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...
23 comments:
@ gs,
The oversold Hour TA found support at Pre-Market's support zone of "7792 - 7812"(Low made 7796) and it is moving into resistance zone of "7880-95".
While doing so, let us also remember Pre-market's comments:
ST strength returns above Wk.pivot(7883) initially & then above the critical MT average 50dsma(7913).
PCR now above 1.04
If one wants to use PCR in ones trade plan, better to trade by combining master's S&R levels with PCR.
bulls knocked out bears.....rumours of bjp getting majority in maharastra...per uncomfirmed or satta surveys...market happy
Day Low : 7796.00 Day High : 7895.25 Range : 99 Points Day Pivot : 7877 Hr. Pivot : 7866
NS more than a Century below OK ( Octa Kilo = 8000).
Currently hovering around 7889.
NS above Day Pivot @ 7877 & Hr. Pivot @ 7866 indicating bull grip.
NS in BAH mode in Hr. T/F & BOD in Day T/F.
Mild weakness returns below Hr. Ema @ 7854.
BAH= Buy And Hold
BOD = Buy On Dips
Conclusion ; Nifty not like to change trend with started odd 6000 level .. Anyhow bulls back & save ..
thanks master...will wait for clarity to emerge..
7898 DEMA,,, & 1 hr to go
Sir ..
7923 to 7706.. retrace come 7896 ..78.6%..
will this imp.. ?
Ilango sir or anybody else please tell me what are the wave degrees we use here at JN.
Sir, can we reverse to longs. seems good support already formed and likely to hit JNSAR
Followers of JNSAR :
Day Low : 7796.00 Day High : 7896.65 Day Range : 100 points
NS trading nearly Half a Century below TODAY'S JNSAR @ 7927.
Quarter Century above Hr. JNSAR @ 7847.
Continue SHORTS INITIATED on 10th Oct below 7924 with comfortable trailing SL.
NS just above Day's pivot @ 7877.
NS currently hovering around 7882.
Note :
Strict SL is a must for all trades whether Short or Long.
@ brijsolution,
Any corrections for the current upmove from 7796..would be ST buying opportunities considering "only the Day & Hour TA" which are turning up from "oversold zone".
Always have a small SL for any positions initiated at such "unconfirmed reversals". Only EOD would suggest a reversal; even then, the follow up is reqd. However, considering +ve div & oversold conditions, chances of a reversal seem likely.
Sir..
Thanks..
If master permits, let's have a poll if the market will close above tomorrow's JNSAR or below it...
G.Afty Master & JN Family,
How bout seeing suspect C.5 in play down from 8131 NS as an ED ?
Pt "d" may form near 8035-45 NS... 34DEMA is also there
Any close, clear & above this level, will make Bullish Impulse from 7796 as H-prob
Friends, is Wednesday 15-10-14 a trading holiday due to Maharashtra elections? No announcement sofar in NSE website.
Badri.. no holiday.. mkt continue..
Badri,, Just recd msg.. mkt holiday on 15th Oct..
@master
it there positive divergence in 9day rsi also?
close above 5dsma 7883 will confirm it?
thanks.
Followers of JNSAR :
Day Low : 7796.00 Day High : 7901.15 Day Range : 105 points
NS trading nearly Half a Century below TODAY'S JNSAR @ 7927.
Quarter Century above Hr. JNSAR @ 7847.
Continue SHORTS INITIATED on 10th Oct below 7924 with comfortable trailing SL.
NS just above Day's pivot @ 7877.
NS currently hovering around 7882.
Note :
Strict SL is a must for all trades whether Short or Long.
Day Low : 7796.00 Day High : 7901.15 Range : 105 Points Day Pivot : 7877 Hr. Pivot : 7890
NS more than a Century below OK ( Octa Kilo = 8000).
Currently hovering around 7880.
NS above Day Pivot @ 7877 & below Hr. Pivot @ 7890.
NS in BAH mode in Hr. T/F & BOD in Day T/F.
Mild weakness returns below Hr. Ema @ 7868.
BAH= Buy And Hold
BOD = Buy On Dips
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