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...
77 comments:
Nifty got resisted at "5213-18" zone.
Taken the first support @ 5190.
Break of 5190 could take it to 5173.
Below 5160....is weak.
Above 5213-18...is strength.
Prakash-pol - :) ம் ம் என்ன தின்னுச்சோ ரொம்ப ஆட்டம் வராரு வராரு ஆட்டகாரர் வராரு எருது அட்க்கன்னு நினைக்கிறேன்
Prabakar - :):) that's nice ஒரு பிளேட்டு புட்டு தின்னாச்சு
Julius ji -pls. sorry i donno deep meaning. can u post it??? tks
Thank you Sir!!!
Crystal clear nos from Master.
We have to trade accordingly.
During last RBI meet nifty was at same juncture from where it fell...all eyes on subbu :))
thanks DRsir.
NS TF/30min Swing 5097 to 5207.
Retracements : 5165-5152-5139
breaking the swing range may lead
Down : 5068-5030 / Up : 5236-5274.
சுஜாதா அம்மா
ஒரு Plate புட்டு சாப்பிட்டீங்க ok
டென்ஷன்ல plate -ஐ புட்டு சாப்பிட்டுடாதீங்க
@Sujatha,
குறள் 490
கொக்கொக்க கூம்பும் பருவத்து மற்றதன்
குத்தொக்க சீர்த்த இடத்து
விளக்கம்:
காலம் கைகூடும் வரையில் கொக்குபோல் பொறுமையாகக் காத்திருக்கவேண்டும் காலம் வாய்ப்பாகக் கிடைத்ததும் அது குறி தவறாமல் குத்துவது போல் செய்து முடிக்க வேண்டும்
Aggressive traders can initiate short @ 5193 with ISL 5213 rest can open @ bar closed @ 10.30 < 5193
from 5218 to 5189 nifty has completed five waves on 2 min. chart.
J.R.Julius said...
Description:
Achieved by taking the time to wait patiently for the opportunity to get kokkupe regularly refers to it as if you have to punch
courtesy :http://translate.google.com/
SBIN short triggered @ 10.00 whn bar closed below 2018 ISL 2038..
5190 broken
Dear all,
Apologize for not able to update the OI, as the power went down for my street alone.
sorry for the inconvenience caused.
typing from my friend's system...
Gm Ilango sir,
What is the SAR for today ?
Thanks
As of now low-5187.85
@Master DR sir,
Tirukkuṛaḷ (Tamil: திருக்குறள் also known as the Kural), sometimes spelt 'Thirukkural, is a classic of couplets or Kurals (1330 rhyming Tamil couplets) or aphorisms.
Couplet 490
As heron stands with folded wing, so wait in waiting hour; As heron snaps its prey, when fortune smiles, put forth your power
Explanation
At the time when one should use self-control, let him restrain himself like a heron; and, let him like it, strike, when there is a favourable opportunity
Transliteration
Kokkokka Koompum Paruvaththu Matradhan
Kuththokka Seerththa Itaththu
Morning everyone!
Dear Suja: Complete the shloka, else shani bhagwan will get angry :-)
"chaaya mrtanda sambhootam, tam namami shanaisharam"
Trade is along 5DEMA since ysday, if subbu supports , then only Dosas will be served next few sessions ;-)
Dear J.R.Julius
I have a trading plan for today
but very difficult to sit ideal in front of screen
:D
Thrice controlled myself
was about to place orders
against my plan
(trading itch, or greed of missing trading opportunity makes us act against our plan) :D
5218 to 5190 is followed by an "irregular correction".
Irregular correction is bearish. SL for this is 5202. Confirmation on breaking 5188.
The above is intraday based on 2-min chart T/F.
Dr sir...even i m having a trade plan...no trading today..:)..only short if JNSAR hit..exited longs yesterday.
@Master DR sir,
I agree sir almost everyone has this itch.
:D me too searching itch guard...
TRADING Itch extremely bad
bizagra
Why dis Kollavari with long?
Dear Ilango Sir & Blogmates,
OI Table Update at 11:00 AM, VAH : 5210, Pivot : 5197 and VWAP : 5219
Thanks & Regards
"5173" is holding.
Above 5197, strength returns.
Below 5173 only weakness.
thank u all for the translation :)
For Sri Raghavendra Swamy devotees -
Coming 3,4,5 th is Aradhana. May Swamiji bless you all
At what time is the RBI policy announcement? Thx!
great sirrrrrrrrrrrrrrrrrr.
@ Pankaj,
Announcement came even before 11.00AM.
SLR cut is viewed favourable for liquidity.
sorry sir tiping mistake.
11:02 AM - Credit Policy: RBI keeps key rates unchanged, cuts SLR to 23% from 24% earlier, reports ET Now.
Thanks a lot Ilango sir! No tv in the office, so... :)
@ Pankaj,
Live internet tv.
http://hindi.moneycontrol.com/tv/
If SLR cut is favourable for liquidity, why Nifty is not accepting it and move to green area rather than keeping in RED....
Dr sir....apnae to address diya nahie...khud petha kha kha kar krip jod raha hoon...:)
SLR cut is okay for liquidity. but market and industry expect rate cut. keeping the high lending rate has not served stemming inflation. unless centre seriously does some disinvestment etc. and stop social spending, market cannot cheer
Subbu's hands are tied. poor Subbu
@ CDG,
IT is not a CRR cut which would have given a good upmove.
SLR is its poor cousin....it has reduced the down impact of "No interest rate cut"....which means "confusion". Now all eyes would be on the global scene where European and American bank's rate cuts/ policy announcements for further cues.
23 lac buyers and 8 lac sellers in nifty still its going down...............lolz
@ CDG
I look this at favorable for gold more ( COMMODITY) , if you notice there is small breakout now for gold & silver after consolidation in hrly chart & before that consolidation there was some upside signing some information being reflect before news ,, lets watch TITAN in equity
11:09 AM - Credit Policy: RBI raises FY13 inflation forecast to 7% vs 6.5%, cuts FY13 GDP growth forecast to 6.5% vs 7.3%, reports ET Now.
Thanks Ilango....
sir said
Nifty got resisted at "5213-18" zone.
Taken the first support @ 5190.
Break of 5190 could take it to 5173.
Below 5160....is weak.
it was so clear . sir you are realy great.
Trade update : SBIN short can be booked @ 1967 exact -50 pts fr PSC 2018 TSL CTC
"Confusion" gives way to disappointment and prices heading lower.
@ CDG,
SLR cut is a mild attempt to "FREE THE STUCK LIQUID ASSETS" which as per statutory norms are required to be maintianed by Banks (in cash or Gold or bonds)
CaNNot be really as effective as a CRR or rate cut :-(
Now Global cues, ECB, Fed action will determine the fate of bulls!
SLR cut is a permanent in nature, and will benefit banks in long terms, this also means less money to set a side by banks for investing in Government bonds, so may result in less demand for bonds and higher yields. Indirectly telling the inactive govt to act
RBI action is commendable, and unlike helocopter ben, Subbu is acting sensible ! hats off to him
Thanks Sandeep..
Unfortunately i have very little knowldge on commodity...
Regards
Master JNSAR long where can we initiate rebuy??
Thanking you
this way the Administration is telling the heady politician to act and control the balooning fisc.
shld it be @pivot or @S1
dollar stared to move up again
nifty may face pressure on moving up
@ chetas: well put, excellent words :-)
Subbu is doin the right thing for India !
Dear Ilango,
You have now marked this upmove as "C" (in other words "B" ended at 5033). Now if "C" is a impulse (most probably since "B" marked as corrective) then where can 2 of "C" end for start of 3 of "C".
Regards
@ Atharva,
Since Nifty is trading below all "HEmas" of all T/F, we need to look out for supports @ HLEma-20pts/DEma..5145-55 zone for a rebuy. Dipping below HLEma is fine but not closing below it for 2 hours.
Camarilla - Scenario 3
Nifty Futures
L3 5196[BUY]
L4 5176[SELL]
Ya Shriram!
I am really glad that the RBI is not succumbing to market or political pressure. Already out government finances are in mess, and if RBI also gives way like how FED is doing, then structurally we will become weak.
In 2007-2008 Governor YV reddy did a great JOb. Infact he was aware of American problems and had called a secret meeting with media, to explain to them why he is increasing rates. later he was quoted as sayinh " something big will go down" and you know what happened in 2008
It may not be good for intraday traders, but we also have to trade in future na, Imagine if you are a trader in spain, wher u cannot short, can u long spain?
What RBI is doing now we will get the benefits in future when US will go Greece way or further :))
@ CDG,
The bigger picture is in a state of "fluid"....contracting prices/ multiple scenarios/ TA changing with 50-100 points moves.
Play it light or play by the trend of your chosen T/F giving weightage to one cycle higher T/F.
If you play the day T/F, week is bearish and hence the trade is suspect.
If you play by Hour, Day is "up" but the hour itself is overbought & getting closer to giving a sell...another suspect trade.
These are risky ones.
But when both T/F points in one direction, the trade taken will be rewarding.
BankNifty going down too fast.
Master When Can we will have this precision..It has been one year still forgetting basic of TT..Thanking you
PSC short 1st tgt 5413..once acieved shift TSL to 5193 ..happy trading
oops tgt 5143****
10200 is TL supp of chanell formation in BN 5 day 5 min charts
Bank nifty tested yesterdays bottom...
5150 is 200ma in 5min nifty charts which many times give good intraday supp to falling nifty
range matches with masters range of 5145-55
Trade update : SBIN low till time 1968.....+ taking support @ _level of PSC ..one can book partially at current level
The rise from 5030 appears as a-b-c and completed. The next leg down should have started. todays high almost retraces 61.8% of the previous fall
5218 to 5188 - a 5-wave was followed by
5188-5202-5174-5206- a 3-wave(irregular), followed by
5206 to 5154 - a 5-wave...........completing a zigzag correction.
If 5160 holds henceforth, it would be bullish.
If not, weakness gets pronounced.
"Channel traders" would love to watch the hour price chart at 12.00Noon.
Rohit Srivastava ji
what a pleasant surprise
hi ilango,
Can you please post a link on irregular corrections?
Thanks..
sir what is the confirmation point for zig zag being finished
NS takes support at 50ema 5154 ( currently)
New Post Done.
Goodafternoon master and all JN frieds
Many of you may not be knowing but I have seen Mr.Rohit Srivastava on Just Nifty for the first time.
Welcome sir.
Great to see you here.
This is a party time.
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