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...
78 comments:
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Dear Sir:
Hrly this time it closes above the 5EMA but not daily; twice i tried to trade but all the time my SL got hit:)
How do you set your trade on the TA basis, please help?
thanks,
Sujeet
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
Dear Sanjay,Thanks.But the selling at lower levels & absorbed there is changing the game now so the either writers must be too powerful or taking a gamble here.
Because 58,59,6000 CE has given 50% plus returns here in just 70-80 points movement of NF from it's day low.
@ Sujeet,
There is a "Low ema trading method" practiced by one of our readers - Pawan jangid:
For intraday traders: Buy when Nifty moves above HLEma and book either at 5HEma or HHEma.
Similarly in Daily T/F.
Mechanical trades need to be followed in a disciplined and consistent manner.
"Intraday trading" too can be done with some methods and some of them are listed under "Always start trading with these" at the side of the blog.
Options markets not best to predict bottoms or tops..as i noticed in past also when nifty hit 4787 low on daily and never visit that level,huge put unwinding happen on that day..also call buildup was so significant that ppl projected 4400/4000 levels..
also when market break 5400 levels, so huge call build up was there,actually options figures are most misleading during the whole rally from 5400-6000 levels..so analyse in totality..i.e...how significant or wht amount of index futures getting built...
wah mynac - tody is my day?? totally this week took 4 counter trades.. 2 huge success 2 utter failure SL hits :P trailing my SL now aiming for 5815
Thanx, Sir.
One more help sir, still can we short?
@ Sujeet,
If you had followed the PreMarket levels which are always arrived at after a lot of study, you would have bought at 5695(5685/5700) and either part booked at 5780/90 or at 5815..
mynac - sustaining above 5811 consistently is a "temporary bulls " let us see, will calculate and get back
@ Sujatha,
Congrats,
It's always dangerous to take contra with out proper self study.And you have the same so only you could dare.
Bravo.
NS touched the upper boundary@ 5801. A whisper above it @ 5804. Now?
oops! I missed to study the intra aggressive trade set up. I remembered only your last day message to sell on rally. that is why i entered into the trade without referring to the pre market levels.
Thanx once again Sir.
Nifty futures OI reduced slightly..premium too increased...
Good morning Ilango sir and all,
Happy makar Shankaranthi and Happy Pongal to all!!
Sir, I think we can short now with a stoploss of 5820 - weekLEMA ?
@Anil
Call or put buildup has to be seen from the writers angle as they are the one are taking risks
@ Sujatha,NF trading above 5830 would be more hopeful for Bulls,but now a days these levels used to get break so fast,frequently and furiously that still it's too early to say something.
Sujatha,
I started with no proper preperation today so - today is not my day:(
RG,
Now that the dead horse is made alive, will it be beaten now?
mynac - yeah 100% u r right. need more "self study" readymade "fastfood levels" will not help. i deserved my 2 failures, i not done properly, see thing is 2 failures are - two different reasons. i tested today with "some limited mixed levels". I am not a Big bull unless 5840/5883 taken out today :P and keeping in mind "sir's alert" - sell on rally,after that u can't get it
A false breakout from the channel? Resisted at the 5810 resistance.
booked at 5820..
@mynac
ur calls getting doubled...
mynac - absolutely right. NF 5830 below is -ve. but breakout will give good upmove. halted exactly.
satheesh - that's quite common. sometimes if i prepare also it will fail 'contra trades" becoz of my hope/ego or overconfidence you can say anything :P
CK - othaleyendi gurrani - potha poni paikka :) nenu pettukuntanu ekkada
San one small request,
Can you spot a diamond formation in Nifty Hour chart?
@ Sujatha,
One guess...NF trading Above 5830 may force Bears to cover their shorts.
Priya Bhaiyo!
Makar Sankranti ne ek baar fir sabko aashirwaad de diya, pichle 5 saal me lagataar Nifty Makar Sankranti wale din apne bottom se kam se kam 1-2% upar jarur aayi hai. Agar 14Jan ko chutti rahi to 15jan ko ye effect aaya hai so Surya dev ki Jai.
Manoj
@ crorepathi
your "thelliay.... " is good!!:-))Looking out fore the next short trade
opportunity.
CK: "Resurrected and in ICCU". Patient has not walked out of the "highly infectitious" hospital. Not the disease(SHORT) but the infection (Profit booking) is the RISK element to this patient. And Fridays are known for the week end "BAR" hunters searching for liquidity.
mync...NF trading above da yestarday ATP 5797.. SO there is chance to beyond prev day High 5869
fire - i donno abt channel, but that is a FIBO no. i reveresed there with SL of 5850
now possible to upmove in Reliance and bank shares. sbi icicbank.hdfc bank
5807 61.8% retracement of recent fall from 5873 to 5695 level.
Dear prashant shah,
yes,but still I would like to wait for 5830 & coincidentally its today's top too.Let us hope otherwise Bulls like us would loose the confidence.
mynac - thankssssss i am out from my 'SHORTS " yeah it's showing high result in NIFTY FUTURE very fast rise may come if sensex cooperates, sofar it's cooperating since morning
Pichle 2-3 months me Jitni baar bhi Bears 5690 ke aas paas sell karne aaye hain...Bulls ne Nifty ko rocket ki tarah fly kiya hai. 5825 spot ke upar Game 50-60% Bears ke hath se nikal jaayega aur 5900 ke upar Bulls poore haawi ho jaayenge. Ab closing me dono ki power ka pata chalega bhai logo.
Manoj
@ satheesh,
Neither was it my day again. I had Internet Problems even before the markets opened. Thanks to BSNL. I knew instantly something major was going to happen in the market. I watched Nifty testing those 5690 levels yet again. But I couldn't buy into it with a small SL.
BSNL prevented me from logging in until Nifty was well above 5730. When the Nifty never came back to retest those levels, I immediately knew that the Nifty has finally bottomed out - atleast for the next 3-5 days.
sorry to come late...I was long at 5715 NF now booked at 5822 NF and again short at same level...my target is 5765 NS with Sl of 5830 NS
let's see what happens..
ns near highs but vix have again started to move up from its lows...low of 20.99...current price 21.9...can it have bearish effect now???
the way its going will jnsar hit today?
0.236% fibo retracement 5812. Stalling there?
SreyO bhaiya!
Aapke trades to kamaal hote hain aur aap achche insaan bhi hain. Aaj weekly closing hai aur Makar sankranti bhi so Bulls poori taaqat se upar ka jor lagaayenge, mujhe aasha hai ki 5830 bhi katega baaki Raam hi jaane. Ab Interest rate hike market ne discount kar liya lagta hai.
Manoj
unwinding in 5800 and 5900ce but addition was seen in 5700ce and 5600 and 5700pe not adding significant o.i....will markets pull down again???
ns at pre market highs...
out of my short...
Indeed a complex corretion , A and B over with 3 - 3 subdivisions
and now we are seeing C of this flat (ii) in 5 impluses ???
SreYo - alert... fast rise may come if 5821 resisting means, sure very goodddddddddd upsideeeeeeee
sreyo - good to know :) v crossed while posting.. sensex is cooperating so it's better "not to short now" let us see how it's resisting here
in ns 5 min/5 day charts a head and shoulder pattern is emerging with head at 5874 and neckline at 5698,if this time nifty falls near 5700,expect it to make new lows in coming days
@tpt
targets?
thanx manoj dada for your kind words....i'll not trade today anymore...as i'm busy with bihu festival here in assam....althou in broader perspective market is bearish as it is tradin below all indicators...but this buying from the lower level was expected...so i was long...now i dnt hav any position..
thanx sujatha mam...your experience and sharing that with us always enrich us..
SreyO Bhaiya!
Jao aur festival manao, market to daily milegi par tyohaar daily nahi so full enjoy kariye apne isht-misht ke sath. Good luck bhaiya...5690 ki power dikha rahi hai ki bottom ban chuka hai baaki next week dekhenge bhaiya.
Manoj
GUYS,
NSE SPOT MOVING TO 5875 RESISTANCE
@ stock4sure
the right shoulder is pretty big.. for the pattern.. i dont think its a valid one :)
Arpit
ilango
this 5eme closing above 5dma is yanai varum menna pinna mani osai varum muna
when nifty came dwonisde also same thing i saw . now alos from two days i am seeing 5ema closing abov e5 dama
syamala
Akash bhaiya!
Agar Nifty spot 5875 kaat jata hai to ye hourly chart par W formation hogi aur fir 6150 door nahi hoga January me hi...aapka thank u indication dene ke liye.
Manoj
thanx manoj da..
@ sujatha mam...would u like to share your level...i'm very poor on that..
Sir,
With the last one being a 5 wave upmove, does the overall view change to bullish scenario vs bearish ones mentioned earlier?
although not trading anymore...i feel nifty may touch 5760 if trades below 5806..
MANOJ BHAI,
MAIN 60 MIN CHART FOLLOW KARTA HOON,
US PAR 12/26 MACD GAVE +VE DIVERGENCE AND 3/5 MACD GAVE BUY SIGNAL
AND 14 STOCH AND 5 STOCH BOTH GAVE BUY CROSS OVER
SIMULTANEOUSLY FROM OVER BOUGHT TO UP AND
NSE SPOT HAS BROKEN 5800 TRENDLONE RESISTANCE
sreyo - if 5821/22 resisted well i am expecting sir's level. check the lead indicator which is matching with FIBO no. still v r in "bear's hand only" but temporarily as per P&F chart reversal is below 5700 only hence i am "longing" often in contra . even short term upside is above 5950 (as per my own)
SORRY FROM OVERSOLD TO UP
thanx mam..
SreyO Bhaiya!
Small picture kuch bhi kahti ho par badi picture me Nifty 5348 se 6339 jaane ke baad kabhi bhi apne 61.8% level ke neeche close nahi huyi hai. Down jaati hai aur fir baapas aa jati hai so jab tak 5725 ke neeche close na ho har dip par Buy hi banta hai. 5900 cross karne ke baad alternative count dikne start ho jaayenge. Dow already super Bull run me hai so dekhte hain ki kya hota hai bhaiya.
Manoj
Akash ji!
Aapka hourly set up bahut achcha hai, mai bhi moving average ki convergence-divergence follow karta hoon.
Manoj
Does any one have afl code for JNSAR & JNSAR-10? Could you
post the linke here?
too much premium in nifty..
PCR MOVED FROM .74 IN MORNING TO .82 CURRENT
AND HUGE SHORT COVERING SEEN IN 5800/5900 CALLS
For all Commodity Lovers.
Shortr Gold
Short Silver
Short Crude
All base metals may tank.
becarefull with ur trade.
thanx manoj da...
@ sujatha mam,looking at the 30 min chart of nifty, yesterday's 13:00 candle made high of 5829..today it got resisted there with few points +...so, i feel a downward momentum is comming
back to 10800 on BN and 5800 on NS ... quick fall in both in last 10 mins.
Went for Sl
Ilango Sir,
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I have short in NF @5840. Can I book or hold Sir?
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what a fall...
NEW POST DONE.
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