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...
89 comments:
Dear Vanquish!
Not all bears stopped out, i added more shorts hedged with 5400 calls. I will cover Nifty shorts If it sustain above 5455 in closing & then i will carry my calls only:)
@ Fire,
Take Care...Goodluck
:) true that - me neither - i am going to buy 5400 PE now at 5440 -
Sir,
Is it possible that this wave is wave 2... as in the wave from 5604 to 5195 being wave 1 and this being wave 2 ... with wave 3 to foloow??
abb Upper Circuit hi laga doo
Shit got caught in the upswing with 2 lots of Nifty short.
Ny advice from the experienced traders.
N is tis Aditi Oberoi a advertising front.
:+D
Fire,
Odd to see such messages in cyber world unless one goes for "Sanyaas" lol
Anyways all the best...
Bhushan said...
abb Upper Circuit hi laga doo
Monday morning chalega?
প্রিয় ফায়ার,
আপনার অনবদ্য অবদান আমি কখনো ভুলবো না। আপনি ভাল থাকুন।
শ্রেয়
Crorepathi said...
Fire,
Odd to see such messages in cyber world unless one goes for "Sanyaas" lol
Anyways all the best...
101 marks out of 100 to Crorepathi
Fire what use saying good bye
We all know u can sit on system
without opening JN page
abb yeh bull sabke singh mar raha hai
bears are getting screwed,,,
looks like nifty will hit Upper circuit today :)
http://derbyscience.files.wordpress.com/2010/05/car-train-crash.jpg
whether nifty hits upper circuit or not bears are definitely getting a short circuit
Hi..FIRE,
Have been busy with some urgent works. Just read your comment.
I'm sure you will do well wherever you go. Everyone here will miss your inputs. You have brought the "Best out of people" including myself. I'm grateful for that.
Will always wait for your presence.
Best wishes.
ilango
See the call options :(
Totally Reversed my dreams :)
Fire - Really?? don't take this extreme step becoz of ME :) :D
pls. post once atleast.
Power of 5177 and JNSAR!!!???
DR-ji - learnt a lesson with pain "how to hold the position" :P
when to hold how to be with conviction and courage.. all comes once badly hit
Considering I am in car
5400PUT OI at 95 lac, added 50 lac today only
5500PUT OI at 38 Lac, added 16 lac today only
Dear Vanquish!
This upmove surprised me but not shocked. Yesterday when 5320 crossed once, i hedged with 5300 call & told everybody. Thank to that call, which saved my weekly earnings. Now i booked some shorts & some call of 5400, will exit short Nifty totally if crosses 5480:)
Fire,
have you vowed not to sit before system, not to trade, not to use mobile internet etc., etc.,
Only then what you said is possible!! I know even if you do not post (eg., RG sir), I know you cannot abstain from visiting this blog atleast once a day!!
Bushan - mm.. me under the wheel .. almost "sweet chutney" the man is our Dear" DR" lolz
Mr.Nandi said..
THURSDAY, JUNE 23, 2011
100 % traders are bearish - how can market fall now? ?
For every trade to take place there must be a buyer and a seller. Further, there must be agreement on price and volume. Yesterday, channels shown the results of surveys conducted by brokers among traders. Hundred percent traders are bearish now. That means there is no buyers. In such a situation market cannot fall / if falls it would be on thin volume.
POSTED BY NANDI AT 8:52 AM
Kumar Sir,
I am also taking break of 2-3 months from market.
Can you tell me a ''Do Or Die'' kind of option trade for this expiry?
Yes, i am putting risk of loosing 100% money...which i consider Free to me.
Dear Ravii!
SaiBhakt only can give Do or Die kind of trade, i am here daily to earn something for me & my group. If sometimes goes against, accept it & then goes for new trade. Market is best Teacher:)
Ravii,
Buy ambuja cement 130 put option at 0.75-1.00 for target of 14 rs. in this expiry.
do and die trade.
Kumar ji, Thank you. I have give him the trade.
hahaha - you are the best saibhakt !
m watching since 4 year and i tell u my expriance.. when ever open intrest increse then buy.. eg.. when nifty trading at 5550 in this starting month then 5400 put trading at 25-30 and open intrest that time 96 lacs .. and suddenly mkt crash to 5178 and 5400 put rocking at 150 only buyer same thing happen in 5500 call now today open intrest was 82 lac from 50 lac 3 days back now 5500 call rocking its up 850% ap prev close was 3.50 and rite now is 36:) now watch 5300-5400 put r both opwn intrest now 95 lacs m sure price will b increse.. sorry for long wrote
@Bears
Rollover still not started, next week will be a great
see-saw, and if shorts r much in the system, expect
nifty to revisit 5300 odd levels...
Disclaimer: no position as of now...
Last hope for bears 5520
SaiBhakt,
Can u advise using nifty options?
@ Saibakht,
Is that a do or die trade..?
OR
Do and Die Trade ... as you typed..?(Error typing)
:) :)
sir , now(above5457} 5464 , so end of down trend. pl explain,
can we go for positional long or wait till monday
There is no fizz with BNF? I wonder why?
Anyways, I did ask yesterday, if we might see 5400+ before 51XX? I remembered that there was a very similar bottom formation sometime back (26/5). Nifty had made lows, and then was trading around 53XX on 26/5. Every one of us was expecting the 3rd wave to start, instead the Nifty opened the next day with a Gap up and rallied on relentlessly to 5605 (3/6). That's what made me wary yesterday.
Once I realized that Nifty was closing above Day Low EMA, I covered most of my Shorts, and bought puts instead. When I saw Dow down by 225 pts yesterday nite I was shocked that I had withered away my Shorts to Puts. And when I saw SGX trading 30 pts higher I was even more shocked to see the dramatic turnaround during the nite.
Prashant - now watch 5300-5400 put r both opwn intrest now 95 lacs m sure price will b increse.
Means - the price is "low" now. price will shoot up higher premium??
Nifty short covering is going, on and Average buy price
of NF is just 5419.65,,, so so so it is just panic short
covering, so real buy comes when????
nifty purchaser is only 55000 and seller is 550000 why?
5420.53 is average NF buy price now,,,
Only Saibhakt was right in expectation of a Bull rally but hearing everybody else he changed his stand 2 days back!
@Llango Sir,
It was actually type error, but may be that get correct at the end.
I am good in such type of trade.
Kumar Sir,
I booked out my 5400CE at 100.. carrying my 5400PE (free)
:)
@Saibhakt,
i am yr bhakt.
@sandy,
Ya, i was bull but not bcoz of everyone else I changed my view.
I do not beleive that it is bull market now. and I do not change my view upon listening to any one.
However I do not have any position as of now.
I am lucky in the sense, that I do not loose trading capital in the market.
However I earn a lot when I am right and I lose a lot when I am wrong.
So over a period I am on the same place.
Just taken some put option of ambuja cement for being part of the market.
Master closing Bell plz
if possible something on mean reversion
Average buy price moved to 5422.1 now
short icici bank at 1065 (spot) stops at 1080 target 1020
Dear Prasant Shah,
Can you please answer Sujatha's question? Even I have the same question.
Regards
saibhakt sir - i have bought 130 put ambuja cement with small amount of money :)
Wow….. What a Market…surprised, shocked, every thing….since last one week 99 % analyst , TV expert,etc all bearish view…and Market once again prove wrong to everyone.
I also saved by NIFTY Options, I long in 5200PE and 5400 CE, I always buy every month, before one week of expiry day , both Call and put, 85 % success rate.
Prashant shah - If u hv not given answer " i will took SANYAS" from JN.. will not visit again.
(see smile on 99% of the JN members) :D :)
@Vanquish: What do u expect would happen next week?
5400 puts have completely decayed out while 5500 call OI
has rocketed to outer space. Do you see nifty crossing
5500 on monday?
large bottom and top will mostly be made in the 1st or 2nd week of expiry; whenever that happens.
It will not be closer to expiry.
so definitely 5200 is not the bottom over longer term horizon.
What a rally. Nifty Futures Stochastic (35,3,3)
on the 5 minute chart never came below 77.
Yesterday, when Nifty bottomed out @ 529X,
the Stoch had a value of 18.
yes sujata and lakshmi 5400-5500 put will b increse.. personly i said i bought both put 5400-5500.. at 21 and 55 and wait for expirey hope u will get answer of ur questions
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Ilango sir, plz give final words for today..
@prabhat - pattern and trendlines have been won by bulls - most of them have been violated -- the only saving grace is the possible start of wave 3 - give the trendlines some room for follow up confirmation on monday
Postponing Do Or Die Trade to Monday :)
@vanquish,
gud job. u will make lot of money with that trade.
If you follow your methods without a bias, you'll never go wrong.
Forget about what the market will do..Let it do anything.
You read the prices correct..unbiased and "act on it".
You are allowed your opinions but change them when warranted.
Only the "Timid" will lose in this game and blame everyone else.
Learn to accept a small loss.
"5471"- Week Close ema - is where the action is going on.
Need we say..stay Long.! You should have changed colour when demanded.
It is still a corrective rally as in a 2 nd wave starting from 5944.(Irregular). BN has done it clearly.
Kumar Sir's 5480 tgt only a whisker away .. :)
@Sujatha,
Also notice 5100 Put standing still at 2.30 and low of 1.95, not disturbed by this upmove at all.
looks like jn family members has bought 130 put of ambuja
prices up in last 15 minutes gone to 1.20 level.
Richard sir, Wt abt that rel fut hedge? hold till expiry?
Prashant - thank u very much.. me too hv already. if gap up means i hv 2 run up again
hahaha :) i bought it at 80 paisa - the first one to enter
great words Ilango sir... thank you...
praba - pls. put ur view too i am utter "0" in options.
ஏதாவது டாஸ்மார்க் பிராண்ட் போட்டுவிட்டதா நிப்டி இந்த ஓட்டம்
Shaibhakt this is a short covering rally. Nifty still rangebound.
Kumar Sir
a word from your side
carrying anything?
@Sujatha,
hahahh! 4 days left. I still feel there will be a chance for bears to cover if not profit..
In hourly chart 10 EMA 5399.5 and 100 MA AT 5409. if ns fails to cross, the there is a possibility of a fall. next week going to be interesting.
And spread is above average.
Sir,
Monday BN JNSAR could be?? Pl
Dear DR!
Booked 50% shorts, 100% 5400 calls & hedged 50% with 5500 call so only 50% shorts carrying with hedge. Bank Nifty shorts also covered 50%, but on short side still:)
@sujatha
I am expecting nifty to test, 5495-5500, before
retracing this upmove to 5430/5400 levels...
may b today or on monday..
expiry week will b watchable this time, more change
of opinions, since if rolling started above 5400,
expect 5300 on expiry or a day b4 it...
Bye Sir and all
bye sir & JN traders, have a great weekend....
Last hope for bears 5520.
Dear FIRE,
... now reached the parting of the ways....
nevertheless....all the best... we will miss you...
kumar sir u r the only person i know who went home with out loss
while being in bear coat even after a rally of almost 3%.
hi guys,
dont mean to sound egoistic. but i was the only
one in the bull camp while everyone was bearish. and i had
been mentioning the same on my blog repeatedly. (had given a buy at 5300 odd)
AND,
markets have given a thundering rally!!! 5400 pe was having
the highest oi which got broken and which has again been
conquered before expiry. usually at such times that level
becomes a very imp support.
I remain bullish on the markets.
Market is supreme. It teaches lesson to everybody
who makes statements like 4800,etc and also saying my
my system has given a sell call.It is all hogwash. Just
go with the flow. If you want to have sl on closing basis
( hr or eod), your money for margin should be good. These
guys should revisit their trading strategy. As Sir, never
try to worry about market direction.
Nifty's Broadening pattern: CLICK HERE
Hi ALL,
keeping technicals aside, seeing the pattern of head
and shoulder breakdown of nifty, the right shoulder
previous high (5595), till it is crossed we can short
and keep shorting! PLEASE SENIORS clarify this point!
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