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...
33 comments:
sir,
In the hourly chart, a move above 5442 this hour, should give a breakout
respected i lango sir
PTC-2008 ( 55 ), 2011 ( 74 )
Nevyelli - 2008 ( 63 ), 2011 (93 )
R power - 2008 (89 ), 2011 ( 102 )
Unitech - 2008 ( 22 ), 2011 ( 32 )
rel infra - 450 & 500
rel capital - 270 & 388
& MANY OTHER SUCH STOCKS,
comparing their recent lows with 2008 & 2009 & 2010 , it seems, these stocks have used the recent indices low to makie higher bottoms to their lows at 2008-9-10.
CAN WE CONSIDER THAT the period from 2008-2011 & 6357 to 2252 & then 2252 to 6339 & then 6339 to 5220-5170-5085-5050 can be considered as a consolidation phase to make a base for the super duper bull rally of next decade.
ALSO< nifty have been busy in making higher lows after march 2009 with 3900-4200-4500-4800 as their lows & may be this time a low of , lil above 5000 to even sub 5000 levels can be considered again as a higher low to all above mentioned lows & we march higher now on to make a higher top to 6339.
PLEASE CONSIDER THE POSSIBILITY I HAVE TRIED TO MENTIONED ABOVE & COMMENT.
@Manu ...
Thers always a symmetry in market at highs there is a negative news and at lows a positive news ..
The positive news may be in the making
respected sir,
nifty could not cross, 5250, even this time, after this bounce
@ fire,
thanks for the updsted fractal chart
Regards
Girish
@ Rochak,
2-Hour High has not been cleared yet. That is the least price confirmation.
Below 5210, more weakness..
sir,
bullish hammer appearing in hour chart if 5210 holds, and closes this hour near 5230
asia deep red..eu open will tell d final story
go long at 5210 ns. Chances of catching 3rd wave. Bullish wolfe wave also forming..
strange markets..
inflation down ..no reaction..
onion @2 at nasik..trading halted..no reaction
markets are actually, have not been known to provide opportunities to buy.
& the manner they have been trading now, there are plenty & enough opportunities to buy.
THIS FACT & then
most people, after breaking of 5555 & 5700, were of the views that 5350-5320 wud prove a good buying opportunities & actually there have been a lots & lots of buys in this region if not off late at 5450-5380 levels.
So,t he operators, wud never gonna spare these buyers at 5350-5320 so easily & these operators have always been knowing, that a buyer at maximum have a MTM capacity OR patience for 150-200 points. So, i dont think, ONLY ON THE BASIS OF THE BUYING DONE AT 5350-5320 that, bottom is not at in place at 5180-5150 as mentioned. b coz, 80 % of trader fraternity is expecting these levels as an intermediate bottoms.
SO either this level of 5180-5150 WONT COME AT ALL & we hav finally seen 5196 NS as bottom.
OR
without any respite we are gonna test the reason of 5080-5050 OR in REAL PANIC 4980 also & then there comes a relief rally.
OR
we bounce again 150-200 points from 5180-5200 levels ( as being mentioned by i lango sir ) & bounce back there on to lets say 5315-5335 levels & without giving any opportunity to the buyers at 5350-5320 to exit, we again fall big to 4900-4965 kind of levels to make a higher top to the series of higher tops we hav been seeing since march 2009 ( 3900-4200-4558-4786 ).
Its then a new debate that whether we start a new bull run to cross recent highs of 6339 OR fall back again after a sharp rally to 5800-5900 to fall biggest after 2009, to fill up the election gap at 3600-3800.
But, for the time being, lets concentrate on the levels being provided by i lango sir, time to time & lets see, what markets have in them to offer us.
MARKETS ARE ALWAYS SUPREME>
manu@
onion @2 at nasik..trading halted.
Govt. open export for onion at 850... yesterday days news
Option data update: Agressive call writing at SR 5200 &
5300 & put writing at SR 5000 & 5100 suggest the nifty
may go below 5200 level & will close EOD just above 5200.
Looks like now European market will decide the move on
either way...
@mohan
cnbc tv 18..wholesale market physical
Dear Rochak!
Its good that u r enjoying market again but keep focus on ur health 1st and do not try to sit too much on system, it will increase ur pain.
Kumar
ohhh, thanks kumar
i actually, have been sitting a lot
thanks for caution
i am going to rest now.
regards
today i hope market to cross 5280 or more. in this case critical reversal point would be 5259. if market fail to hold 5259 then journey towards 5125 or 5075 would confirm.
This narrow trading range of 5200 - 5250 will resolve soon.
Main, minor trends are all down..
Manage your trades accordingly.
hangsang - 444
shaghai + 44
thank you sir for your timely alert.
NS struggling to move past 5223 from 12:10 almost an hour now.
This time getting passed 5230-35, will lead to upside breakout...
hi,
Can anyone tell me the importance of the premium in nifty futures?
Thanks
Shazia
fall from 5250 to 5200 is dotted by triangles. A classic corrective wave pattern. It also retraced less than 100% of the previous rise. My view is market should go up today.. Also 5200 was channel bottom..
"5281"- the Day Low ema - Only a close above would neutralise the TA position.
Immediate resistances to the current bounce are: 5254/5277-81.
Sir,
9 day rsi in your tech file is giving positive diversion... but the price has to yet confirm the same...
All..Pls be very careful with longs..5200 calls 14 lacs oi and 5300 calls 20 lacs oi..current rise shud be sell on rise.
@anil,
Only a move above 5235 can give little fast upmove..
i hrd the advice. Covered my longs..
looks like everybody want to short market when it moves to 5250 mark
closed longs. we have 3 lower tops in place with a divergence. Planning only to take a long only when hourly JNSAR is triggered or else.. short again when 5226 is broken again.
NEW POST DONE.
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