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....
-
5010-5039 supply zone proved a ST resistance. 5002 proved a break down point. 4945 to 4982 proved a corrective rise, monitored with an ...
51 comments:
Hi Ilango sir - Good Morning
Can you please explain the importance of open interest
in F/O Trading and Please the very Important
tell me how to read the open interest in the live market
and What conclusion can be made
if we see an abnormal increase or decrease
in open interest of a particular Stock or index - please explain me with an example
i will be very great full to u sir thanks - Girish girish.s.powar@gmail.com
Good morning sir..
In the EW labels, the second (4) is closing above (1/a).
Isnt it breaking the rule?
Would like to hear about any change required.
Thank you
Good Morning Master & Friends
Good Morning Sir & Blog mates,
After becoming a silent reader of this blog since last 2 years now just thought to participate & share my little knowledge here. Hope it will help someone. Any suggestions are always welcome.
Overall View for today:-
4931 - Major support for nifty. (First Sign of Weakness if broken this)
4971 - Support area (Re-buy Opportunity)
4995-5025 - First resistances to continue up move.
Targets after clearing resistances: - 5055-5126
Current Trend - UP.
Weakness only below 4931-4900.
4860- Trend will reverse below this.
Possible Movements:-
1. 49955025(4971 or 4995)5055[5126]
2. 49954971<4950>49955055.
3. 49954971493149504900.
4. 49954971493149004880[4860].
Two best rules for successful trading:-
1. Initiate position in the direction of trend near support & resistances.
2. Max stop loss - 30 points.
Happy disciplined trading to all.
Have a nice day!
@ GP,
Reading OI during market has its own drawbacks due to changes made at EOD and could be misleading.
However, if the changes in OI supports a technical study or any other study, it adds strength to the conclusions.
OI changes with volume changes would be more credible.
I consider:
Rise in OI with rise in prices - Bullish
Fall in OI with rise in prices - Bullish
Fall in OI with fall in prices - Bearish
Rise in OI with fall in prices - Bearish
Most of market's price action is highly speculative in nature and "bulk of this speculation" happens in futures market. OI changes depicts a fair picture of strength and weaknesses of bulls and bears. A thorough knowledge of this helps you take a "Positional trades" which would bring in riches with lesser risk.
OI study along with Technical view or our Tech.Table or anyother study which has been followed by you will bring more conviction to take a trade.
@ Rocks,
The second (4) is to be relabelled as 4 or 4.a till 5161 is breached.
Camarilla Key Levels
H4 5021[BUY]
H3 5003[SELL]
L3 4968[BUY]
L4 4951[SELL]
Good morning Ilango sir & all blogmates
Rgds
Saravanan
Good Morning Sir and all blog-mates.
Good Morning Ilango Sir and Friends
Nifty Resistance levels : CLICK HERE
Namaste beloved Master and all friends
May the Lord bless us!
Have a nice trading day
GM master & all friends
Gm ilango sir and friends.
Master as we have already part booked one lot yesterday what
will be next level to create long.
@ Rohit,
Preferably closer to 4945 or 4970 for today.
Goodmorning master and all JN friends
Wishing you a Happy Learning and Earning session.
Good Luck !!!
Good Morning Ilango Sir and all.
Namaste Ilango Sir an fellow bloggers
LV
Pranams Gurudev.
good morning sir and all friends.
Good Morning Gurudev Ilango and friends
good morning sir ,and all the gems of JN
Good Morning Master and copy to All
Good morning ☺ Ilango Sir and all blog mates
4989 < ORB > 5010 (NS)
4977 < ORB > 5011 (NF)
Good Morning.....................
since hour JNSAR is increasing a linear way
and also hour J10 SAR is above the it. so hour J10 sar
is the best point for the re entry.
good Morning Sir and warriors . .Kumar Sir ..solid one yesterday mere paas raaj maa hai ha ha ha .. DR sir ... Dekho gap up hogaya ... :)
open and high same of nifty futures ?? (at 5011.30)
@Dinesh Rishi: Very good morning Sir...
how does BN welcome DR?
Like this:
http://www.youtube.com/watch?v=c06R1KKl82A
:-)
GM sir and friends :)
PT - got BN early clue for this month.. as it "lead" the fall and "buy" this is time i will try to be quite and earn (like DR-ji) hehe :D :D
Shriram - Pizza enough yaar...had "dosa" today as i don't like pizza
it is good that Indian Govt. is mulling over reducing
dependency on FIIs and doing some planning accordingly.
it is ridiculous to look at FIIs face every evening
hour J10 SAR is above Hour JNSAR upper channel
so hour closing ia important, not closing above todays
high then will be considered as a sneaking weakness
in hour trend.
@sujatha
Deep cut :D lolzzz
Master,
You mentioned nifty comes 4776-4664 in chart,
So is it comes? it make me fear in long trade.
Today you said part book at 5070.
So wt can i do??
Please suggest me
GM Everybody..
Dear PT,
From just trading point of view,keep watch on Hrly.
Tech.Table today...It may give you relief for the day..
bear camp pls approach NIRMAL BABA and ask ye kripa kyon ruki hui hai
PT - BN should cut "600" the game then only starts
5 Figure not far
BNF resisting 50 SMA
@Mynac
thanks a lot ..
@Sujatha
Today i am scalping large qty and small band
Trade management karna padega to recoup the
loss :)
@ Prithvi,
In the chart we have marked the resistances @ 5010-39 which is the next supply zone. Profits are being booked.
I look for retracements for 4890 to 5010:
38.0% @ 4964
50.0% @ 4950
61.8% @ 4936.
PT - the same - done one round upto 20 sma level :) closed now waiting for it's behaviour
taking support
DR-ji - I am very sorry to go against "BN master" - my view is BN may weak below 9600 :) :) am watching this area below 550 much weakness and above 756 only the "open gate"
ab chahe sar futte ya matha maine toh short kar di
Why I told you because though the current momentum is up & strong,
considering 5005 as weekly resistance,which is my understanding,
There is good intra addition in 49 & 5000 PE and in just
first trading Hr.today,the rise from the day low is 50%
there in both scrips.
New Post Done.
Sujatha
4918 kya ja :D wishful thinking :)
HI
Thanks For replying my querry sir - Girish have a great
day ahead
Thanks For replying my querry sir - Girish have a great
day ahead
Post a Comment