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...
15 comments:
IS IT MAKEING LOWER TOP SO NOW NEW LOWER LOW HAS TO BE MADE
I THINK 5500 LEVEL COULD COME AND FORM THREE A BUDGET RALLY TO 5950 IS POSSIBLE .........ANY VIEWABOUT IT
Sir,
I am very late today due to my domestic work. My today's trading observation – Each and every hr weekly LOW EMA is hardly tried it’s level best to hold, but not.. that’s a good observation “if anybody is trading on weekly basis”. Yesterday hourly LOW EMA protected + Monday’s low not breached the whole day it was managed on upside. What I am trying to say is “not about success rate” – try to observe on your own and learn . Hope Sir and blogmates will not object this. If anybody taking in wrong sense “my sincere apologies in advance”
Today’s Cam level short is 5740 nifty retraced almost 5741 38.2% weekly level. Important is TT Weekly Low EMA 5742 is not able to protect (HOWMANY OBSERVED THIS???) + today’s FIBO R2 is 5745. simply one could have taken “short” with SL of JNSAR 5771 easily that is the coincidence with 30 week sma 5777. Step by step one can “watch the EMAs’ how it’s reacting at ‘certain level” . But market will never move in “one way” means “the same type of market” . TT is always useful “whatever the situation is “ “how v r thinking , reacting fast, implementing fast” is the BIG “Q’. I didn’t deny still I am learning and still I am doing mistakes :D :P
Happy trading day to all tomorrow.
Regards
Ilango said...
Note the HLEma is trending up and moved above DLEma - another step UP.
January 19, 2011 11:04 AM
Sir,
What is the significance if HrLEMA move above DLEMA? Is there any other important HrEMAs & DEMAs relationship?
@Sujatha
'Weekly LEMA' is really good observation.
dear sir,
sorry for putting this link.
http://dinamani.com/edition/story.aspx?&SectionName=India&artid=363147&SectionID=130&MainSectionID=130&SEO=&Title=
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
Thank you saravanan for the link. Still honest people are there in the country. He spoke all these in "Thuglak's anniversary" recently on "pongal day".
Dear naveen,
Tried to understand above development as per my limited knowledge in intraday update-III.
Has Dow forgot the relation with S&P 500 now a day? At present S&P minus 9.32 points & Dow minus just 8.55 points?
Nifty closed both below 5 Day EMA and 30 min 5 EMA. Now, whether nifty will go further down or end it's correction depends upon 5625 level. VIX has come down substantially from it's higher level and I think a saucer pattern is building up in 30 min chart. So, there is high possibility that nifty will take support near 5625 and can move to higher levels of 5830, 5870, 5905 or higher. But as of now bear is in full control of nifty as OI in options are suggesting and nifty has closed below most of the technical indicators except
for long term indicator, 200 Day EMA. So, I think long positions can be taken in nifty at 5625 level with stop loss at 5590.
Dear Mynac,
Thanks for your reply.
regarding US mkts, this has been the case since Oct 10 and for more than 6 mons if u compare Dow & Nasdaq.
regards
naveen
WHAT TO SAY ABOUT THIS WONDERFUL BLOG...all her helping each other.
Thank you Sujatha madam for your analysis...
regards,
prabha
mynac,
Dow's weightage is based on the price of each scrip. So a scrip like IBM which trades above $100 carries a lot of weightage when compared with another scrip like Bank of America which is trading under $15.
http://finance.yahoo.com/q/cp?s=^DJI
Because IBM is up 3%, it causes a disparity with S&P 500 which is market cap weighted.
and therefore, IBM has lesser weightage in the S&P 500.
As per this link,
http://indexarb.com/indexComponentWtsDJ.html
IBM is having a weightage of 9.63% on the Dow. IBM has a weightage of less than 2% in the S&P and therefore its price appreciation has a lesser impact on the SPY.
SR, I just noticed the huge harvest moon this morning (Shankranti, duh on me) or I wouldn't have kept my longs through it. I hope it won't bring the market down today.
Thanks Dear Nifty,for this information.
Asian markets in the red,SGX trading below DLema threat for 200 Dma?
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