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...
48 comments:
illango sir i had buy nifty at 6267 can i hold.
bought 6300 calls 4 lots at 77 sl 70 target 180
@ALL
Excellent prashant 6300 call window is looking strong
1.00PM TT & Charts uploaded.
we might see nifty breaking the low again
power trade in 1.00 TT nifty is close below low ema . can i
hold my long
illango sir can i hold my nifty long made at 6267
@soha
NF is oversold and positive divergence seen .
So bounce may be there till 6315 where again shorting can be done
thanks power trade
sir
middle point 6075/6100?
@soha
if 6315 also crossed with volumes in NF the 634o is the resistance level
@ Soha,
Intraday resistances @ 6270-6280 and DHEma is @ 6283.
Strength only above these.
Hourly TA points down.
Daily TA , still up, on the verge of turning down in OB area.
Bank Nifty confirmed a reversal yesterday.
"Break of 6290"(Pivot) indicated a sell for the day...after the initial ORB buy but got resisted closer to 6315(NF6335 had highest vol. selling on mahurat trading - Courtesy:Mynac).
Keep a SL of 6250 and see how the price unfolds...
sir,
the point of invaliadtion of bearish count still
remains 6325 ns or has changed
1pm orb 6255-6263
dear ilango sir
pls explain the procedure of downloading hourly data in excel sheet
@deemis
for nifty spot u can get the hourly data in sir's xl
file only on top right of blog
exited calls at 78, bouhgt 6300 puts again at 97, target 200
Hi Prashant,
That is very aggressive target.
@shr. He is an aggressive trader too. And a very good one :)
@shr
Prashant is well known for his trades as he never marries to a trade ...
@ Piyush,
"6320" being the 80% retracement of this fall may be kept as invalidation now.
Breaking day's low again would give another confirmation of downmove.
US Dollar Index forming double top @77.46 on 5 Min charts
Will it be am Omen to bulls if Double top scenarios plays out?
Sirs conservative positional long taken at 5988, is it still on hold? Can someone pls explain?
6500 CE OI change in OI is 1050 only.
Anyone observed this??
means no call writing happening in Intra day can this lead to a rally above 6300
@bramesh
See the window of 6300 call are they fake or real ????
@ bramesh - in layman language please..how mkt will react
Yes, yes Prashant is great trader. but I was still amazed. That means we will be in the 6100-6150 range.
@Cooldent
in pre market view, master mentioned
Book out at 5315-5350 and SELL (as reverse strategy for conservative trade)
So short now? thanks RAvi
thanks sir
@Sujatha As per my understanding no call writing happening on 6500 CE and it can lead to a rally
Another Interesting thing is Shedding of OI in 6600 and 6700 PE
@PT looks like fake as to me and to support my view 6250 is not breaking also
Lets see How market reacts in remaining session
@bramesh
Thanks alot
Looks like NS is in the making of a fast rise setup today
just my observation...
as long as 6300 put doesnt unwind, lesser chance of breaking 6240, also 6200 PCR is at 1.51, a jerk can come on downside, to shake some weak longs, and then 2:40 can play out...
@anil
shud it not be the other way round. the 6300 put writers
are happily eating premiums. till the market doesnt
fall they will keep
doing what gives money - eat premiums.
welspun guj above 270 target 350
in week stoploss 245
@ Bramesh - thanks for your views.
@ PT - i am still holding my level "6400" and some intuition this 6284/90 levels will not give up easily..
This positive move is final just to take out all weak bears.
Welcome PT
6500 CE is now shedding OI guys something is cooking up and as per me we can see a 6300 today
BN 2 PM show has started ... Up 80 points in a flash
@sujatha
Very true and that'ss the reason i have hedged my shorts with 6400 calls
awesome move :)
once NF breaks 6340, then its gonna spike again...
Ilango sir,sud we reverse our shorts to longs @ 6320 or only exit shorts?
Thanks
This upmove, if gets terminated here, may be a retesting of the broken channel from below. (Bears like me would be interested) :)
NEW POST DONE.
6500 CE buying emerging 6400 CE sheds OI call writer covering up
6300 deciding level now
BN almost 100 points in 15 minutes ! awesome move, must be SBI recovering.
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