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...
54 comments:
@ Master
Thanks Always.
Look upto "abc" upmove/TT table.
@ NOBLE,
"5155" is MEma
"5100" is Month JNSAR.
Correction could end around this zone.
A move past 5235-40 would be a breakout of the first channel.
A close above 5254 would signal first strength to Bulls.
Thanks sir.
Buying options today sepcially puts can be rewarding
and risk taking also,bcoz with 2 days to expiry..if mkt remoans near to 5200 zone..then expect 5200 PE CMP 59..reduced to atleast 30-35...today itself..at 5200...
so writers must be having some plan for the day...
I think 1st support may come around 5120 level.
sir ,
bank nifty below yesterday low. if nifty also breaks
it we can be confident that its abc. else there
is some risk of new higher tf wave 1 from 5175 low
yesteday. divergences now spilled over to day too.
Morning Illango ji & JN family,
Need to close above 5225-5238 EOD today for BULLS (LTL & 55DEMA) !!
For Bears its a party otherwise, look @ 34EMA 30mins to see y ..
Have a gr8 trading day :-)
cheers
Alisha baba shame on you
@ sir
thanks for eradicating Alisha
from the blog
@ PS,
Yes..Triangle's relevance is diminishing.
Correction seems to be over and good above 5200 2 minute
chart 34 EMA.
@anil,good observation.premium eating srategy could be under way.so,enter or exit trades on signal only.
sir,
to me one risk for bears wud be a triangle slightly
relabelled with c labelled at 5238 (19/3) d at 5386
5386 22/3 and e ending. sir even 5 min charts are
confirming(as it looks to me)
to this lets see if it happens or not
Sir, can I take positional long trade past 5255 even if
JNSAR is not triggered?
Rounding pattern around today's low of 5284
@ PS,
Such a labeling doesn't sound alright.
A simple "abc" would do in such a case of bullishness.
if we make another high above 5206, it will complete 5 waves up in 1 minute. this may signal end of down move.
@rajvada.. todays low at 5284...that cant be even a high of the day :P
sorry it is 5184. typo error. pls look at rounding pattern
is gap filling done..will it go up now?
GM master and all.
5223-5227 will be stiff res to cross
Trading above "5211" again.
Above 5230, channel breakout.
closed below HHEMA
guess ns may move towards 5151now...sl abv days high
11.00AM TT & Chart updated.
Look out for 34EMA, 30mins cmp @ 5234.. if we close 11:30 above this, good to GO LONG!
5232 is 55ema in 5 min charts
ns facing res exactly at 55ema...
\if breaks below 5210 then fall can be swift
USDINR below 51
sir daily lead indicator is showing positive divergence ,does this has any relevance
Buy level between 5201 & 5208, 62 and 50 % retracement
IT IS 5203 & 5208
DI crossover on monthly basis triggered a
buy in Feb with a range of 5159-5630.To trigger a sell march
monthly closing should be below 5159.
ADX DI monthly cross over invalidation point never
happened in next month in the last 8 years!
no updates on the LIFo 34EMA trade: no trigger yet
lets c @ 12:00 noon ...
@ adx, thanks for information. can
u pls tell what settings u prefer 4 adx?
@Rahul,
ADX setting is the usual 14 and gives good signals
looks like we are heading Lower
DOLLAR 50.94(-0.38)
@ADX
Thanks for the information. How much is the max & min retracement that has occured in last 8 yrs after the signal generation? If you have studied this will be quite helpful.
Thanks.
many indices of world mkts are near month high,
so this puzzles many , sometimes to me also.
wat i most like about this place is to see so many different angles
with which people analyze the market...though i am pretty orthodox
in approach to trading but as an analyst it is absolutely fascinating
to read and understand the different approaches...Cheers to JN Blog :)
can v call the google 2 min daily chart a cup and handle?
even yahoo 5 min ?
@rrkhan.... We can not call GOOGLE and YAHOO charts...
as cup and handle but we can call the same for Nifty charts.
.......:)D
Cup & handle being formed on 30mins ...
Can go long on breakout above line from 2 days tops i.e 5220, SL is 5207 ,
Tgts : T1: 5255, T2: 5280
For conservative guys : Wait for 34EMA , 30mins to Confirm & ENTER
cheers
RUPEE getting strong against DOLLAR
Good Morning ILango sir & everyone!
Hats off Rajvada ji, market dancing on ur tunes or say you are following very well nowadays. Now Sujatha is big villain for bears, she is loading full truck of 5400-5500 call options:)
Thanks dear adx.
@homeopathy_doctor
ADX DI crossovers depend on closing prices only.
Feb signal is a buy signal with a monthly range of
5159-5630.So as long as the subsequent monthly closes
between the above range it is a buy only.Interestingly
subsequent months are always trading in the direction of
signal, in the above case above invalidation point 5159
until a new DI sell crossover above 5630!
time for some laughter
what is one thing you can't find on GOOGLE???
Look down for the answer
Rajinikanth because you don't find Rajinikanth; Rajinikanth finds you :D
New Post Done.
@Shriram... why you are giving calls???? Don't you know thatgiving
direct calls is not allowed.
after breaching 233DMA successfully yesterday
nifty is strugling around and above it, may
be sharp fall , 5159(ns) to be watched.
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