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 ...
45 comments:
@San GM
"w"means we star at high go down come somewhere mid and again reach at the start point? or please post where we can get a better understanding
@ Bhavan - missed one no. - 17191..if sustains here 17K to 80 levels then another 100 points is nothing for sensex so that nifty may hit 5168??? but wishful thinking is 17K should not hold :D and mynac's view should "come in play"
@ Prabha - chumma thamasu...avvvvvvvvvvv
@Prabakar yes you may be write i m still learning
Remember 5150-5170 market made a double top,
and 4700-4750 made a double bottom.
I believe we will kiss 5150-5170 and go down
at least 100-150 points and then rally back 5300
People are talking about 5500, which should not happen
any time for next six months. We will trade for at least
3 months below 4500. Hoping to touch 3500 (
Long term value) may be for a hour/day.
Dear Ilango Sir & Blogmates,
OI Update at 10:15 PM
Thanks & Regards,
Sanjay Kr Jaiswal
@Sam,
CE 5300, 5400 and 5500 showing mild bearishness(call writing), but considering the price below Rs. 30, it may not worth to write it.
At the same time no unwinding seen as of now in 5100 & 5200 puts
@Bhavan
"W" stands for a double bottom formation which is bullish. In this case price has to take out 5170 levels. But One should take care as we are into serious resistance zone. 5170 - 5230 levels will be hard to crack.
thanks San
5087-5059 seems a place where bounce can materialize..probably after 11 am
@Ilango
The price action indicates a move towards day pivot...is
this a good point to create longs....thank you
From 4999 to 5136 rise, the fib ratio
23% -> 5103
38% -> 5083
50% -> 5067
Wave A - 5 wave impulse...
A.i = 4729-4828
A.ii = 4828-4744
A.iii = 4744-5045
A.iv = 5045-4964
A.v = 4964-5137
Wave B - 50% of Wave A ( 4934 ) ???
From the low of 4741, the 3 rallies have been of 181,184 and 171 points so far. (Obviously, we don't know if this last upmove has finished or not, yet). So all rallies about equal? What could be the inference if any?
CALL OI started Painting RED.. Bears saying "Dil mange more"
PUT OI(writing) not ready to give the green.
@Ilango
YOur views please!!!
Good Morning................
Anybody else think similarly -
With 5137 as SL, these are all shorting zones ?
GM
ilango sir, drsir, kumar sir, fire, sujatha and all jn family friends
5189 daily BB top hard to cross, last 2 times daily BB top not crossed and nifty sold off heavily
@Ilango
No Karmic effect today!!!:(:(:(
Indus Karmic effect works in ways that are beyond
the imagination of science and logic :)
jiggs the gold man - hehe me too watching that one 5191 89 ema?? any possibility silver to come down more??
@Jigs,
GM. A good observation. If first top touches the upper BB, but the second top fails to do so, then a fall towards the mean or lower BB is signaled, according to John Bollinger.
gm,
yes GD , but only for 38.2% which is around 5000.
golfdude said...
Anybody else think similarly -
Yes.if it shall stay below 5124 pivot,which is Big
volume point too.
The second simple thinking behind the same is also that
when Nfty is trading well.. well above JNSR and DHEMA,
there is at least room left for profit booking up to
present DHEMA which is at present 5058,which is normal practice
and Day/Hr short term indicators are /were also
favoring the intra correction.
@ Stock - Dracula kya kartha hai?? :P so raha hai?? krupya karo na
@Sujatha,- Bear dracula giving leeway to bulls as diwali gift ..let them be fat,,,:D
Strong desire to push the U.S. to the global economy,
clogging up the yuan motion trouble again ........so
now the U.S planning for cold war with CHINA
@sujatha i dont see any big downside in silver, both gold and silver is highly RB,
@fire you are right but we must consider mid BB too
If you will see the Nifty rise in last 5 days,i.e.
4728 to 5136 ..8.5 %,so at least intra correction was very much
due.Otherwise when Bulls shall book there profits ?:)
Dear friends,
These are simple observations supported by simple thinking.
Thanks everybody and Bye.
Stock - upto diwali?? too bad :( as per spiral date "today is another day for high" @ Dow then after 21/22nd possibility. If not high today @ US then reversal?? how DOW - Asian queens will follow
Jiggs - thanks
@Prabakar thanks
typo read write as right in above comment
This needs to be broken for it to be bearish.
https://docs.google.com/leaf?id=0B77Dddav0C5rNzVhMThlOWYtZGNiZi00NzliLWFlN2MtMTY5ZmMzNWQ4MzVm&hl=en_US
@Ramcharan
Chart not clearly visible....are u referring to 5050???
@Ramcharan,
Take a parallel line of the lower trendline and place it on the second peak.
indus..anywhere between 5030 to 50. i will post it again. when we come near that level
Today Sir and DR both observing thursday mauni vraat
Although hourly -ve div persisting, but daily momentum
indicators are marching UP, its a tussle going on..it
may happen to have some consolidation time wise,
in hourly for a day or two and daily will start
resuming up...
lets see how it goes...
fire, indus:
https://docs.google.com/leaf?id=0B77Dddav0C5rZjQ2OTMzMzItYzM2Ni00N2MyLWJiYmEtMWQwZjFmYmU4MTNh&hl=en_US
New Post Done.
After a long time NF trying/coming for
Discount
Huge OI addition in 5200 and 5300 CE
5200 861200
5300 597150
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