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 ...
72 comments:
@Mr.Prakash-Pol & Mr.Sandeep,
Good Morning - Have a Prosperous Day.
@Mr.Prakash-Pol,
CAMARILLA levels used in global markets
mostly they dont have much Gaps like
our markets.
http://www.google.com/finance/historical?q=INDEXDJX:.DJI
The concept of camarilla is using previous
volatility(range) with some fixed fractions
from mid point as previous day close.
To resolve this GAP issue:
We can use OPEN of today in cam calculator
instead of previous day close. Also if much
confusion like today open 5100 in NF 5221.25 in
Mini we can take ATP of first 15 mins 5212.
However one should backtest their own approaches.
Dear master and all JN friends
JNSAR is now 5175 as per master.
Wish you a Great Learning and Earning Day.
Good Luck !!!
Oh! My msg vanished! SPAMBABA?
Dear Manish,
5175 is JNSAR for tomorrow or should we take it as for today too...Sir please clarify
Puravi
Individual discretion. Why cry for 15 points when we make much much more?
Stand corrected Puravi.
@Puravi,
Take note of DLEMA @ 5172.. and Sir's Premarket View.
Gann Sq9 - Support/Resistance - Nifty Spot
Support - 5184, 5166, 5148 Deep Sup - 5130, 5112
Resistance - 5202, 5238, 5256 Deep Res - 5274, 5293
As commented yday..........5180 arrives...Market in balance...5176---5156 NF major support....Don't be surprised if we have a 100 point rally from here.....Ehlers was correct..Market is like a whiff of smoke :)
Thank youManish & Prabakar ji,
5172 is 80% of the rise from 5154 too...
Hence the query 5172 holds the key as pre-market, just wanted to know if Sir is changing it to 5175
so nifty correcting rise from 5033
As per ATR formula
Buy Zone 5195.75 to 5179.75
Breakdown Below 5176.55 broken now
Breakdown Target 5108.35
developing weekly candle ?
@Master,
As per premarket Bought @5175 future 5185. with sl of 5160 spot. Am i correct master?
nifty is down nearly 50 points but India VIX is nearly flat just up 0.02 pts
Reposting,
Namaste Ilango sir and all,
Nifty DAY CHART:
Click Here
NIFTY WEEK CHART:
Click Here
Sir,
Relinfra is near ur JNSAR 496....
whats ur view on that ???
julius ji,
how do u interpretate GS9
@ Nileshji,
The ATR target coincides with the 61.8% retr for the rise from 5032 - 5246
May God increase Your Happiness Daily
Like the Price of Petrol....
'n Decrease Your Sorrows Like Your Mobile Balance!! :-)
Goodmorning sir and all :)
Nifty Simba your quote - "Don't be surprised if we have a 100 point rally from here.."
My quote - Don't be surprised if we have a 100 point DOWN from here. hehe that's market boss:D
Grinder switched on. Who ? / ?
@Sanjay Jaiswal Sir,
Ranbaxy rockinggg
@ Chetas,
Probably a Grave Stone DOJI!!
@ Nilesh Patil,
It is as per the aggressive trade table. It is the right one.
Also one would have shorted at the open when it was available @ 5204-5DEma.
Gravestone Doji:
http://thepatternsite.com/Gravestone.html
@ dare,
If it holds 492 or the current low, it could reverse. Below 492, it is bearish.
Good Morning Sujatha..
What a quote!!!
thanks sir.......
Thanks Master.
Grave Stone DOJI is "irrelevant" in the "middlepath".
Its relevance is pronounced when it happens at the "Top".
weekly trend was trying to down ,, as daily & hrly was in overbought ,
Now Hrly come down from overbought
now if weekly come done to get oversold , we could get good rally
lets c news was ( either discounted too into price)are still there but we must stick to price
becase news gets discounted before we know ,
MASTER has good hands on it :)
Sir
Can we take it as JNsar trigger @5170
Regards
thanks Satheesh,
lets do a
http://www.google.co.in/imgres?start=23&num=10&hl=en&biw=1366&bih=643&tbm=isch&tbnid=0Y7d-BBM427-VM:&imgrefurl=http://flickrhivemind.net/User/Sleeper%2520Cell/Interesting&docid=BeJfrOfMa1TX1M&imgurl=http://farm3.static.flickr.com/2239/2229264342_599baa218b.jpg&w=500&h=500&ei=r18bUOeBCoHNrQfa6oH4Dg&zoom=1&iact=hc&vpx=491&vpy=289&dur=2570&hovh=225&hovw=225&tx=155&ty=144&sig=110924836461344097057&page=2&tbnh=148&tbnw=148&ndsp=27&ved=1t:429,r:9,s:23,i:34
@master
please send me your any photo(full, potrate) on my mail. thanks.
@Sujatha..........at least we agree on 100 points...that's a relief....:)
For candlestick patterns,few thing are quite important...
Prior trend & Position where it occuring
in candlestick patterns,
colour,size and location are very important
Reliance infra
Open High Low
Aug 1, 2012
494.95 512.80 491.50
Jul 31, 2012
502.00 503.50 483.20
Prabakar - :) Shri -ji still @ US will move to "Non fam Pay roll announcer's tongue" today??
nd today's closing is decesive for whether 5350 first or XXXX first? when everything looking bullish that time ஆப்பு வைப்பாà®™்க :)
Dear Ilango Sir & Blogmates,
OI Table Update at 11:00 AM, VAL : 5231, WVAH : 5166, Pivot : 5241, S3 : 5197, and VWAP : 5196
Thanks & Regards
5142
Namaste Ilango Sir and fellow bloggers
LV
Sir,
My opinion is though it is in the middlepath - it is happening at a resistance area of Contracting Triangle. So i thought it might be relevant for futher downsides.
Is my perception right sir?
NIFTY WEEK CHART:
Click Here
last hour was doji...
The week closing value shown in chart is 5227 - yesterday's close - hence long green candle
@ Nilesh,
The ATR targets also matches with Gap fill level at 5100 and Wlema
As of yesterday, the volume profile vales of NS , the POC at timeframes 1day-10 day all coincides at 5225-5230 range. If we get NS there again would be a good level to reshort, for sujatha XXXX trgt :)
@ satheesh,
Firstly, the EOD alone would decide the type of candle for the week.
Next, the contracting triangle resistance would be around 5300.
It is true, there is a weakness....displayed by rising wedge, tradeable at its breakdown or at its exhaustion point.
It is true Day/ Hour displayed Overbought and hour with additional -ve div(minor).
That has taken the prices to WEma.
Below 5154, last pivotal low & 5160-10dma & JNSAR, more weakness likely.
Bulls live on the upperside of 50sma---@ 5140.(that is a 20 point filter to JNSAR)
It depends on what you choose to make your trade plan....aggressive or conservative or ultra conservative.
dollar correcting from highs
now nifty may move up from near lows
In the name of Ehler............ 5240 has to come to achieve equilibrium.....lets watch...
Good Morning ILango Sir & everyone!
Dear D R ji, Aapki liye peshe khidmat hai....
http://www.youtube.com/watch?v=ebi-u8cXmtA
Nilesh what is the SL for ATR trade
DR Sir,
Aapka blog updated nahi hain (bankniftytrading)?
Kumar Sir Pranaam
Thanks a lot for the detailed explanation sir.
As per my Aggresive trade I have Shorted yesterday at 5225NS with SL of 5250NS - based on Harmonic pattern. Today the trailed SL is 5220 - based on 20 DMA and Day HEMA. I would partbook near 100 DMA levels 5151 and trail the SL as per todays Day HEMA.
Closed Positional Longs today Morning at 5214NF and added more shorts.
Chetas - gap fill 5100??? any other "number hole" gap etc., etc., below that??? for my eyes something is visible :P :( hope i hv to go to eye doctor???!!
Kiran
if not updated any time previous levels stands good
tired and lazy tody
Sister
1.618 times retrace of 5154-5246.6 = WE GET 5098,
also NF false low 5100, hinting something :)
D R Sir Pranaam!
Sookha par raha hai desh me, kahan le jaoge sir Bank Nifty ko:)
Kumar Sir
Master Said
"Bulls live on the upperside of 50sma"
A good thing today for me is that grinder started before hitting JNSAR. Once in a position the grinder can be killing. Many times I run out of patience and make a mistake only to see that markets reward such
trades handsomely.
Dear D R Sir!
Thank you so much, so then should i wait for shorting till 10150 EOD?
Bank NIfty 61.8% retr for the rise from 10056 - 10458 achieved at 10213
Seems NS has taken support at 50/200 EMA, both at 5163.5
@satheesh
i thing bullish gartley forming in hourly bank nifty...plz see it..
http://yfrog.com/5fbankniftyhourlybullishgp
5163 is 38% retracement of 5246 to 5033 and also month JNSAR. So a long trade with a small SL here makes sense, I believe.
DID NS close above JNSAR 12
@ Cool dent sir
Shall I get ready for Stochastic cross over in 60 mnts. ?
New Post Done.
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