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...
61 comments:
Thanks kumar sir. Did the same here. Sold at 10700 :)
Did an intraday buy also from 10600 to 10680 :))
Prabhakar- i took it from 9:15 to 9:30 as ORB.
Kumar sir- did u mean 5700 put?
Very good Cooldent, Now u r outperforming me & SAM too...keep it up:)
@RAmcharan. 5500 put of next month
RC, Kumar Sir is saying about next month June 5500 put
Ilango sir, S&R for conservatives???not able to trade this bounce..
"examinee is better than examiner" :D
@Ram Charan,
Then is it not 5433 - 5488.7?
Good morning all, sir, when you mention multiple short
term possibilities, does it means to upside more as
well more downside?
Ya DR, now examinee is singing song from both sides too:)
Vix is 6.5% down.
GM Everybody...
prabhakar- see 2 min charts on google charts. at 9:16 it was a low 5432 and at 9 30 it was 5474.
Kumar Sir
I am pony tail
One Side booked 185 points
now again entered with small SL,
666 LOC for me :D
@Cooldent you r cool I am following you.. I also bought BNF @10575 sold double @ 10695
Will sell more if goes up.
Kumar Sir you are our guru.
Kumar sir- do u anticipate fall in next contract and not in this expiry??
Nifty Options Index OI at 10.00am: Click Here
@DR sir 666 very nice nuber.. is it given by Jumani's lolz
@ Bizagra,
5455-5465 are the supports that should hold for this bounce to continue into Monday.
You could buy there with a small SL @ 5440.
As per TT, the resistances are @ 5497-5506.
@SAM. Dont follow me. Im the junior most here :))
Good Morning every one
...
I already hold Long Position which I buy in Last 2 days around 5420 buy 5200 Call with stopl loss below 5350 because 5400-5420 is Multiple Support.
I told every one don't go short & exit Put Option because Market reday to Move towards 5600-5750...
Special advice given to SaiBhakt because they hold Out of Money Put Option but he is tomuch emotional for the Market are going down but Market do allays oppsit what People think thats why I take Contra call against the sentiment I hold this Potion with Stoplos of 5450 so my profit are not gone
Dear Ramcharan!
This month or next month, its secondary...safety is primary. Operator can eat easily premium of this month, 5500-5550 was already expected as a bounce in my blog so nothing unexpected...Even Sujatha's 5490 is very heavy:P
Any one not hold Long Position they can buy around 5470 with stop los of 5450 for the Target of 5600-5750
Around 5600-5750 Market ready for big move either down side or upside till that time trade between 5400-5600
below 5350 market r going in to the bears hand Bulls only hope if 5150 hold after breking of 5350...
but now every trade the market & dont hold out of money Call or Put otions
Dear Bizagra,
I am also watching 5455-5465... because feel so that,it would be litmus test for bulls and bears,if it shall come there.
GM Sis Suj
Stockgrp (Drakula) Yes he is silent observer
Drakula Reply Mannnnnnnnnnnnn
Update on Nifty's Falling wedge: CLICK HERE
At last wave v of a is completed @ graphs of all elliticians.
Now, we can focus on bounce back which can come upto 5600-5650 & not more.
I m watching a fifth wave extension @ 3rd wave. but 5440 is a very good support.
wave 1: leading diagonal
wave 2: flat
wave 3: wave 5 extension
wave 4: zigzag
Also, if nifty takes 2 days to slip frm 5500 then it should not take 2 days to close above 5500.
stockgrp uncle how are you -- SP
c started yesterday frm 5412 ,
looks like 4th wave going on.
bullish flag on 5 minute chart, if successful can target 5546-NS
DR-ji - thanks he is fine na?? :) big gap.. my D is disturbing.
for his whereabouts :P she too started posting. taking a break
A Fast Rise?!!!
how many more nifty points for a positive weekly closing?
Nifty Options Index OI at 11.00am: Click Here
Nifty Intra day Chart suggested 1 dip to wards 5450-40 is possible
& this Dip utilize to go long with the Target of 5600-5750
dear prabhakarji,
could you also summarise the otions index also.
it would be great help
thanks for your effot & sharing
Prabhakar, 5500put heavy additions and 5400calls shedding open interest shows that market should moveup for this settlement. Is that right?
Hi Kumarji,
Silently observing your comments i traded well for few days, time decay haunts me a lot, hence made an exit albeit made some good money.
As per my nascent analysis Nifty has broken the bearish flag pattern on daily charts, after the break usually the downfall is to the extent of the pole, pole target is placed at around 5050. But we have medium term strong support at 5350. Considering all this and your call, it seems apt to pick up 5500 june put for a ride down.
The entry should be monday i feel ( some steam still left if 5450 zone held and also the decay for 2 days)
Your valuable comments sir
Thanks
@Sujatha,
It seems while going for break, switched on the Nifty Grinder..
@Badri,
Yes. It is my interpretation too. Nifty spot as of now hesitant to go below 5477.
Dear dkmyvideo,
there are 3 lac plus quantity buyer is at 11 Rs. for 5600 CE when it's top is 12.75 so if they shall get "maal" then probably your words may come true.:)
i m here.. i m here )). Dracula sucked the blood of nifty in last few weeks, have been lazy now in summer hot days..:). Sujatha, i m fine. Tell ur D i am around :))
5492 not crossed but if 5470 provided support, it can for 5520.
--stockgrp
Nifty is testing the breakdown trendline from below continuously for the last 3 hours 5490. A failure to breach this level successfully could bring good selling. Though Prabhakar is not giving any assurance to us bears.
haha Prabhakar,,,
Ilango sir, nifty hesitating to go down, will it b a good idea to exit conservative shorts here and wait for 5465 to enter longs??
Thanks
@Gagan,
I am not all good at options, so i stopped comments. That's the reason for presenting the color coded table and the chart, to easily identify the Hourly OI.
Dear hitz!
This 5350 is really very crucial & thats why i gave aggressive buying between 5400-5350 in my blog on last sunday. But market was oversold so it was not easy for Bears to break this easily, after this rally its now little easy. But i dont want to waste a single penny in options of this month so started buying puts of June month gradually. Nothing will change before 5630-50 so sell in rally is the only MANTRA:)
SAN,
Nice analysis. Height of Triangle is 5460-5401=59 pts. Break out 5440. Target 5440+ 59=5489 target met.
Are BN khali ye... Mala Paisa de... hehe
Thanks Prabhakarji,
OI Specialists please enlighten us:-)
@RG Sir,
It seems you are busy/tied up with other works. Please come in...
Thanks to all the majors of this blog, special thanks to the master himself, its a fab place for youth like me to learn and earn. Learning is the key to success
Thanks again and keep up the great effort! :)
Dear Prabhakar!
U r always good in options but you dont know these operators, i know them very well. Sometimes they go short & sells puts for hedging in equal quantity...now tell me that what a open interest analyst will do?? Do not doubt ur abilities, i know ur sincerity & abilities. keep it up:)
Few days before I said FII & Hedge Funds Try to Trade Nifty around 5500 so They take the benift for Time Value decay of Out of Money call 5600-5700 & Put 5400-5300 Options.
They can do smartly so always Trade in the Money Options
Volume surge...
http://postimage.org/image/imbxekh0/
Fifth wave ext usually occurs due to short covering...
Its a mild uptrend so i m thinking to buy @ 5450 levels.
New Post Done.
Kumar Sir,
http://www.youtube.com/watch?v=g_jhxBsDi54
"gai Bhains pani may :("
Dear Kumar Sir,
Thanks for your kind and encouraging words always.
Sir I am still learning and do not wish anyone get hurt with hard earned money.
I am learning the lesson from well learned and experienced seniors of JN family who were keeping quite.
We always have Master, you, DR sir, Fire, Sujatha, RG sir to guide us here when required.
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