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...
32 comments:
Market to remain volatile. Nifty spot if manages to trade and sustain above 5510 then we can see some recovery in the market and if Nifty spot breaks and trade below 5460 then some profit booking can be seen in the market.
Important US data to be released today:
1. Consumer Price Index
2. Jobless Claim
3. Ben Bernanke Speaks
4. Leading Indicators
5. EIA Natural Gas
llango sir, yesterday evening chart u have mention above
c wave and c4 is at 5520 and c5 is 5075 so u expect to
fall form 5520
[This is for rani]
I made a mistake explaining about hawala in the example I gave (duh!:) It is the last trading day of the month, so obviously that month's contract has expired - so end of Jan its the closing rate of the Feb contract.
Sorry about that - I was distracted by the trading.:)
@all
where is manoj
missing
BNS,
Fibo is relevant, and is the golden ratio, so maybe you can look it up.
But I'd suggest you concentrate on the learning how Ilango uses the tech table and jnsar to get the most out of this.
Thanks Yoda
GM to all
Dear Tigar,Prabakar,
Due to near by expiry & huge 5300, 5400 & 5500 PE writing current abnormal condition has occurred. As per my limited knowledge for tomorrow, considering +ve market condition & over night +ve cues if Nifty shall start to trade above 5515 then it shall be warning bell for shorts & trading above 5530 shall be confirmation for the same.If it shall start to trade firmly above 5515 means Bulls want to or likely to concur 5550 is my understanding.
A journey towards 5550 has many hurdles, which is but natural but above 5550 tomorrow, the real short covering shall be there till then you may decide your strategy.
If it shall fail to cross & sustain above 5515 then relief is there if you are short.
P.S.
I don’t know, whether following abnormal observations are useful for you or not but ….. Posted….
FII are net index buyers in this pull back rally. Yesterday they were absolutely neutral or one can say did not trade/participate in NF index trading. Just 1.5 lac addition is there in NF O.I.
NF average traded contract figures are proof for the same. For 5 Day Avg.traded contract 5,22,719 For 10 Day 5,29,607,For 15 Day 5,25,008 & yesterday it was just 3,47,916 Nos.of contracts. Well below all averages... -1.75 lac. & yesterday's FII buy-sell figures for Index Futures are the lowest one for this month. So something has to or going to happen here is the guess.
Let us see. All the best… Shall try to join you in lattar trading Hrs. Bye.
good morning,seniors..
Good Morning Sir and Friends.
GM & Thanks Mynac for posting your observation and a warning bell.
GM Yoda mam. So early today!! :) r u in short?
good morning sir
agressively buying 5500 put good risk reward ration sl on spot can be 5510?
Gm Illango sir & all
GM to Illango sir and all other masters
Dear Yoda
The hawala rate is the the expiry closing rate of January only- that is 5604 as far as I know . You can confirm this with Mr. Prasant Shah also
Regards
Addition of OI seen in both CE & PE 5500, Call are little up at this moment.
gm sir and freinds
prashantbhai gm shorted nf at 5475 sl 5480
This is the 12th hour of a very narrow range bound market. A breakout should give a nice directional move.
Is this a Running Correction, to shrug off its overbought condition? Likewise happened in the final rally to 6338.
On the other hand, if it is an Irregular correction, NS can come to 5399 levels. (A=67 points. 67*1.618=108 points, 5507-108=5399). That would also cover 100% of B.
@ fire can we go short in bank nifty????
illango sir good morning sir i am holding 1 lot of tata
steel at 665 can i hold or exit now to buy it at lower
level.
thanks rv, actally not so lucky because i saw the book
frm that link only and thought of reading it. but it was
not in downloadable format.
printing 250+ pages wud be tough . if there is some economy
edition by indian publisher buying that will be easier.
that 's why i asked fire
Good Morning ilango sir and friends,
Today's Quote received :
A bend in the road is not the end of the road....unless you fail to make the turn.
Educated people change themselves according to the situation....
but the Experienced people can change the situation according to them.
CE 5500 writers hv upperhand at the moment
Good Morning Gauresh sir.
Thanks for the nice quote.
GOOD MORNING TO ALL
sl for nf shorts now at 5470 prashantbhai
NEW POST DONE.
@ fire can we go short in BANK NIFTY?
nf shorts stopped out at 5470
GM All,
Am holding 2 lots of 5400 PE, should i hold or exit.
Appreciate your suggestions on the same.
Hi Prabakar, just worried about my longs, therefore early.:)
@Arvind, you may be right if its spot, but for NF by then there is no contract, so it has to be the feb one. But I'll wait for prashant shah to confirm.
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