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 ...
85 comments:
@DR ji
"Don't ever mess with the Bull" - I might lose my pants carrying "shorts" overnight.
http://www.youtube.com/watch?v=6Frxd96e5Dc
@Ilango - please delete if inappropriate...
How has the "Pre-Market View" helped you in making your "Trading plan" for both
"Intraday"
as well as
"Positional".
Excellent Guruji, Premarket weekly support really worked very well... Market Trend -> Technicals -> Followed the trades...
@ A J ,
Very appropriate.
:)
5680-21 Hr sma has turned up.
Now the tussle would be to protect 5680 and attempt to close above 5692 for the bulls.
haha AJ,,,,
Thanks Master,
It really had a whiff of +ity.
Regards
Yes parminder ji worked brilliantly...:-)
Respected Illango Sir,
I was short in 2 lot mnifty oct. In the morning I bought ilot nov mnifty at 5639. I shall reverse oct position at 5620 as per JNSAR. So effectively I am one lot short now instead of 2 lot.
Thanks Sir. Pre nifty views helped a lot.
Regards
Suraj
Sq. off my shorts at cost :-( . I will go short again if i find my level
Sq. off my shorts at cost :-( . I will go short again if i find my level
Dear Sir, Yesterday you posted regarding the falling wedge.. Has it come into play.
Regards
Siva
Resisted at JNSAR go short ?
Ilango sir
The pre market support levels and your caution reg OS levels at Day & presense of weekly EMA made me go long for intrday in the morning. But I booked out at DLEMA . But all levels including Hrly HEMAs / 34 HrEMA crossed effortlessly.. please guide us what would have alerted us for such big move? Thanks
One thing i did miss is break out on hrly channel
Also please clarify my doubt i asked in the morning about WEMA.. Whether WEMA matters only on a friday and whether Day Technicals can take Nifty below WEMA
CNX Midcap Index makes a leap by 1% at 7787.
@ Swami Shivkumaar,
It came into play just after 1.00PM when it broke out while keeping intact the Hour +ve divergences.
We, now, need to monitor the quality of this upmove and the closing for 2 days.
It could either be just a pause and start a sideways range of 5640 to 5750/75 or even 5800.
OR a reversal.
Lets get some more clues.
This price action changes to "Buy on dips" till 5660 is not broken(aggressively 5680 not broken).
@Ilango Sir, Your premarket views are always valuable in such kind of sideways movement. It benefits both the intraday and aggressive traders.I booked out of my shorts with a small loss and entered long with a strict stop loss as Nifty is trading above its 5Dema convincingly. Thanks a lot Sir.
@ Kranti ,
What you missed?
At OS zone, the presence of very good looking divergences and prices @ 20DMA.
Hour channel break out.
"Sanjay"s comments" about 5600PE adding 12 lakhs OI.
"Falling wedge break-out."
"Risk-reward" ratio keeping a small SL."
Fall consuming "less depth but more time".
WEma matters only on Friday and prices could dip below or even close below it in "intra week" and reverse either from THU or sometimes just on FRI.
@ @ Kranti ,,
Also continued FII's buying.
And Month/ week trend remaining "UP".
@Sujatha: This picture for you. https://fbcdn-sphotos-b-a.akamaihd.net/hphotos-ak-prn1/60151_500925909920239_285198267_n.jpg
Dear sir,
But the JNSAR favours short only, i follow JNSAR only
Tata Motors,Axis Bank, IDFC... supersonic...
Respected Ilango SIr,
Can I reverse @5612 or @5620 as per JNSAR now.
Regards
Suraj
Master,
As u told in premarket
"For intraday, strength would be only above "5662" at the opening session and later above the developing pivot."
Here developing Pivot may refer to Developing Day Pivot as at 12 noon Pivot becomw 5651 & market trading above 5651 comfortably after 1:00pm
Kiran
Tata Motors is under the effect of a nice positive divergence
good afternoon all
back from OT..wow bull's back...
Can anybody tell me when INFOSYS result tomorrow after closing or before opening? any idea about its guidance?
thanks.
tomorrow dev HA open is 5684...above it..zooommm
Long is advisable only if JNSAR triggers ?
do we have double bottom in nifty daily chart?
Dear Sir,
Thank u very much for the reply.Do u have any price point to confirm the same and what can be the possible target if it a falling wedge breakout.
Regards
Thank you Ilango sir
I missed the Break out on Hour channel / falling wedge break out after which the move was so fast..
I assumed ( without base ) the DLEMA will resist after a close below the same yesterday.. thats the reason i exited with plan to re enter..but the move was too fast..Also i need to be more patient having taken such a strong trade
Thanks for clarifying regarding WEMA.. Today is great learning day for me..
@Ilango Sir, the momentum with which the prices have reversed and are moving strongly validates your target of 5950 if Nifty manages to close above DHema today.
Following are the retracements for the recent rise from 5641 to 5715:
38.0%-5,687*
50.0%-5,678*
61.8%-5,669
Re-entry/ buy on dips should be in one of these.
Sujatha, hope your prayers been answered by NS.
Currently resisted at Hrly channel upper trendline @ 5716. It seems @EOD 5692 should be protected for bulls.
@master
technically what is infosys position master before result? i trade in nifty only but it can cause another whipsaw!!!
thanks a ton..
anmpatel ji
Infosys declares its result @ 9 AM IST.
@ Swami Shivkumaar,
"Falling wedge", whenever appears, is considered a bullish pattern.
The principle behind it is "selling happens at every rise but the prices don't fall as in an impulsive move" and this action gets contracted in a "narrowing channel" indicating the "weakening forces of bears".
Generally they retrace the entire fall.
However, I use them to identify the bottoming as well as a reversal.
@DZIRE
thanks.
jnsar abt to come into action?
OK. They retrace the entire fall. Thank you very much sir for your reply..
Regards
5DEMA has reversed in all probability
on Day TA , 5-10DEMAs are forming a FAST RISE set-up, this needs to be confirmed by Follow thru buying tomo ...
@Ilango Sir, INFY is showing Shooting Star Candle pattern on Hrly Chart.
@PS
can we take position considering tomorrow JNSAR hit long with SL of 5693?
thanks.
infy result leak hua hai kya??
infy-G scam
@anmpatel,
i think we shud wait.
even sir has not changed jnsar yet.
@PS
thanks. we should wait for next train. till no tickets!!only platform ticket!!
@ SANPOT ,
If Infy closes above 2530 today, it would suggest a ST reversal.
DR bhai,
lagta hein aapka chart kaam kar giya , bulls jaag gaye hein ;-)
High volume trade at 5730 NF
Thank You Sir.
Earlier high volume trade was at 5664 NF at 11.09AM
@ Ilango can you also please post the expected 9 RSI value at the end of the day (considering 3.00 pm close)
Dear Ilango Sir,
I've taken a JNSAR short trade.
But as market has given an upward bias should I reverse the JNSAR trade and go long at "retracement levels" mentioned by you? Or wait till JNSAR is hit again?
Kindly advise.
@ aarvee
What is stoploss for long?
3.00PM TT & Chart updated.
Master,
even from the last two hours open low is same
master changed the JNSAR to 5714....hit hit hit...
@ Stockathon,
The choice is yours.
Such choices should appeal to you at appropriate time.
Our aim is to objectively present the observations based on various studies.
"Marrying of studies to maximise returns" should always rest with the individual based on his expertise.
We have proved here time & again, individual studies too provide excellent returns.
How much you want to improve on one study depends also on "how much you could understand market's undercurrents".
JNSAR is not likely to hit today
CDg,
Rsi would be around 57
@ CDG,
Please do not add to my "already loaded work".
Use the JustNifty TA file.
Or let someone share this kind of work.
Dear Ilango Sir,
Thanks you so much for replying and giving more clarity to my thoughts.
I'm still in learning phase of TA and hence not yet attached to any specific system. Though I have a liking towards EMA Hi-Lo system.
Would try to improve on that and trade carefully. Thanks!
@PS
better to wait tom, right as after 3 pm no hitting of 5714. thanks you PS ji.
ns maintaining status quo wit IT index falling
BN rising
CDg,
Rsi would be around 57 at 3pm
STOCK4SURE
thanks for your views
entire day there had consistent high volume trades in BN.
hit!!!
Master,
I posted an observation mid noon on Robert Wyckoff pattern.This pattern was repeating in Indian indices quite often.
Link : https://picasaweb.google.com/104414710222738283116/Trading?authkey=Gv1sRgCPLqxKTclMW5nQE#5797951294371875906
Raghavendra
closing avg 5705.77 and vertically upward.....
Banknifty JNSAR hit long.......
even 5720hit
5707 now cl avg
@pammi
yep but we will unable to close abvoe DHEMA
5708.13 now
JNSAR hit in last 5 mins.....Amazing...
5707 avg is already above all majority EMA's
5-EMA, 7-EMA, 10-EMA, 13-EMA, 34-EMA.
Also above 21 Hr SMA, 34-Hr SMA.
Master,
Salute
Regards
@Hari_ Indian
in trade tiger 2.2.0 intraday history is of 5days only .confirm
Hmm...
Tried very much hard...But still the close is below developing JNSAR...So finger crossed...
Good covering even in 6000 call..(6 Lakhs)
@ Rajan Malhotra
Sir, after taking 5 day's intraday hourly chart, I click on 5d-60 minutes at bottom right and there I can plot up to 30 days.
Respected Sir
As per today's last updated JNSR at 5714 long trade has been taken. Please do advice whether after 3:00 pm as per the JNSAR long is advisable or should have waited till tomorrow. Also seeing the INFY's trend over and above 2530, as suggested by your good self for the ST reversal I have considered the long, though it wouldn't have affected my decision since JNSAR has been already hit.Its just an additional observation, to show the market's up trend. Also in last minute BNSAR has also been hit.And now at close the Nifty is at 5708.05. So please correct me and advice.
@Hari_Indian
Got it and thanks
"Falling wedge", whenever appears, is considered a bullish pattern.
The principle behind it is "selling happens at every rise but the prices don't fall as in an impulsive move" and this action gets contracted in a "narrowing channel" indicating the "weakening forces of bears".
Generally they retrace the entire fall.
However, I use them to identify the bottoming as well as a reversal.
Master tussi Great Ho ;)
Another lesson from you today.
Thanks and Regards Alway.!!!
@ Kumar sir @ DR sir
Holding shorts ???
;))
@ Rajan Malhotra
Sir, after taking 5 day's intraday hourly chart, I click on 5d-60 minutes at bottom right and there I can plot up to 30 days.
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