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...
18 comments:
vth of the upmove from 7655 seem to be sub-dividing from 7724.
Prabhanshu - What is the new EW count for BHEL now?
At Pre-Mkt's res. @ 7757. ; also at previous cluster resistance - 7749-55.
Strength above these.
Faster retracement of the fall done in both Nifty and Sensex.
Last up move in Nifty from 7540 to 7755 took less time than the time it from moving down from 7752 to 7540.
Sir,
What is the suggested filter for Bank nifty ? It hit JNSAR @ 15063 for Long but below 15063 now.. Can we keep week ema (15020 ) as SL for this JNSAR and reverse the short for short ? Thanks..
SN
@ S N,
I do not trade BN at all.
The filter for BN, comparing the same with Nifty, has been suggested as 60 approx.
Let BN traders share their experience of using filter for BN.
Application of filter mechanically is not a refined method; But considering the presence of Key numbers closer to BN JNSAR would make it an effective one.
@ Bhavin,
For a newcomer on the blog : Good place to start are the links on right hand side of the page.
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Always Start Trading with these
1. Trending or Sideways.?
2. Pivot, support & Resistance
3. ORB
4. Divergences + / -
5. Trade time cycle-Min/Hr/Day
6. JNSAR Trading method
7. Trading Discipline
8. Tech. Table Reading.
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Good morning Ilango Sir and all the Blog mates!
Hi Bhavin Naram,
Pure JNSAR trade should be taken when 2 days close below JNSAR value.
10 JNSAR is 10ema.
My observation is when JNSAR goes above 10JNSAR fall is likely,
when 10JNSAR goes above JNSAR rise is likely in the nifty.
Voltas hourly chart enclosed.
http://prntscr.com/4cazer
Above 210 it looks boolish. Below 206, -ww will form.
Sir - Thanks. Our JNSAR works very well for BN as well. Hence I venture in BN .
I will wait for our frineds views and guidance. Now I remember some of our seniors were using 75 points filter.
Another thought was applying day pivot as SL which is just 68 points for this this trade.
Regards
SN
as B top was 7752 and mkt crossed it, so can we say that this small B out, or currently we are in progress for B and C is pending.?
Dear Ilango Sir & Blogmates,
OI Table Update at 11:00AM, Pivot-7723, R1-7782, R2-7815, VWAP-7752
The 7700 Level for the day seems to have gone to the Bulls with huge addition of more than 10 Lacs and now OI around 50 Lacs, Resistance still very good at 7800, Buy the Dips…
Thanks & Regards
Thanks guys for your help and guidance. I will have a look at all the material on this blog.
11.00AM TT & Chart Updated.
7706 7694 ... is 50%-61.8% retrace of the last rise from …… 7655 to 7757
80% is - 7675
If strength to return again, it should be around 7706 7694
Weakness gets confirmed Below 7694 OR 7675
good morning ilango sir and blogmates
-ww visible in 5 min target 7680 approx
2-4 line break confirmation below 7720
Newer LOWS for BNF below n sustaining below 14965. current resistence at 14990 which is the 50%@ retracement av the current subwave
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