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...
50 comments:
Good Morning Sir, and all gems of JN
Namaste Ilango Sir and JN Family
PK Thanks. Need 1 more reply.
Happy birthday Rajinikanth 12-12-1950
He is going to enter in one of his lucky 63rd(6+3=9) yr.
Wish him speedy recovery.
He is ruled by double 3. So planet 3 has double impact on his
life.
Planet 3 (Jupiter) is the planet of wealth, which made him
highest paid Indian actor.
Hope will continue to top the list.
Thanks
Good morning sir and all :)
Pranjal - I am not 100% believer in "moon theory" just like "pickle" will mingle with 'CAMRILLA & FIBO"
this both is giving good returns if u "follow religiously" no dounbt instead trying moon try this one.
all the best.
@Satheesh ji
In your chart is it 14-hr rsi
Thanks in advance
Huge vol trade happened @4865 (spot) - mostly a short tradeThis may act as a
first resistence.
@prabhat
nice observation
@ rajan malhotra,
It is 14 RSI
time to buy nifty near 4842-45 ns levels
Namaste ilango sir and friends,
Today's quote received :
If you want to enjoy anything,
always think today is the first day
But.......but,
If you want to achieve anything
always think today is the last day.
This bounce off the recent lows is to be keenly watched for any strength as well as renewed selling ..
Good morning Ilango Sir and all blog mates
reliance below 750
Ilango sir,
What one should watch in this bounce from recent low?
@satheesh ji
your level 4841 is holding, but how did you draw
that dotted trend line.I could not find it in daily
and hourly chart.
@ rajan Malhotra,
If it is the RED arrow you are refferring to it is just a projection and not a trendline. The pink dotted lines are small channels and the brown dotted lines refer bigger channel.
ns need to sustain abv 4866 to gain momentum on upside
Fast fall in 5min NF charts - invalid above 4885-90NF
Fast fall in 5min BNF. Invalid above 8850-60 BNF
Clue:
1050 was the first low of tata motors, after that it broken
gone to 920 and then bounced back to 1070 and then gone down
broken 920 on down side and went to ......
Similarly,
5177 was the first low of nifty, after that it broken gone to
4720 and then bounced back to 5380 and then gone down broken
4720 on down side and ......................
wish to see ns near 4918 soon
@satheesh: Please accept ......
http://www.chocolatereviews.co.uk/wp-content/uploads/2010/02/IMG_4276.jpg
below 4828 looks like fall towards 4696-72 levels is it ??
Thanks Prabhakar - mouth watering!!! :)
@satheesh ji
Thanks.Infact I was referring to the lower
boundry of the smaller channel,pink dotted lines.
so is your chart hourly? At my end it is neither
in hourly nor in daily.please explain at your
convenience.
PK - See your mail and confirm.
i guess test of golden ratio of 4816
is possible and may hold for st
@Jigs
Sent mail pls check.
Thanks
Just for fun...
http://www.thecopydude.com/wp-content/uploads/2006/12/images/bear.jpg
Namaste Sir Ilango and all friends
May God grace peace and prosperity at this blog!
good morning guru dev & friends
banknifty ke sant ne dhik ki kaha hai!
Follow JNSAR + Kar etbar = Daulat Beshumar
Break of todays low of 8727 in BNF will be a Head and shoulders break out - with downward target of min 200 Points. - will it take support or break?? as it forms a trendline joining the lows of 8450, 8705 and todays low of 8730 BNF.
5046 was last when we went below HLEma. This short trade
is worth 230 points now.
@Experts: Any bottom in sight or is just a big banana slide straight to the well?
@Ilango
The Golden Ratio stands as a support +/- 5 points..
would this entail profit booking on shorts?
I wonder who all are in the bear camp - Sujatha Ma'm & Anil for sure.
I guess it is only me & Kumar Sir fighting the lone battle
in the bull camp :) I went long @4815 spot with 4800 as SL
@Prabhat, Kumar
With you guys in the bull camp....
@prabhat
dont know abt others but i think rajnikanth is celebrating bday by shorting nifty ;)
@ilango sir,
5099-4842 - A
4842-4910 - B
4910-4652 - C ( =A )
This completes B of a flat between 4640-5099 ???
Thoughts ?
Thanks
Those who sold using +ve global cues with a downtrending Nifty in the morning may book part profits around golden ratio.
4100 IS THE TARGET
There is also another set up running which is:
Below 4936, Wk.Pivot, S1:4773.
@Prabhat
revised sl to 4773
was this downmove made to take sl of longs be4
moving up again??
OI shows decent support at 4700... guess we could bottom around 4765 for this fall..which is 61.8% of the fall from 5099 to 4840..
New Post Done.
Me too revised to 4773 (spot). But this slide is just not
finding any bottom.. Looks like nifty is highly
oversold. Unless the bigger picture is scary, I am expecting
some short covering at the later half of the day.
+ve divergence in MACD too continues..
Dear GD
if it is equal wave extension downmove (i am refering to Fire's blog)
then bottoming out is yet to conclude before any upmove
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