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...
101 comments:
Wishing u a day soft as silk...white as milk....sweet as honey & full of money...May all ur dreams come true.
Happy birthday 2 u
Priya Mitro!
Mai apni 6100 ki bachi puts me 89 tak sara nikal gaya hoon aur 6100 ki call ko har fall par Buy kar raha hoon. 6100 ki call ka mera target 300 isi mahine hai aur stop loss 50 rupaye hai.
Manoj
@Prashant;
I am more of a shortterm investor and trade in Nifty only that too have made a point to trade as per JNSAR and then part booking or complete booking on first resistances.Stocks yes I have my own choice of stocks in which I invest as per the current conditions I also booked out of NTPC and Tata steel AND RIL yesterday all these bought at lower levels of nifty around 5800 and i think I will miss RIL rally .Will get chance to enter Tisco again and will now look to entr in ONGC SBI/hdfc and Sterlite.These I take deliveries only kheesa ne parvade etli
if you are an investor try getting ABG Shipyard and Godrej Indusries at lower levels I expect a 25% upside in 6 mths
bhavan m pure trader in future and i like to play 10-20% up down in stock currant m enter in ongc let see and tata power short
Wishing you a Very Happy Birthday Sir!!!
1.00PM TT & Chart updated.
Taking half day "Leave" to be with the family.
Taking permission from "This family".
Have a nice day.
Once again, Thank you very much for your wishes.
Dear Illango sir BankNifty was Trading in the small range of 20 points more than an hour does that indicate any consolidation after such a steep correction of 550 points ++ >>
@ Kalyani,
Only a move above 11400 will bring minor strength.
It is trading below even the weekly Low ema.
Any counter trend trade should be done with tight SL.
Instead, wait for an intraday Overbought reading to sell with a small SL.
Dear Ilango,
Permission granted :)) all the best.
Permission granted by the extended family. Have one big bite of the cake in my name.
I want to learn the things how to trade nifty in both daytrade and positional.
please give me some guidence and routes to get good profits.
(also make some points about jnsar, what is the formula)
Wishing you a wealthy and happy New Year!
Dear Sir....Enjoy yourself and have fun
Friends... what is the next target we are waiting for???
Dear ilango sir,
We are the students of yours...........
Who we are to give permission to our Master...? It is always granted.....
-gauresh59
Shenita Rose : Welcome to the Club. Start with "Always Start with these" (below Ventura ad on the right). Just be patient and prudent. JNSAR is just a pivot point, 10EMA is the close cousin. Watch for some of the sharp brains here led by the teacher (SAN,Sujatha,Powertrade,Prashant,Bhawan,.....). All the best.
===
Hi SAN : You too cutting cake today? 100 years of health and wealth for you.
NIFTY SENSEX : 6220 by week end. (Manu I can hear you laughing).
@prashant;
try entering lt bhel crompton at some lower levels expect them to do well in context of gdp data
Rajagopal sir Thanks for answering...
so is this a good time to enter again....Thanks again
@RG;Does SAN also share the b'day.
If so explains why he has such an analytical mind ,he is missing on his blog also.
Enjoy your day sir !!
@Rose: Hey! Our sir have made an easy tutor(look to the right-top of this blog stating ' always start trading with these). My questions went unanswered too until I digested the whole blog with answers to all my queries. Am still a rookie and if u wanna join me in this study, I may help you. Anyways the numbers n terms these guys throw here are very outta reach(for first few times atleast). I have always followed those mentioned by RG sir and he himself is a spearhead here. Salute these guys for their knowledge and the passion for spreading it.
RG ji
hav a look at yesH&s breakdown n daily... not the best lookin ! but good enuf
Arpit
why is BN falling so much? Any adverse news??
Is it worth taking aggressive long on Nifty now?
@RG sir Nifty 6220 weekend are u sure of it 120+ from current levels .>>>>>
@ nifty sensex - it's better to book profit once here 6070 if u r in short . Nifty future holding 6108/6111 means upside possible again
good level sujatha.. 6069 here already =)
arpit
smokinbeast: Remember your post couple of weeks back on Yes. It recovered and dropping. Perfect H&S?
Good one.
I think world over intrest rates are been raised to save their respective economy from inflation created by toilet paper.Maybe banks are expecting more intrest hike.I am very bearish for 2011 :)
yeah arpit - if not holds,then 6010 nifty future below 6060 weak.. SPOT and FUTURE done for the day.. booked out shorts.. wearing long HAT with SL of 6050 on closing basis.
crore - u r right.. interest hike on cards @ US that's y buffet sold his DEBT related??
@ Sujatha ...Thanks but now
I have taken long as per
Rajgopal Sir's target of 6220 near weekend
jnsar hit ?
@All
Conservative and JNSAR shorts active now, i hope???
jnsar triggered or not .pls confirm..........
yes JNSAR triggered.
Happy Birthday Ilango Sir,,,,,
@Sujatha: Is this 6050 Sl of urs is in NF or NS?? I dont understand how you calculate it....can u tell me!!!!
@p.s, bizagra and varun. As per the number yes JNSAR and J10sar has hit. I am short now
OMG Sujatha !!! JNSAR + Wed 2.30 - what a deadly combination? Hope the filter saves the Longs.
what does it mean "JNSAR Triggered" Does it mean that we should be long now looking at the pivot 6151?????
me too short now @ 6098
RG - OOps. forgot ur logic ..now i hv to protect myself from longs?? personally feel sir's JNSAR will protect 6086. sir's birthday mkt will celebrate in "good mood" :)
@ antares - that's weekly cam level nifty close below this -ve.
i have taken jnsar short trade. has anyone taken
it ?
yes p.s. i believe bizagra also
Antares Shaman,
JNSAR means Just Nifty Stop and Reverse.Till now JNSAR was long and now it has hit the number from where the long is closed and short is initiated.
RG can u tell wht is this wed 2.30 factor?
thanx in advance
yes PS I hv taken
@RG and @Sujatha: what does it mean JNSAR triggered? How should one conclude by lookin at what and and whats this "cam level" i dont find any here. Am just a rookie....so these hard terms doesnt go well with me :(
The 2nd lot booking for the open long would have been closed at 6095 NF..ans shorts initiated (2 lots) from 6095 NF
@crorepathi: Thanks! but thats what i dont understand......there are too many figures for them and how do u conclude, which one to follow the hour weeek one's or the jn10sar.
@sujatha: Thanks !!
Dear all
Can anyone clarify my doubt? JNSar triggered at 6065. But supposing market closes above 6065, then also should we hold the shorts?
Regards
Yes i hav taken shorts.
@arvind yes hold the shorts...and depending on jnsar for tom decide
@Arvind. As of today no stop loss, you carry the shorts and see tomorrow as per tomorrows jnsar plus filter. But if you would prefer to, you can keep a stop loss
what is the LOW EMA as of now??? anybody please. thanks n advance
@ antares - forget about "cam" catch JNSAR read the articles in this blog you can grasp fast.
RG - nifty respecting my lovely candle "6069"??
Dear friends,
Don't call illango as master! Sir! or as god.
He is our humble beloved friend.
If you find his readings correct, then follow and make money.
He is not a person expecting any thing from you. He just want to educate people like us.
Sorry, if i have commented any thing wrong
Antares Shaman,
Dont be confused,it's for day Time frame, that's the central number around which the whole trading takes place.Hourly JNSAR for aggresive traders.Other TF are to just check the intensity of market
@arvind we reverse the position the next day.
suppose if tomorrow price goes above tomm's jnsar
we'll take longs tomm.
can we take fresh long here as per jnsar ? with sl as per filter
@ sujatha
LOW EMA is 6098
JNSAR NOT HIT I THINK JUST TOUCH AND BOUNCE BACK M LONG @ 6090
WITH SL 6065-18= 6047
Short @6175 covered @6096.... no long. Will do so after seeing tomorrow for 6030-6050.
@sujatha
considering recent low low ema - 6082
@sujatha: Ur blog O-J-N is so full of numbers as stars in the sky. No wonder I coudnt understand you and sorry for troubling you with my silly quest :-P. I would certainly enjoy the trip through ur blog with numbers and lines and educate myself. Thanks!!
@Crorepathi: Well I got it, thank you. I will try and concentrate to observe well. How do we decide what will tommorows JNSAR will be.....any tricksy or should I just follow sir's TT
@ ramesh - thank you very much.
@ prashant - u r long @ N FUTURE LEVELS???
Hello pawan where r u , post ur ema strategy
@ ps that's what i have asked 5 minutes before, can we go
long with jnsar 6086 - filter = 6060 as a sl?
MK
try to understand Tech. Table. There are ample readings given in the top of the blog.
Any way if you are long have jnsar itself as sl. and 10jnsar as trailing sl. if you cross that then have low ema as trailing sl.
as piyush said, we have to review our position next day
regards
Suja : Noted with relief. Looks like W2.30 trend change? Must remember for next two week Wed. (fingers crossed - day not ended yet).
RGGGGGGGGGG - nothing to sayyyyyyyyyy mkt singing "happy birthday song" to Sir.
Hey prosen - don't thro bomb please. expecting 6202/6311 atleast.
anil - thanks... that's a good sign for :upward" right???
Antares Shaman,
Believe me, just follow JNSAR (Following TT)blindly you will make tons of money.
If JNSAR is Petrol you(Decipline to believe and follow) are the Oxygen.With out oxgen petrol is dumb.
@MK 6086 is tomorrow's sar and not today's.
YES SUJATA M LONG IN FUTURE
JNSar of today will be around 6085 & as per JNSar rule hold today then tomorrow NS trades above 6103 (3% filter) then Exit & go for long. Any gap up cover it with on 5 minutes. I hope is correct. If wrong please correct me.
Chandra
6000 call not showing build up sign..seems mkt participants(aggressive bears)..still not coming in...although 6100 call good build up for the day.
MK... SORRY WAS DC ... M LONG WITH FILTER 6065-18 stop loss is 6147
Filter is optional..See the jnsar trades on 14th-15th-16th Dec..gave 2 opposite signals on consecutive days and ilango sir didnt apply the filter then i think....whatever one does important is discipline...sar works beautifully when in trend but is not so good when rangebound
prashant - that's a key support..SPOT close above 6089 will be add fuel on longs. but both closing below "hawala" is a slight "itching"
RG - mm.. u r proving right with your LOGIC :)
rg sir,
what happens when there is a 2.30 trend change
the market follows opposite course. how does it
effect next 2 weeks
Non Tech : If RBI rate revision is limited to 50 bps- seems built in already in BN. If it is 25bps or non interest measure BN ZOOOOOOOOOOOMMMMMMMM.... ha ha ha wishful thinking ???
thanks ps
yes sujata u rite bec hawala is 6102 but m LONG WITH SUPPORT OF JNSAR
@crorepathi: That is one unbelievable thing. It doesnt seem like but the TT turns out to be true every time. I have to believe in it. But am yet trying to get these no.s right in my head. Have already lost a 100K....just by speculating. Now I know, I would have done wonders with it. Its never too late....and with failures comes experience. Thanks buddy!! My name is Vishal btw.
for me closing above 6080 is still a game for bulls...
Disclaimer: holding part longs
Hi PS (u asking me is a great honour). This ant brain notes that whenever a 2.30 factor trend changes, the changed trend remains for the next two weeks. So today, instead of becoming more -ve(why beat a dead horse), the trend became neutral to mild +ve. I will expect same trend at 2.30 on 12th and 19th. (just thumb rule).
ok rg sir, didnt knew it. thanks.
@ RG - finally we can see upmove for 2 weeks??? my understanding is right??
@ prashant anil - thanks for the "long" company :)
yes rg i think this is related to previous (jota fatak)
@ Rajagopal sir...BN zooming up or down???
Suja : mmmmmmm.......I will not initiate fresh Shorts.
===
Bye Sir. Bye Friends.
Atlast closed below day low ema, carrying shorts.
looks like lottsa people from chennai......definitely means lotta engineers....doin the technicals
Friends any one taken long for tomorrow?
Initial impression : Bad closing.Closed below tomorrow's JNSR,when NSE cash volumes are good but FNO volumes lackluster.Nifty never bounced back during the trading hrs is the main worry.Quantitative call writing in 61 & 6200 CE
@sujatha
me long only part...although technically into sell in hourly since yesterday,but daily more time below 6080 is bearish.
observing todays cash vol and f&o vol it seems its just (insiders preparing, their) portfolios ahead of results..as we know its just same thing happens in every quarter season.
hello guys 6200 pe seeing huge(almost 10 lacs) OI build up yesterday along with reduction in price.. now if mkt falls more writer wont get profit coz he will have to pay frm his own pocket.. 2day though at EOD it was showing reduction in OI but its very marginal.. So if we assume ki writer is SMART MONEY he wont let mkt fall below 6000 , coz in that case he has to pay gud amt frm his own pocket.
It was Just an observation.. Want RG sir & Mynac's comments on same.
@ anil - thanks for your views. yes this result season may give "upside" becoz of lot of downside supports. v r with "mixed signals".
@ mynac - yeah..closing below weekly cam level too but with same like JNSAR very few points difference. JNSAR 6086 /cam 6089. ur comment is the worry for me now :P but today's JNSAR touched and protected..
@ RG - aha... ushar party sir neenga..
Sorry for missing the whole party today as was busy in a lot of things in this new year. But anyway, I could be back for this most important day ---
Happy Birthday Master!
A grateful & obedient student
Dear charu,Sujatha,
A feeling is there,that lot of longs are there in system in anticipation of up move from here.So though market drifted today,never bounced back,& closed below all daily Ema's ,tomorrow's JNSR, the fall never looked fearful & suggesting hopeful bulls mentality.But now "the very short term technicals" are disturbing the up move if there is any.Even 6151 is very tough for NF tomorrow to conquer.So if Nifty shall come down from here up to 6000 & trade around that level, in next 3-4 trading days,then the short term technicals shall probably start to become favorable for Bulls for any up move.Highest O.I. at 6000 PE is at lest suggesting support there.Any hurried up move from here tomorrow shall be good shorting opportunity with the stop loss for NF 6170.If tomorrow,Nifty shall start to slide further from here then small traders may come to liquidate their position,which could add fuel to fall.NF O.I.is just above 2 CR & Market is weakening,is cause of worry.This is only if and but because Market is supreme,& only the "Price"must be followed.Even I was also bull up to 3PM but when Nifty failed to cross tomorrow's JNSR(6086),cautious approach was there.Let us see tomorrow.
happy birthday sir wish u all the best. your party due
Very Very Happy birthday to you and thanks for your family to allow half a day on birthday.
Really great people great job to continue sir.
V.Ramesh
Vellore
@Mynac
You r aware that I have high regards for your views, but a constant feeling that I have is that such (Day like today are specially designed to create a misleading impression or to get the desired rates in the Put/call position for the trade leaders).From a very brief
observation of Hawala rates of the past year I have observed that it could be playing a significant indicator towards the monthly trend and as per that we may be headed for a new high this month as prebudget rally also would start during this mth.
Dear Bhavan Good Eve,
I am not over looking or denying "A new top" for series.Above said view is for very short term.On the contrary,if Nifty shall show some strength,then I would like to buy CE only.On the other hand,majority roll over for NF,this series is mainly between 6020 & 6100 which is discussed earlier but short term technicals are defusing the game for a while.FII after market figs. are not encouraging,good 15.40 lac writing in 6200 CE is there,only good thing is there ,no addition in NF O.I. today.So only, next 2-3 day's trading,the range & Global cues would be very crucial.Let us see.
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