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 ...
68 comments:
This is a clear 5-wave decline from 4922.
If it is a correction, it would be a zigzag kind retracing not more than 80% and another 5 wave decline.
that leaves for a lot of "grind" ahead.
illango ji ,
Short straddles sir ??? :-)))
Master is it a 5 wave decline or ABC correction from
4922? Pl guide.
Kerala Nifty it is JNSAR and not Jansar.
At least get the name rite before even thinking of understanding the
funda :) :). I guess u need a lot of reading and paper
trading to do before u try to swim. Not discouraging but
just trying to help :):)
Check J. Julius post with links.
recalib ...
12:30 price close possible < 34EMA @ 4898
Time to short if we close 13:00 hrs < 4892 (5hrEMA will turn again to down)
Else, wait for EOD, turn of 5DEMA ...
@ Shriram,
A challenge is always made closer to 4930-80% mark confirmation for a reversal.
@ SANPOT,
These are very tiny T/F and fast changing. The 5 waves changed to abc-x-abc kind..
GM all,
Refer to EOD charts. Turned down from 5DEMA.
In this entire down move, whenever it came close to it,
it moved down. Today also.
Has anybody noticed J10 moving above JNSAR yesterday.
tks sir,
wot bout @ other end, supports @ 4870-4878 ??
Co-relating with EW
A: 4837 - 4922 = 85
B: 4922 - 4887** = 35 (39% ),
End of B if 50% comes @ similar Support zone 4880 sir ??
Then C up to =A = 4965 (again a 30mins RES Zone)
Or is this too much to speculate sir ??
Thanks Master.
4880(50%) to 4869(61.8%) are the supports.
"4854"(80% of the last rise from 4837 to 4922) would be bearish.
tats fantastic illango ji , tks :-)
F. Fall set up on Dev hr TA
5-10 hr BEAR x-over if close < 4865 @ 13:00 hrs !!!!
Remember the most important technical fact:
Till EOD confirmation, intraday rises would be challenged most often.
DR - ji - this time 9025 breakes then 8922/08/8825???? so that nifty may place @ PT's place.
PT - ur views too welcome
yes sir :-)))))))))))
Camarilla Intraday Update/Follow Up:
CMP : 4874 12.47pm
Now Consider H4[BUY]&L4[SELL].
premarket statement "mild support above 4882" worked
wonders ilango - shorted at 4910 (day high) purely trusting
this and now holding.
Master & Blogmates,
I am thinking to add some stocks to portfolio add this
level.
Any suggestions?
How is TATASTEEL ,TCS , Coalindia are looking to you?
Thanks
Illango ji,
Below 4854
wud u b inclined to relable the seeming 5fifer 4837-4922 as a simple ZZ ??
or do we wait for close below Dev DLEMA to relable ??
@ sandeep bhoite,
Consider "Cairn" on any declines.
Thanks master ;)
Sir - Voltas also a "buy" upto 75 levels...pls. can check
5hrEMA has changed direction to DOWN @ 13:00 hrs,
second close below < 34EMA,30mins....
Fast rise setup?
Camarilla Intraday Update/Follow Up:
H4 BUY@4883 with 20pts Stop.
@ Master
If you allow me somebody interested in buying can also
look at ITC at 210-220,Yes Bank already 18% down at 300
Indus Ind bank at 280-290 if it comes.
Camarilla Intraday Update/Follow Up:
H4 BUY triggered!
@ Master
I am starting SIP on "Cairn" now.
Regards always !
@ shriram,
Intraday low of 4872 is almost closer to 4869-61.8% retrace of 4837 to 4922 rise.
Break of 4872 would be first danger signal to bulls. This is the point "Bulls" need to resume upmove. Failure at any of the retracement points for the current fall of 4922 to 4872 @ 4897-4903 would signal weakness resuming. 4912(80%) would signal strength.
tks sir,
but if we r playin out a ABC ZZ from 4837,wid
a: 4837-4922,
thn isnt it expected to do c=a , wud cross 4912 easily to ruffly 4965 & yet may b followed by a higher degree Impulse down ??
how do co-relate lables wid the h-lo concept sir ??
@ shriram,
It is one of the possibility of a "mid month relief rally", if there is one.
Also remember this possible ZZ could be part of a larger ZZ also.
By merging TA & TT, we could understand them better.
@Sujatha .. Good Noon .. We are at Midpoint crisis and Lead Indicator has turned down . . . Also 4927 been not scaled ... Dow has been off highs also id today a close below 4880 ... Gap down and tomorrow is friday so friday selling cant be ignore in this volatile environment globally ...
without europe support it is not possible to
hold gains. now no decoupling. all are in one
direction.
down to 4870.75 !!!
tks sir,
going for lunch now... enjoy ur meals !!
"chotta" X-panded flat possibly played out... we may be going down on Hr TA again :-)
but i am in favour of 4943 gap to be filled.
spanish bunds auction at 2.00p.m.
@ master
Your valuable insight for "SBI".
Result is tomorrow.
mAnish .. Sbi heading for 1623
gkm bund auction? :):) LOL
Camarilla Intraday Update/Follow Up:
H4 BUY@4883 on HOLDING
with 20pts Stop.
BAJAJ AUTO declare 45 Rs Dividend ,, Good Na :)
Gone Julius !??
Camarilla Intraday Update/Follow Up:
Trade 1:
Stop matched.
@ Manish,
SBI Tech.Table is available in Stock wealth
1700 is its major support. Any buying should be closer to it with a small SL.
Dr Sir
Nifty shakes a leg & got my Mango Shake...Thanks
Afternoon Everybody...
@ Illango Sir
Last 2 days this 80% thing worked for me.
Lets see how long the streak runs
Your blessings are sought...Thank you
Camarilla Intraday Update/Follow Up:
Trade 2:
As H4 & H3 range too Slow. We can Take our SL
point as SAR.
If give the opportunity to enter SHORT@4863
with SAR of 4883. If it gave one more opportunity
we can consider trade2 triggered!
Note: Already 1 SL matched. I stressed H4 BUY
because of trendline break & MACD. But It failed.
Dear Ilango sir,i have sent u 2 emails 1 week back,but u have not replied
yet.Please reply.
back ->
and smiling , nifty ji ki krupa amar rahe :-)
GA Mynac..
Puravi
Had nice breakfast
now planning for Lunch
http://3.bp.blogspot.com/_CXn2y5B1Ra0/TPsVeYnoA1I/AAAAAAAAFHA/YesQpDmnAKY/s1600/DSC_0008.JPG
@PT
Is this all or something more to come ?
Thoughts ?
New Post Done.
Dear bizagra,
Good AN,
You must be happy @ this moment,& sure about it,that
following & with the trend:)
Change in Approach.
If H3 & H4 and L3 & L4 Range too Small as today.
From next time
Condition1:
if market runs max time inside H4 & L4.
We give entry preference to H4 & L4.
Condition2:
if market runs max time away from H4 & L4.
We give entry preference to H3 & L3.
20pts Stop & Reverse opposite direction.
My intuition says this approach will work on
such low range days. Anyway lets observe this
few days.
Ilangoji newpost not visible.
@Mynac...i m sitting tight..learning from u all...:)
@DR Sir:Lunch is nice Sir with 15 items
@ Powertrade
You can have a Party from me if SBI touches 1623.
"Bear" Party !!!
That suggests it will bring BN and Nifty both down.
Trade2: SELL@4863 triggered.
Low risk traders stay away.
And paper trade.
@ Master
SBI is weak as per the Stock wealth excel data.
Trading below 5 SMA since last fortnight.
Breaking channels downside.
Below Monthly Weekly and Daily Pivots.
Lead Indicator showing downward momentum.
contact : dayakarreddyalluru@gmail.com for
nifty formula file performance report
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