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...
55 comments:
Reposting:
Namaste Ilango sir and all,
Sir please clarify:
1. The current downmove is the 4th subwave of 3rd which can be 38.2%, 50% or 61.8% of the 3rd wave-5594-5928 -so supports at 5801, 5761 and 5721 respctively. and another swiftupmove is pending for the 5thsubwave.
2 Only after the last possible support i.e at 61.8% is broken it can be considered that the 3rd has ended at 5928 and the corrective 4th has started which would be more prolonged?
@ Sateesh
http://www.tradingfives.com/articles/elliott-wave-guide.htm
Ilango ji,
Time wise, how can we calculate when does this Wave4 ends ?
@ satheesh,
5800PE is the highest PE series while 600CE is the highest in CE series with 5900CE having more OI over 5900PE suggesting a corrective scenario between 5900 & 5800.
Hence suggested a lower range of 5771 to 5801(Month Pivot & 38 to 50% retrace).
The current correction is part of the 3rd wave as per our EOD post's macd chart.
Subsequent correction would reveal which chart's label is correct -
-the macd chart
or
-Stochastic chart (of EOD post)
@Sateesh
Usually 38.2-50% of wave 3..when wave 3 is extended it may end at 23.6%...
Good afternoon to Dear Master & all : Till PSC 5825 is not broken trend is not down is my simple understanding..
A likely January top would fit the structure, provided technicals would start to show divergences in week T/F.
@ illangoji,
cont. 3 hour closing below 34 hsma it will lead to below dlema or wema?
Afternoon Everybody
fractals indicating a good green day tommorow
may expect a lower low today which will form 5 of a developing bullish WW pattern
pt6 will be near 5890ns
though i am expecting a higher high abv 5928 tomm but thats just my guess
Sir ILango ji kindly update on my query thnx
@mynac
afternoon dear
"tokri" me se kuch nikalo!!!
ns at 5868 at res of 55ema in 5 min charts
may drift down now is my guess for lower lows
Mynac bhau,
Good Afternoon.
Apna aaj ka pitara kholo jaldi se.
@ MASTER
Is it Right way to look Conservative trade for short in the range of 5880 - 5889 Range with 20 points SL. I asked as higher TA still in buy only resone after some hr divergance Higher low 5854 break in morning , or sell on high is call for hrly time frame only not for a DAY time frame till EOD confirmation ..
Thanks Sir.
Thanks Prabha gopalakrishna
Dear anm,
"tokri" me se kuch agar nikalna hi hai to SP aur BSP ko hi nikalna padega...
cause we are aware of the root and nature of our politics & politicians.How much trusted they are,every Indian knows..
Eying 2014 election,these moves are going on... it shall not be surprise if tomorrow it will be passed in RJ too....nevertheless these FDI people must meet Mr.Ratan Tata regarding his Nano dream.. @ WB
@ Master
"A likely Jan.-13 top would fit the structure provided technicals would start to show divergences in week t/f".
Would Monthly T/f technicals show divergence first or week T/f?
@Mynac
what we witnessed yesterday was a cheap politics by cheap politicians, now imagine what these hopeless peoples have aspirations of becoming a prime minister...Really people of UP have must be ashamed of their two mainstream parties SP and BSP...they can go to any extent in these cheap politics...
Dear Ilango Sir & Blogmates,
OI Table Update at 1:00PM, VAH:5952, POC-5944, VAL-5936, WVAH:5907, Pivot:5942, S3:5895, VWAP:5895
CE writers having upper hand for the day and now 6000CE has just crossed 90 lacs in OI, could be huge resistance from hereon…
Thanks & Regards
Dear DZIRE,
vaise bhi ganneme se kafi had tak juice nikal chuka hai..
Following are the Google values for 34 D ..i.e. RSI (14,1D)73.58,SSTO (35,3,1D)%K 94.81,%D 95.48 and NF total O.I. @ hardly 2 CR...means lot of room left there(20 to 30%) for addition,and Nifty trading below DHEMA...
Good afternoon mynac sir.nifty opinin pls.
Parimalji:
Hope you have seen my mail.
Regards
BB
On 51% FDI in multibrand retail, India is divided into two clubs-
a) Elite class which is in favour of the Bill, since it will generate capital inflow and boost business,
b) No-elite class which fears that smart foreign brands will hijack Indian traditional business by tactful maneuvering and mischievous manipulation of prices.
both have some valid points to mull on.
If tomorrow Higher House of the Parliament does not approve of this much-talked-about Bill, market will be in limbo.
My Dear BB
i am extremely sorry, i have not seen your mail. please kindly send it again.
regards
@Mynac ji: GA, premium reducing,,, please check mail.
Yes Mynac,
My experience says any OI above 2-2.5 crores is danger sign for bulls & moving higher becomes quite difficult from that level.
Today fight will be for closing nifty above 5DEMA but closing below DHEMA & -VE crossover of 50 & 200EMA on 5 mins T/F suggests bulls momentum is getting over.
For global cues, DOW is not moving higher even with good Daily Technicals hinting towards an upmove "Timewise" & not "Pricewise".
Dear srinivasan k,
I am very small player to comment...but shall not surprise if in the latter session Bulls shall try to go towards DHEMA..Whether they will succeed in it or not ?,time will tell us..let us see...
Dear Ilango Sir, can this labelling be right...Wave 3 completed at 5899.15 and ABC correction of 4 started from there "A" done at 5854.60, Irregular "B" at today's high of 5926.30, 1of "C" done at 5838.90,2nd of "c" retraced at 5868.40 and 3rd of "c" ongoing.
Let it be in "limbo" so that atleast "Jumbo bear" will come out???
Parimal
You may find this article interesting.. some unbiased views
http://www.firstpost.com/business/will-wal-mart-do-the-job-we-dont-want-to-do-ourselves-545858.html
@Ilango Sir, considering a scenario in which Day and 4h is in downtrend and 1 hour chart is in uptrend....how can one approach the market(not the market as of now!)........this helps me make my strategy..........please tell in terms of buy on dips/sell on rise minus the indicators(have never been able to use them effectively).....tx.in advance
Sujatha.. thats mumbo jumbo ( just kidding..take it easy )
Paimalji:
Sent your rediffmail again.
Regards
BB
Thanks Kranti for the link
i have gone through number of such articles. rather than doing business, brands like Walmart has created havoc in countries such as Brazil, Indonesia etc. and now these countries are trying to put these companies out. this is one side of the story.
the other side of the story is that Indian traditional business is too clumsy. it faces severe dearth of minimum standard of business norms so much so that their name itself evokes some kind of nagging feeling in common man's mind.
from 5927 a=5839 point= 88, b=5868 point =29 now c=a so it is 5868-88=5780, it is near JNSAR Number.
It is my guess.
parimal
It has always two sides..
to me the whole arguement against FDI is misplaced..FDI is just a form funding..not a form buisness
Any industry has to go thru Organised sector changes and globalization.
I worked in Multinational BPOs for 8 years and i saw how the jobs of western countries were taken away by us.. At the time no one was complaining
this is how businesses evolve anmd we cant be against it
FDI will do exactly the same what CocaCola did when they came back to India.
They first sold at very cheap price and almost killed the local drinks and from there they are keep on selling at more higher and higher price.
1 Litre Milk= 30/-
1/2 Litre Pepsi = 30/-
After FDI
1/2 Litre Milk =xxx/-
Unless there is no patriotism we are not going to go anywhere
@Ilango sir, you may be busy as of now...kindly spare some time for my aforementioned query later if possible.tx.
Parimal
Just to add , i have completely shifted to buying everything from Organized supermarkets and i am happy with quality , shopping experiences , hygiene and more importantly 20 to 25% cut in expenses
I have also seen what walmarts do in US and all and its good for the country as long as Government doesnt allow them to manipulate procurement policies and investments in back end infra etc
@Crorepathi: Lets not miss the voting this time and lets vote only for Kejriwal.
pnb is fighting around 200 days ma ... break of 820 will bring script out of long term down trending channel ...
Crorepati..With due respect to your views patriotism has nothing to do with the way businesses are run..whether in india or globally.. do you feel Reliance and companies like that are in business due to patriotism? look at the track record of Reliance alone.. Business are run on based demand -supply and costs .. Otherwise we will not be trading here in all these stocks..
look at maldives GMR project.. It doesnt make sense right?
5700 put dec.series max.pain @31...cmp 23 around...that means nifty can fall by another 40 odd points from CMP of 5890 nf
Kranti,
please read the following, Bad Walmart either you can dismiss as conspiracy theory or you can read between lines and understand the bg picture which started 300-400 years ago.
once nf touch, 5895 intraday it will reach 5915 v fast
G.Afty JN family,
-> Ilango ji, if seeing as simple ZZ, "b" can end somewhere near DhIEMA (5885-88) ??
Dear Kranti
just consider this: some months ago Obama administration criticised Dr. Manmohan Sing to be poorly scoring on 'reforms' (read- serving USA business interest). so our PM sprung into action. conclusion is: if these powers can keep our PM as hostage, when permitted to do business, they can do anything.
another fact is quite bitter: UPA govt. created more jobs in China than in India.
@mynac bhau,
aaj Shreeashta stock.
song- Dagabaj re
Lower circuit
Thanks for the article Crorepati
the point i was making was different ..not on these lines.. I will read the article.. seems to be lenghthy one
Dear Kranti, Parimal, Crorephati: If our parliament is controlled by USA, China, and big guys like Ambanis, then its really a cuase of concern for middle class,poor class, andpatriotic people like you alike. This has been exposed by Kejriwal in his book. We musy vote and vote for Kejriwal in the coming election or we have lost it for ever.
Ref.to today post: 11.40
Interstating observations:5M.candles FNO.
Last tailed bearish,1st low of the day 9.39 AM
made H-L 5898-5971 (27 points).5M candle of 11.04 made new low 11.04 bullish hammer vol347000.Running candles c/o & making Hourly Bar Reversal.Previously all 5 M candles inside last bearsih tailed candle !
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