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...
81 comments:
Thanks Mynac,
How to know additions in an option is buying or writing?
I mean unlike futures...options premium come down with
time...so at this point..4800 PE price is high with OI
getting higher so doesn't it mean its long buildup ?
Dear Prabhat,
There is zero value for our wishful thinking here. Market selects it path by it’s own way…we just try to understand and interpret it by our own way…as per our experience and understanding.. Some times we are correct..Means we are with the market and many times we are not because…. :) :)
Dear Nilesh,
Kadhi kadhi matka lagane mhanatat te yalach pan Nifty ne 4845 jar hya tasala cross nahi kela tar ti navin low dakhvel hyat majhya manta shanka nahi.ani 4830 todalyavar ..jo atta hya ghadila siddha weak support cha he hi Bulls sathi shevatchi sandhi ahe…tya mule te jordar prayatn kartil ashi aapli ek vedi asha. :)
Goodmorning Master and all JN friends
Wishing you a Great Learning and Earning Day today.
Regards always.
mynac - that's good one about the puts how u r monitoring @ this juncture...then this hr end we will see 45 to 60 level
@mynac,
aapali vedi asha purna hovo. :)
bagha bahinabaihi apalya barobar aahet.
Dear Traveller ,
It’s very easy… it needs some observation and experience only..
In last Hr.( around 9.45 AM)when Nifty came down up to 4838…i.e. just 8 points away from it’s day low then also 4800 PE was hardly trading @ 61-61.50 ..when its real top is 67.35 today & low 58…and there was addition of 2 lac plus O.I. in that scrip…means someone is deliberately not allowing it to go up from here, in spite of down trend, and keeping away those buyers away from the higher price, where they want to square off it.…
Dear All
For everybody's revision :
Corrective upmoves' 2 negation points are:
4853(aggressive)
4822(conservative)
Reversal attempts are "feeble" in nature so far.
Good Morning Sir and all.
Thanks Mynac :))
I will try to observe it more.
Is that a Triangle in the intra chart? If it is, then perhaps the last leg of the move of an order is left?
Downside complex correction is still in force,I'm holding partial nifty futures hoping with further downside
Dear Sujatha,
Why I want market to retain today’s or recent low? ? Am I buyer here? No… the selfish reason behind the same is that …it will give me more good trading opportunities for the day… week & months to come :) because more players would join market when they will see the bottom is there and … they would come out courageously to buy… which a opportunistic seller want @ this moment…when the trend favors them.. :)
when 5DEMA reverses direction & then re-reverses it within 1 session, it is often the Harbinger of an EXTENDED IMPULSE !
This one is developing into such an impulse, 4531 may be under threat !!!
GM to all,
After long time since April Fire sir ur comment appear.
"Is that a Triangle in the intra chart? If it is, then perhaps the last leg of the move of an order is left?"
Firew sir, Plz elobrate it for nifty? unable to understand
@Mynac: I am waiting for break of 4822. Then watch the
4800 PE rocket above 75 levels.
shriram - let it be in June :)
Mynac - thanks :)
prabhat - after one upmove plsssssssssss me too waiting to add more thoda help karo na PT also will join (hehe without his permission i am pulling his legs)
Hourly indicates there can be reverse intraday move ..lets see .
"when 5DEMA reverses direction & then re-reverses it within 1 session, it is often the Harbinger of an EXTENDED IMPULSE !
This one is developing into such an impulse, 4531 may be under threat !!! "
this is the most imp. statement of today - jai shriram
श्रीराम ,
नको राव !!! अजून काही महिने तरी ४५३१ टिकू दे कारण तो टिकला तरच हे down trending मार्केट चालू राहील...नवीन लो लावला तर सगळी मजाच गेली राव... कारण सगळे equation च बदलून जाईल आणि पुन्हा ६३३८ पासून नवीन लाईन draw करून नवीन अध्याय सुरु करावा लागेल.. सध्या कस आपल बर चाललय ! म्हणजे दर दोन चार दिवसांनी आवरली टेक टेबल ovar bought झाल्या वर फक्त विकून ठेवायचे.. बिचारे आपले बुल्स धडपड करत करत निफ्टी तोलायचं प्रयत्न करतायेतच..हेच चित्र हवे यार...
@prakashbkc,
A triangle is usually a continuation pattern. The interesting thing is - it USUALLY appears at the 4th or B wave. That means it precedes the last leg of the prevailing trend. So a trader can be alert seeing a Triangle appearing and can attempt a contra trade when the top of the triangle is breached (in downtrend) with the low as SL. Please remember the order/magnitude.
the triangle I saw just now is in the 2-min. charts. So, unless it is a part of a terminal move, no major significance should be given to it.
P.S. No sir please.
fire - totally don't understand anything as usual can u post your figures tks n advance and happy to see u back @ important juncture
@Mynac , translation for the lesser mortals like us :)
To all,
good morning master and all.
Fire sir,
Triangle is broken down on 2min chart so is contra trade still valid
if top of triangle break in coming hrs
Dear Sujatha,
Means you just want that whether it favors Bulls or Bears and whether it will go up from here or down. ? Am I correct?? :)
USD-INR almost "ab tak chappan"
@Sujatha Ma'm: Not sure above upmove ma'm. If yuo watch yest, even
though all world mkt was green nifty was not moving down/.
That was the pessimism. NIfty did not even break 4960.
I guess rupee is the main reason for it. Look at SBI how it
fell. Hence I feel BN may not support this time.
What ever upmove has to come it may come from 12:15 to 1:15 pm
I am closely watching europe than nifty now which may
give clues for the late afternoon. As PT also mentioned,
we have to watch Dow tonight for tomorrow's action.
Rather than our economics here, we are impacted more
by the global mkts. RBI's move to buy 12k crore G-secs is to be watched.
@mynac,
4700 PE almost added 12 lakhs having OI around 89 lakhs. Your thoughts on this.
Protecting"4822", could being in an "attempt to reverse".
However, it gets confirmed only when Nifty manages to close above 34 Hr sma.
म्य्नाक भाऊ,
कृपा करून थांबवा हा अस्वलाचा खेळ. जरा बैलांना पण जिंकू द्या कि.
Dear numchar,
So it was addressed to Prabhu Shriram..:)
sir ,
What support is 4822 ?
It is sure to break it...
mynac saheb,
bail-pola kadhi yeto ?
kal-nirnay ughadun bagha zara !! ;-)))))
@Mynac: You are in great demand today.
@PT: Sir please bring down nifty below 4800 today.
@Master: Please bless we bears today.
mynac - yeah..these triangle, rectangle, round shhhhhh don't understand any damn thing :P :( no shame to accept :) am giving some important to candle for ST so still believe one upmove pending to add more...positional is "ON" only with SL of 4911 according to me for short term it's around 3 bottoms at that place intra view idn't hv idea to TAKE BACK :P adamancy?? donno let me see 4800 breakes or not today
It is sure to break it... OHHHH mynac - sir against me :( :(
Camarilla Intraday Follow Up:
Trade1 - Scenario 3 - Nifty Spot
L3@4831[BUY]
L4@4802[SELL]
with stop of 20pts.
Now below 22
Curr. Position
HANG SENG - HONG KONG 18674.31 -364.84 -1.95 %
SHANGHAI COMPOSITE - CHINA 2357.56 -15.75 -0.67 %
NIKKEI 225 - JAPAN 8565.75 -163.54 -1.91 %
STRAITS TIMES - SINGAPORE 2788.81 -34.94 -1.25 %
KOSPI - SOUTH KOREA 1803.57 -25.12 -1.39 %
TAIWAN WEIGHTED - TAIWAN 7143.40 -131.49 -1.84 %
@Mynac: What you said is rue. Not allowing 4800 PE value to
rise... break of 5822 & still Not rosing 72. hm.. something
fishy.
just read somewhere
Rupee will soon become "Senior Citizen"
Dear Ilango Sir & Blogmates,
OI Update at 11:00 AM
Weekly VAL at 4799, below its sea of Red...
Thanks & Regards
Dear AimNifty,
Now a days it’s very easy or frankly to say “somehow brainless prediction” that it will go down from here & there. Nevertheless, means it is good support there around 4700,if Nifty shall want to go there from expiry point of view…considering weekly oversold condition …probably it would not go there, nevertheless
ऋषीचे कूळ नि नदीचे मूळ शोधायचा शहाण्या माणसाने प्रयत्न करू नये अस म्हणतात. ..पण आपण शहाण्यात थोडेच मोडतो ? त्या मुळे इकडून तिकडे फक्त उड्या मारायच्या हो... आणिक काय ? खरे कि नाही ?
L&T @ 1155 and HDFC BANK @ 484 (200 DMA ) not relenting.
Critical levels to watch.
@Sujatha,
LOL...I don't track Nifty much nowadays but trade in USD-INR.
Simply, what I tried to say is - as an example, IF 4845 (Triangle top) is broken now, I would attempt an intra-long with a suitable SL (or whatever low it makes before breaking 4845, provided its not too far).
@Prakashbkc,
Hope it helps. :D
@mynac
एकदम खरे १००%
@ Sujatha
Which candle suggests you that there is an up move is pending? Kindly enlighten me.
Regards,
LV
BN slowly slipping in uncouncious autopilot slide.
sir i short nifty 4857 (fut)...can i booked profit here or waitin
Surprisingly BHEL and BN protecting 4822 as of now.
Sun pharma,metals and Maruti pulling it to our targets.
Fire - thanks coincidence my EMA is there am waiting for that whether it will touch and back or crossing last swing low is my SL - my intra view is different so sofar no take back unles my SL hits :( hope it should not hit
"Bakre ki Maa Kab tak khair manayegi".
Europe opening in another hour or so.
Kindly enlighten me. - LV sir - eppadi pootu thakkareengaleeeeeeeee :( :(
i am "ant" infront of you (don't say it will bite sharply - as it will die soon once it bite)
check "30 min"chart nearly 7 days.
fire - forgot pls. mail me the details about the USD-INR trading
Dear Sujatha,
An hrly close above or @ 4830, would be first baby step for Nifty towards 4845…
sujatha madam
kindly enlighten us also with ur
vicious studies what do u see.
☺☺☺
4815 is a small 30mins TA support zone ...
nifty may ping pong here for an hr :-)
@ Sujatha
Thanks for your prompt reply. Checked. Not able to appreciate the significance. Anyway I will study overnight again and will give you feedback.
Thanks and regards.
LV
@shriram From Chess -> Ping Pong
LV sir - ERRRRRRr sorry for the inconvenience caused i am talking about "NIFTY FUTURE " not spot
mynac - my ema is decreasing so possibility to bounce??? y this kolaveri for me :(
IN the weekly Channel(Nifty Intraday update-II), Nifty is at its support zone.
In the Monthly channel(PreMarket View), Supports @ 4720-35 for this month.
S3 S2 S1 P R1 R2 R3
4692 4734 4762 4871 4910 4980 5019
I speculate there is a strong support from 4774-4762..
@ eevra :
Aah.. today is Vishy's 9th match.. Lets wish him ATB !!
Nifty ji looks to hv said tata-bbye bye 4815 ;-)
Is something bigger comming ? ?
Dear Sujatha,
Watching the same.. :) @ present it’s just 4823.70 :) would like it, if Nifty will cross it and go towards…4830-45-60…for Better trading opportunity for the day…
@ PT
Monthly support is comii........ng.
not sure even that would hold
@Manish
:)
Sir,
Price moving below the middle channel line in hourly , if it comes to bottom channel line it would be 4720-35?
Good Afternoon Ilango sir and JN Family
USD-INR - > 55.9975 ?!!
@Hitendra Ji
What target expected ?
can bn-f break 9000 ?
Dear Ilango,
This Hr.close would be disappointing from Bulls point of view…Now since morning even the DayKST indictor turned down…which was a little bit hope for Bulls…Nevertheless more 3.30 Hrs. left for Bulls to try further…
New Post Done.
@Mynac
Max what can be expected on downside ? ?
Camarilla Intraday Follow Up:
Trade1 - Scenario 3 - Nifty Spot
L3@4831[BUY]
L4@4802[SELL]
with stop of 20pts.
Till not Triggered either side
after the post May 23, 2012 10:57 AM
haa: bn-f rising ?
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