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...
40 comments:
Dinesh Kumar, Welcome, You said return back after long break, and said expecting that NIFTY will go to 5877….wow …I think we don’t need to expect …we just have to follow TT and chart, example, yesterday was great breakout…as Ilango sir mentioned in premarket view nifty will go up if break 5636-45..All the Best
thank u sir,
s&r hourly close below 14 sma+ jnsar will follow
what ur figure is, 5612 today. have not been able
to use ew successfully yet so dont use it for entry/sl.
Gm Illango sir,
Sir can we say Nf complete its upmove at 200SMA(5740 day high)
Now a correction for this upmove takes place,just Like Bank nifty.
Three Nifty levels for bulls to defend: CLICK HERE
shabsaif,
i am also a follower of TT and sir's analysis.some
blind statergy but not based on technical analysis.
sorry for what i told.
dinesh
@ Musti,
1. A five waves seem to be over from 5196 to 5740.(It could move higher too if the 5th is relabelled-Courtesy-Piyush Sharda).
2. Negative divergences appearing in all Hour TA.- appearing only., will get confirmed with a prices breaking below 5675.
3. Major channel resistance @ 5735 has not been decisively broken.
The above observations for an aggressive trader.
Prices continue their HH & HL even in Hour T/F. Break of 5675 would give a LL.
Illango sir,
what is the intraday trade for today?
Thx alot sir.
It gives clear direction.
i create a agressive short with sl day High
sir would it be sign of weakness below todays low of 5702 spot and 5715 nf?
5699 now an important no. for the day..
daily high EMA a well as pivot...
@ Prabhat,
Inability to clear 5743-200sma at the open despite +ve world cues was a ST weakness.
Break of 5713-ORB low was the next weakness.
Break of 5700-Day pivot would be the next weakness.
@ JayShah,
Break of 5702 would be a sign of LL in the intra chart- weakness again.
Remember: These observations are for ST traders only.
Ilangoji, today CAM sell level is at break of 5672 with a target of 5614 intraday and stoploss 5701. This perfectly matches with your level of 'break of 5675'. just another confirmation for that point.
Namaste Ilango Sir n Blogmates!!
Sir can you suggest me 3/4 trading days in the recent past,
which according to you were very challenging from plan to trade
execution point of view.
Trying to back-test a system on random trading days.
Regards, BNS.
just FYI..
S&P CNX Defty..yesterday closed above 200 DMA
How does one calculate ORB ?
@smita
just watch all the links at right side of page under
Always Start Trading with these
@ Badri,
Thank you for your views.
@ BNS,
Any day would be challenging if we are biased with opinions & basing our views with our positions.
Apart from that, the challenges are always in the "sideways market" as the "Form/ pattern" of a correction is quite unknown to us. Some click as per our plan and some don't. Trading light & keeping a small SL on those trades will keep your account in good health.
Another challenge is to set a target. In EW, waves sub-divide when you think, the move has ended. And in overbought Technical conditions, market may continue to stay overbought.(This part has been overcome with a new approach to oscillator reading)
Finally, "Believing in our most obvious observations/ simple studies is always a tough challenge".
Most feel, financial markets are complex. But it actually is quite kid stuff. Discriminate to stay off the market when it is "brooding" and get back in when it has "made up its mind".
@Badri ,
Can you please check target level? I am getting 5623 NS
Today's spot pivot range is 5685-5713. Opening above
the range and trading inside the range is not
suggesting any weakness so far to me..
Dear Sir,
Honored for a detailed + highly effective+informative reply
from you.
Forever in gratitude.
Regards, BNS
Break of 5700,I hope it will break 5675 too
Prabhakar, yes. there are very mild differences in the formula for target and it is safe to take the lesser point for target as you have given. I normally refer to this; http://www.icharts.in/stock-glance.html?symbol=nifty
@Badri ,Thank you
@skmishra, Please open your mail box and answer when you have free time
@BNS
Hi, good morning. Test the system with July, August and September 2010 data. All kinds of patters and emotions in market were experienced during this time. Good luck
आज ठीक जानवर को जगाया
5675
Fingers Crossed
Dear Kumar sir!
As per ur view i shorted Bank Nifty & nifty in morning,booked part profit of 100 points in Bank Nifty & 50 points in Nifty. Kindly tell the levels to book all profit. Kindly guide as you were doing in past, i am ur blind follower & fully trust in Master's & ur analysis.
Raj
thanks sir for ur prompt reply
Thanks Anil
I got it ..it is the range in which market trades for first 15 mins...any breakout up or down is ORB .
Thanks again ....
@prabhakar : mail replied
Dear Ilengo sir, I M OBSERVING ORB LAST ONE YEAR...AND i made a conclusion THAT TAKE ORB OF 9.15 TO 9.35 FOR TRADE TILL 9.55 AND ORB OF 9.15 TO 10.10 FOR REST OF DAY....IT IS QUITE GOOD AND GENERATE LESS FALSE SIGNAL...
All newbies, just follow one simple system, JNSAR. sure will make u rich, slowly and steadily. Thats my experience.
GM Ilango Sir and friends.
Weekly levels which was posted earlier !!!!!!!!!!!!!??????????
5415-5464-5513-5542-5570-5584-5599-<5643>-5687-5714-5742-5790-5839
Even mid points also giving good Supports/Resistances.
Bye
Chandra
@ AJ
Thanks for the reply.
Now I got my hands full for the weekend :)
any news in SBI - suddenly spurted up?
Kumar sir,
Nowadays you do not reply our mails,kindly give next profit booking levels atleast. I am also short & having decent profit as per your morning's blog view.Kindly reply sir..
Anuradha
New Post Done.
Sujatha. yes. accepted.
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