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...
66 comments:
Head injury mynac - door closed @ I -resposting :)
thank you mynac for your views
have a good day
January 27, 2011 12:20 PM
i think now, nifty can move fast either side
Is it real breakdown?
Looks like a probable breakdown in BN below 10850-60.
Dear Sujatha,
Have a nice day,I am also closing my counter and shall come on Monday due to Family function tomorrow.Bye.
time for longs for 5620 as sl?
Seen continuous addition of OI in PE5600,
CE 5700 & CE 5800. Looks like a nifty close at 5675- 5680
Not trading today...
ek jhatka bears ko bhi lagna chahiyae:)
2nd attempt below 5665
"dhokha"
Dear manu,
Sad to say so but at present the data is not supportive for Bulls,so NF (This series) likely to show 5640 at least,is my hope.
below 5660 nifty cam move to 5620 with little stop at 5640
Addition of 3+L OI seen in less than 15mins
in CE 5700. Bears trying to push D nifty below 5665
BN breaking down
Expect NS not to below 5648.
10850 holding for now.A break would be nice.
hi mynac..
u r right for 2dy:)
Yes Mynac. We should short nifty on every rise What U say...
@all
I am using MT4 but on horizontal scale date and time are old so i want to know how to configure them to display the latest time setting
if any one can help I will be more than obliged.
regards
deepak
Dear Tigar ,
A big volume trade at NF 5664,may provide resistance first if Nifty shall try to climb from here.It may act as a Resistance & support from here if the current low shall be protected.
A move past 5670 may give intraday strength.Above 5685, intra momentum.
Bottom channel has been almost tested.
Currently, every small bounce has been meeting with dumping by bulls.
Intraday higher high(5670/5685) will confirm the end of such long unwinding and commencement of short covering.
dumping by bulls?
KA - any specific observation? Dear mynac has voted for the "claws". Manu sides the "horns".
Sir:
"Bottom channel has been almost tested" does it mean that lower side juice is over. we can book out our short?
rg ..hi..
i dont side horns/claws..
when world doing good (rbi also .25)
then whts d problem yaar..
indonesia has more prblm n econmy than us..taiwan too
is the bonus(hedge mnager) done n india..
@ rajgopal sir now VIX has broke the high so nifty range also move down????????
RG sir...rather than this expiry, am lokking at 5400 & 5500 put long build up in feb series...huge addtion today...
Good observation dear Ka. If U conduct workshop / training on
Option trading I would be the first to join....
@ manu - Mithali wearing "black" most of the times and changed her haristyle becoz of that??? hehe lolz
@ RG - who is it?? konjam mathi yosikeren 5660 demark this week's low just for your rememberance
euro falling...claws
@ Sujeet,
It is an intraday view.
Part booking is alright.
@ Manu,
This is what is called "Settlement blues" that "Profitable bears" aren't in a hurry to cover their shorts as is evident till now. They may do when they find "No more pain" is left with bulls.
euro non stop
LLANGO SIR, you always tell that expiry gives pain who are already in pain now bulls are in pain from 6150 level than bears. they are seat on lot of profit near this series low. so will bear cover they short? or bulls will submit since they are in more pain
Thank You Sir!
sir ..true..
anyone who is a only pure-trader and not a single scrip he
holds n
portfolio..except illango sir..
@ Dakshit,
Every selling will meet with its buying. Hence, short covering has been going on but with prices sliding. The short covering rally will start the moment sellers slow down and don't put in lower bids which will get reflect in scaling previous highs..(in 5 min cycle, it is 5663; in Hour T/F:5673)
looks like now BANKNIFTY will push nifty down until it was supportive
got it sir means RUSH OF SHORT COVERING IS not happening
my firs target done...now waiting for 5620...
Manu,
I dont even have demat account.Just Nifty F&O :)
i have shorted banknifty january at 10940 what is good level to cover it?
@DAKSHIT,
It may trigger the JNSAR for BN today. Keep watch.
in feb series...
option data is skewed towards puts but at the same not of much change seen in calls side...probably expected this afternoon...
sir, how do you see the scenario...will this expiry see new lows of covering possible ?
regards
Manu - Hi. Heard 2011 range will be 5400 - 6400 with 1-2% probability of higher and lower side (sub5k/7k). Let's see.
Hi Suja - using your CAM + Demark for comm trg. Gives some comfort combined with J10+pivot. Didn't analyse much of Demark, expecting PS's rejection !!! Hi PS - where are you? Disciplined traders don't trade on Expiry day? Is it true?
with eu also going red..no hope for bulls
rg sir,
here only. cud not look into demark.
is in pending list.
nifty may close @5705 5710 if not break 5640 down side...
RG,
One of my friend was suggesting a 30% correction in world asset markets by May.
Not sure - how to take it - but he has been generally dead accurate. He says sell everything and buy USD.
He does not trade indian markets, so do not know if what he says is applicable to India.
When I contacted him, he said USD is the only thing to buy.
I know you have a lot more sources, but just thought I add what I know.
ps.hi..
sold or wait?
sir..euro seems retracing all n 20 min..
ths s dangerous
manu u mean balance?
@RG Sir,
Looking its long term chart I feel nifty will move sidewise for at least three years between 4900 to 7500..
Disclaimer: I'm a novice in market.
yes
Hi PS. Not much material available on it anyhow. Just a wide frame range.
==
Hi CK : That's OMG stuff. If USD is backed by Gold (highest backing), then can there be an inverse relationship (Gold down - USD up)? In darkness we can close our eyes (so it will be darker) or look at the fire flies and be happy with the light. Just play the ball - not the bowler. We will watch the drama.
@ Illango Sir,
I dont know if someone has noticed or not, but today we have broken the low of 20th Jan.
What should be considered in this scenario?
Regards
Above 5655, intraday rally possible.
no manu
@ manu - me too "only trader" that too "day/short time" trader :P i am not lucky with positional or don't hv patience to trade?? donno but earning something in this "trading"
@ RG - demark vathiyare neengathane..?? :) i omitted lot(like R1/s1 etc) "and doing only weekly resistance + weekly support levels" since 2 weeks not bad at all that's extra side dish for me to observe still v r trading below monthly demark's breakout level(both indices) main sappadu cam - fibo. regarding CK's post, yeah if it's true then what i read in "hindu" a month back article is right. written by Kerala's additional chief secretary Balakrishnan (donno former or working) but he is alerting "about gold" mania. his "Q"s r worth, believe u know abt that article. it's very good.
@Sir,
Is it a aggressive buying scenario?
if holding 5640/18870/80 intra upmove ready
sorry sensex - 18800/
NEW POST DONE.
@ FIRE what is jnsar level for banknifty if that trigger than big fall. i dont understand technical to much
I SAID IT A FEW DAYS AGO, N M SAYING IT NOW AGAIN=
5633. WATCH THIS !!!!!!!
ABOVE AND SUSTAINING 5659-60 SPOT = A DECENT PULL BACK
IS ON
if 5633 survives= bigger volume oriented consolidatio
will happen at 5656 or so
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