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...
93 comments:
Tigar: Nifty might close above 5400
"More pain in store, not crossing 5277"
Sir posted this on FRIDAY, FEBRUARY 4, 2011
will be useful for you
How to use the Tech.table numbers for trading: I have shown below in the chart. There are no "fixed rules" here. Read the earlier post on it by typing in the "Search this blog". It is a good reference table. Once you understand the undercurrent of the market: downtrending, down & getting exhausted, down& exhausted& signs of bottoming, down & bottomed, reversal to Up, UP & overbought and so on.
In a sideways market namely consolidating during uptrend or consolidating in downtrend or pausing to make its mind about reversal, the Low Ema and High Ema range gives you tradeable points.
ROC(Rate of Change): It is another momentum indiactor. It is as good as any other indiactor with its limitations. It reflects divergences quite well. 12 period is a classic number. Though I have used it extensively earlier, I have found macd & stochastics combination to give the required direction.
EW Counts: Remove those words of "Proving me wrong" - no seroius trader will get into that kind of act. No labeling is etched in stone. We use labeling as the market unfolds to put it in perspective. As long as the market moves on expected lines, the labelling remains and the moment a deviation occurs, it alerts you to the alternative scenario. It has helped us tremendously so far and it'll continue to do so in future as well. There are many traders who are quietly doing it with great amount of success as long as they remain grounded with a strong sense of self-belief.
No method works 100% of the time. However, identifying different method at different times maximises your gains.
FRIDAY, FEBRUARY 4, 2011
Thanks RainMaker. Looks like no buying interest. May be
only technical bounce...
Is market offering multiple buy opportunities at 5220-30 range ?
sir & family
gm..
even if shorts cover the algo sellers coming at 3:00 take things away
Ilango sir, Vix above 25.7....
thankyou sir.
GM friends. Have a Profitable Trading day
Good Morning Sir and Warriors
Suresh you can also check SIR's Detailed poste of
how to use Tech Table on THURSDAY, JANUARY 20, 2011
hi fire,
can you post the updated version of the fractal chart that you posted on tuesday?
Regards
Girish
RIL & SBI precariously close to their downmove lows, break below those levels may create the final low
@Rainmaker
Today is only buy oppurtunity with some strict SL beween 5150-5190
Nifty not able to break yesterdays LOW ?
sbi..leader down
Ilango sir, this 5277 is channel top??For learning only.
@PowerTrade,
Happy Birthday dear............
i think today is it.....??????????
-garuesh59
Nifty future still trading at Rs20 premium...
Mistake ...20 point premium to underlying
gm sir and freinds
From morning 5227 is supported, break of this may give downside.
@ bizagra - master's statement few days back -
We have seen in the past on many occasions, a reversal attempt, if any, will be revealed if market is able to conquer the previous hour high or 2-hour high. The same goes for day T/f: Previous day's high or 2-Day high.
Keep them in your guide posts depending on your time frame.
so 5277 is hh (2 hrs)
5220-30 range becoming fragile,bulls may find it difficult to protect this range,any break below this time may see test of 5177-5183 range soon
Had Any One Tried Money Flow Index With Parameter
Of 5 days ..
Nifty reacts When MFI is At 0.00 or Above 90
i guess markets may make its bottom near 5075 NS range by next week,most probably on 17th feb which is an important turndate
And Yesterday MFI is AT 0
@mk, thanks..
intra day..we might get a bounce till 5289 +- 10 points.
Low Boken
@Girish,
here is the chart ---
https://picasaweb.google.com/yinyangfire/FIRECharts#5571924815766463746
As the master said, this time the moves are larger in comparison. Still, we can take it as a reference and expect, combined with other technical evidences pointed out by the master himself, a minor bottom may be close by. Maybe a 300 points rally from 5150-5200. Then caution again for the bulls near 5550 levels. This is my personal understanding.
@gauresh
Thanks gaurang bhai .. Its today only ... Thanks a lot again
RIL takes us to new intraday lows, now its SBI to create a fresh low in the next hour
@ Powertrade(Nimesh),
Many many happy returns of the day.
happy b'day powertrade.
""One View: Last fall from 5440 just finished 4.c and 5.5 is on. To end with a new low.."""
sir long in?
pt..hppy b day pa ji
@Nimesh Bhai
Many many happy returns of the day.
@PT,
Happy Birthday brother! May you guide & teach us for many many years to come. May Buddha bless you.
Dear Powertrade, Wish you A many happy returns of the day!
Many More Happy Returns of the Day, Nimesh Bhai.
Dear PowerTrade!
Many many happy returns of the day, Happy Birthday to u & best wishes too.
Kumar
@Illango sir ....
Thanks a Lot Sir ...
@Kumar ...
Thanks a lot
@Prabakar
Thanks dear
@JN Family
Thanks a lot to all my JN mates for the wishes.
@ powertrade happy birthday. are you in baroda?
@Dakshit ..
No dear am at Halol on the Job
PT - Echo Ilango
Good morning Ilango sir and all,
Happy birthday Power Trade - (Nimesh)
Good morning Sir and friends.
Nimish bhai, Wish you a Very Happy Birthday.
5202 NS may be the next support.
@ PT:
Many happy returns!!
Hi PT : Many many more happy returns of the day. God Bless You.
(u need not thank us. It goes without saying).
Many many happy returns of the day, PT
Hi dear sir Ilango,
can we buy to attempt bank nifty at this level buz nifty touch the
low of 5210
regards,
Alpesh
Dear PT,
Wish you many more happy returns of the day.
Hi Good morning to all
PT ,Many many happy returns of the day,
Bought- Aggressive trade.
VIX....26.07...???
probable low mentioned by sir 5206
low made 5210 & nifty bounce back ,
HATS OFF SIR
but, vix 26.03 , isnt it a concern ?
@ PowerTrade,
Ohhhhhh.......you address me as Gaurang.......but I have forgotten it during last few years due to stock market.....!!!!!!!!!!!!!
Thanks for reminding of name..!!!!!!
-gauresh59
Sir what will be stop for the aggressive long?
Ilango sir, above 5277, sud conservatives also reverse ???
Dear PT, Wish you a very happy birthday, may your health, wealth & knowledge grows faster than you.
God Bless!!
Sir can you please mention the SL?
@ Rochak,
When you try to "Catch the tail of the tiger", it is quite scary. Know your risks and manage it properly.
OR Wait for the tiger to "lose consciousness or die" and then capture it.
Upto 5160, buy in small quantities.. Below 5157, bigger falls possibility continue to exist.
we have made last bottom before 5350 was at 5210 nifty stop exactly that level
Dear sir,
Is in five minute chart, MACD(12,26,9) and Slow stoch is in positive divergance? is it your basis of agressive buy?
@ Satheesh,Bizagra,
5180-5220 - the buy area with 5157 as a SL.
Important: Do it in small quantity only. Add to it once TT starts to confirm the buy.
Conservative & JNSAR Short trades remain.(Part booking is ok)
@Nimesh(powertrade)
Happy birthday to you.
Every year that passes is another stepping stone to greatness.
Thanks sir
@POWERTRADE
Happy birthday Nimish bhai
Bhagwan aapki brokerage half aur profit double kardey during this year!
GSK :)
Nimesh,
Happy B'day!!!
Mr.Rain maker,
what is the basis for you to say nifty will close at 5400 today?
sorry for the calls..Go long for target of 5290-5322
5227 NF broken so but obvious target is 5169 ... Mayor may not be reached
@LLANGO SIR. when we were hovering arount 5300 to 5400 in augutst it was continue to buy on dips market until 5180 hold. now will it hold? below that trend will change?
sir means can we buy with 5175 sl
Nimesh Bhai
Happy birthday !!!
dakshit
please read sir's message carefully
he has clearly mentioned the stop loss, then why to bother him unnecessarily
Its a very high risk buy trade. 5300 call OI up by 13 lacs and 5200 calls by 8 lacs +
many stocks reached may 2009 lvls(before circuits)
and june 2009
market going one way down and not even giveing any meaning full
bounce and tomorow is the iip data which is expect to
be neagtive and vxi at 26 is this all showing that market
know something which is going to come ........
Seems like bottom has been made now ...Agressive buy raking in profits .... I wish this agressive buy gets converted into conservative buy
Ilango Sir, Please update on to cover the longs taken at
NS 5212
@PT,
Even BN bought close to 10000 levels specified by master is giving nice profits. :D
Thanking master, I will be leaving early today friends.
Bye...
pt..
conservative buy n iip no.s if good
@manu
Even iip is expected -1% this time so any positive factor will be a good bounce in Nf
Dear PT,
Wish you many more happy returns of the day.
belated though, just returned !
RainMaker
NEW POST DONE.
pt..positive factors?
where?
at 3:00 pm u will hear some news again..
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