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...
60 comments:
@PT,
No, you can't make me work till 5340-65 comes! :D
Good one Fire. Keep going. btw missing Sujatha mam and RG sir.
@Fire
Am expecting the level but 5320 - 5325 has to be crossed first ...
NOW IT LOOKS LIKE EVERY ONE IS WATCHING BUT NOT WANT TO POST
@Indian Trader
True .... Market is checking the patience now
oil above $112...
@ wormwood34
THANKS FOR THE UPDATE
medam!!!
mamta on her way...
please confirm
cnbc showing economic survey
did pranab announced eco survey??
Sir,
where are you?
waiting for you to comment at such type of market condition
As long as NF trades above 5302, we can expect upmove..
if rail connectivity is there every connectivity wil increase in this country...mamata...
after long time crossed 5325 ... hope so this time its not a false break out
@ Suresh,
What kind of comments are you looking for...??
Having fallen sharply and closed below the last supports - Low emas, Nifty is consolidating with a time correction so far.
A close below Weekly Low ema will bring in larger momentum down. Nifty is yet to breach it.
In EW study, it is a "iv" wave UP and market has held yesterday's lows and trading sideways sofar.. 5340-5365 would be resistances.
+ve div is yet to emerge in Hourly charts.
Trade these ranges for small gains.
Positional shorts remain.
Dear Sir:
In pre market view DLema is 5363, then it is now at 5330..even the 5Ema has also changed. this point what one should take 5363 or 5330. I am confused looking to short intra keeping 5 Ema as a SL.
thanks,
Sujeet
Could be a Triangle by the Rule of Alternation.
OOps my mistake Sir, So sorry. Now cached my mistake.
Thankyou Sir !
Ilango sir, seen u hav given same possibility.Thanks
@ Sujeet,
It is fairly simple:
Emas change as per its criteria such as Low ema changes as per today's low which is clearly established as 5264 and accordingly the new low ema for the day is 5330 till a new low is made.
Similarly High ema will change as per the new highs made during the day and as of now the DHEma is 5432 which is not much relevant currently as it is quite far away.
However, the close ema number will be known only at the end of day and hence you use yesterday's close ema(5397) for today's trading which is also quite far away and nifty might try to touch today's ema if it moves above low ema and then may resume fall. For that purpose, we update every hour the day close as per Hour close to know "How low the close ema is coming down"..(Currently as per 12.00 close, it is "5364").
Very Nice Explanation...
Thanx Sir!
Ns retraced exactly 38% till now.
1.00PM TT & Charts updated.
Thats right, Fire.(5339)
sir, thanks for the TT update...
sir then, hourly-JNSAR + FIBBO-table suggests NIFTY heading to 5369 ..??
Master,
:)
If it holds 5305-5310 zone again, it might attempt another high..5347/5369.
Below 5305, it would be weak. Only below HLEma(5288), the danger of a new lows for the day is possible.
@ NF,
As RT charts show OB readings, the current correction should be a shallow one to a maximum of 5305 for another high.
I THINK DOWN SIDE IS LIMITED TO 5284 TODAY
5305 broken.. will wait for close@2 below HLEma-5288 to go short again.
RETRACEMENT IS REACHING 100% FROM HIGH BUT KST TILL NOT ABLE TO REACH 0 ZONE
Is it a Buy trigger if it sustains above 5339 ?
SIR.
ALERT
KST KISSING 0 ZONE AND WILL TRY TO STAY @ NEGATIVE SIDE
Hi all - OOT - 8 Semesters 80 GB sylabus 80 MB v study 80 KB v remember 80 Bytes v ans. BINARY Marks v get, known as BTech (Brain Technically Empty)
If time permits will come with another OOT
Bye
Sell into strength only as the larger trend is down..
T .R .A .D .E.
This looks like the "iv"th up completion and start of "v"th down..
sir,
in ur perfererred lableing this 3(3)v(iv). the c of 2
was probably truncated to 5495 the high of a is 5527.
sir when we calculate retracement we whould so frm 5526 or
5495?????
RETRACEMENT NOW REACHED 100%+ AND KST IN NEGATIVE ZONE NOW WE WILL REACH PROFIT BOOKING ZONE FROM HIGH
@ Fire,
Did you notice the "Bearish flag formation" and a break down below 5305.
NIFTY FUTURES
BUYERS < SELLERS
ADVANCES < DECLINES
ANOTHER NEGATIVE DAY IN MARKET?
Uploaded the "Bearish flag" chart.
IS LATE KILLING POSSIBLE LIKE YESTERDAY?? 5288 BREAKS
Is it right time to short?
market is up may be because traders are covering their position(Friday effect)
short nifty sl hit 5306
Sir if 5288 breached what will be the next target?
THE SAME WHAT I WRITTEN LAST NIGHT ON MY BLOG
THIS POST, also consist, round about 30-40 stocks & trend prevailing in them, along with levels.
this is the link
IS IT OVER
SIR
kind thanks for the levels & time alert u have been providing
helping me a lot in taking my trade decisions.
RETRACEMENT 161.8% CROSSED... ?
& STILL GOING DOWN SIDE
@Ilango
Thnks for the 1.36 chart and trade. I shorted at 5303 and covered at 5267
Master,
my apologies for the delay as I can't keep my eyes on the screen nowadays for a long period.
But I noticed the formation, thanks to your teaching. I took it as a triangle, or a Bearish Pennant. For your rectification sir, Here is the 30 min. chart as I saw it ---
https://picasaweb.google.com/lh/webUpload?uname=yinyangfire&aid=5493663065016907505
Sir:
Thanx for updating your observation. Please tell what could be the possible target for this bearish flag.
Thanks,
good game happening with sethu & viji
luka chhipi
one, praising the other for his posts on the blog
the other, requesting, the other, to kindly keep vising his blog.
& what a nice way to preach a blog, no direct advertising, so even i lango sir cant stop
one must tell , sethu & viji, that this is not a communication centre, and they both can carry on with their game, either through mail or through yahoo messenger.
EVER ONE PLEASE COMMENT
SENSEX -43 NIFTY +6.7
new post done.
looks like 5177 will be taken out..
5242 Spot is the VAL
SIR< accordingly, u told us the levels of 5305 & 5288, which helped us in taking decision,
kindly keep guiding, where & when to book profits & can it be well proved to be a trending day, today also.
I THINK DOWN SIDE IS LIMITED TO 5284 TODAY
I WAS WRONG WHEN I POSTED THIS NOW ITS STILL GOING DOWN
THANKS Ilango
HI
I had posted this query yesterday would be grateful if any friends here can
answer my query.
I have one doubt while trading with JNSAR.
I shorted at 5455 when the sell signal was triggered. Once we are in profit how
do we apply a trailing stop loss ? Can we use the Day Low Ema to square off shorts ?
Most of the times in situations like this market recovers to daily JNSAR and then starts
its downward journey again (like last month.)
Also wanted to ask Ilango Sir, whether we maintain the shorts we picked during the
JNSAR breakdown @ 5465 till budget next week .
many thanks to everyone on this blog especially Sir.
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