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...
12 comments:
Dear Ilango Sir & Blogmates,
OI Table Update at 2:00PM, Pivot-5887, R1-5915, ATP-5902, VWAP-5901
6000CE writers have made it sure that the level won't be crossed in a hurry now, intra upside looks capped for the time being due to huge aggressive addition at 5900CE…
Thanks & Regards
shr - my 1st target done NF 18 (morning posted) still has chance for 33/52/65. If not resisting 17 then "go back to previous menus" :D trend is not clear i am with some target and getting down from the bus with my trailing SL. this hr may try 13/18 something just it's moving with some points.
hiten - borderly happy with the 2 pm closing need some confirmation on follow up @ 3 pm and EOD too. non-trending mkt.. will change my mindset often :P :(
Suja sis,
i am expecting NS/NF will close at high of the day @ EOD.
R1 of 5907 requires to hold.
Nifty approaching ND Sir's ATR sell zone
Developing Morning Star in nifty daily chart?
@Ilango
My observations are as follows:
1. Downward impulse movement is lacking
2. Trading above 5DEMA and close to JNSAR at 5920
3. Upcoming budget event
Would this then be a case for positional longs on JNSAR trigger or are my observations premature in the sense that this could still only be a pull back with chances of whipsaws?
@ Indus,
There is a "pause"; whether it is a small pause (for the 5970 to 5854 fall) or a big pause(for the 6112 to 5854 fall) is the question now.
"5927" is equal to 61.8% of 5970-5854 fall.
Sustaining "5910-34 Hr sma" would be a sign of ST strength.
With such small ranges, whipsaws are likely if positional trades are taken midway. Original positional trades have to be trailed while "intraday trade be initiated if the entry is available at support/ resistances"
Dear Gauresh Sir,
When I mentioned Fear, it was with reference to the India VIX, which is up nearly 2 points over previous close. Since I trade options (preferably by going long Put/Call), higher Vix will be good. Only thing is if this VIX spike does not sustain, then the premium will collapse
and we need to be prepared for that.
Regards
3pm open high same for NF
Market will close at5901.
avg close coming at 5898 to 5899 levels, above all LEma and 385 retrace levels
Correction, 38% retrace levels
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