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 ... -
Will not be available to intra update . Suggest one of our readers to update on DHEma-HHEma-HCEma & HLEma for possible support points fo...
20 comments:
Just for information -
This month opening of NF/BNF/SBIN FUture all almost OPEN AND LOW are same and the sensex and NIFTY SPOT too and v protected the low nd the close of today is almost of the first day close of this month. (spot) let us see. and so as Nifty future too @ right level.
ashish - ofcourse when 6020 close below has made to be a bearish engulfing (may be) but excellently 35/47 protected @ EOD
PS : For aggressive traders it's an opportunity for risk-reward buy . but first time nifty future has given up it's 6K mark is the worry..who knows it may manage in the opening??
5920 SPOT is the last hope for small time bulls. will give up my bull view if close below 5920 @ EOD till the time it's both side trades and enjoy the ride.
Happy Week end to all.
Tks Chetas,
My expectation of a bounce has slightly diff reasons...
1. The Hi FreQ Osciallator has moved a lot on Hr TA, but has been unable to drag price
2. To be truly IMPULSIVE, would have decisively moved away from 5DLoEMA .. has not happened
3. Wk EMA has held, while WkHi is broken. Means
(i) Either Fall was shallow ; or
(ii) WkHiEMA -WkEMA gap was too large
Either case (i) or (ii) , it allows for bulls a breather for a bounce , if not an outright new Impulse
4. if counting move up from 5823 as a C.5 Impulse
0-2 line comes to 5940-50 which held, and pt 4 may form in this range. Anything below 5930 would be a peek -a -boo OUTSIDE the WAVE CHANNEL & put a Q mark on this count ??
Due to these reasons... i wud prefer to wait for brk of 5WkEMA to turn truly bearish
BN made Bearish reversal Today.
ilango / friends:
Infy future close yesterday 2330.
Infy future close today 2720.
390 pt up in a day.
Will it cool off in coming week? lets say retrace to 2600? how to trade it?
sujata sis: Ilango's JNSAR and BNSAR as well as DR's DRSAR for BN - all have triggered downward: doomsday for bulls:-)
Looks like more people here are holding longs?
Shriram,
Very well explained,
I also sense Bulls have one more chance,
TA wise, the put unwinding in 6K strike and NF closing below 5975 was very important weakness for me, also we have JNSAR trigger.
i had other reasons to be more cautious on long side. I am closely following S&P and trade in it, it seems today may turn out to be a major top with weekly RSi divergence , also fall till gapfill/ trend line support in S&P , almost 2% below current level,
lets see what happens , my sense is TCS will disappoint , especially after a huge rally today and may be on monday, which may act as catalyst for further fall
@rajaji
no way. i am sure majority of people following this blog must be short or have no positions.
Monday gap down expect minimum 200points nifty.
nifty bees/put combo
dear friends,
today at closing i bought 100 nifty bees @599 and to hedge bought a put of 6000 strike for feb series @102. do you approve of this strategy and think it will turn out to be a profitable one. experts also welcome to offer their views and comments.
Magna, what makes you give such huge gap downs, please give reason, do not make statement.
I put it in a little different way,
a) there was striking disparity between Nifty and Sensex. Nifty fell 17 points while Sensex shredded 24 points.
b) trend-line connecting 5650 to 6050 leaves a little room to finish topping up of 5th wave. bulls may have a limited and last chance for a long time to come.
c) it is also possible to have one/two days of sideways move before making a high to end 5th wave.
Janak - yes..knows JNSAR is short..still not a "disciplined player" :( but someway disciplined now "dealing only with SBIN/NIFTY" FUTURE.
My NIFTY future level already mentioned to Nilesh ji - (for this month) abv 6066 on EOD basis only +ve or else i will short @ high and doing the same. this is the first time buy becoz future has done exactly. my take for coming week is
retracement level upside - 6003/14/24/32/67
downside break means - 5921/5887. with pre plan only "i am a little bull" if i got hurt??:P i hv 2 run for covering my loss with intra. expecting a bounce..if not resisted @ 32 will short again.
thanks for your reply.
http://content.icicidirect.com/mailimages/ICICIdirect_TechnicalOutlook_2013Product.pdf
Arshiya International: One of Kotak’s top 5 picks for 2013, down 50% in 3 days
http://www.moneylife.in/article/arshiya-international-one-of-kotaks-top-5-picks-for-2013-down-50-in-3-days/30706.html#.UPAAZ0dUWFU.twitter
:-)
yes chetas, we r v close to the Top is the mutual feeling... but one final hurrah may just be round the corner if 5930 holds & then may be Bye Bye Bulls for a v long time!
Gartley top on monthly charts for Nifty completed with 80% retracement for the whole fall from 6388 to 4533. Target at least 5558, stop loss 6050 cash.
Gartley top for HangSeng also completed.
Namaste Ilango Sir & Blogmates,
Bearish to Neutral: Bears are back in business, with huge selling seen at higher levels, now Bulls need to hold fort or else Bears will start dominating the OI Table...: Option Analysis for 11-01-2013
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Thanks & Regards,
Sanjay Kr Jaiswal
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