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...
57 comments:
@Rajan ... BIG "G"==== GOOOOGLE
DLEMA resisting so far.
Jagan said...
@hitendra
it indicates reversal of the trend.(like hammer)
Bro
The doji represents indecision in the market.
@Sam
Thanks.
@dr Sir
sorry to give wrong information.
Thanks DR sir - BN certainly is not sure of its
northwards journey ...
As soon as it gets into +ve territory,it has other thoughts and doubts. Promptly gave away 50 points from 7990.
There is a chance of forming big X on the nifty. It seems that
first abc may have completed now. We may be forming big X having
five internal waves which can continue for next 3-4 months.
Banks may lead that. Banks may lead or hold up.
IT may correct in 2012.
that big X can retrace entire move from 6339 to 4531 or whatever low comes.
@Jayaraman: My 2 cents: Whether you are sure or not, I do not see any harm in updating on a intraday basis. In case you do not have the time for it, then I cannot comment on it. But often I have seen many good analysis being posted on newly created blogs in the fit of good intent, but almost all close down later or never updated again. They are alive for a brief 1-2 week period.
I was only scared that your blog too does not join the lot. Kindly update it since followers like me are interested in your analysis. In case you are unsure about the movement also, kindly post the possibilities & leave it to the readers to decide which one to take/follow.
:)
@ Prabhat,
Thanks Prabhat for your kind words. I will complete it by tonight. I will try to make it as weekly affair and in the process my belief system is also strenghted.
Thanks once again.
Sir;
GA
Can anybody explain why there app.20 lakh buyers in nifty normally it is in the range of 2-12 at the most this is a sudden development within half an hour.
Namaste Ilango sir and all,
Bearish Bat pattern update:
Click Here
There is a Bullish crossover of 50HrMA over 100 Hr MA.
@Sujatha,
Sach mein aj nifty garba kar rahi hain.... Me watching TCS
and Tata motors for weaknesss .... All that goes up has to
come down ... :) :D
this number has suddenly halved
@ Pankaj ji,
The big 'X' is ruled out by seeing the movement of the today market for the following reason.
1. 'X' normally faster than the previous leg and in our case 4801 to 4588.
2. 'X' is normally less complex nature in comparing to previous leg and today's movement clearly indicates it is in more complex mood than the previous leg.
In view of the above 'X' is ruled out.
As of now Illango sir labeeling of 'a/x' stands very
firmly from 4531 to 4801. We need to wait for
invalidation point for a day or maximum two days. But as of now by holding 4588 'a/x' stands validated.
More over I request you not to predict anything which has no significance for more than 4 or 5 trading days. By violating that we will be doing diservice to our blog mates and as well as to ourself. If you want to say that the trend is up, it better to say that the trend is up with specific reasons.
Please don't give such wild target like 6339 to 4531 entire retracement. Some times out of your excitement you are commiting mistakes.
@PT - "All that goes up has to come down ... :) :D"" "Newton theory"??? u r getting an award of "technical scientist" hehe :) :)
@ Bhavan - u r gng to get "best Ph.D researcher award" :)
@ ILLANGOJI
HCLOSE ABOVE DLEMA SHOULD CUT SHORT POSITION ??
@Sujatha .... hahahahahahahahahah ....
Sujatha,
:))))))
I am saying Big X on upside is going to start for upside now..
The wardens willbe returning(FII) from tom.so the localites covering all their positions
Jayaraman
Thnx
& thanks to Shukla ji also, if he would not have
posted we would not got your valuable Post.
somebody was talking of an inverse H & S...
@sateesh
Please find time to answer my mail
80% retrace of 4531 to 4801 @ 4588 has been protected presently which is a good area for a ST reversal.
@ Nilesh,
A close above DLEma suggests weakening "down" momentum. Accordingly,one should reduce shorts.
SIR,
YOUR COMMENT PL.
Downward channel breakout above 4640 NS
dinesh sir & pankaj shukla
in big X momentum if count last three fall in days it' still missing 13 days which is around 16 of this mnth
so till 16 it's is still in down trend move
based on logic
and 16 is iip data realease of us also
pls make me correct if i m wrong
@ Pankaj ji,
if 'X' is upside, the previous leg is down side. that is from 4801 to 4531. Read it carefully.
DR ji,
You are welcome. My thanks goes to Pankj also for the very reason you have mentioned.
HHEma-HLEma ( short from 4763 ) ended. 131 pts gain.
New long trade initiated at 4632.
anand
I dont advocate Big X
cos I am myself Big X in EW :D
Bulls struggling hard to start
make daily, weekly, monthly & yearly candle green
Thank you sir for the Much Awaited Green box.
Bhavan,
Happy new year. Sorry for the delay. i shall reply to our mail today
:)
No, I am saying big X may start now......
for retracement of 6339 to lows being made now.
Therefore january may be positive month where metal and banking
rally and IT corrects(after little rally, infy from 2950, TCS from
1240 odd levels).
Good Afternoon Everybody,
Dear Ilango,
After intra updates Nifty Monthly Data is still not showing any green color today in last line...Probably I am wrong or probably there would be a possibility of any error either in our TA File or from your end. You are requested to check it.
BNF high broken in last 10 mints
@golfdude: May I know your SL?
76.4% of 4532-4800 is 4590. We went till 4588.
DR sir - Premature to ask but do you suggest going long?
P.S.
But the values are correct there. It is same as shown here @ my end
@ Anand ji,
4640 - 5100 = say Wave 'a' = No. of Days 9
5100 - 4531 = say Wave 'b' = No. of Days 9
4531 - 4801 = say Wave 'c-a = No of days 7
4801 - 4588 = say Wave 'c-b'= No. of days 5(Approximately)
By the above logic c = a+b = 9+9 = 18 days and so far 12 days consumed as of today. Hence
minimum for another 6 days market may go up as long as 4588 is not broken.
The above is just opposite of what you have understood.
@prabhakar - SL - when we close below HLEma.
BTST STBT
AT 3.20-3.25 PM TAKE THAT DAY'S HIGH, LOW AND LTP AT 3.20/3.25...ADD ALL THESE ...HIGH + LOW + LTP
NOW DIVIDE THE TOTAL BY 3 YOU GET PIVOT POINT (PP) FOR THE DAY....NOW AT 3.25 OR LATER BEFORE 3.29PM SEE WHETHER LTP IS HIGHER OR LOWER THAN PP....IF LTP IS HIGHER THAN PP BUY AROUND 3.29 PM AND IF LTP IS LOWER THAN PP SELL AROUND 3.29 PM...
ITS VERY SIMPLE..
Courtesy : Siddharth V
but we have JNSAR and by default our BTST/STBT is with JNSAR
Jayaraman is a fantastic EW analyst. These brilliant discussions prompted me too to share something --
The X or a/X count looks a bit problematic here from the perspective of time and complexity.
As Jayaraman very rightly pointed out , X waves take lesser time than the previous correction, generally 1/3-2/3 time. 5099-4532 took about 10 days. Then 4532-4800 and 4801-4588 have already taken 9 days.
Also Small X-wave (not retracing more than 61.8%) must have one lower complexity level, which doesn't look like the case here.
On the other hand, if we take 5099-4532 as a Zigzag, then this X must be a Flat or Triangle. Now,4532-4800 (268 points) is a.X,then c.X gives a target of (4588+268= 4856). Now, 61.8% of 5099-4532 is 4883. So we get a nice target zone there. 4883 also becomes the invalidation point of X.
Nifty 30 Minutes near channel resistance: CLICK HERE
Huge breakout in CNX IT, if I am not too much mistaken.
@ Anand ji,
There are other possibility exisit, which I will analyse and post it may by tommorrow. But anycase utmost caution is required than what usually one follows in the market.
Bye All... see ya tomorrow
Nope, very close, but 50-100 points more needed to break out.
@Fire - I have same numbers. Good to know I am inline
with the EW expert. Thx
Hitendra said...
DR sir - Premature to ask but do you suggest going long?
*****************
Sorry Bro
Missed your post
Intraday long closed
Rule : Never Jump the Gun let JNSAR trigger
better late than never :D
I can see that you are an expert at your field! I am launching a website soon, and your information will be very useful for me.. Thanks for all your help and wishing you all the success in your business.A year ago, Wall Street was giddy and called for a strong up year for stocks. I was also in that camp, but thought technology and small-cap stocks would be the market drivers. More about Stock Market Price
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