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...
34 comments:
Namasthe ilango sir and friends,
Today's quote received :
When life gives you something that makes you feel afraid,
that's the point when life gives you a chance to be brave.
ns :1st strong res @5975
5968 seen.(38%)
& nf @ 5985
Bulls are back .. heading to highs again
for bulls to be more active,they need to conquer
in ns:>5975 and nf:>5985
Good morning Ilango Sir and friends.
@Master,
TataMotors in Daily timeframe which wave it is now?
2nd wave or 4th? i m confused. pls guide when time parmits.
Good Morning Master and copy to All
Sir,
Level of conservative buy did not come yet. So should I wait for it or JNSAR level can be taken as conservative ?
Thanks
GM sir nd friends :)
Enough for Nifty future??? move above decesively 5984 only +ve upto 6001/04/ and 22 or else -ve?? any views chartists???
Dear Ilango Sir & Blogmates,
OI Table Update at 11:00AM, Pivot-591, R2-5975, ATP-5965, VWAP-5965
5900PE OI just moved above 80 lacs, with huge addition for the day, and now is a very good support for the Series, intra 6000 looks like a huge resistance…
Thanks & Regards
@ online commodity
With kind permission of llango sir,
I request you to pls don't spoil the atmosphere of our blog.
Pls share your knowledge.
Thanks
@sujatha
nifty hrly stochRSI is 100, and daily is just trying to cross 50... suggestive of developing new uptrend..after 10days daily HAopen-low 5915 same. so looks positive.....
but i always scare of your contra comments!!!!
Yesterday msg:
Nifty is still in range bound between 6111-5872.However,nifty is seen in the verge of expansion.Will it happen?Possibility of increase in range would again push nifty into the trading range rather than in expansion mode for now..(see chart)
MACD Divergence is Negative(would become positive above 5895)
Feel that nifty would again move up towards 5940-5950 initially and then towards 6000-6050 this week..
Expect the February series to close above 6000.
@Sujatha sis,
You are right but not falling is worry
Bearish Flag - Nifty Future Chart
Click here
Any views on Tata steel?
Today is result day.
@ Dr
Can this be a case ??
http://2.bp.blogspot.com/-lYh1_eJith0/URsrLyoybaI/AAAAAAAAAxs/wgBQiuzEfr4/s640/India+50(Hourly)20130213135410.png
Parimalji,
Specially to u on tata steel.
Thanks.
@ Nilesh Patil,
Tata Motors has done the 1st/ A wave with 5 sub-waves from 337 to 268. Now it is on its 2nd/ B wave.
Jan.month, it closed below MHEma - fits into a "Sell on rise" but on a monthly scale.
Weekly too on sell on rise.
sir ji,
how can v analyse the trend based on
pivot-weekly.
pl explain
thanks
Pattern Trading
Yas it can be it will qualify for
Mirror patten or roughly an inverse HNS
a bullish WW developing though its non symmetrical but have seen some times /rarely these type of pattern also works
pt 5 have formed and have taken considerable time
pt6 the target price is near 6070 tomorrow morning
so its just like a wild guess
plz dont trade only on this view
DR/Nilesh - ji - thank uuuuuuu very much. there is a itch and thought that will it move sluggishly to upside upto 6050??? :P but i can't "trade my itch and thought" :D today's EOD close around 57/66/76 means cat on the wall below this "personally i feel -ve" again.
anm ji - am not posting for fun..really some worth no. i don't hv chart but check DR-ji's chart. donno mkt will slap me or will give something on the table
GM Master & JN Family,
Ysday's Bull Flag has played out... & gone beyond the tgt of 5946NS
If Bulls , want to convert this retrace into a new trend, @ minimum they will need to conquer 5970 & ideally take out Candle RES Cluster @ 6000-12 (also the Dev WkHiEMA)
Bears will rule if NS closes EOW < 5970
Have a gr8 day!
Thanks .. for rely :) If so can i post one more wild wish :)
If this pattern turn out good then we will have one more huge Inverse HNS .. with right shoulder already formed. on sir's hourly chart .. and now head will be completed by target of this minor HNS
shriram ji
Congrats on your identifying Flag yesterday
on very small timeframe.
@Master,
Thanks, it is clear now for me. :)
@Mater,
Nifty Closed above DLEMA yesterday & currently trading above DHEMA & Jnsar But still stucked in a very small range with resistance @ 5975 ( 21 DEMA ) .
What would be the significance of this in such scenarios ?
Time for pause or time to trade light or Something Big is on the way :)
DR ji
thank you.
@ NITIN KADAM,
Breaking the channel and then climbing back into it is typical of "the end of 4th wave and start of the 5th" - This is the bullish view.
A 5 wave decline can retrace max. upto 80% retaining its bearishness and hence 61.8% to 80% of the current fall comes @ 6023-6065 and then the resumption of downfall. - This is a bearish view.
Both points to ST bullishness since the +ve div on Monday. Change to "bearishness" once the channel gets broken again.
New Post Done.
@All
Can anyone tell me as to where to find 14 / 21 days ATR for all Nifty 50 stocks. Is there any blogspot available which gives this information on a daily basis?
Thanks in advance
Veer
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