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 ... -
I 'll always be there for you. To make you feel that you're secured. And even if the rain is pouring hard and the sky is almost dark... -
Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor...
12 comments:
Dear all,
One Observation on Daily chart, I just tried 300 DMA and found that last time price went below 300 DMA on 29/05/2008(4835) and it took a year to cross it back on 15/05/2009.
The low between these 2 periods was 2524. That period during recovery Harmonic pattern Bullish Bat symbol formed on daily and on our recent high Bearish Gartley has formed on 04/01/2011.
Good evining to Ilango sir and
all my senior with respect
i am new to Technical annalysiss can any one tell
me which relibal sourse for real time data for nse in
to amibroker,
your bloge is very usefull for me,
god blles u
looking for reply
Dear Sir and Fire,
As per the EW chart provided by dear Fire, Current downtrend is 3.(3).iii from 5556.
And as per rule mentioned, iii should be mininum of 100 % of i.(may be wrong here). if it is correct then, 3.(3).i was from 5801 - 5417 = 384 points and today from 5556 to 5312 = 244 points and to get minimum of 100% need to go down by 140 points which is 5172(may be the next target.
Dear Prabhakar,
Though low at closing is 2524 on 27-10-08 on the same day Nifty touched 2253.
And 5172 is near to Pivot S3m - 5179, CAM L5 - 5183, Fib -100 % - 5174, Gann(SR) 0.875 - 5185.
Also tried EW,(Sir, Pl. excuse me if the below looks unreasonable)
1 - 6312 - 5752 = 560 points
2 - 5752 - 6157 = 405 points (72.5 % of 1)
3 - 6157 - 5312 = 845 points ( 150 % of 1) /
( 980 points 175 % of 1 - 5177) /
(1120 points 200 % of 1 - 5037)
If volatility rises and PCR falls, it has bearish implications.
Nifty Open Interest put call ratio (PCR) is at 1.09 Vs 1.14, and volatility index VIX is at 24.74 Vs 24.69.
Dear Nandi,
Yes. You are correct. I took only the values at close(EOD).
Dear magfi,
You could try ManishRT.
@magfi, the correct name is Manshi RT.
now looks like fii are feeling heat now. they will press panic button ithink. market is falling on its own weight.they were enjoying holiday last week and game played here.if market goes low from here they will be clearly in loss because they have started to buy near 5100 with mindful hedging becasue earlier they were trapped when they have sorted market in may when european crisis occur
@Prabhakar,
Your question has made this night unforgivably long for my very lazy bones. Because calculating targets from Ratio Analysis is a very cumbersome job (very rewarding too, I know). So I was really piggybacking on Master’s analysis. (As usual). But this time decided to check my own status of learning too.
This would be a very long post and my calculations could be totally wrong. So, to play it safe, i am sending my analysis to the Master. If he finds it ok, then he can give us the salient points. Hope you will understand. Otherwise, he may ignore it totally and we could be free from a barrage of mind-numbing numbers...:D
Master,
please check mail at your convenience. (And please ignore it if it seems more convenient :D)
beautiful bullish wolfe wave breakout target of 5315 achieved
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