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...
48 comments:
@ Jiignesh
1st sign came Nifty closed below 5217 on 4 hrly chart now need to wait for EOD close below it.
reposting - "i still have hopes that second half of the year should be better for the markets...rate cuts has to happen else economy will squeeze to death....4th qtr results are giving hint of weak and poor nos"
@nakshatra
Yes, it will close below 5217-jan high, first time.
Sir,
Except'RAJ" hope all is "against my thought". All is well :) Regarding Sensex - technically weak absolutely but "with the some other technical" reasons i feel closing basis "it will show it's colour for a pullback". It's so simple if i say the No. u will find out what it is :D But no idea at all to overcross my "master" :)
If at all "no upmove today" then "arresting" here can show "a pullback" is not ruled out where the opportunity comes for "april shorting".
PS : Back to my "only No. game" No chart at all becoz of time constraint in coming months
I will give up to "bears" if close is BELOW 5200
March 26, 2012 2:07 PM
Testing Testing Testing Patience Now ... :( :( :(
dip may be coming again
IT index showing strength
@ PT,
At such times, watch TataSteel...Just broke the lows-443 with volumes.
@Immortal
Rate cut will not provide any solution ...
Rate cut is bringing liquidity in the market
but where it is going ??? Who is Benifted
What is Needed is a Strong Policy to reduce the Fiscal Burden .. By means of some strong Tax treaties and lessening all subsisides .
I will also go by closing all ration shops toooo
@Ilango sir,
Thanks a Lot :) :) :) results are out with Tata Steel :)
ns may fall slowly making lower lows till 3.30pm
tomorrow may be a small range bound day
@PT
first micro picture has to improve for macro to change....once the rate cuts begin there will be massive reduction in interest cost helping in improving the bottomline and it will also kick start the Investment cycle which was suspended/stalled due to high interest regime and help in improving the topline...
believe me this time govt will have to bite the bullet and cut the subsidy burden (looks a very uphill task and unlikely too but i am still optimistic at least on non-fuel subsidy burden which can be brought down to reduce the fiscal gap)
newys i am not a market pundit but an ordinary trader and will trade prices only..bullish or bearish doesnt matter to me :)
5175-5185 has been resistance in Oct -09 and support in Feb-11 and June-11
Test
Tatasteel continues to make new lows ahead of Nifty
sir does TATASTEEL always act as leader in nifty up trend or downtrend.
3.00PM TT updated.
Tata steel reversing...bouncing off the lows.
Are bhai itna sannata kyu he?
Nifty is set to close below Jan month high, JNSAR is short, still no celebration
@ shivanGupta,
It does lead "most often".
These are heavily traded stocks and they reflect the index.
@Jiignesh bhai and PT bhai
Last crack needed with your Hatoda then its all gone.
Dear Jignesh ji,
It is broker's day..
rgds~Ajith
sir a question on a candle stick chart while drawing a trendline should one join the highs or the bodies
IF P-NOTES ISSUE RAISED UNDER IT??????????????
@oru_indian Why broker's day??....
NS and NF open and high are same... then its clearcut short
indicated in morning.... even Sir also indicated on Friday
so ... why broker's day... its very good profit making day
for those who shorted.
@ shivanGupta,
Connect the highs.
FII Money , Tax on FII , P note, etc are yearly events, it happened once in a year, any one remeber When it happened last year ??
Dear Sam,
Profits gained in the morning given away due to non-alignment of thoughts and action.Discipline is is not easy .....As of now again short...
rgds~Ajith
SHABSAIF JI, IF OUT OF 1.8 LAKH CRORE OF FII
INVESTMENTS COME UNDER IT SCANNER, THEN WHAT WILL
HAPPEN.....
Nifty giving Bearish close on Day & Week.
Well below 5205 zone as well as 55DEMA (5245)
Last time it went below 55DEMA, Nifty spent 2 months below this !!
hello sir
please suggest some link on W%R. thank you.
can somebody update about bank nifty technical's as well ?
Thanks Jiignesh bhai and PT bhai
aapke hotode ne to kamaal kar diya....:D
@shiva
Visit Stockwealth, bankniftytrading.
Finally an Hourly candle is being formed below 5200 and poised to break monthly lows.
shiva
http://wealthinnifty.blogspot.in/
I am learning discipline from Ilango. His guidance from time to time is really helping me in keeping with the broader trend and not get carrier away by the minor bounces.
@ gkm223
....Thnan we need some swiss deposite money back in India....haha
Thanks DRSIR
seems to be closing around 5186.7
will it be a gap down tomorrow to break that key support or another lame duck bounce? chances of former is higher than latter...trade prices and keep it simple...bye!
A closing set up similar to Friday's close..
Just Ameeen :)
Dear Ilango Sir, Do you observe FII ,Open INtrest in F& O
Last friday, FII added 3600 Crore in INDEX OPTIONS, before that the added 5000 Crore in 4 Days....
On the down side a NIFTY CLOSE below 5177 will open down side TARGETS of 5079 and 4947.
@ PT
Summa Ameeen......:)
previous fall 5630-5171=459
459*1.38=633
now fall may be 5499-633=4866????
thanks Dinesh Rishi and Jiignesh
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