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...
95 comments:
Dear Mynacji,
आप श्रद्धा और सबुरी रखो
regads!
Kumar sir - don't want panic selling... sirf "selling is enough" :(
thoda help karo na 4805 ke liye..phir??? really scary about 4980 :P
Indus - that's very good SL
PT - will send u mail later about my "blah blah" views :D
mynacccccccc - noooooooooo 4920 plssssssssss
Good morning all! with blinders placed on both the eyes, I do not see any weakness. But bears are preparing guided
missiles, I smell. Cautious now, but prefered long..
@Sujatha
First weakness only a close below HHEMA...till then,
"bear" the pain:)LOL
Dear PT,
Move from 4804 to 4932 has given good cushion,for Bulls
for any fall up to 4905.
And Bulls unlikely to vest this
opportunity...@present though Hrly.tech.table is heated,
it has not that much strength to push Nifty below 4900,
is feeling here...nevertheless..
still there are 3.5 days left for expiry..means it wont
be too easy for Bulls either..Bulls have upper hand
@ present is present picture...Now Bears shall have to
look @ Day Tech Table.. for their cunning wish..
I want 5025 today, wishful thinking.
@DKG,
Aamin..............
@sujatha
i think as US markets are closed, it will set for a doji day...a guesswork as you know...
1. CMP trading consistenly > 34EMA, 30mins
2. 5-10DEMA will give BULL x-over on close > 4971
3. Last chance for bears is the bearish ABC corrective lable
a 4789.6 4955.6 166
b 4955.6 4805 -150.6 -0.907228916
c 4805 4971 166 1
outer limit for C of a Flat =1.04xA = 4977
Price > 4977 , wud be FIRST SIGNAL of invalidation of ABC flat count
& re-labling 4789-4967 ** up as an IMPULSE
Lets c @ 13:00pm
cheers
10 more points.......pls
@sujatha
as hourly trend remains up(daily is down for me), but i am shorting here in my zone
4970-80 SL 4990-95....
1. CMP trading consistenly > 34EMA, 30mins..
Dear Shriram,
Since morning it is even almost constantly above 34- 2mint.
sujatha madam and PT,
Good afternoon
yes, mynac.. but i use higher T/f 30mins frame to get better co-relation of trend with 5DEMA
@ 2mins T/f, one is never sure of the degree of the Impulse :-(
@sujatha
a case for me...
http://imageshack.us/photo/my-images/210/abcnifty.png/
@PT
Watch the oil minister's statements!!!!
@ Shradha Saburi,
Thank you for your reply. Sorry for the delay.
Had to go out for some urgent work.
bears start smelling honey.caution bulls
@Indus
Raise diesel Price please
Anil said...
@sujatha
as hourly trend remains up(daily is down for me), but i am shorting here in my zone
4970-80 SL 4990-95....
@ Anil,
How Sl Colud be 4990-95.....?? Means if 4990 came then 4995, if 4995 came then 5000 and so on
Dear Sujatha!
Its not others fault, its ours. JNSAR gave reversal near 4895 & ILango sir gave caution at 4850 even then we are searching reason every hour to fall Nifty. Short term trend reversed to up but we are not accepting it, 70 points clearly missed by those who respect JNSAR but trade only then when JNSAR supporting their view only. I dont trade on basis of JNSAR but i salute JNSAR bcoz it keeps away all if & buts:)
Sujatha,
Now i m also sold @4957 with NS sl @4977-88.
Now pray to god to get nifty down,Jay mataji
Never forget Master's good sentence.
Sell near resistance in down trande and
buy near support in uptrend.
Ab bhugto.
@DKG
whats wrong in it.... if anyone shorted in region
4970-75 ideal SL should be 4990-95 zone...keeping
20 points for it...
Indus - mm coincidentally with Month LEMA
Anil - yeah..US closed is advantage for OS daily + weekly hammer. watching BN brother 550 below is OK for sliding Now BN is leading the "fall and up" very much near to breakdown areabut "price is still like rock" big break of 57 is "thunder thud"
rising wedge in intraday ticks today, negative div in hourly, but not expecting any big move
Waiting for 4933 again
@Prithvi
Welcome to the "bear cartel" LOLOL
ns taking supp of 21ema and moving up since morning
at 21ema now(in 5min charts)
Indus,
For welcome ,
kuchh Mitha ho jaye.
Take a piece and bite of dairy milk for our frienship.
But also sharing with sujatha n PT
guys, y rush ?
wait till 13:00hrs, check if price is > 5HrHEMA or goes below..
we also have 34EMA moving up to 4912... look to see if that supports
For bulls check if we trade > 4977
these will give hi-probability trades, just relax & allow time to reveal Nifty's hand !!
:-))
Camarilla Intraday Follow Up:
Trade1: H4 BUY@4946 closed.
(As per my alert 1 could have booked 15pts/Breakeven).
Parminder - hi ga:)
GRP-ji - so diplomatic statement??? dracula possible or not
DKG - read sir's post of 24th.. he has already given picture hence shorted "sell on rise" read onceagain i reposted to PT
Kumar sir - no didn't miss it sir -but shorted @ 4933 on friday..but not much diff. but also covered @ cost again loaded the pistol at high :)
Dynamics changing in 4900 puts ???
@ sujatha Di : i am nocturnal by nature so... lollzzz :P ;) waise yu plz answer my query dat i asked, i wanna see the Ce & PE contracts fo rthe month of JUNE ? i didnt got that in Nse site :( :( help na !!!
@PT/Sujatha
first sign of weakness if 1 pm close below 4951
@Prithvi ji
am obliged
@Sujatha
U already started firing?????????????LOL
@Prithvi
Thanks....prefer beer though!!!!
Master,
here so many teddy bears scaring baby calfs...
need your view please :D
@sanz
http://www.nseindia.com/live_market/dynaContent/live_watch/option_chain/optionKeys.jsp?segmentLink=17&instrument=OPTIDX&symbol=NIFTY&date=28JUN2012
4950is 55ema,may not fall below it easily
Intraday Reversal?
Breaking 4953 in spot Confirmation of
Intraday Reversal. let's See....
Indus - A "small" group of "bears" r here - captain is PT :) nd thanks for the information.
Anil - see the 57..aaaaaaaaa mei iske saath gusssaaaaaa if not breakes then worry again for upmove :(
i think today is the "upmove grinding day" it's celebrating?? tomrow is big "thunder day" looks like
Camarilla Intraday Follow Up:
Trade2: Awaiting for Price Action Confirmation.
Now@Scenario 4.
ILLANGO SIR,
a=c done at 4971 , so can we say 4th wave correction done at this level and trend continues?
BEAR CAMP WANTS @4950 AND ALSO SOME COURAGE.
SAR PLEASE HELP US
bulls strong only above days high.
Watch SPOT@4953 closely, Below that
BEARS may take the driving seat!
again gap up today, will the gap hold or will it
fill the gaps 4544, 4637, 4743 and today's.
@Sujatha
Me no leader now u are the Jhansi ki Rani in bear
form :D
@ Traveller,
If you reread pre-market's view, we suggested +ve action in the opening session.
What follows is mostly "guess work".
No one knows for sure which is top & bottom but most act as per their perception. Some get it right and some don't and this mixture of actions make the market challenging.
The most conservative way to deal with our trades is to raise the SL and move with the markets.
The most aggressive style is to challenge resistances and supports but trade both ways.
All the relevant numbers you need to focus on are in the TT & Premarket's.
how to use you chart sir, I am new bee
USD reversing now
WOW ITS 4950 DONE @13.045.
INDUS ENJOY......................NOW BEAR TURN
Anil - pls. delete ur post..v r particularly exchanging to particular people so no confusion or worry and i am purely trading on "Sir's views" too -reposting here
However, if Nifty does not fall below 4805, then it could face resistances around either 4955-75 or 4990-5040 zone from where another round of supply is
likely, supported by OI data.May 24, 2012 9:46 AM
+ personal risk is our's whether against the trend or being with the trend SL is always there.
still hv a view that 57 will not hold @ EOD wishful thinking close should around 4920 then all is well for us only :) (this view is of mine)
Anil - i mean it 12.57 PM the last post
PT - lolz :) :) DR-ji is busy counting USD or INR???
Thanks Master.
@Mr.Deven,
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most of indices at 55ema support in 5 min charts
bounce can be expected
shriram ji saluting your calculations with confidence.
bears taken command
PT/mynac - check mail
PT - give century today balance 2morow enough expiry bonus :)
sir is there any way to get target once negative divergence is confirmed by price
@Sujatha
Fire your pistol harder for a close below 4900!!!!
wish to see a bounce towards 4988ns
choti si aasha
NOW if Break 4957 in SPOT
Possible to touch 4980.
*Based on Expanding Pattern
@ indus
dsnt seem any such indications to give a close near around 4900
@ shivanGupta,
There are no targets for -ve div.
However, it is generally observed that prices retrace to the point from where the divergences started to develop. This is a guideline and not a rule.
If the -ve div is at the start of a major reversal, following the above guideline, one may miss out on a major decline. Hence, it is important to understand the "context" of such divergences.
@Sujatha
ameen :)
Bears now 'Bhagambhag'
sanz - not even 900?? see my downstairs -
4942/36/32/4889 below this 4855/54 intra view i am getting down slowly and steadily??
@ 4944, Nifty is resting on the rising channel from 4805 to 4971.
@Sujatha
U enjoy beer????....have one on me:):)
4931 seems to be a good Support.Re-Buy Opportunity
with small SL.
@Ilango
IN need of your karmic effect!!!!....please
it is important to understand the "context" of such divergences.
sir could you please tell what do you want to say i didn't get it.
so below 4940 up channel will be broken and fast fall
expected????????
Indus - :) :) karmic effect 4944.. grinder started tilting "atta"??
@sujatha
was out for lunch..deleted...
nitin kadam - 4931 breakes "kam katham" ??? that's very crucial no. check live chart for more clue
@Ilango
NS 4952 is the daily pivot. is repeated attempt to stay above it is a sign of short term bullishness.
@ Sujatha Di :
but JNSAR theory dsnt support you here :( :P be cautious Di...
@Sujatha
Leaving the NS in your capable hands.....please deliver
4931 ,wohi to nahi tut raha sujathaji
back after heavy sapaad :-)
Nifty still in no trade zone
Bulls > 4977
Bears < 4922
T/f --> 30min candles
cheers
@Prithvi
All good things in life are worth waiting for!!!!LOL
Indus - how diferent people here see -
Nitin - observing 4931 as +ve i am with -ve mood there
again CDG - observing day pvt and thinking +ve but i am thinking that's neckline of hourly and pointing downwards I am always "ulta" view?? donno mkt will give reward this time or slap dishyummm
Indus - if i move frm my system to kitchen mkt will come down?? thinking of doing that
Nifty cooker is not good :(
@Sujatha Ma'm: Looks like today is a no trade day or just a broker's day. OOM options decaying & nothing else.
I feel 4918 & 4960 is the break down or break up point.
I however feel nifty downside tgt is capped but unsure of the upside tgt after 5050.
I also feel in case greece gets out of EU mkts may already have discounted it. I had posted this question earlier also .. any idea about historical expiry for June series. It has always been "sell in may & go away" ... so what about in june?
@ Sujatha mam -
but your "Ulata view" Works well :)
Best Luck !:)
New Post Done.
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