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 ...
60 comments:
@Sateesh @DR Sir,
Probable implcations please ????
PT Plz PTO
@DR sir
Thanks Got it :)
PT it is a pattern which should be confirmed by next day's price action. If from monday it moves above 4957 Monthly pivot and continues to trade above it then it becomes a Bullish Hammer.
Today at 4922 61.8% retr is over from the leg 5034-4728. So if the same Monthly pivot is getting resisted and Nifty tends to move down the next week it will be considered a hanging man.
Moody cuts ratings of 12 UK banks along with 9Portugal banks.
The Hammer and Hanging Man look exactly alike, but have different implications based on the preceding price action.
I am compiling a TA book and will be available to all on
Diwali this year.
Give a man a fish and you feed him for a day.
Teach a man to fish and you feed him for a lifetime.
http://www.bankniftytrading.com/p/learn-ta-online.html
Fee : dont worry it will be Free
Therz lots of Money in mkt if I take few drop mkt wont mind.
@Sateesh
Thanks a Lot :)
@DR Sir
Aameeen -- SummaAmeeen :)
Power trade,
What is the logic behind your question of “ Will it be again 4780 today “ ??
Ilango has expressed in many ways today that longs are ok. He has even given a direct message to SAM to go long at open though it gapped up. Have you all ever seen such a direct message from your master? Then why you all people have doubts in mind and still throwing lot of questions..
And the worst part is you are throwing the level of 4780.. If it comes with the logic, then the readers will have something to learn!!
dinesh sir, comming soon kab
@Nanjil
We had three Gap Downs first run away second break away --- The third Gap could have bee an Exhaustion Gap -- But with today's Gap -- Still the Gates open for the exhaustion Gap down ----
I would have been more happy with the bullishess if it came slowly --- But with such huge Gap up --- Looks like SetUp is being Made for the Long Term Targets on the down side.
See the FII Figures Still No cash Buying visible.All the rallies in the last two months have been lured by the Future Segment and we have seen that it dosent last much.
I may be Wrong also Nangil
@ DR - http://www.youtube.com/watch?v=liXMOlmByl8
Pcsmitpra,
SBI was downgraded. What happened now?!
I can see that your stop losses are hit often.
Don’t do trades based on news or never be biased due to news. If you do, your SL will get hit quite often!!
moody,s&p,abc ,tbc cut rattings every now n than
is there no 1 to cut their or cut them?
@Shyam
Moody has turned at bear :D :D :D Lagta hain
Mooddy Jo thehra :D :D LOLZ
12 U.K. FINANCIAL INSTITUTIONS CUT BY MOODY'S.. Bloomberg
सोचा हु मैं भी cuting Busines चालू करू, मेरे मतलब Hair Cutting से है
Hi sir & friends...
Nifty is trading below the JNSAR. confirmation comes with closing
below the hrly JNSAR @4896. only the Hrly High EMA is resisting. 4880.
Closing below the hrly HEMA @ 1.00. south journey is on.
Just Playing with the No.
Most critical point of the week-4874-week & Month's open.
Powertrade,
Your explanation is not justifying your comment about “ 4780 today”.
If we take your gap theory, do you really think that gap will get filled on the same day?? That too this kind of deep gap.
FII figures, you will come to know only tomorrow if any purchase is done in today’s up movement. Sentiment is slowly turning positive across globe.
You may be wrong or I may be wrong. But what if someone do not reverse to long keeping your “4780” in mind!!
Let us be more responsible in a public forum which is being followed by 1000s of people.
DR SIR,
We are eagerly waiting.
@drsir thanks for ta course arrangement
Chance of GS DOJI today?
1 nice thing i observed abt cutting agency like moody
they do not give any report research for free but
such big country cuts they provide free free
European markets have opened on a flat note ............. Nifty trying to take support at 4880 levels .... if manages can see a bounce till 4900-4920 ...... and on the other hand break below 4880 will take to 4860-4845
nanjil
Cool down Bro
we Know PT and his trading style :D
He has not given his real trg which he is having in his mind
due to .........
PT Cheers Man and grow up
Lolz
Good Afternoon friends,
just away from office.
First I would like to Sir lot of thanks.
By your last minutes view on Wednesaday,
I have avaoided new big position in PE/CE.
High so far is 4922.60. low 4728
retrace on downside are
4877/4849/4826/4802.
4877 lvl is matching with Sir's lvl of 4874.
pdd
@Bhushan
I need a hair cut :D
@DR Sir
If it is free one for me and one for my son (thanks RG)
Dear senior members,
Please tell r we out of JNSAR long trades??
jigs
if the day ends with GS-D
it will take many under its stone :D
@Charu: JNSAR is on short side. will reverse long @4914
Dinesh bro,
Not at all hot. Let me put this smiley here :)
Am not pointing PT here. It’s just a common message. We are all matured people. I know most of the people comment here are almost completed 2-3 years graduation at JN.
Is it not fair to expect this much ?
PT,
I am agree with your views of FII figure till last wed.
Today, big open price & slowly coming down favors
they still have bear mindset up.
Otherwise, 40 points down is sufficient for them
to give another upmove in 30 minutes only.
More in , future trading below ATP of today
by more than 90 minutes.
pdd
sir,
is jnsar short or long at present.
pls reply.
@DR Sir,
:) :)
Sir,
Can you give the 5min chart with EW counts?
Fast rise setup ?
To All
earlier on my blog I was having a link of website
it had Trading Strategies and their success ratio (back test report)
I lost that link if any old member is having plz
share it.
@Ilango
Could we take 4874 a level to initiate shorts?
Dear Ilango Sir,
is there any change in the NF JNSAR(4910)? If yes, could you please let us know the current JNSAR for NF..
@ Satheesh,
I have uploaded the 5-min NF with old labels + alt. label(Green).
Till 4960NF is not crossed decisively, it has few challenging times..
@Ilango
Today's JNSAR at 4914 has been hit thrice and whipsawed
thrice....assuming a 20-25 point stop loss.....If I
initiate trades based on JNSAR, is it not logical to
assume a short?????
Pardon me for bothering you with this question
AA
http://www.youtube.com/watch?v=HM_uwRRBwGE
Markets are becoming increasingly boring with most of the moves in gaps up or down and we are left to watch it stuck on some level most part of the day :( wot to do?
No entertainment from Sujatha also !! ;0)
Dear DR nice to hear that you are compiling a TA book.
Please tell us one thing. How to manage opening gaps.
thanks in advance
Regards
Thanks sir. it has helped a lot especially in intratrades.
@ Indus,
Your JNSAR of morning would have morning low(instead of 20points, this would have been a closer & logical one) as SAR and it has triggered sell again.
@Ilango
Thank you
Since I bought at the open, I am keeping 4874NS as SAR now.
Parimal
Its big topic how to trade gaps
and has been covered in my TA book
There are 4 types of gaps and 8 methods to trade gaps :D
@Ilango
Your comments, have clarified my queries....as always,
thank you for your time
Today first time lot of whipsaws with JNsar.. so sad for me.
SAM that is bcoz of me.
I m holding JNSAR trade it must give whipsaws to
test me patience.
Thanks DR
looking forward to read your TA compilation by Dipavali
it is true that we feel quite helpless at the hands of FIIs.
opening gaps created by FIIs and are extremely difficult to handle.
let us see what solutions DR has
best of regards
Parimal
to trade Gap : Thumb Rule Observe ORB
SAM.Why whipsaws?? Didnt sir mention weakness below 4874?
New Post Done.
dear ilango sir,
i am following your blog for the last 18 months and it always gave 30-50 points minimum profit once day jnsar triggered. this time also i hope the same for longs with sl 4874 !
@ Mynac could you please take some time to explain the readings of the link that u hv provided: till the time I m writing this there is a big bar in the lower part or say two bars one around 9.15 approximately 4ml resp rate 4907 and one big bar around 1.25pm appr.around 6mlrate 4884 am I reading it rightly?
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