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....
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....
63 comments:
5262 is the 50DMA of Nifty Future
@Master,
now 'b' final @5340??
or 'c' is in progress now??
Please suggest me.
BNF forming 123 pattern with positive diversion
but no buy signal yet
above 10100 some strength would be seen
@ Prithvi,
It is a possibility that can not be ignored.
I removed the "Part book @ 5225-5245" in conservative trade and kept only the SL.5385.
And I gave importance to a +ve div in Hour T/f while I observed the weekly reversal possibility.
These are errors caused mainly due to "Giving importance to a lower T?f over higher T/F". A momentary lapse is enough to shake you off your positions.
Sir, awaiting your reply.
@ sir,
with your support only we r learning the higher
t/f value we r happy to learning the same.
@ MASTER
I am very great full to see Last comment higher Time frame ,, As always nothing can skip from MASTER eye ,, great simply great :)
@ SANPOT ,
You need to read all my comments.
Often, readers put forth questions to me from my charts what I have already labelled.
Reminder: Short term labeling has higher chances of negation/ variations.
& now an action removed green possibility from chart :)
@master
is close below WLEMA can we take it as extremly bearish and it will also turn month down in coming week? thanks.
--> back
breach of ysday's low, say possible Expanded FLAT B in play as a ZZ...
B.a 5343 5273 -70
B.b 5273 5303 30 -43%
B.c 5303 5239 -64 91%
If these r valid, we may see a 80-140 pts Bounce up again to 5420-5460
5239 has to hold ideally for these to come true
NIFTY WEEK CHART;
CHANNEL SUPPORT 5239 - TODAY'S LOW:
Click Here
Yes Sir. Thank you.
Goodnoon sir and friends :)
Happy week end. Bye
PS : 5255 will not give up easily. closing may be around 5286/5315????
** sorry for the typo :-)
Read as
< If these r valid, we may see a 80-140 pts Bounce up again to 5"3"20-60
sir weekly t/f is turning down (you said it should be given more importance)but if we look at daily and hourly stochastic they are at lower level 16.5 and 7 respectively which is not giving confidence to short as EW trg could be below 5200..what to do in such a situation
@ anmpatel ,
Closing below WLEma is always scary one for "Bulls".
Luckily we aren't bulls presently. Our Uniform is "RED".
sir ji,
if stock is sell on rise or
buy on dip:
how long should one wait:
please give guidelines.
thanks.
My Dear Sir and friends
could 50DMA (NF 5258) give support?
@master
yes uniform is "RED" but due to expiry i roll over only one lot. if closing below WLEMA can we add short at end time. if yes what will be SL. thanks.
RIL below 34DMA
CAM L 4 worked....reversed with double quantity..booked 20 points.....
Below 5269....https://picasaweb.google.com/102630051257770588753/August312012#5782752837194906066
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Dear anmpatel,
I understand the challenges that were going on in your mind when you rolled over only one lot... instead of the same lot that you took on the previous JNSAR trigger.
The way I look at it is -If your position was taken on the basis of JNSAR, wait for the next JNSAR trade.
I know you might feel being left out, but then there are two aspects to this.
a. If Nifty reverses from here, though you'll still be on profit on your earlier lot [till JNSAR is hit], but your current position may go for a toss.
b. By not taking a position, you are enduring a paper loss of profit which will enforce you to have a little more confidence while rolling over your position.
I hope my comment helps you.
@ shivanGupta ,
We never suggest to "catch a running train".
The old positions should remain.
Sir
Is there a possiblity of QE announcement today which even tony caldaro had expressed in his blog and this could lead to a bounce till 5320-5360 on Monday which Shriram had pointed out as C wave. Especially since the gap has now been closed of 5240-5265.
@master
@buzz
thanks. will remain with one lot.
Stats rule comeing into play
DLoEMA-Days lo = 5281-5239 = 52 pt is within 1std Dev .. so can sday wid 68% confidence that Day's low is formed
Spot trading > wkLoEMA , hinting @ possible bounce via expanded C , maybe ?
can anybody has the expected average closing price Please???
Thanks
@ anmpatel,
I clearly suggested to one of our readers to take advantage of the "Huge premium" and roll over shorts yesterday.
cdg at present it is 5255
Ilango said...
@ Stockathon,
Ideal would have been to "square it off" at our Pre-market's supports @ 5255-65 and sell in Sept. series on the bounce.
Nevertheless, you could roll over with the advantage of a 30 point premium in Sept. series.
That is a mechanical trading.
August 30, 2012 2:42 PM
failure to bounce from WkLoEMA is forcing one look @ alternatives...
Alt - 1:
We may have finished a ABC @ 5448 & now this is a Impulse DOWN of ONE DEGREE HIGHER (may be part of a Higher IM Degree ABC DOWN tgting sub 5K) !!
Alt -2:
Impulse from 5448 is still playing out @ a lower degree
Unable to call it for now :-(
Thanks Ajay Vijan. At present I am in RED uniform and expecting it to close a little lower still to be more comfortable... Last 10 minutes of the August...lets see...
Closing price likely to be above 50Dma and also WLEMA
@Shriram,
I really appreciate your studies effort and knowldege. But sometimes when you post too many labels contradicting yourself one after the other in a span of 30-45 minutes it distract me to consider too many things..... Please don't take any offence... Regards
maninder
closing as of now 5256
Doing it with LITTLE KNOWLEDGE.....as to much knowledge is dangerous!!!
Dear CDG,
yes, saw it after posting... Ilango ji has told me once previously, to avoid posting too many labels, it confuses...
thanks for the reminder, will curb !
Can anybody confirm the closing av. as of now. Tks
@ Anshuman ,
If we are following the trend via the colours of the TT, it says to "Stay short"-those that were created at higher levels or today, if done near 5300.
Yes...the possibility of a bounce could not be ruled out.5255 to 5243 was 88 points and a similar rise is possible which could at best come upto 5239+88=5327. Old positions can weather such a bounce.
An aggressive player could go long with a SL of day channel @ 5210.(That is a huge 40-50 points which I generally avoid)
Highest vol trade of 40 lacs at 3.05 p.m. at 5256. Monday will confirm the significance
@NK,
closing average as on now at 5257, almost matching Wlema
thanks sir and all dear freinds happy weekend to all
closing avg 5258 now
Dear Ilango sir,
Since the last few weeks or so FIIs had been pumping in some good amount of money into the Indian equity market, we however had been having a negative closing. Isn't this a bit unusual and with yesterday's huge buy we still didn't have the kind of closing that we'd have expected.
What is your inference of such a situation?
I know this week has been a tiring so please take your time.
Thanks as usual and once again for all the goodwill that you've been spreading.
The simple camarilla short created @ 5290 has given 50+ points.
Think zara hatke...
Going off to a vacation on this weekend with so much of pleasure in heart.
JNSAR has made life simple.
Thank you sir and all dear blog-mates.
thanx chetas
llango sir, is it close wkly jnsar if yes means more bearish ?
And that is just one trade....no multiples..
Have a nice weekend to all JN blog mates.
@master
i read it and book profit in last lost of august series and roll over to sept series.
i did not gather HIMMAT to sell 3 lot in sept series. i need some more...hope will gather slowly slowly under your kind guidance. thanks. i will remain short in one lot and wait for resell oppertunity near resistance/jnsar. once again thanks.
yessur, CAM has worked well, even simple 5DEMA followers wud hv made money !
sometimes, its better not to over-think it, & end up stuck with NO trade , like me ,
Something i hope to learn, under u :-)
happy weekend everyone , good health & cheer to all, bye !!
Thank you sir. Would stay with trend till reversal comes
llango sir and my blogmates
thanku very much and have a wonderful weekend !
Very simple strategy Pre market view--Conservative trades maintain stop loss of 5385 EOD. No headache, no tension, no frustration.
Thank you Ilango Sir for all your efforts and pain.
Wish you a happy weekend and to all J.N. members.
Bye.
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I dont know sir how to thank you but i only know
that no one, no one can give something with out any
cost or reason in this world but you are doing it realy you are great. once again thank you,thak you and thak you for making rich slowly and steadly.
hats off to you. Dil se sir....
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