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 ...
80 comments:
Thank you Sir. So let me see if i got it straight. Look for +ve/-ve divergence in the lower T/F with implications towards higher T/F and once lower T/F divergences get transmitted into higher T/Fs divergences than more juice in the trade :). Thank you master. Really grateful for your guidance.
Reposting
@prashant shah
Thanks for your excel file of OI Analysis. Could please tell me where do I find the “"OPTIONS" which appears on Security Warning above excel file ---in Excel 2007.
Regards,
Veer
Good morning sir and all :)
As usual some time pass from my side :D
Mothly gann level - 66.6% is 5032 (bull case i.e. from monthly low) next is 5067 (75%)
If we take it as bear case then 33.3% is 5032 (from monthly high)
Weekly gann - In bull case (from weekly low)150% is 5020 next is 5068 - 175%
In bear case - (from weekly high) 4898 12.8% atleast we have to get Is it possible within 2 days??
If JN biggies like DR/Satheesh leave the bull means "small bear" will appear :)
@Ilango
My understanding is that there are negative divergences
in the hourly trade....yet to reflect in the daily???
Am I on the right track???
If not, please shed some light on specific numbers to
review....thank you
4964-5037... 73 points
Retracement levels
38.2% - 5009
50% - 5000.5
61.8% - 4991
78.2% -4980
-ve div in hourly charts
5015.45 - Hawala
INFY HELP TO COVER OVER SOLD MARKET BUT TODAY IIP DATA
AND NIFTY IS NEAR TO 5035 IF ANY DATA POSITIVE CAN
TAKE TO 5070 OR BELWO 4960 EASILY (ANY VIEW)AS COAL&GAS
HAS MAJOR HEADWIND
@Veer,
It is near fx... click and enable it.
now below daily pivot
Master 1st sign of weakness would be below HHEma 5012-16
am i right
Infosys Charts Updated: CLICK HERE
sir My friend Nitin Potade told me about OI DATA lIVE upadate so i share with u and all friends hope its good... i paste my friends Analysis with live...PLEASE DOWNLOAD THE FILE OF OI DATA ANALYSIS OF NIFTY FOR THE MONTH OF OCTOBER'2011
http://www.4shared.com/document/CCFGmE8w/NIT_OI_ANALYSIS_OCT11.html
TAKE YOUR OWN DECISION.
ALL THE BEST.
PLEASE SHARE YOUR VIEWS & SUGGESTIONS FOR IMPROVEMENTS.
NITIN POTADE
MAHIM, MUMBAI......DAILY POSTING IS NOT REQUIRED. IT WILL GIVE AUTO SIGNAL ABOUT TREND OF NIFTY IN MARKET HOURS.
IT IS BASED ON REAL TIME DATA OF NIFTY OPTION WITH THE HELP OF WWW.NSEINDIA.COM ...it is very easy to operate..
1) connect to internet
2) open excel file
3) click on "OPTIONS"which appears on Security Warning above excel file.
4) click on "enable this contents"
After this, excel file will upload Open Interest Data of Nifty from www.nseindia.com and with the help of formulas set by me, it will give idea about trend of NIFTY.
TAKE YOUR OWN DECISION.. I AM STILL IN LEARNING STAGE. TAKE YOUR OWN DECISION.
ALL THE BEST.
PLEASE SHARE YOUR VIEWS & SUGGESTIONS FOR IMPROVEMENTS.
NITIN POTADE.......SIR MY FRIENDS NITIN also post in icharts.in... so i share with u and all friends ..thanxs
..
Now if stays above pivot 5026 can reach yesterday high
and if sustains below it then may be weakness
@ Sam,
I have not seen any -ve div in Hour charts till now.
@ amola jhaveri,
Once you notice OB in day, then look for -ve div in hour. Such a combination has validity. Similarly when Hour comes to OB, like yesterday, look for -ve div in 5-min. In downtrend, exactly opposite.
When you get -ve div in daily as well as in Hour, such a market could be shorted aggressively.
Finally whatever observations one may note, managing a trade based on stop loss; part booking, etc should never be abandoned. As in football, if you only have your eyes set on the goal, you will never be able to manage the "tackles" along the way. Though goals are relevant, the job at hand is the priority.
@veer which excel file can you give download link.
@ Parminder,
The first sign of weakness for the "Intraday player" is the close below Hour Pivot which is "5026" for 11.00AM close.
Sam,
its in Sir's yesterday EOD analysis
@Prabha
Still not able to get. Could pls send to me the file by highlighting the same. It will be helpful.
Regards,
Veer
Namaste Ilango sir and all,
Suja,
you talking about me at par with DR sir !!! oh!! I feel overwhelmed, flattered etc., etc., !!!
@prabha,
email i.d opgveeer@gmail.com
@Sam - watch future too weak below 5047/36/34/30 as per me :P gradually it may drag down
@Prabha
email i.d is opgveer@gmail.com
sir,
divergence wud be based on hourly close in indicators
like rsi macd. though not a very good divergence
setup, there is one in 9rsi hour, fmacd hour, very
slight in slow macd hour.
@Ilango
Could the first sign of a negative divergence be a
close below ORB low???.....could you guide as to
what other numbers to watch for a negative divergence?
@sam
You can see in yesterday's evening post in JN - by Prashat Shah
regards,
Veer
@Veer,
after downloading....it comes as Security warning.. Data connections have been disabled..and options... then press options.. u will get it... try again by downloading it...
GM Everybody
@Ilango sir rsi 9 showing -ve div on my ami charts.
@ashishag,
on hourly closing basis 5026 yesterday ist hour, close
5030 today. so we can take divergence is its based on
closing in macd 9 rsi.
its not a good divergence setup. best is when new high
is made for price and lower high for indicator.
@prabha
Thanks. I will try again at home.
Regards,
veer
Sir
Is it bulls trap till IIP numbers then after good fall??
New high in NF. A new high in spot now would really bring some -ve Div. And then there is the small matter of price confirmation. :P
@ashishag,
pls dont take any decision
giving weight to my divergence observation.
ask sir once. more than half divergence setups just
fail.
just a small question. why is everyone looking for a fall so desperately?
Thanks Veer its working. Have you got it working or not?
considering morning initial Big Volume trades @ 5015 &
then @ 5028,Nifty likely to and wants to rise further
up N up only is the current scenario as per my understanding.
Huge addition in 5000 PE & absolutely negligible writing
in 5100 CE is indicating the Bull's intentions.
Still long way to go,but if Nifty shall go up then
,would like to see tussle @ 5067 & on the down side
@ 5020.The O.I. addition in NF is suggesting further up side
There would be jerks in between during remaining trading
Hrs. but the picture is very much hopeful for Bulls at present.
Let us see.
sir i have a question .. u no how u upload in the morning those agressive trades level?? are those on the spot level or futures level??
@Sujatha,
5047 fut? is it because of 127% fib. retr. from 4970?
@santej. Spot
cooldent said...
just a small question. why is everyone looking for a fall so desperately?
CD: Good one :) i guess more the reason to be in longs.
All, pls wear ur bear coats but say mkt mkt go up...dat wat it may fall.
freinds bank nifty rallied 100 pts but nifty just 15 pts can any tell
is any thing wrong for bulls
read wat as when.
@sam
I may have to try at home. Here some restrictions are forbiding I think
Ilango sir, is it ok to ask the reason for the conservative short in the pre market view today?
Master,
Daily 5-D is @90. NF has made a new high, so -ve div. are abound. NS has made a Double Top type structure till now with -ve div. The whole rally did NOT retrace the last fall in a faster time. Considering all these, even if a rally comes now, wouldn't it be a very suspicious one? Just trying to organize my thoughts.
ilango sir,
which indicator one should look at for -ve divergence because many times one indicator is showing -ve divergence but other one is not showing any -ve in the JN file.
fire: any chance of making more dots there :)
The IIP ride begins
closed longs..phew
@ilango
Since weekly SAR at 5004 has hit a buy won't it be good to wait for atleast Friday to take any new positions.
I want to remain safe thats why I am asking this.
Thanks
mid bb in 30 min charts 5007 and lower bb: 4961.
@ Krishna,
I had two minds whether to put "Trade the levels; SL.4905" or "SEll @ 5025-35 with SL.5060". But the weekly reversal is not yet confirmed. So taken a chance there based on EW + Hour OB TA.
@ Fire,
KST Indicator chart was uploaded in this post @ 10.00AM. That is a "Stretched area". market may stretch further which is what it has done so far. It has to fall - either shallow or deep. We'll know soon. Real weakness would be below 4955-65.
Until then, we should keep pocketing some points.
@ashish,
At a minimum you are right. Or 4729-5045 was 5.ii and we start
5.iii.
@ Shivan gupta,
Each indicator has its own merits & drawbacks.
For OB, I rely more on 9-rsi.
For div, the more the merrier. As I stated earlier, the combination of a higher T/f OB or -ve div along with lower T/F -ve div has better chances.
ashish: these a-b-c legs..are they always equal?
thx AG.
@ CDG,
There are many ways to look at the market using the TT. It favours each with different degree depending on one's time range of trade.
An aggressive trader would look at higher T/f weakness coupled with lower T/f overboughtness to sell for small gains initially.
A conservative trader may hold onto his longs till a decisive close below 5DEma or a -ve div in day.
Dear AshishAg,
I don't understand the waves but,unless & until Bulls
are protecting that 5014-5019 area,where they bought up
heavily,in the morning bet.9.15 AM to 9.22 AM,Bears would remain impatient.
is my simple understanding.Hrly Hema is also 5023 at present so let us see.
H-JNSAR triggered long.
AR Rahman fans: enjoy this song from Rockstar
http://www.youtube.com/watch?v=n6mraYuSELU&noredirect=1
@aashish,
Agree. What is this Wave 4 then ? So complex.
Ilango sir..if this is retracement for 5740 to 4720..shouldnt it retrace more, similar to how we retraced from 5177 earlier(we fell 1000 points even there).
Is there a benchmark as to how much it usually should retrace?
currently retracement has been less than 38%
ashish: i am willin to accept 20 dma also with both hands :)
Ashish,
Of course every buyer is met with seller.. but who conquers and dominates? In today’s scenario, prices have moved up sharply means buyers dominated sellers.. Simple!
To all,
It’s apparent that many of us are still not coming out from bearish mindset.. it’s dangerous to wealth especially today!!
Dear AshishAg,
No absolutely not.You are 100% correct.
My understand or you may say "plane thinking" is that
everyday/hr.cues if there are any then as per
circumstances either Byers or Sellers,used to use it as a
"Pickle"The inbuilt data "Normally" decides the strength
or weakness,either intra or otherwise,this my just
practical observation.
@ golfdude W4 to me looks like a complex correction..in this type of correction each section against the trend will sub divide in to 3 waves.and sections towards the trend will sub divide in to 5 waves.....and most important the final section of a complex correction will definately sub divide into 5 waves........
12.00Noon-Pivot: 5033
12.00Noon-HHEma: 5031.
A close below this is first sign of weakness.
Strength only above 5045.
Do not use the same tools in all situations. Learn to pick the right tool for each market.
@Prabhakar - no calculation but my "no" is correct watchout NF if breakout happens really i don't hv target but breakdown happens i hv target. After longg timeeeeeeeei done some GANN level for time pass but it's proving worth watching. i already posted here just watch out the levels.If i feel any decesive breakdown will happen will put the downside gann figures for you for look) NIFTY SPOT level
@ golfdude in most cases, when the markets exceeds the extreme of the last section,complex correction ends
aaj DRji kidhar hain....DRJI ko pesh kiya jaaye JN mein.
@Anyone
Any inverted H & S in the making in 5 / 15 minutes T/F?
veer
JNSAR is up and everybody wants to sell
A song for bears
http://www.youtube.com/watch?v=iwnCMv--L9Y
New Post Done.
@ Prabhakar - i believe i already told you - whether cam or fibo watever it is i will give 20-25 points extra floating price whether breakout or breakdown.
Ilango sir 12 noon closed below 5033 and 5031 now higher.What next ?
Prices are trading above
Pivot&R1
JNSAR
3DMA
5HEMA
Cama weekly H4
If 5045 is taken away, then we have new 10 day High.
Sir, can you give the wavecount of 5min chart?
Sir, previously you had mentioned that a triangle is preceeded by the next wave. IN 5min NF a trianlge is formed but an ascending triangle. Is it significant??
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