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...
48 comments:
Beautiful Cup n handles in Hindalco & JK tyre :-)
Why do traders fail?
Most mistake the correction during uptrend as "Downtrend" as well as the correction during downtrend as "uptrend" and they have no guidelines to identify a trend.
We have chosen certain numbers in the TT for such a purpose as "Trend" & "Momentum".
Master & friends,
Good wishes from friends anytime is so precious that time or date doesn't matter.
I bow overwhelmed by all your love & respect. Accept my gratitude.
Special thanks to Master for remembering his undeserving student.
Happy Birthday Prakash. Wish you many happy returns of this day...
Technical analyst sudharsan sukani disclosure:
Long on nifty..
bearish WW developing in nifty and bank nifty intraday charts
time to be cautious with longs
HV trade at 5298 and 5307 during nifty dips.....lets see.
@S4S
murde me jaan aai hai....thoda jine do yaar....!!!
Developing NS Intraday supports - 1min-> 5304 5min-> 5297 15min-> 5280
Revision
http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:ascending_triangle_c
35hr Stoch is comfortably sleeping above 80 mark for the 5th day today. previously it slept abv 80 for 7 days during Jan-Feb 2012. Staying above 80 signifies the strength....
@ Cooldent sir
Thanks for the link
Fire sir ,
Great response with humble.
Hari sir
Tauba tauba
mein tho ek chota bacha hun
Since the breakout @ 5190, Nifty hour lows have always been below 5300.
Current hour low is 5303.30 & if holds, it is a right place to start its next upmove.
Sir - goodnoon
Today opening high is the same or opening low is the same??? tks n advance.
NIFTYSPOT
for the Range 5273(1)-5307(2)-5289(3)
Upside Projections 5316 and 5328.
80% retrace Point is 5280.
Downside Projections 5264 and 5252.
Sujatha ji,
nothing is same today
☺
2nd attempt by Banknifty to go above MHEMA
@Sujatha Sister,
Good Afternoon.
Have a Nice Day.
@ Sujatha ,
Today Open, High, Low are all different.
However, Open & low were quite closer @ 5290.
1.00PM TT & Chart Update done.
till now BN was lagging NIFTY in % gains
now leading
pt 5 of bearish WW in nifty not yet formed..ns may move uptill 5317-23 range near 1.45pm as per symmetry b/w pts 1-3-5
bank nifty has formed pt 5
Good noon Master
thank u sir and all
bye
OOps one more doubt Is monthly RSI and williams % R also high????
@Ilango,
Master the volumes have been unusually very low today (NF:3906900)less than 40 lkhs...while nifty is in a tight range of 20 points. Though trying to inch upwards with low conviction...does it suggest anything?
regards
discipline
@ discipline focus ,
During consolidation stage(Corrections), volumes tend to be low and they reach the lowest just prior to the break-out.
If it breaks down with volume, treat the consolidation as "Distribution".
Study of volumes within the range in more details would reveal whether it is consolidation or distribution.
5303 is supp now
line joining days lows
Can any1 suggest what is the invalidation point for the bearish flag of tatamotors
regards and thanks
Good Afternoon ILango sir & everyone!
Happy Birthday to you dear Prakash, God bless you:)
Dear All!
If Nifty closes below 5300 EOD then caution time, if sustain below 5280 in day time then coat changing time or at least profit booking needed on longs. Till 5300 no threat to bulls:)
How to find the current value of Nifty from the NSE site? The new NSE site appears to be user unfriendly. I am not able to access the old site.
Anyone please.
LV
@ SJkolkata,
An hour close above 34 Hr sma(or 68 half hour sma)@ 239.00 or reversal above 241.20, the last peak.
Trade the stocks outperforming the index & in the direction of the major trend.
Sir according to breakout of ascending traingle target will be almost 100 points?
Ready for big upmoves...
pt 5 formed in intraday ns charts of bearish WW
trgts below 5290
@LV
http://www.nseindia.com/live_market/dynaContent/live_watch/live_index_watch.htm
prev version also working...
http://www.nseindia.com/index.htm
@Ilango,
First you teach the theory ..and then practicals happens in lab (markets) for clarity of concepts......brings me back to science classes in high school. Rather than a sports, arts......trading is turning out to be a quantitative science with you....needless to say some experiments conducted give desired result ...when formulas for analysis, dedication, patience, emotions are applied right by your students...
indebted sir
discipline
Thank you Ilango Sir,
Got your point.
Sudden huge rise in volume
Mynac has bunked today seems
anybody to highlight please
@ Fire,
Many many happy returns of the day.......
Sorry for the belated wishes.....
@ Anil
Thanks a lot.
LV
NF 1min support @ 5327...
@ cooldent ,
Ascending triangle depth=51(5317-5266=51)
Break-out point=5310.
Target=5310+51=5361.(Provided 5304 is held)
Thank you sir
New Post Done.
Why do traders fail?
Most mistake the correction during uptrend as "Downtrend" as well as the correction during downtrend as "uptrend" and they have no guidelines to identify a trend.
We have chosen certain numbers in the TT for such a purpose as "Trend" & "Momentum". sir this mool mantar if every body understands this it is best. good we at jn.
master has made it look simple sir fauji ka salute
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