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 ... -
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Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor...
41 comments:
Ilangoji,
The rising wedge breaks below 5399. Can we go total short if NS comes below that?
can anyone pl. tell me what are the European indices? usually, i chk. them on moneycontrol.com but the site seems to be down at the moment - any alternative site to see the indices?
Sir,
I think we just touched the top of wave 1 at 5409...
which implies that wave 5 if at all wud be weak .. ora 5th failure...
Is my understanding correct Sir?
@Janak,
Finance.yahoo.com
@Janak:
Try this LIVE link.. someone in the group gave me few months back
http://www.igmarkets.co.uk/pricestream/outside/getMarketList?webSiteId=igm&businessArea=F&locale=en_GB&firstTime=true
SIL
http://finance.yahoo.com/intlindices?e=asia
@ Janak Bloomberg.com
Us and European futures are mostly flat
Nothin much europe is flat
@ sir
Is there any change in day trend or weekly trend, as 5408 is protected but below 5420. Also 5500 Puts are unwinding while 5400 calls are adding OI.
@janak
http://www.cfdspros.com/indices/world-indices
thnx fire,SUCHLSLIFE,NEHA...
can we spot a Zig Zag or falling wedge in this C wave, also makts have not broken 5408.85. high of possible wave 1
sir plz guide
thnx prabakar.
i believe that tomorrow we might just have a gap down opening as US might go down today....but i might be wrong...
I believe Sir has asked ppl to go short.... but only 1/3 rd of what they wud... n see if the move is resisted at 5435 or not... if it is... or if we close below 5418... then we r more sure of being short.
@ stocktipsatobeya
The first wave has not been breached but the price action is bearish with deteriorating breadth.
Now to see whether it will close below 5418.
Close below 5448 - at this juncture suggests weakening momentum.
In sum: Cautiously bearish.
sir what to do below 5422 is short or buy here with sl 5422? pls tell
thankyou sir!!
SBIN fell Rs. 100 today.
5500 puts unwinding...SEE to believe it. It's On from orning NON-stop.
@ dungar,
Prices have shown weakness throughout the day as reflected in the Tech.Table
posted above.
Now the intra weakness is spilling over to daily TA by
a close below 5448 and a likely close below 5418.
Hence a selling was advised.
@Elango sir
Shall I short Aug Nifty 5426 and buy 5300 call @ 122.
sir nifty stbt is correct or not?
holding 5500 put bought @83
Adding one more @ 86.10
@ Sryadmurali , Dungar,
I am simply reading aloud what the market is conveying as strength/ weakness.
I do not wish to comment on individual positions.
Don't you think I have expressed myself quite clearly?
sir, shorted nifty @5418. correct trade or not pls suggest
Again huge Turnover Today 1,12,000 Cr.
yes sir u expressed quite clearly. thanks sir
@ Dungarchand
I request you to not to use pratimaji against your name sign.
Jai Jinendra
Ilangoji,
Are you angry with me for any reason ? Didn't get any reply to any of my queries or comments today. So i was wondering. If I have offended you in any way unknowingly, please forgive me.
@ mynac
turnover will good due to expiry.
Almost 35 lac roll over in next series NF when market closed at it's lowest end.
Huge turnover n a down day.... also adds to bearishness
INTERESTING
Dear wealth creator,
But the closing point is not encouraging for Bulls who are expecting 5500 +.But this is market so unexpected is always here always,who knows? I was watching 5420 because this was the turning point for this latest up move beyond 5400 where 1200000 1 minute volume was recorded at 5422 on that day when it zoomed up.
closing 5418.6 and 5dema 5418.48.
interesting day ahead.
slightly different perspective,
hour now o/s and is resting at 40 day old channel
bullish hidden div in hour . if price maintains we
can also have a bump up, may or may not reach the high
is another question
Hi Ilango,
I think we can rule out the minor '5' of 3 scenario. Which means
possible scenariois -
1. 5th is pending
2. Based on the structure (overlap between wave ii
and iv), this might be an elongated zigzag.
So the last upmove might still be pending. We are right at the trendline
support and since close is between the HEMA and LEMA, might not be enough
for the bears to get a gap down tomorrow to break it.
Dear Mr.GG,
Even why I am also still cautious because This series O.I. has started to shedding off from Friday and the next series roll over is on lighter side,as well as those (obviously here now FII) who have lifted market beyond 5400 in spite of continuous selling are not small players so would like to see the further developments in coming days.Profit booking is the main concern so intra play has become slightly tough.
Bye Dear Ilango and everybody.Thanks.
hi Mynac - yeah. I am also trading light and have no position
right now.
If this up move has completed, then the bears are going to come
back with all force. We might see Jan '08 all over again, ie,
we make a big down move while the global markets kind of make the
bottom on their current downmove.
Finally the 'puli' might be at the door :).
Thanks Ilango!!!!!
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