonely here since I find you are the closest
to my way of thinking amongst the hungry experts like
Kumar Sir.
Hi..Satheesh,
Bulls are looking for the "Cup& Handle" bottoming @ 5480 or 5445.
Now your chart shows a potential "Bearish Cup & Handle" in 5 min chart.
It will get negated if Nifty moves past 5540.
anybody??? Titan.
Ilango sir, sud we keep SAR as 5521 04 5542 now???
Dear FIRE!
I am also ready to forget it if u will close Nifty above 5610-20 range or visit above 5650, till then i am dreaming everyday like MUNGERI LAL:)
Dear FIRE!
Do not use hungry word, after viewing this i alwaz become hungry so going to have some sancks immediately:)
@Kumar Sir,
Any time You are Always Welcome ---- Liquor here flows more than Water .. :)
Good afternoon! I see an inverse H & S in daily chart, if no more lows comes. :)
Hi Chandra
Can you please post the levels for today.
Thanks in advance
John
Dear FIRE!
Very sorry, At 2nd place i want to mention name of Prabhat but u r dominated nowadays so wrongly wrote urs.
Dear PT!
Thanx for invitation so i will come in july after completing my mission:)
@ Kumar Sir
Can you guide from where to see Vix values live, Does Vix above 20 means Downtrend abou to start.
Kindly Guide about Vix.
@Fire sir thanks learning many things slowly.
Thanks for your views sir. I will remember the point of negation. It will also be the breakout point which is shown by San's triangle chart
Mishraji - you too with H&S?? hehe be ready DR-ji is coming with a knife to "cut our head and shoulders" :)
someone calling with me with favourite drink, who is
that and where to come?
Sujatha :):) cute!!! My daughter speaks the same way as you have written!!
A small risk buy above 5500 with sl below day low as in all time frame mkt is over sold.
@KUMAR SIR
Sure --- You me and cooldent :)
Inspite of nifty in Red, since morning. VIx too
negative,not good for bears...
Dear nagendra!
My system already gives me live rates of VIX but somebody gave link of VIX so u can see there. 19.50 is big resistance so above 20 it may be devastating for bulls.
http://www.google.com/finance?q=NSE:INDIAVIX
I have bought tatamotors future at 1017.
Please suggest what to do with this future.
Any scope of upside Or what should be the SL.
@rahul - here is a chart of the triangle - i would go short with stops at 5510
http://imageshack.us/photo/my-images/542/niftytriangle.png/
@ PT
Liquor here flows more than Water ...???
complain it to Modi....
humra kya hoga? paani ki jagah madira?
I think your plan to visit Bahamaas will be ok.....
vix live is always available on nse site
sir
downward momentum missing. in event of rally
starting here jnsar longs at 5530 or earlier??
@Rahul ..5000 spot or futs
watch out for 10,675 on bank nifty -- below that fall will accelerate --
@IT
@Sanjay bhai
In gujarat and that too in baroda it does ... an the best of malts --- Every ones invited :)
@jayant singh, spot
hahahhah
license hote hai logon ke liquor ke liye
but 20 tarik tak baroda main bhi nahi mil rahi hai due to anna hazare
but hteek hai chal jata hai
@vanquish, only consern is volume is low at break down & some +ve divergences.
@Chirax
Shivrajpur hai na :)
Hello Tharad Cricket,
sir, TT update 1pm....
thanks for the info main baroda naya aay ahun
Nielsen subhanpura main hun
VIX is sustaining above its pivot of 18.46, above 18.82 it will start giving pain to bulls. Nifty is safe only above 5516 5DEMA & 5525 5WEMA so watch those levels closely, remember Bank Nifty is making new low again n again today.
@ rahul - i do agree with you +ve divergences in stochs , cci
thats y stops are so close -
dont worry about markets doing nothing - its taking a breather testing the trendline multiple times before the next breakdown - which might come in a couple of hours
Dear Prabhat,
Was away from market activity, so sorry for late reply, It shall be good strategy, which needs lot of patience. Yesterday when Nifty couldn't go or sustain above 5543, itself was the confirmation for further fall. The moot point here is only, if it shall go up to 5430 then, whether it shall get any strong support there or not..? Disclosure: I am also short with 5543 as S/L, probably would part book around 5430 if it shall go there today & shall not witness any momentum in the fall.
What ever position we have it should be heaged.
NF June remains in slight discount throughout...clearly indicates larger trend remains bearish... r
Nifty - 5479 broken
Bank nifty - 10675 broken
Hope for closing below 5450 now :)
Intra day 20lac+ addition in NF O.I. not, an easy task ahead for Bulls. From addition it looks, that extreme good news, requires for turn around.At present,it lacks but market is always supreme so S/L must be there,In case of any long/short position.
Sujatha,
Cupla irunthu tea kotta aarambichachu!!! :)
http://www.youtube.com/watch?v=DC5iMAiwOJo
Hope against hope is not good....all stop loss triggered of Bulls. Main Culprit is Bank Nifty today....so what to do now:)
@saibhakth sir - watch out infosys might be starting wave 5 anytime soon
tata steel likely to start wave 3 quickly as well - weekly close below H&S neckline most likely going to happen - good short candidate
Vanquish how much down tgt move u see to part book?
hello kumar sir, sorry again wasn't available
ystrd also to talk with u, my bad.
@ant - i am playing the wave 3 down for positional shorts - my current positions are 5300 pe with capital hedged with 5600 ce along with icici bank shorts at 1048
target might be ambitious - but if wave 3 is playing out (confirmation only with break of 5328) is 4756
Satheesh :) :) அது கொட்டுà®®்னு தெà®°ியுà®®். அதான் சாப்பாடு போட போயிட்டேன். நானுà®®் சாப்பிட்டாச்சு. à®®ாà®®்பழ பச்சடி வேà®±ு எக்ஸ்ட்à®°ா Yep..:)
Kumar Sir
Happy :D
Nifty Singing
http://www.youtube.com/watch?v=QHT28UX8i_I
very nice to see Dinesh-bhai again. we love u very much
Kumar Sir is it time to cover shorts?
Dear vanquish,
(confirmation only with break of 5328)
Probably in next week we may get the correct answer.
Huge 19 lac addition in 5500 CE suggesting more fall in
coming days,because now Nifty has gone slightly far
away from 5500.It is indicating sellers supremacy at present
and probably the real fall if there shall be any then
would come when Bulls shall start to square off their positions.
Ya DR!
Khush rahna to apni aadat me hai but aaj Very happy, booked 50-60% profit in all my clients accounts. Bahut dino baad har a/c me joro se patte bane hain, thanx for ur morning wishes.
@MiNifty,
Today levels posted here under pre-mkt view posts. Pls refer.
Chandra
Dear SAM!
VIX day's high, below 5555 another bear attack will come:)
bank nifty shorts taken at 10815 yesterday -- part booking now and the rest hold with sl at upper trendline of falling channel
@mynac - very true - only problem for bears is Ilango's sir wave count where wave the ferocious wave c might have already started at 5450-5460
DR-ji - nifty should dance like this -
http://www.youtube.com/watch?v=3Q40NVzXhOw
Fire - The same candle now :) hope u remember my last month's mail
New Post Done.
Sujatha madam,
i want like this :)
http://www.youtube.com/watch?v=dkRy0ntFeDE
SIR is infosys a good buy at this price
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