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 ...
89 comments:
@ Amol Sharma,
Today's gap up does not qualify for "Gaps" as yesterday's high was 4899 and Nifty opened at 4886.
Importance of 34 Hr Sma:
Nifty opened exactly above 34 sma @ 4886 (at 3.30PM-05.06.12)
Good Morning ILango Sir & everyone!
Dear Shriram Jai Shri ram!
Bulls gave big blow in morning itself. They completed 50% job by closing above 4925 on hourly. Now intraday 4957 crossing or EOD 4925 closing only needed to go 5050-5100:)
Dear Prashant Bhaiya!
Hawala kata aur aapke darshan ho gaye, kaise ho bhai ji?
Dear Mynac!
BADA HUA TO KYA HUA JAISE PED KHAZOOR, PANTHI KO CHAYA NAHI....FAL LAAGE ATI DOOR:)
Aajkal aap HINDI ko bahut badaawa de rahe ho so mai bhi hindi me hi likh raha hoon. Aap bade ped nahi ho, aap Vishal ped ho jiski pahchan yahi hoti hai ki wo jhuka hua hota hai. Aapke neeche hum JN walo ko chaya (OI ANALYSIS) bhi mil rahi hai aur fal (PROFIT) bhi aur fir bhi credit aap doosro ko de rahe ho:)
i guess today it may be day of higher highs and nifty may close near days high of 4955
buy on dips and booking small profits can be ideal strategy
what s seniors advice??
@Ilango
Reading your premarket comments carefully, the
message is clear that we are in a downtrend with
short term reversals. Could we then use the area
of 4950-4970 to create positional longs, with a
stop loss of 5050 on a closing basis?
@Ilango
Sorry...read as postional shorts
4951, 4990 ns gap to be filled, kya 4990 ayega. 5195-5200 possibility is also there.
@Master,
Is there any possibility that 5th wave could be in ending diagonal?
MASTER PLEASE GUIDE......HOW TO WATCH 34 HR SMA OR EMA AS GOOGLE HAS INTERVAL OF 2MIN,5MIN,30MIN & DAILY........PLZ HELP
@Mynac: Are shorts being created into the system or is it short covering which is lifting mkts up? Looking at the FII figure, they have been daily sellers.
Wondering if bulls are trapping bears or its the other way around.
bulls plz dont break 5020 i request
Pranaam kumar sir,
Mumbai ke bhaai log c=a zone 4970-4977 , pe latkele hein...
udhar thoda bear nukkad ke khopche mein raada kar sakta hein.Jyada mach mach hua to dip, bole to reversal.
Bulls agar RED BULL piyele honge to 4970 ki vatt nahi chalegee, "supply zone cha baila cha gho" kar denge ;-)
aur Bears ko Alibaug se ayela -gayela ;-)
GM Everybody,
Almost 5 Lac writing evidence @ 4900 PE when Nifty is trading above JNSAR....
Dear PT,
Old Hindi film's famous dialogue:
"ye dhanda hi khuch aisa hai sab...kabhi bazi pulis ke hatho me hoti hai to kabhi hamare hathome..:)
Good Morning Master and copy to All
हुन मोज्ज़ा ही मोज्ज़ा
@ Prince ,
In the google chart 30 min T/F, add 68 period sma in "Add Technicals" set up.(68 for twice in Half hour Time frame)
@Mynac
:) Sach hai ek dum ... :)
@ Nilesh Patil,
The chart reflects the same.
THANKS MASTER ..............
@ Indus,
4976-5039 zone is a major supply zone(Resistance).
We'll see the patterns/ EW & TA position to take a view.
As long as Nifty trades above 4885-4910 support(earlier resistances), upmove continues.
Sir,
50HSMA @ 4912 and 200HSMA @4985 .
Staying above 50HSMA should give 40-50-60points , I think ,if it sustains the trendline would get resisted at 200HSMA.
Dear Kumar,
It's not like that it's true confession..
Dear Prabhat,
The way Bulls are taking Nifty away from JNSAR,indicates their intention,supremacy and momentum.. but it was not too unexpected,even Dear Sujatha was expecting this bullet train since yesterday,but as she used to travel by plane only she forgot to read the time table's disclaimer "departure shall be as usual on IST only)so we confused..
ILANGO SIR
BOUGHT SBI YESTERDAY IS THERE MORE UPSIDE POSSIBLE.
REGARD
:-)
Master,
As u say BN is leading indicater but today from Low of 9580 to 9643 (+58) but nifty rise from 4909 to 4943(+34) is more. So does it indicating if fall came it will be more in BN
VIJAY KUMAR
Plz dont type in capitals
typing in capitals is like shouting
sorry, ok actually my login id and password expire in 3 minute and all r in capital letter so caps is always lock on. but i will take care of it. again sorry.
4946 is 21ema...may give some intraday res to upmove
I bought mininifty for the first time today @4900 so should i place stop loss limit or stop loss market order ..........and which SL order should i always place in future.
pahle dil ki sunno, fir dimaag se kam lo,fir majboor hoge wahi karo jo nifty chachati hai.
this is stock market!
as JNSAR triggered. but bought late at 4913 nifty futures. lets hope for best.
DR bhai.. Special for u ;-)
The Pessimist sees the glass as half empty.
The Optimist sees the glass half full.
The Trader just adds WHISHKY & drinks... ;-))
@ prakashbkc,
BN's lack of upward momentum can not be construed as weakness.
As of yesterday, it had closed below all close emas and High emas but above all Low emas - indicating "trading time" between HEma & LEma.
Once closes above HEma, the upward momentum comes in that T/F.
Dear Prabhat,
Following is my common sensible simple understanding for this up-move.."
The players who are responsible for this move must be aware,and keeping eye on Hrly.daily,weekly over bought-oversold condition,like us.
So,now when they are in winning position,with the help of current momentum,they would try to take Nifty further away from JNSAR,because in-case when market shall look slightly overbought then the correction shall be there but at that time if Nifty shall be away from JNSAR,then it shall result in just running correction.And no serious damage or harm for up-move...thereafter.
Big buyers or sellers used to keep this type of cushioning for emergency..is my understanding...Means in the mean time long-short positions are regular part and parcel of the game...
sir..... i trade in stock basicaly.... in which value i used to SAR level... plss reply...& if i trade mcx can i watch same 15 min orb or others...30 min or 45 min..plss clarify
CAMARILLA FOLLOWUP:
Scenario 4
No Trades till Now - SOH(Sit on Hand)!
In such Gap days I wish to share
Opening Range Levels for research/trade.
shriram
:D
if ns closes abv 4946 5 and 13 ema may change the direction of slope from down to up
real rally will start when 34ema changes its direction and that may happen if ns sustain abv 5003
for me i feel range has shifted to 4910-5010 now for next 2-3 days
sir jansar stop loss 4902 or 4914-20+4894????
@kerala nifty
4894
@master
11am update please. thanks.
Master,
BN trading >DHEMA but below WHEMA
MASTER JI
have sbi will it go 2200 today. still not crossing resistance 2133. please explain
regard
Master,
Can we believe that a Big "C' scenario is temporary out (as a monthly trend is down) and think to sell on rise for big gain???
vijay kumar
sir doesnt usually track individual stocks
@ rajesh stock ,
For stocks "SAR", take the 5 day sma or 5 day ema.
It's simple & quite effective.
For ORB trading being applied to different markets, it should be observed and concluded for "efficiency".
For Nifty, it works quite well during trending time/ reversal time but not good during "range bound days".
@ kerala nifty,
JNSAR Stop & reverse for the day is @ 4914-20=4914.
ILLANGO SIR
CAN I BOOK PROFIT AT 4955 OR CREATE NEW SHORT AT 4955
nifty is nearly hitting top range of yahoo charts at 4950 since last 25min but range is not getting expended yet
koi jhol to nahi hai???
prakashbkc
long kya?
Sir ILANGO JI kindly update me your pre market strategy
thanx in advance
Master, fluorescent green colour in your comments is too bright to read.
GM sir and all :)
Prabhat - opening itself my SL hit :P bit busy going out. keep up only will come 2 noon session
Mynac - GM :) bullet train dishyummmm ..
STOCK4SURE
yahoo chart not providing space to move up
Lolzzzzzzzzzzzzzzzz
BN
bhi sharma kar waps aa rahi hai
no space in chart :D
http://bankniftytradingchart.blogspot.in/
pyramid said...
Master, fluorescent green colour in your comments is too bright to read.
Yes Master a light shade of green will be better
Sir,
4914-20 = 4894
@ murli,
I have stated my observations very clearly.
Use them only if it is harmonious with your observations.
Taking a trade/ exiting a trade, etc., should be your choice.
Excercise it however nervous you may feel. That is the only way to learn "hands on".
dollar trying to move up
GM DR sir,
No sir, short nifty at 4947NS in fut 4932NF
Mater's posting @ 11:24am seems OK for the eyes. Thx Master
sir 4914-20+4894 sir ur stop jansar developed? 4902?????
DR sir,
Going against JNSAR & coming with EW with SL of 4976
keep it simple kerala nifty
Its its always 20 points from jnsar unless it calls for. So its 4914-20 =4894
ILANGO SIR
i quit sbifut at 2125.
now enough for today as u say
Get Rich Slowly and Quietly.
i very very like this line and words. or vese bi nifty keha jane wala he kal bi yehi hoga.
knocking barrier of 4950 again
4950 Done...
Now... Shall Bulls take a rest for some time ?
Let us see...
@ amber,
Pre-Market Strategy:
Three trade tables are shown.
1. Conservative trade: Based on EW/TA with direct suggestions. Use them only if you are convinced. It is my view and it is subjective. Use your discretion.
2. Aggressive trade: It is for "Intraday trading only". It requires "additional inputs" from "Google intraday chart"(Link under "Live market to watch") as well as "Hour TA" as per TT/ Chart/ "Just Nifty TA" file(Downloadable from the links at top right corner of the blog)
Do this only when you are experienced to understand market dynamics, world cues, etc.
3. JNSAR method: Extensive write up is available under "JNSAR" in labels section. It is the "easiest" but requires "patience & discipline" but works well in a trending market. In a range bound market(Know it from the TT whenever Nifty closes between HEma & LEma), trade using TT.
DR sir,
no words, I think u quite angry with me going against JNSAR. Sorry
better now, thank u master
@ VIJAY KUMAR ,
Very wise decision.
"Catch the Jack rabbit" before it runs away.
Keep filling your kitty.
Never look back.
yahoo surrendering to nifty
givimg way to queen for marching ahead
now before falling towards 4800 mkt should fill 4991 gap??? gap 4951 done.
prakashbkc
Rule says
"IF not long do not short"
master
i m very happy sir u praise my decision.
thank you very much
Dr Sir,
Copper Long ???
sir some important data is to come today in europe.there may be a big fall or jump.
Dear Mynac!
We all are big fan of yours bcoz your analysis is always unbiased.
Dear D R Ji!
Pranam sweekar kare:)
Ok sir, but Europe fut also coming down from their highs making like dax at6023 from high of 6064
CAC at 2993 from high of3017
UK at 5293 from high of 5307
Dinesh ji ,
Good afternoon and SSA
http://www.tradingeconomics.com/calendar-list-by-country
list of data which will come today in europe
Dr Kumar,
hamara bhi charan sparsh sweekar karein
Regards
☺
trend turning into trading
@Ilango
If I take the 61.8% fibo retrace from 5630 to 4531 at 4951 and short with a stop loss at 4970 (80% fibo retrace of 5020 to 4770), would it be a feasible plan, or is mixing two fibo retrace levels and inaccurate observation??
#/Just for Observation/Paper Trade/#
My Approach of Gann support as per Intraday Data
*/Nifty Futures Paper Trade/*
SELL may start Below 4918.92
for the targets of 4898.49, 4878.10, 4857.75
with stop above day high.
today ns has not breached below 13ema in 5 min charts
Master
The wave seems to decided to retrace 100%
New Post Done.
JR ITS NIFTY FUTRE RATE SAME THINK IM GET IT ? IM PLS SEELING ORDER BELOW 4920 LOL
for intraday trades i suggest using the setups described here. I have been trading with this sort of setups for quite long time and it will give u a bias for the day, at least for the first few hours. these are sort of open breakout above yesterday high/low and breakout failure
http://indiastockspotter.com/Blog/TradingSystemStrategy/tabid/157/Default.aspx
SIR ILANGO JI THANX VERY MUCH
THANX
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