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...
23 comments:
Namaste Dear Sir and all friends
have a nice day of trading
Ilangoji,
Good Morning
Namaste Ilango Sir ad blog friends.
LV
Good Morning Sir & All Friends.
Good Morning Master and Seniors...
Good Morning Illango sir & friends wish you to have happy trading
NAMASTE SIR
@Kumar Sir,
Sir meri wife ko operation se baby hua uske baad 5 hours baad meri wife ko har 6 hours me total 2 fits (daure) padene ke baad doctors ne meri
wife ka brain mri karaya hai ab daure to nahe pade hai but report me kuch disorder aaya hai.Doctor is saying ke meri wife ka 3 months treatment chalega.uske baad bilkul theek ho jayengi.please give your views and suggestions.
BEFORE READING THIS, REQUEST : FOLLOWING IS MY VIEW ONLY, NOT ANY RECOMMENDATIONS, DONT FOLLOW THEM BLINDLY, kindly apply ur calculations also, anybody trading on my following views will be trading on his own risks only.
markets are at a very crucial junction
LET ME TELL ALL OF YOU , WHY
BEFORE THAT, let me explain, i need views and reviews from all of you too
Metal sector - Yest. all major stocks i.e. tata steel, jindal steel and sterlite , all of them, very close to their bottom support gained huge upsurge in their volumes, these volumes were generated, when scrips were breaking earlier supports, which they made when nifty made a low of 5852 last week and all three closed a percent or percent and a half lower to the average they traded round the day
OFF METAL SECTOR, 2 scrips which did not gather volumes were bhushan steel and sail, both these scrips are in DOWN TREND, of which sail has last hope @ 75 ( which i believe sooner or later is gonna get broken, thats why there were no volumes in it yest. )
MY CONCLUSION - churning going on within metal sector in last 6 weeks or so, strong stocks i mentioned may bounce back from here only or may not go more than 5 % lower from here, whereas weak stocks may show a spike of 5-8 % in coming rally and then again shelve off their gains.
ADAG STOCKS - RELCAPITAL, REL INFRA AND R POWER majorly beaten down in last 6 weeks and all of them are at supports, may not fall more than 4-5 % from here and if NIFTY supports may give a healthy returns in coming months.
BANK STOCKS - weak structure, although may bounce back in coming rally of nifty, but dont seem to have any interest left in them for MT, after huge huge upsurge shown by them in last 12-18 months.
FMCG - as ever, ever green, itc pick of the pack , also nestle, and as ever, never falling asian paints, page industries etc.
IT stocks - satyam, infy, tcs, tech m, wipro, all looking very strong, although may retrace somewhat for their rise seen in last 2-3 days, but opportunity to buy
AUTO STOCKS - trailing at supports, mahindra, maruti, strong
Telecom stocks - bharti very weak, idea very strong, r com also strong, but trading at supports
REALITY STOCKS - DLF very strong, same, retractment is to be seen, but will be buying opportunity, HDIL beaten down heavily is lying at supports, UNITECH weak but still not seen breaking its recent bottom of 26 in next 6 weeks or so, so risk can be taken
OIL STOCKS - all stocks including cairn,reliance , oil marketting, ongc, essar oil etc are on uptrend, cairn at good supports, these stocks may fall 6-8 % in short terms, but are close 3-5 % to their supports and are buy on dips
MY CONCLUSION
ALL IN ALL
markets are due for a rally, whatever u call it, pre budget or technical correction or short covering rally, but ALL IN ALL, break of last time bottom 5820 will create a huge huge panics in markets
and thus, MARKETS ARE AT VERY CRUCIAL LEVELS, STOCKS looking strong are close to their SUPPORTS levels, so if 5820 breaks THEY MAY EASILY choose to break those supports levels and people going long in them may struck for next 6-9 months AND stocks looking weak, may choose to punish traders , not identifying trends in them, may choose to shelve 15-25 % in them
OR
IF MARKETS DONT BREAK 5820, Strong stocks may choose to give healthy 20-35 % returns in next 6 weeks and weak stocks may provide a short recovery rally of 8-12 %.
OM SAI RAM
P.S - Trading on his own risk, if somebody following my views
Good morning Ilango sir & all blogmates
Rgds
Saravanan
Good Morning Sir,
Open and low equal ????
Good Morning Master & Friends
ATR Based Trading Signals
Buy Zone : From 5826.75 to 5814
Breakdown below : 5811.45
Breakdown target : 5761.45
Sell Zone : From 5877.75 to 5890.5
Breakout above : 5893.05
Breakout target : 5914.45
Good morning sir & friends.
Sir,
is it advisable to trade based on ORB today?
Though mab be below pivot.
Sir ILango ji and everyone good morning
Goodmorning ji and all.
By fibonacci
nifty INR 5870 SR 5909 and SS 5743 may tuch.
llango sir any conservative trade with sl of 5830 (LBB)
Good morning Ilango sir & all blogmates.
GM Master & JN Family,
trading below < WkLo & DLo, the markets are Impulsing clearly...
Follow 5EMA to prosperity
TCS, Infy, Wipro are on the razing swiftly
Good Morning Master and copy to All
New Post Done.
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