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...
39 comments:
reposting
dear Sir any target for RIL ... where long term investor can book
Master Good morning
If 5903 breaks is it the completion of 5.1 or 5...
As 1 and 3 are equal can wave 5 be an extended wave.
Thank you in advance
HOUR SUPPORT RESISTANCE CHANNEL 5889-5880-5866-5838-5804
NIFTY CLOSED ABOVE THE WEEK JNSAR HIGH (5810 -5820). NOW NIFTY IS IN BULLISH TREND. NO SHORTS AT ALL UNTIL IT CROSSES WEEK JNSAR HIGH DECISIVELY.
MONTH VOLATILITY IS CONSIDERED THEN NIFTY MAY FACE RESISTANCE AT 5850-5950.
Note:
Nifty again closed just above the hour channel trend lines thus these lines are become support lines. Again making room for the tomorrows opening. If Nifty opens above the close( 5889) then it will continue upward journey. If it opens in between the 5889 -5866 then we have to wait for the call,but if it opens below 5866 then it will have weakness up to the 5800. Below it will start its journey towards developing JNSAR.
Day JNSAR high and week JNSAR high have almost become equal thus it may give strong support to the Nifty.(upward move stability increased).
Posted by Shradha Saburi at 04:32
Namaste Ilango Sir & all members.
@Sam STER is currently in 4c of its weekly charts.
Dear Ilango Sir,
Just one question, want to know your long term view on market is this start of new bull trend or still we are in correction. When this upmove will finish, again we will start new down leg with target of something around previous low of 4500,or its just a myth now.....
@ Prabha Gopalkrishna,
I have given, accordingly, two retracements in the table. Follow them; that should guide you whether 5.1 is done & 5.2 is in progress
or
5.3 in progress.
There are no technical weakness.
@prabha I am not sure of Elliot wave :(
Thank you Master.
@ SAM..Ok go it...
@ abhinav,
I have no opinions. I follow.
There are few possibilities that Nifty will halt around 6000 and start a correction;
OR move higher towards previous highs of 6350 and then correct.
Having opinions is quite dangerous. Traders just can not realise it. It makes you "rigid" in your mind that "a change in direction" is not accepted because of such opinions.
The tendency in the market is to "forecast high levels whenever mkt is impulsing up". When Nifty was going up from 4531 to 5630, such forecasts were made. But Nifty corrected to 4770 by 860 points to resume another uptrend.
Be on the right side of the market to make money.
@ MASTER
There is Negative Divergence in hrly chart from RSI reading , looking at all higher time frame in buy mode , kindly guide what / how do we should look at that ??
@Sandeep bhoite,
Buy in dips
@ sandeep bhoite,
If "Hour TA suggesting weakness with day/ week TA in uptrend", it could either be played for some intraday gains; weakness would be below either 5882-89 or 5871 only.
OR
Leave such trades.
We have suggested to part book @ 5910-30. One could re-enter @ either 21 hrsma or 34 hrsma.(These are rising)
@ sandeep bhoite,
If you are concerned about "intraday swings" and also interested to trade them, the only way to make money, the best way, is to follow:
Supports and Resistances
Read Pre-Mkt's aggressive trading range; they reward you.
@ MASTER
Thanks for your teaching ,, i always follow ur words to learn & that reflect in my account too :) as you always says Get rich slowly :) but for that prepare with deep knowledge & discipline ,, again thanks for teaching us
@parmindarji,
SSA.
@ sandeep bhoite,
Simple study is enough but deep understanding of that simple study alone can give you knowledge.
Knowledge is of no use absolutely....
unless...
You act on them...apply them...make it part of your trading/ investment plan.
No one can do that for you. Only you can, if you're determined.
Are you hungry enough to get rich??
Tata Motors (future) is ruling at 277. it has immediate resistance at 200 DMA (286) which it attempted previously to cross at least four times but in vain.
Dear Ilango Sir & Blogmates,
OI Table Update at 11:00AM, VAH:5922, POC-5912, VAL-5902, WVAH:5907, Pivot:5915, R2:5937, VWAP:5945
A gap-up opening, but nothing much to show in the option table in reference, with PE writers not much active. 6000 Level still looks like strong resistance…
Thanks & Regards
This hour closing below HHEMA
@Ilango Ji > Great post once again! Thanks a Ton!
ns < 5893 fast fall & > 5922 fast rise
candle close basis
@suresh: hourly candle @12?
SBI on a bing again today. as if no holds barred.
Ilango ji,
C.5.3 in last phase, max another 30pts UP ?
Rubber band is getting over stretched ....
If 5.2 done @ 5894 & 5.3 has commenced, then 5897 should not get broken.
If it breaks, either 5.2 is postponed to a little lower level-50% to 61.8% @ 5889-82.,
OR
(v)of 3rd is done @ 5918. In such a case, break of 5871 alone would confirm.
In simple terms,
weakness below 5897 for 5882-89;
More weakness below 5871.
Presently the resistances would be "5906-10";
strength above 5912.
Sare indicator positive ,
Lagta hai bada zatka aane wala hai
long till 5870.20 is broken as that is the high of the 1 or start of the 2 subwave of the current impulsive 5 of the 5 of the 5 starting from 4770.
or it could be read as 1 of the 5 of the 5 of the 3 starting from 5217.
either way it could extend and so it is either long or long on dips or wait for the levels to show reversals
Blogmates:
Is there any site where we can get a list of stocks crossing their 200DMA on a realtime basis or atleast EOD basis?
Any suggestion is welcome. Thanks in advance.
regards
BB
master u really give confidence with ur words great
Thank you master G for timely comments, Yesterday u mentioned that, 2nd set not showing enough strength, so calculated that there will be retracement from opening high, as like I asked in the morning, exit longs at 5917 and shorted and covered at 5895 (Gap filled)now went long from there and trailing at rising HHema.
@ MASTER
Sure Sir ,, acting always on my study & its wonderful journey now & ahead ,, I always keep myself on your feet as a student for that & words are not enough to show that feeling :) as I said you are my Rich Dad .. :)
@bb
http://www.crnindia.com/support/dma1.htm
@ MASTER
Yes... absolutely Sir.. :) Would lIke to stay hungry ,foolish., & learner for a life :) Adopting knowldge from You ( RICH DAd ) to satisfy my hunger :)
tks ilango ji,
by C.5.3 wot i meant was the EXTD wave Up from 5594 , but ultimately 5871 - 5850 hold the keep evidence to determine , as u said :-)
tks
My Dear BB
you may visit TopStockResearch.com
Dear Prabha and Parimal:
Thank you both for the response.
regards
BB
sir,
Is it possible as per EW analysis that nifty may trade for few more days in tight band of 5949-5858 levels with days trading range in 40-50 points only
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