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...
71 comments:
@ Sandy,
That looked like a triangle. (Descending one). If it is so, the direction of the break out will have a target of "the height of the triangle"(which is 210).This one is a guideline.
hi sir and all friends GM TO ALL:)
yestarday ATP OF nifty future 5685.. below 5685 nifty can touch yestar day low 5632...
bought 5690 with sl 5685 ... if sl hit then reverse the trade
sir,
Whats critic's view ? still holding that view of 'new expiry low ' ? Plz clarify.
regards
thanks Ilango
so early short covering in 5700 & 500 puts is worring !
Thanks Prashant, What would be the resistance pts towards
downward low 5632?
Rajgopal i had asked people to go long with stop at 5620 when we were at 5640
Then we went to 5740 and i asked people to keep a sl at 5700 andd short below
5700 with sl at 5800 expecting 5500-5450
So im short from 5430 no good wave structure visible
@ ka,
He still feels it will end closer to the lows if not makes a new low.
Next week's price action will have more clues about last day's action.
Bears would be comfortable below 5750.A move past 5750 may trigger a quick "short covering rally of 100 or more points".
I mean im short from 5730
Dear Prashant shah bhaiya!
Aaj maine kal 5739 ki short wali Nifty 5695 me cover kar li thi morng me aur ab mai bhi Nifty buy wali gaadi me char gaya hoon, bhaiya mujhe to weekly closing tej lag rahi hai so har dip me maal lena chahiye 1 week ke view se, mera stop loss 5600 hai closing basis par aur target lagbhag 5900. 5750-60 kaatne par teji aur confirm ho jaayegi bhaiya...kya kahte ho bhaiya ji? Mujhe Suzlon aur GMR Infra bhi tej lag rahe hain.
Manoj
thank you sir.
Another good short is jindalsaw im short at 223
Ilango sir,sorry for asking again..but is a filter of ~35 points applicable for banknifty...
before we reverse to short if it were to hit the sar of 10716..
so far 10740 is the low
Good morning Ilango Sir and all
@ nevermind,
You are right about the filter. For two days after the triggering, you might give the filter.
It seems to be locked in a small trading range as updated in stockwealth blog.
Thanks sir.
Good morning all!
Manoj: I see weekly closing UP and so buying the lows for 1 week tgt 5900 sl 5600
Thanks WWI. We all remember your earlier readings and infact Manu remarked about their accuracy. Kudos and Thanks. Pls keep sharing as you like to do.
From Morning NS not able to sustain above Intra 10 EMA for more than 4 minute.
Mishra ji Namaskaar,
Thank u bhaiya ji aur aapka din mangalmay ho.
Manoj
@ PS,
Nifty had a similar triangle during Oct.08 to mar.09 in the weekly chart as an ending diagonal.
It gets negated below 5600.
@ Manoj ji, namaskaar, aapka din bhi shubh labh rahe!!
Aggressively Long here.
thank u sir,
even in ending diagonal green scenario we can label
c as a. we might fall closer to 5600 and then rise
for wave 2. hope i am reading correct.
Dear Wolf wave bhaiya!
Aapki analysis ke hum fan hain, par humne dekha hai ki short term analysis me aap kabhi kabhi confuse ho jaate hain par long aur medium term analysis me aapka koyi jawaab nahi hai. Agar Nifty tej ho jati hai to aapka kya stop loss hai bhaiya ji? Thank u bhaiya aapki shaandaar analysis ke liye.
Manoj
Good morning ilango sir, rajagopal sir and all
special morning for SAN ,
i gone through ilnago sir earlier post explaining tech table
a lot of doubt for this new student , i ask them later, since mktis running i know the risks
SAN you are using chrt nexus is it free chart of paid software
illango sir this will be my first trade intraday.
please confirm should i go long? wat is stop loss?
Sorry, i missed to mention the time frame, it is INTRA 1 MIN T/F, where NS is struggling to hold more than 5 minutes above 10 EMA.
@Ilan
Chartnexus is free software
GM Sir & Friends!
Sir, Please tell the SL for the Aggressive long call.
thanks,
GM
@Manoj;
Sharing one observation with u
6100 ke put me 400-410 ke beech me profit booking ho rahi hai 3 dinse so ABHI down side shayad possible nahi hai and maybe 25th se ya phir 27th se thoda aur niche ki taraf jaa sakts hai aapko khali aagah karne ke liye agar aap short hai to agar 6100put 450 ke upar achhi tarah se trade kare toh hi aur niche ja sakta hai
Now, NS stayed above INTRA 1 MIN T/F 10 ema, crossed 200 ema, and it stays above 5696, it may move up
@ ranipatel,
I am not giving CALLS.
Just reminding you once in a while about the premarket view as well as the updated charts here.
Look at the 11.00AM updated chart, Nifty has taken support at the 7 hour sma(Blue). It is expected to clear the resistance at 5715-20 & move higher.
If fails around 5705-5710, it may fall below 5682 and move lower..
So watch the 5705-5710 zone & then the trendline resistance @ 5715-20. Keep a SL @ 5790.
Nifty Could Rise Strongly on Jan 25 & Jan 27, A strong Wave of Short Covering exptd on jan 25, So Create Longs on Monday Closing, Chances are it Shall not test 200 day sma.
Dear Bhavan bhaiya!
Thank u vry much bhaiya ji aapke ishaare ke liye, mai to khud bhi aaj teji me hi hoon. RIL ke result se mkt me upar ki dhoom machni chahiye. Aaj maine Suzlon aur GMR Infra par bhi buy ka game khela hai.
Manoj
Yes sir I know you are not giving calls.
And thanks for the explanation.
Next NS to cross 5707 to move up.
Sir & Friends, just posting my observation as part of learning. Pl. let me know if the posting are disturbing.
Dear WW,
I am also expecting a fall of upto Rs. 8-10/-. What do you say?
Regards
Naveen
Now resisted at HHEma-5704.
Now down below intra 1 min 10 ema, if falls below 5693, i expect a fast fall.
Sir, what is SL you are keeping is it today low?
Sir & family..
gm..
ps..another scenario is 3 waves done or
will be done(truncated "c") as 5 waves up already done
and we ready for a big bull run again..
the price has all in it(sbi 3500 to 2500)
nirav shah has put very well..passionate trader
and jazz has different opnion(pretcher one)
so i m very happy with ur count:)the best of all
mixed juice
RG..hi..
wwi s really good..
when r ril results
Sir and all GM :)
Sir - is it double top around 9.27 nd 9.38 pls. confirm time permits . thanks n advance
today manu
@ Sujeet,
Nifty got resisted around 5704(HHEma) and fallen. Now if it holds above "5688", it has upsides past 5704/5715..>>
If it falls below 5688, it could stop at 5670(DLEma and move higher again or move lower to 5640-5650.
The trading range is getting narrower & narrower.
Trade for small points initially till it is stuck within this triangle.
Thnx! for the clarification Sir.
i think RIL is not helping market to fall down
Sir,
NS Daily JNSAR is 5745. I trade based on your JNSAR levels. My shorts are to be covered and fresh buy to be initiated based on JNSAR level. Its clear. What I am unclear sbout is what markup / stoploss should be put to the trade initiated as per JNSAR for next 2 days assuming NS DOES cross 5745 today? Thanks and Regards
Priya Mitro!
RIL,ONGC,SBI aur Oil marketing companies baar baar new day high bana rahi hain, mkt ka undercurrent strong hi hai so buying hi safe lagti hai intraday aur positional dono hisaab se.
Manoj
@SAN
is it real time software, i know only about icharts,please guide to get areal time free software
for nifty
I Learnt About j10.Sar from Sir Ilangos Article on Diwali Day & Initiated My first Nifty Trade on Nov 11 with 2 lots & Since then have Made Good Profits by following J10.Star, I am Really Thankfull to Sir Ilago for Doing a Great Job by educating learners, HATS OFF TO SIR, ILANGO.
@Rajagopal sir,
here in blog ilango sir mentioning a set of important indicators
like DLEMA,HHEMA,can you please explain one by one with their importance,
then only i can follow ilango sir guidance for nifty,
i am waiting for rely
sir
manu,
have never read in ew what he has written.
do valuations support a big bang bull market
of 2003-8?
@ Jhakkas,
If 5745(JNSAR) is triggered for a long trade today, it will be kept till EOD and managed only on the next day based on next day's JNSAR with a 0.% filter.
However, due to high volatility on earlier occasions, it costed the trader a 100 point loss. Hence, I have suggested to keep a 20-30 points as a SL for the day.
@Rajagopal sir,
here in blog ilango sir mentioning a set of important indicators
like DLEMA,HHEMA,can you please explain one by one with their importance,
then only i can follow ilango sir guidance for nifty,
i am waiting for reply
sir
@SAN
is it real time software, i know only about icharts,please guide to get areal time free software
for nifty
Sir,
You understood my concern EXACTLY. The 100 points loss is what i was concerned about. So I have to keep 20-30 point stoploss. Thanks and best wishes.
@ ilan Kaalai,
Nifty trading as we explain here requires "an entire understanding of classic TA methods such as
Trend following
Trendlines
Macd - trend indicator
Stochastics-Lead indicator
Moving averages - Ema & Sma
Fibonacci for trading
Divergences in trading
(All the above covered in APPLIED TECHNICAL ANALYSIS post here)
After reading all these above & understanding, go through
"Always start trading with these".
You'll then be ready to understand market moves.
Basic knowledge of Elliot waves help.(Optional)
"5715" is the Break-out point.
Wow......Suzlon aur GMR 2-2% up, majbooti se apni pari khel rahe hain...abhi aur chaal aa sakti hai inme, hourly chart par break-out aaya hai.
Manoj
ilango sir, i go through one by as you told ,thank you sir,
@SAN
is chart nexus real time software, i know only about icharts,please guide to get areal time free software
for nifty
Good morning Ilango sir and all,
Sir, NF is slowly getting into discount. Is it signifying more downsides?
Nifty kayi efforts ke baad ab HOURLY 5EMA aur shayad 5HEMA ke upar close hone ja raha hai, technically ye strong signal hoga.
Manoj
hrly Closing seems to be above 5dEMA
ps..
either u get fundamental or technical
who says rel cap was overvalued at 800 or 3000
and undervalued at 250..who brought money on 9 march 2009
..was d economy doing well at that time..just recall..
i think all s in price..if u c rbi 25th policy neutral..rally 5th starts
if aggressive then heard of "pizza base"..
When market is moving in narrow range, brokers and mantric operators will chew our money in intraday ( if we are initiate wrong trades)
manu,
billions of dollars get invested by earnings. if one is a fundamental
analyst he wud have bought oct lows. pls do not mix fumdamental
with news flow. it is earnings /cashflow and valuation
sometimes fundamental analysis throws light when
picture is confusing.
NEW POST DONE.
Again resisted at 5705-5710 zone..
Ilango,
Bank Nifty has crossed yesterday's high of 10878.80. But the BN Futures is yet to surpass yesterday's high of 10909.90.
I Sold BNF @ 10890 right now. Should I give any importance to the futures price also ctossing yesterday's high before buying it back again ?
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