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 ...
53 comments:
BN TA courtesy updated and posted on JN google group
5657 is 55ema in 5 min charts
cmp 5650
will ns try 5718 today??
Seems 200DMA lends some sort of support so far, but how long this support will be maintained is to be watched!
--> back
+ww , 1-4 playing out to 5680-95
Multiple RES here 34EMA,30m , DayLo .... need to cross these pts
my guess till expiry nifty may trade with green bias
wish to see expiry near 5900
chhoti si aasha
expanding triangle 5th leg is generally fast and swift
RIL is shooting up, or retracing having a corresponding effect on Nifty
shriran ji,
can u please give details of pts 1,2,3,4,5 and projected pt 6 wrt +ww for learning purpose.
thanks
or a graph with labels
thanks
@suresh :
In NS: pts of the +ww seen today are
1: 5648
2: 5677
3: 5641
4: 5664
5: 5632
ETP : join 1-4 line & project to right side
massive short covering willnow happen since short will not be kept over weekend
NF at 21 hr sma, this may be watched closely
calls getting doubled already from lows
We have seen 2 falling wedges producing sharp reversals yesterday & today.
There is a larger "falling wedge" to be confirmed above "5693"-21 Hr sma. (Chart will be updated @ 3.00PM.
Conservative traders, having part booked @ 5615-45 zone, could close out the remaining.
5698.81 is 21 sma. hrly master can we reenter short here
unwinding started in 5700ce and addition in 5700pe
shriram ji,
Thank You very much.
Opinion :
Fresh I-D trading after 2.30 PM is mostly with higher volatility
due to square of of I-D position of unfavorable trades at other end.
We can understand this looking at ATR average traded price &
VWAP volume weighted average price.If one has favorable position on
this count,trailing SLO gives more profit instead of exiting.
5660 is 55ema in 5 min charts
may lend support if ns trade below 5676(morning highs)
Good Afternoon Ilango Sir and friends.
sir
for conservative trade above 21 sma stop and reverse or wait for new signal to long?
@ illangoji,
if close below 5725 than also we should close short
BN TA file courtesy Sir Ilango updated and posted on JN google group
Hi Sir, please confirm a big falling wedge on BN as well
3.00PM TT & Chart Updated.
5725 ?
BN TA file courtesy Sir Ilango is updated and posted on JN google group
Hello Sir please confirm a falling wedge on BN as well
Looks like today's closing will be a doji.
@Ilango Sir,
cab we assume that the bullish upmove after falling wedge is finished now ??? and downtrend has been restored ?
Thanks
RS
@ Divya thakor, Nilesh,
Considering the "larger falling wedge", I have suggested to book profits fully.
Having just 3 days to go to settlement, some short covering is likely.
More conf. above "5695-21 Hr sma."
Take your own decisions.
rollover going on
For NEWBIE's: Never even focus on any other comments in this blog. Only watch for JNSAR number in price for trade. Do not get distracted by any other comments. ONLY JNSAR FOR TRADE.
many stocks closing < WkEMA & some below MnEMA also ....
Rather than buying bips, better option is to sit patiently & kill all rises to WkEMA / MnEMA with guidance of OI & osicllators
Remember --> Wk & DayEMA whipsaw often, but MnEMA rarely , he is our Shani Maharaj :-)
"5644" is 80% of the rise from 5632 to 5692.
can any one tell me cheapest ad best RT data feeder for unregistered ami
5644 taken out, I remember Ilango Sir saying the foloowing yesterday:
1)sit tight
2) "I won't attempt longs even if 100 points guaranteed"
Helped me to the "T".
Cheers
RS
shriram ji,
i like your nomenclature
for D-ema,W-ema & M-ema.
if we close around 5640 them Monday ha open will be around 5694, as per ha that would be considered continuation of bearish trend. lets see what market tells.
@ RS,
Trend is indicated by the "Close above or below 5 period ema of a particular T/F".
"Threatening the downtrend" needs a close above DEma initially which is far away.
Larger falling wedge, if to come into play, it must rise above the channel as shown in the chart.
VIX continues to be down.
From candle stick perspective nothing special on daily chart except that Down Trend Continues.
and when finally its time to go long DR sir will appear. That will be the final confirmation
@cooldent
lol. yep it will be litmus test!!!
@ suresh:
It takes 50% less time to destroy a building vis a vi constructing it..
thats y, once MnEMA starts trending down, never go CONTRA long in a hurry , take ur time, check out the clues .. caution pays best reward
Do we carry shorts? Senior please advise.
@ Illango
Sir is it advisable to long or short at this juncture...?
New Signal:
Will close below WLEma.
@ vignesh,
There is no threat to shorts.
First threat would be "break of downtrending channel".
Next threat would be a close above DLEma.
Shorts are safe presently though "part booking" is suggested.
Market will resume downward momentum.
@ Illango
Thank you very much sir
sir ji,
if you could elaborate on J10-Wkly & Mnthly sar
Drawing falling wedge giving nice clarity sir thank you very much.
Have a nice week end.
@vivek
with SL of 21hour sma. strictly.
Thanks
asphyxiating to secure MLEMA. Wat nxt??????
Sir,
I am a newbie here, I just look into JNSAR number along with 21 and 34 HR SMA... I missed the trade when JNSAR gave Short signal a week before. Now I am waiting for it to give BUY again.
Should I only sit and watch? is there any way to join the running train? or is it only for experienced?
Please clarify this doubt, it would help many newbies here..
Many thanks
Guru
Post a Comment