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...
64 comments:
NIFTY 5253.15 -9.55
I'll be busy for 30+ mins.
Read my charts. It has all the details. And the Premarket levels.
Yesterday low 5243 is taken out
WHAT A FALL...
sir...
bearish flag
Indian Trader said...
I THINK DOWN SIDE IS LIMITED TO 5284 TODAY
I WAS WRONG WHEN I POSTED THIS NOW ITS STILL GOING DOWN
THANKS Ilango
This downtrend may take us till 5101 as 5th down.
i will buy again @ 5170-5180 with SL 5150
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.
@ Rajagopal Sir,
Whats the 2:30 factor today? +ve?
BOOKED PROFIT FROM HIGH LOOKING FOR UPWARD
SEE YOU ALL ON MONDAY
HAPPY TRADING..
this is really crazy.. what is going on here..
Extreme volatility. booked my small profit.
lol, what was that crazy rise about? Is this big buying coming in?:)
See the chart above that "iii" may have ended and another larger "iv"th UP may be unfolding...
Sir,
The larger ivth up could go to 5340-60 as u have shown which should be the reselling zone, right?
All in a day's work!! Nifty wants to get over with the current wave count and move onto the next big fall. Lol
FM speaking on cnbc
SIR,
pLEASE DINT GET ?
Thank you Sir
@ Shreyunik,
Larger "iv" wave would be more choppy than the current smaller (iv)th of today's..
That would suit budget day's gyrations..
(Reposting from comment section in previous post)
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.
Sir, Now Bearish flag Scenario is is done or still we can trade?
SIR
any signs of a trending down day today.
also, what for those, who could not book, profit at lower levels.
Sir & Family
Gm..
i was only looking at ur marked "4" green in ur chart..
Let me take Oath of not trading until budget.
when in deep red buy with one hand..when too hariyali sell with two hands
Friends, day traders avoid for the time being. dont waste money. market will be here only. it wont go any where. Avoid trading till budget..just 2 sessions. Then play safe as usual. Dont waste hard earned money.
@ Rochak,
Now it is likely to trade 5265 to 5365/5400 till budget.
@ RishiM,
JNSAR to be taken in 2 or 3 lots and periodic profit booking should be done with one lot left for SAR trade.
Very well said manu.
specially, if the trades, were meant, purely for intraday purpose.
sir, kindly answer my q.
thanks, regards
@gaurav
yeah you are right, yesterday i closed my shorts early at 5340 and took oath till Monday no trade....
today's volatility pulling me to trade....but luckily i have escaped......
sir,
repeating previous q, if non inconventent for u.
the retracement of 3rd wave shud be frm 5526
or 5495???
G'day Yoda mam..
That crazy spike must be a hope in slope.. :) Lets hope there won't be much for falling candles..
@RP: You got the chance here. My God this is Crazy
again nifty 5317 to 5270..really crazy..strictly avoid trading till budget. yes Saz.
Sir,
The pace at which the a and b moves seem to have unfolded, ivth UP should get over today itself!!! Or should we expect some irregular correction on budget day?
Money Saved Is Money Earned.
@ PS,
The form looks like the retracement to 5339 is for the fall from 5495 to 5243.
Now the retracement would be for the fall from 5526 to 5233.
I hope you get it, looking at my chart above.
5265.. held.. amazing.
hey bhagwan!! so scary moves... ufff
g'day to you too, Rama.:) You're right. I'm hoping we've stopped falling and will go up like a rocket. It fell way too much yesterday - scary that.
illango sir i had short at 5320 in the morning and buy at
5236. now it is trading at 5290 can i buy as you said "iii" may have ended and another larger "iv"th UP may be unfolding.
Markets wont spare even the last optimist and the last pessimist.
20-20 game going n btwn pak-india
4th waves are excellent for intradayers. Use the RT chart and trading levels to extract from such "yo-yo swings".
All the above "ramblings" are for intraday only...please.
Markets are still below most Low emas..
Thanks a lot Ilango Sir !
3.00PM TT & Chart updated...
Wild moves
Rajnikant trading :D
@ Dinesh Rishi,
Now Rajini has company..in hot pursuit by "Junior NTR"..
thank u sir, i get it.
"Knocking at Day Low ema-5320"
GA Ilango n all , Coming back after long time, couldn't resist Dines ji, ....
Dines sir, did u had Gurh wali chai today?
sir as nifty is trading below low dema can i go short.
@ Rahul,
If you're a positional trader, you may have been already in shorts.
For Intraday, "Time-out"..
photo finish
ha ha ha ha Ashuuuuuuuuuuuuuuuu
Gurh wali chai today?
sir just want to add more short at this level.
Best that you didn't, rahul, as it turns out.:)
Ilango
After the completion of this 5 waves, what can we expect after that ? Will it be another A-B-C upward moving corrective rally for this entire 5 wave fall ?
@ Nifty,
:D .. :D
After this "5 waves down" is done, there could be another larger 4th wave up and then a mega fall.
This is the current scenario.
A lot of trading times ahead for us.
SIR,
SINCE, nifty had a unfilled gap, while coming down @ 5417, can we see, the large, uptrending wave 4 , may be limited only to 5400-5405.
KINDLY COMMENT.
ilango
how can we update this blog during market times?
syamala
dear sirs,,,,,,,,,,, I feel myself to be in a temple whenever I visit this blog.... One query I have in my mind ..... I want the performance of JNSAR and J10SAR for last few years till date........ Its my humble request to master Ilango sir and all blogmates ...anyone has this data and backtested result please forward it to my id coolshahiloving@rediffmail.com please dont think that by asking this I am questioning its sanctity..... thanks and regards -pls excuse my english
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