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 ...
45 comments:
Dear Sujatha,
:)
As the trend is very clear cut down, even 4960 would be big hurdle here for today or even tomorrow or a day after, nevertheless, considering oversold condition if the pull back shall be there then, ready for even 5005 to initiate trade…5915 would be litmus test for Bulls.. if. in case Nifty shall come there….
Dear Mynac!
5915 really..............:)
Information only ;
At pesent 14 HOUR High = 4946 & 3 HOUR LOW = 4923
I will not be either bearish or bullish till JNSAR,
triggers for me the trend is down.
Typo;;;
Pl read 4915 instead of 5915
mynac - u r talking abt 4915 DLEMA???? if that's right then coincidentally bears favouring there 50% of weekly fibo level
Positive clues used to hammer
sorry - not weekly INTRA FIBO
Dear Kumar,
:) Now when & whether it will come don’t know, in 2013 or 2014? but at least it is “here”…:)
He probably means 5015 :) :)
Not until 4750. :)
Dear Mynac!
Dont worry, i am with you. If 4750 protected then it will come before this Deewali:)
Dear Sujatha, very true… and Bulls would like to save it and probably would save it for the day is feeling here…nevertheless there shall not be any dramatic immediate change in current situation… when Nifty broke “5220” on 3 rd May then from there after The blow is so hard that, it would take too much time to recover…
Master,
It is once again into the channel below 4940..
Is there a chance of one more down move
Ilango sir..5 down waves seen...now abc going..plz confirm..thx
taken support at 89 min Ema???
http://bankniftytradingchart.blogspot.in/
converged
bull managing 100 SMA
Mynac- thanks a lot :) am restless in OS mkt if any "green box" seen will be get relief :)
hurry up hurry up PT "villain time"
@ bizagra ,
A 5 waves done from 4869 to 4954 and an "abc" is done or still continuing.
@ Lakshmi216,
If "4885" is broken, then another downmove is possible.
Till then, play this Hour TA reversal and depending on day's close - if above DLEma, trading mode and if above DEma, a reversal confirmation.
MACD is not telling good news for shorters!
Master this time can touch day's high??
only 10 pts day high
close above 9300 BNF can give gapup + reversal
Kumar Sir
BTSNM?
Dear D R Sir!
If 4950-75 area crossed today then enjoy last hour stampede in bears camp:)
Chotti si Asha
Marubozu in BNF
open & low
close & high
same
Marubozu is the most bullish of the candlesticks
http://static.incrediblecharts.com/images/png_images/candle_marubozu.png
Camarilla Intraday Update/Follow Up:
Trade 2:
H3 SELL@4931 stop matched@4951.
Trade Closed. [20pts Loss].
Last failed strike 14H. H. 5279.5 on 2nd May.12
To day mkt made new 14 H.low and now hits 14 H.high.
14H.H-L breaks, high probabilities of trend cahange.
Reasoning may be bears fail to make new low and bulls
shows strength to force to reverse their position.
Sustaing and making new 14 H.high will be confirmed by
JNSAR triggers.Now wait and see the game.Unless new
14 H. low made agin.14 H.high-low (app.2D.H-L)SLO.
3.00PM TT updated.
Camarilla Intraday Update/Follow Up:
2 stop matched today. As per risk management
one more trade can be done. Time 3pm.
Better Avoid further.
Loss today 40pts.
For aggressive trader if double reversed on
1st trade 60pts Loss.
Camarilla Intraday Update/Follow Up:
Camarilla Trade for today finished.
Paper trade H4 BUY@4953 triggered.
25 mins for market close.
& here goes my prayer
http://www.youtube.com/watch?v=SqHiyRxykZw&feature=related
Click Here to see performance of
Camarilla Trading from 02/05/2012.
BANK NIFYT 14H. HIGH 9464
JR JULIUS SIR BAD DAY. TOMORROW WILL BE A BETTER DAY
might close below DLEMA !
@Sujatha
Taking home the bears
@eevra: Dlema is 4914 !!!
Ilango Sir,
Would it be possible for you to post your valued
opinion regarding markets before day closure.As it is
I follow the premarket view religously.This would be
an advantage to all of us.
Regards,
Prasad
Cat on Wall
Pulli tired
clue for tomorrow nifty?????
holding day low ema and closing above it, while unable to cross daily ema, its a trading time...
Closing below HHema ?
@ master
according to HA level, trend reversed today, as nifty hit 4945.75 and close above tomorrow level 4928. if open tomorrow above 4928 then more high possible. anyone taken long according to this system that will be SL i.e. 4928.
@Mr.Sandeep,
Yes. :)
Thank you.
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