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...
42 comments:
hitendra,
my understanding is, red indicate the bearish rising wedge, abcde done completing the 5 wave.
now the red rising wedge is also broken as per the sirs chart
@ Hitendra,
Red 5 means "Uptrend" has ended @ 6101.
Using hour chart to spot such tops have limitations. Hence, one needs to use other confirmations of "key levels breaking down".
There are other " possibilities" are also marked in the chart.(in green colour)
closing below 6087 can be dangerous (for Bulls)
Low of yesterday broken.
Thanks sir for the clarification.
For BN, is it trending down in a channel now since reaching 12900 ?
or is 12600 a very strong support that it is not breaking down that?
Nifty hitting ATR Buy zone
Hi,
Is anybody observing Sesa Goa ? Is it sell on rise ?
If a "Conservative trader" initiated a "Short trade" based on "Trade the ranges" suggestion, the trade may be "carried on".
Read "carried on". as "carried over".
6048 broken
From one of the friends...
Today is the 5th anniversary of the mega fall of indian equity mkt . On 22nd Jan 2008 NF had crashed more than 800 points from the top of the day!!!
http://news.oneindia.in/2008/01/22/sensex-crashes-below-2000-points.html
fast fall after a long time awaited.
Sir,
Previous HH & HL was 6094 & 6048
But today made new High of 6101
without breaking 6065 so
New HH & HL becomes 6101 & 6065
Now breaking both.
Please correct me if I am wrong.
Afternoon Everybody
BankNifty showed it's real face after initial support.
Good afternoon Mynac.
GA Dear rajapvt
COAL india near 200dma .. break below 347 will call for deeper correction
Good Afternoon Mynac sir.
JNSAR-If short here is favourable
Tata Steel is also in race.
Dear rajapvt,
Where are contractors (FII) today ? Are they absent ?Cause now a days on daily basis they are on contract to support and save Nifty...:)
@ HARISH TAHKKAR,
If you see the chart, 6048 is a minor Low but the significant low is 5988.
The inability of the market to record "significant high" suggested of some correction possibility.
More weakness below 6037-Wk.pivot only.
From res:6090-6105 to support 6047-57 - Day's trade done.
Monitor the retrace of the last fall from 6081 to 6043 for signs of weakness returning.
Bank nifty bounced frm master level of 12545 and again came back to the same level and hovering around the same.
Appears weak trading below JNSAR,34 hr.
5 DEMA is 12679 for BN.Let's see where it lands !!!
Looks like today they wrote 6100CE. 20% addition so far.
candle lighten at 6048 ha ha ah bye all .
Who will get burn for the candle? BULL or BEAR?
Sensex at 20011, 20000 is the psychological level.
is it possible that ns may move uptill 6077-80 range now and another gapup tommorow for new highs?
@S4S: Let's follow trend rather prediction.
Thanks lot Sir,
For detailed explaination which made me
to understand well.
Parimalji,
Created short in Wipro at 399.95.
Should I hold?
Thanks.
@ STOCK4SURE,
The "green" rising wedge could make either a truncated high closer to 6100 or a bit above it. Hence, 6135 is critical.
Is anyone aware about HUL result?
many thamks and good bye dear sir
@hitendra,
Hindustan Lever Q3 Net profit Rs8.71bn (up 15.5%) and sales Rs64.3bn (up 10%)
Thanks Amitabh,
that is the precursor for downfall in mkt.
Wipro seems to go down still further. let us see
hindunilvr ki zabardast pitai
whats reason??
altho results are good
@S4S: Do we really need to watch the news for the fall/rise?
Thanks Parimalji.
S4S,
mkt ko HUL result pasand nahi aya.
Diwali ki garaghi me 10% sales, kum laga.
Post a Comment