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...
77 comments:
Ilango Sir,
can we have below possibility:-
A = 649 points (6339-5690)
B = 491 points (5690-6181) i.e. 76% of A
If we take C to be 1.62 of A then can we expect C to be around 5130.
(649*1.62 = 1052 points)
C at 5130(6181-1052)
pls guide
there is also trendline support around 5130
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Sir, Please give your comment...
TOT amit
thats right is it possbile, that C can ends 5130-5080
I am occupied with some works.
Take "5230" as a buy trigger for the day. OR if you buy here, keep 5155 as SL.
Trade.
@ Amit,
It is a possibility considering Oversold conditions. But OS alone can not be conclusive.
"that C can ends 5130-5080"
BEE : Then D will take it to 5079 - 4963
then E .......
then F .......
What will take it UP?
(just LOL).
Closing below 5150 today will ensure breaking that trendline support, closing below 100 WMA (only 2nd time in 8 yrs) and early weakness next week will ensure that NIFTY DEATH CROSS occures (50 DMA below 200 DMA)
DEAR ILLANGO. one chart that people miss is NIFTY IN DOLLAR TERMS, taht chart is important as this more a FII led market, NIFTY IN DOLLAR TREMS HAS NOT TOUCHED 6350, so does that change the fall levels retacements and all, can you throw more light on that!
RG: placed couple of buy order now, let us see if it give some support to the market and takes it UP ! lol !!!
RainMaker
HOLDING ABOVE 5200. BUY?
Brought nifty. Please specify SL & Cover?
Dear all,
27 lakh addition in 5200 call today. Can anybody throw some light?
@Rainmaker SL & Cover ?
Tiger,
SL - 5149
Better to wait for Hour JNSAR to initiate longs for intra
Dear Kumar,
Do you still hold ur views of buying @ 5500 and forgetting till feb end ??
regards
@Tigar
I m long @5186 NF and keeping days low 5175 as SL.
Tigar SL: below days low and tgt 5226 > 5247
my buy is @ 5195
Dear Bullish Cartel
Will you explain impact of increasing dollar value in respect of rupee and how fii will react
long can also be attempted here with SL 5197
THANKS. CAN SHORT NIFTY IF DOESNT BREAK 5240?
yes but keep the SL above 5247
but I believe above 5228 it should give a good run up on the upside.
Fire : could you send the PDF file to Sir? Will help learning your beautiful system of ratio analysis.
Rain Maker : Thanks for taking care of the budding BULLS.
Dear Inalgo Sir & blogmates,
I want to propose one very simple method of intraday trading,which I am observing & following for last few months.Which is reaaly very helpful in uncertain markets.
No fundamentals,No technicals are required for this.Only our great rajendhran sir’s www.nsetracker.blogspot.com is enough.
It gives a great opportunity to re-enter at correct levels after booking profis or if you missed to enter the trend in the starting point.
I need all you feed backs & observations.
I am really thank full to Rajendhran sir for his great work.
The metod is as follows.
Open the above chart as soon as mrkt opens, press page down button for 3 times. (http://www.epicbrowser.com/ is better to fix it to 3rd page always rather than explorer).if you see 200 line above 49 line,as soon as blue candle closes below 49 line, short nifty keeping 200 line as stop loss.
If 200 line is below 49 line,buy nifty as soon as white candle closes above 49 line keeping 200 line as stop loss.
Profit booking can be done in the ranges 20- 30 points.
After profit booking, wait till the price touches 49 line again to re-enter.
Today it has given a opportunity at 10 A.M,11.10 A.M & 12.50 P.M
RG: How can I ? I am still a new born calf !
@ RAINMAKER, BOOKED PROFIT. INITIATED SHORT @NS5225
Dear Mohan,The point i was trying to make NIFTY is dollar terms did not touch the 2008 high 5600 Nifty (dollar trems) The high this jan was 4950, so thats a big positive as the retacement levels for a triangle pattern like that would be roughly 50% and not 61% atleast like it would have happened in a flat pattern
Sir,
Rochak is online with me on Ymsngr & saying he is facing difficulties in refreshing JN from morning.He requested to convey this msg to you.
illango sir good afternoon . sir i had buy nifty at 5600
now i had avg it at 5215. sir pls suggest any other plan
if any thanks
As per Rochak: HCL tech & BOSCH , are two good stocks that are showing resilience to the downside pressure, in this type of markets. Medium to long term investment can be considered in these stocks , keeping the closing sl of 448 on hcl tech & 5900 on BOSCH. preferably, bosch is more stronger
RG,
Will Friday spoil the party?
Is it a part of the dead or wounded?
Plz bother with me..as I'm posting Rochak's msg which he is telling me on Ymsngr to post here.Sorry...if it is confusing for you all.
Meaning full pull backs sustaning would be only above 17565 on sensex.
Hi CK. How dee? Either Last nail or First Seed.(Last rally started with a Pre budged Friday trend reversal. The Optimist never gives up Hope).
Dear Amirishali,
It is not only RP sir, i am also facing the same problem from morning.
I tried many times and now i just restarted the system, after disconnecting my net connection.
Fine RG. Was occupied with some travelling.
Keep an eye for my friend's predictions.
Optimism is not just being bull :)
Nifty has reversed but TataSteel (Lead Indicator) is showing no sign of respite
@ fire what is about bank nifty its leading recovery?
every body wants to short market utilising every bounce. scary thing for bulls who stucked at series started at 5620. i remember i also bought 5700 call that day but breaking 5550 i sold call in lass and bought 5500 put today it is 300 thankyou llango sir
by looking itraday chart 5230 nf should hold for upmove?
bn has just crossed yestrdays high
Bull a Bull ! just take out 5273
RainMaker
@LLANGO SIR is this bounce was due since morning vix low was 21.93
@Dakshit, Morning When you mentioned vix 21.91, actually VIX was at 24.57.
I type that time itself, but due to browser/connectivity problem it was not posted.
As per ENAM RIL at these rates is v good and should be the star performer in 2011.
Reliance has formed a DB on daily charts one can long, if closer to eod, it remians +ve with SL below 885
above 947 it can go all the way upto 1050-1100
come on bulls ! next hurdle 5323 today itself !!!
NIFTY LONG SL TRIGGERED
17650 sensex
Tigar when did you short ?
and why so ?
AT NS 5250? HOLDING TWO LOTS FOR SHORT STILL. HOPING FOR
CHANGE AFTER 3PM
TIGAR read the master's post
Take "5230" as a buy trigger for the day. OR if you buy here, keep 5155 as SL.
Trade.
@RAINMAKER, STILL CONFIDENT TILL NIFTY DONT BREAK
5300 SHORT SELL WILL TAKE PLACE AFTER 3PM
Thanks RG - you made my day,
Apologies, if my earlier statement sounded bad.
That was what I was telling myself :)
BOOKING PART PROFIT
Not at all CK. Again an optimist is a speeding car who needs lot of Speed Breakers. Dear PS is the first. You are the second. Welcome to the Cautious Clay club.
rajagopal sir i had buy nifty at 5213 can book now or wait
for more gain
Sir taught us a basic mantra Soha - "Part Book when in good Profit". Monday may give us another 45-55 points.(If 2G,3G and Haan ji's are at safe at home).
Good one RG Sir.
Any one tracking Tata Motors? any views pl.
RG sir kya aab 5308 ke baare ha
If closes above 5373 its going to be bullish engulf on eod. if it could manage to close above 5310. 5439, 5640 is in sight. Amin !
nifty crosss r2 enjoyyyyyyyyy
inches by inches, it is covering kilometres...
Bank Nift SAR triggered..Future Level to go long 10470
5300 call unwinded, all todays build up..
5200 call writers seems to be getting caught..unwinding going on but slowly...
Reliance JNSAR - 924
currently @ 912
Went short in the morning at 5225(nf) & came out at 5205,again went short at 5200 & booked loss at 5265 & took buy at 5265 & holding as per 7,49,200 nse tracker chart.
5400 to 5550 levels possible on Nifty now, another low possible from these levels.
Dear Sir and Fire,
NS supported at 5177.7, and retraced back. Could we say that 3rd down is over and 4th up started.
@Dhaiksuchi I am still holding nifty short
@prabhakar 5416/5402 is the invalidation point of
3rd extending. if we touch 5402/5416 we are in 4th
which will retrace 6181-5177
Earlier IIP data was terrible at 2.7%, published on friday & the
same day market rallied. The selling again resumed from monday
Master Ilango Sir is it possible the same trend may happen from monday?
Ah, finally I'm able to see the site! Got really worried when Bramesh RT Charts and Just Nifty went down. Only later realised it was all of blogger.
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