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:
Door closed - reposting
Sensex trading below 18219 is -ve below that 18100/80/18016. Calculate nifty now :)
June 10, 2011 2:03 PM
Ilango sir this week it took lots of nerves with those whipsaws following JNSAR but did it with determination and happy now, Phew.
Patience and discipline can't be grasped by reading books but is nurtured with experience under guidance of gurus :-)
covered small qty near 5560.
Dear Sam,
From intra charts,now if it shall not sustain above 5470,
then it's next stop would be 5450 i.e.at present NF low.
And if it shall cross 5470 then 5481 would be next
hurdle i.e. HLEMA at present,so you may take your
decision accordingly.
Covered Short at 5462.. will sell more in rallies
good afternoon all,
aggressive traders can go long above 5476 with sl 5360..target 5505, 5520.
(please do ur own calculation before executing this trade)
धन्यवाद मायन्याक
ant - open your eyes please.. hope 5460??? :) :D
Ravii - yeah very good dancer In "mahadheera" also son/father pair done very well. hope his son also a good dancer it seems
I booked profit in Nifty future at 5455 which i sold at 5540 yesterday & booked loss in my 5600 call at 30. Now will try to short naked Nifty in rally or near closing:)
typo error...sl is 5460 not 5360
Titan, kya ghoda hai, running,running.
Dr. Kumar - remove the "ventilation of nifty 5458-5472" automatically pulse will down :) :)
GA ilango sir, drsir, kumarsir, fire, sujatha and all jnfamily members
Sreyo your buy level is triggered.
Dear Kumar,
Nothing but following own thumb rule of 100 points
target...which comes to 5430. so if shall not come today
then shall wait for tomorrow.because most of the time,
have witnessed it:)Probably it may not come today,means
at present idle.
Ilango,
If you feel this msg is out of place, please take the
liberty to delete them.
SUPPORT THE JAN LOKPAL
----------------------
Forwarded Email.......
Dear friends across India,
Our pressure is working -- last week Ministers tried to remove the Prime Minister, Judiciary and sitting MPs from the Lokpal. But we sent 30,000 messages, and they agreed to a conditional inclusion of the PM. Now they say they will bring all our messages to the drafting committee next week. Let's ramp up the pressure and demand MPs, Judges, Civil Servants, CBI and CVC are all under its jurisdiction. Send a message now!
Last week the government threatened to remove the Prime Minister from Jan Lokpal jurisdiction, and talks broke down. But then we sent 30,000 messages in a week, and they agreed to his conditional inclusion! Now we have to make sure MPs, Judges, Civil Servants, CBI and CVC are all under the bill.
Our voices are being heard -- Government officials just told us that they are collating all of our messages and bringing them to the drafting committee meeting on June 15th. If we can ramp up the number of messages calling for a strong Lokpal now -- we could overwhelm the meeting and force the government to bend.
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Last week the government tried to utterly weaken Jan Lokpal by calling to remove its authority over the Prime Minister, Judiciary, and all sitting Members of Parliament. They have already used dirty tactics to stall the process, and we knew those in power would try to stop the inclusion of high level officials -- it is a threat to those who are used to 42 years of impunity.
But the government also knows that the whole of India is watching and that this is the people's Bill. Last week we flooded them with messages and showed them that we all know this is a unique opportunity to fight corruption across the board, and we will not settle for anything less than a bill that includes everyone.
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People power launched the Lokpal, and our national movement has catapulted it from the annals of history to a fast-tracked drafting committee. But a strong Lokpal is a radical challenge to the status quo. And it is going to take all of us, week by week to stand up together and block every attempt to break or water it down. Let’s stay strong now, while our pressure is urgently needed, and get the law that all Indians want.
With hope,
Saloni, David, Ricken, Ben, Shibayan, and the rest of the Avaaz team
Dear Sujatha!
It will fall automatically, no buyers now. Every support is breaking one by one, 5488 is 15 DSMA and close below it will be dangerous for Bulls. I am crying since morning but U r urself an insitute so not taking me seriously:
KUMAR TECHNICALS said...
Wednesday Insider day, Thursday lower high lower low with doji & friday previous low broken again. Now below 5479.85 which is current week's low, Bulls panic button will be press.
June 10, 2011 11:46 AM
Click to send an urgent message directly to the inboxes of Kapil, Pranab, Chidambaram, Moily, Khurshid, PM and Sonia Gandhi:
http://www.avaaz.org/en/save_jan_lokpal_1/?vl
yes SAM.
we might see 5420 testing today after touching either 5480-5485
the key then is is wave c going to start or wave 3 resumes - at 5420 buy 5600 ce and 5200 pe because either way move will be quick
if anybody has traded..please keep strict sl at 5460.
food inflation at a 2- month high of 9.01 %
@Nifty Sent it.
@Sreyo I have not traded but watching your levels closely.
@Kumar Sir
Ye Dil Mange More :)
@SAM...ok..thanx..
Dear Powertrade!
Sabra ka fal bahut meetha hota hai...just wait for next week. DMK is looking in do or die mood due to MAARAN issue.
Dear Nifty!
Me also sent & will forward to all of my friends, thanx for giving nice opportunity of participation.
Ilango sir, the above wave count says C still left, so where it is sensible to book shorts.Is it possible that C fails and we are in larger 3rd????Just trying to learn.
Thanks
oh Sujata mam, I see with my open heart ^-^
BTW 5200-5337 should come in this mnth if it closes below 5473 NS, my tukka view.
Sir,
The possibilty of "pink b" over and start of pink c will be prevalent if Nifty closes above the week Lema. Am I right sir? Also the Month Lema is also providing support as of now!
Dear satheesh!
Hats off to u for ur inverse cup & handle pattern, Nifty is unable to bear the load of ur that handle:)
Thanks Kumar sir
Dear San!
Nifty broken 20DSMA at 5483, i remember u gave a chart on basis of this MA so what is ur opinion now. Kindly give if possible bcoz that may help all of us.
5435-5450 is a good support zone. WLEMA, MLEMA, 61.8% retracement, EW targets (5445/5449) and previous congestion zone. A break below this should confirm the victory of the bears led by Kumarji. Otherwise bulls will still hope, like me. :D
please edit sl to 5479 now..
OMGGGGGGGGGG
Bear Enjoyed
Me poor Bull also got something for weekend :D
Bye Friends Have a Nice Happy weekend
Bulls may dream 5503,if Nifty shall hold 5480,let us see.
Ilango sir, i hope we are carrying shorts??
@ Bizagra,
"5445 & 5455" are protected as of now and that leaves both possibilities intact.
@Kumar Sir Short at the end of session?
A close above Dlema & Wlema would keep bull hope's afresh!!
Dear FIRE!
5475-5450 area was given as buy in my blog with stop loss of 5435 so i covered most of my shorts at 5455 future, but greedy so started selling again now at 5480 spot. My feeling is that next week this support area will go away & 5400-5410 will be on radar. Below 5488 not good for bulls so Lets see that how it unfolds next week:)
चला मित्रानो मारतो कल्टी.
भेटूया monday ला
बाय
Bank nifty new short at 10,720 with stops at 10,740 - target 10,510
Can anybody spot break down from symmetrical triangel in JSW STEEL??
Bye all....hope for breakout in next week at least :)
Dear Kumar,
"but greedy so started selling again now at 5480 spot."
Already preparing for gap down opening ? :)
closing average should be below 5480
Because intra charts are favoring your move :)
sorry 5488
Bye all carrying short in nifty..
even am preparing for a gap down opening even though its very rare that monday's generally have gap downs -- wave 5 pending for both nifty and bank nifty
last minute dhoka for bulls...:-)
Hi Vanquish,
Your mail id please..
5485.19
bye JN traders... have a great weekend...
will be eagerly waiting for Ilango sir's fables over weekend.
@dkj - ellwave23@gmail.com
@ilango sir - could you please add me to the JN family mailing list
Dear Mynac!
Nifty & Bank Nifty rained money on me today so greed was natural, shorted lightly again. Have a nice weekend to all of you & take care of u & ur family too:)
if ilango sir approves I will post my blogspot link here which has no trading calls but just chart patterns - daily and weekly --
i dont regularly update it but if required I can spend 20 mins a day posting charts before trading session -
Dear vanquish,
If there is public profile,then also we can reach
there very easily.So if possible then will you please ?
Thanks.
@Kumar Sir
I think Bulls manage to close above 20 DMA. Will try to do an extensive weekend update on nifty.
Happy weekend to all.
Dear Kumar,intra addition of almost 22 lac O.I.in 5500 CE
i.e in %wise almost 50%,which is not a small one,so those who have written
must be too powerful,so not an easy task for bulls in any case.
So on Monday instead of these facts if Bulls shall try unnecessary
too hard to cross in a hurry then greater fall would be there is impression at present.Let us see.cause Market is always supreme.
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