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...
32 comments:
HCL Tech: is a very good buy whenever is takes support at 50DMA. now to wait till it retraces to 50DMA.
@ llango,
Can it be dat a 38.2% retracement happened already at 5969 in the form of a 3 wave abc?? And we may have started the next swift iiird down? Having a look at the pace with which the markets fell can this be a possibility?
@ llango,
Sorry. I meant the bigger 3rd down.
Financial Tech: has been beaten down, has long term support a 200DMA (900). if this is broken, then deep cut is possible. CMP is 904, more than 6% cut this day.
@ NEVER GIVE UP,
SBI has triggered a "Sell" last week when it closed below WHEma & WEma @ 2412 and has shed nearly 10%.
80% of last rise from 2041 to 2552 comes @ 2143.
Use the TT colours to trade those "low risk-High reward" set-ups from various sectors.
If the fall from 5969 (yest high) was in the form of 5 down then doesnt it gives more credence that the 3rd down may have started and shouldnt one short on rises with 80% retrace as sl??
@ Ankit Solanki,
It could happen as the "retails tendency to play the bounces" would trap "baby bulls" and the next downmove would open up deceptively.
Only factor that goes against it is the continuous inflows from FII's.
We trade mostly by the technicals which is derived from "prices that discounts everything"(including FII activity).
TSL is the solution to such dilemma. Choose an appropriate tsl that suits your style.
@ llango,
Thanks
SBIN: in consonance to what Dear Master has posted, 200DMA comes to 2162.
Closing below "5925"(34 Hr sma) next hour would cancel the "Conservative Buy" suggestion.
CNX Midcap Index: below 8000 level is very bearish indication for the broader market.
Good morning Ilango sir & all blogmates.
Reliance Capital: sliding down has long term support at 392 (200DMA).
Ilangoji,
3 waves from bottom (5880->5916->5886->5969)
Then 5 waves from 5969 to 5911, breaching the "A"(5916)
Can we assume that correction is done and wait for the correction for this 5 down to short?
Dear Ilango Sir & Blogmates,
OI Table Update at 11:00AM, Pivot-5947, S1-5916, ATP-5935, VWAP-5936
Nothing much to write about, evenly match for the morning, waiting for big news coming out today, till then it’s a small range…
Thanks & Regards
@ MASTER
Close bellow your observed price so Is It good Setup for Fast Fall Setup ?
@ Arif, sandeep bhoite,
The observations made so far is that " a corrective bounce is on.
Positional traders would continue to hold shorts and
Intraday traders would initiate trades based on the "supports & resistances" indicated.
Minute waves have multiple possibilities and some aren't even indicated in the hour chart.
@ MASTER
Thanks for very guidance & I am very much amazed every time how great(in respect of idea & time manage) u manage our query :) thanks :)
sir
a bullish WW developing in L&T 10 day charts
is it worth trying longs near 1455 for trgts near 1518 in 4-5sessions
low made so far today is 1460
Master,
5waves of B.a done here?
Namasthe ilango sir and friends,
Today's quote received :
The best gift you can give ever to someone is your time because you are giving them something which you will never get back.
Hi Illango,
I m trying to learn wave counts.
Could you please validate my wave count, that I have tried? It's bit different than, what you posted in Pre-Market.
http://s17.postimage.org/72qa6zs9r/Nifty_labels_14th_Feb2013.png
I'd really appreciate, if you take sometime out and guide me too.
Regards
Yogi
@ MASTER
break of 5912 seems extened correction of B
lets c if ZZ or extended
Is above Reading is right for B ?
Good Morning Master and copy to All
Ilangoji,
Thanks for the clarification.
Waiting for JNSAR to trigger................
small ihns in 2 mins charts ... neckline around 5940
@Ilango
as per pre-market, could we now say that the "C" has commenced?
ns trading within a channel pattern in 5min 5 day charts
5895-5980 are extreme ends of channel as now
ns near mid range at 5935ns
also a small inv H&S pattern developing in 5 min charts
any upmove sust abv 5939 may direct ns towards 5968 again
right shoulder developing
to form may dip again towards 5922-24 range
neckline near 5939
Dear Friends.,
Any idea about SBIN ????
New Post Done.
Post a Comment