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...
20 comments:
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Ilango said...
A 5 done from 7599 to 7691(truncated 5th @ 7676)
7656 7645 ... is 38%-50% retrace of the last rise from …… 7599 to 7691
Low made "7655" -
On a small range day - 20 points.
Similar retracement strategy worked yesterday too, another small range day.
Prabhanshu sir,
What is happening in Tata Steel ??
weekly trend reversal.....avoid shorting
ILLANGO SIR
FILTER ON NIFTY APPLY OR NOT ?
@ murli ,
Based on my inputs so far, it continues to be "UP".
A shallow retracement of 38%-50% was suggested.
Declining channel resistance came at 7675.
Thus, it makes for a "no-filter", besides getting supports from Day technicals as we have been suggesting last two days..
Weak below 7675-81.
According to pre-mkt view, now Nifty can rally anywhere
Sir sorry for net getting your comments properly. Sir JNSAR at 7675 . So whether the trade is to be reversed at 7675-20 or 30 . Please do guide.
ILLANGRO SIR
THANKS
Sir tomorrows BN JNSAR?
15061
@ vishnu,
JNSAR followers take trades based on "Price triggering the JNSAR number"
JNSAR followers, sometimes, choose to take trades based on "Price triggering the JNSAR number+30"
Once price triggers, they keep a filter of 30(earlier 20).
As you spend more time in the market place, you could anticipate and apply filter or no filter based on your exposure & experience in the market derived from sound technical studies, which are updated 5 times a day.
Some may choose to ignore other studies and follow JNSAR mechanically.
Nifty Dev DHEMA = 7685
Sir Thanks a lot for clearing my doubts. thanks once again for your guidance.
3.00PM TT & Chart Updated.
sir,
IN BN if 4th wave correction would be flat or contracting trainge for the fall from 15750-14300 which is A had a formed a 3 wave correction and the rise from 14339 -15550 is the B and the fall from 15550 - 14700 is the C which is .7 of the wave A and the rise from 14700-15280 level can be D and the fall from 15280-14850 would be the E which will end the contracting 4th wave which will be quote appropriate for the extended 5th wave, please confirm if this is a contracting or flat where the B will end at 15750 level
@ Crorepathi ,
It does not look like a CT.
It is a flat correction, possibly with abc-x-abc. We'll know soon enough. The ST direction is UP.
Thanks alot Sir.
A pause here at R4-7734.
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