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 ...
124 comments:
Dear All
European futures are up by 0.50 to 0.70%.
Nifty is trading above it's DHEMA.
Crossed 50% retracement of 4956 to 4805.
@Ilango Sir,
Can we term this as reversal
PT
4898 channel breakout
@ Master
"BN oversold in ST could rally if 9100 is protected".
(Stock wealth)
Master tusi great HO !!!
@Ilango
Sell on rises at play now???
@cooldent
thanks a lot JNSAR to trigger ho gaya
soooooooooooo nice sir
PT bhai :(
JNSAR triggered again. Closing shorts :( :( and going long.
Now every time nifty is rising i feel like crying since I missed out.
Failed to enter at 4830 thinking it will hit 4808.
Failed to enter at 4860 thinking it will hit 4844.
Failed to enter at 4877 thinking it will resist.
Doubting to enter at 4897.
Feels so bad to have missed out since I was all gearing up for 4900 calls from its bottom.
Nifty sucker punch me right on my nose.
jnsar triggered
@Ilango
if NS cross 4897 (and wishfully close above) the DHEMA which 4897 then we are back in Longs...Correct?
@Mynac: Vey big question, even when nifty was at 4897, 4900 call was trading still at 57 levels while it was just 3 pts away from being at the money. What is happening? Something fishy?
@saurav
All gone .. :( :(
Market is Supreme!
40+from H4.
SIR HOW I CALCULATE ANY STOCK SAR LEVEL...PLSS TELL ME SIR
ITS VERY HELPFUL 4 ME
afternoon Seniors
@Mynac
Reversal ???
eyes on 4960-4965 to complete the FLAT..
above this we may be in a higher degree reversal :-)
for now trading > 34EMA @ 4863 is bullish !
@ subho
Please check the SAR level of your stock in Stock
wealth section.Nifty and Nifty junior.
Regards !
PT bhai,
After having been a bear... its very difficult to change colors and become bullish just in a matter of few minutes.
The fight is not outside... the fight is inside!
@Ilango
My reasons to sell at these levels are:
1. Invalidation point at 4926
2. Oversold TA bounce currently
3. JNSAR whipsaws after a big move trade
4. Double top at 4956-57
If you do get some time, could you share your views
on my thought process
At EOD I left in my notes "Beware of developing 'Morning Star". It got confirmed. But.. Knowledge is irrelevant if I don't apply it for my benefit. Kept shorts and closed to day at breakout. I record this here that at least in future I will try to apply.
LV
Any corrections from here should limit to 5DEma-4871.
@Saurav
I will be out at 4915 sisters Level
Thanks Ilango Sir
Some good buying in Nifty heavyweights.
Next price watch last high of 4956.
Desperate up move above HHEMA. Lets see if it
sustains.
Dear PT!
As per me its reversal, any close above 4910 mean 5050-5100 in expiry so keep an eye on closing now. 4910 close mean, JNSAR also will be favouring bulls:)
@ Indus,
A 5-wave upmove could be over..(unless sub-divides further). The logical support is 5DEma-4871.
Watch the corrections...how it unfolds - corrective or impulsive.
@PT: I am only a small ant. I am not match for your skills. But one thing is always said by master. Nifty turns into positional buy from intraday buy when it crosses the WLema which in this case is 4918. So once it crosses that, I have no doubt in my mind that we will hit 5050 for sure unlike last time where we reversed again from 4957 levels. This time it will cross that level (4957).
I think high risk takers can go short here with WLema as SL
Please correct me master in case I am wrong.
@Kumar Sir,
Thanks a Lot :)
Kumr sir - leave the teddy bears outside
PT - check mail - all my intra target done - me buddhu lady didn't trade well hereafter thinking of
only intra for sometime :(
Dear PT,Indus,
As Nifty is trading very comfortably above 4890 it's
very tough for any immediate reversal,so does not look so.
Hrly.Data does not favor any immediate down side from here.
Nevertheless would like to
see,at-least 4890-4875-or max 4860... in latter Hrs.should be considered
as just wishful thinking.
PTbhai,
The way the rise has come is of concern... I think I acted a bit hastily in closing the shorts.
I am a firm believer of the statement -anything that takes time to happen, happens with conviction and happens for the good.
Today's Nifty movement does not seem to be falling in that. Lets see... EOD will throw in more light.
Dear LV!
Thanx for sharing, INR was against bulls since morning & even then Nifty was not falling. Master also cautioned near 4855 that price behaviour not supporting bearish view so be cautious next time & take care of your loving heart:)
@ Prabhat,
Though we expected the "last fall" to complete the downmove, we realised it when the prices were stalling & not impulsing down. Accordingly alerted the SL-@ 4848 & 4852.
Intraday traders would take that as a cue for strength and go long OR above 4871-34 Hr sma.
Master ilango, now clearing the channel top we should
head towards 4950 approx levels right na.
Opinion
Nifty sopt 4926,(80% of 4956 to 4805 )
= > DHEMA & WLEMA > JNSAR
Will be the safe to considered for longs.
Below WLEMA may be the whipswas.
EOD or 3.15 PM index safe for trade.
@Prabhat, blogmates, master
the only way i figured to be disciplined and take actions.. As preached is this-
Check out nifty spot and JNSAR levels (hourly, day or any other EMA,SMA u use to follow trend) now chk nifty future level at same , assuming there is discount or premium eg.-
Day.jnsar was at 4886 and nifty futurevwere trading at 15 point discount. So I put a s/l buy order for booking my short and goin long at 4870(15 point discount in NF) . Now whenevr Jnsar gets triggerd , System will do its work without letting me think. All i have to do now is go and put a s/l sell and reverse at 20-25 points below it for the day. So 4855 .IF nifty breaches , I will be short again.
HOPE THIS HELPS :)
P.S.- the above eg. Can be modified based on other indicator, EMA,Fibo levels according to your daily plan.
Trust me DON'T THINK WHILE MARKETS ARE LIVE. JUST DO IT!!! Let thinking take control after market hours, before daily plan.
Master hope this is right approach for novices , with less experiences. Apologies if I gave wrong approach.
Regards
Discipline
BNF must sustain above 9450 for reversal
else thud sound
if not 200+ more to come
it will give a short here for sum pionts
@Ilango...thank you
@Mynac....thanks for your prompt reply...however,
looking to sell on rises as a positional short
@ Prabhat : you are not alone..
Sir
Last day close was below LEMA.
This rally should not be considered as short near HEMA +10/20 level.
i.e around 4920.
Also. 35-hrD is reaching mid point and Daily 5-D is coming down from midlevel.
What can be SL for that.
@Master: I was hinting at taking positional longs rather than intraday longs. I recollect you mentioning to me once that once price crosses the WLema, one can retain the long positions that one has taken once price crossed HLema.
Thank you very much Dr.Kumar. I am just out. Did not enter again on long side. Will decide at EOD.
Thanks once again and regards.
LV
DR-ji - want a "thunder sounddddd" please
DR Sir,
Thud sound please
34EMA support now @ 4865 ...
as long as this holds, shud see 4960 @ min...
Uske baad tyre FLAT hota hein ya PLANE ki Udaan bhar leta hein, samay batayega
Nifty ji ne ek baar commitment kar lee, to uske baad to khud ki bhi nahi sunti ;-)
@DR
THUD THUD THUD.....if not today, then by settlement!!!
@PT
Hang in there!!!!!
Has anybody taken the JNSAr or have I made a fool of
myself again!!
@Sujatha
Eat lunch in peace...good for digestion....
Yash and Dhan
Hold with sl of 4871 now
Kumar Sir,
is this morning star developing in Day chart?
Indus - No "lunch" now - self punishment as i missed"my intra" i hv to adjust my missed "trade" as per me game is with 94 level then sensex should go to -ve with 50 pnts enough all in the game again
Suj sis God is busy trading so dont disturb him
during market hours :):):)
Ilango sir..as we are out of positional shorts..wht can b good level to short again??
Thx
@Sister
Please bring early
Dear Indus,
“however,
looking to sell on rises as a positional short”…
Very true…no doubt about it …nevertheless even in down trending market also why we loose too many points? When we go short?
The reason is very simple… we have no patience because we have no discipline. As well as trade plan… :) If a trader shall wait patiently and shall track at least Hrly.Tech Table data then also
He would not stick “too” badly…and Strict S/L is always handy in any kind of situation.. :)
Ilango ji,
In hourly charts is this Wave C running of 4th wave ??
Yash and Dhan,
I am there with you dost! :)
@Mynac
Me best example ... here :(
After fall from 5280 or 5125 the 'B' wave is in movement.
From the fall from these level triangle formation possibility exists. It implies look for 168 / 246 points minimum from 4789.
Already 'a' of B is done ( 4789 to 4956)
Also 'b' of B is done ( 4956 - 4804 )
As per my understanding presently 'c' of B under play and its ivth under play after extension of iiird. May be vth is due.
@Sujatha
Below 4860 NS, bears will have an advantage...golden
ratio of today's intra rise
@sujata,
you certainly have hotline with god. (Aap ki pohoch to bahut upar tak hai)
Thats why nifty ji oblige to you everytime.
seems like the 200 MA is attracting NF
PT - watch day chart (i may be wrong) the candle cut is from 4894???
mynac - I am planning pakka - bit confusing often with postional and intra
OMG - thanks a tonnnnnnnnnnnnn
Sujataben LOL :)
Master,
4871 broken
now ??
PT - i booked out here... it should take support here danger again
aim - hehe...no that's technicals only - but always wants god's help too
@Ilango
1. JNSAR reversal triggered
2. Trading below 5 day sma and 5 day ema
As per your premarket comments, one more down wave pending
as per EW
Is this the time????.....would appreciate your comments
@sujatha
me to booked
Sapad time
http://3.bp.blogspot.com/_n0iUOJAYC7o/TS7r0oS4EVI/AAAAAAAAACk/IqYLi3_TYX4/s1600/Choley%2BBhature.jpg
@Ilango Sir,
Same question as per EW is the new low pending ?
@Sujatha
checked it was deep cut but 4817 should not hold for more low
Opinion :
Mkt.usually gives intra bounce or bottom fishing buys,
may be shrot covering by baby bears who traped.
Better to trade on Support/Resistantce
I have observe for short better to mark 3 hour High_low
and short when 3 hour low broken.
Have visual looks on charts after break of 5279
almost every day one trade but sound slo 20
If NF sustain 4900 level than next target will be 5020-45.
Lets see some good news on card for market.....
PT - looks like taking temporary support grind and come down it seems
NeyaZ - hi hi "mei hoon na" easily will not allow upside praying for moreeeeeeeeee low
@Ilango sir
Guidance please
neyas ,
In this room ,if good news comes market comes down
and if bad news than it comes up
@sujatha
thanks a Lot
Dear Chetas!
All star confirms EOD so best to see after 3.00 pm. Bears are strong so hourly movement good for intraday only, best Morning star will be if it closes above 4910 today:)
can ne one suggest me good book on options, only practical knowledge and no thery and formula!
nahinnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnn !!!
Another JNSAR whipsaw!
Camarilla Intraday Follow Up:
Trade1 H4 Buy@4863 moved upto 44pts.
One can easily booked 22-25pts.
Trade1 Closed.
Trade2 - Scenario 2 - Nifty Spot
H4 4863[BUY]
H3 4849[SELL]
*Level Range 14pts. From entry one can use
20pts as SAR instead of SL. Personal decision
advised.
nifty has support at 4845-4870 resistance at 4900 courtsey http://tradeinniftynstock.blogspot.in/
Camarilla Intraday Follow Up:
Wait for next Trade
Till 4862 could be accepted as corrective, paving the way ahead for more rises.
Break of 4862 again would be early indication of more downsides..
2.00PM Close below 4872-21 & 34 Hr smas would confirm it, if so.
amrendra - always the best guidance and result - visit
http://tradeinniftyonly.blogspot.in/
To All
German Mfg.PMI 45. France Mfg. PMI 44. very less than forcasted it fig confirms europe in reccession.
mid-point crisis in play ?
Mr. Kunduuuu - nahinnnnnnnnnn i will post when it will get trigger :) hehe
Kumar Sir,
In that case, will review near market close.
Thankyou very much
masterji, nifty ji ki patloon 2 bilaan chhoti kar do.
Billu LOL I never understood that ad but am eating
more 5 Stars :)
Third time in the last 7 days JNSAR whipsaw
@sujatha bigger is commming on way
itna bada naam likhte likhte confuse ho gya sometimebullsometimebears :)
As posted earlier, daily was down from midpoint and hourly
was reaching midpoint.
Shorted at 4895 based on trade plan to short near H-EMA.
with SL 4920.
covered at 4860.
Thanks Ilango sir. only able to make trade plan by learning
from this blog only.
Poor bull did not see Sujatha ma'm standing at the doorstep of 4900 with a stick. She is currently chasing the bull away....
Nooooo ma'm.. please give the bulls some good green pastures to graze.
is it ending diagnal on 2 min charts? this means correction over?
Holding 50% retrace at "4857", it could resume upmove. Confirmation at 2.00PM, if closes above 4871-73.
@ Billu Bhaiya ,
You seem to be "quite an experienced hand". Great.
Please forward this touching message
from a mother to her missing sons.
It could help her to reunite with her lost Children~
"Beta Ramesh, Beta Suresh, agar Pitaji ki patloon aik bilaang chhoti ho gayi ho ghar aa jao. Pitaji tab se yun hi ghoom rahe hain....!"
Prabhat - NO "graze" or "grass" also for bulls once again need more downside atleast 40/20 level
till nifty dsnt give a close above JNSAR it may be always sell on rise.
Took support at opening high. Now looks like another
trajectory upwards.
no illango bhai i m not experienced at all, i m reading pretcher just 12th time.
Boarders
JNSAR Long or Short Today Now ???
OMG - then 2 pm close should be below 70 level pls.
STB - go go up i am standing there for what to do??
bhaiya - I am reading the "Name - pretcher" 12th time apart from that NIL
whopping addition in OI of 4800 & 4900 Puts.
4800 calls shedded more than 8Lakh
OI expperts (Mynac Sir & Sanjay Sir) please throw some light on this.
sir,
What about Midpoint-crisis ?
@ DR Sir
Ha Ha !!
@ Mehar ,
Midpoint crisis has been "averted"...safe presently.
back -->
34EMA,30mins supporting the dips...
4960 is still on vide c !
A close above 4887 at 2.00PM would be "above JNSAR".
Good Afternoon sir and friends. Is this again reselling
area ?
Dear sir,
Looking at daily chart, we are in wave c of wave 2
and todays high completed wave 1 of wave c. Please
do correct my counting ?
Thanks
@Sujatha ma'm: I smelled the upmove just as it began. So currently I am riding the bulls on a 4900 call :) coming to 4900 boundary once again.
New Post Done.
@ilango sir
Saved Closed below 4887
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