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...
76 comments:
Open & Low same @ 4922.65 for this hour candle.
sir does today closing above 4918 give any indication that nifty is going to break 4950-60 barrier
@ suresh,
WHEma & WLEma needs to be updated as highs & lows are changing but the weekly close happens only on the last day's EOD. Hence, the correct close ema will be known only on the last day.
too bad god... tooooooooo bad.. r u trying 43/50??? or 17/12/ 02?? spot r gng to give sudden pain for bulls?? NF not good at all give me down side pls or else will tell mam
@ shivanGupta,
A close above WLEma suggests that the "downward momentum" is weakening. This does not mean no new lows will be made but it suggests that a short term low is in place or very closeby.
We keep a filter of 20 points below the developing LEma to know that another impulsive move down has started. If the LEma-20 filter is held, a trading range is likely to develop or reversal emerges.
Switch on the tube light please :)
now nifty future OI is decrease with each rise.
short covering started at week end??
OI experts? any comments? thanks
back -->
all eyes on 4960-4993 .... DR bhai will rock wid 1 hlaf hr close > above these levels !
Nahi hua to phir : PT will dance to glory ;-)
Add "Bollinger band-10 period" to the intra chart of "Google finance", you get very good supports and resistances emerging.
Useful to "partbook", "re-enter" & "hold".
sir does we keep 20 point filter for weekly ema's also just like day ema's
also does close above wlema mean that next week is most likely to range bound between wlema and whema just as it is for day t/f
Verdict hour coming, weak heart players may tight their seat belt:)
@ Ilango
It seems that 13-15 hr for break out from the range has expired.
kumar ji,
Pranam Sir,
aur ve log kya karen jinki patloon hi dheelee ho ? ;-)
Dear Shriram Ji Jai shri Ram!
Wo aapki 34 EMA ki sharan me jaaye:)
shriram
http://www.youtube.com/watch?v=65ilZ8esAUs
a very good attempt to quickly re-test the bottom at WLEMA 4918 for strenght and weakness and confirming the trend...
@ CDG,
Yes..Time has expired. These are guidelines and markets have a way of delaying the action too.
Prices are, presently, trending up within the channel, the current support being "4914" and last hour low being "4906", the uptrend is on in the Day T/F.
Nifty came down to test the "WLEma-4918".
todays low is critical point now.
@sujatha
your setup now got ready..!!!!
@ shivanGupta,
Yes. That is the idea.
Having got a strategy, follow the prices and accept them.
kumar ji ,
too close for comfort .. 4894 aur CMP hein 4923 :-)
Thoda upar waal churan khila dijiye sir :-)
DR bhai --> ofc mein youtube blokced hein, kya karein :-(
Thanks Ilango.
Also is there a significance of 4920-4924 range..NS is hovering around this. Dipping and rising but falling again to this level. is it trying to consolidate here. is this some kind of retracement value
sir,
B band in google...5 min or hrly ? plz help.
regards
@ CDG,
If you see the "Hour chart above", Nifty made a high of 4922 after the high of 4955 and fell to 4789.
Though subsequently, it cleared that high to 4956, it then fell to 4805 and finding "4922+ area a "supply zone". Once supplies are absorbed, it could attempt 4955-75 supply zone.
Sir and freinds please correct me if i am wrong nifty spot and nf in the process of forming an inside week as its highs and lows are inside last weeks after a prollonged downmove does it signal end or near to end of correction ?
Thanks again. and seems Nifty just heard your voice and it is just gaining little strenght now.. lets see 4955-75 comes or no. about 7-8 min left before last half hour of interesting play comes in
shriram
carry android
Bulls main target is to close above DHEMA & WLEMA so they are managing closing averages very well. If Nifty hovers in 10-20 range too in next 30 minutes then closing avg will be near 4925 which will be good follow up after morning star pattern:)
@ jayshah,
The previous week's candle is a hammer with a small body.
Current week's candle is also likely to be another hammer.
It is a double hammer. Next week would be crucial.
To qualify for inside week, the previous candle's body should be big.
This time the supplies are very limited as the impulse
downmove is not comming at ressitance Bullish :)
Still i will wait for monday .. as 4933 is becomming
tougher
Kumar Sir
PT dancing on our condition
http://www.arthursclipart.org/justforkids/jungle/baloo%20dance.gif
Master,
Is weekly close price considering at 3.00pm or after that
collepsed price / avg price of today close
also calculate up to 3.30??
@DR Sir,
Ha ha ha .. Aj to Market ne muje nachaya :)
D R Sir!
PT is not name of simple bear, its stronger than CHINA WALL so he is dancing to make us happy but he will give one blow & all bulls will be below his wall:)
sorry master asking for downside ,it coulde also upside
also
Disocunt has vanished so future cover ho gaye kya ?
@kumar sir
Mein to choda baccha hun ... aap logo ke same
bahut chota :)
Dear Prithvi!
Everything linked with final closing price, closing avg running 4925 as of now:)
@PT
let your time has come now...
fresh attempt to pull NS below WLEMA 4918. Hopefully this is the last attempt..
close should be below 4920 below 4908 is well for bears shouldnt abv 36
below 4900 or around here is :d :d :d GUESS - closing is 17/22 or 908??
OMG - r u listening still am holding my positional teddy bring me gap down from uppar to niche NF need cooling na??
sorry - THAT'S NOT MINE..i donno abt STOCK MARKET
it's of SUJATHA's
Good Afternoon Everybody...
And Thanks Dear PT for still holding Nifty in just 30 Pts.
For the day...:)
Ilango said...
Being the last day of the week, only one number matters for both bulls & bears:
Weekly Low Ema @ 4918.
May 25, 2012 1:53 PM
Cracks appearing in the channel support.
@master
what will be support for last half hour channel? thanks
Dear Sujatha/Vickrum!
No use, now closing will be above 4920. Only sudden fall below 4900 may change this avg either it will remain between 4920-25 only:)
@mynac
FRY DAY today :(
Master it looks to be closing around WLEMA.
Dear Sir,
Is their a Ending Diagonal in wave c that started
from 4805 on houry chart ?
Thanks
Last ball thrilling match between bulls and bears
below 4918 or above 4918.
Good goind Dr. kumar with all ur guns intact
CAT on the Wall :(
4922 closing
@Kiran: Boss.... av closing price to be above 4918..
ha ha ha ha ... good for bulls ... looks like correction
is over for this month.. Now curios to know if my prediction
of expiry @5050 will be true or false.
anmpatel,
It is around 4915.
parminder ,
If the prices stays here, the average will pull it up.
Randhir,
I don't see such a pattern.
closing experts any idea above or belove 4918?? thanks.
PHOTO FINISH
@PTji,
why this cat everyday on the wall?
A close above 4925 would maintain "above DHEma".
NF OI decreasing short covering going on.
at EOD OI is add some position with small increase in price
means buying?? Sanjaybhai will tell at evening.
Thank you sir and all.
Ilango sir..closing seems below DHEMA...that qualify for short on rise on monday???
Thanks
Dear Parminder, thanx for ur kind words:)
Closing avg near 4920, cat ran away:)
Have a nice weekend to all of you:)
ear PT,
As it was the first day for Nifty after crossing & staying above JNSAR... it was expected... On the contrary the chances for the big fall was never there today...
Nevertheless Bulls did not try 4950 is surprising...because from Monday onwards ,Hrly data likely to heat up... so fast action is expected from Bulls... The last trade above 4830 would be Bulls wish..
@nilesh ji
May be 4 din maja ayega
hurrye.........in premium now!!
Typo regretted..
@Mynac
Means bulls back for 4 days ???
Closed below DHEMA...so sell on rise...hope so..:)
@ptji,
that is TOM & JERRY.
sir close above daily JNSAR, seems like a bull day tomorrow
Plot 30 mint SMA on 1 mnt chart
you will get closing price in advance :D
Dear PT,
Let us not discuss about the trend....every-time..
Because everyone has his own understanding..
But..this is expiry game, is my assumption..Bulls would like to eat all those 4800 & 4700 PE premiums.. so they would like to hold Nifty above 4900 is very much obvious..Only the worried part there would be Holding above 4930 for the week when Hrly data shall start to react against price..and they will have to roll over their positions here only, by willingly or unwillingly...Expecting last 2 or just last day of expiry some fire work...
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