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...
31 comments:
@piyush,
You are right. 5307-5400 is an impulse. And after that
it is showing all signs of a B ( slow ). So we have one
more impulse left then to 5350 range ?
@gd
5207-5300 u mean? i think we shud also keep the
5 wave which 'was missing' scenario in mind where
4th over as elongated flat 5207 5th on to the target 5400+.
@ps,
Absolutely. That cannot be ruled out.
@golfdude wait for the appropriate time.Lol.
Nifty waiting for 02.40PM effect
Can any body here enlighten me on W.D.Gann's time price charts ?Regds.
@ Jiggs - thanks :)
DR - yeah..correlating with commodity is very dangerous??:P bach gaya i think my range is "correlating with sensex" is enough :) weekly open not taken out :)
@SR mail answered
Nifty seem to be doing a "Contracting triangle" for the rise of 5207 to 5300 similar to the one it did in Hour T/F from 4728 to 5160 earlier.
"5265-5270" holds the potential for further upsides.
"5265-5270" holds the potential for further upsides."
Personal prayer - Oh My Lord - Please close well below this level or close around here = CAT ON THE WALL situation
aamin!
Sujatha,
You seem to be so adamant to bring Nifty Down!! :)
@ Shiva - lol :) all please vote for "aamin" :D first by class leader "DR" pls.
@Satheesh - GA :) v crossed. yeah see my "D" is better than nifty somehow she is listening. Nothing just atleast upto older level 5100/85 atleast ?? :P
PS :நான் சொல்லறதை நானே கேட்கிறதில்லை நிப்டி எப்படி கேட்கும் மாவு அரைச்சு அரைச்சு இங்கேயே முட்டிக்கிட்டு வண்டி நிக்க போகுது :) i think so
@all
mailed 3 charts check ur inbox
Satheesh - வாங்கய்யா வாத்தியாரய்யா வரவேற்க வந்தோமய்யா
Jiggs - thanks received but Y 4 hr chart in gold any specific reasons?? just for learning purpose time permits
Nifty Outlook
• We highlighted in our previous report that” Though Oscillators on daily
chart are trading with positive bias, they are trading in overbought
zone which warrants some technical correction/consolidation in days
to come”. After opening with negative gap, Nifty continues to trade
with negative bias throughout the day.
• We have also been mentioning that it is very necessary for Nifty to
sustain above 5340 for further upside. Markets witnessed selling
pressure due to lack of sustainability above our mentioned level and
now we expect Nifty to test 5200 and below that 5160 level in days to
come.
• Major resistance for Nifty is at 5480 which is derived from its 12
months old declining trend line on daily chart. On downside 5030-5000
would be good near term support range.
• Oscillator on daily chart have generated bearish crossovers which
indicates further downside in markets in days to come.
F&O Outlook
• After opening with negative bias Nifty continue to trade with negative
bias throughout the day. Volumes in F&O segment were higher
compared to Monday’s trading session but relatively lower than its
average. Surprisingly Nifty futures continue to trade with premium of
30 points to spot.
• On option front we have seen writing at 5300/5400/5500 strike calls
with total addition of ~17.5 lacs in OI. Maximum OI addition was seen
at 5300 strike call with addition of ~11 lacs shares.
• On Put side, lower strike puts have seen some OI addition. 5100/5200
strike together seen addition of ~17 lacs shares in OI. Maximum
addition was seen at 5100 strike put.
• Maximum OI concentration is at 5400 strike call (~54 lacs shares) and
5000 put (~50 lacs shares) which indicates 5000-5400 as broader range
for markets.
• Options IVs cooled were trading in range of 20-23%. India VIX index
closed at 24% with gain of 6%.
Sujatha,'it looks like the CAT is on the wall now
maninder - It's trying to jump down probably tomorow morning be ready with "milk bowl" let it drink
special bye satheesh :)
@sujatha
4hr time frame is good to analyse commodity and currency, works well in 4hour,1more thing its between daily and hourly so...
@jigs my mail id is nnumbergame@gmail.com
sujatha, pl tell also where to keep the bowl to drink
the milk to the full.
master wht will be the bank jnsar for tomorrow?
NS at 5256, and Hour JNSAR at 5266. Time to go long with a target of 50 pts+ and a SL of D-JNSAR at 5210-ish.
@ ajja,
BNJNSAR for 03rd Nov. will be 9765(Approx)
thank you master
Buzz,
we may get good chance to sell at higher lvl
on Friday with buying ard this lvl.
Western mkt will add flavour tmrw.
rohit comment:
The violent sell off seen recently might get its first relief as Dax and Dow complete
5 wave declines on hourly charts. Dax could retrace 61.8% upto 6170, in wave II
before III down unfolds to lower levels. The recent high therefore should not be surpassed
if a bearish view is to hold on global markets from here.
nifty closed below all hema, monthly opening and weekly opening.
As usual do or die situation for Bulls.Nifty last price
5252 & finally closed exact @ monthly pivot 5259.Let us see.
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