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...
64 comments:
Thank you Sir
@Anuj,
Thank you.
Tata Motors changed direction and flying.
Ilango Sir,
I am Intra long @ 5733. where can I book profit Sir
prabhakar now book your long
& short it
ilango sir weekly TA at middle of down so down will resume
@ Prabhakar,
Above 5730, the next 5745 is done. Next 5760-Day's pivot. If trades above it, then cloxser to 5800.
"5735" should hold.(Raise the support mildly as time goes by.
Reposting - excuse me sir -
different type of market, different type of tading, different type of understanding :)
"your attitude helps, your aptitudes take you to high altitude"
hehe - i am reading one book brhgt frm library
just posting for "OOT" as all r in good trading mood
January 12, 2011 12:13 PM
@ Bee,
Those are good moves.
Thank you Sir,
Booked 50% 5746NF and holding balance with SL 5710NS
100 points fall in BN in 10 minutes?
@hitendra
The Reason is CBI Raids SBI Head Office Yet to confirm
0h pulesssssssss not another scam
One more nail in coffee?
Right Hitendra,
I just reversed the BNF from Sell to Neutral based on Ilango's intra-day strength above 5730. Right after I had covered my BNF Short @ 10877, my computer stalled. I was watching TV to see Nifty go past 5845, while I restarted my computer. As I was logging back into my PC, I saw Nifty coming down on TV. After I had logged back in and checked the price quote for BNF, it was 10790. Exasperated with my bad luck, I simply reversed the trade and cooly lost 2K. Tough luck.
Sir,
5690/5721/5698 (recent) r v in "tripple bottom" if the correction stops here will you take it as it;s a correction for "previous uptrend" or v may expect more fall??
4th attempts are generally successful.
We may see an upmove limited to 5870-90
@manojag 4th attempts of what?
triple bottom.
piyush
I read that as 4rth attempt will break 5690 and head much lower.
to break the bottom.
successful in breaking the bottom or reversing
ok thanks. manojag
Breaking news: Raids by CBI on many PSU banks in
connection with 2G Scam
In options, today one thing is going on ..puts are getting written in jan as well feb series..in 5500-5800 levels..
so one can expect some consolidation in this range 5700-5850/5900 in coming days..b4 decisive move.
Ilango sir this is 2nd wave going on from 6180. and b of 2nd going on.
m i correct, that means one upmove still left to start swift 3rd wave??
@ Sujatha,
Reading these intra charts should be done with the weekly/Daily charts at the back of our mind.
Weekly charts look quite bearish.
I would not mind missing some long trades unless played with "Very strict SL".
Many divergences would fail or fetch smaller gains compared to sell on rises.
I have experienced so many times this "falling into intra long trades & converting them to positional while market keeps going down".
Bounces are only bounces to be converted into shorts till you are stopped out till the trend is in force.
thank you sir - that's a doubt..manoj also gave reply. unforgettable "weekly engulfing" - in nov too.. so carefully playing.
But "itching" continues that too unstoppable "unless this 5690 issue solves" i don't to "put" reason now becoz don't want 2 confuse anybody "i am capable of reverse my trade fast" ofcourse that "guts" learnt from you sir..- pranams.
Hi dear sir Ilango,
plz put chart from 5698 low in wave form
alpesh
I have often seen Indexes (be it Dow/Nifty/Bank Nifty) hover around a 10-20 band with a major support (much like this 5690-5700) near by. In such instances, who is responsible for keeping the Index within such a narrow band, when it is quite obvious that it should be the Bears who should cover the Shorts and be buying with a strict SL, while the Bulls hope in all earnest that the crucial support does not get broken.
Oops, I meant to say, Nifty hovers around a narrow 10-20 point band...
sir...correct me if am wrong here...
i did observe in many instances that, to capture contra trades to the trend if we follow trenlines in hour rsi...we good get results. Plz guide.
regards
@ bizagra,
Your observation is good.
@ Sujatha,
I am only cautioning about the long trades and not advising against them. Your observations will always stand you in good stead.
@ alpesh,
5741 to 5843 is 2.a
5843 - 5698 - 5814 - 5710 is 2.b
5710 - currently the 2.c is on.
Labelling the minor waves are challenging. Read them with TT & TA.
@ ka - i am following "Price and price only" behaviour :) nengu palliya enu bekkathilla nifty oota madilike + water need (mean timing)
Sir - thanks for your caution + ur tech table alerting me. i simplified my homework + mingling with your indicators/TT. Once you said to me "apart from technical, if you know or observe something then take action with appropriate SL" yes i am observing/smelling something with your indicators/TT. know how and when it will react
Booked my remaining long @5760NF. Thank you Sir
Oh...the power of "c" waves ..both up & down.
"C's are as good as 3rd waves.
Sirrrrrrrrrrrr -
what a nifty timing and my timing sir?? always following master :) partial booked out balance haha will not say when i will be out or hold.. hats of to you sir :) :) manasega namaskaram 2 you
@ Sujatha,
"Celebrate" with a box of chocolates with your family.. :)
There is more coming..
good after noon...as 5690 is protected, i think nifty may go upto 5870, 5925..
Sir,
Whats the target of this c wave???
Hi dear sir Ilango ,
what shold be aproox tgt for this 'c' ?
Alpesh
In the day chart, new low averted as of now but previous day's high(5843) "yet" to be scaled..
Ilango Sir,
I am long @5778NF.I am also waiting for reply to 'dare'.
What a move....
5820-5845 is the major resistance zone.
Minor waves could be relabelled as only "i,ii,iii" done & "iv"th is on.
That is an alternate view.
I know one thing that the fast it falls the fast is bounces and vice-a- versa....
Today also seen same trailor as yesterday..
sir how do u make out that 5741 was end of 5th and not
5698.
@ PS,
I'll update the two labelling at 2.00PM.
Sir - One Big Sweet Box to you first. my D is at home only she already had :) today my target almost done so out from my intras partially. in coming 2 days if nifty manages to close little higher means we can little take out the "venom" of last week engulfing?? just a guess. no need to post reply. time is precious for you. my profit is homework + your "lead indicators" observation effect sir :D
An alternate bullish count on the LT charts from May 2010 till Oct/Nov high 2010: A of terminal (terminal since it is looking more of a three than five). The B will be completing here or around 5600
Behavioural logic for the count : No retail participation at the Nov or Jan highs ; No euphoria; No talk of decoupling India
Cheers
Just wanted to share a strategy that i developed over
the week with members
Here's what it looks like - please comment
http://img189.imageshack.us/img189/7264/jindalsaw.jpg
Can we got 5880 NF? (too much greedy ness)
Looks like nifty pulled up sir!
Repaeat of ydays show i do know how many lost in shorts and pants.
Thank you Sir for your Analysis. Booked profit @5847NF.
Sir can we re sell here or wait for higher levels?
NEW POST DONE.
Illango sir, i see the resistence at 5850 also,
but do not see the correct solid support. Cud u
kindly oblige
Regards- Deepak
NEXT RESISTANCE 5890 NSE SPOT
nifty pcr shifted from .76 to .85 current
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