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....
-
5010-5039 supply zone proved a ST resistance. 5002 proved a break down point. 4945 to 4982 proved a corrective rise, monitored with an ...
61 comments:
ILAN KAALAI's
MARKET MORNING TO ALL,
@ILANGO SIR R SENIORS :-
JNSAR @4967 , SO DAY IS IN BUY MODE, BUT ITS CHANGING TO
SELL SINCE 5090 HRLY JNSAR, IF I SHORT HERE 5090+20=5110 WILL
B THE SL, AM I RIGHT ,
@ilan Kalai. u r following hr jnsar or day jnsar?
@ilango sir
I am getting confused with the agressive trades that you list. Are those nifty future levels or Spot Levels.
Thanks
@ COOLDENT,
IF I FOLLOW DAY AND ENTER ADVANCE USING HRLY , MEANS ,
...MY SL WOULD BE 5110, NOW U EXPLAIN
Hi,santej
Master always gives spot levels unless specified
yes i think u can.
thanks parminder
In NF Breakout Strategy
Upside Breakout:- 5111.45
Downside Breakout :- 5044.40
Sir
I Do all kind of analysis and finally come here to read your comments. The conviction in your words is what i look for to hold on to a position.
I have so many friends who only read your comments and look for clues in your words to take a position. Please break your silence master.
Thanks for the 5 Minutes chart. That chart speaks for itself. Still like to read the green box.
Sir,
just give a "hi"!! in your green box sir - will feel happy!!
Namaste ilango sir and friends,
Today's quote received :
Message to learn from a pair of walking legs…..
The foot that is forward has no Pride &
The foot which is behind has no Shame.
They both know that their situation will change definitely…!!!
Yes.I second Ashish. Sir, might be busy or something.
At what time Inflation Data is coming?
@Ilango,
Guruji,
There are many followers here like me who would prefer to do it silently without taking part in day to day discussion. But I surely missed you from yesterday and look forward to your expert comments. Those are important for us as satheesh said. We look upto you for guidance.
Regards.
@mynac high vol traded almost 69 lacs at 10.19
at price 5085. pls throw some light.
if buyers or sellers ?
thanx
@San,
I second you whole-heartedly. I am one of those people who come here to read the green boxes. Without it, this comment section could be closed altogether. Students can afford to keep silent, but not the Master.
BTW, in the 5-min. charted posted above, the morning low should have been lower than yesterday's low.
We are now comfortably placed with JNSAR long. When we will come close to it then Sir will surely come to guide us. He must be busy now.
Atleast Sir is posting premarket and later updates for us.
Adios.
I think nifty has gone convince sir, to come back
so now it is absent from the market till then rest
friends!
@ilango sir,
Thx for the futures chart.
Diamond pattern formed in 5min NF charts.
Diamond Pattern in 5min NF
For further details refer
http://thepatternsite.com/diamondt.html
GM ilango sir, drsir, kumar sir, fire, sujatha
and all jnfamily friends.
@sujatha
any problem with drsir's wife?
@Prachi in any trade a buyer and seller is involved but if the said instrument is trading ^the traded price we can say that the buyer is having upper hand
today..sanjay bhai is also missing.
thanx @bhavan
@pcsmitrpra
INflation figures are due after 11.30 am...where did
u get this number from?????
In this case u can see that the index has not gone up significantly we can percieve this that somebody who had sold at rate of a higher price might have booked his profit and waiting for the next move as he is not sure of the trend he could have part booked aldo
@ Satheesh,
What is target for this diamond?
Thanks Satheesh,
Got it
ok
that means if we have long position we sud keep sl
near that value for intraday. isn't it?
From opening till noe NS is moving between week Hema 5080 and PIVOT 5095. Breakout above Pivot NS will zoom up!! Breakdown below 5080 a big thud will be heard!!
PUTS OI UP
----------
PE5000 680,900 12.19%
PE5100 897,300 32.10%
PE5200 100,750 10.30%
Master,
In the 5-min. chart above, does todays low of 5056 show properly?
Satheesh - good one - Breakout above Pivot NS will zoom up!! Comparing to last week we are extremely high now !!!! so where will be close today??? super high? super low? or closed in "grinding market" haha time pass
@prachi,
i dont know if this helps u or not, what i see is that
4728-5135 is correcting in time, it can turn from
5057 today low, whipsaw once more there, or fall to 5000
or below and then rally. trading correction is
challenging. i lose money in it so i shudnt advise
further. :-)
MASTER,
we dont know where r u but must be fit and fine and busy with
some work but this is for u from all
http://www.youtube.com/watch?v=hTeu-Hx0tos
@Satheesh,
Nifty must sustain above 5100 for any upmove now. Failure to do so would mean intra-weakness.
4728-5135 was 5 days. Correction will take atleast 2-3 days. I am still expecting some meaningful correction to 5000 levels. But by that time, my 5100 PE shorts
will have decayed so much, the trade will not be worth it :).
The 20L 5100PE writers from early this week know what they are doing...smart money.
BB in 30 min charts narrowing again. big move coming sooner.
Note the gap of Sept 21/22 was filled yesterday, but in
futures the high was 5140 and this corresponds to the
high point of the gap at 5141. Nifty futures got
resisted here and scrambled downwards.
Today again it is trading within this range.
For bulls to make it they have to take out 5141 swiftly.
For bears to make it they have to break 5060 devastatingly.
All values in futures.
But nothing may happen and nifty might trade within this
range. It is actually waiting for news.
Another danger signal is the SC decision on PC. If it
comes negative for UPA then we head below 4700 surely.
@Prachi I would suggest that u can use that price as reference but if in buying keep a sl of close values of the hourly readings u find out your own and see your comfort levels of booking looses as what u r saying is something very obvious to all and the big market players never do the most obvious they r surely to eat ur SL also best is if u are a beginner or small player look for your profit booking at apredetermined level as this would help u building your capital look at it this way if rs 500 for one lot per day n if u can make it for even 18 trading days the rest 6 going in +and _ u would end up @9000 per mth with just 15 points profit in a biog nnifty lot 15 points I m saying because that would take care of your brokerage just make trade of 15 points and sit aside keeping in hand the reference of TT table till the close gives any significant clue that is the hourly clue and the capital involved here is a mere 30000to 32K
@Fire: My confusion is that if nifty fails to sustain
5100 levels, then how do u decide that the weakness
is intra-day or would spread to the next week as well? Nifty is currently in oversold
levels, but as Master mentioned, the persistence in
oversold levels signifies the strength of the move & it
may move higher.
I feel nifty is currently in a "no trade" zone. We have to wait
till it either breaks 5135 for confirmation of upmove
or break 4950 for confirmation of downmove.
between these 2 levels - I see it as "no trade zone". maybe
some small intraday shorts or longs in futures can be
attempted, but certainly not options unless we write
options & benefit from the time decay.
SR we maybe heading towards 5170+ if we donot break today low
@sujatha
sent a mail
RIL to declare results today or tomorrow?
@ Parminder,
Yeh Duniya Yeh Mehfil
"The heaviness of being successful was replaced by the lightness of being a beginner again, less sure about everything. It freed me to enter one of the most creative periods of my life," Steve Jobs.
"Weakness below "5094".
I think we should hold our positions as it is
@Bhavan - mm.. possibilities are open only :) am not comfortable in longs as i stopped out @ 5060 shorting only @ higher levels and closing :P let the move come without me no probs.
Inflation - 9.72 Vs 9.78% now let us see
A flag formation in hourly, if breached 5118-20 on
upside it may moved higher...
SR I also booked daybefore could not short yestyerday ant entered again today morning with sl of 5050 and then see I normally give very high merit to the premarket <<>> values
Sir - thanks for your comments. Mind seems to be relieved now!!!
Master,
Thanks for coming back and making us all feel HAPPY.
It is the love and care we have for u.
Jiggs - reply sent.
Bhavan - tooooooo bold. i don't hv guts in other words "adament" not to be in long?? donno myself :P by the way i will agree the mkt may move up "if EOD CLOSE is abve 5115/20" levels or else not
@Prabhat,
5100 is my reference point for intra-strength or weakness. And we should take one step at a time, na? :) Let us see intra first, then daily and then weekly , as Master taught.
About the rest, you are absolutely correct.
thanx Bhavan for the suggestion.
@Ps the afl which I was trying for rsi as per sir's calculation is working now.
watching it for 2 day in Ami
New Post Done.
H-JNSAR turned long at 12pm.
Previous trade was 28 pt loss.
Suja,
If NS closes above 5080 today then - after 14 weeks, (15 july 2011) It would have closed above the Week HEMA. So due importance must be given to it.
Sir, Am I right??
@prachi,
nice to know that. actually i stumbled across
a rsi afl which was giving same values so
mailed u few days back.
equilibrium!!!
A peace before the storm downside bias
Post a Comment