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 ... -
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Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor...
85 comments:
@Shabsaif,
Thanks for the suggestion. From next series i will do it.
@Ashish,
Thanks. But the credit should be shared with Mr. Mok/Delta(OJN),IT and I Missed(how could i?) Sanjay Bhai(MarketPulse)
Ilango sir,
there is no entry level conservative trade in the premarket view, but JNSAR is down…..but at the action, you have given buy and sell……so should we take it as no trade for the time being, until buy side trigger…..i have booked both the lot yesterday itself sold 1 at 5610NF and another sold at 5600NF, covered both at 5560NF……as I’m not well versed with rollover……
can you clarify the action that you have mentioned in premarket……
thank you
saz
5520-50 Sma.
Market stopped short of 200 sma on few occasions with so many "Hawk eyes" on it.
Similarly many would be looking for the 50-sma for short term support..!
NIFTY - CHANGES HAVE BEEN MARKED IN YELLOW
Time
Target
Trend
Reversal
Trend Implication
SHORT TERM
5465
Down
5702
1-5 Days
The short term momentum indicators failed to get into
buy mode as Nifty stayed below 5680.
This is the second failure to break above
the falling trendline from the Nov highs in July.
The 3rd failure also since Jan.
Having potentially completed a running triangle since
Jan at the July high the risk is that wave C down
to at least 5057 has started.
The short term target is of iii=i=5465
for the next 3-4 days from todays high.
Gap at 5532 almost filled --- What Next 5497 :) :)
@Ilango Sir,
Will it Stop at 5515 as since morning no bounce was more than 10-15 Pts ?????
Also the Rsi and Stoc's is getting overbought in just 5-10 points rise
@ illango sir ! does that mean that a trade for upward momentum can be initiated at 50sma?
sorry if it is a dumb question
following this blog for long,, but still into making losses.. i dnt know my implication of the things get wrong becoz of my fear to lose money
@DR sir,
will Sujatha's 5540 give support again or still you are destined for your 4 digits?
PT,,,
Relince 965 break karo bas
ओ जानेवाले हो सके तो लौट के आना
@Brijsolution
Now it is Tricky hour --- So all shorts must have Sl of 5555
@Prabakar
4 digit any new trade ?? :)
GA ALL
Quote of the day," Dines Rishi is to world what Sir Rajnikant is to Chennai" Mind it!!!!
Any bounce till 5555-5560 can be shorted again(downward sloping line in line charts)
दिनेश भाई के शब्दों का क्या मतलब निकले!?
@PT,
DR sir's today morning post "ru marching towards four figure?"
PT,,
My eyes on gvkpow if nifty sustain above 5560 ns
12 Jul Fut Low is 10975
if held double bottom and bounce back
if broken than ...............
yeh thats right i thought there is a trendline support coming in and then its also giving oversold signal.. might be foolish
and then market has bounced from here almost last time
@Brijsolution
Please enter in stocks only after 2nd august cz if the dreadful happens then the stock will get more battered :)
@Prabakar
Got it :) thanks
@ SAZ,
If it is part of the sideways correction for the rise from 5196 to 5740, it must stop around 5470 to 5520. Hence, a buy @ 5470-5520 zone., 5520 being 50sma and 5470 being the corrective channel support approximately.
Since the market has opened dn and moving down, the conservative traders may opt for a long trade waiting patiently. The quality of the rally from there if any would cancel out the "Sell suggestion".
PT - what do we mean by gap filling
@Ilango sir,
Got the answer :) thanks a lot
@ Sarvesh,
"Following this blog but still making loss".
What is that you are following in this blog..? And how did the loss come about..?
Are you following calls given by readers here..? Are you following any methods suggested here..?
@DR,
It is holding..then recovery possible..?
what will tg then..?
stockhitz said...
@DR,
It is holding..then recovery possible..?
what will tg then..?
http://www.youtube.com/watch?v=n9XOBlsNfh8
Dear Sir,,
This is 5th wave?
@Hitendra
There was a Gap at 5532 form where we rallied till 5700+ so the gap filled today
sir ! actually i was posting here last year, i hope you remember.. thing is i am unable to trade in my regualr day to day life..... time is less to do soem homeork also.. its like a prt time job and since am new into my original business also..fear of making loss makes me a lat entrant sometimes and at other times making a loss....so,, its fault at my emotional level .. am unable to cope up. e.g. i initiated a trade in nifty day before yesterday and then covered it at a a loss and then cud not move to make any trade again its been two days. wud i have waited patiently that very trade wud have given me profit
@sarvesh
just note down levels, of daily,weekly,monthly
high-low EMAs's, observe market during these lows,
coupled it with hourly high low EMAs,initiate trade, knowing your SL,if at crucial level, hten watch first sign of strength atleast on 5 min chart, b4
initiating trade...
Calls posted here, bcoz they want to attract crowd to
their blogs,just it , if their cal go wrong, they dont
show their face, if hits they will shout like minnows...
@Sarvesh
Just follow one no. ie JNSAR and do yr work.u will not have loss.
it is a multifaceted thing i.e. trading and am unable to grasp those things.. there are certain thigns which i unable to understand on my own. but passion for market drives me here againa nd again and then i lose soem capital and again go away.. i am actually laughing at my self while writing this.. this sia folly
@Ilango Sir: Thank you Sir for your analysis
@Bizagra,
I closed my all shorts @ 5525NF initiated @ 5690NF
@ Sarvesh,
If you have the passion, please educate yourself first. Watch the market but do not employ your money. Get the feel of "how markets behaviour affects one's emotions". In the mean time, your capital is protected and infact, it may even grow with your savings.
Remember: The ocean of this market has never ending "waves of opportunities" but enter it when you are ready.
Trading cannot be part time Business
Yes investing can be.
Trading is one of the toughest job in this world.
It not in morning you place orders and in evening
welkin your broker office and collect money
Not is not so simple.
At least three years screen experience is required to
make money in stock market
thanks ilango sir
@Prabhakar, i m trailing with 5550 NF as SL.
Illango Sir,
If nifty sustains 5520, can we go for intraday long for tgts of 5550+?
If nifty surpasses 5567, then it can head towards 5600. But if nifty fails to break 5667, then it may attempt to break 5500 levels.
Could this be a possibility.
Another request: Is it possible to have an alert in the website to convey when JNSAR has triggered or about to trigger. This I am asking from convenience point of view.
@PT,
Do we have a gap at 5330-42? could you please have look?
Ready for bounce??
at DR .. yeh even i think you are right.. i can make it a side business.... i think this is the time to quit on trading and go with cash stocks and selling them and buying them at right times.
PT,
u r right.
even we are nr low,
RSI is rising in 5 min chart.
Sir & san,
what's ur view @ this juncture?
@sarvesh, if u dont have much time to spend trading i think jnsar will be appropriate for you
@Prabakar
I could see only one at 5532 :)
sarvesh
dont go for stocks
for for ETF (NIfty BEes, Gold Bees, Bank BEes)
and SIP if you wanna in vest every month
and track 50 SMA for long term investing
brijsolution said...
Ready for bounce??
July 27, 2011 12:59 PM
Now above 5540 ns sustain is imp
@ Prabhat,
I have outlined a broad range for ST bottoming @ 5470-5520. If market does not bounce from there, it will then affect market's larger Technicals. I have marked such numbers for BN for the current week.
For Nifty, it is 5593 & 5655 which are far away presently.
Even the Hour TA has not yet shown any bottoming indications..Let it slide or trail it.
JNSAR alert: I am sure one can manage with that one number and become independent.
@bizagra,
Good method.
Very well said sir,
JNSAR makes one independent, although its been testing one's patience currently in .
hai good afternoon to all.
i nifty may take support @ 5501-07 range.
Dear Ilango Sir,
I have just started following your blog.
Do your mean that there is a buy signal for this week once the nifty touches anything between 5470-5520, for an immediate target of 5593 ? Kindly respond..
Sir
Wellsaid about JNSAR
PT,,
5th not yet marked on chart,, waiting for that...
What u say?
@Brijsolution
Just waiting for 5497 to break 5464 - 5440 - 5410
and expiry rocks :)
DEAR SARVESH,PLEASE VISIT TRADER FEED BLOG TO GET INSIGHT INTO UR SELF.WHEN TH ESTUDENT IS READY,,HE WILL FIND THE MASTER.AND I BELEIVE UR AT THE RIGHT PLACE.BE PATIENT.U WILL BE FIGHTING WITH MUCH BIGGER PEOPLE IN MARKET .SHARPEN UR TOOLS FIRST.
May be i am wrong but bounce wll come up to 5560..
lets see
@ durga actually we have same profession... that is the thing which keeps me occupied.. well can you gimme the link which you r reffering
DEAR SARVESH,it was there on right of this blog under MT BLOG LIST OF MASTER ILANGO
@ Bharat,
"5470-5520" is the bottom part of this sideways range. It is an approximate one. It needs to be fine tuned as the prices unfold.
Any trade initiated should have a small SL. As I stated earlier, the quality of the bounce/ rally need to be watched. If it is a reversal, it will close above crucial emas and have follow up action. If it is downtrend, it might have a bounce to one of fibo retrace and fail to close above crucial emas or close but not have follow up and reverse down.
"Part booking" is the only safer way to trade such sideways market.
Prabakar, U r right. There is a nifty gap at 5330 to 5343 lfeft on 23-6/24-6 and still to be covered.
Pranab babu is on TV
Sir I am keeping an eye on these numbers as you have rightly
pointed out, 5520, 5470 and daily SAR
Prabakar, Previous similar gap at 5558-5566 was covered and nifty went to 5700 levels and coming back.
@ Ilango Sir, Thank you for the information. will observe keenly.
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thanks just nifty now im follow only ur levels....now im earn these days...and june to july
total im earned 45000 rs ...thanks lott...and im buy a lap top for trading purpose
i want study more im watch tis blog 2008 @ time im not trade ur levels now im trade ur levels....thanksssss
Bharti airtel
Bank nifty is moving...
50 points in 5 mins ...
PT ,, enjoy
dineshwa looking for long tail kangaroo :)
Rich ha ha ha ha ha
5th marked on chart
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@Badri,
Thanks for the confirmation.
It seems 5500 put started unwinding.
looks 5565 ns booking area..
New Post Done.
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