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...
85 comments:
Sir, did we see today's top?? nifty is trading below last hour's HEMA..asked just for learning purpose..
Good afternoon everyone. Wishing you all a very happy Makar Sankranti.
5700 calls, 5800 calls and 5900 calls have shed 10% oi today.
Can this rally retrace till 6000(where you have good amount of open interest). Only markets can tell.
As long as Nifty is kept below 5815, the top is in for the day.
Closing below HHEma means sell on rises.
BN lost all its gains
5765 has come...let's see for bonus points...
Below Dlema
Thank you Sir
It is still "Sell on rises" only.
I hope we break 5690 this time. I am finally on the right side of the trade. I am a bear now.
A Head & Shoulder continuation pattern in the hourly chart?
RG,
Bar hunters at work.
CHEERS!!
Ilango,
Can we consider it as start of 3rd down main wave if it goes below 5665?
broker(SKI) terminal message
BASKET selling in NIFTYYYYYYYYYY ........
nifty ma break 5673 also..if 5701 not protected...
Thank you Sir for your Analysis.
Booked out @5715NF
@ sujatha madam,
have u exited your long?
some r buying the dips
some r shorting the rallies
some like me r shivering on sidelines
Bada High voltage day hai ye Makar Sankranti ka...4 hrs me 150 points up aur 30 minute me 150 points down. Nifty ki hai Ajab kahani...
Manoj
urti patang sa hai yeh
2:30 factor?
Shree ashtavinayak cine. only buyers today. no sellers. ????
dollar index makes new low 78.975
5690 broken too.
these 10 days were one of the most interesting trading periods I have ever seen....
freeeeeee fallll....
Such falls could even lead to "Down freezes"..if 3rd of 3rd is in progress..
Will S2 - 5661 will hold or open the flood gates??
SIL
i lango sir,
u snatch my words
sheer madness on the D street
respected sir
i see good buying opportunities in bosch ltd, r com & hcl tech, in this madness
SreYo - thanks for your concern . i exited my long @ 5811 the same reversed there that's a FIBO closed my shorts @ 5680 levels . will take fresh views on Monday.
Sir had mentioned that VIX above 23 and break below 5690 will be significantly bearish..and look at how its fallen.
5665 holding ???
@ sujatha mam,
i'm not trading today for long...but i feel 5660 is the bottom of this correction...and 200 ema will be protected.
Hi dear sir Ilango,
if nifty spot closing below 5690 today (means weekly),
we out in long position in stock and also in nifty too?
regards,
alpesh
yeah.. rr khan exactly that's y i closed my shorts @ 5680 :D in advance. sensex too cooperating/correlating there
there is news item in Mint that Americas rating may be downgraded if they continue with the loose monetory policy.
Nifty 5673 another 140 points to reach.....
ShreYo - my itching is 5667 + sensex at this level closing is impt. hence out from my position. market is always there. take position on monday. i don't want 2 take risk on either side. Because 100% strongly believe that nifty will close above 5665 levels so don't want to take risk 5700 is stone thro away distance. sir is giving "bada target". i will wait and catch on monday.
Beauty of PnF :) ... simple yet effective ... sweet 5660 for the week done ...
Sir,
in long term daily chart nifty is behaving just like as it behaved in 2008. there are many factors present...and in january market normally goes down...if i'm not wrong nifty may correct upto 5300..please share your views in this..
regards,
sreyO...
Sujata
What is the "bada target"?
My Intraday Shorts got stoppedout today morning and I missed this entire downrally due to net problem!!! When I got my net connectivity back NS was 5690 exactly!! :( :(
Hi dear sir
plz slove the quary
alpesh
@ bhavesh - hope nobody will "take us" seriously :) no need to worry at all.
@ SreyO - Personally feel nifty close above 5665 + sensex abv 18900 K level is still hope for temporary bulls
RG - enjoyinggggggg??? Convey my "happy mattu pongal to bull" :D if you say it will move like "jallikattu kalai"
Ok. Bye sir and all. Onceagain Happy Pongal Makar Sankranthi to all :)
yes ur right ilango sir, also wave c of ii got truncated suggesting alarming
weakness, wont be shocked to see a sellers ckts !!!
SreyO,
I am also having the view of 5500, 5300, if NS breaches 5648..
@ sujatha mam,
i'll also take fresh position of nifty on monday...but as for intraday i feel a doji pattern will come up in daily chart, means closing near 5745 to 5750, if nifty able to move above 5690 now...
thanx prabhakar...
@satheesh,
In future, you can place an order at your dealer with strict SL
Hi dear sir Ilango,
if nifty spot closing below 5690 today (means weekly),
we out in long position in stock ?
regards,
alpesh
namesthey sir and everyone,
sujatha madam 200dema is 5640
@ alpesh,
I have given my view clearly earlier:
Ilango said...
"5873 & 5907" are to be considered as important resistance points.
There are two views currently:
A:Bounce for the steep fall from 6181 to 5698 is done in two days and the next phase of down move has started which may pause around 5665-5685 and stay sideways before resuming downtrend..deep cut.
B."5 sub waves" of the fall gets completed with today's low and a rally for 3-5 days may emerge to be followed by a revisit to the lows or lower.
The above two are bearish scenarios.
For the Bulls: Either today's low or 200sma @ 5595-5610 should hold and FIIs should follow it up with good amount of buying. And VIX staying below 23.5-23.75.
January 14, 2011 10:13 AM
5665 gaya
markets in ghajini mode : forgets in 15 minutes which way to go :D :D
Shall we go for next round...
Cheers!
5645 is month low ema, is it getting supported here?
Sreyo, NS moved below 200ema
thought today's low is 5660...i was terribly wrong..
As per lakshmi ramachandran blog,
The right shoulder as of now is extremely malnourished
making it easier for bears to break the neckline at
5700.The forming of a pennant , which is a
continuation pattern , points at a break on the downside.
The move if breaks down will be equal to the move before
forming the pennant.
As per this target will be around 5200!!
Sir, what is the 200 ema, is it 5642 or 5647?
from monday nifty will shifted in t2t segment due to high volatility and increased fii selling :p
only A is left.
yes prabhakar...but no trade for today...i'm a small trader...work most of the day with mini nifty...so cant afford to loose...:)
Monday we should see the selling climax!!
@ Prabhakar,
200EMA is 5666.
200Sma is 5600
Illango sir any comment on the following?
The right shoulder as of now is extremely malnourished
making it easier for bears to break the neckline at
5700.The forming of a pennant , which is a
continuation pattern , points at a break on the downside.
The move if breaks down will be equal to the move before
forming the pennant.
As per this target will be around 5200!!
thx sir
Month Low ema is 5597(Dec); Jan. MLEma comes down as new lows are being made and so consider Dec. LEma.
sir, todays fall reminds me the day 25th ma 2010...on that day nifty closed below 200 ema...but strong pull back day after and there after stopped at 6339....can this happen for this fall too??
(please forgive me...if i'm talking much...actually i want to learn)
@ SreyO,
It is a different context..as per my little knowledge.
Thanks sir. But my chart is showing 200 ema at 5647 at Daily TF/bit confused.
Thank you very much Sir for your Analysis.
I closed my all shorts @5649 NF which recently initiated @5700NF.
Today I am very happy.
Rely more on Trend indicator (MACD) to trade when a trend is on.
Lead Indicator(Stochastics) works well in ranging market.
Thank you sir.
@Anuj,
Where are you today?
HAPPY PONGAL., Makar Shankranthi., Bihu.
BN back to Aug'2010 levels ! it actually recovered 50 points in the end !!!
Bye Sir and all
Thank you for your wishes Sir and Wish all blogmates a Very Happy Pongal, Makar Sankaranthi & Bihu..
Have peaceful and Happy Weekend.
Really a happy Makar Shankranthi!!!!!!
Sold 50% of my 5500put @47 accumulated @17. Rest 50% for 100+ :)
Huge OI addition in 5700 and 5600 calls. Now 5700 becomes big resistance?
bye all...
Huge Turnover,particularly FNO oriented trades.
NSE Cash Rs. 12732 CR,FNO Rs.208596 Cr. BSE Cash Rs. 3052 Cr.
Bye Everybody,Happy weekends.
Seasons greetings to everyone.
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