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 ... -
After having spent more than an hour @ 4826-4855, NF breaks out with volume (5-minute time cycle).. The spike failed as it fell below 4833.(...
33 comments:
I hope 2morow we'll have a gap up and i cud exit some of my calls!
Hai everyone
Nifty hour chart yesterday showed the possibility of a good trade.
confirmed today morning with the trend line break.
http://niftychartsandpatterns.blogspot.com/2010/05/nifty-hourly-chart-near-resistance-and.html
thank you
sir,
thanku very much for your guidance. i m doing trading as per your view. sir i m not able to understand tech and pivot table / hrly close etc. pls give me some guidance to understand this. thanku
FII sell 1383cr
DII buy 56 cr
Thank you San. I posted my comment in the blog and as expected the word verification was "trashe" - have you programmed it to my name?
@raja sir
i have replied to your comment in the same post.
I started replying to your comment without logging in
to google. So it asked me for a verification as well.And my word verification was "DUSTBIN" some similarity there.
thank you
ha ha ha San. That's one on me.
Sabji - mailed.
My comments on NIFTY would be useless here since I am not an expert on day trading... So let me start with Gold and silver.... For people who are looking to trade those... Coming Tusday is is expiry in US markets for Gold and Silver and maximum OI is on 1150 level for gold... Usually the trend has been beating down gold and siler two to three days before expiry to not let physical deliveries as well as profits to most of the guys.... This has been historical trend... May be Gold will go down to 1150 levels... Please use this as on observation... Risk is urs....
For latest going on the global headwinds that we face one can go thru my last comment in last post from Illango....
I would sincerly advise everyone here to have physical gold in there portfolio.... if your risk appetite is more you can go for silver.... cause when the Monetary system of the world changes.... ie new reserve currency, it will be tied to the hip by gold.... this i can say confidently... betting my life....
Hi .. Arun Kumar Sharma,
There is a section under "Labels" called "Technical Analysis". Please go through these simple write ups. You may skip Elliott wave parts I to IV if you find it complex and may come back to it at leisure.
There are small write ups on TA, How to read the tech. table, etc.
Also go through the 8 steps listed under the title "Always start trading with these" at the top side bar of my blog. These should equip you to plan & execute your trades.
Wishing you all the best. Prepare before you face the market.
Hi Fitz - This is a golden life...why bet on it even for a few silver?
btw - I am a beginner in this part of the world. Your guidance is much appreciated. Can we read that Gold retreats to its highs post Settlement. Is it advisable to close shorts on or next to settlement day?
Please advise.
@ SAN,
You have been doing some wonderful contributions here and timely alerts too. Keep it up.
I want you to know that everyone appreciate your work.
@ fritzroyreport,
I fully agree with you on "Gold likely to be tied with reserve currency" . ... Would not be surprised to see it reaching Rs.40,000 per gram in 2 years..!!
@ Manu,
That is another big selling by FIIs.
@ RG,
Uploaded.
sir
only ETF money Of EU is moving out..not Of US..
if u check with actual figures of SEBI
then u will find a reduction in these fig. everyday
and
else Dii must hav nt been buying..
This is also imp..tell ur critic
also tell him tht i m still holding bajaj
hind frm 136 lvls
and heged with june fut at 133..still carrying..
tisco long..nifty short
@ ILANGO SIR
Thank you and great to hear it from the BOSS himself.
Bad part is that the BOSS in my office shifted me to
night shift. So i don't know how much i can contribute.
thank you
hi
can anyone let me know when to use 3/7 ema and when to use 5/13 ema?
tomm, good oppertunity to buy metals.Oversold,Oversold.
@ Sir,
QUOTE : I fully agree with you on "Gold likely to be tied with reserve currency" . ... Would not be surprised to see it reaching Rs.40,000 per gram in 2 years..!!
Thanks a ton for the alert... as I am always buying a small,small (i.e. coins) qty,(and changing my old ornaments @ this new rate - RG sir I am dealing with GRT, shall i go ahead) really it may touch this level? Then it's very difficult for the INDIAN MIDDLE CLASS FAMILY. And request you all to kindly guide US when is the RIGHT TIME FOR SELL (hope not nearby years)
This will be really 100% helpful for this middle clas woman.
Thanks in advance to you all.
Regards
@ILLANGO,
NF HAS BEEN MOVING CHANNEL SINCE LAST FEW MONTHS, LOWER TREND LINE OF CHANNEL FOR THIS WEEK COMES AROUND 4810.NF CAN MAKE A PAUSE AROUND THESE LEVELS. BREAK AND CLOSE BELOW THESE LEVELS CAN CREATE HAVOC IN MARKETS.
Dear Ilango sir!
You r doing a wonderful job here,so many people r learning a lot here. I always felt that u r a very genuine & down to earth person. God bless u & ur family...
Hi Ilango sir, Myself Nilesh Patil. I read your always start
trading with these. it is very useful. i want to know
about Elliott Wave Signals.
Hi,
Please read article from Business Line where it says gold coins bought from Banks cannot be sold back to the banks.
http://www.thehindubusinessline.com/2010/05/15/stories/2010051553960100.htm
Check with your jeweller if he will buy the coins from you and at what premium.
hi sujatha
on a friendly note,
Not about the timing but about the mode of holding.
If one buys ETF Gold, one can sell it to buy real Gold when needed. By that way liquidity, safety, & nondepreciation while selling may be there .... :)
I could be wrong too ...
with regards
Hi RajGopal Ji - Would recommend buying Gold around next Tuesday. Thats the expiry day and historically Gold has been pounded around expiry.... I would request you to be long in it and make money.... Not short it - too risky... Pls go thru my post in Illango's last post.... It is lenghty but would indicate whats there for Gold...
Illango - yes I agree.... There has never been in modern history a time when all the western nations are banckrupt and money printing has gone wild.... Where Gold would Go... Its a mania that has to super sede every other mania experts might have seen in their lives....
To the guys who want to buy Gold - I knw abt the international ETF's Like GLD - they dont promise that they would Hold Gold for you... they only promise that ETF price would track Gold.... I would recommend every one not to but ETF's but physical Gold....
@ GB
Great show, dooms day happened to be late by one day
@ Illango sir,
Its a very pleasure moment for me on your advices & comments I had made many trades,,,,,,
BELIVE ME ITS OF ONE OF THE BEST....
THANKS TO BOTH OF YOU & RG U R GR8
Rajgopal jee, Illango and Manu - incase you and other guys would want to catch Gold by Tuesday - it might come around $1150 levels.... It would be very good buying opportunity....
Was Going thru Richard Russell's yesterdays note to his suscribers ---- He was literally pleading his suscribers to get out of US equities.... May be he sees something some of us cant.... Just for Info...
HI
We may not be seeing 5000 levels again in this series if the option open interest dynamics and volume profile hold good as they indicate today.
RV gud for the James Chanos of this world...
On weekly Ichimoku it is still not a sell on Nifty.
Just a "balancing" view.
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