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...
38 comments:
Dear Ilango Sir can you suggest any strategy for Infosys as the results are coming tomorrow..?
Good Afternoon Ilango Sir and Blogmates.
LIC ups Infosys stake by over 2 per cent ,
Infosys Q3 PAT seen down 6.4% at Rs 2216.9cr: P Lilladher,
JPMorgan maintain neutral rating on Infosys, see muted Q3.
it is a falling wedge pattern in Infy hrly chart.
some experts opine that Infy may give surprise.
Conservative Trade update:
BUY Only above 5995 or 6005 with SL.
@ vignesh,
Tech.Table of Infosys has been down.
Below 2380, deeper falls scenario continues.
This month, it made a high of 2380 and falling.(Refer Infy Tech file from JN Group)
@parmalji,
Infy is forming abcde cottective patten on weekly. Last leg "e" may tgt 2000 in short term sl is 2390
I think nifty would comes near 21dema 5929
last leg of correction ended as diagonal
a 6020 - 5988
b 5988 - 6005
c 6005 - 5958
x 5958 - 6005
a 6005 - 5969
b 5969 - 5984
c 5954 - 5965
Dear Nilesh Patil
if Infy comes down to 2000, then Nifty will be dragged down. that may be the reason, today market is listless.
sorry typo error
c 5984 - 5965
Parimalji,
There are other stocks too. to hold the nifty. :P
Thank you very much Ilango sir for your reply
@ dear llango sir,
Sir, today as per pre market view for conservative trade buy at 5936-5954 ns or above @6010.
Now after updated trade for conservative.
We should buy above 5995 or 6005.
Sir my doubt is That now we keep our short position open with sl of 5995-6005 and need not to close at 5936-5954 levels as per pre market view.
Kindly help me to out me from this silly doubt.
Thanku sir.
Dear Nilesh Patil
right, that is what i read in the chart. if correction (2) is being done, then we may expect (3) to commence.
GA master,
Why change in consevative trade .Is it due weakening hourly momentum & also Day lead indicator reaching to oversold condition?
@ prakashbkc,
It depends on EOD prices. Besides certain technical readings are reversing from "overbought" zone.(Needs more confirmation @ EOD).
As per aggressive trade levels, another sell on rises at open and Nifty is closer to "profit booking support zone".
As long as Nifty holds above "5931"(i st wave top), "iv"th completion & a "v"th reversal is likely. 20 dsma too is placed around this level.
"5977" WHEma is to be watched for bullish confirmations tomorrow.
5 day charts showing nifty trading in down sloping channel and a bullish WW developing within that channel
ns may dip near 5950 which is channel supp and also may form pt5 of +WW pattern
trgts abv 6030 till tomm
Sir where i can get relinfra tech file ?
ns 5956
risky longs can be accumulated here with small sl
Parimal,
Infosys on weekly time frame too is in a falling wedge.
Raghavendra
Nilesh ji - NF downside pending 5958/42/35 pending for me (if 5980 taken out) may be will drag and come slowly??
January 9, 2013 3:24 PM - wait please let me try to book onceagain
Sir - what are the levels for conservative SHORT trade?
Can we short as per JNSAR???
Raghavendra
hrly, daily and also weekly of Infy is showing falling wedge.
@ MANOJ LAMORIA,
I'll upload "Rel Infra" this evening at JN Group. It will not have hour TA.
dear Ilango sir,
Could this pattern appearing in nifty be treated as leading diagonal????
@ Sujatha Sis,
Be ready for upmove.
ns may probably once dip below 5950ns to test down sloping channel T/L (or create a false breakdown)and will also form pt 5 of a bullish WW pattern
expecting ns to retrace towards 5990 be4 eod today
dear Ilango sir,
Could this pattern appearing in nifty be treated as leading diagonal????
Keeping some stupid score today - since morning BN futures went below '12800' 12 times and went up above again as many times - God knows whats going on when Nifty isnt whipsawing so much...
Nifty approaching ATR Buy zone now.
master Tata steel below 21days ma .. any suggestion
Nilesh ji - 5960 future pls atleast
Sis,
:)
A perfect ND's ATR day.
New Post Done.
@SAM Tisco has support at 415(200 Dsma), below which it is bearish.
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