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...
61 comments:
@ manoj bhaiyaa= m long again at 5453. sloss 5446
"5452" is the 61.8% retracement of today's rise from 5416 to 5509.
If 5416 to 5509 is "a", then a "b" wave may be on trading between 5450 to 5510(approx) to be followed by a "c" wave to end around 5562 - this will coincide with time correction too.
Deepak Bhai!
Very good aur humne bhi apni sari call cover kar li, morng ki 5430 wali Nifty abhi long hai.
Manoj
manoj bhaiya= sustaining above 5473= NEW HIGH NOW
Few years back I asked my teacher : "what is the most profitable thing to trade; cash market, stock futures, Nifty futures or Nifty options?" He answered : "you can trade whatever you are comfortable with and whatever you understand the best. The most important thing needed to make profits is trading the levels. This cannot be over emphasized. 75% of your trade is done if you can enter a trade (long or short) at the right level. After that it is just following the trade and exiting gradually. Most money is lost by entering at the wrong level. Then you end up spending money and time trying to make up those losses and in turn losing more."
@ manoj bhaiya= technically i m long at 5453 only
bcoz of S1, nahee toh aur koee karaan naheee hae.
yae tutaa= 5407-5386 aayaegaa
Manoj / Deepak,
A special request is made not to keep on disclosing your trades here. As the purpose of this blog is to learn and share the methods (not trades). So please don't take it otherwise.
Sunil
Sunil - request you to take a lenient view. What was suggested is not to "boast" about trades - our above friends are very deft in their 'raids' and I would request you not to object. Such tactics discussions can be welcomed in my opinion, since they talk with reason and conviction.
Sunil Ji!
Aapne bahut achchi tarah se apni baat kahi hai so sar maathe par, lekin kripya aap bhi bura na maane aur mujhe samjhaye ki learning karke koyi hume safe me to nahi rakhna hai...us par apply karna hai aur us se trade karke kuch kamaana hai. Yahi baat hum sabke sath share karte hain jisse kuch aur log bhi faayda utha sake. Agar trade disclose karne ko aap mana karnege tab to 50-60% logo ke comments yahan ban ho jayenge...kripya prakash daaliye bhai ji.
Manoj
@ sunil= no hard feelings felt sir.
@RAjagopal sir= Thankyou
Dear RG / Manoj,
I withdraw my request. So please continue. I am happy to learn.
Sunil
Thank you Sunil. Just picking up threads from these 'fearless' Gajnis.
Yes very true, very fast trades they do.
@manoj bhai= savdhaan bhaiyaa.
@rajagopal sir= hahahahahahahahahahahahah. GAJNIS???
Manoj ji please continue posting ur trades and comments u have a unique style
In the 5 minutes chart, the downmove has 5 waves. So, is it possible that it is not B?
@manoj bhaiya= S1 breached at 5452= careful. Onlyly above
this= still up. if not watch out for 5407-03-5386.
5407/43 is 15EMA monthly basis
5EMA and WMA 10,intraday r sitting at 5468-72 levels.
Beyond this= there will b no resistence till
5512/15. Above this = 5536
RajGopal bhai ji!
Genuine moral support ke liye thank u sir ji.
Dear Jay shah bhaiya ji!
Aapka bhi thank u humare style ko pasanad karne ke liye.
Manoj
@ FIRE,
Read it as "abc-x-abc" - it might fit in.
Ilango Sir,not sure whether posting stock technicals is okay in this forum but in case it is....do you hold any views on Bharti Airtel stock.It seems to have done an Alternate ABCD PATTERN IN DAILY CHARTS.@ 314.5.if so target of 340+ cannot be ruled out.your take on this would be valuable
Sidharth
@manoj bhaiyaa= aap nae dekhaa maera 5468-72 level???
Dear Deepak!
Humne aapse morng me bhi kaha tha ki aap apna time horizon candle ka badaao, warna whipshaw me stop loss katega aur aapke broker ki Balance sheet fatty hoti jaayegi. Maine 5445 me 5500 ki calls plus ki hain...5500-5510 ke aas paas bechoonga.
Manoj
Master,
But isn't X also subdivides in 3 waves?
@Rajagopal Sir= Was I correct?????
Carry on Deepak. Market is the "examiner" - so far you are on its right side. Ride/raid with CARE.
15SMA and DMA intraday sitting at 5517 now currently
that will b the resistence now.Support currently at
5476= WMA 10 intraday. LAst intraday support at
5452=S1
@rajagopal Sir= i m very careful with my trades=
buy at ANY support,sell at ANY RESISTENCE
Ilango,
You made my day.
Thanks to your Wealth blog, I squared off my BN short @ 10445 this morning, as the 10375 support got held.
Then I shorted it @ HLEma = 10,638 just as the Nifty rally screeched to a halt at 5507 retracement.
Having shorted BNF @ 10,638, I squared off at 10,500 once I saw the possibility of 'c' retracing upto 5562.
I gained more than 300 points in the BNF today. And BNF is already up by more than 100 points now.
Can you suggest where I can go Shorting it yet again.
Thanks
Dear Deepak!
Bulls Nifty ko 5530-40 se upar close karaane ki poori kosish karenge, Ye aakhiri 30 min toofani ho sakte hain.
Manoj
My pattern is this= within the 1st 2 hours,try n
accumulate as many points profit as I can.Then enter/
sell at key levels with 5-7 point sloss only
Oops blooper. Make that 10,638 as DLEma
Now if NS stops here and breaks 5443, that could be a Continuation H&S. No harm in dreaming. :)
at 5451 future= 60 lakh nifty were added on the long
side. Any1 can confirm??????
Nahi Deepak bhai, 2-3pm full hour ka volume 52-53 Lakh hai so aisa ho hi nahi sakta.
Manoj
Friends, after many months probably, nifty is going to close below monthly LEMA 5537 today which could further strengthen the BEARS. BULLS trying to pullup the market. Still 20 minutes to go.
@ nifty,
5530-DLEma & 5537-MLEma are the two levels, Nifty will aim for the day if it crosses 5509.
Only a close above DLEma will give a "Pause" signal.
@manoj bhaiya= alll longs coverd bhaiyaa. Jai ho
Deepak Bhai!
Kaha tha na ki aakhiri 30 min toofaani ho sakte hain, meri 106 wali call 139 me nikal gayi...15 min me nifty 50 points up.....
Manoj
Master,
Again followed you and sold NF@5544.5 as there A=C.Thank you.
Lead Indicator positive me ho raha hai ya ho gaya hai, koyi confirm kar sakta ho to pls bata de...ye Nifty ko easily 100-150 points upar le ja sakta hai.
Manoj
Nifty Futures intraday update: CLICK HERE
Ilango,
Thanks. I already went Short again @ 10,703 on the BNF. I just could'nt resist booking a huge 150+ point intraday gain. I guess I will latch onto my positional untillJNSAR triggers.
@ FIRE,
There are many possibilities of this corrective bounce. I will put up the possible labeling this evening.
Till the signal is not emerging, staying short on every rises is the prudent thing to do.
Trading part of the positions as in aggressive trade adds value.
as a caution do not carry long here. because crude may bounce because of egypt unrest. bye everybody
@manoj lead indicator given buy as sir puts it
Master,
For possibilties, I depent totally on your labelling. From EW, I have taken some simple, but very effective for me. e.g. -
1) If it is a 5 wave move, then that's the main trend and any 3 wave move is the counter trend. Taking positions in favour of the main trend lets me escape unscathed.
2) 1st & 5th are equal, especially if 3rd is big(extended).
3) 3=1.618*1
4) A=C
5) B=61.8%-78.6% of A
These works most of the time and in perspective of your exhaustive analysis, I get able to make money. BTW, all of these are gleaned from your lessons only. :D
Thank u Piyush Bhai......
good afternoon sir,
any pull back has seen gap down opening on next day. what is the possibility of gap down opening tomorrow? another thing, nifty is holding an important level of 5508. what is the possibility of gap-up opening tomorrow?
Bye Sir. Bye Friends.
Yes Dakshit - Crude may want some reason to bounce before Wed inventory report.btw Egypt is not in the top 10 crude exporters, still....
I should write --- these works MOST of the times, NOT ALWAYS.
On an EOD basis= if spot closes above 5509,
= 15SMA ( daily basis) it will
be a bullish pattern for upside for now
Egypt Protests Negative for Growth: Nouriel Roubini
CNBC.com | January 31, 2011 | 04:17 AM EST
Risks that the troubles in Egypt may spread to other parts of the world have increased and the uprisings have a negative effect on growth, as well as contributing to higher prices, economist Nouriel Roubini, chairman of Roubini Global Economics, said Monday.
Egyptian protesters were camped out in central Cairo Monday, demanding the departure of President Hosni Mubarak, who has ruled the country for 30 years.
"There's already political contagion from Tunisia to Egypt… geopolitical risk is on the rise," Roubini told CNBC in an interview. "It has a negative effect on growth or rising inflation. All this is not good."
But he added that the situation wasn't as serious yet as to lead to another recession.
"Even if in the past recessions have been associated with oil price shocks caused by geopolitical risk… we're not yet there but rising oil prices, risk aversion, these are all negative for the markets," Roubini said.
The protests could spread to countries such as India, Pakistan, China, even in Latin America where "a regime such as Chavez's may be challenged," he added.
"The price of food is rising around the world, the price of oil is rising, in many countries this is a shock to income," he added.
@ Deepak Bhai, Nifty closed at 5503.9 below 5509 below 50
SMA... I covered my long.. Will see how the nifty behaves
tomorrow... Deepak please share your view
Tomorrow may be another day of Whipsaw....
@Rajagopal
Egypt may not be one of the Top producers of Oil, but they control the Suez Canal, don't they ?
Market is testing the highs of previous major consolidation zone
News is quite bad. Think we can expect a decent rally from here with stops below 5380 on a closing basis
Accepted Nifty - as I mentioned Crude has to go up a bit before Wed and anything could be attributed as reason. Most of the oil transport is thro under ocean pipe lines that crude carrying ships. But crude may show a run before..
@ Tigar= kahaa thae bhaiyaa. had a great day. Do
not want to sound like a hero here. To me = 5403-07
zone ( 15 SMA monthly) will act as a support. i will
give it upto 20 points on the lower side below 5403,
and if then 5403 holds= will go long. lets c what
happens tomorrow
@ Tigar= also remember,if mrkt wants to slide from
here= it will close all gap up openings, which it
certainly did 2day, and the vice- versa is true
if mrkt wants to move up. Mrkt will b volatile from
here on especially on an intraday basis.
@ manoj bhaiya= please b carefull
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