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...
74 comments:
4814 50 monthly sma nifty spot,, 4822 nifty future
this week,, if can close above this data this week,today,
a good bounce we can expect...
what the other guy's thinking about this.
Raj.
sorry typo err...
4826 nifty future 200 sma weekly.
Raj.
@ Randhir,
A move past 4860 could confirm progress of (4).
Sub-dividing waves suggest to keep selling..on every rises of 69 to 86 points till now.
PT - this hour 22/30/44 is enough i think= by the way Is this week end "sale" for a "buy" or "complete monthly sale"??? lolz who knows ur 46++ also ont he way??
Satheesh - take care.. all the best for her bright future
Shriram - :) :) me toooooo weakkkkk in that :P my D is fine so fast grasping hence bach gaya
on every rises of 69 to 86 points till now. - May God bless these points today please
5 up move wave running from google 2 min chart ?
@sujatha
Friday sellers will dominate today to cover at lower levels
and monday with some intervention by govt good bounce
पण श्रीराम,सरड्याची धाव निदान आजच्या पुरती तरी फक्त कुंपणा पर्यंतच राहणार.. बेड्कीने फुगायचा किती हि प्रयत्न केला तरी आजच्या top च्या वर राहिलेल्या दिवसा साठी sustain करणे हे सोपे नाही.. :) कारण त्या नंतरचा stop डायरेक्ट ४८७० चा असेल... अंतर फारच लांब आहे...पण मार्केट आहे... वाट्टेल ते होऊ शकत नाही का?
banknifty hourly macd moving upwards while price making new lows strong bounce in making.....any1 with same view
Has anybody noticed today's High volume trade?
it's 4804.35 & 4801 @ 9.15-16 AM.where Nifty just took support when it just came down from 4820..
Sharing observations & opinion may benefit :
Last JNSAR triggered on 2-05-12= 5222
I did traded JNSAR but miss to trade in directin of it.
Since than MKT.made new lows each day by breaking LEMAS
Lower pivots too,huge opportunities except yesterday.
I failed to make application of knowledge.Only good
things was bottom fishing ideas & guess work did not
touch my mind in search of short sell ideas.
Fibo.,5 SMA H.regression,3 H. H-L as S/R break to use
no search only action & faith in direction of JNSAR.
Pharach changla mudda mandala apan , mynac saheb
Mhanun tar min mhanto... sit on sidelines till market "reveals its hand"
Majha mate 4750-4780 are High Probability supports for 3-4 reasons:-
1. 1-Std Dev rules (CMP - Dev 5DLEMA = 60-70 pts is satisfied)
2. Prev Day Candle Real Body Top @ 4780
3. Long term support TL 2252-2559 comes to 4750
4. Wkly support @ 4718
5. EW sub-fracs suggests last possible sub wave DOWN left...
5. Nifty has already fallen more than 300 pts stgt for past 7 sessions
Too many "safety-nets" say one thing --> High probability of bounce exists now
in the zone 4718-4750-4780
Time to wait till EOD and enter in small way (as 5DEMA has still not reversed!)
PT - thank u very much i exited my "intra long" too
Dear Sir,
Thanks for reply
My doubt arises because completion of 9 subwave
indicates a completion of Impulse, question was
which impulse wave i/(3) or (3)
Thanks
SBIN JNSAR triggred
Illango ji,
Again expanded flat in play here ???
a 4796.4 4824 -27.6
b 4824 4789 35 -126.8%
c 4789 4833.6568 -44.6568 161.8%
shud do min 4833 ... ??
@Bhushan,
to take short position or long posituion in SBIN?
Market is giving still enormous oppurtunity to go short
Shriram very valid 5 points and very logical. Sometimes
the unknown factor also chips in :) :) :)
If it is a zigzag corrective upmove, 4834 is a logical stop & reverse point.
Moving above it would be an early sign of bullishness, followed by 4844-61.8%, 4847-DLEma and finally 4860-80% mark.
4846-4850 30mins res zone coming up ahead !!!
PTTTTTTTTTTT - my hourly target done..stop this enough for the day :)
Tks Illango ji,
Am actually lookign for an X-panded Flat c, not a ZZ sir!
urs
@mynac
Thanks for sharing the high vol trades
aaj chi Jhunka Bhakar jhali:-)
@sujatha
Ayega aeyga anewala
options data not indicating any covering in calls
guess may fall again
if calls get covered then sharp upmove
Hi probability short set up in case we close for 1 hlf hr below < 4815
will confirm end of the up-corrective
Traps Traps Bull traps
Time for sapaad , enjoy ur meal !
Camarilla Intraday Update/Follow Up:
Scenario 3 - CMP 4842
L3 4850[BUY]
L4 4830[SELL]
PT - ahahaaaaaaa..i got down early??? :P
nifty gap 4850 filled.
ns at 200ma in 5min charts
shorts can be rewarding here
@sujatha
waiting for 4856 since morning,...lets see how it goes
there...bulls safe only above 4870...whats your way now.
..weak-end for this weekend...???
@sujatha
Just entered in SL 4898
Dear Sir / mynac,
9% OI in Nifty futures.First signal of reversal?
Regards,
Prasad
Nifty 30 Minutes Charts: CLICK HERE
@ Prasad,
Moving past 4834 negated a small bounce.
Moving past 4860 would confirm it.
Holding 4825-30 is essential for this bounce to continue.
@PTji,
ab to chodo nifty ko.
PT /anil - if this hour breakes again @ 4815 will give 80/ 90+++ pnts down??? or else again 4873
yeah me with extra 15 pnts +++
PS : will not worry if BN 183 not taken out specially below 5116
4785 was a good support, reversed from there. Buying came in banks after sbi results.
PT, now I'll be careful in shorting.
@Stockgrp
@Sujatha
Still tow hours left expecting 4742
Pre-market view also suggested:
= = = = = = = = = = =
There is a trending move within a channel as shown in the chart below. Longs, for intraday only, possible whenever Nifty reaches the bottom & shows signs of reversal with a move past previous hour's high. More strength would be possible only when it breaches the middle(red) line to target the upper line.
= = = = = = = = = = =
Nifty reached the hourly channel bottom and moved past 12.00 Hour high of 4819.95.
@sujatha
Imagine UDSINR at 56 on monday when we open our eyes in the Morning
grp-ji - one itching for downmove upto PT's level "dracula" should not go to "greeen" area
PT - give me bonus extra + 20??? please slasp BN 116/9025 game is ON :D
PT - that's good our dear Jiigs has already given (long back)to 60 that time many opposed..it's proving now where is he ??? busy with golden bars?? :)
A attempt by learner of EW...
http://imageshack.us/photo/my-images/651/hourlyew.png/
@sujatha
SBI result gave up move .. Tisco Result Down Move :)
4860 break
@Master: As per your comment "Moving above it would be an early sign of bullishness, followed by 4844-61.8%, 4847-DLEma and finally 4860-80% mark."
The upmove has crossed 80% & as you have mentioned before
this might not be a small bounce. For conditions to turn
positional long or confirmation of reversal (I recollect
you teaching us that weekly close is an indication of the
action for next week as it is trend assertion) what must be today's close?
@Sujatha Ma'm: I am only an ant in front of you experts.
But my few words: During prolonged periods of downmove &
oversold condition, the reversal when happens will be very swift
which might not give an opportunity to exit. Best example is the rise
from Dec lows to Feb highs.
What are you levels for SL for your shorts & levels to go
for long with SL?
@Sujatha
Last portion fully loaded in shorts now
89 pts done for this upmove
@ Prabhat,
These reversals we are discussing is mostly for "intraday" and if closes above DEma-4907, then it would be for a ST positional.
Closing above DLEma would put it again in trading mode - trading mode for sya to day trading and not for carrying overnight.
Major reversal confirmation would continue to be a close above WEma.
Nifty will close around current levels and gap up above the falling resistance line on monday..Facebook listing will prop up US market and thereby other market sentiments..( just a little bit of optimistic outlook )
Read - sya to day trading as "day to day trading".
Short covering has taken nifty abv yest close. Lets
see if bulls take it ahead.
Camarilla Intraday Update/Follow Up:
Trade1: L3 BUY@4850 reached 30+ points
Part Booking can be done here.
Remaining Trailing Stops.
DR's overnight long (Panga trade)- he weathered it out by staying "absent" for the 1st half.
Kranti Facebook cannot change sentiment :):)
It is just a passing event.
Weakness could return @ Day pivot-4881.
How much weak - Keep the retracement handy.
If climbs above 4890-34 hr sma, that would be strength.
Prabhat - u r right..the below is my "morning view" usually easily i will not take back my "intra view" but today did so missed the rally :P y i take back my view "becoz i arrived lower figure" at that time..my short is @ higher level so i can exit without profit :( :(
OMG pls. protect BN 9025 nd give me 116/183/230++ (enough??) and show the path to balance 2
May 18, 2012 12:03 PM
SPOT 4915 is my SL ..
back
Illango ji,
Trading above > 34EMA now, how to infer this ??
Corrective to which wave 5120-4789 sir ?
@ Illango Sir..
Please check exam paper EW practical.
W1 4789-4805
W2 4805 - 4807 with irregular flat & truncated c.
W3 4807- 4858
W4 4858-4840 sharp
W5 4840 - continuing...
Wave 3 not being shortest, rule of alternation applied.
Please correct or confirm.
Thank you
@ilango Sir and Everyone - Am I the only one seeing a morning star pattern being formed(if the closing is near 4900)...? Please respond..
hi Ilango,
Now i really need some clarification from you
According to my logic if we close above DEMA i should
close shorts and my logic says take positional long for overnite
But as weekly basis we are down ..monthly basis we are
down..
So a above strategy is it justified or not.???
Please reply i am comming close to making my own strategy
and i need to get clarified on this.
Folks,
I have very little knowledge however following JNSAR day in and day out is what has made money consistently. JNSAR is still on the short side, and as per a positional trader, its not yet time to close the shorts... not yet, not yet.
Wishful thinking [nothing to do with any technical tools including our sacred JNSAR], lets get a double bottom at 4532 :D
New Post Done
Prabhat - Not sustaining here BN is good for PT the ball may "fastly" go to his Palace :)
@Ilango Sir,
Looks Like Now DR sir has booked so comming down .
@sujatha
Ameen
some shorts covered now more will be covered or more
will be added ????
nifty retracing 20points and moving up 40 points
there it goes after a trapping by move above yesterday close
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