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...
160 comments:
@RG, Whats 2.30 Factor. Up or Dn?
Boucing from hour low ema @5467 yesterday bounced from day low ema 5413
lets hope foe best
anybody using line charts??? as of now 5463 levels is double bottom??? pls. confirm anybody (for learning purpose - 9.40 am and now 1.52 pm)
tks in advance
@ Bramesh - ur system in "buy mode" right? sofar SL not hit
Suja - Hi. for learning means earning? Is long ok based on both bottoms? Sir on "paramugam" mode to me(LOL).
DOW FUT -133
5460 is EMA yeah as of now not hit
i will look at closing basis :)
looks like this time it might get hit
Friends - my Tue 2.30 is +ve. Market may spit on my understanding.
destruction started
@ Sujatha
I will follow KST on weekly pattern and don't look at lines till KST is suggesting bottom side am not able confirm double bottom
today 5415 may hit...if 5460 is broken...
Hit SAR 5458
crude oil at intraday high link for live quote
http://freeserv.dukascopy.com/chart/?stock_id=504&stock_id=504&interval=10&points_number=200&view_type=line&width=400&height=300&show_labels=true&osc_type=-1&rfi=false&height=300&p1=2&p2=3&p3=7&c=2134259&detach=true©r=true&refcode=f727b71677cf471164a1133bb32397d8477d288142af0723674a9745d7ad43de3275677c
bnf jnsar missd by 3 points
sir,
23% fresh build up in 5500 call (for merely rs 30 premium) should indicate limited upside for the market at least till expiry. Though 5400 put has the biggest build up. It may be between 5400-5500 for the short term
Nifty took u turn
jab puri duniya neeche so how cum we ok..
either red or blue both must b big
sir who will be disspointed today bulls or bears or both?
if it was an ABC correction for the rise from 5413 to 5526, the C leg may have been over at 5455. and larger C upwards.
If not, it may be the larger C/iii downwards.
5455 is the key
market not giveing up bull still holding made the new low
but it bounce sharp so tomorow may be bull day
boy o boy
is ril joining d party????
IT - thanks for confirmation.
Bramesh - haha no probs.. during expiry index will hit all up and down SL :D my intra cam SL hits if bounce back means OK, or else gaya, hope will hold while typing holding let us see on closing basis.
RG - lolz mm sir para mugam on YOU, unbelievable :) u r the pettesttttt let us wait of 2.45 lolz. Unnecessarily breaking my head becoz of my foolishness
Sujata ji- as per google line charts, 5460.90 and now it was 5459.35.
i think expiry should be around 5540 to 5560..
it looks like nifty formed double bottom..
RIL AT DAY'S LOW.IT CAN COVER THE OPENING GAP TODAY ITSELF
sir nifty break 5466 can we hold short with sl of 5480.
some covering going on in 5500 put
just look BUY / SELL Signals
http://www.futurespros.com/futures-indexes/india-50-futures-technical
Covered full loss by buying 5500 put 4 lots at rs.54 average to 68.15
Sir,
after 2.30 shall we consider next days jnsar as our point to trade ?
Option Date reflects the mood of the market quite correctly because call writing is largely done by the BIG players. And we all know that more than 98% of the trade is done by big players, their positions in the INDEX options are therefore quite reliable in guaging the short term direction.
Highest volumes in RIL in the last 15 months, indicates distribution
NS 5450...????
@ Dhiksuchi Consultants
am happy some one covered his loss now look forward for profits
Indian crude basket touch to near 100$ par beral
sir
is it looks a downtrend heading 5000?
still holding sell,waiting for 5426 levels.
Ilango,
Nifty is below tomorrow's JNSAR. Can we establish a Short position at Today's close if Nifty closes below tomorrow's JNSAR.
Below 5450, it will break the daily rising channel
OF 5448.....5440 SOON
NOW 5440
as per KST data Nifty still in danger zone
Booked Profit and looking for long
Sir,
Same doubt with me which @nifty mensioned
please reply ?
Bearish Three black crows crated twice
please confirm
Bullish Cartel i dont think so ..Mukesh Abani going to holiday --lol bec he sold stake and now party happening
in London--lol
@indian trader,
Thanks.Where it is showing buy sell signals?Is the chart available in Indian Rs.?
JNSAR in both BN and NIfty ...
daily-JNSAR hit.... superb...
JNSAR triggered!
respected sir
when are we supposed to cover our shorts, if r intraday ?
@ eod ?
i would advise going short only after 5410-5 is cleared or trade for 30 points only.
Sir, JNSAR triggered?
trailing sl for shorts at 5456 nf
@ Rochak,
Intraday shorts could be covered either here or @ 5415 zone.
yes cooldent, jnsar triggered in both Nifty and Banknifty.
reliance ka share lene ka hi nahi bec jab mukesh ne sell kar diya to apney ko kyon lene ka? what a simple logic:)
@ Dhiksuchi Consultants
KST till now its on selling side
BUT I DON'T WANT TO TAKE RISK AS AM SAFE AND LOOKING FOR LONG (A SMALL ONE FOR THE DAY)
Can we take positional shorts here for March series if JNSAR (5439) is broken today or
do we wait for some bounce ?
Completely in cash here with no positions.
Thanks
@ RG - i said let us see @ 2.45 pm 3 mins. nifty late arrival???? deivameeeeee JNSARRRR appadiye konjam protect panniketu meleeeyyyyee poyiduga :)
BOOKED SMALL ONE IN LONG SIDE
Dear Sir,
Is it OK to keep SAR of 5460 for JNSAR for today
Thanks & Regards
Sanjay
@indian trader,
what kst?
KST MAY CROSS AND GIVE BUY OR SELL SIGNAL AM NOW WAITING
thanks, regards i lango sir
5468 sell,kept buy order at 5426.65,missed by around 2 points.
@ Dhiksuchi Consultants
KST = KNOW SURE THING
USING BY MOST ACTIVE TRADES
GOOGLE IT FOR MORE DETAILS
5500 came out at 68.15,went up to 88+,bad missed it.
@PRASHANT,
ambani awi tej motto natthi banyo saaheb, ambani ka sapna, uppar me maal deke nichee sab apna haha
came out at 5436.
Suja I was bit worried about the "kili" post. Nice you came home. Keep spending some time - (mom's home in the same street).
There could be a bounce post expiry towards budget then the big BANG.???
Sir, carrying jnsar shorts..
@ Sanjay,
"5471" would be a good SL.
KST = Know Sure Thing??? Nice to know someone using it.
Sir SAR and 5470??
Dear Sir,
Thanks for the SL
Thanks & Regards
Sanjay
booked profits in nf shorts of 5486 at 5453
KST LINE CROSSED AND REACHING BUY POSITION TILL NOT ABLE TO CONFIRM NEED HELP FROM MASTERS
RG - No TRADE ever great untill it is focussed, dedicated and disciplined... i missed my "discipline" just a fraction of second...OOps.. hence in "mother's home" mother comforted me.. shhh not bad at all will be 'more alert" (inbetween how many times this more alert.. each and everytime it's happening!!! often) 5469 on CLOSING BASIS protection is GOOD for upmove, but will it??? anyway little OK that JNsar protected sofar.
@ Rajagopal
MAY YOU TRY IT ONCE WHEN ALL DATA FAILS
BEST TOOL EVER USED IN CHARTS
nifty traded in premium
What is KST ?
WHEN AM IN CONFUSION AND NO POSITION IN HOLD I USE KST AND TRADE ACCORDING TO LINES AND TRYING TO IMPLEMENT FIBONACCI BUT NOT ABLE TO GET SUCCESS
yesterday JNSAR saved by 0.1 point and today by 0.3point !!! Mindblowing.
Exiting Nifty which took on jnsar and reversing at 5472.
40 point SL hit for JNSAR. Reversed back to Long again.
Good Suja. No place safer than mummy's lap !!!(wife must not see this)
===
IT : Thanks. Read about it. Trade Tiger has it as one of the indicators. Will try...looks like MACDH right?
@vineet,
today jnsar in both nf and bnf triggered however
market has risen after that
PS : Since nifty/bn came from below and crossed JSAR can I take it as LONG signal.(don't say crooked RG).
Dear Sir,
SL triggered again to Long or wait for another day.
Thanks & Regards
Sanjay
Khulla Saand Tera - KST ?
how fast, the profitable position converts into a loss making trade.
i shorted RIIL at 690, it feel below 677, i did not cover, & then market forced me to cover at 704
@Piyush - omg, thanks for clarifying. I misread it as 5437 (instead of 5439), and did not take the trade !!!
sir jnsar triggered or not . please confm
Sir,
Do we have to reverse it today or wait for 2morrow?
that s why, i started believing that, the trades, sl, put by us on our trading terminal can & are easily seen across india & abroad, on HFT.
IS IT TRUE ?
ps..u carrying shorts
wht abt portfolio?
RG - today's management quote - Do not view things you do as a "job." View all activities as a challenge. I hv done my part. :) thanks to sir.
IT - can u pls, post what is KST and the link pls. i never tried any charts for trading sofar.
Sujeet it is today we have to reverse.
SIR, how does, the closing seems today, bullish OR bearish, for tomorrow ?
thanks answering, regards
@ Sanjay,
For me, I take the JNSAR short and keep it. And here, there are other bearish indications continue to exist except for high 5400PE OI.
If you keep some SL and stopped out, stay in the original trade.
sir
i think ril will rcvr..
rgsir,
jnsar or any sar will not work well in corrections like
these. it looks like it might be a whipsaw. 5400 is a
good support and closer to it longs are low risk
Ilango is it a long carry day or wait for tomorrow?
Suja - check Investopedia for KST. One more arrow in your queer.(Queer full of arrows by Jeffery Archer - don't miss.Your D will love it). I am a weak person. I don't accept challenges. All are just hobbies...some bit difficult as weight lifting exercise.(ha ha ha).
Ravii said...
Does market also follow “Pareto principle”?
80% of movement happens in 20% of time frame! :)
As per Benot Mandelbrot, this is one of the fundamental characteristics of the market
Nifty bounced 55points from daylow and the jnsar which is reversed going safe as of now.
Sir,
I have Bought at 5447 with jnsar as stoploss what should i do ?
RG : Quiver? :)
cheers
but sir, we can not bear more than 30-40point sl..so it made us to reverse.
Thats my Prof.
Thank you PS.
Bye Sir. Bye Friends. Todays EOD post and next Premarket will be savoured.
@ Rochak,
Our markets will be mostly dictated by the Open interest. And the technical day low ema has been protected. These will keep the bulls active.
OMG KRG. Thanks.
OI picture is poor
ps..wht s 5 day avrg n nifty putting 2dy apprx close
Budget, global crisis making markets volatile and also vix is above 27..causing market to give 50point move up and down in minutes.
so for this jnsar i will cross not only fingers but entire hands :-)
today JNSAR 5439, yesterday didnot cross JNSAR but today cross, didnot hold so i think it's good support. ilango sir plz comment sir.
it seems 5400 giving good base to market for this series.
RG: BTW, think Nickel (MCX) has major resistence at 1350-1400... Musti: Your view?
This is purely intra movements & unless markets breaks 5415 and 5595...options player will not let the index go beyond the range till expiry...this is appearing very visible in movements based on yesterday n today...real movements will happen post expiry n on the budget day...options readin so far suggest to be on the short side for nxt series too..lets see..market is supreme..
THOSE who are carrying longs, please note $ is up, dow fut is 120 points down.
can anybody confirm that we are in JNSAR shorts or not?? have we reversed it to Longs??
Ilango Sir, forgive me but your message to Sanjay is not clear to me..
"If you keep some SL and stopped out, stay in the original trade." does this means that SL of 5471 for JNSaR trade is hit and we are out of trade now.
please confirm
Our JNSAR is lagging indicator
and if we add SS which is leading nothing else required
KST compare it with SS and see/feel the difference.
Price Bhujaye Pyas baki sab ............
@ Mohan,
During such corrective phases, small whipsaws are seen.
Treat as support and deal with the new JNSAR for tomorrow's session.
If you have lost few points due to SL, those are the small prices we should be willing to pay for the bigger gains.
@dinesh bhai,
what is ss??
manu didnt get it
closed below 21 day EMA5509 -uNABLE TO CLOSE ABOVE FOR THE CONFIRMATION.bEARISH SIGNAL FOR THE MARKET.
carrying jnsar longs from 5472..now this jnsar is inthe hands of Manmohan singh :-)
Dear Sir,
I short March at 5490, as my JNSAR again after seeing your comment.
Thanks & Regards
Sanjay
Im sorry not Manmohan singh..
It is in the hands of Pranab da.
Developed by George C. Lane in the late 1950s, the Stochastic Oscillator is a momentum indicator that shows the location of the close relative to the high-low range over a set number of periods. According to an interview with Lane, the Stochastic Oscillator "doesn't follow price, it doesn't follow volume or anything like that. It follows the speed or the momentum of price. As a rule, the momentum changes direction before price." As such, bullish and bearish divergences in the Stochastic Oscillator can be used to foreshadow reversals. This was the first, and most important, signal that Lane identified. Lane also used this oscillator to identify bull and bear set-ups to anticipate a future reversal. Because the Stochastic Oscillator is range bound, is also useful for identifying overbought and oversold levels.
http://www.incrediblecharts.com/indicators/slow_stochastic.php
Dear Sir,
As it closed below Daily 5EMA, I carried the JNSAR Short
Thanks & Regards
Sanjay
For those interested in KST.
http://www.1technicalanalysis.com/momentum-indicators/KST-know-sure-thing/online-know-sure-thing-lessons.php
System is system. so, no matter one or two sl hits but lets stick to jnsar long side.
thanks dinesh bhai
My Master voice
http://tradeinniftyonly.blogspot.com/2009/12/leading-technical-indicator-stochastics_27.html
@ Mickey,
Sanjay has taken JNSAR short @ 5439 as soon as that level reached and kept a SL of 5460. I suggested based on 1 minute pivot high-5471.
Being a SAR trade, it is supposed to be reversed at the stop level..i.e to Long(the original trade).
Of late, we have had instances of JNSAR being breached by 0.1 or 0.01 or 1.3 etc. One could use 5 to 10 points at such occasions to give the current trade a chance. If not keep a 20-30 points SL and reverse. These are some of the practical actions to manage the trades during corrective phase or a range bound moves.
Continue to believe in this SAR method inspite of the few whipsaws or stop losses as it captures "All the Big Moves" of the market. Its cumaulative performance has been back tested by readers for the past 5 or more years as well as from sept.09, it has been demonstrated here in this blog.
All the best.
Looks to me as if nifty is headed for 5330... anyone else sees it in the daily?
Yes sir, very well said about JNSAR. we can not violate this rule because I think sir you might have remembered that once we violated and exited jnsar trade earlier than it triggered but later it went more favourable to jnsar and we had to sit without trade. So, friends lets stick to jnsar. Lets sacrifice small tiny fishes(one or two sl) to catch a WHALE or SHARK :-)
Yoda Mam
Who is in pain in this series?
@Dhiksuchi Consultants
KST IN GREEN ZONE AND TRYING TO CREATE SELL ZONE BUT I HAVE TO CONFIRM IT WITH JNSAR
COMPARE IT WITH JNSAR AND MOVE ACCORDING TO TECH LINES
JNSAR GIVES ENTER AND EXIT SIGNAL FOR ME
I FOLLOW JNSAR AND KST
@ yoda why 5330??
dear yoda, from volatility index point of view it supports bears but nifty took strong support at 5400 since last few sessions and any fall immediately getting bounced. so, once crosses 5520 and 5545 then next hurdle is recent high of 5600 in the last week. during that time budget will show us shiva tandavam .. :-)
moreover jnsar is back to original long side :-)
@piyush,
Because its below last week's low ema if we're to make a new low (new high already made last week).
@gaurav,
There's 2 days to expiry, so I'm wondering if we're headed down rather than up.
@Dinesh,
I think the bulls have suffered as much as the bears, what do you say?:)
Thanks sir,
now the confusion is clear over implementation of JNSAR & SAR.
I kept the whipsaw in mind and placed the order for 5430NF, but by afternoon NF comes into discount and my order was traded which again hit the SL of 5471. My bad day.
But I understand that this is part of Trading life and one has to accept small losses to make way for Big gains.
Thanks a lot sir
I can feel horns on my head LOL
That's cause you're a daredevil, Dinesh.:D
Alright, today's spinning top or whatever really doesn't give us a direction so no point in speculating - tomorrow should make it clearer.
@ EVERY ONE
FROM MY PAST POST EVEY ONE IS TRYING TO KNOW ABOUT KST... ITS GOOD.... BUT MY APPEAL TO THIS FORUM IS PLEASE DON'T TRY TO FOLLOW OTHERS IT MAY RESULT IN LOSS JUST COMPARE YOUR METHOD WITH OTHERS AND SHARE IT HERE IF WE ARE WRONG WE CAN SAVED BY SOME ONE AND IF SOME ONE IS WRONG WE CAN SAVE HIM/HER FROM THIS BLOG
EVERY MASTERS NEED TO RESPOND ON BAD POST FOR SAVE OTHERS AND SAVE THEM SELF.
GOOD BYE... SEE YOU ALL... TOMORROW...
omg yoda!!that is innovation of tt . ema's of past
data. too much work :-)
Also, to hark back to my irrational moon obsession - we just finished the full moon and a high - a decline is in universal order now, I'd say. lol
RM not seen now a days
He was sending me gifts daily Farmville gifts on FB
with ID Rakesh Sharma
I was wondering who is Rakesh Sharma
Yesterday he gave surprise by uploading his Smiling pic
@piyush,
You know what? If it really does reach 5330, I'll share a new way to use the tt table that I've been experimenting with. I'm still not sure if I'm right so I'll wait on the idea.
I've got a moon theory too, so SR will probably enjoy that.
But it all depends on a new low exactly at 5330.:)
That farmville can keep everyone busy till they die, Dinesh. I did it for 40 levels by which time I had to spend 6 hours a day harvesting. haha.
Tell RM to quit and concentrate on trading.:p
In last 12 trading days,today is the 1st day where mrkt has come back again above or below 200 MA line after crossing it.That is the reason at one point of time I went into losses.Lets see what happens in coming days.
dinesh ji
i think, for this series, bears are in pain.
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