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...
17 comments:
@ S N ,
You're calculating the wrong one because your 1 at 7968 has been overlapped by 7925; hence, it is not a 5 wave structure.
What we have marked is:
7422 - 7841=1=419
7841 - 7540=2=301
7540 - 8180=3=640
8180 - 7925=4=255
7925 - xxxx =5= could be anything.
Good noon Sir and friends.
Sir, at what price red ABC may get negated and we can consider that green 5 is unfolding.
Sir - Thanks..
SN
@ Prabhanshu Raman,
As an "irregular flat" could go higher than 8200++.
Hence, this will not help.
But the "form" of "B" will be different from "5" and that is the only one which could "help"..
Wave 5 gives a target of 8395 or 8683 or 9153
8114-28 are the cluster resistance in Hour chart, a minor one.
Let us Hope Nifty and BN cross next milestone..Month pivot @ 8114 and 16204..
Regards
SN
Thank you Sir.
Now last rise shd be from 8095?
We are nearing the Std Dev.1 zone.. 8120-40-60 NS, for the Day's hi to form here @ 68% prob.
Sorry, week pivot for BN @ 16204.
Regards
SN
Heard on Zee: India's rating upgrade possibility by S&P in next 48 hours was the trigger for today's upmove.
Is it a good idea to stay long with news driven upmove?
Sounds like this will attract the flies(bulls) to fire to be burnt :)
"The Reserve Bank of India will announce the Fourth Bi-monthly Monetary Policy Review, 2014-15 on Tuesday, September 30, 2014 at 11.00 a.m."
Dow always reacts next day of fomc.
Followers of JNSAR :
Day High : 8114.85 NS trading well above TODAY'S JNSAR @ 8071.
Train left. Now consider taking LONGs with strict SL of NS @ 8041 only on retracement to 8071 areas.
Otherwise wait for next opportunity. Don't try to board a running train.
NS currently hovering around 8110.
Time for booking partial profits in Longs or follow with a comfortable TSL.
Caution : As JNSAR is just 4 Hrs. old, whipsaws are possible.
Strict SL is a must for all trades.
@Sonu,
Sell on News
good evening master...
Today's morning NIFTY OPEN -33.70 POINT DOWN @ 7940.80 and SENSEX OPEN -79.32 POINT DOWN @26551.97 at Epic research.
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