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 ...
54 comments:
Ilango Sir: whenever you mention "close above"- it means
hourly close , right & not a close in lower TF candles
like 5min any time.
Pls help me understand the term , at your leisure ( if
any !!!)
P.S: am referring to the conservative trade positional
of today's.
Many Thanks.
Good Morning Master & Friends
sir ji,
good morning.
please guide how to arrive @
from to in retracement calculations
GM master & to all friends.
Namaste Ilango Sir And All.
@eevra.
In the conservative trade, sir has mentioned as DLEMA.
so it is days lowema.
Good Morning Ilango Sir and Friends
BANK NIFTY Support and resistance: CLICK HERE
Good Morning Sir and all.
@ eevra,
"Close above" here means close above at EOD.
The reasoning is: If Nifty is able to find support below 4800 around 4780, it should also do a "reversal" with prices closing above DLEma, most preferable would be a close above either 5 DSma or 5DEma.
Namaste beloved Master and all friends
May God grace us with wisdom and prosperity!
have a nice trading day
@ Ashish Agarwal,
I always look for the form and a "v"th subwave for the fall from 4956 should end logically below 4805, around 4780. S2 & Camrilla's L are also around that point. Hence a fall below 4780 would mean, the sub-wave labelling need to be changed and Nifty may be attempting the monthly channel support @ 4720-35.
hi guys,
I will try to post IEOD data in my site. Here is the link http://forum.niftyewa.in/showthread.php?tid=2&pid=2#pid2.
regards
vikram
Good Morning Ilango Sir & all Blogmates
Rgds
Saravanan
Namaste beloved Master and all friends
@ suresh,
How to arrive at the "From & To" in the Fibonacci table:
Knowledge of EW helps.
Knowledge of TA with "exhaustion points" help OR a minor LH & LL or minor HL & HH helps.
Useage of intra charts help.
Basically experience of reading charts should help in identifying a minor top & minor bottoms which would lead you to identify the major tops and bottoms.
TT too helps when prices reverse to close below HEma in uptrend OR prices close above LEma...of different T/F.
Namaste Ilango Sir and fellow bloggers
LV
sir ji,
thank you
Pranams Gurudev.
Good Morning To All.
@Master: You spoke about going long if nifty takes support
at 4800-4780. But what if nifty opens above 4850? Should
we go short at 4860-70 levels for tgts of 4800 or go long
for tgts above 4900?
Goodmorning Ilangoji and friends. Nifty opening exactly at CAM H4 4863.
@ Prabhat,
"4875" of 22nd 3.00PM high to 4885 are resistances.
Master ilango and friends,
good morning to all
☺☺
nifty in buy mode while BN in sell mode. wonder who will
gain control over the other.
GM sir and friends :)
Prayer - OMG protect Nifty future here and give me 4890 atleast thoda help pls
good morning sir and all friends.
Good Morning Gurudev and friends
Good morning ☺ Ilango Sir and all blog mates
4836 < ORB > 4868 (NS)
4823 < ORB > 4842 (NF)
@sujata,
as you have arrived and expecting upward jorney Nifty will obey your order. Last few days it is doing the same. Yesterday when you left around 2.30 it was lost could not decide whether to go up or down.
Good Morning Respected Mr.Illango,
My Beloved Master Mr.Dinesh Rishi
& All Blogmates, Have a Prosperous Day.
Yesterdays after market post by sir.
Market is closer to two critical channel supports 4800-weekly & 4720-35-Monthly. Major falls would be likely below these levels. Nifty has made a top @ 4956-57 twice and the same would trigger a short covering/ buying. One could keep the retracements handy to enter early in case of a reversal. "Sell on rises" continues for this settlement.
Sir what is the reason behind it(sell on risees for this
settlement).
@Ilango
In a follow-up to Prabhat's questions, would the current
levels be an aggressive intraday short with a stop loss
at 5DEMA?
Camarilla Key Levels
H4 4863[BUY]
H3 4849[SELL]
L3 4822[BUY]
L4 4808[SELL]
Scenario 1
Good Morning...................
good morning, seniors..
GM Everybody...
@Master: I am thinking to go long with crossover above 4852
with 4836 as SL for tgts of the resistances you mentioned
(1 lot covering at 4875) & the 2nd lot SL trailed to buy
price.
In case nifty falls below 4825, then go short with SL at
4844 for 1st tgt of 4808 (1st lot book here) & 4780 as
2nd tgt with 2nd lot SL revised to buy price.
Is this a workable strategy?
@ NEVER GIVE UP
One reason i guess is PE ratio way way down below 1
at end of day was 0.866
GM mynacji
4852 to 4836 is no trade zone
GM to all ,
Market trading well above DLema, does we go long as
" A faster retracement is also required or a close above LEmas."
@ NEVER GIVE UP,
As per EW, one more low is expected today.
However, if Nifty does not fall below 4805, then it could face resistances around either 4955-75 or 4990-5040 zone from where another round of supply is likely, supported by OI data.
Hence, suggested "Sell on rises" till settlement. Even if a critical bottom is made and a rise emerges, a corrective to that rise would terminate around settlement day. Long Positions created at higher levels is the deterrent to a sustained rise as well as technicals.
Dear Nilesh,
Very Good Morning..
tanks anmol sharma it may be but waiting for sir
reply.
@ Indus,
I believe the opening high is "iv"th wave of the fall from 4956 and the "v"th is on.
Aggressive SL would be 80% of the fall from "4868 to 4836" @ 4862.
If Nifty moves past 4862-68, its likely to move past 4920...++
thanks sir for making it easy.
Good Morning sir and warriors
@Ilango
Many thanks for your validation
Good Morning Master can copy to All
Lets start day with beautiful Bhajan by
Anandmurti Gurumaa
http://www.youtube.com/watch?v=IWLGSb7Eb64&feature=g-vrec
dear DR,sir,thanks for bhajan link..
kind regards
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industry waale bhi agaya blog mein
New Post Done.
Camarilla Intraday Follow Up:
Trade1 - 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.
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