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...
21 comments:
Ilango Sir, If I am right earlier you use to mark waves on hourly update also, but now no marking in charts. Why So ? It was helpful a lot for learners like me.
@ Sunil Minz,
In 2-min & 5 min T/f, the waves are being counted and retrace points calculated.
In the Hour chart, there are few scenarios at work which is time consuming for me to label and explain. I leave it to the EW followers to deal with it with their application of their minds.
3's and 5's fit in in the end. We choose a view, make a trade plan and follow it till it is invalidated or till a target is met or other wave formations compel us to book profits.
@ Roshan Baheti,
If I do it everyday, when will the readers learn to apply it themselves.??
There are enough comments and retracements discussed for reader to do it themselves.
I must work & live in such a way that no one should "miss my absence". If I don't do that, I would consider myself a failure and a life wasted.
7888 7885 ... is 50%-61.8% retrace of the last rise from …… 7876 to 7899
80% is - 7881
If strength to return again, it should be around 7888 7885
Weakness gets confirmed Below 7885 OR 7881
BN on track to register a new all time high daily close . Previous all time high close = 15567.4
Gs, now i see better ihns in nifty 5 mins spot. Bo above 7899 for 15 and then 38 points. Sl 7 points from bo level
sir the red down arrow in the chart does indicate a negative market from current position sir, as per previous indications negative happened. please reply
3.00PM TT & Chart Updated.
@ raman perumal ,
"Settlement/ Roll over pressures" would keep the prices sub-dued.
5 wave fall from 7920 to 7856 got retraced to 7899(7896-61.8% golden ratio)
Now 7881-DHEma, 7885-HrJNSAR, 7887-21 Hr sma are critical. the remaining hours would be a fight for these, especially 7881.
thank you sir the break out of chart showed the possibility of wave iv and entry inside channel is awaited for vth wave but the rsi down from 100 below 80 mark showed another possibility, so only asked sir
@prabhanshu
thanks .....for update. just checked now
was away for lunch
sir u mentioned weakness below 7881? can 7856-7899 not be a 5 wave as wave 1 and retrace
61.8% +-. ? how did u rule out 5 wave possiblity for 7856-7899?
looks like buying in final minutes
BN is clocking new all time highest daily close and as of 3 PM closed above all High EMA's.
EOD closing is likely to be below HHEMA.
SBI , ICICI Bank, Axis Bank closing above DHEMA while HDFC bank is below DHEMA.
Raghavendra
wt is the 3pm HHema pls
master if time permits please guide regarding hdfc bank
it looks breaking out from some consolidation/sideways move today
Gs, ihns got invalidated
3 PM BN HHEMA = 15673
@ Raghavendra...
thanks mate
prabhanshu thanks
raghavendra thaks for updating banking stocks....
Prabhanshu,
Could u please explain the invalidation of inhs. Just for learning purpose. Thanks.
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