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...
51 comments:
5500 put starts showing buildup in OI, which is unwinding since morning..
...
Reposting
Welcome Fire Sir to lead Bears..
Sam,
Bring a new low in BN fut. and a massacre of bulls is promised. :)
Just an observation, Bank nifty making higher lows in
5 minutes...
@sam,
tcs now broken as told eariler.
@stkgrp
ambuja cement 130 put is in huge profit. already 4 times.
Re Reposting :)
Ilango,
whats the likely target of wave C.....as you have labled e now
@ Manish,
I have labelled the dn move from 5605 to 5404 as "abcde" of "b" bottoming as long as 5365 is not breached. In such a scenario, the "c" upmove could be either truncated to 5500-50 or cross 5600.
Presently, there is no sign of that "b" ending.
Today, Very Good Marketfor Jhatka trading.......
@saibhakt: remembered today morning about the put
you rocked there,,,
nobody buying puts??? or writing calls?
Another Verdict
"Presently, there is no sign of that "b" ending."
:)
Anybody watching Trade range volatility chart, today's mid point between upper side & Lower side bands is 5447.50 for NS showing this levels since 9.08am today after pre-mkt close level.
I don't want to waste others time by posting unwanted info since no feedback from others.
Regret for wasting JN blog mates valuable time.
Since Ilango sir mentioned his comments, I posted hoping that useful for others. Thanks sir
Chandra
Ilango,
thanks :)
2 doubts :(
1st if 5365 is crossed then?
2nd above which level will we get to know that wave c has started.
Double top on hourly chart, If low broken...everything will melt like Choco bar:)
All the hourly lows today are fascinating --- 5404/5411/5406/5406/5405/5407... Now if 5400 breaks? :D
A Close Below 5435 Means The Right Shoulder will extend the Declines more and more
L&T, Infosys, TCS, Bharti Tele, Tisco near day's low:)
Ilango sir, if we close near the days low can we add shorts ??
@ Manish,
EW helps us to have a road map. We can never be sure that a wave has ended and another has started till the previous wave was retraced. But then that will not be of much use for trading.
I would say, if it clears 5448 & 5475 as an indication of start of that "c" wave. Going long with such a perception is one of "aggressive trading" with inherent risks.
A close above DEma @ 5465 would be better to be followed with a confirmation of a close above DHEma(5495.
If it breaks "5365", our alt.2C is marked @ 5605 and the "abcde" fall may be treated as a "leading diagonal" to lead us to deeper falls.
I have witnessed, often, the perceived corrections suddenly turning to deep falls. TT shows such a possibility. It will also show any reversal.
Max PE OI at 5400 making market resiliant at 5400. Its good to see Market near 5410 at 3pm. Kumar sir close below 5410 possible now.
who are the 3 bears enjoying the bear party??? :P
http://lalettehandmade.files.wordpress.com/2011/04/6.png
who are the 3 bears enjoying the bear party??? :P
http://lalettehandmade.files.wordpress.com/2011/04/6.png
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Count me in too
Dear Natti!
Possible or not possible, cant say. But definately below 5410 close or below 5400, it shud b like stampede in Bulls camp:)
bhushan- welcome we need to book a hall now...
Ilango,
Thanks :)
KUmar sir, book ur charter to baroda!!
I am holding short positions kumar sir.
Thanks for your levels specially SL.
And the party begins...
30 min charts not sign of reversal..nifty touching 20 ema and falling back.
kumar sir....
thank your sir....today is a profit day, kind ur valuable
post sir
http://www.youtube.com/watch?v=mBlHT-c65-s
Dear Cooldent!
No fear now, we are under the big umbrella of FIRE sir, i am coming there or v will meet in KOLKATTA, head office of our leader:)
Dear Natti! enjoy & keep it up:)
Sam didn't keep my request yet. So straight fall is waiting yet...
@Ramcharan
@Bhushan
Me bhi Bear :)
@ NF,
Adding shorts on every intra rise when Technicals are "down" as reflected in TT & trading below most emas is the correct way ( a la haircut ).
Selling closer to the lows needs bigger SL. Till 5365 is not broken, market could have few ST surprises.
I feel gud bcoz my funds will be converted today's NAV.
I have trading position in tata motors call which I am holding.
@Cooldent
@Kumar Sir
Let the Malt flow Then :) And make Anna Hazare
Proud :) of his statement :)
5400 puts was having highest open Interest, what will happen to put writers now:)
Dear mohan! Congrats...make it habit of profit making, keep it up:)
Bank still in control no major damage done by beers
-35 points only :(
thank you sir for the reply... will wait for 5365 to add shorts then...
@Kumarji,
You are the official leader of the Bear camp. Even when I switched camps, you didn't budge. And now again I am following you from yesterday. But please break BN to a new low now for your disciples.
On the other hand, market has a tendency to break major supports/resistances on opening gaps. So perhaps a closing below 5400 today and a gap down below 5360 would be ideal for the bears?
Nothing will happen to Bank, its under the SURRUR of DR beers:)
Hawala gone, what next now?
Technically every body should be in the Bear camp by
now.
Dear FIRE!
Tum agar sath dene ka waada karo, mai poore june Nifty ko girata rahun. Tum positional shorts banaate raho, Mai trading karke iska band bajata rahun:)
Tomorrow open @ 5350......may be possible.
I am in bull camp for june series.
has sujataji joined bear camp?
@Kumarji, Closing likely to be below your desired level of 5410. any last remark
generally I am bullish on the market for whole year now.
Dear saiBhakt!
I guarantee you, one day u will success sure but do predict all 365 days either u may miss ur day:)
Dear TKDK! I m holding tightly:)
Holding Shorts tightly.....
@kumarji, so am i cheers :)
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