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...
15 comments:
Good Morning Sir and JN Team
Nifty taking intraday support at day open which concides with the golden ratio for the rise from 7595 to 7751 . Also there is hawala , Month Open , week open in this 7640-7660 range .Breaking this would increase the probability of breaching 50dsma .
sir,
5 th down possibility from 7441?
sorry from 7741
@ Raman Kapoor,
A 5 waves was expected to be completed at open and hence, mild strength above 7665, wk.pivot for intraday traders.
80% of last fall came to around 7717 as of yesterday, hence major strength above 7717.
These are guiding numbers but to be read along with technicals..
@ vksoni,
If kept below 7694 and makes a new low, then it could be taken as a 5-down from 7741 which is a 3-wave fall from 7752.
thanks sir
@ vksoni ,
Truncated low at 7652, DLEma...??
Hourly technicals continue to be "Down"..
ideally we would love to see a divergence on MACD to complete the 5th ? That might be happening anytime soon !
Also, 7640 and 7632 are W5EMA and 50% of the rise from 7422 - supports should be placed around this zone is the sense
sir,
look like 2 day low making process going on.
If Bears do not breach 7645 and sustain, then a fast rise set up may occur. Lets see.
seema a Bullish WW may be developing in NS charts
may have done pt3 near 7641
may do pt4 near 7670 near 12.15pm
pt5 may form near 7630 near 1.45-2.00pm
trgt 7680-90 near eod or tomorrow at open
15014 15032 ... is 38%-50% retrace of the last fall from …… 15105 to 14959
80% is - 15076
If weakness is to return, it should be around 15014 15032
Strength gets confirmed above 15032 OR 15076
7657 7663 ... is 38%-50% retrace of the last fall from …… 7687 to 7639
80% is - 7677
If weakness is to return, it should be around 7657 7663
Strength gets confirmed above 7663 OR 7677
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