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:
Simple observation : when ever prices moved 125 to 150 pts away from 34 hrsma - there was a time correction to catch up with this average.
Currently price is nearly 150 point away from this average.
BNF still has strength...
Ilango sir, J10.SAR value of Aug 19 is not correct, In morning post it was 7736, currently it has the value of Aug 20. Pls check.
Sir ,
Whats the probable count looks from low of 7540 ?
First glance looking into hourly gives the appearance that 1st wave completed at 7757 with 23% correction till 7696 and 3rd started from there subdividing and 3.iv going on now with one more impulse to complete 3 .
Because the fall from 7919 to 7882 resembles a 5, it is possibly a zigzag correction. Hence,
7901 7905 ... is 50%-61.8% retrace of the last fall from …… 7919 to 7882
80% is - 7912
If weakness is to return, it should be around 7901 7905
Strength gets confirmed above 7905 OR 7912
@ Numchar,
Or 3rd ended with 4th going on - approx 60 pts correction ( 2nd wave quantum) coinciding with support cluster between 7865 to 7855 levels via week r1, hrlema, 50 to1.8% retrace of the rise from 7817 and last evening - last hr consolidation zone.
SBI future currently at 2440 , shows a high of 2485 . Watch out for Bank stocks and BNF !
@ Bhavin Naram,
In morning post the J10SAR shows the same value of 18th for 19th too.
Once the market starts, it changes based on the price closing on each hour - meaning it is developing. Only with the EOD price, the new J10SAR is established.
@Num Char,
Your first observations have a lot of intuition and unadulterated observation. Cling on to it.
Develop/ maintain that approach.
Dear Ilango Sir & Blogmates,
OI Table Update at 11:00AM, Pivot-7846, R1-7919, S1-7805, VWAP-7903
The PE Writers are in commnad from the morning itself with huge addition at 7900 Level, Buy in Dips till VAH at 7886 NF is held…
Thanks & Regards
SBIN enter in positive bias with 13&34 EMA crossover
Thanks Sir !!
Your words are blessing .
@Raghvendra
You could be right , I dived into shorter time frame 1 minute which gave a feel of from 7696 to 7780 chota 1 and then correction till 7760 and 3rd started from there . ratio wise it looks 1.618 of the 1 Though shorter time frame is very subjective and fragile and view can change frequently so I use only for observation.
JN group... I appreciate if any one can share Linear Regression Intercept and Forecast calculation in Excel file please
1 week back all people were saying 7200-7300. Now they are saying 8200-8500 by September. I feel a better rally will be there in the year end.
Does any one see a +WW developing on 15 mins NF charts?
New Post Done.
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