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 ...
53 comments:
There have been only 6 occasions in last 12 years when US markets have gapped up 3% or more - out of these 2 have been trend up days, 2 were trend down and the other 2 have been flattish.
Odds are high that at some point during the day we retrace down to at least NS 4870 and then go back up and close near highs of the day.
Open of today's type is very rare.. happening once every few years. And it happened because Nifty had a holiday yesterday. Needs to be traded carefully.
thanks for update
GM Everybody,
Big Volume trade in the opening @ 4908 & Now DHEMA 4907,
Interesting day ahead.
Sir can u update the falling wedge pattern and its breakout level.
this is only for people following JNSar if one is strictly following it u would have ended with profit even if one had not part booked as the entry would have @4974 0r 4950 approximately and we r currently @4915 the current JNSar so simply a minimum profit of 40 ponts if ONE STICKS to the BASICS instead of getting confused all values of Nifty Spot and so it has been advised to follow the prices
If Nifty wants to go further up N up from here then
would like to watch the fight @ 4930 MLEMA & 4957 WEMA.
Till then bye.
@Mynac GM can u provide vol.link for NF it doesnot work for me with all the with all the options I try
Dear Bhavan,
http://www.nseindia.com/ChartApp/install/charts/mainpageall1.jsp?Segment=OI&CDSymbol=S%26P%20CNX%20NIFTY
for today
Ilango sir, wht could be SAR for longs taken today??
Ilango Sir ,
JNSAR triggered at 4914 today , Ideal SL= 4894 ( 20 points )
But since Gap starts at 4879 , should we increase it further?
or stick to 20 points ?
Thanks Mynac
@Ilango
Nifty @ JNSAR so can a short be done with 20 points sl & if triggered sl then only do long.
As per my read, those without a long should be patient. This will go down to 4870-4875 area.
Looks Like all the shorts got covered in panic today and now the Real Game starts . . Will it be again 4780 today :)
@PT do I read 4780 or 4870?
No Bhavan its 4780 only :) :)
Now I think both bulls and bears are going to trap
me today. Just another of those days where nothing
goes right.
Nifty gap [on 30/9---3/10] 4879--4924.3. Gap upper territory 4924 could not be conquered sofar[today's high 4922.6] Equivalent sensex gap upper territory is at 16404. but today's high in sensex sofar is 16347. a cool 57 point difference. culprit SBI???????. So even if nifty fills the gap, watchout for sensex gap to be filled[if not, it may become good resistance]. This also has to be conquered, for upmove coninuance. Any flaw in the above opinion friends???
@Ilango
What could be the stop loss for longs???
Stopped out loss of 20 points
@pcsmitpra
Good Morning :)
@ilango sir & all
good mrning
My thinking is very simple and I have expressed the same in one voice.
Even my JNSAR is long from 4910NF from the open.
Everyone here knows how to manage their trades.
There is no confusion today.
If you feel channel/ gap is your problem, then wait till it is resolved.
If you feel this is the resistance, then sell.
If you feel, gap up is a sign of strength & any pull back is an opportunity to take Longs, then go Long.
If any weakness,it is likely to be below Month & week's open-4874.
Remember, I can not change your Karmic effect, unless you reciprocate.
@Ilango Sir
"Remember, I can not change your Karmic effect, unless you reciprocate"
Super Like :)
Me too, PT :)
Me three four and Five :)
:) :) :)
Me six seven eight nine ten
Karma and Dharma! :D Supercool Ilango sir!!
And thats a Century ----- :D :D
@Mynac
Is there any sign of 4800 put covering now looks like they are slowly covering ?????
Good morning sir n friends:
Ilango sir one signal which i ignored on fri: 4800 put was 178 on thu close and on fri: even when nifty was down 20 points at EOD, 4800 option price was 163-165.
also, on friday: only BN was going down and nifty not so much. This trap was also similar before the day rate hike. BN was going up and nifty was flat to little negative.
Today "can" be a good day to go long whenever d correction ends today due to the following:
1. nifty day lead indicator will turn up from 20, hour lead indicator is also turning up.
PT: let me put it As like on behalf of all d 5000 plus silent readers here :)
@ PT,
The OI table has been having more of "Puts writing" & less of "Calls writing". It remains so today too. Ofcourse, the EOD should validate this.
This was one of the factor besides the sluggish prices was bugging me last 2-3 days. SUch are the subtle clues.
@Ram Charan
:)
@Ilango Sir,
Thanks a Lot :)
@PT b watchful if on sht side as all the major stocks r reverting from their lows and that too significantly also RIL might not break todays low for sometime and coming back fro previous months Hawala @4840
This might b the price withholding till europe opens
@Bhavan
4977 Spot is all my China Wall for shorts :)
Infra stocks may rec. a boost as LIC permitted to infuse additional 300000cr INR
@ PT - 4937/41/54/68 calling??? agree with ur view that 2 to 3% rise in bear market is for shorting opportunity but wait and short @ higher levels or hedging is the only way :P i know u r 100% better than me :D
take care
retracement from 4751 to 4921:
retracement points nifty levels
23.6 % - 40.12 4680.88
38%- 64.6 4856.4
50%- 85 4836
61.8%- 105.06 4815.94
@Sujatha
Good Joke :) Me only beginner :)
Thanks for the Levels :)
Well those who are not doing anything like me, can at least get some motivation and inspiration.
http://news.stanford.edu/news/2005/june15/jobs-061505.html
Moodey's downgraded 9 banks in Portugal.
SR GA
What Sensex Res. N support levels?
Power trade,
What is the logic behind your question of “ Will it be again 4780 today “ ??
Namaste Ilango sir and all,
If Nifty closes today near 4900 levels then it would be a hanging man/hammer in weekly charts!!
http://www.investopedia.com/terms/h/hangingman.asp#axzz1a4iAB3Zq
New Post Done.
Satheesh
H/M Hammer is bearish reversal pattern and
candle has significance if seen at the end of an uptrend
I think you must check Hammer also :D
@Sateesh @DR Sir,
Probable implcations please ????
PT it will be Hammer a bullish reversal candle
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