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 ... -
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26 comments:
i have buy the nifty 7566 so we hold the nifty or exit it so which level we exit ?
Please advice it.
New low for BN
Ilango sir,
Can the current wave - going now be - 5th of 5th of lower degree ?
Sir as per premarket post for bullish ST.
Conservative hold above 7495 minor bounce possible ?? Is this valid now also
Day Low : 7495.30 Day High : 7625.85 Range :130 Points Day Pivot : 7593 Hr. Pivot : 7535
HKPC broken momentarily.
Currently below Day Pivot @ 7593 and Hr. Pivot @ 7535.
NS more than a Century-n-Half below D JNSAR @7679.
NS currently hovering around 7510.
NS in SAH mode in Hr. T/F & in Day T/F.
Above 7541 above mode gets negated in Hr. T/F.
SAH = Sell And Hold
@ NI3 ,
Around 749(Keep a filter of 5-10 points), a 5 sub waves being done from 7596.
It, now, depends on the quality of bounce...
G.Afty Master & JN Family,
have a gr8 trading day !
@ Raghavendra,
When in doubt, refresh the google chart and go on verifying higher T/F from 5 min to 30 min to day to understand the wave positioning as well as alternative scenarios while keeping in mind the changes in technicals in diff. T/f.
If multiple scenarios emerge, trade with lesser qty or wait it out.
From day's high, I see 3 waves so far. 7626 to 7549; 7549 to 7596; 7596 to 7495 or a bit lower.
@ Ilango sir
Thanks a lot sir
@Prabhanshu/ Seniors and Ilango Sir- Is RCom a buy at current levels?
The stock's fallen down over 20% in the past week now.
Also is it unusual for a stock in its 3rd wave to behave like this or a correction of this sort is usually normal..?
Now focus on the quality of retrace for the last fall from 7536 to 7483 and then a larger retrace from 7596..if strength returns above 7522.
Filter below 7495 has exceeded - weak.
sir volumes at the low point of d day were higher than usual at 7481,nifty future.what does it mean?
@ rashmi,
Probably a short covering at yesterday's low of 7479...
OR at the break of 7479, yesterday's low, new short signal generated and more shorts added - price behaviour will reveal the truth....
Remaining below 7510-20, intraday cluster would be weak..
thankyou sir
another big spike in vol at 7525 spot nifty,probably some buying?
Rcom at 121.... it won't go below 113.60... low might be done at 120.60...take your call and trade
dear sir below 7505 panic...?
@ herry,
You'll never panic if you have a SL for your trades....
@ herry,
You have understood the retrace concept well.. Good for you.
Last fall from 7536.35 is almost retraced fast .... another 0.35 pts..
dear sir BN viwe given plz...?
dear sir nifty not above last H high
i-hns formation after 12 pm today with neckline at ~7633?
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