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...
80 comments:
25/50 nifty stocks in green
One SARDAR slaps Sharad Pawar watch its recording on news.
Last half hour remaining for nifty november expiry guess, friends.
4600 Call @85
Nifty Spot 4695
Man named harvinder singh slaps sharad pawar. Jo manmohan soniya ya indian police na kar payi wo iss bande ne kar dikhaya
Bravo bravo
Jigs ji
No Ep @ 4742
fro 4640 to 4708 =68
from 4674 ( after correction added) 68 points
hence it will around 4642 with tolerance limit of 10 point
@Jigs this guy should have slapped Pranab Mukherjee and
Manmohan singh also. yes truely bravo....
NS range expected @ close based on 20e<20 ma is
4635 to 4650
on closing basis
@Jiggs:
First my reasoning:
1. One day POC is at 4660 and two day POC is at 4707. The mid point is 4684.
2. The down move was from 4706 to 4639; ie., 67 points. 61.8% of which is 41 and 80% is 44. That means the retrace is likely to be upto 4690 to 4694. and
3. The optin study indicates that to day nifty is likely to remain between 4600 and 4700.
4. As perthe EW wave count it appears there is one more down move is likely. Therefore it is unlikely to go above LEma.
So There is a cluster around 4690. This is going to be the place where nifty will go to sleep.
If Ilango sir corrects my reasoning I will be thankful.
LV
15 min back I bought 4700 ce and pe 100each. Total cost 3500.
DR Sir, ur comment pls.
Jigs
voting line are open till
c) You need to do it before 2.30.
entries submitted after 2:30 will
not be accepted :D
http://cdn.inquisitr.com/wp-content/2009/11/expiry-date.jpg
Jiggs,
my Nov expiry guess - 4725-30NF (Nov Series)
my analysisi is based on pivot/s1/s2
Dear DR sir!
Without HANUMAN Ramayan is incomplete so you are most loving and effective human being here. Thanx for pic, LOL:)
Dear AshishAg!
On expiry day it may be highly volatile so may go upto 4750-75 or 4650 both but on this crucial day it made double bottom "as of now" on daily chart, its bigger pattern and i indicated this earlier too when it was nearly 4650-55 spot @ 12.05pm. So I am also mildly bullish like you for expiry but expiry day is famous for surprising by most unexpected moves:)
it is my analysis of using pivot/res/supp
@DRSIR lol
@Nnumber game
Indian public will slap all 3idiot in 2014
But he is real hero
Yo...done
another Yo ...done
yet another Yo....in progress.
Don't be surprised after this one down....yet another yo..
to make it a yo..yo..yo..yo day.
BN collapses
@jigs
here is my take on closing.Nifty probable close at
4720-4750 after taking support at 4665.Posted a chart
my chart analysis which u can be seen in my blog in my
profile link.
@Jigs
Expiry: 4640
Reason: to end @ low
Thanks
Vinod
Jigs ji
Nov Ep odified it to 4716 with 10 point tolerane
reasopn as aboe but 62% fro the low of 4674
Ilango sir or DR sir or anybody can comment on my reasoning.
I am still in the learning process.
LV
Nov Expiry : 4650-75
Reason : Dil Se...
End.
Voting line are close now :)
Nifty is preparing itself for another fall it seems. Today we may survive only because of expiry.
rohit comments:
Just like a big fall appeared impossible
some time back a big bounce also appears impossible. "Dont try catching a falling knife" applies to me
here. But we have a set up which will confirm above 4733. Short term sentiment indicators are at an extreme
so fresh shorts here are not advised. Lots of stocks also sport 5 wave declines clearly on daily charts so till
clear signs of them extending without a aretracement are visible a retracement for them all is the first option.
Bank Nifty Channel
http://potsupdate.blogspot.com/2011/11/bank-nifty-beautiful-channel.html
No shorts @ 4740; I agree to what Rohit says.
Joke time
एक आदमी की कार से टकराकर एक तोता जख्मी हो गया.
आदमी उस घायल तोते को अपने घर ले गया. उसने उसका इलाज़ किया और पिंजरे में रख दिया.
होश में आते ही तोता जोर से चिल्लाया–“आईला जेल…!!! कार का ड्राईवर मर गया क्या…???”
this is the chart presented by Rohit.
http://3.bp.blogspot.com/-0K5Z_OWewsc/TszFz3IRw4I/AAAAAAAAAaQ/z32MaW0QEUM/s1600/BSE%2BSensex-730689.GIF
@ ILLANGO JI,
THAN SHOULD CLOSE ALL SHORT ON CROSSING OF DLEMA ?
If NS closes above the Hour HEMA this hour it would have closed above the Hou HEMA after 14 Nov at 13.00 hours. Totally - after 58 hours of trading!!!!
NS near today's developing DAY LEMA -4734
Y'day nifty did not reached daily BB bottom today it reached daily BB bottom.
europe & india fire.
4733 croseed.
Sir,
No shorts @ 4740; I agree to what Rohit says.
@ Nilesh,
A close above DLEma means, a side ways / corrective upmove is possible.
You can lighten the shorts.
DR Saab,
Aapne kahin to 4818 ka zikra kiya tha.
Kya aap mazaak kar rahe the ya aap serious the?
3.00 pm Closed above 21 HSMA.
There cant be better rollover than this
http://www.ridelust.com/wp-content/uploads/2011/01/rollover.jpg
impossible looks possible.
@Dinesh Rishi: fine
DR sir,
http://www.inflexwetrust.com/wp-content/uploads/2011/01/teddy_bear_crying.jpg
Dear AshishAg!
Very good pattern found by you, keep it up. This is the largest retracement from bottom, finally double bottom worked:)
Buzz
कहने मे क्या जाता है
जैसे पूछने मे क्या जाता है
http://www.youtube.com/watch?v=3Eh037j2j6c
So we done with W3 then from 5320 to 4640 and now
starting W4 to 4900 ( 38% retracement ) ? This could
take 10 days ( since W3 was 10 days ).
usa closed today or not?
ilango sir nifty closed above pivot and HHEMA so is it right time to go long
@hitendra,
US closed today. Tomorrow half a day trading.
@Ilango
After a long time, tomorrow's developing J10SAR is
above JNSAR........usually, this has pointed to an
uptrend continuing.......
Sir,
i wish ur advise.
i m long at 4718 of dec ser.
mai i close half the position ard high of the day.
becoz, i can't live trade tmrw.
ur chart is turning up
with appro tgt of 4790 of 34 Hrsma.
Xpiry Result
Those who claimed above 4725
can start posting their views
if no egg-ject nearest one will be winner.
*posting = re-posting
Kumar - 4750-75 (4738)
AshishAg - 4750
Kavima - 4720-50
Stock4sure-4730-40
Satheesh-4725-30
Jayaraman-4716-26
The above has guessed above Day's pivot.
Kumar has hit the high quite well. Now for the close.
GD ji,
I am of the same opinion But there is also a
possibility of 162% OF time taken by W3. As market unfolds
we may able to have realistic target.
Thank You sir, its biggest reward for me....Thank u thank u 100 times....
@ Hitendra,
If you aren't there for Live trading, it is better to book out.
the 4th wave will have its own ups & downs to trade before the month end comes into play.
nifty granted my chhoti si aasha
Dear Jigs!
My expiry was over yesterday, rolled over my 95% position yesterday so i was free today. Thank you so much for keeping me busy thru this Expiry guessing game, thanx for ur sporting spirit:)
dear sir ilango,
means that 3 wave over and we r enter in wave 4
double bottom trgt of 4794 still pending,may see it tomorrow
HourChart channel breakout update:
Click Here
Ilango my target was 4730/- 15 points. U missed me out!!
Sorry 4730 +/- 15 points
Ilango sir I e-mailed u Kindly check ur mail box whenever
time permits you. Waiting for your reply sir.
thanks sir.
@ Alpesh,
This rally has exceeded the earlier 125 points of 2nd wave.
Also the close above DLEma bring the trading scenario of DLEma less 20 and DHEma plus 20.
Oh Kumar sir
Thank you so much for participating.
You, DRSIR, ilango sir all thank you so much.
jigs Good Initiative
lets do it every month :D
Winning trophy for "the expiry guessing game" will be presented by Sharad pawar?
:D
Congratulation kumar sir.
DR - but y u people left me including sir i posted @ 9.46 AM itself. i will protest infront of Sir's house :D
Pichkoooooooo....so many "expiry technical experts" here :D This "little one's" opinion - If external hands are high then expiry around 4600 if internal hands are high then 4700/47/4800 around.
And for consecutive 3 time winner will get 5K from DR's sir POCKET balance??? from Sirs :)
I will love to do every month. If you all senior supports
@ Sandy,
Sorry to have missed you out. Many comments and yo-yo-yos...
A perfect zigzag is done. If it becomes a 5 wave, then it could continue higher.
AshishAg and Sandy have given 4750 & 4745 as the highest closes.
Winner of the settlement close will be known after the adjusted close.
Thanks Sir and friends. Another explosive expiry.
Sir, I have been trying to imagine J10SAR and JNSAR as kind of EMA's on the nifty price chart.
When J10SAR is below JNSAR, we can go short and when J10SAR goes above JNSAR, we can go long (both short and long should have appropriate stop losses if trading this).
So with today's tentative J10SAR price, it might indicate a positional long entry, provided nifty price stays up and confirms.
Was that kangaro tail?
Kumar sir Congrats
24-NOV-2011-15:45
Prbably, the 5th wave is over. The reasons
1.Hourly wave counts matches the 5-wave move with
wave-3 extension. Wave-5 has made 5 waves 4639 as
bottom. 2. NIFTY has crossed above swing pivot level
for the 1st time after the fall from 5400.3. Most of
the oscillators has crossed above the pivot levels
after divergences in the 5th wave.
DR Saab,
Aapne mere muuh se baat chin li... yes lets do this every month.
Jigs Sir,
Please continue the practice!
Blogmates
@14.24 hrs NS was 4670
@15.02 hrs NS was 4770
We may call mother of all expiry ( up move only taken)
for the year 2011 and duration is only 38 mts.
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