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 ...
31 comments:
For DR Sir & ALL
http://www.youtube.com/watch?feature=endscreen&NR=1&v=791Dr-VH-Zw
stalemate .... Happy to hear sir ...... morning star losses validation ... Tradin range..... I am loving it
Namaste Ilango Sir & Blogmates,
A pause day with Nifty holding on to gains from previous day, range bound moves on the anvil…; Option Analysis for 25-05-2012
Duplicated at Wordpress Site
Thanks & Regards,
Sanjay Kr Jaiswal
I believe Morning star is still valid, and have
studied more charts with similar pattern, I can only
hope morning star to deliver on Monday
@master
sir, what is stalemate???!!!
please give some idea.
thanks.
anmpatel - i think he means to say - further move not possible or standstill/dead or
or may be that place is "check" for further move. check means - :P:P i think "used in chess play" term shiram knows further about this term
PT - hehe as much as i confused your counterpart :D believe hereafter he will send u mail directly to u or sir will not ask here :) by the way only 4 days left :* :( one decision i hv to take becoz one position is of May :(
sujata :
"stale-mate" , if an aussie says, can also means friend, it is stale ;-)
Nifty needs small Gate pass to cross 4960-4993 fence.
Then the fun will begin for bulls :-)
After watching Hrly.Tech Table data ,still do you think so,
Dear Shriram "Then the fun will begin for bulls :-) ?
morning star should occur at lowest point,which is not the case here
what's the opinion of candle stick experts
those who live by candle,die by candle
@dhirendra
harami's deliver,not stars
morning star has already delivered, and considered abandoned baby
Shriram - I can't bring heavy stick to beat you but can beat you with "drumstick" if u cross 4956..hurrey give me simply 4888/55/830/809/5 then again i will give back to you all u all kick the ball and play wherever u want.
OMGGGGGGGGG - tooooo bad...pls. listen to me on Monday atleast
@Sujatha Ma'm: I am not sure, but I am hopeful that
nifty will cross 4940 on monday & next stop is 5050 only.
Why? Rather than saying that nifty resisted upmove above 4925-30 levels,
i see it as nifty id not fall below 4890 yest & 4860 on thu.
If you see nifty supoprts is rising - it was 4830
then 4860 & now 4890.
TO ad to it, from Sanjay sir's OI table looks like
the last 2 days of tussle has led to puts > calls for
4900 which somewhat says that 4900 may not give way so easily.
Prabhat - mm.. i am with open mind only -y i am holding?? SPOT hourly/30 min. bulgy + in hrly there is -ve div in macd histo + stoch on the top atleast can get 50 pnts if global cues bad + expiry time may get more so taking risk will adjust in intra. Really thanks a ton for your "concern and alert" that's always good to share and educate :)
May has been a month of pattern faliure
Be ready to see Expity wih just a trifle notched below
4700 -- 4696 :)
As anticipated market gave correction after completion of Wave A and Wave B may correct to 34% and this implies market is waiting to go higher side. From the chart given below, market is making a irregular correction of Wave B. If my understanding about this irregular correction is correct market may touch 4900 zone during the opening session on Monday and it may attempt 5100 zone in 2 trading sessions or slightly more in time as well as price.
Wave A = 4805 - 4932 = 127
Wave B = 4932 - under progress and will terminate around 4890 zone.
.
Alternatively
Wave A = 4805 - 4932 = 127
Wave B = 4932 - 4914 = 28
As per my understanding, in any case Wave B may not correct more than 34% to 38% and there after Wave C will resume. In case market breaks 4890 one can expect the lower level target of 4866 and in such scenario the higher level target will get corrected by 25 points which is equivalent to initial target worked out couple of days before ( 5071 )
CONNCLUSION:
Initiate long around 4900zone or at current level for a target of 5100 in 2 to 3 trading sessions.
OMG - PTTTTTTTTTTTTT wat a strong "bear man" if it comes
i will offer "one more coconut to ganpati pappa" in the name of "you"
little bit work pending for my conclusion i worked out for short term which i hv posted to Prabhat let me see 2morow.
Jayaraman sir - மாசக்கடைசியில் எதுக்கு சார் வம்பு மேலெ போயிக்கிட்டு அப்படியே கொஞ்சம் அமுக்கி கீழே விட்டுடுங்க வெயில் தாங்கல மார்க்கெட் லொல்லும் தாங்கல
Hello everybody
Plz tell me guys kya nifty nichey jyga? Nifty dint cross4937
@ illango sir,
Sir im a follower of raff regression channel and the
gaps theory, as per my calculation nifty has got a
stiff resistance at the level of 4950-60 on monday
(& also since last monday), the gap from 4646 is yet
to be filled, and we are very close to both the expiry
and the said gap, also on the weekly charts the RSI
reading is 35, and think that the market has still got
the room to go beyond 4600. pls correct me if i'm
heading towards a dead end.
To all the great people adding value to this blog.
I have been reading this blog since last 2 years
Trading since last 5 years
Making consistent losses.
I started following this blog since last 2 months,
and i have recovered almost all of my losses.
Thanks a lot ilango sir.
I read each and every comment on this blog but cant post anything due to restricted access in office.
Thanks a ton to all.
Saud
Dear ilango!
Nifty would end above 5mema (above 5100),
since this expiry is on 31st and i could spot an inverted H&S pattern formation
(i am not good at this,but up to my knowlrdge)in nifty hourly chart.whats your view?
In continuation of my earlier posting the STRICT STLP is to be observed as 4860.
FII sold almost 2 lakh contract of nifty futures
to the tune of 4500 crores. What that implies for
this expiry?
As per common logic, during last week market punishes
the traders who are already in pain. Coupled with
FII's huge shorts in index futures, I guess 4700 is sure.
4600 can be seen before we expire at 4700.
Mynac and other OI analysts view pls
Friday Market made NR4 & NR7 Setup.
I consider 4940/4880 as important prices
on Monday for the further direction.
If u are Long ... Be Ready with Parachutes for safe landing :D
Pardon Ilango sir .. Too Much Bearish ... Me
But This is not a bull case if ever i have studied produced here
@Sujatha
My gift this week to my sister 4696 - 4644 - 4592 :)
@DR Sir @Kumar Sir ..
Ab bus aap dono ki dua chahiye ... App bhi thoda
sell karo na please ...:)
OMGGGGGGGG- PTTTTTTTTTTTTT brother - that's mouth watering target for us..mouth watering irritation for bulls :) NF open below 4900 will show weakness first i didn't rule out technicals but wat i feel is "this may be well bull trapped"??? if asia shivering and wetting early morning dow -ve impacts means v will be -ve . yeah..sir/dr/kumar sir's "krupa" definitely chahiye :)
OMG - all should be "well for bears and bears only"
Dear Mynac,
one line answer as far as my trading decision concerned: I will be into longs if nifty closes EOD > 4993, and into shorts if we fall below 4895 for 2 hlf hr candles !
cheers
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