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 ...
58 comments:
Sam. Why whipsaws? Hasnt sir mentioned weakness below 4874?
Ilango said...
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.
October 7, 2011 10:56 AM
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 !
A Hem :)
Mynac reposting
@ 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?
4874 broken for the first time from morning.
pdd
38.2% retr of 4728 - 4922 = 4847
44.7% - 4835.
61.8% - 4802
Is there -ve divergence on 5 min chart?
pdd
Dear Bhavan,
Just logged in and saw your comment.
The volume @4884 is 71.50lacs.A huge-one.
The reading for the same as per my thinking,
Now it will be tough for Nifty to cross & sustain above
4884,for remaining part of the day.If it will cross it
then 4907 is next hurdle for Bulls.
Sooner or later,as the time shall pass we may find 4884
as Hrly.pivot or Hrly DHEMA.
This is one probability.
@Pcsmitpra
Ameen :) The max will be on monday :)
दोस्तों,
आज मैं आप सब के समक्ष स्व. शहीद श्री तुकाराम जी ओंबले की Facebook account Link प्रस्तुत कर रहा हु. आप सभी से अनुरोध है की आप सभी इस लिंक पर क्लिक कर के, इस लिंक को शेयर, ज्वाइन, और like करे. स्व. शहीद श्री तुकाराम जी ओंबले के बारे में जो लोग नहीं जानते हो, उनकी जानकारी के लिए, में मेरे facebook अकाउंट की एक लिंक जारी कर रहा हु, इस पर क्लिक करे. श्री illango जी से अनुरोध है, कि कृपया मेरे द्वारा इस तरह कि और कोई जानकारी अगर प्रस्तुत कि जाती है, तो उनकी आपत्ति कृपया मेरे gmail address stockngains@gmail.com पर भेज देवे.
यूँ ही नहीं हो जाता , फूलों और फलों से भरा बगीचा,
किसी ने की गुड़ाई, किसी ने बीज रोपा, तो किसी ने तो होगा सींचा,
मीठे फलो के बगीचे का ख्वाब देखा है
तो किसी को तो हकीक़त की जमीं को खोदना होगा
किसी को तो बीज बनना होगा, किसी को तो मिटटी
तो किसी को उन्हें रोपना होगा
अब वक़्त आ गया है
हमे अपने अपने किरदारों के बारे में सोचना होगा
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WHO IS HE & WHY IS HE NOT ALIVE
Jai hind
Jai bharat
Om sai ram
we have observed 100 points in nf
from H/L since few days.
if we apply for today's high,
it may be 4839.
pdd
@Hitendra
Ambe maat ni Jai :)
Dear Bhavan,
Now simply following TA table Rule No.3
When prices move below Hema then sell on rises to CEMA/LEMA
Thanks Mynac
no doubts now,,,,,,,,,,,,,,jnsaar short ready for big move
PT,
Ambe Ma has started Garba @ Europe.
wl be followed at USA tonight.
And at Asia on Monday.
For This, NF has to close below 4879 today.
pdd
Now JNSAR in short side?...
Ilango ji,
i have sent a mail...please revert based on your time constraints...
@ Ganesh
Yes
Huge 28.75 lac O.I. addition in NF.
Let us see whether there shall be any counter attack by
Bulls bet. 3 & 3.30 PM
Here it is how I look today's trade.
Trade 1: long 4914 sl 4894 (20pts sl)
Trade 2: short 4994 sl day's high.
For 2nd trade in a day I keep that day's high/low as sl, mostly it obeys.
Adios.
@ Bhavan - Good noon :)
Doctor to Sardar: “aapki ek kidney fail ho gayi hai…”
Santa pehle to bahut roya, phir aansu ponchte hue bola: “Kitne marks se?”
Height of optimism…a man marrying his subordinate thinking that she will still follow his orders as before!!
Our Reader's doubt:
A doubt..it is..please clarify...
I will take today's market action as example..
The market rallied to 4921,dropped to 4865,trying to go up now (@2.45 pm) and getting resisted at 4970..
What assumption can be made..is it getting supports at 4865 after a correction from 4921 or is it getting resisted at 4870 due to bearish outlook...
How do we find support resistance intraday...or do we need to have the levels ready before market opens???
The first chart of this post shows, Previous supports acting as resistance from 4911-4940 zone, coincides with channel resistance.
Previous resistances @ 4840-4855 is likely to act as supports.
A Falling Wedge completed in intra-charts? A new high to end this rally now?
Or a new low will complete that?
Ilango sir:
JNSAR is down, but strength seems to be there(fall less than 38%).
Day lead has moved up from 20. should i close out position for clarity tomorrow?
pls dont think this question as lack of belief in system but signals seems to be mixed today. so want to hear from you sir.
Thanks ...Yash and dhan..
@Sujatha
LOLZZZZZZ
Please make it a Leading Diagonal.... :)
@ RamCharan,
The tools I have used to arrive at "buy at the open" are Regular TA-macd, stochastics & rsi and they remain up. Holding above 4855, earlier resistance turned support now, I'll hold the Longs.
JNSAR trade being the mechanical one reversed to "SELL" now.
Thanks Sir.
@ Ramcharan,
we have been talking about the contracting ranges since the high of 5169 & 5168. The correct way to trade them is to buy near the lower supports with OS & +ve div and sell near the channel top with OB & -ve div.
Intraday bullish and bearish traders today
http://www.youtube.com/watch?v=J_ARq6GHsfQ
@AshishAg,
Yes. You can clearly see the a-b-c-d-e starting from morning high in the 5-min. chart. The 4th completed?
Please study and develop your own system like JNSAR.
chooti si Asha
Nifty Plz close at Days High
http://www.youtube.com/watch?v=YTCJCgEqCHc
mynac,
real counter attackkkk
pdd
jnsar again triggerd to long side.
Thanks Sir. confusion cleared.
Dear Hitendra,
The possibility was there & yahoo charts were suggesting
the same so playing safely :) but from move it looks,
still Bulls are cautious.
micro labeling
:)
are in c of ii of iii of 5th down.
:)
Dinesh Rishi said...
chooti si Asha
Nifty Plz close at Days High
Sir,
chooti si Asha
pdd
as per JNSAR... now what is the position ..to hold shorts?...
is jnsar short or long.........
pls help,,,,,,,,,,,lost lots of money first time trading jnsar
mynac,
i m selling call.
pdd
@RG where r u? come once a while or filling up gold/blackgold barrels?
Dear Hitendra,
means you are not that much convinced with the move.:)
@Sir;
This has reference to my buying on 5-10-2011 @4772 Aggressive it maybe but not IMPULSIVE.
I am writing this because the same day there was a comment which stated that since the mkt is in this indecisive stage we can short the ONLY LOGIC given behind that was the SL towards shorting side was smaller compared to the buying side .
A request to all traders that though the advice or actions given/taken by anybody are always very important IT IS YOUR MONEY THAT IS AT STAKE SO SIMPLY DO NOT RISK ANY HARD EARNED MONEY WITHOUT ANY PROPER GAME PLAN. RG our very old friend though not seen here this days had put in very explicitly the rules of If and Buts u will find them in older posts way back 2010 feb. approxi.
I had reasons for being long due to the exp. I have with mkt I was very closely following some stocks and had corelated their reversal with my buying position, though all TT was not in favour of buying and risk was solely mine ofcourse I had thought of SLof close below 4640 the next day and 4720 the same day
Also if u do not have online access it is very difficult to trade on phone u might loose up a big amt of fortune.(I lost all my working capital last year when I was a less focused towards trading due to other priorities).For this the best way would be to trade the premarket range because it hardly misses it has a success rate of 97% .
Today also the TT and OI is screaming reverse your positions my perception (based on the fact that though previous months hawala was breached it could not breach previous low of this range, these are also very very conventional methods but maybe significant signals)we r stil thinking of shorting
Only writing so that people may learn some caution
JNSAR remains short.
But the close above 4874 has kept the hopes alive for Bulls.
mynac,
definitely.
what I have planned on Wednesday
has done today.
lets see.
pdd
Thanks Ilango sir,
for clearing the JNSAR doubt..
mynav,
i m expecting sub 4800 lvl on Monday.
pdd
Happy Weekend
Bye to all
Fighting Styles :
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1980's:
Meet me at the ground and i'll show u !!
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1990's:
Dare to come at my place..then u'll know who i am !!
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2000's:
Phone pe sher mat ban saamne aa to dekhta hoon !!
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2011's:
Tu facebook pe mil saale...! Teri wall pe aise comment maarunga k account hi delete kar dega :P
Bearish action today IMO.
@DR sir, to which era do you belong? ground or facebook?
By the way 2020 mein pata hai kya hoga....
Dekh saale tera stoploss trigger karwata hun... janta nahin hai tu mujhe!
LOL Buzz
Very Nice buzz
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