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...
29 comments:
only 20 points range from 10 am onwards.
The Stock of Financial Technologies (India) has been decimated post result, down to 978 from the top of 1200.
nf: hr- Lema = 5956
@suja
yep, hrly stochRSI '0' so fall is expected...but please dont trigger JNSAR long SL....5938. thanks.
NF protecting open low same 5948.
--> back
If 5937-44 zone NS holds, Bulls will smell a bounce to 5970-6012 -6025
@piyush sharda
master chanded JNSAR to 5948 so 20 filter so SL would be 5928? right?
thanks.
shriram,
support u 4 support.
50% retracement lvl from 5970/5904 is 5937 that is 1 low of today's low.
Requires to be hold till friday for upmove.
@ ampatel
5948 is tomorrow's developing JNsar whichIlangoSir usually updates in the chart.
Regards
@amnpatel,
if longs were taken at 5958 s&r shud be 5938.
nf: t2 breached
Ilango
As per pre-market and your observations today, can we consider this a buy zone?
Parimal ji,
We discussed about Financial technologies around a month back on Negative divergences and likely support around the 34 WEMA.
Prices have reached there now.
Raghavendra
Growing and flourishing like mushrooms: Indian industry of scams, on a regularity.
Hi Raghavendra
yeah we did so, now what is your take, i shall study Technicals EOD and certainly post here.
also shall study SBI, this counter has made corrections to Golden Ratio, almost.
55EMA in daily charts at 5920 may lend support now for any upmove if has to come
wish to see close near 5955 today and again tomorrow retest of 5970-75 range
@ Hitendra,
Looks like the supports were @ bit deeper Static 5DEMA (5930) & 30mins cluster @ 5918..
In any case, this hints @ weakness of upmove & now the rise from 5880-5969 looks more like A of a 3wave ..
if 5930/18 holds , the retrace will stop @ 5918 + (50-90pts) ie. = 5970-6010 range max to max...
NF at this moment below 21hrsma and 34hrsma
61.8% retrace from 5900 lows done in NF, 50% done in NS, gap filled
Parimal ji,
Will have to study EOD and EOW prices on Financial Technologies.
SBI : Tracking it since 1 month and brought to the forum's attention on "faster retracement" from high's of 2552 to 2424.
Looks like a 5 wave is at the end. Strong support at 34 W EMA @ 2238-40 levels.
Raghavendra
@ Indus,
Downtrend got exhausted @ 5879 onwards and a "trading range is developing" during this "pause in the trend".
Trade the favourable range, meaning initiate the trade which is closer to the support or resistances for "Intraday only" as the main day & week trend remains Down.
CNX Midcap Index has slided below 8000 mark, displaying further weakness in the broader market sentiment.
Ilango said...
@ 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.
February 13, 2013 at 12:01 PM
@ varun kumar ,
Channel bottom would be around "5940".
February 13, 2013 at 12:54 PM
Thank You Sir For Clear-Objective view &
On time update & Support. Was Very Helpful.
23 pts for 5955
18 min remaining
cmp 5932
shriram,
if 5930/18 holds , the retrace will stop @ 5918 + (50-90pts) ie. = 5970-6010 range max to max.
+6000 by week end.
@ Hitendra,
Cant say how much "time" thee "b" from 5969 will take !
First of all , to confirm this is a "b" , it better @least close > 5DEMA in a gr8er downwards WkHi-Lo EMA channel ;-)
16 req in 8min
if ns doesnt break below 5919 tomorrow then may see a very strong upmove from friday
tomm sbi result
inflation data
respecting this msg got yesterday.
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.
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