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....
-
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...
35 comments:
Ilango ji,
5waves A done here sir ?
@ MASTER
This down move look like impulse ( sorry choti muhh baddi baat for EW ) only reason is there is Negative divergence in Hrly & daily yesturday ,, also in weekly -ve divergence is there but for week price & TA are in Overbought ,so as market setup are we still in correction or Reversal?,, I asked because after consolidate Dec month looking for rally
Hi
First gap filled. Lets see if it finds support otherwise it goes to to next one.
Thanks
Shriram ji -wait... NF pending 86/80 let me close once
Shriram ji, it seems so, but the form is not very clear atleast to me...so fingers crossed await Sir's confirmation
@ shriram,
As said earlier, the sub-dividing waves suggest of more lows.
Nifty is quite close to day's support zone.
Identifying "exhaustion" was fairly easy. Deciphering corrective sub-wave is always is challenging.
@Suajatha sis,
Kindly Book your shorts. Now i m long. pls.
Hi
Looking for a monthly pivot touch. The move will happen fast. I believe this is wave 3 personality
Thanks
Shri ji , I felt 5 was over at 5968 around 10:30 this morning , and also there was +ve divergence in 5 min charts , Looking at the two together went long , out with a small loss ...Should have scratched the trade when it resisted at 61.8% of last fall from 6016NF - 5095 NF
Sir - BN below the channel mentioned in stockwealth. Can we go short here?
Parimalji,
late to thanks.
What will be entry point for Wipro/TCS?
Thanks.
@ ilango ji: tks master :-)
Hi Suja: Hru ? long time . This yr , my resolution is to eat ur dosa /Idli tgts, so now we shud see 73-80-97 if lucky :-)
@ Puravi /Smita: yup, @least from a -ww view, tgt is done.. if correct, 5960 shud hold & a B wave has commenced up retracing the fall
an expanding triangle forming in ns 5 day charts
today supp near 5950-55 range
if didnt break below 5950 then may trgt 6060-70 range this week
@ S4S,
Now am able to see a +ww on 5mins , 1-4 line shows tgts in range 5985-5995
can u pls confirm ?
Hitendra
TCS is a safe bet. yet i suggest a wait and watch till Infy result on 11th shakes the market.
on expected line, Wipro has corrected or correcting in probable fourth wave. strong support is existing that of 200DMA which is far below.
Parimalji,
Thanks.
So same for Wipro till 11th.
Am I correct?
Hitendra
NS 5950 is a significant number, my eyes are glued to this no.
@ Master and Seniors request for TATAMOTORS views
Nifty near Day.JNSar to trigger shorts and 9hr-RSI at 14.49............caution ahead.
Dear Ilango Sir & Blogmates,
OI Table Update at 1:00PM, VAH:6054, POC-6040, VAL-6026, WVAL-6008, Pivot-6032, VWAP-6004
Still OI Table not very weak, but higher levels are getting capped, with 6200CE OI now above 85 lacs and 6100CE also adding fast…
Thanks & Regards
Hi
US futures gapping down. Lets see if they hold it before the open.
The market made a big mistake of opening it very high for the year then it is has to always keep above the opening price for the year.
Thanks
@ Manoj Gattani
I am not agree with you ?
Hi Amol
I have just trading the Indian market still looking for better chart services. I normally trade US markets.
As long as 5980 is not broken it is downward it is filled the first gap there are two gaps below which I know.
I can be wrong above 5980.
Thanks
Can anybody say EUROPE opening?
Thanks in advance.
hitendra, cac/ftse 8 points down; dax 25 points down;
@Shriram
ns in 5 min charts is forming a descending triangle with upper line at 5975 near spot levels
generally in channels WW pattern does not work so well(sometimes channel also give result of WW pattern but its rare)
it works best when lines are contracting and pts are having some symmetrical pattern
sorry its descending channel not triangle
Sudharshan ji,
I am still a learner..but to my naked eyes..
On 30 min chart..I see a descending triangle from 321 levels and a small head and shoulder pattern from 318 levels with neckline and descending triangle support at 313.
1 or 2 30 min candles close below 313..will lead to to 305-309 levels.
Bull bear struggle is now at 313-314 levels...
Parimal ji can add more to this.
Raghavendra
ns at 5977.5 i guess some risky shorts can be tried here for trgts 5957 intraday sl few pts abv 5977
its also at res of 55ema in 5 min charts
ns and Bn facing res at 55ema in 5 min charts
ns may trade in small range till IT and midcap may move up a little bit upto 55ema in 5 min charts then may fall together
hum doobenge sanam tumko bhi le doobenge
Sudharshan
Tata Motors: followed up by the reflex point, 3rd seems to have been done and 4th corrective is underway. 3rd has been an extended one. therefore, 5th will be normal i.e., almost equal to 1st wave. 200DMA is much below and a good support in long term.
--> back
right, tks S4S .. in any case we have a Hr Channel UTL breakout... shud seek Hr Candle Res Cluster @ 5986-95 now
Seniors Thanks for the reply
New Post Done.
any possibilty of a gap up opening tomm and a good green day???
Post a Comment