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...
52 comments:
Nifty has breached the resisting falling trendline from 5893. 12pm table has turned green.
@ rajapvt,
If you had bought it "closer to the support", you trail it till 5874 is breached. (For trailing, you could use DLEma @ 5852 approx)
Now that it has breached, it more or less confirms a reversal.
@Thanks for confirmation. Holding the longs with DLEma, partly booked the profits.
Spring board action
enjoy it if you can
regds
@ GK
It has changed now, OI decrease/increase refers to buying or selling in that option. higher OI generally refers to higher selling in that option.
what i meant to say is although prices are changing but sellers are not short covering.
Thanks
Ilango sir, what could be the possible targets for this reversal. already nifty has respected 5887 (80% of last fall).
Thanks
@ Master,
now nifty is trading above WHEMA.
Further if it fails to clear the resistances of 5893/5891 (0.80% retracement ,weekly pivot & R1)... does it indicate any loss of momentum in this upmove?
@ Sai Bhakt,
I have modified the 80% a bit to "5893" and
if that gets breached, then do for 5925 to 5839 @ "5908".
Then, the last 80% would be 5965 to 5835 @ "5940".
All these while "5839" is protected.
In case, 5839 is breached, 5825-28 or 5807 should offer supports.
As per Pre-Mkt, bulls must attempt to protect "WHEma-5871" on closing basis, if not, at the least "DLEma-5852".
Camarilla - Nifty Spot
Scenario #1
H4@5888 ↑
H3@5870 ↓
Thank you sir, your 5871 number has helped me today intraday.
@ bharathi ,
Till Nifty closes above DHEma again, we'll consider corrective phase continuing.
However, Buying generally emerges in day T/F below DLEma when Weekly technicals are in uptrend which is what has been witnessed on few days recently.
Corrective can best be dealt with by trading "Supports and Resistances" and at critical reversal points by "Part booking & trailing the remaining till a reversal when you can add more".
I have replaced the (i) to (v) labels with (a) to (e) in case nifty falls again.
Part Booked 1/3 @5870, trailing rest to DLEMA.
Out of all the trades, first trade went with ease since close below DHEMA and taken supports, shorts enjoyed, longs enjoying, trailing to DLEMA. Thanks for guidance.
TataMotors: above 200DMA- the long term level, it is ruling strong.
I wish I could understand language Master comment in yellow box , then I could make some money not stopped out
50% retracement from 5841 to 5886 done at 5863.
staying around day pivot.
Congrats Rajvat u bot at support at 5840 & enjoying rest with DLema
NF premium at 38.
S4S sir,
any WW pattern developing?
Thanks
@ Master,
Thanks for the reply.
Yesterdays TT had both WHEMA and DLEMA almost similar@ 5871.
Today WHEMA @ 5871 and DLEMA @ 5852.
Hope the trend assertion in weekly TF will be evident by 2.30 pm.
@Master
Thursday, December 3, 2009
Broadening top explained
WHEN YOU SEE A BROADENING TOP,
THE MARKET WILL EVENTUALLY DROP
you said market will drop ,and today said market may bullish??
Dear Ilango Sir & Blogmates,
OI Table Update at 1:00PM, VAH:5939, POC-5930, VAL-5886, WVAL:5912, Pivot:5894, VWAP:5893
5800PE Level seems sealed for this series with OI now above 94.4 lacs, so a range of 5800-6000 with 5900 as pivot till this expiry, Intraday need to sustain above 5912 for more upside….
Thanks & Regards
Thanks Prakash, just following the trend with the guidance from Master (blog). Also trying to learn the TA with the help of this blog and from Shriram (offline). I sincerely thanks for their guidance.
@Sanjay: Is 6000CE writers happy? looks like they started covering?
dear seniors and freinds of the blog if anyone has dear sirs golden words collection can he mail them to me i would like to save them for posterity many thanks
illango sir/ friends ,
the 2 day pattern, can it be called Rounding bottom or cup and handle ? , also we have DB at 5839
Master
If possible please update the charts @ 1.00 PM
@sanjay jaiswal,sir,
please teach me the meanings of
VAH,POC,VAL,WVAL,and VWAP
THANKS in advance.
ilangoji,
Looks like a Fifer wave done from high from 5885 to 5860.
NF premium 38. Will nifty attempt 5900?
can anyone tell me developing banknifty DHEMA and WHEMA? i am getting problem in downloading banknifty TA. thanks.
@Mr.madamuniramaiah,
Kindly check out JN group posted a ebook for you.
https://groups.google.com/forum/?fromgroups=#!forum/justnifty
@anmpatel,
For BankNifty,
DHEma = 12,419 (As of 1:00 PM)
WHEma = 12,192 (Same as yesterday. we have not made new high for this week today).
@kiran
thanks.
Ilango sir,
Nifty not able to sustain above 5874, does this mean it's weakening?
Thanks
S4S sir,
any WW pattern today sir?
Thanks
@julius
can u post toby crabel book also?
.
and i mentioned in morning abt 123 macd setup active
below 5865
once it starts it will melt down towards 5801-07 for taking support
@@julius sir
thanks
This weeks candle is almost same as last week's candle. Only difference is the colour.
@Mr.Piyush,
pdf search : http://tinyurl.com/broleo4
1-2-3 in which t/f? (skipped!)sorry not read ur post.
NF premium has come down to 33 from avg 36
Nifty did not hold 5874 but holding 5867 for quite sometime.
@Mr.Piyush,
Additional Readings of Toby Crabel's Articles
http://www.trading-naked.com/library/%5BTrading%5D-Stocks-&-Commodities-Toby-Crabel-ORB-articles.pdf
@julius
thanx. in hour tf short as per 123 macd @ 5865 sl 5925
friends
time to awake weekly trend.....
week pura hone ko aaye, last time it was sleeping...god knows this time?
Sir
Did nifty complete a 1st extension 5 in the morning at 5839 and retrace 38 of the 5 till 5886.
if so it should hold 5856 till EOD
New Post Done.
Ilango wrote in his Stock Wealth Blog today:
Friday, December 14, 2012
"BN making another high next week depends on holding 12138(approx)"
If BN to make a new high then how can Nifty stay behind.
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