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...
31 comments:
Rupee Crossed 55 .. Enough for the bears now
@PT
how to manage tom jnsar. as i am holding shorts created 4912. should i long above 4917 or 4937. such BHEJADRY never happened with jnsar. as hourly indicator is also turning down and nifty broke hourly support channel as 3pm chart. now i am confused. please guide. hope nifty opening gap down and no jnsar triggere tomorrow!!!
Dear anmpatel,
Why worry? Nifty spot closed below today's and tomorrow's JNSAR... carry home the shorts. Simple!
@ANMPATEL
The Ansser is given by Saurav ... Still we have closed above
50SMA so Cat on the wall ... If NS goes above 4917 SL of
4907 .. lest it is short with sl of 4937 or 4954..
thanks PT and saurav
@PT
are you PATEL? where from?
@ANMPATEL
Yes Me from baroda ..
Village Sadhi Padra taluka :)
@ PT sir
Be ready for one big day of bears in coming days.
@PT
great. i studied at SSGH.
Good EVENING ALL,
nifty is above 34 hr sma and hr jnsar is above it.
that is short term breakout is intact.
Day JNSAR future trend is getting flat, is it reversal
or a pause? we will come to know after checking
our intergrity with JNSAR by the nifty.
week future JNSAR trend is down infact on the
important threshould that is on week 34 sma
Day J10 sar is crossed above the Day JNSAR
JNSAR traders should be cautious. control greed
make a mind set of profit booking, min losses.
today nifty not closed above day J10 sar minimising
prob. of rev.
Day JNSAR will be matured if nifty closes
below hr 34 sma for the short
above 4960 for the long JNSAR
let us see how prices are unfolding for the two days
till then cat on the wall.
regards!
Dear Ilango Sir,
Is it possible for you to put your trade's
table in post market analysis ??? So that your
STUDENTs like me would study & understand it overnight
& Prepare for next day.
It may be included in both Pre & Post Market analysis.....
Important
week future JNSAR trend is down infact on the
important threshould that is on week 34 sma
so we can not deny possibility of a big bear day.
PTbhai and anmpatelbhai,
I am also from Baroda! Born and studied in Guj Refinery Eng Med. School till 12th standard.
I scored poorly in my 12th standard and hence did not get any seat on MSU.
saurav .... Me from GREMS ... 97 12th science batch ... Mathai sir still the princip there ...
Hi PT/Saurav,
I m from Naroda,Ahmedabad.
Can U share ur experience with me.
Anil - clever...closed the shorts??? dow is showing :D anyway i will adjust in intra if gap up open if DOW shows it's original colour after europe close then all is well for bears
PT - wishful thinking and prayer - after EUROPE close dow should close flat or RED :) :) wat a selfish thought?? :(
@sujatha
Dow is doing that, means grow up so Europe go up in euphoria then after 9pm Dow uncle slip and close in red, since last week.
pray god today also Dow close -85. thanks.
@PT and
@saurav
will let you know when i will plan to come your city.
Namaste Ilango Sir & Blogmates,
Bearish: Dull day of trade with no party taking the advantage home…; Option Analysis for 21-05-2012
Duplicated at Wordpress Site
Thanks & Regards,
Sanjay Kr Jaiswal
-ve divergence in RSI and Dow in 5 min chart.
5 up completed in 5min chart?
PT,
I am from 1999 batch. Yes Mathai sir is still there... but I heard that our school got shifted to the Guj Medium School. I was from the Science batch... class teacher was Molly Ma'am. And you know what... I had gone to visit my teachers after my graduation in 2003 [I was visiting the School for first time after 12th standard] and my teachers were able to recognize me... my favorite Sally Ma'am and Mala Singh Ma'am!
It is such a great feeling to have found my senior to be a respected member in the JNSAR family.
Lets get in touch.
By the way, I'm not sure if I mentioned that... but my earlier blog ID was Buzz... thought it was time for me to get rid of the nick. :)
for chess lovers :-)
http://moscow2012.fide.com/en/home/12-news-en/327-7th-game-eng
@sujatha
nah sis...i closed bcoz hourly still showing some upmove...may be a gap up but think it may not sustain in opening it may test lower till 4870-60 levels,than a possible upside...just thinking alongwith 5min and hourly momentum setup...
@sujatha
It may also oblige to open gap down,by just watching 5min setup, i am commenting...i had no business to comment on DOW uncle...poor in correlation analysis...
@PT
@ANMPATEL
Jiignesh p kumbhaani
PATEL ho.
Jai Sardar
Anm- yeah wishful thinking :) if not also read below
anil - instead hourly check 30 mn. it's very poor stoch showing downside but as u said upside comes it is 38/49/76/88/5040 downside below 4894 - 4850/24/800 this is my ST target let us see 2morow me too never correlation..just a guess ..will follow our tech only other automatically follow
villain is rupee it's 55 .
Todays JNSAR was 4932 and the high made by Nifty futures
4931.95. Spoooky...:):)
From the chart given below ( Refr my Blog )
Wave A = 4933 – 4902 = 31 points
Wave B =4902 – 4938 = 36 points
Wave C – a = 4938 – 4895 = 43 points
Wave C – b = 4895 – 4906 = 11 points and it may progress towards 4917 / 4922 / 4930
Wave C may be forming as irregular extended flat. It may terminate at 4860 / 4850 zone which is 50% of movement from 4789 to 4933.
In case if market fails to take support at 4860 it may take support at 4817.
CONCLUSION
Initiate short at current level or near 4920 / 4930 zone with STRICT STLP of 4938.
Dear all,
Why dis kolaveri di...... ( due respect to DR sir ) regarding rupee.
Was in touch with a few fund managers. They say good amt of $ in sidelines waiting to enter, just that they are waiting for $rs to peak.
Post that, their cost of purchase comes significantly down, that too at lower valuations.
Point to note from their angle is that, there is no significant selling in cash for last 3 months, only hedging for short term gains.
It can so happen that the moment $ shows exhaustion, shorts of nifty will be covered aggressively with followup buying in cash.
Just a feedback, not for trade.
Regards,
Dear Sujatha,
As there is no doubt about the "current market trend" i.e. "down" ....then there must not be any confusion in trader's mind...
The cunning Bear would wait for Market to get exhaust,for his entry, either on Hrly,Daily or weekly basis after XYZ pull back rally,
He would like to wait for Nifty to come closer to at-least Wlema for tomorrow and then Wema & Developing Monthly pivot which are same @present, for higher gains.....because considering "green" everywhere,Nifty likely to cross JNSAR tomorrow and after crossing JNSAR ,it would fulfill it's duties ...means JNSAR +approx.80 to 100 points max.(considering current down trend...)
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