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...
27 comments:
A 5 from 7773 completed;
-ve div in Hour T/F persisting..
Watch out for 61.8% & 80% at 7799 & 7787 for more weakness or continuing strength....
Sir, is the CURRENT CHART posted by you a ""MEGAPHONE"" formation ???? indicating a Higher high ???
@Master -- : ) : ) now 61.8 golden ratio on work ?? hope it does again :)
Dear Sir,
Would you still consider the possibility of the current rise from 7422 as part of an irregular flat since the fall from 7809 to 7422 was 3 waves.
Thanks
Nifty's tops flooded with "Broadening tops"..!!
Sir, any view on Cairn India?
@Prabhanshu --- Looks like your 15min -ww min target done :) kewl!!
@ Guru Krish (Trading Nirvana) ,
This golden ratio could fail due to the reasons listed above. And it fails when prices break 7786.
-ww has formed in nifty 15 mins chart. It will trigger with a close below 1-3-5 line aprx 7815 for 2 15 mins. 1-4 tgt line comes near 7750. Min tgt is 7798.
Please note that 1-3-5 may act as support line as well.
http://prntscr.com/45ugt9
Min tgt is done...need to see whether 1-4 line tgt can meet or not. Now SL will be 15 min close above 7816-18
@ Unknown,
Cairn, after completing a 5-wave upmove from yr 2008, from 88 to 401 is undergoing a major "Flat correction:
A: 401 to 268
B: 268 to 386
C: 386 to unfolding....
Thanks Master.. :)
A 5 done from 7841 to 7788:
7815 7821 ... is 50%-61.8% retrace of the last fall from …… 7841 to 7788
80% is - 7830
If weakness is to return, it should be around 7815 7821
Strength gets confirmed above 7821 OR 7830
@Master - what is the indicative value of IV in the first chart above ??
thankyou Sir
@ Guru Krish (Trading Nirvana) ,
(iv)th was 7773 & (v)th done at 7841.
OR
(iv)th is being done and the break of channel would complete the (iv)th around 7735-45 and another new high to complete the (v)th...
@Thanks Master -- I was with your second view ... hence this doubt.
7820 (probable whema +60 of next week) is tough resisstance now.
Sir, 80% gone...waves subdividing?? After 5 waves done at 7788... was able to retrace till 38% only
For the corrective"abc" for the 5-wave fall, "a" done, irregular"b" done and "c" is unfolding....
Watch out for "truncation" as irregular suggests of "weakness"..
VERRY GOOD LEVAL SIR...THANKS..
Ilangoji,
Do you track JP Associates. Will it be possible to give an idea on long term count of this counter
@ Rajesh Singh,
JP Associate is undergoing a correction for the last rise from 36.50 to 89.90.
It's 61.8% retrace is at 56.90 and 80% at 47.20.
Breaking 58.00 would suggest either:
the rise from 36.50 to 89.90 is 3.1 and present correction is 3.2 and it should restrict itself to 47.00, preferably 55.
OR
the rise is corrective from 28.35 as a 3 wave: 28-58-36.5-89.90.
Holding onto 80%-7786. (How long...?)
"b", irregular got extended..as "abcde" and "c" unfolding now !!!
Ilangoji,
As per my understanding...
It looks like this sub wave is forming triangle making this whole down leg as corrective..After this triangle one more leg down to to about 50 points and then up move will start. Again we may see new high then..
Ilangoji,
Thanks much for helping on JP Asso
@Master - Super, so now the retrace would mean many things...thanks :)
New Post Done..
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