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....
-
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...
71 comments:
part booked sir
can nifty go below 5200 ???
If you look for 5 waves from 5312, the low of 5205.75 is the "iii"rd and the "iv"th is on to be followed by another low after which a grind...and guess works.
Good Morning Sir and Warriors ..
This time even not able to reach the Mid Point and turned Down ...
Looks Like Much Talked about NAV Management ... is fighting against the redemption pressures
Thanks sir.
@SAM
yes it breached lower trendline at 5210...also it
triggered lower targets for 5154..and last prominent
support at 5135 or so...
You make the Nifty Intraday Live-2min.chart to 5-min set up, you can spot the waves unfolding.
"5312 to xxx is the 3rd wave of the fall starting from 5386, "5386 to 5206 being the 1st".
@ PT,
Our midpoint crisis has been well spotted and hence there is some whipsawing here too...!!
Last time, it exceeded the midpoint and fell and this time without even reaching it, falling.
"Evolution of markets".
March Nf in discount and Apr in 40 points premium.
@Ilango Sir,
Really it has helped tremendously to me :)
5200 put has highest OI(7,908,450) for very long.
Having 3 more days to go bulls will defend 5200
Thursday, March 1, 2012
Grahanila(Planetary positions) on 1st Mar 2012
Sun in Aquarius, Mercury in Pisces, Jupiter & Venus in Aries, Moon & Ketu in Taurus, Mars in Leo, Saturn in Libra and Rahu in Scorpio. It would be advantageous for positional traders to exit all stocks when Jupiter enters Aries(0 - 30°)or Leo(120 - 150°) or Sagittarius(240 - 270°) and re-enter when Jupiter leaves that signs.
Market down days for March are 8th and 26th. On 26th Nifty may loose more than 150 points( on 27th Feb 2012, positions were similar and Nifty lost 148 points).
Posted by Nandi at 8:51 AM
Thursday, March 1, 2012
marketmusic.blogspot.in...VIPANI SANGEETAM(on sirs MY BLOG LIST)
Analysis must not become paralysis...it is very deadly in the profession of trading!
"5630 to 5171" took 76 hours.
"5499 to the current low" has taken sofar 58 hours.
If it follows equality and the prices do not retrace more than 80% of the recent fall (Presently 5291), the low may be expected on the settlement day.
red spot comng near to ns levels,will push down again
The same similarity which began from 5630 and Ilango has talked about in Pre-Market View seems to be unfolding in intraday as well. It seems to be an evolving pattern lol?
5200 gaya....
Morning Illango ji & JN family,
Nifty has granted the wish today morning itself regd direction :-)
5084 / 5160 are support zones
cheers
Dear Ilango Sir
What will be the approximate target for this 5th wave?
@ Immortal,
Why blame the analysis when the doer gets frozen or chooses to be "inactive".
Analysis should be objective, empowering and directive. If not, it should not be called analysis but "commentary".
If the low is protected, it is assumed that a 5 from 5312 is done and a retrace is on..
@ Lakshmi,
I expect the correction to find its bottom either around 5154 or 5080 zone.
Some wave forms are clear to us but some could be deceptive if waves start to "sub-divide".
Go with the direction while part booking at regular intervals is the only sure way to
Get Rich Slowly and Quietly.
@Anil thanks for explaining... :)
Thank you Sir.
Daily bread is blessed.
thank you.
What gets a trader into "subjective mode" and read the prices erroneously:
When prices are downtrending making lower highs and lower lows, the making of "lower highs"(Bounces) are often misread as bullishness or reversal prematurely AND
the reverse during uptrends.
Very true Ilango sir
rgds~Ajith
Positive DIV on 5 min charts??? (RSI 9)
Thank you sir
good morning Sir, and all gems of JN
Markets are markets and no one knows what it will eventually do. But the job of the analyst is to always build scenarios and hope that one of them will work out :-)
Sir
I am learning divergences.
In nifty fut 5 min chart RSI making positive divergence??
This will a be rare event that too in march is we close the expiry at low .. that ... The Week Trend will assert over the Months Trend which itself was confusing since the start of month..
Goodmorning sir and all :)
VOTE FOR - 5200 - it will hold for this month and low may come in "april"
VOTE FOR - 5200 - it will break this month and make low this month itself
I am the with "FIRST ONE" (this is just for my seniors - newcomers stayaway)
(reason for my voting - if nifty has to fall means i am not able to imagine where BN and sensex will go it has to start their fall like "atleast jog falls")
Will join later.
PS : Sir my post is not "appropriate" at this time i request you to delete.
Oh sam asked, before me, mine is RSI14
on 5 min chart
If 1 -- 5386..5329
2-- 5329..5363
3-- 5363..5205
4-- 5205..5312
then possible downward tgts : 5220 / 5170-5185
and now if wave 5 is subdividing as
5(1) 5312..5261
5(2) 5261..5291
5(3) 5291..5205.
5(4) 5205- 5225
then the correction may end around
5185. Is this a correct understanding?
Hindalco ... The Extreme Red Spot Candidate :)
@ilango
thats my point...the more you analyze the more u become attach to your findings and the trader inside you become inactive or frozen duck becoz analyst is not conforming to it
@ Sujatha,
You are a follower of sensex and it has shown weakness even before Nifty could, by closing below its 50dma for two consecutive days.
Don't you consider this as weakness...??
@Jignesh Bhai... it is there na??
When prices are downtrending making lower highs and lower lows, the making of "lower highs"(Bounces) are often misread as bullishness or reversal prematurely AND the reverse during uptrends.
Observation in the above para is enough for a trader to trade and make money but ANALYST will dig deeper into each bounce and attach more reason and further complicate the multiple reasoning and lose sight of the most important factor which is "PRICE"
What is the larger picture after this second corrective ends:
Nifty is expected to move past 5630 towards 5750-850 or more.
Maximum this correction could go is 5077 which is where the SL for medium term traders is placed.
@sam
Yes it is. but i also want sir's confirmation
I am with Sujatha. My calculation says that we are done with the correction. The uptrend which started at 4500+ is in the 4th wave. In my calcualtion this 4th wave is done today at 5194. In worst case it may make another low arond 5170-5185. Then we will see uptrend in 5th towards north.This uptrend in 5th may subdevide and take 2-3 months. I have seen the charts of few scripts and they confirm to go up. The scipts like Biocon and Renuka are ripe for meduim term investment. I am putting money in thsese scipts now for very medium term. Eareir in Oct-10 I has exited all my holdings and now putting money in the same.
@SAM,
Mail sent.
updating the 34EMA, 30mins 21EMA, 5misn trade:
TSL for all shorts now @ 5218.6
Longs only on 30mins close above 5269.4 (34EMA, 30mins) ...
cheers
sir,
in 5min nifty charts it is making
H&S pattern and today taken support at neck line
but in bank nifty it has broken below the neckline
altho it has low relevance in downmove
but trgts if break below NL is 170 near points
sir from ew perspective one set of 5 waves 5385-5209/5220
another 5312-5194 the second one 0.62 of ist. if 3rd
of 3rd doesnt start today an opposite move higher
than previous day high may be in offing considering
abc might be complete
13.71% increase in VIX is too high for 1.47% fall in market...
Usauall A PCR above 1.20 Call for Correction till it does not move below 0.95
VIX is at 26.62 (Up by 3.27 points/up by 13.75 %)
We might close below 5200 today or tomorrow.
We have gone below during intraday already.
Namaste Sir Ilango and friends
Power cut!!! rampent power cut!!
May the Lord give us wisdom to prosper!
21ema in 5 min charts giving res to nifty upmove
34EMA trade update:
21EMA, 5mins TSL moves lower to 5212
Support zones to book profits:
5179 (S1 for Day Pivot) & 5160 (weekly Support)
STAY ROBOTIC !
cheers
@ PS,
My view is that if the correction gets over by Wednesday, the month trend could play its part a bit on the last 2 days.
The day could bottom in such a time but the week would be a guess work. And guess works are quite risky. Hence, one should play this week with a bit of cation if attempting to preempt the reversal.
Corrective in progress after the earlier low of 5194.05.
a: 5194.05 to 5216.9
b: 5216.90 to 5193.85(irregular)
c: 5193.85 is ON.
14lakh addition in 5200ce but
unwinding in 5200pe is just 3.6lakhs
Good Morning Sir and all blog mates. Sir, is N.S. forming
an Ending Diagonal formation with a double bottom formation
on 5 mins chart?
@immortal
reading VIX during expiry week..is a source of
confusion..why i observed the movement in expiry week, isa bit different than other normal weeks..and in india vix calculation it is the bid-ask spread
of near and next month nifty option contracts is used,
so rollover effects and mispricing in options when rollover is great accountable in this week till expiry...
Hi Parimal:
I do the following to overcome power cut issue:
1) I use laptop. (battery can withstand for about 3 hours)
2) for wireless & modem alone, I use UPS. (so that UPS can withstand for longer hours due to less comsumption.)
There may be many other ways ...
In my area power cut is only for 2 hours a day.
Break of 5193 negates the above label...
very true sir.
anyway breach of 5194.05 (5193.85 in irregular ) means
this correction is of small tf mayby just a correction
of 5311-5194. so the preemptive call for reversal
requires more info now.
5193 gaya
Europe opens at 12.30 today
The Momentum which was muted last week is just gaining the Required Velocity now :)
@anil...still the difference is too wide..i dont have strong research work to back my claim as you do so i would consider your observation having larger weight age in explaining the reason for wide difference..
ns at supp of Lower BB
positive div in SS and RSI 5 min charts
can a bounce be expected??
rajvada sir , i am still waiting for 4870-75(NF).
5208 is 21ema in 5 min charts
Dear PT, still you want Velocity? :) when almost 90 points correction is already @ 12 noon?
Thanks Nilesh... but sorry for late reply... as I was engaged
with some guests.
TLS 21EMA,5mins : moved to 5205.71
New Post Done.
Bulls would not like to go far away from 5223-5227 to keep Monthly trend intact, which is “upward”. If it shall, then probably the entire “trend” would become questionable.
Post a Comment