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...
77 comments:
good OI buildup(buying) in 5800 call.......probably, we might see good bounce later in the day !
Nifty will reverse when all weak bulls, including retail loose hope of recovery. Thats the only point when we see next trend.
"5873 & 5907" are to be considered as important resistance points.
There are two views currently:
A:Bounce for the steep fall from 6181 to 5698 is done in two days and the next phase of down move has started which may pause around 5665-5685 and stay sideways before resuming downtrend..deep cut.
B."5 sub waves" of the fall gets completed with today's low and a rally for 3-5 days may emerge to be followed by a revisit to the lows or lower.
The above two are bearish scenarios.
For the Bulls: Either today's low or 200sma @ 5595-5610 should hold and FIIs should follow it up with good amount of buying. And VIX staying below 23.5-23.75.
5800 calls are being written.
thanxs sir
@ka,
"good OI buildup(buying) in 5800 call.......probably, we might see good bounce later in the day !"
How to distinguish call buying from call writing?
With price behaviour.for every buying there will be a selling.
sir and all blogmates
good wishes for pongal and makar sankranthi
@ Chivukula Krishnamohan,
I look at it in a simple way: If 5800 CE prices are coming down and it's OI is increasing, it means the sellers are dominating and hence "Being written". Similarly if the CE prices are rising and OI is diminishing, it means "Writer's covering or buying".
Option markets are used in a major way by funds/instituitions to hedge their portfolios and hence it is widely considered as "Writers dominated market". However, if a retailer does his homework well, he/she can beat them fair and square.
GM everybody,
Wishing you all a very happy Pongal Festival & Makar Sankranti.
Gm sir.
<<5706 - 5725>> - a short term trading opportunity.
Hello ilango sir,
your real follwer me ilankaalai sir,
Happy pongal sir,....
sir , i am new to maket sir , but i am very active in subject
now i would like to trade in nifty only, on my search i got you
sir, i am following just nifty blog for past 2 month a lot of guidence
for all blogmates , but i am only watching all of you, initially
i like to know what is tech table, how to use it for trading,
i find it is use ful for mechnical or trend following table, am right sir
can you explain it sir?
ilan(go)kaalai(bull)
explain tech TABLE SIR
From screen & present Data it is clearly visible that today Bears have sold huge quantity,NF slightly in hurry,at lower rates i.e. 5728,5709,5707 in anticipation of fast fall below 5700.But strong buying there restrict the fall.At least up to this moment so now from here onwards,the real tussle is there.Let us see.
Dear Sir & All Blogmates;
Wishing you all Happy Pongal & Makar Sankranti!
Regards,
Sujeet
And good addition of 14 lac O.I. in NF.So interesting day ahead.
Good morning sir and all :) Nice picture sir.
Happy Pongal and Makara Sankranthi to one and all.
Bhavan/manu - Missing you. counting INR???
RG = yeah remember that day, nobody is blessing our "dear Nifty" so நிப்டி பல்லாண்டு வாழ என் வாழ்த்துக்கள். தை பிறந்தால் வழி பிறக்கும் / நிப்டிக்கு வழி பிறக்குமா- வலி பிறக்குமா? the whole market sentiment is -ve = that is the only hope for bulls?? ஜல்லிக்கட்டு காளை என்ன செய்யுதுன்னு பார்க்கலாம்.
Crore - yeah..5690 breakes ?? aha bear dance will start, but will it?? let us see.. Sir is excellently giving downside targets :)
Mynac - hi gm :) still some "ray" hopes(based on my own system) got it down for a bounce
@ ilan kaalai,
Read: "Always start trading with these" -8 subjects
For tech table reading:
http://tradeinniftyonly.blogspot.com/2009/12/nifty-techanalysis-file-explained-1.html
For JNSAR trading:
http://tradeinniftyonly.blogspot.com/search/label/JNSAR
Hello ilango sir,
Happy pongal sir,....
can you explain tech table and pivot table sir?
i could not understand this sir,
ilan(go)kaalai(bull)
sorry CK....was engaged in some other thing in office....did not get the chance to see the page...
there you have....master has given a beautiful brief....thanks sir...
today, 5800 CE has seen rapid rise in IV, rapid rise in OI along with prices from today's low....
thank you i try and if any doubt sir, honey kisses like child to you sir
Young Bull (Ilan Kaalai) :
Always Start Trading with these
1. Trending or Sideways.?
2. Pivot, support & Resistance
3. ORB
4. Divergences + / -
5. Trade time cycle-Min/Hr/Day
6. SAR signals.
7. Trading Discipline
8. Tech. Table Reading.
======================= 8 is for you. But read every word under other heads also.
Dear All..
Wish you all Happy Pongal and Makara Sankranthi..
Ramesh - SIL
g
thank you i try and if any doubt i come again sir, honey kisses like child to you sir
ANNATTU CK GARU....MEEDHI TELUGU ?! YEVURU ?! KONASEEMA KANI ANDHRA KANI ANIPISTHUVUNDHI MEE PPERU CHUSTHEY !
Happy Pongal and Makara Sankranthi!!!!!!
Market not so happy.... visit to 5500 in this month is of high probability.
GM Dear Sir and all blogmates
Wish you all Happy Pongal and Makara Sankranthi..
Prachi
@ ka - garu, meeru enntiki telegu matladathunnaru?
manavadu, manavadu??? hehe :) meeru peeru kanpadalethu lekapothe neenu septhanu, meru evaru?? :D sorry... just OOT
mynac - booked out 30 pnts + 1 call :) scalping :P
Daer Sujatha,
Congrats.Good trade between bearish atmosphere.
Ilango,
Thanks for the answer. Looks like I understood it... it may take time to internalize it.
Ka,
Avunandi. Padaharanala teluguvaadini. Vizianagaram maadi. meeru?
Sujata,
Meeru ... telugu.. !!!
Telugu, Market, Tamil, English, Hindi... How many more languages do you know?
At least first two trading Hrs.are suggesting,that Bulls have taken the "attack" seriously and would think over for counter attack.The big quantity trades at lower rates are hope for them for intra short covering in the latter hrs.but still long way to go.Still the overall atmosphere is not favorable for them.
mynac - wat u mentioned in NF is all cam long period levels. sensex too defending to protect this longer period levels. but how long s the Q? :) abv 5732/45 decesively only +ve as of 'now". just a samosa trading. still "ray hopes" for bulls from my side (temporarily). 5650/5750 very hardnut to crack???
Unable to stay above 5735NF?
I think all the demand is met by sellers.Buying is been absorbed and still selling going on...
Mahanubavula - Andhra Club form chesthunarantae nannai teamlu pettukondi.
goodmorning Raja gopal sir, thank you sir, i ask doubt you too sir
thank you sir
@Sujatha,
And today it was actual traded rates at 9.19AM,9.40Am,9.43 AM.Now Bulls may try to defend 5720 first and then 5707.Still not that kind of selling visible so the latter trading half shall be very interesting.
@ RG - haha :) CK - garu - ka - garu - manaki neeru eche lathu sir :D cheppandi
CK - nenu telegu lethu sir - tamilian
mynaccccc =- 5757/5775 fast raise as per mysystem
RG, Andhra Club... You are too much!! The whole world knows about Andhra Unity... We are about to split. :(
I would be too glad to start/join anything where you are a member :)
Sujata... I know you are Tamil. Exclamation is for knowing different languages.. Specially the second one!!
Nifty trading range for the day 5828-5690.
Break of 5690 may drag Nifty towards the 200 DMA at 5604.Option positions indicate the support at 5600 level.
Intraday Charts are overbought with immediate resistance @ 5745 and for BN 10720.
Thank you Sir for your Analysis
booked 50% profit 5750NF in intra longs
Dear Sir;
Can we sell here?
Intra NS is above 10EMA crossed Intra 100 SMA and in the verge of crossing Intra 200 EMA. I believe if crosses above 200 EMA an upside breakout possibility..
Closed remaining Sir. Thank you Sir
can shorts be created here??ns at 5741
although there has been 20% addition in 5800 call today,
5700 put still has more open interest. Only a decisive break of 5690 will
shake the confidence of the 'remaining bulls'
desabhashalandu telugu "less"a!?
the latest SMS: Noone killed Jessica..... She was long Nifty
Cheers
Good Morning Sir,
Happy Makar Sankrantri and Pongal
to You and all blog viewers.
India VIX came down from 23.48 to 22.74..
Dollar Index at 79.18.
will the above help Intra NS to move up?..
Dear Friends,
As per OI data, the range is contracting to 5700 to 5800 with huge addition in 5800CE
Thanks & Regards
Sanjay Kr Jaiswal
Above mentioned Intra 10 ema, 100 sma & 200 ema in Intra 1 min/TF. 5 min/TF has different view.
as it has held 5690 low, it may turn out to be a flat correction
i feel it will attempt to close the week above 5795, the weekly channel bottom. Sir, pls comment.
-Narasinga
Dear Sanjay,
Regarding "huge addition in 5800CE",what's your guess? would be from long side or?
Something wrong with my system. Seeing Nifty in Green letters !!!
50% rise in 5900 CE from today's bottom.
sorry, i meant the daily channel.
RG,
Will Friday 2.30 spoil the whole thing?
gap at 5752 to 5756 will be filled before any further upside move.
mynac - my 5757 done :D
CK : Funny right? How to beat a dead horse? Wish "Budget run" Fridays are back(+ve).
nice one suj
@ RG - :) :) it's better look nifty with "red colour" specs
As long as Nifty is closed below 5DEma, every rise is a selling opportunity.
Just like yday 2 white candles full reveresed by three blue candles in google 2 min chart.
@ Prachi - tks sticking with "purely technical today" not with my "ego/hopes" . :P not above this 5755 decsively nifty will back to "RG"
@ bb- we discussed nothing :P just time pass OOT and especially if "my name visible" you can blindly go to next :D that's good for you hehe:)
Dear Boarders:
An humble request, please do not use any regional langugage to communicate (including Hindi). Some of us who do not know the langugae find its frustrating as we may miss some valuable communication.
Regards
BB
Sujatha Ma'am:
Your communication is very valuable to me atleast. Actually most of the boarders are so knowledgeable that I am a keen reader even if it is silly information.
Regards
Basab
Dear BB Bhaiya!
Regional Languages se aisa behave na karo, kabhi kabhi insaan ka man apni roj wali bhasha me baat karne ka hota hai aur kuch log doosri bhasha jaante hi nahi. Aap ko jitna samajh me aa raha hai usi se santosh kar lo pls, ye meri aapse request hai.
Manoj
i have this trendline in nifty futures.. which is currently @ 5766.
nifty has been resisting it for some time now.. and 200 ema @ 5 min chart.. now support
if it crosses it .. might see 5790
Arpit
This is called "theliya vechi, theliya vechi adikarudhu"
AS we net get more juice from bulls.
The ralies are because of profit booking by bears.
Infosys leading this rally lol...
NEW POST DONE.
Mynac Sir,
Sorry for late reply, I feel as per the order book there were more sellers then buyer, so most probably its SHort.
Thanks & Regards
Sanjay Kr Jaiswal
@ crorepathi
your "thelliay.... " is good!!:-))Looking out fore the next short trade
opportunity.
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