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 ...
7 comments:
Needing a follow through mean? what we should look for?
@ Manas,
Another strong Bull candle to confirm the reversal on day time frame.
@manas trivedi..may mean
nifty has to clear 80 %retracement of fall frm 7679to7488. this retracement can be a sell keeping 80 as sl fr many.. second factor is nifty has formed morning star reversal pattern in day charts.though its not a btm rev,,it cud still act as continuation fr on going trend--this needs follow up actio n..the third factor is retracement fr rise frm 7216to 7700 is having golden ratio at 7401 n 80%at 7313==which is expected by many .. hope yu got the answer.bye
Thank you very much, Durgaji and Raghavendraji
Namaste Ilango Sir & Blogmates,
Bullish with Caution: After correcting for the last few days, the Index took a huge U-turn and closed above 7600, and as per OI table 7500 level more or less looks cemented for the series..: Option Analysis for 17-06-2014
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Thanks & Regards,
Sanjay Kr Jaiswal
Good Eve..
Today Nifty's 1Min.cash chart shows consistent close above 7630 with high volumes bet. 3.09 PM & 3.30 PM..Avg.range for those 21 minutes was hardly 3-4 points..On the contrary Bulls maintain Nifty close above 7630(almost) from 2.50 PM onwards.. Terrific Hrly.consolidation....
Is it silence before the storm ???
dear mynac
storm in which side ? open interest shows what about this?
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