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...
47 comments:
Hrly TA would play vital role to keep this current Hr.up-move intact…
Since morning 22 lac additions in NF, means Quota for a day like today, is almost full. Now the ball is in Bulls court….
bank nifty and midcap index again towards higher highs
struggle at 5469
@mynac
5500 to breach will be cumbersome..for this time by
bulls...morning 1st hour addition in put not good for rally...many studies pointing atleast its top set for the day..or few days...
unless sujatha...kills bears this time...
ns knocked many times at 5469,now seems retracing a bit
to gather momentum to break wall at 5469
O.I in 5500pe is increasing
Rohit Shrivastava
The chart attached shows the Nifty along with a 30 day average of the Nifty futures premium
to the Nifty. The indicator moved above 30 for the first time in its history near the top in NOV 2010
Even in 2008 the readings did not exceed 21. This week after sustained premiums in the Nifty
the average is now above 30 for the first time since 2010. I believe this sentiment indicator like the
VIX at a low is giving an indication of extreme bullish sentiment, a contrarian indicator for trend
Dear Anil,
Very true. Plus off- loading of 15 lac NF too in just ist Hr.of the day was not a very good sign for a day.. Nifty is yet away from its intra High volume cash trade
S&P CNX defty...chart...
http://imageshack.us/photo/my-images/337/cnxdefty.png/
Illango ji :
From EW angle has subwave 5 of IMPULSE from 4531 done a ED here?
3-3-3-3-3 ED in play as:
1.1 4531 4801 270
1.2 4801 4577 -224 -83.0%
1.3 4577 5629 1052 389.6%
1.4 5629 5171 -458 -43.5%
1.5 5171 5441 270 100.0%
a 5171 5420 249
b 5420 5328 -92 -36.9%
c 5328 5499 171 68.7%
d 5499 5438 -61 66.3%
* d can do =b=100% = 5407 ruffly... followed by wave e UP ?
urs
@ Shriram,
"ED" generally has overlapping waves..typical of the tussle at top/ bottom before giving in to a reversal.
This one doesn't have overlapping.
DEAR SIR,
LEAD INDICATOR TURNED DOWN SO WE SHOULD BOOK OUT OR
WAIT FOR MORE UPSIDE ?
@ Nilesh,
The Day/ Hour Lead indicator combo is yet to confirm a sell.
Only part booking @ resistances was suggested. And intraday selling...5 waves completion for a bounce...reselling at retracements...all these for "Intraday".
EOD Longs are intact. More unwinding of longs would be warranted if closes below DHEma.
mmm.... good point sir... 4-1 overlap is not visible..
in that case we can look @ move UP from 5171 as a simple Motive Impulse
with sw1 (249) > sw3 (171) > sw5 ??
wot do u feel ?
After 25 Trading Hrs.Hrly.KST indicator standing on the bank
Mynac . . . Means ?
Illango ji,
the point i m trying to dwell on is that,
this "alt b" lable is more suitable for a slow grinding up move, not best fit to this present FAST & FURIOUS rise...
And since B cannot be a 5fifer... this move from 5171-5499 may need relabling ??
Just a doubt, can a ZZ be so fast , gaining 400 pts in 4 days ?
nifty gearing for last spurt
U.S.Dollar index and stocks having negative co-relation
are rallying simultaneously.
Something has to give up
which one is more likely?
Does anyone track it?
@Anil How would be selling 5500 CE and PE at same time??
@shriram,
Please consider a Triangle scenario too, from 5630 onwards. Just a thought.
PT
means standing on the bank to withdraw money ;)
Dear PT It’s Not Rule but Just Observation…
Means
Pointing towards south and it suggests likely downward moment in coming Hrs,… Not immediate …But as I follow it religiously :) used to watch it during trading Hrs:)
@Mynac ... Thanks a lot ... Cooldent ... Lolzzzz
@ shriram,
In the hourly chart, 5171 to 5499 looks like a simple "abc".
Hi fire,
Strictly looking down from 5629
the move 5629-5171 seems like a ABC or WXY (3waves)
If we are in a CT down from 5629, then the wave shud be a
LD 5-3-5-3-5 na ?
If this CT is the 1st ABC of a larger DZZ ,
can that CT be a 3-3-3-3-3 ??
Someone pls enlighten me on this peculiar case?
--> Can 1st ZZ of a DZZ be a regular 3-3-3-3-3 CT ???
5460 Pakadake Rakh... Chodna Nahi.. !!
30 Min NF chart is consistently trading below rising
Trend line drawn from recent low of 5200.
Also it appears to b forming a falling megaphone shape
chart.
Dear PT,
I don’t understand it too much but it’s combination is very unique and as it is slow mover, normally gives early intimation. There was a doubt about this up move as DKST was and is not yet supportive, which create doubts in mind, so would like to remain cautious Bull or opportunistic bear….
@SAM
no messing this time...till pranab da..clears the air...
Ok illango ji,
lets keep ane ye on 5499 that wud tell us the way ahead maybe ..
Pls do clear the doubt i hv put to fire, can the 1st ABC in a DZZ be a CT ?
urs
@mynac,
Could you let me know the parameteres used for KST?
@ Shriram,
"5499" holds the key for more upsides.
It can also be argued by the bulls that a new uptrend from "5171" has commenced. If so DHEma should be protected preferably.
If a "c" wave down is pending, it should commence immediately for "times sake".
Railway fares hiked by our Railway minister
* For suburban trains, the proposal is to hike fares by 2 paise per km.
* For second class passengers in mail and express trains, the fares are proposed to go up by 3 paisa per km.
* Sleeper fares are proposed to be hiked by 5 paise per km.
* AC Chair Car fares are proposed to go up by 10 paise per km
* AC second class fares by 15 paise per km
* AC first class fares are proposed to go up by 30 paise per km. This is a significant hike. A Mumbai-Howrah ticket would now cost 30 per cent more than before.
* A platform ticket will cost Rs 5.
Dear Sanjay,
It’s part of TA File. Probably you may get it there as I am not tech savvy…
mamta bannerji asking rail minister to roll back the rates hike or resign
@ Sanjay,
Download the "JustNifty TA" file from the link given at the top right corner of this blog. You'll get the parameters.
Thank you mynac and Ilango sir for replying to the new comer like me.
When Market covered the entire fall of the last leg in faster time is an indication that trend has reversed. In our case from 5382 market came down to 5171 and the same was retraced faster. Also market has retraced the fall from 5459 also indicates, Wave b completed at 5171 and current up move will continue and if at all any correction takes place it is limited to 80% of the rise from 5171 to the level at which it will correct.
Wave A = 5171 – 5421 = 250
Wave B = 5421 – 5327 = 106
Wave C = 5327 – progressed so far to 5499 = 172 which is approximately 69% of Wave A.
As per my observation, not rule, whenever Wave C retraces more than 66% of Wave A, it tends towards equality with Wave A if that happens market may touch 5577 before making any correction.
I asked my wine shop manager also to quit the job when he increased the price of beer :(
Fantastic illango ji !
just loved the way u link, EW with Hi-lo EMA :-)
price close > 5DHEMA wud indeed tilt the balance for the BULLS
Am sure u mustve noted but still, @ cost of sounding repetitive :-)
Pls also note that 5-10DEMA X-over has occured & this is the 2nd close above 20DSMA ...
urs
Dear Mynac
38 lakh volume bar at 2.35 at 5459 .What could it be?
Is IT forming Hanging Man pattern on Nifty today?
for any formation near like Hanging Man, Nifty must close above 5480
Since 1 PM Nifty unable to stay above 5470 … Almost 7 lac addition in 5500PE but less than 5 lac addition in 5400 PE … Interesting day tomorrow…Till then Thanks & Bye everybody…
P.S. Dear Lakshmi,
It shall have importance even for tomorrow. Thanks for the intimation.. Will watch it tomorrow too.
Please read as ......
and if at all any correction takes place it is limited to 80% of the rise from 5171 to the level at which it will reach.(5499 / 5577 )
You are right Jayaraman,
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