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...
29 comments:
Friends, actually I feel like thanking our friends, because of whom these topics were started. Otherwise, we would not have received THESE GEMS from the MASTER. Thanks Friends, DR Sir and MASTER.
I condemn DR. Am not against his knowledge sharing for fee. It’s his personal opinion. But for the act of tempting people since couple of months about his course and now releasing it for fee. I completely agree if he has not done any announcement here at JN. But he has made the announcement in this blog which has huge hits. If DR says that announcement was unintentional, then he should allow the same space to others too. I still remember he was slapping golf dude on his face saying that he was fishing. As far as I know, Golf dude was clean soul who is striving hard to find rhythm and he has contributed in many ways to this forum. I really wondered not even a single genuine support for him when DR was questioning him. This is just one instance. But today, no one is genuinely raising a question with DR.
There are several codes for JN which all the senior members are talking about. I don’t understand how one should consider and digest this act.
Am sorry DR but I wrote the fact what I thought.And, it does not mean that am against DR. It does not mean that difference of opinion is making a person against one person. It’s just a conflict which matured minds can understand. I too admire other contributions of DR.
Again,I request the genuine souls to think before getting into herd mentality. It reminds me Rajinikant’s support to Hazare after getting 60% of his fee in black.
@ Nanjil,
From the GREEN box of Illango Sir, it is clear that DR is having the blessings of Illango Sir for the ongoing project and regarding charges, the communication between Illango Sir and DR is brought to open and it has given insight into DR ethics. So I don't think he has done anything wrong.
Regarding GD issue I have not come across the incident. If DR has done it then certainly it is regrettable.
But I don't understand how somebody can really make money by fishing over here ( One occasion I came across such comment). Unless you have inherent strength in the market you can not make money irrespective of the fact you are a Trader or Technician or Techno Trader. At the maximum one can disturb the rhythm of the discussion and divert our attention like right now what we are all doing.
In my opinion, we all must ignore all these distraction and concentrate in sharing of knowledge and to some extend for stabilizing our emotions we come across while trading.
@Nanjil,
I completely agree with Jayaraman here!
After DR sirs announcement regarding fees for OTA
course, I was stunned to know that, PRINCIPAL itself
has broken the rules, & yet NO ONE (old members)has
raised the questions here.
But Ilango sir now has cleared all the doughts very
boldly & again proved that he is a real gem not only in
markets but in real life too.
SO its my humble request to you & all JNmates to leave
the issue behind & lets use this platform for healthy
discussions only, ofcourse under the watchful eyes of
principal DR sir & Master Ilango!
4760 BROKEN WHAT IS NEXT
Yesterday when I posted I said 4760 locked as the highest target, I said I need to rework if it is broken . The highest target is broken.
It implies Wave E got terminated @ 4588 and intra day the abc of E(2) completed. Hence the label will get changed as follows.
WAVE A = 5700 - 4720 = 980
WAVE B = 4720 - 5382 = 662
WAVE C = 5382 - 4639 = 743
WAVE D = 4639 - 5099 = 460
WAVE E = 5099 - 4588 = 411 ( Not 4531 )
Now, it is clear Wave 'F' is under progress and it has to cross the fall of E in faster time. Today movement clearly indicates 'F' is under progress. Now the next question is where it will go? As per Neowave logic, the 'F' Wave will retrace some part of wave 'D'. It means beyond 4800 it has to go. Also by observing the earlier fall and retrace level one can notice approximately 62% to 80% retraces from the earlier fall. Thus it is safe to assume the highest possible target is 4997 with tolerance limit of 20 points. In fact in this particular count there is no need for tolerance limit, but to be safer side this tolerance limit is given.
Also note E has taken 18 days and time consumed by other legs are given below; Please note time similarity
is one of the basic character of Diametric and thus the following information one has to keep in mind while trading with price of target of 4997 as Wave 'F'.( With tolerance limit of 20 points)
WAVE A = 5700 - 4720 = 980 - 23 Days
WAVE B = 4720 - 5382 = 662 - 41 Days
WAVE C = 5382 - 4639 = 743 - 18 Days
WAVE D = 4639 - 5099 = 460 - 9 Days
WAVE E = 5099 - 4588 = 511 - 18 days
As per my understanding Wave F may consume minimum of another 7/ 16 ( total 9 or 18) trading days. After completion of Wave 'F' , the next leg Wave G will start towards down side. After completion of Wave 'G' we can anticipate Wave 'X'. So we are far away from Wave 'X'. So devise your Trade plan accordingly.
@ Nanjil,
You have got it wrong.
DR isn't fishing for business which I, even today, do not allow in this blog.
DR was made to charge a fee by me & his friends as he'll be spending "direct hours" with students to guide them in "Practical application of technical analysis".
DR isn't giving "Trading calls". DR is giving "Technical analysis" course.
DR has shown over the years, how capable he is by way of "Discipline and following one's studies".
It is his this characteristics which encouraged me to insist to him that he charge a fee for this course.
Please do not mix up DR with "Trade call service providers".
DR's endeavour will make those interested to be "self-reliant and independent".
Now as Green Box Came.... I think all discussion will be over
And there will be FullStop on this topic.
@Ilango Sir thank you for explaining ...as many of the
readers were not aware about this.
I removed all my comments .... no more discussion on this topic.
Guys pls pls focus on the purpose of this blog. Do not
lose focus. Focus on building wealth slowly and
steadily. All side discussions are for sattvic
relaxation and should not be for tamasic or rajasic
agitation.
If DR is charging a fee it is his business. If u do not
wish to pay dont buy. Simple.
If DR is chiding others for fishing or breaking rules it
is his karma. Why pass judgement? I learnt a simple
funda in school. One finger pointing at others means
three fingers pointing at us. When Ilango has authorized
DR to do the needful why pass judgement on what is right
and what is wrong. At least have some faith in the person
whom u otherwise revere so much.
Now after all this hullagulla, I suddenly got an
intuition that DR will make a surprise announcement. I
do not know what it will be but it will be very good and
will make tomorrows ekadashi perfect.
Chill guys and enjoy the long position.
Ilango,
No more dragging on this. समाप्त!समाप्त!
SometimesBullsSometimes bear,
From your posting, one could guess what sort of announcement he is likely to make. What ever be the good announcement I pray to Almighty he should not do it immediately. If he does, it is the triumph of evil forces which pop up now and then in this blog. I wish he continues to keep silence regarding the course he offers. If he has already made up his mind to announce something good in this regard let him reserve it for some other good occasion and certainly not this time.
In fact I am ashamed to put this posting here since indirectly we are coercing him to do something which was not part of his profession.
Let us stop this here and start discussing about tomorrows market.
Namaste Ilango Sir & Blogmates,
The positive bias of yesterday got extended today and how; Option Analysis for 03-01-2012
Duplicated at Wordpress Site
Thanks & Regards,
Sanjay Kr Jaiswal
@Sanjay Jaiswal,
Thanks for the posting. It helped me to foresee the market.
Wow. I was out all day. I saw a "GD" reference here. Hope I didnt do something wrong.
GD LOL :)
Jayaraman Thx I agree totally.
Somebody was asking for time line of C. The details are as follows:
1. If B is lesser in time to A then C will be A+B
2. If B is unduly larger in time to A then C will be A+B / 2
GD nothing man....
94 pts in HHEma-HLema trade ( 4632-4726 ) until now.
I closed all my positions as I had to step out
due to an emergency. Good luck to others holding.
@GD,
Some new Bloger, Actually he must be older than me in this Blog, has vitiated this Blog successfully and all the posting for the last 10 hours is testimony to this. As a passing reference your name is involved in this. Nothing serious about you. It happens in the heat of moment. Just ignore it and continue your learning.
We are here to learn and not to fight for ego satisfaction. Something has to be done urgently to stop this non sense. Some sort of out of Box solution is required to save the noble intentions of Illango Sir.
Blog mates think it over and do something good.
``
@jayaraman,
Any good reference to learn "neowave". I know only
basic EW stuff ( following Beckman book ). Thanks
@ GD
P;ease read "Mastering Elliot Wave" by Gleen Neely. Read it by correlating it to market condition. It is time consuming and may be couple of years are required to use it properly. Also go through the question of the week of their web site " Neowave.com"
Since you are already reading Beckman, it may not be that difficult to understand the work of Gleen Neely. But patience is essential.
All the Best and Happy Trading/
Hi,
I want to know what is open interest in options and how it help is assuming the market direciton..
I am new the this option trading.. so please help me in understanding it.
Thanks
@ Vintech,
Please don't enter in to Option. First understand this market at least for couple of of years. Understand various Technical analysis Tools and subsequently when you are confident you have learned at least 10 to 20 percent of technical tools enter in to market. Other wise you will lose money. This is a Business, which needs some breathing time to give results.
Patience is the paramount factor in Stock Market.
Please have patience.
ILango look at the Gems we have here - 1) Fire, 2) DR, 3) Jayaraman, 4) Seetesh, 5) Mr. Kumar, 6) Sanjay, 7) Sujatha and many more - god good (Love them all)!!
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