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...
36 comments:
Resisted closer to the filtered 80% @ 6014.
Weakness starts below 5985-90. More Weakness below 5945.
Finally verdict is out. Will hold trailing longs @5985/5945.
Heromotor faced 200DMA (1936) resistance and retraced 1901. this is the fifth attempt in vain. if one this level is crossed, may show big stride.
GOLD NEWS UPDATE: Finance Minister P Chidambaram warned that the government may be left with no option but to make gold costlier, unless consumption of the yellow metal declined. An easy way of doing that would be to hike import duty of gold, which would push up the domestic price of gold.
this hour HA open-high same 5995...if not broken then caution ahead......
Ilango sir thanks for new posting. Sir ur told ystrday targt now reach. Than go short today sir pl ansr.
Having consolidated for 14 trading days in 5965-5825, the break-out gain from the B-out point of 5915 is just "90" points. That is muted presently.
Sir,
Very true. just observing.
upside from 5965 is less than .382 upside retracement.
Europe in Green. Hangseng up by 2.81%. SGX-6035.
@Sanpot: We are trading @6039 on NF
BN and CNX IT had NR7 day....
Sir nifty has done a 5wave decline from 6006...please confirm
Parimalji,
ur view on Wipro pl
@rajapvt-yes.
@ puravi,
There is no impulsive 5 waves down. It looks corrective. However, sub-dividing is possible if 6000 is not breached.
Hitendra
on hrly chart of Wipro, some corrections are seen. price is yet to move below 34hr sma. day indicators are pointing downwards. if hrly price goes below 34hrsma, it may influence day chart also. now most of the stock prices will dance at the tune of Nifty.
thank you sir
Thanks.
What is value of 34 hrsma pl.
Master,
As u told 90 point gaIN IS MUTED, SO can we assume
SL for conservative trade is DHEMA?
many thanks and goodbye sir
@hitendra
5930. as mentioned in chart.
sir would you then advice part booking here...as resisted at 80%
@ Ilango sir, does a close below 5989 ....breakout point merit a short position overnight?
Wipro: 21hrsma 394, 34hrsma 392. 5DEMA is about to cross 21hrsma downwards.
@ puravi ,
Considering this "5977-6014" has been discussed often in the past during the rise from 5548, profit booking is the right thing to do. (Also it was closer to R3 of the day)
i mean JNSAr trade
thanks sir
anmpatel Thanks.
i m asking of Wipro.
@hitendra
oh..sorry.
@hitendra
wipro gave sell in 30min t.f at 394. SL swing high about 396 or two close above 21hr sma. i use 30min t.f to trade. one more suggestion i use 5EMA-21EMA to generate signal, which will confirm by 21-34hr EMA.
thanks.
sir,
Can you please educate me on how did you arrive at the filtered fib retracement level of 6014 ?
previously I have come across your updates on filter applied on jnsar values but did not come across filter on fib retracements, especially on the last figure of 80%. Can you throw some light not this ?
anmpatel,
thanks.
r u from?
@hitendra
ahmedabad. u?
oh
i m ahmedabad.
navarangpura
me from bopal...nice to see someone on justnifty from hometown. keep in touch.
wishing that Nifty to open near 6005 with a day high of 6013.80 and visiting Jnsar at 5905 in coming days, if reversed like that- it will be similar to 5815 reversal to 5550. So this time Nifty need 5700 as its base, but market is crazy, and big players have only one agenda- that's- "The Target"
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