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...
117 comments:
Sujataji- Me too fingers crossed about 20 ema crossing below 50 ema. I think we last discussed this in March. However it seems we need to fall big time for them to converge in weekly charts or trade below 20 ema for some months in range bound consolidation.
eagerly waiting...
@Cooldent I was away from the terminal ... as power off at my place.
Dear All!
I said so many times earlier too, This market has a very bad habit of surprising me, you, any FII, any operator & all analysts so dont try to prove urself here. First identify the trend & then trade with proper stop loss & market will reward u so often)
Nifty Options Index OI at 1.55pm: Click Here
Included OI Change and Price.
Bye for now. will be back by 3.10..
very true Kumar Sir...totally agree.
@sujatha @ram
A death cross, a 20wma 50wma bearish cross
In History market corrected even 50% after this type of bearish signs.
I am tightly holding short position and trying to apply JNSAR value closing basis only just want to be short side
Thank you Sir
Ilango said...
@ 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.
@GA DRSIR KUMAR SIR, ILANGO SIR, FIRE AND ALL OTHER FRIENDS
Where are you powertrade? Kya birajo 6o?
sir TT table used is not the correct one... please post the one for 2pm..
Nifty into premium back,,,
JNSAR triggered for a buy, right seniors?
yes H20, JNSAR is a buy now... keep 20-30 points as Stop & reverse...
BN Trader do you know where BN left gap during
down journey? :D
JNSAR triggered for buy. But i will buy only after 3.25 if nifty is trading above 5506 otherwise short only
Thanks Nifty Futures
dear illango and all,
please note that vix is now down by 5.7%
and is trading below 20 which is very bullish
@ilango sir
A silly question but i must ask. Last time when JNSAR triggered you told don't expect much from this trade. What do you say about this trade?
@niftydoctor, yesterday you were cautioning all traders who were short... good one..it has come true now...
Dr. JC Shah
your Yesterdays Post gave me confidence
Thanks :D
shall nifty be bought here ?? any seniors reply please
Oho @ dr.jignesh shah swagat 6e tamaru sir
@ Nifty Future
JNSAR is at 5506, we use filter or 20 point or not for buying if not then what will be SL for long positions?
Thanks Dineshji,
10590:-)
I would short now at 5516 - for targets of 5450 - Stochs have reached overbought territory on NIFTY hourly charts - 2.30 pm effect as well - resistance at 5520-5527 risk reward with bears for next 1 hour
thanks all
y'day i sense that traders were very much pessimistic...
and vix was falling so i felt that we r near bottom..
moved up fast above 5490 towards 5520 to form -ve divergence for the day
@Dinesh K,check my earlier post , for todays JNSAR LONG @5506 Stop & reverse is 5476-5486...
@ jigs
jnsar is with sl. i u r short biased u can part
book longs soon. but imposing bias on jnsar traded is
very dangerous
unless one is very experienced trader. mon jnsar is
5490 by default u'll have to take longs on monday
@dr.shah so sir do you think we bottomed and we will see more upmove from here?
Your view for coming days for market please
Thanks Nifty Futures.
if instead of i, trades instead of traded
@ Jigs,
Hour TA has shown the short term uptrend from the first Hour. A pull back gave a perfect entry.
Presently, it continues up. A close above 5503 will be a "Close above all Low emas"- a perfect pause and trading time.
Day Lead indicator too turns up.
However, one should watch the formidable 5550 resistance.
This JNSAR has started from Day TA turning up but Week remains down.
@PS i am just taking JNSAR closing value to reverse my trade. I am net expert but i dont think taking closing value will cause much damage.
5500 puts have added 21 lacs in open int and
5500 calls have shed 12 lacs in OI but still around 67 lacs,
so expiry should come around 5500+/- 20 points
news- Kanimozhi arrested
@Cooldent I once again Shorted @10722 covered @10670 once again minted... 50 points...
how abt you?
@PS not instead of net.
@ilango sir thanks for answer
@sam. was coming back from office. so missed the action. covered my short now
@jigs
that is not how sir recommended trading jnsar.
check some of the past triggers nifty moves away
50+ points sometimes by close. it may not be case today as it
as it has already moved 70+ points.
Hi kumarji,
Would it be wise to look at buying 5500 June Put, trading close to 120 levels?
request you to please comment
Thanks
Who is Kanimozhi..?
Naam to Kanimozhi.., bol to kadwamozhi
@jigs,
it will be to early to say that we have formed bottom
and it seems that we will continue to trade sideway in
545-5550 range.
Yes you are right PS. So i decided From monday onward no more mind play with JNSAR. simply follow JNSAR only today i will consider closing value
lol Ilangoji
Thanks dr. Shah. @sir :D
illango sir closing above 5505 needed naa ???
Dear hitz!
Just buy 5500 June puts between 135-100 & stop loss 80 covered all things within it. Risk reward ratio is good but buy in small quantity only bcoz we have to see, where this pull back stops?
sir- whats the maeaning of Kanimozhi??
Kanimozi mouthpiece of karunanidhi, just now saw,,,
@Kumar Sir BN is pouring a lot of money to us:)
Thank you sirji
@Kumar: small quantity means, per say trader having
25K in account, how much %/lots you prefer to buy?
@Ram Charan Kanimozhi is daughter of Karunanidhi.
@ vetha,
There are so many factors that go into a trade. One need not wait for all the triggers as the reward diminishes with more triggers.
As the short term was oversold, the first trigger was staying above 5434-DLEma followed by Month. A close above 5503(WLEma) would add to one's confidence.
As "Nifty Doctor" (Hi..Doc :)) said, it could still continue in a range.
@ Ramcharan,
Kani means "Fruit" in Tamil and the name seems to suggest "Meeta bol". Lekin hua toh kadwa.
sam- :) i know dat...i wanted to know d meaning of d name Kanmimozhi. since sir sarcastic abt her name i wanted to know real meaning of Kanmimozhi.
k sir thanks a lot
Sir,
Kanimozhi singing "Vazhthalum easum,Thazhthalum easum.Vaiyagam idudanadaa..."
==
Rs 100 Pickpocket and Rs 1.50lakh embezzelers - both get only jail ? Who is going to be afraid of Indian Judiciary?
BN not showing much strength.
Anybody tracking ITC ... OI is up 40% what does it mean ... more and more short positions?
But results are out and they are above expectation.
yes..sir..Neenge nalla sollingla :)
Another hour failed to close above DHEMA.
jnsar trigger at 5486??
Hehehe Banknifty is pulling Nifty back...and tightly....
RG not merely 1.5 lakh it is 1.5 lakh crores plus
Dear rajapvt!
If somebody has 25k in a/c then he/she must buy HLL only bcoz it was almost 300 in 2000 & in 2011 too, no speculative trades suggested to small traders.
Dear All!
Nothing happens due to Jail, today media reports are that Kalmadi is sitting most of the times in AC room of Jailor due to hot summer:)
@kumar Sir what is your view abt ITC?
Dear SAM!
Its cigarette packing is best & it appeals me but i dont smoke so dont trade:)
@kumar sir, very funny but truth
this seems to be a 3 wave up move,.......
The funny thing about our justice system is that even if these fellow get convited and jailed, after serving their term (sic) they will be free to enjoy the fruits of their loot.
There is no system / procedure to reocver the loot or money collected by way of corruption, only jail term if and big if, they are ever convicted.
@cooldent, 20 points is too tight a stop loss... 5476( 30 points) if touched would be a SAR for JNSAR LONG @5506
@kumar sir fireing :D
TT & Chart updated.
Nifty June puts 112 to 132......What to do with this safe gain of 15-20% in half hour?
Is it time to SaR JNSAR?. I do remember master's word, JNSAR triggers only once in a day and have to wait for next day to revers. Expert advice please
short term trend revereses below 5450 only
Dear Sujatha!
Amma has to win bcoz it was ur support, she was ur heroine:)
http://www.thehindu.com/arts/cinema/article1567568.ece?viewImage=5
As of now, 5500 CE & PE, more or less carrying same OI at week end.
NS has to stay/close above 5470 for downmove and on Monday, stay above 5507/5510 to move up.
@PS today safe with short. Thanks 4 your words. From monday strictly JNSAR
Kumarji - lolz :) :D but wat i mentioned is the fact or not
@sujatha you are right. Same thing happening with narendra modi here. He is also fighting
yes jigs,
jnsar is stopped today . ur loss saved :-)
monday is another day. lets see
sujataji- u have become very mystical abt ur numbers :)..now fill in the blanks for JN members? we shud have 4 options like KBC :)
Since Sujatha favors bulls, Sure on Monday a Gap Up. :)
BB pattern still in picture, as upper and lower expanding, while middle one moving up..lets see follow up on monday
buildup in 5500 put @ ATP 60
expiry may be 5440-5570
@Sujatha Ji sensex is closing above your given level.... so what is next view?
Weekly indicators remain in a sorry state. Plus we get another close below WLEMA. Not a single hourly close above DHEMA. Volume poor. Now... ???
For Bull, the below alarm/signal by Master is ringing!!??
"My Critic is quite clear about "Settlement bias" - it is down. He has gone wrong rarely in "Speculative markets". He understands the logic of speculation quite well."
jiggs - very true. If anybody would hv @ his place, donno howmany somarsault they would have done. But he is don’t care master :D i am a great fan of him coincidentally he only congratulated Jayalalitha first after her oath :) if she is "like him" then TN people r lucky. You people are lucky really. I wish Advaniji should “consider his name for “PM” during next tenure.
Prabhakar – u r right 5510 is the joining line from lows :) but as far as short term concern “slightly favouring bulls”.
Ram – yeah, my nos. should not confuse others hence deleting also after 15-20 mns. :D for the benefit of some JN family members who’s following sir strictly. :) good thought na?
Dear Kumar ji,
How much funding would you suggest for an optimal trading account?
After all bulls effort this week
market high 5542 (last week high 5601)
market low 5401 (last week low 5472)
market close 5484 (last week close 5545)
Bye friends, have a great weekend. Thanks to everybody.
@Sujatha, very good idea,,, appreciate as new comers
won't get confused,,,,
Have a Nice week end to all,
@Fire, sir u holding yr shorts???
@sujatha yes we are luck very very lucky. Jaylalitha ji also invited modi sir firstly. Regarding PM no not modiji. We need him.
Advaniji must recommend name of only shushma swaraj. she is too good
@Rainmaker you had given link for chartlink free RT nifty charts. It seems they have closed free option. Kindly provide alternate link. Regards
@Sujata - you had also recommended this link earlier, any alternate?
@All Seniors Please provide link for any RT & EOD free charting site/Software. Regards
Nifty EWC map for today!!!
Labelling...
http://postimage.org/image/2wke13vwk/
Best of luck to all traders!!!
@Bizagra sir,
Yes.
TKDK- apart from this chartnexus,icharts,stockcharts.com
rajapvt - but pity, sometimes that "box" is not visible. facing problem.
Sir, - time permits delete all my comments. tks n advance.
Hi TKDK,
Please visit www.motivewave.com for free RT charts.
Please visit www.chartnexus.com for EOD charts.
Testing thru mobile
Sir - i deleted thanks.
DR - what's the model pls. enlighten gng to use for trading too??
Thanks DR for your reply in the morning
Thank you very much @Sujata and @Dinesh K
Sis Suj
any 3G of Nokia with opera mini :D
Sharekhan got mobile trading software
during emergence can keyin trade thru mobile.
https://newtrade.sharekhan.com/rmmweb/lbw/content/firststep.jsp
login and get link by SMS
@Dinesh K & TKDK,
Now Motivewave have removed their standard free version. Only 14 day free trial.
@Sujatha:
Ilango's critic says that this expiry will be down - meaning closure to current lows. Your ODD/EVEN year May-month calculations suggest positive close for May, 2011. Till date NS is down -4.6%. In order for your ODD year positive close in May 2011, to come true the NS should reach/close at 5980 on May 31, 2011, that is about 500 points from now or in the last three trading days, if Ilango's cricit is right!
@All For free charts please read my post http://www.dotcombuzz.in/2011/05/free-real-time-and-live-nifty-futures.html
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