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 ...
33 comments:
Oversold giving a buy signal for intra?
chetas,
potential. +WW developing on Day Candles.. pt will be formed near 5840-50 NS
need to check OTM PE OI build up there , b4 entering longs
SMO: 6000 PE started shredding OI.
@ Raja:
so that means intra bulls r not confident, as of NOW..
what was being mentioned to chetas, is one shall need to check OTM PE OI i.e 57/58 PE OI , as & when we see NS near 5850.
Thanks shriram,
can see a I.HnS on 5mins intra, tgt 5980-85 ?
@Shriram,
yes, above 5965,
Also L3 being 5950 and Cam midpoint 5886
+WW developing:
cmp 5940
possibility of a small upmove towards 5955ns(pt4) and then nifty may dip again towards 5935ns(pt5)
and then towards 5972ns
is ti a double bottom ???
Inverses H&S pattern in M&M 5 mts chart, any body seeing the same ?
Bn may follow
12363(done)
12410
12350
12460(near tomorrow opening)
Ril 24th May , Gap filled
Chetas
TataMotors will also fill up the gap
Dear Ilango Sir & Blogmates,
OI Table Update at 1:00PM, Pivot-6037, S1-5954, R1-6082, ATP-5979, VWAP-5979
5900PE writers still holding on, but looking fragile under the huge barrage of addtion by the CE writers from 5900-6300 level, 6000 level looks remote for the day…
Thanks & Regards
wait for ns to break 5938 to fall to L4
Dear parimal,
Gap fill in Tamo, will be near 38.2, would be a good long entry na,
also a very good IHS, pity when it crossed 315-316 levels, the broader index did not support, i was hoping it will go to 360 :),
Still there is a possibilty that the gap is a break away gap, and the low today is the test of broken trendline connecting 10th Jan and 15th may, lets see what happens
Crossing of L3 may generate buy as per camrilla with sl of low.
Dear Chetas
stocks like RIL, TataMotors which have high weightage on Nifty do move at the tune of Nifty. so these charts may be studied in consonance with Nifty chart. yet, recently TataSteel has been as exception. Nifty did not influence it.
Thanks Parimal,
i am just reading your blog :)
Long leg candle at support level and atr buy zone
Camarilla Update - Nifty Spot
Scenario#1 ~ Stoploss for L3 Hit.
Now@Scenario#3
L3@5950 ↑
L4@5914 ↓
Parimal, your view on Tamo please.
Dear Chetas
I dont have a blog
Nifty 6000 PE made the range of 125 to 135 which we were looking for 2 days. Hope it is good to book profits.
@ DKG,
Do you still beilieve that 6000 PE can make 250/- ?
However there is a chance that Nifty may see 5850 levels before up move.But I do not like to take that risk after reaching my targets. If crosses 135 and closes then will take 1 or 2 lots of 5600 PE by EOD. What do you say?
Hello BB
TataMotors: hrly is acting under -ve divergence. i feel (as i mentioned earlier) gap may be filled, since it could not give a breakout on rounding bottom.
RB2 6043.6825
R2 6028
RB1 6012.338
R1 6007.5
PP 5987
S1 5966.5
SB1 5961.662
S2 5946
SB2 5930.338
Oh, it is Satheesh's blog, I misunderstood :)
Now BHEL ready to see a move like Nifty few minutes ago..towards 194
Now MCDOWEL is ready for a move towards below 2300
@ San,
Visited your chart on nifty today morning. Now the price shown below 5930 levels, do you see more downside on Nifty ?or any short pull back?
--> back
EW eyes:
a 6133 6032 -101
b 6032 6061 29 -28.7%
c 6061 5920 -141 139.6% **
Further tgts for c, if trades consitently < Dev. WkLO
C= 1.5xa = 5910
C= 1.618xa = 5898
C= 2 xa = 5859
@ Ilango sir
Could you please give us wave count and which wave is in progress ?
New Post Done.
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