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....
-
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...
72 comments:
sir ty v much i bought at 5435 and sold at 5460..agin thanxs a lot
illango sir i had buy 5445 can i sell at 5470.
@ Prashant shah,
You are a true intraday trader.. :)
@ Suresh,
Aggressive trades may be traded off regularly. I don't update so much on them. Use TT; Premarket trading levels & the chart.
Good Morning ALL
at 10.am nifty not closeing above DLEMA so i think this hour also sell on rise
i mean DHLE
thankyou sir.
I am new to market
what should I trade for the best and consistant results.
@ Soha,
I have suggested that a bounce is on based on Pre-Market's chart - "iii" wave completing.
How much it can bounce..?? 5484 morning high or a bit more..
Anil Thanks. It is nice to note that FIIs want to buy !!!
prashantbhai and illango sir, Please confirm whether I
am having some problem. When sir gave the comment about
40 point rise i saw it at 9-54am. Sir's comment shows
made at 9-52am at which point Nifty spot was at 5450.
When I put in the trade it was 9-55am at 5447.
Prashantbhai how did u catch it at 5435?
@ Suresh,
If you are new to the market, my sincere suggestion would be to go through the study materials here while watching the real market action with your growing understandings based on these studies.
Learn to understand the market and its dynamics in your own way and never rely on another's views except as a referencing only.
In the meantime, you may attempt to base your trades in a very small way on JNSAR(Daily), updated here.
Grow in confidence...learn patience...pounce on opportunities...dare when most fears..and become independent.
@ Ranipatel,
Prashant shah may have thanked me not for buying @ 5435 but for suggesting a bounce is on..
My remark is based on that "You are a true intraday trader".
Grow in confidence...learn patience...pounce on opportunities...dare when most fears..and become independent - mm.. கிளிக்கு இறக்கை முளைச்சு தானே சாப்பிட ஆரம்பிச்சாச்சு சார், நேரம் கிடைக்கும் போது தாய்வீடு வந்து போகும் நன்றி மறக்காமல்
நன்றி. வணக்கம்
RANI ... i bought at 5435 then aftar sir coment... so my buy confarm by sir thats why i says thanxs a lot sir..
Grow in confidence...learn patience...pounce on opportunities...dare when most fears..and become independent............
many many thanks for these golden words, sir
really proud to have such type of guru
-gauresh59
oh ok.Thanks for the answers. was wondering whether you both had
mental telepathy :)
5500 call add 7 lac and buyer is v strong m just waiting to confarm when nifty cross hour low ema then i buy 5500 call
nifty seems to be in a contracting triangle on 2min charts/line charts(google). If third high is lower high then we may breach todays lows. Negated if third high is above 5470.
ADVANCES < DECLINES
NIFTY FUTURE : BUYERS > SELLERS
NIFTY TRADING IN AVERAGE & VWAP
VOLATILITY CONTINUES
BETTER TO TRADE BOTH SIDE
SMALL 'N' SMALL FOR ENTRY AND EXIT
earlier i used to login by the name of sai using aol.
SIR,
VIX index @25.92 any special comments..
Thank you Sir !
I have gone through study material and every thing.
but lacked confidence to trade.
Because the first time i observed and there was big whipsaw !
This is the Best advise that i have ever recd
Thank you sir thank you.
prashantbahi just a view nf may bounce above 5500+ today or tomorow and maybe then again break lows and go to sirslevels of below 5400 this week due to expiry ur view prabhu?
@ Girianay,
VIX above 26.0 is bearish for the markets..Use it as a reference factor to support the current weak prices..
Thanks sir
5500 and 5400 calls has 7.5 lacs and 4.4 lacs(app) OI today and 5300 puts 3.3 lacs plus OI. We may trade in that range.
sai
sir,
maybe the triangle developing is the 4th?
Dear Ilango Sir,
JNSAR will trig if we break and close below 5437 or will it be at 5413. Pl suggest.
THIS IS TO SIR.
I HAVE OBSERVED ONE THING THAT STOCKS WHO HAVE CROSSED
LAST 2008 HIGHS OR WHICH HAVE TRADED LIFE HIGHS .
THE DAY IT TRADES LIFE HIGH AFTER LONG PERIOD
OR MORE THAN 2YRS. THE STOCK IS GOING TO DOUBLE OR MORE
ITSELF FROM THE LIFE HIGH PRICE.
FOR EG: PNB, BANK BARODA, LUPIN, BHUSAN, LICHSG,VIJAYA, UCOBANK, HEROHONDA, ETC.
LOTS OF STOCKS IN B GROUP.
prashantbhai bought nf at 5462 small quantity
Sir Can We aggressive Short @ 5430 bcoz JNSAR is 5437 or Below 5413 Y/day JNSAR
JNSAR for the day is 5413.
"5437" is a developing one for tomorrow..
@ PS,
5440-5470 is a small trading band presently..
Operator,
JNSAR for today is at 5413.. applying 0.3% filter it comes to 5397.
exited nf at 5455 nf sl triggered prashanbhai
I THINK MAY I AM WAITING FOR SELL SIGNAL TO ENTER MARKET
Ravi
Ok Clear my mind I am in long so I will keep S/l 5395 is that ok
jay bhai i just buy nifty at 5455 target 5520 with
sl 5430
Ilango,
In your Pre-Mkt View, you have indicated a Sell for Conservatives between 5495-5520.
What does this Sell really mean ? (a) or (b) ?
(a) Go SHORT: i.e., Sell off the current Longs and establish a fresh Short position
(OR)
(b) Simply Book profits on current Long. Wait for better opportunities in the future to establish a position.
I am guessing it to be (a), but I thought I would rather confirm this.
Thanks
sir,
what i was thinking that probably u wanted conservative
sell in 4th as we expected it to go to highs to
complete it. if its a triangle in 4th it may not that
view i was getting clarified.
Operator,
Breaking 5430 could be better idea.
@Suresh,
on similar lines-DR REDDY,ITC, Glaxo Consumer are good candiadates for portfolio, they look like the new bull market leaders.80% of such stocks & 20% stocks from REALTY & OIL N GAS should be an ideal portfolio.Remember these stocks wont fall to zero.Contrarian thinking can be rewarded as long as its a negligible part part of your portfolio
sir pl update TT table... hourly-JNSAR.... thanks
Thanks for your reply,
Good Morning Sir and Warriors
@ Nifty,
It is (a).
If it is profit taking or part booking, I'll be specific.
This suggestion is based on the negative divergences..It should have come in Friday's Premarket but Shown only for aggressive. Conservative starts after a price confirmation.
@ PS,
One could sell into the currect "iv"th or after another dip, if a bigger corrective upmove opens up as "wave-2".
Also there is this possibility that "the upmove from 5177 to 5599 is a corrective "a" and a sideways"b" is underway to be followed by another upmove as "c" wave targeting 5635 to 5650 around the budget time..and then a deep slide..
Sir - GM. Before the budget is the expiry. Who will suffer the pain? In the larger move it must be the bulls - but the corrective upmove must be having bears who have to cover position. Few words please...
(i refer to your response to PS).
thank u sir for detailed view. and as mentioned in premarket
5390-5400 will be important to distinguish .
good morning sir and friends
illango sir below 5433 can i exit long and short nifty.
AM BOOKING MY PROFIT AGAIN
sl trig
Ilango sir, wht sud b the sl for conservative shorts??
@ Rajagopal,
Feb series has 5614 to 5177 as highs and lows. The middle point comes around 5395 and that is likely to be the tipping point.
Presently favours bulls mildly.
If 5390 holds, it could end around 5500.
"5400" having highest OI is another pointer. If that breaks...bad.
looks like jnsar is gonna trigger
JNSAR 5437 BROKE CAN WE SELL
Thank you Sir.
INDIA-VIX SUPPORTING SHORTS
@ Bizagra,
5535 SL is for the day.
sir, as you mentiond if 5390 holds then it could end 5500..but by that time jnsar triggers right..so shall we take jnsar at the said figure or wait for 5385 around to reverse positions.
Dear Musti - watching Silver march? I posted 50k by the month end when it was at 44k !!!
@ Rajagopal,
I expected a gap down based on the EW..
Due to US mkts +ve, market gave a sell opportunity at the open but eventually made new lows.
The point, often to be remembered is, to trade using external cues to our own TA.
Today is one such occasion that proves that point.
Dear Sir,
Even I have the same question as Gaurav. Can you please clarify?
Regards
Hello Ilango Sir,
Can u suggest how to approach for JNSAR trading on this
EVENTFUL (Budget,expiry)week? Actually i want to start
JNSAR trading from this trigger.
Can i go long in nifty as JNSAR for 2day is 5413 n nifty is @ 5438?
or Shud i wait for 5413 trigger to get hit?
Also is 30 point trigger gud enuff for eventful week like this one??
Thousand Salutes Sir. I remember asking a query on your projected gap down on Friday.
@ Gaurav,
JNSAR being a mechanical system with least amount of our intervention.
You may use a filter of 20 to 25 point if you desire.
I prefer to take the trade as & when it triggers and then manage the day with a small SL and then from next day onwards with a filter for two days.
Sir,
Nifty VIX crossed 26...can it be treated as bear signal? can i trade according to pivot? i'm short from 5580..booked partly at 5434.
thank you sir.
nifty had bounce back from the masters level of 5432.2 .
hold long .
Looks like we are in subwave c of zigzag wave b of correction from 5177 lows. subwave b of zigzag b is a triangular correction. target for nifty would be 5388, as it would retrace the correction from 5177 to 5599 by 50% and also subwave c would be 50% of subwave a (5599 - 5452).
61.8% retrace of wave A would get NS to 5338.
@ SreyO,
VIX is pointing to "Fear".
Pivot being 5500, the possibility of a bounce up remains if it crosses 5464(5DEma) to day's high 5484.
Those are trading moves but the short term trend will remain weak as long as the closing is below Day High Ema.
NEW POST DONE.
ilango sir. Please comment, any faults in the labeling?
Post a Comment