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...
29 comments:
@ Raghavendra - Are you referring to the 2nd sub wave within the 3rd wave, OR the 2nd big wave itself?Cause if RCom is in its 2nd sub wave, even a "C" down here should not breach 113.5, 'if' the 3rd has started from there...
July 16, 2014 at 10:16 AM
@ Bharat,
My view is for a larger 2nd wave correcting the rise from 50 to 165. Have a look at the weekly chart - it much clearer.
Drop from 165 to 106 as "A" of 2nd.
Rise from 106 to 157 as "B" of 2nd.
Drop from 157 to 1XX as "C" of 2nd.
Not sure - why it cannot drop below 113.5. Indicators in weekly chart are in firm sell.
Raghavendra Sirji, my view is 2 big wave completed at 107 and 3rd big started and unfolding in 1 2 (1) (2) where start of 1 is from 107 and end of 2 is at 113.50
Day Low : 7540.35 Day High : 7571.35 Range :31 Points Day Pivot : 7507 Hr. Pivot : 7556
Currently above Day Pivot @ 7507 and below Hr. Pivot @ 7556.
NS touched cluster resistance for aggressive trades i.e. 7559-7572.
Once above 7572 next stop is 7605.
NS nearly Half a Century below D JNSAR @7598.
NS currently hovering around 7550.
NS in BAH mode in Hr. T/F & BOD in Day T/F.
Above 7585 mode changes to BAH in Day T/F.
Below 7534 mode changes to SOR in Hr. T/F.
BAH = Buy And Hold
BOD = Buy On Dips
SOR = Sell On Rises.
Prabhansu Sir,, +ww pattern has done or still needs to close @ 7800
Also, if we consider the time taken by rcom to correct from 165 to 107, it looks fine to consider big 2 ended at 107.
Also we have noticed earlier that rcom do not behave exactly as others do in its 3rd wave....
But having said all this, ew is just probability and in which way it may turn, only time can teach us.. but we can go ahead with our preferred counts with proper SL
Master- This looks like a small rally only, creating and filling gaps, may not be able to cross 7670
GM Master & JN Family,
Huge intra adds @ 75PE, bullish @ that strike if remains so..
@ Prabha / Ragha / Bharat : -WW on RCOM on Day TA.. pays to look @ 1-4 once..
Off for the day, have fun all :-)
Kizar, +ww whipped yday but triggered again by closing above 7477 for 2 hours..
I can say 1-4 line tgts comes close to 7800
Perfect bull flag in making in 5 mins spot. Bo above 7571.35, t1 7597 t2 7640 sl 7558 post bo
Sir
can we consider tomorrow's JNSAR today ?
@ Abhi ,
You could have taken the "Cue" from Pre-Mkt Trade table:
Below "7530", downtrend continues..
(Above 7530, reversal in the ST)
Okay Sir.
Good Morning Master and Friends... @ Master and Friends your views on TATASTEEL pls
Seniors pls advice
@ sudharsan,
Tata steel is in its (v)th wave for the rise that started from 332. (v)th has commenced from 492.25 after the (iv)th from 580 to 492 as an "abc" correction.
Most bullish possibility would be that the 3rd wave from 388 would be sub-dividing.
Before considering the wave sub-dividing, let us wait & see how the resistances around 600 is handled.
Thank you Master
sir,
a flat correction keeping below 7572.?
7570-7540
7540-7568{72)
7568-7540(38)
@ vksoni,
Yes.
dear ilango sir can given LT viwe..?
Thanks sir,
c could truncated if holds 7544.
@ Ilango
Sir please give your view on Bank Nifty.......
@Prabhanshu,
Agree with your alternate view. My view is completely based on Week TF and Month.
EW : The wave form does not looks like a 3rd. A ferocious 3rd of C done at 121. 4th of C going on - with immediate resistance at 130 to 135. 5th to come later taking the price to lower levels.
High- Low EMA : Month continues to be betwen high and low ema for past 10 months.
dear sir can 7422 to 7572 count 12345...?
@ herry,
Yes.
@ vignesh,
As long as 14810 holds, uptrend continues:
14867 14810 ... is 50%-61.8% retrace of the last rise from …… 14627 to 15106
80% is - 14723
If strength to return again, it should be around 14867 14810
Weakness gets confirmed Below 14810 OR 14723
@ Ilango
Thank you very much sir....
dear sir and nifty hold 7530 up trande...and below weekness....?
New Post Done.
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