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 ... -
Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor... -
If the steady FIIs inflow reflects in the prices, 5405 should be protected going ahead and market may encounter minor corrections and keep m...
79 comments:
today 1st trading range 4705 to 4800.
Namaste Ilango Sir and JN Family
@gauresh59,
Thanks for nice quote!
Intra charts are oversold now.
How much bounce happen..? Does it get resisted at opening high-4740 or higher at pivots-4753..?
Is it a reversal from here or just a bounce before resuming down move.
Market's hand will be revealed whenever the lows are broken again or by afternoon.
Good morning sir and all :)
Can anybody provide "Lift" for "pity bears" it's struggling to get down thro staircase.. let it come by lift..
Namaste Ilango Sir And All.
ilango sir does this mean one should go short on break of JNSAR and long only above 4780.
In last year the bear mrkt started from 6 jan
Good Morning Everybody!
4700 must help bulls now & 4675 rock solid support, below 4675 bear dance may start upto 4640. If 4700 protected well now then lunch may be costly to bears:)
sir do a filter is required for a short below jnsar in todays trade
@Sujata,
Come inside the plane. You got down so not able to fly. It is just
waiting for you to come. Looks like I am only one in the plane...
@Nilesh.... last year markets were at Top..
@Shuklaji: Does your plane stop only at 4100? :)
@ Shivan gupta,
As suggested in the morning - "4710 - 4755/70" is the challenging zone.
If 4710 holds and the reversal is powerful, 4800-25 will be seen by Monday.
Today's close will have some clues about "continued weakness in week" or " a weekly reversal".
You could see how the hour TA started to weaken by not able to break above 4780 last two days. Presently attempts are being made to break 4700.
@Sujatha,
Your call heard by Lift operator. :)
@Sir
tomorrow mkt is open, so JNSAR is developing JNSAR is for tomorrow...
Just for fun..
http://www.teddy-talk.com/upload0806/BEARS_DANCING.jpg
jnsar trigar
@Prabhat
No, in January I am bullish.
Sir,
first attempt done to break 4700.
s3 is 4677.
50% retrac from 4783/4588 is @ 4686.
61.8% is @ 4662.
4662/4686 is to be watched.
is it?
@ Rajan,
Some use filter all the time.
But we chose to apply only for first 2 days after the trade trigger. Today is the 3rd day after the Long triggered. So no filter.
Very Huge volume seen in NF in last 5 mins... 14 lk
Lets see how prices behave here... will they take support
here?
Prabhakar - GM to mam :) Kazhudhai Sonnadhu!!! Ennai paarr Yogam Varum… Figure-i Paarr Sogam Varum!.!.!.
Shukla-ji - technically lot of bullish indications i didn't deny it..but "practically it's coming down" i can't sit adamently :P with bullish bias as lot of times "these indications are showing wrong"
I already with "parachute" now waiting for the "safe landing place" don't worry DR-ji is with you always
nileshji,do a filter is required to take a short below jnsar,i mean of 20 points.thanks.
Atlast ... Now can go and sleep ... JNSAR ...Daulat
Beshumar ....:) :)
illango sir thanks alot for reply.
5 min. candle closed below JNSAR
sir,where to cover a short if trade is intra day.Thanks.
@Sujatha,
Conveyed and Wishes you Good Morning with LOL:) and expecting more today.. :)
@PT,
Aamin.............
IND VS AUS 2ND TEST: AUS WIN BY AN INNGS AND
68 RUNS
India 191 & 400/10
Australia 659/4d
100 SMA in hourly currently halted, lets see how price
reacts this time...time to be less aggressive
Dear Ilango SIr
For the JNSAR short taken at 4694 what can be the Stop and reverse point for today?
Regards
Reliance baba holding morning opening lows...
jnsar short executed wht u say all seniors ???
@ Laxmi,
Some take a reverse of 20 points and some take it for
25 points. Depends on your risk appetite.
Thanks
JNSAR trades are managed with 20 points mostly.
@ Rajan,
If you wanted "intraday", you should have gone for "Hour JNSAR" which was down since yesterday.
NF hourly is moving in contracting triangle.Inability to
cross 4780-90 can take it back to 4610 approx.
Just an observation
sir thanks a lot for sorting out my query.
@San,
Dollar Index Touched 81. Can we have updated chart Please
may move uptill 4725 again
sir,you hold the hand of your student like a true teacher,i feel obliged.
Sanjay's OI table shows 11.94 lakhs of 4700CE writing and 0.94 lakhs of 4700PE unwinding.
This implies 4700's vulnerability as a support. Since these are "intra changes", more credible picture will be seen from the EOD table.
sujatha sis nifty ready to fly for 4760?
Last Hour high @ 4723 is the immediate resistance.
ns :4712 is 1st res,now
Dear Sir
Am a newbie to this blog and have been observing the changes in JNSAR regularly. Today, JNSAR stopped out and a reverse signal was there to go short at 4694 (no filters). Now since JNSAR is triggered, should we wait for 4714 for reversal of shorts?
Regards
Manish Garg
Manish
Yessss
Cooldent
Thank you
NS HLEMA -> 4708.65 may be the R1 as of now.
Apologies for sounding naive, just one more question..
Developing daily JNSAR for tomorrow is 4701, hence the filter for tomorrow should be based on 4701 or the JNSAR for the day when the trade was initiated?
respected sir, there are two trades possible First i learnt was DHEMA +/-20 POINTS TO DLEMA+/-20 POINTS and Second is JNSAR short...what shud eb be the right way to trade in such a scenario?
shud we buy around DLEMA with 20 points sl or shud we short at jnsar with 20 point SAR?
manish
if u r short then tomorrow ur reversal will be 4701 + filter of 20 points or so
@ Sarvesh,
"DHEma to DLEma" is a trading range used for "intraday players".
"JNSAR-Day" is meant for "Positional trade".
G M everybody,
Dear Ilango,
Can we label this move was or is "rounding top" i.e. Topi Pattern in Hrly chrt since 3rd Jan ?
Nifty intraday update: CLICK HERE
SIR, sorry to have missed a basic point..
@Tigar
I will try to update Dollar chart in the after noon.
EW guys, plz comment...
http://imageshack.us/photo/my-images/263/niftyewpossibilities.png/
ns : < 4685 then fall expected
till 4655/4621
Nifty Hour chart updated in the above posted link
As of now, Highest OI (Call side) is still with 5000. But 4900 as well as 4800 are catching it up.
What does it mean ?
If we stay in down move for another 4-5 days. We might see Resistance changing from 5000 to 4900/4800.
Volume at day's low in NF in 5 mins only is 14 lakh...
So this may be SL hit of the long players...
Now who bought this 14 lakh... such a huge quantity...
those who bought may be expecting some upside..
As usual my thoughts...may be wrong.
@ Mynac,
If it is rounding top...its happening near the lows in "Hour T/F", the implication could be a drop till 4633 provided it stays below 4725-40.
NS 21 SMA on Hourly TF -> 4748
NS 34 SMA on Hourly TF -> 4709
NS 50 SMA on Hourly TF -> 4701
The above SMA's may act as resistance for the Day.
Considering the 5Hr stoch OS, a crossover may halt the downtrend for couple of hours.
@ Anil,
You have a "green average". If Nifty moves above it and "sustains", your labeling has a good chance and a reversal.
Cooldent, thanks once again!
Good Morning Sir and Friends.
====
Best Trading tools for the day:
Italy,Hungary,Spain and the group of TASMAC 2.30 traders will decide week end TA?
dear sir can i buy at this level? 4711
@anil
it can be a possible count in currect situation.
however we are in a pattern (as it appears till now to me). if we remain in the pattern this count
will become invalid
Dear Ilango, Thanks for confirmation. But let me confess, I am & was not aware of the consequences, so today, from here onwards will try to see price movement, in that connection... Thanks..
Is there intra Nifty Channel breakout on upside.. in 5 min
chart...?
Good Morning Dear RG Sir,
TASMAC 2.30?!!! hummm interesting
@sir
Thanks...for your comments...getting an itching like
sujatha's ,we may see again testing of 4686 level,
before commencing up, if at all..its as per momentum
indicators setup on 5 minute charts...
ilango sir at this time hourly is OS but daily is OB so how should deal with such situation.
Respected Sir, while taking intraday trades, an hourly closing above DLEMA shud give a long trade in a downfall or shud we wait for an hourly close above HLEMA?
GM to Illango Sir / Blog mates,
By seeing the movements of the market for the last two days, in terms of complexity it is contrast to downside move from 5400 to 4639 and from 4639 to 5100. If my understanding is correct by taking into consideration of the above factor and also wave count of the following
Wave a = 5100 - 4531
wave b = 4531 - 4583
the above implies the irregular correction is taking place and hence the present downward move will continue at least for another two days and it has the potentiality of touching 4570 - 4580 after which fast move in the upward direction will take place and which may just cross 5100 in less than 14 trading sessions
New Post Done.
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