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...
132 comments:
@PS
i use ADX, with TT combined... i mean in sideways
trend as per TT when it is trading in between days high-low EMA,
and ADX falling in daily is a sure tool for option writing..
When trend is about to starts, i usually observed ADX
remain below 15 for 10-14 bars, it is a warning sign
of coming trend in hourly, so i just start to focus on TT, so that i gauge where market taking suppport or resistance at monthly(5 H-L Ema's) or
weekly(H-L Ema's)...if it favours trade, with sir's EW, then it is best of trade..
i trade in options only..no futures...
Also you can hav your set of rules, as DMI crossover with SL as high or low of bar on which crossover started...good for options trading...
@PS
also i focus on %jump in value of ADX, i mean going
from 4 to 8 is a strong sign of trend rather than
going from 4 to 5...
Bank Nifty future gave 70-80 points from 10780 within 60 minutes:)
Dear cooldent! I love to travel, i never travelled south India. I am trying to set my fingers on laptop & then i will travel RAMESHWARAM 1st.
nifty below DLEMA...hopefully we close the hour below it :)
Kumar sir- Rameshwaram is an amazing place. i went there 10-12 years. be ready to take a holy dip in d cold water of the wells in the temples as per the tradition.
also, wahan jaa rahe toh lanka(nifty) ko jalaa ke aayiye :)
@kumar sir. Do visit kerala too when u get time. Its beautiful during the monsoons. Just came back day before yesterday.
@anil thanks
@ vanquish
whenever u find it convenient its ok.
cooldent: what wud be avg $$$ if one needs to visit there for 2-3 days??
Dear Cooldent!
As i will be comfortable to trade on my laptop, i will start travelling. I am very fond of travelling but trading dont allow me, thanx for suggestion:)
Ohh Costal karnataka and ghats is a good place to visit now.. and for next 2 months.. :-) if u like wet weather along with hot coffee.
@Ram Charan. Just like any other place in India. Its not very expensive unless u want to stay in resorts which i totally dislike as a tourist
@KUMAR TECHNICALS,
Bhagavan Ramana Maharshi Ashramam and Arunachala temple in Tiruvannamalai (Tamilnadu)also good visiting places.
cooldent: so where to stay there? do u suggest motels?
Kumar Sir
Guide free of cost
with own standby laptop
:D
+ve div in 5 min chart also nifty at DLow ema
@RC. Yes. let me know when u plan to go and where u r planning to go i will suggest some places. I belong to kerala. U can mail me for details.
now want nifty below 5460 then??
now my nifty s.loss 5495
Maasha allah e-Bank Nifty.....Sujatha mam, send me RASAM etc., ur shorted Bank Nifty is 135 points down:)
@ Dr. Kumar
When you are at Ramesaram do not forget to go to Dhanushkodi.
Travel through that motorable road - on either side vast bay of bengal just hitting the road - will be an unforgetable experience.
There are 32 theerthams. They look unhygeinic. Sorry I did not take any bath. The lodges have basic amenities. Economical. Hotels provide usually south indian dishes. You may get all that are described by Sujatha madam.
Most beutiful place is undoubtedly Kerala. That part of the country is probably, the best in the country. Travel from Trivadrum to Kasargode through roads, taking breaks wherever you feel like. Spend at least one day at Kuttanad.
Cooldent can arrange a day of stay in boathouse, though a bit costly.
Wishing you a great experience in south.
Regards,
LV
@Sujata mam,,
L5 day 5465???
Dear LV!
Thanx for suggestions, i will go thru whenever possible. I have number of patients in south India so no issue, they all are very keen for my arrival but i dont know when it will happen?
Dear Sujatha!
I dont follow any fund, i suggest you to invest ur money in Power Infrastructure & oil-gas stocks like Powergrid, APIL & Petronet LNG, Gail, IGL etc. in every fall. Ur money will multiply in these stocks in coming years:)
Sujatha Ma'am
Please guide why 5437, why not 5440 or 5430? Is 5437 a specific reversal point, if yes, then please guide about the parameters used to derive that figure.
Regards
shekhar
Ohh ,, i am holding short in nifty,, as per chart,,
Tata motor bought
The following stratergy would give great return with minimum risk if markets fall heavily
Buy 5400 Call 1 Lot
Buy 5600 Put 1 Lot
Sell 5600 Call 1 lot
Max risk 2017/-
Reward expiry @ 5000 - 17800/-
@4800 28000/-
Attached the image of perfomance of the statergy.
Performance
Sujatha Ma'am
Thanks for guidance, but why did you say that "breaking 5460 is tough". How did you reach to that conclusion.
Please guide.
Regards
shekhar
Kumar sir -sorry i missed ur post. thanks for ur views. It;s my MIL's money. So y risk?? i will go for FD :D :)
Shekar - false breakout chances r there @ 5460 downside. let me see. watchout.
what i posted is "purely for INTRADAY"
vix is on on day high 18.77
thanks Kumar for your very kind consideration on my request
regarding BankNifty.
@Kumar Sir
Party remains due at Baroda -- gujarat
Thanks Sujatha Ma'am
After a loss of nearly 30k I have finally made some profit today. No matter how hard i studied my stop loss was always hit. After mkt went up yest I thought it was the same story even after following JNSAR.Thank you Illango Sir, Kumar sir and D.R. sir. After reading your comments here I have got some faith in systems trading now. Lot to learn but will not give up now.
Thanks
Dear Parimal!
U r welcome, Bank Nifty looks in hurry to break all supports:)
Dear Powertrade!
Dont lose hope, tomorrow may be the day to set our party date in Baroda. Only FIRE sir's lose grip needed, he is holding it very tightly & Sujatha also favouring him now:)
thanks Kumar for BankNifty.
Arvee u have done a commendable work on EW Wave and astro
looking for see more such work from u
VIX at 18.89
Kumar sir :D :) lolz 5460 touched now "Q" false breakout or real breakout?? time will tell
piramal - thanks. "looking for see more such work from u"
good line, i forgot 2 mention in his blog.
Nifty in sell trigger with s.loss 5511...
bata india Sell trigger s.loss 568....
Tata motor buy trigger s.loss 980....
June 15, 2011 11:30 AM
Now nifty s.loss 5485
Bata & Tata motors same
@ Nilesh,,
Sorry late reply,,
icici bank below 1045 sell trigger 1st tgt 1028
& s.loss also come down
I would watch out with extreme detail the 2 bullish patterns in play :
Bull flag will be violated only with a closing below 5420
Falling wedge will be violated with an hourly closing below 5410
if these 2 break it is likely that wave 3 will be in progress -- till then no aggressive shorts to be taken
5455 weekly L3 cam level
@Kumarji,
You have already made the bulls' grip loose. And it will become looser if nifty sustains below 5457. Below 5422, they can as well be down and below 5380, they will be completely out. :D
Even Eod chart giving sell signal from today with s.loss 5500
Now s.loss for nifty short 5475
Dear Powertrade!
If u hedged Bank Nifty in morning then ur call value will be almost free here or after some time, I am naked short so enjoying double.
Dear Cooldent!
Ur hedged Nifty is also smiling now, only 5420 have some burning fire....once it will go, no support will stop me to go Baroda:)
Dear FIRE!
I know ur power so cautious but once it will trade below 5420, i will jump like HANUMAAN JI.
@FIRE - very well said :)
Kumar sir, Most welcome!!
Kumar Sir,,
Welcome to BARODA,, my home town : D
DEAR Crorepathi,
i dont understand option trading. please suggest me
reading material of practical use. thanks
parimaldevnath@rediffmail.com
@Kumar Sir
Now no Hedge when BN moved below 10730 i sold my calls now naked short in BN part covered at 10660 and rest holding
Dear brij!
U r in Baroda...No no, then scarry. U & DR were allotting hospital room number yesterday to Bears, may i know my room no:)
Good Powertrade, now u showed some muscle power.
@Sahilraj Who is Camrilla ... I know Katrina.. LOLZ
@ Kumar sir,,
Yesterday our tgt achd,, today for bulls room reserve from morning...
Now today above 5480 again for bears.....
@ DR
Have you gone on long or not yet.
Thanks and regards,
LV
Dear brij!
Oh...U r on daily basis then no problem. I fear alwaz by positional operator, so if 4800 comes then i wl b in Baroda sure:)
Dear DR!
Have u checked my PAN PARAG mails?
Closing level for today may be 5520.
Friends, high/low emas at 2 pm please. Sir is not available.
looks like I am only bull here.
Anyway I have been always approx. on opposite side.
Yenkatapathy = Yes (XL weekly open)
Kumar Sir = Yes
no supply since yesterday evening invertor down
charged laptop from other colony again half hr backup left
@DR Sir ... What is XL weekly open?
SaiBhakt said...
Closing level for today may be 5520.
@Saibhakt I think it is typo may be 5420..
XL=SL
@ Suji mam,,
Give us 5437 : D
Tata motor can happy Saibhakt
Kumar sir do you see any small pullback of 30-40 points from here .. should that be traded? ( Last two days of ur opinion at the closing made me profitable.. Thx a lot sir.)
@DR Sir Do U mean SL =10674 weekly open .. but presently it is trading below that?
@SAM,
SaiBhakt said...
looks like I am only bull here.
June 15, 2011 2:21 PM
@Prabhakar I was kidding.
Dear sahilraj!
I dont focus on short term picture, 1st see bigger then come to shorter time frame. For me, every rally is a wonderful opportunity to initiate shorts with stop loss of 5570. Now 5520 has mulitiple resistance on hourly so this 5520 also will be very stiff resistance if saiBhakt allow:)
below 5449 close will be the first indication of beginning of downtrend. below 5417 it will confirm its downtrend and below 5372 fast fall can be seen.
@brijsolution,
I loved the name --- "Suji mam"! LOL
In bengali, "Suji" means "Halwa"...
@SAM ,
I am back bencher!
@Kumar Sir
Bring Home "JACK DANIEL" now
For Suji mam --
http://www.indianfoodforever.com/images/gajar-ka-halwa.jpg
@ Fire sir,,
: D
Cooldent- thanks. Just saw ur post. will email you.
@DR
Was not weekly open 5470?
If I am wrong please correct me.
Thanks and regards,
LV
brijsolution said...
@ Suji mam,,
Give us 5437 : D
June 15, 2011 2:29 PM
Now 5443 hit,,, enjoy
If Bear operator has to distribute some more position then 5435 will save today & if their quota is full then nothing will stop bears. They want to print a sharp piercing pattern:)
PLease someone post updated DLEMA and other nos
thx
Further to the below post in the morning, gap between 20 and 50 ema widening and one can book profits around 5389-5410 area.
Ram Charan said...
nifty in 30 min charts
https://picasaweb.google.com/113312275054870812803/Jun152011?authkey=Gv1sRgCP_MgqzahrM7&feat=directlink
June 15, 2011 10:35 AM
Today bears are not in a mood to leave the Show.
Dear FIRE!
ILango sir not available today so pls post levels.
Dear Powertrade!
Thanx for mouth-watering offers:)
@Fire, Good Catch :)
@Sujatha, just for fun ;)
Now my s.loss 5465 for shorts & above 5465 i wll buy nifty
daylema 5463
3pm h ema h lema 5465 5459
@fire
i m short on tata motor should i exit now
@Kumarji,
Any gap down possibility tomorrow?
@Prabhakar,
:D
thanks piyush
Dear FIRE!
My all lower targets on ur mercy, hope u will lose ur grip now below 5435 & finally below 5420:)
@Kamal,
I don't track stocks. The other seniors could help you in this regard.
Chanting Hanuman Chalisa...
closing below 5437 pls... ;)
Tomorrow Gapdown expected?
DOW Fut: -61
Hands Crossed now :)
Tata motor 995
Hanuman may bless NSE building
@Kumarji,
My bullish hands got very slippery. So in some shorts for awhile. A closing below 5459 would encourage my position. Now only if you decide to rule as the leader of the bears and RBI hikes a good amount... :D
TATASTEEL : is not looking Strong to me...in fact day by day its chart is getting weaker & weaker
Target 490
Regards
Anybody know what the Daily Low Ema for today is when
today's number is also included.
Bears are looking at bulls like this....
http://www.two-shay.com/img/articles/bear.jpg
rishika. by-da-way, What are you doing Saturday or Sunday?
Contra view(not to be taken seriously): 50bps rate
hike factored in today's fall. If it will be 25bps
tomorrow, +100 nifty! And if it is 75bps, we are as
such in bear market.... :)
SAM said...
@DR Sir Do U mean SL =10674 weekly open .. but presently it is trading below that?
Fut is 660 will take chance :(
kumar sir good afternoon
watching ur calls great as usual
nifty dancing to ur tune
mishraji - there u r :) :)
kumar sir views 4 tomorrow pl if nifty sustains ur 5435
was out since morning so just bothering u
thanks
sujatha ji good afternoon
Dear FIRE!
RBI may give easily .50% & thats enough to bring down Bank Nifty 500-700 points. Now i am praying to close below 5459 to lead u my camp:)
Yes, Sujatha. I am as usual here only.. Lazy typing :)
Dear Parminder!
Sit tight on shorts, By 2moro FIRE will lead Bear's camp so no problem. If it happens then H&S will give us 200-400-600 points:)
Now only Suji mam is needed for momentum. :D
mishraji- the same view i received from a senior person yesterday tself. just an alert he mentioned. but it's right only i feel. as nifty closing will be around tomorow's cam intra long level i believe.
PS : as per my rough calculation. let us see
@Sujatha,
Are you carrying long in NF?
now closing will be below 5459 for sure bcos fire.....
is also there
fire - very much available..but i will be "away" if i took contra view. :)
will not post much..enjoyed all u people comments :)lighter side :D
for tomorrow one can short here with sl 5465..target 5420 and lower.
Final Update:
Nifty s.loss 5470
Tata motor s.loss 982
Bata s.loss 568
Bye to everyone
@Prabhakar - carrying my morning SL is 5412 :( as you know well i already said always my false breakout level whether short or long..will be 20-25 points. (floating)
@Sujatha,
Thank you for your level 5437. I booked 50% in NF @5452 initiated @ 5440NF
Thank you Mr.Kumar closed my shorts @ 5440 NF initiated yesterday @ 5516NF
Bye Sir and all
What is the EW case / chances that markets bottoms at
5380-5410 tomorrow and again rally for 5700.
Few days back Ilango sir told that market can take
supports at 5380-5410. Is that case still valid.
@Kumar Sir
Can u please prescribe some medicine for knee joint pain
as my mother(aged 55) is suffering from same.
The situation only agrravated during this cold weather.
Thanks In Advance..
May God Bless U..
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