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...
69 comments:
@jazz ,
among two ABC correction scenarios what is ur preferred
count 5500 or 5300. 6338-5690 648 points.
6182-648 5534 already achieved.
Reposting...
Thanks Sujatha madam,
Actually my analysis goes in this way..
After nifty entered in bull phase from bear phase of 2008, in the last correction, we saw 52 week ema gave support to nifty. It happened time and again when correction went on in bull phase. I think nifty is still in bull phase and it is simply a correction going on. So, it is high probability that this time also trend will reverse from 52 week ema which is at present 5530 now.
regards,
sreyO...
great call suj,
does ur husband know u r so talented? :-)
@Sreyoda, if I may ask... are you also holding long positions like Manoj bhaiya?
Regards
unabated flow of long positions in 5200-5500 puts.....
@ buzz,
R u Yogi da? Yes...i bought at 5550 NF.
sir
thanx..
3200 for lt..will hit india growth story
beggars cant be choosers:)
@ all
a breakdown in icici bank... if closes arnd the lows made today morning..or below that.
it looks lik a falling wedge breakdown.
Arpit
Sir the longer term ww indicates 3600-3400 provided there r no contarary waves mayve by june
@ Ka,
In preparations for the swift "iii" of 3rd..?
So far no contarary waves
nifty made new lows today but vix not yet at its prev highs,can it be considered as positive divergence or more fall is pending till vix test 25-26 range once again
Dear Ilango Sir
iii of 3rd means bullish or bearish here?
@RG,
In the second tgt zone...
@ Okay,
Where are you...?? :) :)
There is only "Red" in the tech.table.
And the labeling is there in the chart.
Option data suggesting intraday reversal...
SreyO bhaiya!
55 Week EMA jyada reliable hai aur wo 5502 hai kyonki 55 Fibnocci number hai so is ki value thodi jayada rahegi. Buzz bhaiaya aaj sabka interview le rahe hain.
Manoj
@RG,
Booked some in BN.
positive divergences getting visible in 5min 5 day charts,at what price it is advisable to enter longs??
@Manoj bhaiya aur nahin.. mere sone jane ka waqt ho gaya hai... kal subah dekhunga ki market ka kya haal chaal hai...
regards
Ilango sir how do you have the option on blogger to have posts like this and comments below?
please guide me as I want to setup as the same
Buzz Bhaiya!
So jayiye par running market kal nahi milegi, wo to ab aap Monday ko hi dekhiyega.
Manoj
Was there a double bottom at 5525?
@ Manoj,
Thanks.
Manoj bhaiya.. aapka monday morning mera sunday night :)
happy trading!!
I've also sent you a message on gtalk. please add me sir
@ Piyush - lolz??? :) that's the fact based on EW (fainted??? get up) in weekly charts hehe i can't reveal that one.. it's "my own testing" but yeah it's true i am trying ..once it done .. then huh...then salute sir not to ME :P
@ Prabha - hurrey.. little busy don't mistake it's not fibo, it's EW :P wht i posted 2 piyush is applicable
@SreyO - no. this time looking different. lt us wait and see. Agressive long means can try to catch the falling knife @ sensex 18350-400 nifty 5475-500 should touch and reverse means a 'BUY' finally i gave up
today nifty has tried three times to break abv 21ema in 5 min intraday charts from below but could not,currently it is at 5540,
i guess strength in ns only abv 5540 if sustains abv
Ilango,
Last time when Nifty fell to around 5625, Bank Nifty was under 10,400. Now Nifty has fallen to 5525, but Bank Nifty is still trading well above 10,400.
How do we read this ? Does this mean Bank Nifty has already corrected much before Nifty has ?
i guess last dip may be coming for 5505-5515 range
Oh Buzz bhaiya!
To aap videshi pardesi hain, koun si country hai bhaiya jahan ka aap anand le rahe hain.
Manoj
Thanks Fire. Followed.
Hi Avinash. We will "Hope" for the future and "Live" the present. Sir has fully grown "Claws" - no chance for bulls ??? Today Friday - will we see sub 5K also?
ps..ril 915 52 wk..low till now 520..
if fii not invested in it in 2010 then they
will pull it 2011..
if low holds..if
manu - no entry now in RIL pleaseeeeeeee...some news...
options data indicating of test of 5400 near levels once next week and then i guess a strong bounce may come which most of us are expecting
Manu - you remember my post on Reliance
http://wolfewaveindia.blogspot.com/search/label/reliance
@Nifty,
There is another thing in BN. After the fall started from the peak, every rally corrected 61.8% of the previous fall. But the last rally, which culminated on tuesday, failed to do so. Perhaps a bit more weakness this time?!
@ Sujatha Madam,
Thanx for your timely advise...I'll reverse once my SL Hits @ 5515 NS.
Can someone help me with my blog?
@Sujatha,
5380 is also a Fibonacci level (61.8% retracement of the rally from 4786 to 5339) :)
sreyo - oops. that will hittttttt
fire - yeah that's right
@ Wolfe Wave India,
I do not remember changing the Comment box setting except for the "Author's comments" as advised by "Dinesh Rishi". Let see if there is anything I can pass on to you this week end
BTW, where is dear Dinesh Bhai. I miss him.
suj,
i got up.:-) but u day trade with
yearly cam and weekly ew.
may be the inventors will have lot to learn
frm u .
Thanks Ilango sir
Dear Ilango : At your leisure, pls take a look and comment
http://krgonline.blogspot.com/2011/01/has-nifty-started-killer-c.html
Cheers
manu,
dont track ril. fii fund managers wud be very savvy
guys plus we dont know their motives. do they really
behave as a class that we can club? just take any number that
u please. without fail below that sell what u want to.
no point getting confused.
very sad sreYO - but be ready for intra move
it seems 5480 inevitable for d day.
@Sujatha: Which side intra move you referring to Sreyo?
@Sujatha Mam,
yes...hit my SL..and i've come out of my long..
TCS has formed a HNS on hourly & also GAP needs filling
Short @ CmP
GESHIP also can b short for 300 or so
piyush - lolz :) that's not only weekly nearly 8-9 months weekly charts.
sreyo - still some downside left :P
@wwi
any view abt m&m
yes sir,
I do feel the absence of Dineshrishi sir........
where is he.....?
I mailed him before 15 days and he replied he was busy in some other work and trading goldbees etc....
@ Wolfe Wave India,
will give you guideline at this week end for comment tab etc.
-gauresh59
@Sujatha Mam,
5475?
when it will confirmed it is wave 3 ?
If this 3rd is 138.2% of the 1st, it could reach 5288.
If this 3rd is 161.8% of the 1st, it could reach 5136.
Can it go? Sujatha? :P
@ ps - re. m & m -http://stockmarkettechnicals.blogspot.com/2011/01/m-double-top.html
Looks like market is finally taking support...
Time for aggressive longs? for a sharp rally methinks.
thanks mk
now after 100 point from 200dema..
all rallies will be sold heavily..
2010 133k cr by fii.
they hav just taken out 3000 cr n jan..
mera kya hoga kalia:)
Sir - just started my attempt to build on some training
material on Wolfe Waves / Gartley Patterns etc.
Which will help all
http://wolfewaveindia.blogspot.com/p/wolfe-waves.html
Ooops falling again..no point playing aggressive longs when JNSAR does all the work so beautifully!! :)
sreyo - yeah.. + nifty future has yet made its 'DOWNSIDE QUOTA" by the time it reaches + nifty spot 5475 means.. let us see.. how it's reacting there if not much reaction for upside @ 5475 means direct "lovely siz" 5404 :) don't worry abt the indicators.
fire - yes.. my levels too matching my worry is if 5380/52 breakes means... this 'BULL MARKET" will vanish..then i hv to break my head again for "NEW LEVELS" :P
How do you sell during a trending down day..??
Every support becomes a subsequent resistance to sell.
Morning low of 5557 at 9.40Am became a resistance at 11.50Am;
Next low of 5528 at 11.15Am became a resistance at 12.33PM.
Shreyu - Now our market is like "our indian cricket team" top batsman out means...zynggggggg all will soon back to pavelion like that all (batsman) resistance gone now i am waiting for "yusufpathan" :) which is the level? any guess.. yes, i am able to but not yet taken any action waiting for the "timing"
NEW POST DONE.
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