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 ... -
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...
47 comments:
Namaste Ilango Sir and JN Family
Namaste Ilango Sir and All.
Goodmorning sir and everybody :)
Jassi - hi sir how r u ?? VFM Jassi-ji right??? advance sugar and ghee to you :)
Today is "Quote Day"??? then y not one from me .. hehe
How much ever your girlfriend is fair and white;her shadow will only be black.
How much ever the fish knows to swim, can it swim in fish curry?
Prayer - Have a Good "Fall day" or "grinding day for 2morow's fall" no "upside day" please.
NIFTY OPTIDX Open Interest at 10.15 am -> CLICK HERE
GM Sujatha, Great quote to start with :)
My icharts show only future values. How to make it show spot values?
Please guide me
LV
venkatapathy,
working normally at my end
Gm Everybody,
High Volume cash trade @ 4967.75 & huge addition of 4 lac intra O.I. in NF in just 4 points, when nifty was just trading bet.4970-4974..As well as when from yesterday, when Nifty is trading far away even from its Hrly JNSAR, & when Dear Ilango mentioned the importance for 4969 @ last Hr.Close,no need to say me “some cooling off is need of the Hr.”.for better upside from here, if there is any. Let see…
Nifty premium vanished.Any signal to cover longs? Your opinionSir
@Experts: As indicated by Prasad, nifty premium is all gone? Usually the premium indicates liquidity in mkts? right or wrong?
BN slowly inching up again
@ PS
Thank you very much. The technical team solved the problem.
LV
Dear Ilango sir,
Even though 5Hr lead indicator coming down from OB, not much price decline is seen, is this indicates the Bullishness? Please guide.
Looking from OI data & nifty movement, looks like 4900 is cemented for this expiry.
@experts: Any comments?
Fib:
4981/4904
4963 4952 4943 4933 4924 4919
4981/4827
4945 4922 4904 4886 4868 4858
4945/4922 is important support.
There is a suspected 5 wave completion at today's high. Suspected - because the ST waves are challenging to decipher..it could go higher.
So the best way to deal with it is to part book.
Look for more confirmations from TT. A close below 4971 at 11.00AM would be one.
Tatasteel exhibiting weakness is another one.
Good Morning Sir and Warriors
Bears are going to pray..
http://2.bp.blogspot.com/-HsF6ONYiIbw/TqtP65Y9GzI/AAAAAAAADJ0/i2OfWRIyskY/s1600/Anyone%2Bsee%2Ba%2Bseal%2BThe%2Bspectacular%2Bmoment%2Bkiller%2Bwhales%2Bemerged%2Bthrough%2Bhole%2Bin%2BArctic%2Bice%2Bfor%2Ba%2Bbreather%2B10.jpg
@ Prabhakar,
You can not interpret the indicator that way. Generally break of "80" mark would bring in selling. There are times market has slided slowly without showing sharp falls but nevertheless declined near 80% from the highs.
You take a directional view from it. If prices do not confirm, wait..or ignore and look for other studies which has clarity.
Goodmorning Ilango Sir and all the Blogmates!
HHEma-HLEma trade update -
Taken long at 4878. Current HLEma is 4852. 74pts gain.
Lower highs & higher lows..? breakout in the making ?
Dear Ilango Sir,
Thanks for your guidance. It is another learning for us.
It seems for last 5 hours of Nf, the low made is 4957(today low), only price moving below may bring a downmove.
Rather than price correction, this seems to be a Time correction.
Is it closing above HHema?
@fire
not able to post at ur blog. no comment box appears in mozilla?
had a question once b of irregular flat gets over
maybe 5000+ one c down left corresponding to a of 5400-4639??
Good morning all friends,
Just wished to add an EW angle to ur studies,
C max = 1.618xA = 5023
If we cannot take out 5023 in next 1-2 days, there is a high chance that
the wave from 4532 did a ABC ZZ
rgds
SMO
Sujata
I'm not able to stop laughing at yr comment " shadow...., fish curry" like vivek's punch dialogue
:)))
I'm also repeating yr prayers. Mass prayers will make it happen...;)
just on lighter side...
last year we made high of 6181 in january....
just watch 81 in the last...
today's high is 4981....again 81 in the last....
Is it high for january?
Dinesh Rishi said...
BN O/H is 9067.35
MNF = 4994.90
Bulls need to break this, otherwise
game is Kumar Sirs
-----------------
I like this.....:)
Wah PS,
IF 4981 IS THE TOP THAN LOW WILL 3331.
(6181-4531-1650).
Hasin sapne to bears.
not to hurt u.
MY लक्ष्मण रेखा 9300
In last 6 hours of NF trading, Daily pivot 4957.62 & Weekly R1 4967.22 has given good support. Weekly TA holding the fall.
For Bears, Need of the hour is to break 4957 NF(Daily Pivot) & 4949 NS(Daily Pivot)
Rohit Shrivastava Says:
Based on Volumes and Breadth [A/D] the next best wave structure alternative to me is as attached
in Wavechart.png. This chart shows the expanding and contracting volume. Ad.bmp shows an average
of the A/D daily data smoothed. Readings below the red line have marked medium term [1-3 month]
bottoms but one has to some times let the bottom phase complete. Like last year a low reading in
Dec followed by a lower one in Jan before that low of 5200 Nifty held for months. During panics
as in 2006/08 the readings were far extreme. So the recent dip below the line in Dec was an early sign
but needed more confirmation and seasonality is often a good reason to wait. However as this week closes
weekly momentum indicators and the 20wma at 4950 might get surpassed and then we would have to
consider that my wave count has something wrong and attached is the best alternative taking into accont
volumes along with this.
What volumes tell us?. Bear phases will see expansion of volumes during down trends and a reduction
during relief periods or when patterns are forming.
That said my wave count has differed with most Elliotticians that the fall from Nov2010 high is W-X-Y-X-Z
though i considered it as an alternative. My best alterntive was wave B triangle into the high of June.
Reason was volumes contracted into that high. But if that was wave B then C should have been into its
3rd wave down and more powerful. Above 4986 that view can become questionalbe. The next best alt
that fits is that June2011 was an 'X' wave. This fits with the wave counts I have mostly marked over this
time. It also explains why volumes expanded during the entire period after June till Dec. Even when
the market rallied in Oct the volume dip was not a lot and its possible that the eitire period from June
to Dec was a big a-b-c decline, i.e. a larger Y. The rally from Dec then is an X wave and would end where
volumes contract or exhaust.
The X wave forming is an expanded flat or running flat. Running flat has achieved its equality target of 4975
yesterday so above that c=a*1.618 would be 5260 as a target. This X wave would then carry up to the upper
end of the channel. Wave Z the final chapater in the bear market would only start after that. Such a larger
relief rally would continue into March/April. Sentiment indicators like Vol pcr, OI pcr A/D and volumes
should cool off by then.
Conclusion:
1. The bear market is not over
2. The next best alternative is an X wave to 5260 above 4950 weekly closing
3. The X wave would be followed by Z down only later.
4. Failure to cross 4950 keeps immediate downside open but maybe part of more complex X wave
over 1-2 months till 4588 holds is possible.
--
As of now no double digit price gain in NF and Nifty options(SR 4100 to 5400) both call and put.
grinding…Grinding…grinding
http://3.bp.blogspot.com/-SmlFqQwalZw/TpPT6iIz3kI/AAAAAAAACPk/h5lQ6J_z2yU/s1600/grind-stone.jpg
LOL :) Even if gfs shadow is black who wants to enjoy shadows?
Sujata sis just counterfun :) Nothing for poor fish. Enjoy
fishcurry.
HHEma-HLEma trade update -
If close below 4950, then close price below HLEma.
But if within 10-15pts, then wait for confirm
before closing current trade ( long ) and taking
new short trade.
Now seems DR sir is offloading his Nifty trucks.
Thanks for offloading sir....:)
Did sujatha mam just smiled while looking at Nifty.
support will be 4930 (resistances becomes support is it?)
@gorakh,
can u pls send it to justnifty google group.
why i dont receive these updates ?? :-((
New Post Done.
Gm Sir and friends: BB squeeze in 30 min charts. sharp moves coming.
@Master: I had entered into puts yest when nifty was @4665 as per your analysis of resistance ~4960-75 & thats exactly where it is resisting. But today, when nifty broke 4950, I covered it with profits since I did not see satisfactory volumes on the break.
Question:
Applying your methodology of part booking, I dont see a problem w.r.t futures, but I do not know how it should be done for options & that too so close to expiry since even minor movements in opp direction will cause lot of decay. Hence I end up booking all @~15% profits. Where am I wrong? How should profit booking be done in options? I feel this is different than futures since there is this decay factor.
I am sorry, if this reveals by trade, but I did not know how to ask this question without giving an example.
Post a Comment