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...
58 comments:
Only a move past "5929" would be the minor channel breakout and move higher as shown in "green arrow" for a short term top.(If not done already).
Break below 5890 would end it.
means sir can we go short on break of 5890?
@Prince agreed.
Today and tomorrow Bear day..... who will take risk in carrying position when so many scam, volatility is available.
again 4l vol nr the low this is above yesterday poc and exactly at tomorrowz JNSAR of NS
Seems like iv over with a zigzag as it was in wave a, 6k should limit v
buying here NF with a samll SL below todays low as 5900 put writing is going much
WED 2.30 Played? Please relax.
jnsar triggered
JNSAR SHORT TRIGER
@PT all fertis showing buying int. since yesterday
reliance, tatasteel,,,not showing that much weakness..to support fall..only banking having some problems ahead of policy meet...
anyone tracking above may clarify it..
No tension... Relax... Dheergh pranayam
Sir Pl. advise should we reverse our Trade or not?
what you advise here
sir ....need your words please
regards
@Sujatha, r u still long? or nifty ate ur SL?
BN 400 points down? What's the news?
@Anil RIL if closes ^1046 is good and Tisco also not weak from this upmove
sir can we go short with 2 lots here. pls advice as other factors also triggering on downside
helo guys!
lower bb comes at 5782.
closing below lbb will break 5690 ?
lets see.
@bhavan
Have to check may be this friday a holiday so on sat thy may come with deregulation
6000CALL ..... indicator of the month..... growing taller again....wah
sir, 5890 broke, next support level to go long or can we take short now?
today selling in banking stocks so tomorrow RBI meet would be a non event of crr rate cut.... only these two thing scan happen
Prosen plain lang. please this means OI inc. or dec.?
even-though JNSAR triggered sell, still its not breaking violently.....sir, is it wait till EOD to reverse...
@naresh
Deregulation in the prizes of urea i mean may happen or not
@ Prosenjit,
Unbiased reporting..
6000CE: 90.3lakhs OI
5800PE: 82.1lakhs OI
The two highest OI strikes.
FTSE & NIFTY just 10 points apart - perfect testimony to India's
multi year bull market.
Ms. sujatha's 5870 holding market, i think madam buying heavily to stem the fall
Tech Table captured the move beautifully, it was just a matter of time.
Thanks & Many prannams Sir!!!
@ Bhavan,
Banking sector is gone. one should understand this by the way the stocks are getting hammered.
If there has to be a rally then sector rotation has to happen else Nifty/sensex are doomed.
However if one looks at RIL and TISCO, one get the hint. Since 26 Nov banking has been making LHLW and these two have been making HLHH.
@prosenjit
Thanks dear One, your OI figures inspired confidence.
Kind Regards
Geet
@Prince,
Trading is like addiction.... how can you brush ur teeth without seeing world market in the morning.
Looks like have to postpone holiday by a week :)
But anybody Pl. reply that ....are we switched to conservative Short or Not...pl. nconfirm
@Vikram
The S&R for conservatives was 5860 NS. The low made so far is 5865.80. So I am guessing, that we should be holding longs.
vikram,
as in premarket conservative s&r is 5860.it is long.
jnsar triggered. it is short
@Prosen have you ever heard a trader going on a holiday ? even during Diwali our festivals we are busy with trading forget your holidays the mkt will do enough to keep you busy
@ Vikram,
Conservative trade: Could not be executed as "Selling level" didn't come and SAR @ 5860 too didn't come.
JNSAR: SOLD.
J10.SAR: SOLD.
As OI experts have shown with OI data, a broad trading range with 5800 and 6000 as extreme boundaries developing within which 5840/5860(DLEma) to 5950+ may unfold with lesser participation.
Trade...(more sensible)
Hold as per TT.
No I do go every year end or 1st week of Jan. may be I exceptional.
NF premium decreasing.. any significance? pl.
Sir sellors suddenly decreasing and buyers increasing by same nos. The vol. in Nifty is comparitively low from two days
Thanx Sir for your words.....gave me confidance to hold long
Ilango,
I am a bit confused here. If the trading range is most likely to be between 5840/60 and 5950, why is the conservative postion going Short at the low end of the range ?
Hi prosen - lolz??? :)
@ prabhakar II - I replied technically to your query below your comment. if not clear ask me will try to answer again in some other way too. Still in long. No confusion between positional and INTRA. (Check my sheet)
@ bhavan - a drunkard will find lot of reasons to drink, like in trading v can find somanyyyyyy reasons and trade :) but can't sit ideally. atleast i will make my broker rich :D a day
@ Prabhakar - sorry didn't mention - check OJN
Nifty back to 5900.
such is the power of "adamant lady"
hope it closes above it.
:)
Yes, the current open interest doesn't favor a move below
5800 but the upside also seems to be capped at 6000 as it has
even more open interest.
Another conclusion is that panic will occur (either for bulls or bears)
below 5800 and above 6000.
@ Nifty,
The conservative was to sell @ 5965-6000 OR SAR @ 5860.
as per this morning.
I just noticed it: the 2nd highest OI is in 5700PE @ 83.8 Lakhs OI.
@illango sir,
after long time, NF=NS, is it trying to say there is no heavy long or short in the market....so flat closing this month(only sellers eats all the premiums in options),is it so sir?
Banknifty 200sma at 10623 and 200ema at 10831; SBI 200sma at 2606 and 200ema at 2693; Banknifty option and SBI[2700call] should be a good pick tomorrow morning if the markets are down with stoploss below the above mentioned sma's. Wild swings due to credit policy expected should help in good trade even in options.
Ilango sir closing below Day ema, a positive for JNSAR shorts??
Thanks
Sujatha madam,
The heavens and skies that you are speaking -
are they meant for 2010 or 2011?
Bye Sir and Friends.
@Sujatha, Thanks. just checked OJN.
Bye sir and friends
Bye Sir and and ll
@Prince,
Keeping 5700Put and 5800Put intact or rather adding ~2L, Bulls have covered 9.78L of 5600Puts now @19.45.So its not premium is almost gone.
Down move still possible as Bulls are bit scared and withdrawing lower support below 5700.
Upmove... aah bears standing tall @6000 through out the month so far and market dont expect any good news too.
i think nifty sell below 5925
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