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...
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Day Low : 8015.85 Day High : 8044.90 Range : 29 Points Day Pivot : 8050 Hr. Pivot : 8028
NS above OK ( Octa Kilo = 8000).
Currently hovering around 8020.
Cluster support for aggressive trades @ 8002 - 8022.
NS below Day Pivot @ 8050 displaying bearish trend.
NS in SAH mode in Hr. T/F & SAH mode in Day T/F.
Strength returns above Hr. Lema @ 8028 & Hr. Ema @ 8036.
Weakness continues below Hr. Pivot @ 8028.
SAH = Sell And Hold.
Prices have been keeping below 80% retrace of last falls since:
8059 to 8026 @ 8053;
8041 to 8025 @ 8038;
8037 to 8020 @ 8034;
And now
8034 to 8016 @ 8030........
Sir
what is the likely target of this fall from 8180 ? Thanks
SN
And now
8025 to 8004 @ 8021........
If weakness is to return, it should be around 8029 8031.....
what more spoon feeding can we expect....thank you sir
@ S N,
There were two cluaster supports in the ST - 8050-61 & 8007-22 and prices paused at 8057 and breaking the same has gone to the next and this too is being broken, leading to suggest of deeper correction.
Today's EOD close below 20 dsma would confirm the same.
OI study suggests of prices dropping below 8000 would be bought into till 7991, Week S2, considering also the OS Hour TA.
Trailing with the "last fall retrace" would allow you to capture the maximum.
Remember this:
Technicals change with everyday's prices for the ST trader.
Dear Ilango Sir & Blogmates,
OI Table Update at 1:00PM, Pivot-8070, S1-8041, S2-8019, VWAP-8041
The Level of 8100 for the day is being sealed, with CE addition of more than 15 lacs, the PE writers at 8000 holding up, with OI now above 80 lacs…
Thanks & Regards
Day Low : 7981.95 Day High : 8044.90 Range : 63 Points Day Pivot : 8050 Hr. Pivot : 8012
NS below OK ( Octa Kilo = 8000).
Currently hovering around 7988.
Cluster support 2 for aggressive trades @ 7985 broken.
Next target GAP @ 7967.
NS below Day Pivot @ 8050 displaying bearish trend.
NS in SAH mode in Hr. T/F & SAH mode in Day T/F.
Strength returns above Hr. Lema @ 8019 & Hr. Ema @ 8026.
Weakness continues below Hr. Pivot @ 8012.
SAH = Sell And Hold.
@master
fall temp stopped at 61.8% of 7862-8180 rise. 80% is 7926.
is it valid entry here OR this kind of long retracement is for labeling purpose only?
thanks.
@ anmpatel,
If you follow the latest signals from week, Day & Hour, they are all weak & down with -ve div.
Hence, hold the shorts with a trailing number and consider "longs" only when a trailing number is breached & on its retraces and for intraday only.
7993 8000 ... is 38%-50% retrace of the last fall from …… 8031 to 7969
80% is - 8019
If weakness is to return, it should be around 7993 8000
Strength gets confirmed above 8000 OR 8019
7856-7929 is the next reliable cluster support.
S3 for the day at 7955 reached.
Dear Ilango sir,
Wonderful to see you back in full flow....
New Post Done.
@master,
Looks like c-3??
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