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...
75 comments:
GAP Filled What Next
NF Knocking at 50 sma
Buyers still not coming ...
@Ilango
Awaiting your karmic effect!!!!!!!!!!!!!!
may be 5268 again a resistance
@PT
waiting 4 sir's words to understand what next :):):)
4th trading days down move. tommarow is 5th day.
102 points move 5340-5238 done intraday.
@Jignesh
Me too waiting but at present booked all .... fresh trade
after the Golden Words
Sir,
what is the status of 50/100 DMA "the great golden crossover level" which everybody was talking about???
this month 5,6,7 close was below 5300 level but "bull" back with "power" if at all "5212/200" not breached means??? what's your opinion "for long term" "i hv done some work" would like to seek ur valuable views. While coming i don't want 2 jump "hi hi" let my "foot firmly on this floor" :)
tks n advance.
I will also book at closing, will add more after close below 5217, jan high
Part booked after filling gap.:)D
@ all JN friends and Sir
Many many thanks to all who have directly and indirectly wished and blessed me and Reshma both on our Marriage Anniversary.
It is very difficult me to express my gratitude to each one separately.
Being busy during market hours and also due to power cut in my area, could not reply in time.
Extremely sorry for that.
@kaka
Em thanks thi nai chale, party to aapvi j padse
If not able to cross 5267 then .. again steep down
JNSAR and other SAR traders better to stick to their respective numbers without any mess for the next 2-3 trades. It’s coming!
Jiggs - i don't think closing will be below 5217 sensex and NF didnt breach touch impt. "my support level" or it will slap me and tell "at last"???? :D who knows "should be ready"
@ Jiignesh,
Come on dear here at Ahmedabad,
My doors are always open for all JN friends
@Jignesh
Sachi vat ... @Gauresh Bhai .. Amdavad avvu padse have
Thanks Gauresh-bhai for your great hearty invitation
wish you again all the best
@Sujatha
I think this whole week is important, last time in 1st week of march nifty managed to close abv 5217 two time by 5pt. This time its highly possible if you all bulls favours us then close below 5217 possible and that will open flood gate,
My eyes now only and only on 1number for whole 2012 that is 5217
Chalo badha sathe jaiye Ahmedabad, kaka ni anniversary nu celebration thai jay
I think 5080 level (50% retracement) approx. is the level where medium term support
may come.
@ Sujatha,
Golden cross took place @ 5168 when 50DMA moved above 200DMA.
I clearly stated here that such an effort would weaken/ exhaust the index that they generally "pull back" towards those averages.
First to 50Dma which is now @ 5230 and weakness persists to 200Dma which is @ 5167.
Somebody asked about 5200 PE price not moving up,
it is because nex week is expiry
5265 NF tick - volume 250850
a highest tick for the day...till now...
@ PT,
Ahmedabad is nearer from : Baroda-Halol...
You too accompany him...
Just for information I visit Baroda every two months
My Son has joined Sayaji Civil Hospital, at Baroda
as Assistant Professor.
WLEMA is acting as support...Lets see..
5200 & 5100 Puts short covering on with price increase, option experts pls give ur view.
Sir - thank you very much for your guidance.
Jiggs - Y close is not below that - another reason BNF has to breach 10100K strongly
Anil!
at 9.16, NF@ 5320, volume tick at 424000, highest for the day
Sir - your 34 ema is "clue" for me for "short term" in different method + close is abv 5290 or nearby is OK for short term.
thank you onceagain for your "34ema"
@sujatha
I am considering 10147 for BNF, wlema.
A close below wlema, on weekly chart then weekly trend will turn to bearish and then bear will strike heavily....what u says....
Jiignesh...
Nifty continuously trading below 34EMA on 5 min chart since morning.
Thanks
@chetas
in my TT highest tick occurred as i mentioned..i am
not getting at 09:16 as u mentioned...
Finally 18EMA, 5mins, system shorts covered now with close >5258
Short was created @ breach of 34EMA , 30mins on Friday @ 5406
simple is best .... :-)
Good afternoon Sir and all blog mates...
Thank you Sir for your analysis. Due to Internet problem, I am unable to participate with my blog mates. Part booked @ 5268 NF.
Thank you DR Sir and all Seniors
@sujatha
One more thing i saw a head and shoulder possible on daily chart with neckline at 5260, but sir yet not confirmed it.
Bump and run reversal breakdown level is also 5260, so close below 5260 will activate 1 highly bearish pattern and if sir confirm head and shoulder then 2nd highest bearish pattern will also show its color
y
Nifty Below HLEMA & DLEMA and very near to hit WLEMA.As per lead indicator TA shows over sold.
Can it take long with WLEMA as SL or remain in short as per camrilla
Master can u guide me as i'm in the initial stage of learning
Failing at resistance
Shriram -watever system "u observe whether 5sma/ 34 ema/ 18 ema, cam" etc., mkt mving and giving exact good result thing is "r v following religiously ?? like DR or SIR??? or few may be here too including you but I am not :P :( :P habitual offender of doing something "different in advance" but result will come 'little late" :(
Dear Sujatha!
Nobody can trade like you, you are exclusive trader...Sujatha the best:)
shriram, now where will yu take new position
@Kumar sir,
Trading aur hedge mein to koi aapse upar nahin hai! Baat to aapko manni padegi!
Nobody can hedge like you, you are exclusive hedger...Kumar sir the best:)
Kumar sir - lolz :) will call mam "and tell her to cut 2 rotis" in your QUOTA
No sir..honestly saying..i am failure in maintaing "discipline" and as per EOD long term target done 5235/44 so is this support?? even NF giving support + sensex too borderly :P :( pray for me and wish me "for good disciplined trader" :)
Hi sujata:
I discovered this 34EMA 30mins ENTRY, 18EMA, 5mins EXIT system just 2 weeks ago , and all credit to illango ji for it !
Am using it purely for intra or 2-3 days T/F trading...
for swing positions i jus follow the 5D Hi-Lo-EMA close PLUS 5-10DEMA x-over for ENTRY, change in Slope of 5DEMA for EXIT
ROBOTIC TRADES.. Its working fine for now, no EW, no VOLS, no OI checks..
SYSTEMATIC IS BEST :-)
@5239 correction of 80% for the rise of 5171 to 5499 = 328 is over. the current up move will move past 5320 / 5430 in one or days and there after 5500 on 23rd Friday around this time. This is as per my understanding of Neowave theory.
typo error. Please read as
... one or two days.
Hi Ajay:
As per the 34EMA,30mins system, ENTRY is based on PRICE BREACH OF 34EMA
For a FRESH TRADE u shall have to wait for Price on 30mins T/F to close above 34EMA (currently @ 5330), to go LONG
or, wait for price to BRIEFLY PEEK above 34EMA & then CLOSE BELOW it to go SHORT :-)
EXIT : Wen prices touches 18EMA, on 5mins T/F ..:-)
cheers
Dear Buzz!
Thanx for ur kind words but hedging & trading are totally different thing, Sujatha is pure trader so she deserve applause.
Dear Sujatha! Total two Roti is my diet & u will cut that too:P
@Jignesh
Again taking shorts for tomorrow... 5267 protected/resisted
more downside :)
This correction may continue till rpower goes to 108 level.
This is as per new theory.
@PT
Good good, big bears
thanks shriram
Shriram - mm..anything like " am getting fire's from close friends" for sitting long time with system.. yeah from coming month i hv 2 cut this at any cost :P ROBOTIC systamatic trades are best when i know only 'CAM' i was "very good" NOW VERY BAD :P let me see
Jayaraman sir - mm..but need moreeeeeee
@saibhakt
agar Rpower ke theory ke hisab se chale toh..india ka
bantadhaar ho jayega...
joking..dont take otherwise...
@jayaraman
thanks,,,,my momentum studies too pointing upside....
@sujatha
let it close above 5275-80, then gap up...
Anil
Budget ne bantadhar kar diya ... next year kahega ki
crude bahut upar tha so fiscal dficit is baat bhi kam
nai hua ... agle budget meinye hi hoga kehne ko...
Kay pata Tajmahal ko bhi bechna pade ... as a historical
place disinvest ment :D :D
@Mr.shriram !:
Again if it closed below 18 Ema in 5 Min T/F, How you will execute a trade? (already it is below 34 Ema na...)
closing below 5320 is bearish take care P
@ Sujatha ji,
In 4 days from now to 5500 is 250points. Asking more is dangerous for financial health.
@PT
lol
Anil Bhaiya!
5171 todna hai....momentum ko control karo:)
@Kumar Sir,
Kal Gap wa ko down kholte hai at 5171 :)
@kumar sir,
bas aapki meherbani chahiye,warna hum kya cheej hain...
Kumarsir give me close below 5217, i will try to help you in 5170
Hi prabhakar...
No, ENTRY is based only on 30mins T/F, 34EMA...
Reason: High Probablity Trend emerges ONLY @ HIGHER DEGREE
18EMA , 5misn is PURELY to EXIT
If market trades below 5200 look for very far away target in downside.
My SL for my above posting is 5200.
haha.. yea sujata, i was like tat too, till i found Illango ji's bloh!
Tried using masala mix of EW, classic TA, but NO SYSTEM..
Traded like MISGUIDED MISSILE ;-)
One must get out of this frame of mind.. where one tries to PRE-EMPT or PREDICT
Personally tats wot JN has taught me:
Predict u will perish, Follow u will flourish :-)
Dear PT Good Afternoon…,
Just read your gap down khwaish… 5171…but …market probably going to take support around here and would stop here …at least for a day or two and probably then only would decide it’s further journey…lead indicator suggesting bounce back from here. At least up to day pivot….tomorrow. Aggressive writing evidence @ 5200 PE was there… Let us see…
A close below DLEMA indicates further down or short term pullback is thr with 5230-5241 as support as TA indicates oversold.
Seniors any body can guide me if i'm wrong
i have bought some 5000 puts, if nifty closes
below 5000 ,it will be good for me.
@Mynac,
Thanks a Lot :) BN has already given 700+ Points
Thats was a Jackpot from 10800 :)
@ shriram
Agree with you.
Predict u will perish, Follow u will flourish :-)
Seniors,
pl comment on such a low value of VIX, which has come down to 22.97.
if my knowledge goes right this is directly corelated to the "risk" or "fear" in the system.
does this show that the market is ready for a bounce, since the risk premium is not that high.
Regards
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