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 ... -
I 'll always be there for you. To make you feel that you're secured. And even if the rain is pouring hard and the sky is almost dark... -
Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor...
56 comments:
@ sir
Any view on RIL, very calm today again , but lots of Oi built up in call options.
Bhavan said...
@RG polaris has tanked but one can buy for a decent gain once it touches intraday low around 203 as there was a heavy ?informed buying yesterday.Also NHAI coming out with many tenders next month and IVRCL a big infra player also RELCAP watch geared to cross 825
and yes I believe market will cross 5400 today
Good Morning Sir & friends !!
Yesterday some1 pointed out break out in educomp....fired today :)
thnx all for ur explanation for PUT/CALL - although i won't say i understood everything :-) but it was useful....somehow, i am not able to understand options at all :-(
@ Wealth creator,
RIL should reverse from today most likely. Crossing 1065 & 1070 is the first requirement.
BUY.
hi illongo sir
today nifty fut short ? what level?
thanks
GM Sir and frnds...
sir, NS consitently failing to stay above HHema and get past pivot, also NF's efforts to rub off POC ? How to see this ? can we still have 20 pnt rise ?
regards
Sir,
Can we re-enter long ( Yesterday we part booked) NS@5355
Vijay please check spelling of Masters Name
Dinesh Rishi
i am sorry sir
in hurry i mistype
plz ingnore
@ Ka,
Today's Open & Low are the same @ 5367. Expecting a move up from here.(Intraday)
@ Babu,
Big Profits have been done. Small intra longs either @ 5375 or 5355 may be done. All spot levels.
Ilango sir
i am sorry of mistype of u r name
plz ignore speling mistake
what is u r view on nifty futuer now? LONG or SHORT
THANKS
@ all
NIFTY will bless This BLOG By showing NEW HIGH
on ANNIVERSARY
ALL THE BEST
kk
anyone here has put his/her money on WIPRO future? i am betting on it :-) shd. shoot up 10-15 rs.....
gm sir and friends,
rg sir, in daily r power has broken uptrendline but supports are
in 170 region and 162 region. it had broken inverse inhs
in daily which is bullish.in hourlu it ha broken up, risk reward wise shorting at higher levels 178 types or buying at lower levels looks better. in middle now
Gm Illango sir,
Yt should be the sl for long created @ 5370 level.
Sure sir, will not re-enter, waiting BN to cross 9900 to book profit
@ Vijay,
My views, the likely supports & resistances have been mentioned in both Premarket view, this post as well as in comments.
You need to see the intra chart and take a high probability trade.
Nifty is in a short term corrective mode < 5350/5360 to 5395/5405 zone. That is hardly a 50 point range. SO trade light. Buy closer to the lower range & book out (may be partially too) at the higher range.
Thank you sir.
Babu Sir, If ok for you, Please provide your email id or phone number. Have some doubts on Bank Nifty trading where i lose many times..Hope you will help..my email is nagarajan1660@gmail.com.
Sir...your answer to vijay....very well said !
but sir, market sees day in & day out mayhem of trades w/o able to follow the above. I think this is the most complicated of things...but when you do, you are the perfect disciple !
that is why your reign is bringing in so much of accolades !
guys, dont you agree ??
@ musti,
For intraday, the SL may be kept @ 5365.
@s
I sent mail to you.. I don't follow any TA..etc. Just follow Sir's comments.. thats it.
PS : Good Man. Thank you. My Short @ 180.20 - will hold. It is very unsteady inspite of this market, making lows.
RIl
Ilango sir as we are running 5th wave, any close below day low
ema means conservative shorts can b taken? or only below 5 day ema?
Wht is position of -ve Divergence in 14 rsi?
Thanks
@ Babu,
Will you go for conservative short in BN at 9900/9950....?
Also give send me your email Id : arpitg345@yahoo.co.in
-arpit
@ bizagra,
The negative divergences are developing. SOme good upsides above 5367(previous top of this uptrend)would create a good set up. It could be in a couple of days.
Once it closes below "Day High ema", create one part of the shorts (Say 33.33%); on a close below 5-day ema( another 33.33%)and the remaining below 5-day low ema close.
After the first signal, if Nifty moves higher than the high ema by 20 points, exit and wait for the close.
This is a plan but must get supports from FII selling. If not more hoghly bullish scenario may unfold with short term getting into only a correction. Even such a correction is worthy of trading.
This is one day I think I'll stay out of trading. I'm confused about direction.:)
@arpit
I don't know what Sir is thinking :) just felt, enough of profit @9900/9950. Will leave there after for some points and check Sir's -ve or +ve comment.. based on that i will take call. Believe me, just I act according to Sir’s comments, my view ( non technical & and Sir’s NS view) and my risk apatite. Sent you mail :)
There's a growing gap between the 5ema and the 26 ema, usually the price corrects (sideways or down) when it is this wide.
Today its 5 point step on Yahoo chart 5390, 5385, 5380
http://finance.yahoo.com/q/ta?s=%5ENSEI&t=1d&l=on&z=l&q=c&p=e5,e20,b,p&a=r14,m26-12-9,ss&c=
Its Rangebond mkt
Normally its 20 points, wait for some time it will increase to 10 than to 20
@ Babu,
Thanks. got your mail
-arpit
12 pt range for 2.5 hrs.
what is with 5375? NF is hovering around that no.
Unitech is growing stronger. Today the auto sector looks the dragger (and obviously IT).
@Manni,
Yes, Educomp fired (:))as it was well supported by volume yesterday. Also, it came out of a volatilty squeeze.
@yoda if you watch the intraday charts two very distinct hammers are created with distinct following patterns so market may oblige on the upper side but is waiting for the people to tire out. also the market trading above VAL
Ilango Sir - u were spot on RELIANCE - it has picked up and crossed 1070
@ Dinesh Rishi,
You are right about "Yahoo's 5 point scale" being a time, one should trade very light or not at all.
10 point scale is good for trading.
@ Janak,
Market is absorbing the selling at previous top of 5367.
@Janak,
I think Ilangoji was talking about 1070 cash level in Reliance, which has not been crossed yet. Waiting for that eagerly. :)
Hi Elango Sir,
You replied for shorts wrt to Day H/L/C emas. In case of LONGS, your advise please wrt Day H/L/C emas or any other parameter to be looked for longs?
Bose
IDEA has matured into SHORT candidate?
Pls check.
ok FIRE - i saw REL. FUTURES....also SBIN, ICICI are in GREEN - so market might just move up another 10-15 points before EU. opens
NO RG - it is still tricky in IDEA - i guess....
@Fire
Yes it was you...thanks....made decent profit :)
idea and bharati will now be agood buy if bharati doesnot breach 290 EOD such heavy buying two days back will not lead to an immediate selloff
@ Chandra,
For going Long when the market reaches over sold condition: Initiate 1/3rd long on a close above the day Low ema; another 1/3rd position on a close above 5-day ema and the remaining on a close above ay high ema. Also ensure prices do not break below 20points below the low ema on the first initiation of longs.
Combine these with trendline break out; macd turning up from lows; stochastics turning up from below 20 and moving above 20; market's positive close with better breadth(more advancing stocks compared to declining stocks) and so on.
@Bhavan, I think the bulls won't let it fall so much, but the bears know the market has gone up too fast. Maybe a shallow correction or a small upside, you're right.
rg sir,
bar reversal in daily, negative divergence in fmacd hourly
good short setup but stop of 72 is advisable as it is
in firm uptrend in day charts
@RG,
Idea looks like giving a Bump and Run reversal, breaking away from the down trendline from 2008 peak, with good volume. So, unless it gives a firm closing below 62, the undercurrent would remain bullish. Though it may consolidate in range of 62-71 for few days.
mostly will rise after europe opens
Hai everyone
Nifty spot hourly chart looking bearish
http://niftychartsandpatterns.blogspot.com/2010/07/nifty-spot-hour-chart-in-triangle.html
Thank you
Thank you PS and Fire. Fundamentalist target is back to 50. The telecom war is renewed and getting ugly. All depends on the results.
(I have to habbit of tracking high count F&O which when it moves by a couple of Rs can give something decent).
Ilango,
By close above/below ema's, we understand it to be hourly close or daily close?
NEW POST DONE.
@ Manojag,
Hour emas work for intraday and day ema works well for positional trades.
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