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...
107 comments:
Good morning Ilango sir and JN family
An extremely critical day today - Charts have been updated
Good luck to all -
real estate showing some strength.
dlf, unitech and hdil holding up
unitech support at 34, 33.8
dlf support at 221 and 218
hdil support at 172 and 169
Dear Vijikrishnan!
Ur stop loss 5380 hitted so whats ur view now upon ur yesterday's statement, r u still long, exited or short now? Kindly reply:)
Vijikrishnan said...
Kumar sir,
There is a high possibility your sl will get hit. My macd is going up see the bottom formation in hourly charts. My aggressive long @ 5410 with sl 5380.There is nothing wrong with your sl rather as of now it is 5475 as per me
June 16, 2011 1:58 PM
IT index alone falling badly.... any specific reason
Hi Seniors, Good morning...
Just one question. Please ignore if it is too silly. I am always using 5 min charts for intra day trading. Is there a difference if we use some other time charts. I mean what is the best time chart to look at to improve our trading.
Thanks.
anyone tracking EUR? It's falling quite heavily, not sure whether it's near support zone or broken the levels
kumar sir- thx for early warning..will keep any eye. only thing is 30 min charts, it doesnt seem to bottom out as yet. i am looking at early warning signs there..
Infosys as mentioned the other day looks extremely weak - wave 5 has begun and should crash to 2400 in 1 months time
Nifty spot manages to stay below 10 ema in 5 min chart. NS should stay above 10 ema atleast for 10 mins
Yash for Intraday 5 mint or max 15 mint
First establish trend if trend is up
ignore short calls, moment the indicators says OS
buy as per 15 mint chart on first buy signal
and same if trend is down ignore buy calls
Have a look at VIX , currently at 19.90 (high 19.92)
kumar sir- 5400 call at 50 rs..will it come around 5350? am not not sure of call prices are calculated so confirming.
Have a eye on Vix, currently at 19.90 (High 19.92)
@Vanquish: The charts give a scary picture for bulls. I agree today's closure is very imp. If incase nifty breaks 5350, then a rapid drop to 5250 may be more of a possibility. Just in case to protect any longs, do you think we can hedge it with 5200 put which is still available at price of 19 (with SL of today's low-14)
Fire Sir/Mynac - Can you please comment?
Time for option lover:
Buy Nifty 5400 call between 63-55, stop loss 45 & target is 85-100 within 2-3 days:)
@vanquish
i may b wrong, infosys is setting to touch,
3400 around first week of september, 3800 around
in november...weekly charts not showing that much of wekness...
i am projecting this using momentum cycles and Gann studies...
Stoch 21,3 at 5 min chart swimming at empty pool. As of now not able find a ladder or Water to come up.
@Prabhat - Once 5350 breaks on a closing basis there is nothing in it left for the bulls - if you want to ensure that its not a whipsaw then wait for 5328 to break as well and buy 5100 put -- the move down will be quick (since it is likely to be wave 3 then)
All seniors... good morning sir.
Kumar sir ,, your nice system --- your best temperament and something else..... sir pls pls let us know that something else..... thx a lot sir.
@Anil - massive h&s on infosys weekly chart - neckline was retested at 2900 and now crashing
thats not a good technical setup but then H&S fails as well so you might very well be right
but i would be on the short side with stops at 2900
@all
stock specific, keep an eye on REC, fundamentally
good comapny..corrected almost more than 50% from
high of odd 410-420levels,
good pick around 160-180 levels
@kumar sir if you are in long its too difficult to sit tight with our JNsar position. :(
@jigs. My 1/3rd jnsar remains. whatever happens. promise promise promise :)
slow evolution:
https://picasaweb.google.com/113312275054870812803/BearToBull?authkey=Gv1sRgCKbr5q-4hcP0TQ&feat=directlink
Kumarji Namaste! what is SL for your longs taken at these levels. BTW i am in bus with you.
As per intra Fib, resistance are at 5388, 5392, 5396.
Dear Sahilraj!
Be honest to myself 1st then with others too is my secret of success. Rest, thousands people want to bless me by money for my homeopathic consultation but i request them to convert it into blessings, pray & good wishes. And remember Gauresh's quote of today "Prayers & Seeds are similar in nature…Both have nothing within, but have the potential of creating EVERYTHING."
Thank you Gauresh for such a heart touching quote.
Dear jigs! My buy is for a short term bounce back only, below 5350 or near 5450 i will be short again:)
Dear TKDK! My stop loss given with view today & on last sunday too with my weekly view:)
Sir,
Is 21hrsma is a reversal for intra?
Thank You Dinesh Sir,
The lights were down and hence was a bit late to respond.
Thanks Again
@kumarji, Thank You I got it
Photo and caption of the day for all blogmates
https://picasaweb.google.com/lh/photo/pWNL9R8qLcrwOpkGhVVUGBXJ74YEFxurDDODP-_F0rU?feat=directlink
DR sir, waiting for 10620?? :)
reliance broken feb 2009 low..now at 878 just noticed
cooldent- nice photo..
@Dinesh Rishi ,
Which setups you are using for intraday(nifty)...(ema,rsi,stochastic etc.,)
DR sir or any other trade tiger users. why is my chart in TT looking like this
https://picasaweb.google.com/lh/photo/qmea4cXwS-rGThEo6IPDdcPr-rF2HO9ubaf-ZskP7XM?feat=directlink
@all
http://imageshack.us/photo/my-images/4/niftyhourly.png/
we r at crucial gann support..
Thanks RC. Will be visiting pune soon :)
entering calls nows..my 30 min charts r also validating it.
cooldent said...
DR sir, waiting for 10620?? :)
How you know my buy order :(
Keep an eye on the sectoral indices. Auto, CD, Metal, Oil & Gas are still undecided. And DR is controlling BN firmly, which hasn't breached yesterday's low. So the internal strength of bears is a bit suspicious yet. IT is fighting a lone battle. But until the others led by BN is joining it, bears can't remain a happy lot.
CD: hey when u visit pune, i want to meet up with u if u have time.
Wow..............bank Nifty future showing 50 bucks up from my buy rates:)
@Cooldent,
Try increasing the number of candles.
Disclaimer -- I don't use TradeTiger.
@cooldent
use 5 days chart.....
currently u are using 1 day (intraday chart)
who all follow Gann technique here??
cooldent
press shift + d on chart of TT
Prabhakar said...
@Dinesh Rishi ,
Which setups you are using for intraday(nifty)...
5/21 with SS 3,5,3
Fire GM
BN and IT normally in opposite direction
@DR sir,
GM and thanks a lot. I really didn't know that. But you are the bears' biggest concern. :)
Any initial target for your BN long sir?
Booked 1st lot @10635 in BN futre in profit of 70 bucks & will buy again near 10600. FIRE supported my Bank Nifty today so who will stop, but what will happen when BN will take U turn? My system showing resistance now between 5440-5450:)
DR sir, i meant why the indicators not showing from beginning? Is it necessary that the chart has to be kept open right from market opening?
@Dinesh Rishi ,
Thank you very much for your selfless
Fire let BN cross 10675
today is Friday
Rest will decide on Mondays opening :D
cooldent
not required
in new version 2 you can see intraday charts for 1.5 months
in old version 1.0.4.9 for 5 days
Sat Sunday ping me on gmail and keep ready team viewr
will configure settings
You will find me offline on gmail but
9 to 9 always online :D
Thank you sir!!
sir TT update for 11am,
For Gann Lovers Video Tutorial-1 link
http://uploading.com/files/f3m4mb32/LESSON%2B1.rar/
@DR sir,
Thank you. Closely watching BN today.
@Natti
i am just a learner...about Gann techniques...
Kumar Sir
Rt hand palm itching :D
@kumarsir our level match 5353. @all traders knowing BB keep close watch on 5353 BB bottom for today. Close below bottom is very very bearish.
Dear Boarders,
I have few useful vidoes on Gann technique. I have uploaded few videos.
If you find interesting and useful I will upload more.
http://uploading.com/files/f3m4mb32/LESSON%2B1.rar/
http://uploading.com/files/e895cd1a/LESSON%2B2.rar/
http://uploading.com/files/56b6d582/LESSON%2B3.rar/
@kumar sir why banknifty not joining bear party?
Dear DR!
Why, mine is not itching....i booked 1st lot in profit of 70 so itching closed, booked profit in shorts of day b4 yesterday:)
@sujatha where are you? Nifty very near of BB BOTTOM. your view please
Nifty trading in a extremely narrow range of just 10 pts (5375-5385). Seems like all traders are sitting & watching. However Kumar Sir's level of
5375 still not broken.
Boring watch today. Looks like no tea & bun for me today. :)
Nifty in 15 points premium suddenly :)
Dear jigs!
My guru always learned me "Do not think that why stock or Index not going ur way, but find out that why u were not following its way". So i always want to remain follower of Nifty & Bank Nifty:)
very boring days
Limpish up move of Nifty. Not convincing enough for a
reversal.
When a new dentist set up in a small town he quickly acquired a reputation of being the latest kind of "Painless" dentist.
But a local lad quicky disputed this. "He's a fake ! " he told his mates. "He's not painless at all. When he stuck his
finger in my mouth I bit him - and he yelled like anyone else."
DR sir, Yes.
Written on a dentists tomb stone. The last hole he ever filled
5386-5390, 7 points holding Nifty's upmove.
@Sujatha,
Pl. switch of the grinder. Nifty not moving without you.
Dear Jigs,
Not only for stock market, but for all markets,
Price is the God....Price is the truth...
In the absence of price, how market does market exist.?
We have to trade what we see not what we think.
We have to accept the market. Market his suprme.
We have to bow our head to this market.
This is what I have been taught from my teachers.....
@kumar sir what an explaintion. Everyday Learn learn situation from you. Maza aavi gai
sell nifty below 5375 with sl 5386 target 5355 spot
Europian futures are - ve so E. market will open in -ve.
the above call is my trading stratagy..please be sure with your strategy before acting on the call.
@gaureshkaka wah wah. Aam j mane pan sikhvadta rejo.
@gaureshkaka wah wah. Aam j mane pan sikhvadta rejo.
Guru Brahma Guru Vishnu, Guru Devo Maheshwaraha, Guru Saakshat Para Brahma, Tasmai Sree Guruve Namah.....
Meaning: Guru is verily the representative of Brahma, Vishnu and Shiva. He creates, sustains knowledge and destroys the weeds of ignorance. I salute such a Guru ILango...He is real Guru of all of us, he teaches us daily & speacially on weekend.
@Kumar Sir
Well Said
Ilangoji, 12pm update please.
Very True Kumar Sir. Guruve Namah.
@Kumar Sir,
Kya khub kaha aapne...
I am bullish from here on in short term.
Last month when everyone was bullish and I was bearish.
I did hold 5400 put that time and market was unable to go up thereafter.
In fact when I came out of that put, market rallied.
This time, I am bullish and holding call option
so market can not go down till i get out of that.
any way, that part was just to irritate few people here....
I am bullish on the market at least for short term and expecting brakout on the upside.
Dear SaiBhakt!
Dont say that u want to irritate some people, it does not sound well.
Heart is beating like this at 5465 level ;)
http://www.youtube.com/watch?v=cOjgHIjbbDA&feature=related
@SaiBhakt: You are one of the kind. :)
I agree with SreyO
"sell nifty below 5375 with sl 5386 target 5355 spot"
@sam ji,
TCS i told is going to be weak at about 1200.
Now u may have seen the results.
dhanyobat prabhat da...
Reason to salute master - his words of wisedom. Yesterday master told me:
"5405 is holding presently but the backdrop as reflected in the TT is quite bearish. The correct way(Risk - reward) is to part book @ 5405 & 5365 but keep selling into intra bounces.
Till 5365 is not breached decisively, the uncertainity of a possible rally lingers. But to act.. to initiate a trade, stay with bears side till some firm indication is reflected in the TT. This cautionary approach is mainly because of Day/week/ Month TA being down."
This is exactly what is happening today.
VIX for a moment stayed -ve, the day's low still no upmove in Nifty Spot. Seems very weak.
@Dinesh Rishi ,
Which setups you are using for intraday(nifty)...
5/21 with SS 3,5,3
5/21 EMA or SMA?
Time frame of chart?
and what about bank nifty sir?
DKG
5/21 SMA
TF 60 mint/EOD
only positional long
ORB with open price
Intraday RSI - nifty staying firmly between 20 & 50 RSI while MACD in the -ve terrain. Charts depict one side movement for today (which is down). In case nifty closes below 5350 today, then
I shall become the driver for Kumar Sir's bear bus. Who all want tickets? :)
Dear Prabhat!
Its unfair, FIRE will be our leader bcoz he is real precursor:)
KST and nifty channel
http://220.226.189.131/SSKICMT/Upload/NewsLetterUpload/Highnoon-Jun17_11.pdf
New Post Done.
the make or break zone is here -- 5360 !!
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