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...
38 comments:
@Ilango
Support at 5937 holding...plus a break out day...above DHEMA.....yet momentum stalled
Would welcome your views...thank you
@sai bhakt
for option
http://www.nseindia.com/live_market/dynaContent/live_watch/option_chain/optionKeys.jsp?symbolCode=-10007&symbol=NIFTY&symbol=NIFTY&instrument=-&date=-&segmentLink=17&symbolCount=2&segmentLink=17
@Prakashbkc,
Why correlate? Treat each instrument according to its own merit.
@rajapvt,
I didn't exactly get the point of your euphoric congratulations. Did I miss something?
Thank you anmpatel sir.
Friends,
NF went up with huge volumes but coming down with very low volume, any inputs pls?
Thanks
Ilango Sir, has the Expanding Triangle turned into an E.D., the wave "d" ending at 5920/25 levels on 60 min Nfty Spot?
friends pls dont bother with my questions i exit intraday long position for now
@Sai Bhakt
dont call me sir pl. only one sir here.
@Fire: Learning from this University and Sharing the knowledge to the other learners. I felt happy about the RSI article that you shared to all. It is enlightening the usage of RSI.
NF premium increasing, back to 40.
ok anmpatel ji
s4s sir, any ww pattern?
thanks
Sriram ji
Hope all is well ...
If an ED from 5839 then ,
Current fall should be lesser than the last fall which was of 62 pts from 5950 to 5888 .
So 5965-62= 5903 , preferably 80% which comes to 5915.After which again a rise of 61.8 %- 80% of last fall from 5965 to xxxx > 5903.
Anything more than 5903 means -ve divergene in hour TF and Day TF has started playing out .
Am I thinking in the right direction ?
@ Shriram,
Your persistent ED Q led to an Hour chart with such a possibility:
a=5839 to 5950
b=5950 to 5888
c=5888 to 5965
d=5965 to .........5917-27
e=xxxx to .........5977..??
The above is a bearish possibility.
The other bullish possibility continues that 3 rd completing and a 4th wave correction continuing.
In both the cases, some downsides possible, the trigger being 5915 & 5890.
Master request for views on Tatamotor...can we rebuy at current levels???
Tks ilango ji , eyes were thirsting for these words. My Q was due to persistently high 6K CE OI :-)
@smita: hi , hru, back ok ,now ?
if ED, then yes, "d" shud fall only 61.8 to 80% of "b" ... rest as Master has explained :-)
Yes Shriram ji , By Gods grace .
Yes Sir has explained it already :)
Got to go Will be back by 1:30 2.
Dear Ilango Sir & Blogmates,
OI Table Update at 1:00PM, VAH:5947, POC-5939, VAL-5931, WPOC:5946, Pivot:5940, VWAP:5982
5900PE writers have added huge 14.8 lacs, but most important part is 6000CE writers have not given any hope to the Bulls to make inroads above the coveted level…
Thanks & Regards
1.00 PM TT & Charts updated.
Nifty is at hours multiple support trend lines
let us see!
regds
nifty trading very similarly as on 7th dec
near 5910 is also supp of T/L joining last 4 days lows
s4s sir,
any WW pattern sir?
thanks
now ns may move up towards 5919-5924 range
ED scenario rejected below 5905.
The only other bullish scenario is "another 4th the wave commencement".
For ED followers:
ED takes a long time to form with less price participation but with more time taken.
The perceived "d" leg was swifter from 5965 and retraced more than 5905(80%).
@Ilango
I am confused....holding above DLEMA and JNSAR
Do positional longs continue?
Thank you Sir.
just short of the JNSAR Short. if not today then perhaps tomorrow. After big moves JNSAR to wipsaw a little (quoting Ilango)
Shardhaji,
JNSAR hit?
@Prakashbkc
Take a long side with JNSar sl 5880-20= 5860.
Also target pending 5977.
Dear prakashbkc
TREND OF NIFTY LEVELS ALL IN SPOT FOR
11 DEC 12
DAY JNSAR HIGH 5926
DAY JNSAR 5869
DAY JNSAR LOW 5812
VOLATILITY STOP LOSS 5820
WEEK JNSAR HIGH 5825 -5835
WEEK JNSAR 5685
WEEK JNSAR LOW 5545 - 5535
NIFTY CLOSE 5908.90 DAY PIVOT 5906
HOUR SUPPORT RESISTACE CHANNEL 5897-5901-5908-5912-5916
NIFTY CLOSED BELOW THE 5926(DAY JNSAR HIGH). HERE NIFTY DID NOT CROSS DAY JNSAR HIGH BUT DAY JNSAR HIGH CROSSED THE THE NIFTY DUE TO THE RISING JNSAR. HOUR RESISTANCE SUPPORT TREND LINES HAVE GOT COMPRESSED INCREASING THE POSSIBILITY OF BREAKOUT.
NIFTY CLOSED BELOW THE DAY JNSAR HIGH SO IT HAS MAX POSSIBILITY TO GO TOWARDS DAY JNSAR (5869). SO NIFTY HAS GOT BEARISH TINGE FOR ST.
TINGE WILL LAST UPTO THE 5926.
SHORTS BELOW 5897 STL> 5926
LONGS ABOVE 5926 STL< 5897
INBETWEEN NO INTRADAY BECAUSE LINES ARE COMPRESSED.
Note:
If gone down always have feelings of that you are stealing lions prey from the lions den when he is feeling sleepy.
upto the 5820. so chupke chupke. and chota chota.
Posted by Shradha Saburi at 05:13
@ Indus,
Ilango said...
Having moved past R2-5938(also 38% retrace of 5888 to 5965) and R3-5955, breaking R2-5938 would be a sign of weakness.
December 11, 2012 10:50 AM
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The above observation was made considering the nature of 5th wave.
If acted on such an observation, there will not be any confusion.
I'm as ignorant as you. I do not know where the market is headed. Whether upmove has ended @ 5965 or whether after a consolidation, another high is likely - - no idea at all.
But I'm confident of certain structures, certain triggers, certain patterns. Once the move ended @ 5965, I promptly put a retracement table. That is a cue for intraday correction.
While we trade these short term moves, we'll keep our eyes on higher T/F triggers for possible larger weakness. Accordingly WHEma @5871 would assume importance in the coming days & especially on Friday.
@Ilango
Thank you very much.....the above is very helpful
dear sir , seniors and freinds if we are using JNSAR EOD and taking trades only between 3 to 330 pm should we consider todays jnsar or tomorows develping jnsar number or both which is best? many thanks to all
New Post Done.
Thanks Master for all ur commitment and inputs to train us for being self independent.
India VIX is up just 0.6%
no sign of any panic yet
can nifty recover all its loss till friday???
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