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...
50 comments:
sir how to use premarket intraday lavel
Sir ,
IS 5720-5750 is Ideal level to go short positionally?
he chart from 5832 high is giving 5680 as the maximum
point for this 2nd wave, it has almost reached there and fallen
the 3rd of 3rd of 3rd should begin now, it should be the sharpest
(3 threes!). it may target 5550/5500
nifty spot 5min charts are making a triangle pattern,may trade in 5672-5644 levels for some more time be4 giving any breakout direction..trgts 5717-25 or 5587-5600
Sir - thank you very much. 200 sma under threat means next target - 50 WEEK ema 5540 & 50 WEEK SMA 5500?? as prashant's 3 threes :)
The above image is showing very clear signal of the nifty curve.
from 6200 to 5700 it is a clear signal that blue line crossed
down red line.
sir, where or how can I get this same signal in the live
chart.
@prashant what if we have just completed an irregular
b of 3, 2. the c(5833) was anyway truncated.
in this case
we might rally. the time period of 2 was less than 2.
however the fall on friday was more suggestive of 3rd
the time period of 2 was less than 1
@ Nitin,
If you see the fibo retracement table, Nifty has retraced just 23.6% so far & weakening. In a strongly trending markets, the retracements are likely to be shallower.
@ Sujatha,
I am familiar with the old school of MAs in which 30wk & 40 wks are given importance.
Nifty is below 30wk. and 40 wk is poised at 5618.
Everyday traders come out with so many MAs and Emas. I am sure the dynamic markets may accomodate everyone. If it works, fine.
PS...
with your below lines to prashat...
"@prashant what if we have just completed an irregular
b of 3, 2. the c(5833) was anyway truncated.
in this case
we might rally. the time period of 2 was less than 2.
however the fall on friday was more suggestive of 3rd"
Am losing control of my head....its wobling....:))
One sharp rally is on if 5645 is protected...
@illango sir,
as per your analysis vix above 24.50 is serious bearishness at present it is at 25.40.....but 1 week before or so....you said 5600-50 is the buying area,is it still valid at-least for aggressive buy, if so whats the SL?
as off now i have no position....plz clarify me sir
@ piyush sharda
this is just one view,i will reverse to long above 5685
that is for intra trades
Addition in OI in PE 5600 increasing.....
ka :-)
Addition of OI of 3.5L in PE5600 reduced to .7L now!!!
@ Saz,
Generally 200dma provides the first cushion(once 50 & 100 sma fails) for the fall/ corrections in a secular bull markets.
The suggestion earlier was that the 1st part of the fall may terminate around 200sma.
In reality, it is distorted a bit. Now a seed of suspicion is planted in the minds with this price moves that this may be the 3rd wave down.
Aggressive intraday trades are alright assuming a short term bottom in but to be followed by critical closes above HHEma.
Overnight Long positions will be risky.
Raise the "Hold level" to 5660 now.
thanks sir
i have bought NF at 5650(sl at 5620) and booked now at 5685...
Sir - final tug of war between these two Bs. it's a trader;s day it seems. i missed my 3rd long :P
my logic works out - everything is bearish, all r in shorting mood a small +ve news or ta support + people who r in profit may book their profit, these will lead to short covering???
vix fast fall now below 24.50
Nifty met DLema @ 5696.
5700 call has added 25% open interest, if higher levels don't sustain
its still a sell on rises
@ Saz,
Good trade.
@ Sujatha,
When you look at this move in the larger context of the fall from either 6181 or 5874 or 5834, it is quite a small one. Only a close above critical emas in TT can give confidence. Till then, it continues to be sell on rises.
Sir wht was that 5645 ? I just missed it
@sujatha maam
yes, even my head and heart are at panincking end....so i decided do opposite(go long) faast booked at 5685....now the heart beat at normal rate....
this is what wise people use to say, buy at the panic....for me heart attack happens if i do trade opposite at the panic.....oooh
have to learn lot from JN wise guys....
Sir, Bought nf at 5660 while nifty spot closed above HLEMA. sold at 5700
Ilango Sir,
=====
I have short positions in NF @5700. Please suggest SL for this Sir
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sir, can buy again if spot closes above HHEma of 5701?
Ilango,
When you say "close above critical emas in TT", does it mean Hourly or Daily emas ?
Being a positional trader, which EMA should I monitor closely in TT ?
I covered 25% of my Short @ 5667 based on your call. If I don't get stopped out, Where can I Short yet again.
Thanks in Advance for all your help !
Good upmoves possible only above day's high now(>5696).
Below 5670, it is susceptible for more falls.
Thank you Sir
It until 5665 - 5670 is protected, upmove will continue.
Decisive moves beyond <5674 - 5696>.
@ Nifty,
Presently, to arrest the down move, Nifty needs to close above 5696 in EOD.
To give a short term reversal, it needs to close above 5DEma.
RG Sir,
Red hats are the flavor of season?
Your Monday, Tuesday & Changed Wed.. will they do anything?
Sir - thanks a ton.
Saz - actually i closed my positions on friday itself. hence buying @ low selling at high. i missed my 3rd round. now scary to short also :P if at all "99% of JN mates" in short also. (my financial capacity is less) so not taking risk. Timing is impt. "now" for shorting, if it allows i will short. or else only "trading" :P no other option for me.
It is feeling guilty to breach Sir's level
Now it is Below 5674
Sethu= i do agree with you
My post here..
http://www.inditraders.com/journals/4245-50-turning-points-high-probability-setups-3.html
keep a SL @ 562
keep a SL @ 5620 and go long.. for 5950 / 6000
The Great Afternoon Panic is back for the 5th (??) successive day ?
and go short at 6000 / 5950.. for 5300/5200
Sir, sold nf at 5672 and bought at 5635 :) Thank u once again
i wont trade if 5620 is hit will stay out for new WW to form
5640 breaks new lows it seems
after new lows if 5620 broken.. back up to 5700.
NEW POST DONE.
Looks like bearish momentum will come only below 5600. Here is a chart depicting the trendlines showing the momentums ---
http://picasaweb.google.com/yinyangfire/FIRECharts#5563069715194384114
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