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...
67 comments:
A nice 3 wave move completed at day's high with A=C. Also the high coincided with 61.8% retracement of the last minor swing. Added some shorts.
Buzz bhaiya!
Agar Nifty ka long term trend kharaab ho raha hai to bhi Bulls apna maal nikaalne ke liye ek rally karwayenge jarur,ek pre-Budget rally bhi due hai aur wo short jaane ka time hoga. Is level par short jaane se risk reward majedaar nahi hai bhaiya. Dollor rupee wali baat se hum agree karte hain, Jab tak Indian apne yahan ki local companies ka bana hua maal khridna start nahi karenge, Dollor majboot hoga Rupee ke muqaable me.
Manoj
bhavan kayan khovai gaya?? gmail par to aavoo if u free
Manojbhaiya, chaliye aajka din dekhte hai... fir agar 5529 ka pivot ke upar jate hai to fir main long jaunga... main to filhaal seekh raha hun aap subse... bahot bahot dhanyawad ki aap time nikalke mere se baat kar rahe hai aur apne experience se mujhe seekha bhi rahe hai..
Waise if possible aap mujhe ek baat batayiye ki aap kausa tool follow karte hai jis wajah se aap itne bullish hai..
@Sandy
Mr. R.P was admitted last week in a hospital. Now he is better and got discharged. He is taking absolute rest. May be after a couple of days he will participate in our activities.
LV
LV : Thank you for the update. Our prayers with RP.
@LV, Good to know that RP sir is doing better now. Thanks.
@ LV,
Thank you for all your efforts.
Oh my god. Now everybody has started conversing in Hindi !
@venkatapathy,
Great News about RP !!! I am very glad to hear that he will be fine very soon.
Got it. The "Good Sam.." Long live.
Thanks San for the update.
@Nifty, I'm sorry for the same, didn't realize. Will keep that in mind.
Regards
Sir, It is an opportunity to guide one of our friends for which I thank God. When all of you show much concern towards one of our members I felt that I must take the case. What I did was only professional work. Along with you I also pray for him.
Regards,
LV
@Ilango Sir, if Price not sustaining above 5Ema 5475,
Can we go short?
@LV: That is good. keep the good work on...
Sir: Can we go short at this point...All EMA seems to be are far away from bull
Buzz bhaiya!
Hum ulti chaal istemaal karte hain..Jab sab teji me to hum mandi me aur jab sab mandi me tab hum teji me...Yahi hai mera tool aur yahi mujhe pichle 15 saal se market me banaye huye hai. Waise jab aap naye hain to abhi seekhiye aur baad me interview lijiyega hum sabka..waise aapka naam Yogi bhai hai kya?
Manoj
@LV,
You are a true human being. Thanks for being there.
Above 5480, 5495(HHEma) & 5530(DLKEma).
Below 5435-40, new low possibility.
5435/40 to 5480 is minor trading possibility.
Tigar - doubt your own bullish target 5550? posted earlier. Just asking. You have reason for reversing.
higher high and higher lows ever hour??
mANOJ BHAIYA= i SAID A FEW DAYS AGO, N 2DAY=
The only technical indicator= is that ALL R SHORT,
HENCE GO LONG
Master,
Can we say that the move 5416 to 5481 was A, B completed @5441 and C could be completed @5505 (A=C), which also coincides with the level given by you? Then some more shorts could be added there.
@RG, Holding long & adding at lower levels. Need consultation
from sir before any wrong step. I am learning & will be
learner always....
@ Fire,
When in downtrend, the prices tend to move away far from the averages and these rallies and bounces may be treated as corrections - this is a good price correction. Sometimes the correction could be of "time".
Intraday trader attempts to capture some of that.
Trend remains down.
Trying to label a correction in a fast market is tough. You could be right.
@RG:
The ATP, intraday and or eod you can get on 'NOW' nse trading terminal.
Deepak bhai!
Aapka trading style achcha hai par bahut fast hai so usme whipsaw bahut aate hain, agar aap apna time horizon bada le to aapke stop loss utne nahi katenge...waise bhi bhai ji sabko apna apna style hi pasand aata hai. Par aapki ek baat bahut achchi hai ki aap trade karne se pahle ya uske sath hi bata dete hain..Maine aise bahut log dekhe hain jo trade ke profit me aane ke baad bataate hain ki unhone profitable trade catch kar liya tha. Monthly closing hai aaj..Bulls kuch to jor maarenge ji.
Manoj
Good Tigar. Thanks narendra - it will be useful.
Master,
I am not trying to label. Just trying to implement one of your lessons, that the completion of a 3 wave counter-trend move is a good opportunity to add positions. Was writing A,B or C for ease of my own understanding.
@Manojbhaiya,
As of now main aap subke post padh raha hun... khaskar yours', Deepak's and Ilango sirs'...
15 years is a fantastic timezone... I was in school in the year 1995-96..
No I am not Yogi, my name is sourav :)
Me going to sleep now.... you have a nice trading day... agar raat ko aankh khuli to fir main dekhunga if the pivot is crossed... will go long at that levels :)
Regards,
@ Fire,
As this correction is for the fall of 5801 to 5416, the retracements are:
23.6% : 5507
38.0% : 5562
50.0% = 5609.
Buzz bhai!
Sweet dream aapko, waise jo aapka buy level hai wo hi mera sell ka level hai intra day ke liye...uske upar to market kaafi strength pakad lega.
Manoj
sir,
it has just broken the trendline frm 5800.
u 4rt wave tendency. cud there be a 5th pending in
5800-5614. if not then this rally may last few days
OI increased in SR PE 5300,5400 & 5500 in last 20 mins
typo ur 4th wave tendency
@P.S,
In my chart, NS has just hit exactly the trendline and been rejected from there for now. It would break above 5500. What say? :)
Ilango Sir, Crossed aggressively 5500..
Sir,
it seems hourly macd and stoc is moving up? could you pl. let me know to go long if NS Sustains 5507 23% FIBO.
But 5505-07 looks like THE intra resistance to me now. :)
fire,
for me broken very firmly
@ PS,
6181 to 5698 and then an irregular correction till 5801 took 10 trading days.
The current fall from 5801 to 5416 may take 2-3 days or more before the next downmove unfolds provided it is kept below 5655.
@ Prabhakar,
Trading against the larger trend should be done with pre-determined levels only.
@manoj bhai= i have already picked up 90 odd ponts
2day long/short/then long again. I m comfortable with
fast trades. Positional mae pataa nahee gap up gap down
maar dalae, so I do intraday only
Hellosir
Manu bank nifty rockin
@P.S.,
You are right. :P
@manoj bhaiya= watch 5512/15= 5SMA daily basis.
iis k uupar= upside upto 5545. AAp nae agar maeree
previous aaj kee comments padhae hae= toh aap nae
maerae levels daekhae hongae
Deepak bhai!
Badhaai ho aapko, mai aur aap hi sirf teji me they morng me..warna sari market laal ho rakhi thi. Bhai ji aaj ki 5430 wali 50% mai bhi carry kar raha hoon...afternoon me aur jyada maja dena chahiye.
Manoj
Hi WWI - will it lead Nifty to your 5800 target?
Havu u considered 5655 Resistance level?
Is you blog ready? PS says couldn't reach.
thank u sir.
FIRE : What is BN JNSAR? Will it hit to go Long?
Yes rajgopal wolfewaveindia.blogspot.com
I dont folow resistance support
It may test 5380
why predict about nifty price ??i dont think so k Fii DII AND OPERTOR is predecit about nifty .. price trend is beraish so mkt is bearish thats its ..
@ RG,
BN's JNSAR is 10823.
@ RG,
BN's analysis is updated every morning.
http://wealthinnifty.blogspot.com/
@RG,
10710-740 would be a good resistance zone. A confident move beyond that could trigger it. Otherwise not. Personally, I would like to use a filter today (against the established rules), as JNSAR for today is very close to 50% retracement level. I wouldn't like to take longs and then realizing that it was a normal correction only. Enough of those trades! :D
Master I remember "ennna valam illai indha...' I just "kaatru vaanga ponen..." Got a regular net connectivity after a long time(hope). Will start my morning "sandhya vandanams" hence forth. Thanks for all your efforts.
Master,
I am sorry if our discussion about trading BN has offended you in any way. Your daily analysis is my main guideline for trading. I apologize and henceforth refrain from these discussions.
Priya mitro!
Kya 5 min chart par koyi Fast rise ka set-up ban raha hai, agar koyi bata sakta ho to pls confirm kar de.
Manoj
Fire - U have concurred with Sir's view in WN post. He has mentioned "minor bounceback" if 10350 held. When has he objected views/contrarian views?
@ FIRE,
Where is the scope for any misunderstanding..Relax.
@RG,
As I learnt most of my practical trading here form the master, I am afraid of offending him in any way whenever I write something here. When he reminded you about Stockwealth, which is very much wellknown, I took it as a rebuke. Perhaps it is all my misunderstanding.
@ FIRE,
You did the simple EW analysis and said 5507 to be shorted. Those kind of objective analysis will keep you in the success path besides educating other readers.
Thank you Master.
Thank you RG.
Taking deep breaths and trying to relax... :D
@manoj bhaiya= i did caution you of 5SMA daily
@5512/15. i went short at 5509, but coverd at 5482.
Now the trend lines intraday have been broken= only
S1 can save the slide now@ 5453
Deepak bhai!
Mujhe yaad hai aur mai bhi cautious ho gaya tha so maine 5500 ki call 134-135 me sell kar di thi as hedging, kuch abhi 112 me cover ki hai..kuch aur neeche karunga.
Manoj
NEW POST DONE.
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