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...
71 comments:
Dear Prashant shah bhaiya!
Aaj to kamaal ho gaya guru ji, aapko buy karne me profit mil gaya aur mujhe short karne me. Aapki dua se mera 5750 Nifty spot intra day ka stop loss bach gaya..maja aa gaya bhaiya..50 points 15 min me hi mil gaye. Aapki shubh kaamnao ke liye fir se dhanyawaad bhaiya.
Manoj
@ Tigar,
One should primarily trade based on Our market prices first. If anyone has followed global markets, he/she would have missed the entire down fall of 500 points.
Dollar Index, world cues are to be used to add weightage to our own observations of "Our Market prices". All the rest are reference point to reinforce our observations.
There is a general "inverse co-relation" to dollar index to equity markets.
My point was: If Dollar index has done its corrective move at 78.575, it will resume uptrend again which may lead to a sell off in equity markets.
I closed my shorts Sir, as it closed Dlema. Can I go long here or sell on rise Sir?
Where can I find the calculation for JNSAR?
Please help, I want to program it in my TA software!!
Thanks Sir.
Where can I find the calculation for JNSAR?
Please help, I want to program it in my TA software!!
I guess we are definitely drifting towards 5600 level
5682- 5690 is a pretty good support currently
according to me, n i stand to b corrected= look at
intraday chart from 11/1. There is a huge support
at these levels@5693-90. Cud anyone throw some light
@Pawan Jangid,
whenever it moves below your figure, you will be on screen.
any sustainence above 5682-83=is a solid buyyyy
nifty down 50 points...still 1hour left..
@Pawan Jangid,,
*nice trading
@RG sir, 2.30 -ve today??
@Prabhakar,
Holding any intra positions?
Priya mitro!
Aaj saare supports break hone chahiye...thoda wait kariye.
Manoj
@Prabakar,
Yes holding. Again initiated @5702NF
be careful with longs ... look at Bank Nifty chart has hit
the upper trendline resistance and now correcting to targets of
9800-9700 ...Nifty should follow suit as Bank Nifty has been leading all the way
@gsingh= i m long now. waiting for 5687 to cross.
I think there is a IHNS formation at 5687
ydays opening gap holding ??
Ok. Prabhakar. hope it a short.
Wish Wed 2.30 villian stopped his fight. Pleaseeeeee....
Yes gsingh (but not seen its force today - expected to touch -60 atleast).
oops...forgot to add "u can laugh"
@gsingh= if I m right= n God willing= trgt for upside
= 5800+++ now, only n only above 5682 sustaining
@rg. thanks sir!
@ deepak, i feel sell on rises is better option...
@gsingh= covrd my position at 5676. Mrkt has brokn
supports. Likely to touch 5635-40 zone
v hv a truncated expiry week with lot events like fed meeting, RBI etc. So be with the trend no adventures.
@ Deepak Bhai, Please dont predict the nifty. Just go
with the trend...
@gsingh= but on an EOD basis, stochastic is at 8. Likely
to rise also
i m yet a buyer again @ gsingh= spot sustaining 5682
@ RG,
How did you arrive at -60 atleast.. "Well soaked in intuitive powers".
looks like wave (iii) of iii has already started
@deepak, i m still with the trend and it is down at the moment.
Dear Prashant Bhaiya!
Aapki dua se aaj motey paise chap gaye par 50% Nifty short chor ke hi jaaunga kyonki Nifty ne 5680 spot break kar diya hai...ab target 5600-5550-5500 hai kal parso tak.
"MANOJ said...
Prashant Bhaiya!
Mai to Nifty sell kiye ja raha hoon kyonki short aur medium term dono trend abhi down hain, Intra day wale trades ka stop loss 5750 hai aur positional wale ka 5835..baaki dekhte hain bhaiya. Ummeed hai ki 5680 ke neeche down ka momentum tej ho jaayega.
Manoj
January 19, 2011 10:06 AM
@ mynac - niyfty exactly moving as per hrly yesterday night posted about the upper resistance forgot 2 post support. 5670 not arrested means 5625/30 levels again :) hereafter will post the both
@gsingh= i have gone by sir's logic and bought at
lower levels again. Will keep buying till 5625. He has
shown us the upper/mid/ n lower bands. i bought at
5663, keeping in mind that 5625 is possible also,
but the risk reward ratio is too good to miss.
Closed my shorts @5774 NF
ps..cvrd 50 %
@gsingh= nifty retraced back from exactly Sir's mid band
level of 5660 or so
Sir this blind man has a navigating stick. It saves him from rocks and pits on the road.
@deepak...i'm also not doing any intra trade.
Dear Sujatha,
At least at present stopped at 5660.Now the over night cues will be very much important for tomorrow.
guess u did right manu . looking dicey
Blind man may have 3rd eye? - just joking. Still I am following your caption Mr.RG
Where can I find the calculation for JNSAR?
Please help, I want to program it in my TA software!!
Aybody!!
Strong buying is coming at lower level.Look at the NF O.I.Huge almost 30lac.intra day addition in it>After many days.
Aaj Europe aur American mkt shaam ko laal ho jaane ka andesha hai so plus wale bhai logo alert rahna jarur, European banks pressure me rahenge.
Manoj
@gsingh= what a GOD damn pullback. watch the fun
above
5703 sustaining
ps..i hav to pay off a debt..
every day waiting to c it going up is no fun..
scene has changed a lot..this correction is not like previous one..
my portfolio was decreasing even if broader market up
"Strong buying" - thank you dear mynac. "Additions" are +ve? not Shorts?
Sir - today too TT worked out very well, but howmany "used" that one is the "Q" :P don't hv time to post how i did. But i request "blogmates" instead asking sir "please go thro and observe the TT on your own" can learn more.
mynac - simple, since 2 weeks are "trader's paradise". that stopped level is nothing but 23.6% retracement from 5624 levels :) will try to post 2morow's level in the night. As said by sir in "trading market' don't sit. just trade :)
@gsingh. If spot closes above 5712 on an EOD basis=
my view= it will open above 50SMA on an intraday
basis= 2morrow morning. this may b a run away gap
for upside, which will be filled in the next leg
of downturn
@ Deepak,
As long as Nifty closes above DLEma, it is buy on dips.
@ Sujatha,
Realised soul.
Ilango sir, this can b third of third, i hope???
@gsingh= coverd my longs
Anuj,
morning onwwards no postings.
Closing again below 5DEma.
So play the longs only on intraday as long as stays above DLEma.
@Prabhakar
just came back from mumbai, was out for 5 days.
out of 30 lac OI addtion....it was 15 lac till market was at 5730-34...rapid shorts were built to bring it to 5660...and now again the last 15 mts there was a sudden closure of 8 lacs OI which bought NF from 5694-701....hope this helps...
Thank you Illango= did well 2 day
Bye Sir and all
Thank you Mr.Anuj,
Bye everybody.
Bye Sir and Friends.
Hi ka do u mean the additions were Shorts? Nothing to cheer about !!!
Todays VWAP 5708
Dear RG,
As NF gave a last trade at 5697 i.e. 35 points away from low,indicating that 5660 is important.More fight is possible tomorrow here if it shall come again near 5660.This 23.6% retracement level has it's own importance.So let us see tomorrow.Bye everybody.
llanog sir you always tell that expiry gives pain who are already in pain. so those who were long near 6150 post breakout are in paion rather than short sellers. so will we go lower than 5600 on expiry?????
Sorry RG sir...was away
Thanks Mynac for that beautiful point....as always.
Yes, the longs of today still exist majorly after sudden closure of 8 lacs in the last few mts....do you think 5660 would be respected if at all we visit there....or start the journey yet again to negotiate today's higher levels...
btw, 5500 put saw balance of both writing and buying...5800-900 calls were writtern actively today
quite an interesting scenario....lets see...
plz help with your valuable view point.
Dear ka,
As per my limited observation today's huge volume trades in nifty spot at 5720.75,5716,5713 & 5698 which made big impact in the latter trading hrs(after 2.35PM),shall have importance for tomorrow's trading purpose too.I shall watch it for even NF trading purpose too.The final Bhav copy for FNO is important today because not much evidence of writing in 5700 CE & Nifty closed near it's DLEMA,reason for me to worry.
Dear Maynac,
As per ventura site, 5700CE is having 3rd highest OI after 6200&6K CE and 5700PE has seen a hugh reduction of 8% in OI.
Wat is you understanding of this. Kindly explain.
Regards
Naveen
Dear naveen,
Today's close 5691
One can take it in this way: The addition in 5700 CE means strong seller has taken a stance to sell here though the close is 5691 & is confident that his selling will push nifty below 5700.
One can take this in another way i.e. Though some one has decided to sell here some one has bought here because he is sure that the selling shall be absorb here & is not yet far away from 5700.
After Bhav copy now it looks that reduction in 56 & 5700 PE & addition in 5500 PE means the buyers are still hesitant here and so did not dare to write 56 & 5700 PE. Though there was buying in NF in last 25 minutes a thin 2.22 lac addition is there. The worry here is cash sell bet.2.35 & 3.05 PM & close near Dlema. The buyers have managed to push Nifty up,almost 40 points,to 5700 after 3.05PM from its low,is hopeful for Bulls. These wild swings are expected because, for both, it is do or die situation & everyone wants to save his castle.Let us see tomorrow.
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