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...
64 comments:
I just want to market to hold today to exit my mutual funds,
ulip etc. on today's NAV.
I switched to equity fund 2-3 days back. Now we are trading below 5350 consistently, looks
bearish to me.
http://aar-vee.blogspot.com/2011/06/interesting-charts-nifty.html#more
booked profits in nf intra longs at 5300 nf
looks to me as if im the only one in the bull camp.
@Ankit I also will be in bull camp after closing above 5350
Ankit dont worry
but keep your feet firm on break paddle (i.e SL) :D
this month expiry is on last day
and some body told LC never hits mkts after 15th of the month
Google/statistical experts may spend sometime
@sam hope it comes sooner than later...difficult to hold
your ground for too long against kumar sir & fire combined :)
@ DR, dont think there is any such rule on an upper
circuit though :p :)
@ Fire,
Really interesting charts!! bears ahead!!!
Dear DR!
No need of Google, my system showing that last lower circuit was on 22.01.2008)
Yes Kumar Sir Confirmed ... with my charts.. low was 4448.50.
Dear FIRE!
I am a layman so could not interpret well but when i tried ur attention on this formation last time, U thrown away me temporarily from ur camp. Thanx again for leading bear camp, just give a push towards 5177 bcoz that will open the gate for 4782:)
please help !
when you are plotting hourly charts - how are the time frames since our markets start at 9.15 and end at 15.30 - the last bar is not hourly but only 15 mins
google finance plots 30 mins charts starting at 9 --
@Vanquish ... I also having same Q.. as in AMibroker my start time for market is 9.15 so it shows hourly charts .. at 10.15, 11.15 etc.
I want to know what kumar sir follows?
I think Ilango sir's charts are starting at 9 am - sir please provide your thoughts on this issue
all senior members - would request you to share your thoughts !
@vanquish
if u have a real time vendor, thier hourly bars starts at
9:15-9:30
9:30 - 10:30
so on ...
or 9:15 -10:00
10:00 - 11:00
so on..i follow second one same as illango's blog...
i dont have a real time vendor...
Dear SAM & Vanquish!
I use 3 systems, one give me real picture bcoz it takes 1st candle from 9.15 to 10 am and last candle from 3 to 4 pm. So i mostly rely upon that bcoz it looks practical:)
I could never forget Black Monday Jan 22 '08
As far as I have analysed LC comes after US market expiry i.e 3rd Saturday.
Once expiry is over they pull out the plug.
@Vanquish
in Data base settings in ami start trading hours is 9 00 & End trading hours 16 00 hrs I suppose this solve the problem
for ex : in my hourly charts it is showing the action over the last 8 hours is showing as a bear flag but in Ilango sir's charts it is showing as a triangle
does this mean hourly charts are no more reliable because of the uneven time split or should we use 63 mins instead of hourly charts going forward (to split time equally between 9.15 - 15.30)
A typical Butterfly pattern in 5min NF chart
https://picasaweb.google.com/103973773349621758823/Jun32011?authkey=Gv1sRgCNvKuMOS776KqQE#5620946378300884018
Sensex & Nifty both 8 points UP :)
@ kumar sir - but there is no price action between 3.30 and 4 pm so dont you think the price + time action might not be accurately captured.
Nifty consistently trading below mid BB
@ Vanquish
Are you using realtime data? Then can ask your vendor
to help in necessary time settings.
If not using realtime data, then please mention data type
and its timeframe(base interval).
@satheesh
what it implies..??
Successful 13 trade so far
Dear Vanquish!
I dont rely upon time action too much & if it is then it will not change too much by 30 minutes difference. I dont take trade on single pattern, try to mingle so many things then try to enter with risk reward ratio:)
@BNS - am using a real time vendor itself - i can even adjust my time settings in amibroker -
the real question is while plotting trendlines the lows and highs for an hour will be different based on whether you start at 9 or 9.15 am. if you start at 9.15 am your last candle for the day is only 15 mins - and these trendlines can be skewed.
@kumar sir - hope you are having a look at bank nifty !
Wow !! Bhushan. Bravo. Me still holding the short
initiated at 5350.
Satheesh. Good Job. What is the inference. is it a bearish one or bullish. any target?
@ Anil,
It is a Bearish pattern with i target at C and next target just above A. It is valid only for intraday as it is in 5min TF.
@ Satheesh,
Very good and timely.
@ Vanquish,
I have been following the hour this way(9.15 to 10.00; 10.00 to 11.00; 3.00 to 3.30) for many years and it has not affected at all the TA observations. The most important factor is consistency, whatever you may choose.
Thanks Arvee for the nice work you have done on your
blog.
will short nf now for intraday if 5285 nf breaks .
Thanks Ilango sir,
Butterfly initial target achieved!!
https://picasaweb.google.com/103973773349621758823/Jun32011?authkey=Gv1sRgCNvKuMOS776KqQE#5620951047386583666
Dear Vanquish!
Not watching only, trading too....i completed 8 trades in each account so think what it mean in multiple accounts. Bank Nifty is trader's darling:)
Ilango sir - Thanks a lot - I guess I will stick to the current time frame i am using since as per your advice these ranges dont have much impact on more important TA observations
Thanks everyone for their inputs !
@all :i just realized that amibroker is a charting software. Is it available for free. Do I get RT data too. I use IIFL TTadv.
Has anyone noticed the fast fall set up emerging in the intraday charts...?
Ohh.. yes Ilango sir, a perfect fast fall set up..
NS should keep below 5290 ideally. SL may be 5295.
Satheesh. nice. In the butterfly chart, D is 161.8% of BC [typo error]. just chekup. or am i wrong.
@bizagra: what is a fast fall setup?
@Vishal Amibroker is not free... and realtime data also costs per month charge.
@Prentice..check the link http://nsetracker.blogspot.com/...
see 13min ema line and 200min ema line.13min ema went near 200min ema and moved down..
Ilango Sir,
Please let us know the Moving average and TF of the fast fall setup? I was failing most times.
@ Prentice,
I have uploaded the pattern for you.
Short term averages move towards a medium/ long average and turn down without breaching them, indicating underlying weakness.
Prentice, sir has uploaded the fast fall setup chart at the top.
ok! thats gr8. Now that all you seniors are using, it must be a worthy buy isn't sam? How about motive wave does any1 use it?
Thank you Ilango Sir.
ICICI Bank showing weakness again - this is the one to watch out for which will lead bank nifty downwards
@ Badri,
yes it is typo!!! it is 161.8% of BC
5270 very imp to break
Thanks Ilango Sir for fast sell update.
Is it possibleto estimate the extent of fall?
Does price stay down after fast fall or rebounds?
What triggers the fall,once set up is in place??
sir,
can we hold our fresh short after fast fall set up?
New Post Done.
Ilango Sir,
Is fast fall/rise set up valid for EOD charts as well??
If yes then what EMA`s one should look for...??
TT
@ vanquish,
Icici is showing weakness and a close below yesterday's low would lead to real weakness.
https://picasaweb.google.com/103973773349621758823/Jun32011?authkey=Gv1sRgCNvKuMOS776KqQE#5620959207457513698
thanks a ton sir, for d visual representation. :)
H&S in hourly chart
shorted nf at 5284 for intraday 15 points
booked profits in intra shorts of nf at 5269
Thanks Illango Sir,
I bow to your knowledge. Will never forget fast fall setup.
Thanks again
VIX is not rising today even when markets go in red
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