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...
67 comments:
Many advocated selling option in this series, and option writers
will have bad times in this series.
But I know no one will come out and criticize that.
But many one just coming to criticize me.
when u take a position on the market, it is absolute.
It does not come with if and but......
Let us see, may this series will change my life forever...
but mynac - lower side good supports showing sofar in sensex and nifty spot that may give atleast 5229/37??
Jeetendra Mistry
EE is energy exchange
Have u seen Rt side Play Rummy & wing 500 cash prize
why dont you check urself
Sujatha,
"WHAT?" - LOLS!!!
Ilango sir and Seniors ,
Is it that we never substact 20 points but always add
20 points to JNSAR for
next 2-3 days after it is triggered .
Like yesterday it triggered to go short at 5258 .
and we have added 20 points to today's JNSAR which comes
to 5280. My Q is why we do not substract 20 points (specially when
it is triggered to go short)
and make it 5240 ?
Hrly 9, 14 Hr RSI,35Hr.D suggesting over sold Hrly
condition,so later or sooner bounce is expected.But how
long and how much it shall be sustainable shall be moot
point.Just look @ Day KST indiactor,Nifty week & 5 D..
@smita. Filter is added when short so that for two days a chance is given for the trade to survive. Same way it will be subtracted while long.
okay so we do minus 20 for next 2 days
after JNSAR triggers to go long..
many thanks cooldent !
Anyone who does not believe what is coming next... just see what is
happening with midcap index, nifty junior...
also see above chart after a long time lead indicator is going
below 20.....
and pattern before that suggest it was long distribution pattern...
@Smita
JNSAR triggered a short....so you ADD 20 points filter
to reverse the trade....not subtract
BN low at month Lema 9379.
s1 of 5183 broken.
s2 is 5144.
Sis
GM
BN 9360???
9367 donw
Whats???? next
"the reason has to be because we have to repeat everything to men"
Its not the above wala what? lolzzzzzzzzzzzzz
@pankaj shukla
even sir had stated short term top at 5400. the problem
is that one can use lot of studies for downtrend to
start.
circuit is one extreme thing and i dont know
of anything that can indicate circuit is coming.
a downtrend can come normally or with circuit. how
does one ascertain it'll be latter.
u please distinguish and tell how u ascertained circuit???
Got it , Thanks Indus
I think now from 5150 to 5160 bounce will be there...
Straight from the horse's mouth
http://managingthework.com/wp-content/uploads/2010/04/horse-mouth-260x300.gif
I have covered my intraday puts @5154 which I entered
today @5197. No more positions for today.
@ Pankaj Shukla,
"Many advocated selling option in this series"
Only I did. No one.
I have been quite flexible with you so far. I definitely don't need a distraction such as you in my blog.
Please continue your journey elsewhere. Our best wishes to you.
Leave us in peace.
Ilango said...
@ GD,
It seems the short term top is in which will be confirmed with a close below "5288".
(DHEma)
11/1/2011 10:08
Ilango said...
@ Nirav,
From 4728 to 5400, it is a clear 3 waves labelled as "A" and a corrective "B" is unfolding which would be a complex one wherein most traders are expected to lose unless they resort to "Writing options".
A broad trading range is expected in Novemeber after the sharp rise in Oct. to be concluded with a "Santa rally to complete the "C" of this corrective upmove.
11/1/2011 15:07
Ilango said...
@ Nirav,
If the channel holds or if Nifty contuinues to close above 5-DEma, preferably a close back above DHEma, it could attempt 200sma & above. It has a day or two to achieve it failing which, this correction may continue lower towards 20sma.
11/2/2011 12:15
Ilango said...
@ Samvrudhi,
Nifty could go to 5525 as well as go to 5075. But how would it help?
If you had known this when Nifty was @ 5100, you could have gone long OR when Nifty was @ 5400, you could have gone short. But now it is at the middle point... what should be done? Write 5100PE and 5500CE whenever Nifty is oversold and overbought.
11/3/2011 11:40
Ilango said...
@ amola jhaveri,
"Minute waves" are challenging as well as have many possibilities such as wave sub dividing.
As per S.macd of Day, 5186-90 should be the min. target where you could do part booking. Below that 5125-5145 possible.
11/3/2011 12:17
Ilango said...
@ Shivan Gupta,
S.macd has two components - 12ema & 26ema. It is uptrending in day and 12ema is @ 5186 & rising and hence 5186-90 support.
26ema @ 5117 & rising and hence 5125+.
11/3/2011 13:18
It is clear from the above "where" the writing needs to be done.
http://1.bp.blogspot.com/-x-vZRIs0dqw/TrywSglIwWI/AAAAAAAAAPI/0FsEE4wkCM4/s1600/nifty11.png
is 5 wave done, are we bouncing from here?
Mr.Shukla
One curiosity if you can Please answer are you a strong believer of numerology because every time you appear you change your name?
@SR m long small qty with a SL of 5150 NS ur joker views please?
brother - gm :) mail sent - hope u r not serious abt my BN reading as that's learnt frm u only :D
satheesh - 5K breakes is very danger for bulls :P
at what time IIP Data will be announced?
i wl be short till announcement.
I may come at some point of time later in ur blog to put comments, if allowed
But for now I am leaving in peace....Thank you all
Bye... Best wishes,
Take care
yes sir,
it was cleared from your previous answer it was my confusion
thanks sir.
Regards,
Nirav
brother - BNNNNNNNNNNNNNNNNNN :P
s2 5144 seen.
so this one of those hitler raj blogs lol..and we complain
of congress for being dictators rofl
@PS A.K.A. SaiBakt A.K.A...
Writing call options 5000 CE,
actually gave a premium of some 50 additional points
when NS was ~ 5400.
What's wrong with that??
Every generation looks at their parents/ teachers as "Hitlers"..It is quite normal.
Only difference here is that I do not force you to stay at "Home/ Class room".
You are free to go anywhere you like and have fun with your LOL LOL LOL.
Gm..Ilango sir n friends. lucky we didnt open yday as world markets were quite back and it seems there isnt enough damage that has been done.
35HRD lead indicator: touched 20. day lead indicator might touch 20.
nifty below mid bb in daily but trending down along side lower BB in 30 mins.
Just checked 30 min charts, earlier 5130-5145 has given good resistances, so that can act as supports now may be. Good buy with proper stop loss may be.
@HITENDRA,
5180 was nf ... now 5144 also in nf..
Thank you in advance..
@Bhavan - u too kidding?? :) 17120 breakes will give -300 :( it's worry for me then 17188 protection will give 273/288/336 if this protects i will take risk in long for next week
(may be all this will touch and come down again??) will decide @ EOD
@ Ramcharan,
You have listed all but the weekly D. It might break the 80 mark depends on today's close.
Though we trade based on Day/ Hour readings, we need to give weightage to the higher T/F changes and add "Caution" to those trades that are against larger trend.
yes Sir..i forgot weekly.sorry for that. Weekly mid BB is at 5204, so closing below dat means more downsides. and above that a good buy.
@real pilot,
"@PS A.K.A. SaiBakt A.K.A..." why have u used this???
i am not saibhakt/pankaj shukla.
i remembered 5400 as short term top as said by sir. so
i mentioned. i dont know "writing options" so this
suggestion of sir was not of much use to me.
Sujatha,
No bull No Bear just trading with strict SL's - always :)
if 5142 is held then,
fib on upside are
5183/5209/5230. 61.8% is @ 5250.
i see next bigger fall will start from 22/11.
I sold 5100PE & 5500CE on 31.10.2011 @86/- and covered
today @61/- with profit in spite of high volatility.The
profit might be more if I would stay further for time-
decay or trade more with Ilango Sir's daily TT levels.
We've to conscious ourself regarding time & risk manage-
ment of our own trades.TT is guideline even in option
trading.
SAM said...
I think now from 5150 to 5160 bounce will be there...
Booked part profit in longs, rest holding
BN recovering?
@ Piyush Sharda,
Same initials caused confusion -- I wrote for Mr Shukla.
Best wishes.
Ilango sir, i booked my shorts @5175NF. Now wht sud be the stratigy??where to take shorts again??
Thanks. i m weak in re-entring..Thanks
"Ramcharan" is the proud owner of the comment @ 11.11.11-11hr.11min.
ha ha ha this is just like some one is the father/mother of a proud baby :-) ... Congrats...
Ilango sir, you were early by a few seconds :)
Congrats Ramcharan... once in a lifetime achievement.
@ Bizagra,
If 5135(+/-10) holds, there would be a bounce upto 5200-25 zone which is a likely resell point for the day. This is an ideal scenario. There is 5185-WEma-around which action may center in the later part of the day.
Decisive break below 5135 would lead to 50sma(5050) or 5085).
61.8% retrace of the last rise-4728-5400-comes @ 4985 below which serious downsides may unfold. Though this is the current view, we'll make amends, if necessary, as the price unfolds everyday.
Dollor Index giving sell signal in equity & Commodity, Rupee also doing the same now & VIX also inching up but our lead indicator "FIRE" indicated in advance about this fall. Sun rises from east bcoz FIRE's fire is there:)
Sir,
+ve divergence in 5min NF charts
@ilango sir,
Bigger B wave 38% retracement almost done. ( A - 4730-5400 ).
Nothing stopping from going to 50%. Conservative long
for Wave C or wait for next week ? When would you
think Wave C started ?
@Master: Thanks for your direction. I too have the same
confusion as Bizagra.
Its so good to have you guide us.
@SR check mail
@ Buzz,
I could take consolation in the fact that my comment was made during the 11th minute in progress.
:D
Thank you for the mail.
You'll not find me a saint all the time. I'll get into my true "Pokkiri" form when needed.
I don't meddle in other's affairs and when anyone meddles in mine, I see just RED with total control.
Thank you Sir for your analysis.Booked intraday shorts @5172 NF (initiated below 5170NS)
@Kumar Sir: You gave sell signal from 5300+. Now dont you
see a minor bounce today from 5145 levels to 5200 level
before the next fall starts ?
It's a shame the kind if arrogance some people have after s successful trade, ilango sir thank for being a role model to all of us and staying humble
@Satheesh
Your fast falls and fast rise indicators are brilliant!!
Thank you....continue alerting us
@Kumarji,
As much as I would like to believe that, but the fact is until Master said about the probable top@5400, I was not actually very confident. His words (as quoted to Pankaj Shukla) made my conviction stronger. I remain just a disciple.
Ilango,
Can you advise how much points JNSAR captured in last one or two year from BN ?
I can collect such data for NF from your table but can’t get BN details.
DR,
time to order for 24” monitor to check BN chart?
Thanks Indus.
Can someone refresh me on the "RED label" / "GREEN label"
definitions ? New concept - should this go into the "always start trading with these" :) ?
@ GD,
As this correction is unfolding, it is affecting the weekly TA in an adverse way- yet to be confirmed with this week's close. The saving grace is the most likely close above WLEma.
Day lead indicator is likely to bottom out for the short term on either Mon/ Tue which is where one could think of longs but monitor its rise. If it is choppy & not impulsive, early clues of deeper falls would emerge. Keep watching/ remembering TT numbers and price closing above/ staying below - High emas/ JNSAR, etc.
Vijay Mallya ne sab ko dubaya....Khud to aishh karta hai..
A few years back, when I tried to learn EW, I got frustrated and left it. Then I came to Master's school and saw how it was applied from day to day live market. That was the beginning of my studies under him, which still continues. Piyush Sharda was my batchmate. :)
New Post Done.
Sujatha,
you just missed the 11.11.11.11.11 by just 1 min :(
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