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...
36 comments:
@durga,
7600CE has seen net addition of 620k for today:
http://www.niftytrader.in/nifty-live-change-in-oi/
With this rise the Calls OI should have decreased, ideally speaking. But this fact alone is not enough to rule-out any bullishness.
Day Low : 7479.40 Day High : 7731.05 Range :252 Points Day Pivot : 7596 Hr. Pivot : 7670
Currently a Century above Day Pivot @ 7596 and above Hr. Pivot @ 7670.
NS well above D JNSAR @7683.
NS currently hovering around 7715.
NS in BAH mode in Hr. T/F & BOD in Day T/F.
Below 7648 above mode gets negated in Hr. T/F.
BOD = Buy On Dips
BAH = Buy And Hold
Intra NF OI is up 9.7% as of now with rise in price, to be seen as New Money Long Addition...
EOD bhaav copy will give right pic... Option writers move slower & they have not yet panicked .. May be the CEs are hedges to Futurz longs ?
What all this suggests, is chance of a HH is strong, but it may not sustain.. lets wait for EOD DATA
The EOD Lead Indicator chart says:
Below 7711-26, weakness remains.
Prices have traveled 250 points from 7479 to 7731.
If kept below 7740(in case of an irrugular 'b" in the (4)), the retrace for the rise from 7533 to 7731(3) could play out...
@Sonu --- as Shriram pointed out, it can also by hedge only EOD data can tell it more clearly... tom is weekly close, and key number for now 7688..
Remember Master's words ((As long as prices close below these (21 and 34hr SMA), technicals remain weak; after a close below it, "follow up" is important; if not, trend would reassert))
@Shriram Sir,
In the morning, the Calls addition in 7600, 7700, 7800, 7900, 8000 was 10+ lac
Now only 7900 and 8000 levels are holding those additions.
@ Sonu sir : so tats suggests Short-covering wid this rise ,,
tensun kahe lete ho, OI behaviour sensible che ne ? :-)
On a day, when the spread is 250+ points, you don't sit idle with your positions.
Manage them dynamically.
Prices have fallen from 7711-26 zone, as pointed out. Prices are trading below wk.pivot & 34 Hr smas-7680-88.
@Shriram Sir,
You seem to be in good mood today :)
The 7600CE OI is declining with the fall. Good sign for bulls.
@ Sonu : mood in our hands, always better to be light n happy .. except when some clowns come along trying to divert attention :-)
We are here to learn how to make money , then lets make that damn money !
"7650" is an ideal level to complete the correction for 7533 to 7731 rise.
Weakness gets pronounced below "it", also 5DEma & 21 Hr sma.
This is the retrace, the last one for the day, can make or break the "Bulls".
7690 7696 ... is 50%-61.8% retrace of the last fall from …… 7718 to 7661
80% is - 7707
If weakness is to return, it should be around 7690 7696
Strength gets confirmed above 7696 OR 7707
Master,
BNS again flirting with St.5DEMA ... shud close higher ideally sir, for impulsive odds ?
"7661" itself is breaking.......alert..
another 100 points gone on BN ... just like that.
@ shriram,
If you look at the alternative:
A 3 wave from top, followed by an irreg. flat which is mistaken as a 5 waves...!!!
And that is bearish...
C of 4th sub-wave?
Tks Master, saved the day !
BN now in -ve
@Hitendra
It is tough to be sometimes bull sometimes bear!
https://www.youtube.com/watch?v=ZZwF4_-dJK0
@SBSB
:D
3.00PM TT & Chart updated.
@Ilango Sir,
Weakness now confirmed?
@sonu -thank yu it was now clear prices are going into trading mode. Premium eating plans on the cards. So wn yu actually mentioned yur observation - 7600 call addition is writing . Good and early observation . Keep going
literally saved the day - Master hats off !!
@ Sonu,
Ilango said...
The EOD Lead Indicator chart says:
Below 7711-26, weakness remains.
Prices have traveled 250 points from 7479 to 7731.
If kept below 7740(in case of an irrugular 'b" in the (4)), the retrace for the rise from 7533 to 7731(3) could play out...
July 10, 2014 at 2:22 PM
Weakness was always there; market gives a false feeling intraday. Only EOD close will confirm any reversal...
dlema breached
Prices are closing below "Most" HEmas;
Prices are closing below "Most" close emas.
Prices are likely to close below "Day & Hr" Low Emas.
Day Low : 7479.40 Day High : 7731.05 Range :252 Points Day Pivot : 7596 Hr. Pivot : 7650
Currently below Day Pivot @ 7596 and Hr. Pivot @ 7650.
NS a century below D JNSAR @7683.
NS currently hovering around 7560.
NS in SAH mode in Hr. T/F & in Day T/F.
Above 7571 above mode gets negated in D T/F.
SAH = Sell And Hold
@AJ....Anything is possible....Nothing is impossible.....
Tough to swim against the current.....Easy to flow with the river.......:):)
Tough if one gets attached to the role.....Easy if one is just an actor.....:):)
Just flow........Let the Universe take care of the nuts and bolts.....It does a perfect job.....:):)
Dear Ilango Sir,
Yesterday you had mentioned negation of ED below 7650 and possibility of a complex 4th sub-wave. So should we now consider this fall as the C-leg of the 4th sub-wave or the tentative label of 5th wave finishing at 7809 is more probable now?
Thanks
jai bhole
Tempestuous day; kept out of the market. Bye sir and friends
LV
@ Raman Kapoor,
5933 to 7809, a 5 wave done.(Almost). From the price behaviour on a key event day, it does seem so. Nevertheless, FII flows in cash mkt is positive so far. Today's data will be keenly waited for.
the 4 th wave mentioned is for the rise from 4770. Before that keep in mind this 3rd wave that started from 5933 could sub-divide too.
We travel the direction when waves offer multiple options.
@ Raman Kapoor,
ED gets negated when "d"(the present fall, so far 7479) goes below "b" at 7442.
Master,
When time permits, pls list out all the labels with alts. that seem viable to ur eyes pls :-)
So Ilango sir, does C wave correction still pending before any upmove?
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