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:
@ Hitendra,
1st upmove was from 5823 to 5939=116 points.
If 5881 is held, the next upmove should target
5881+116=5997.
Before considering the above, keep an eye on the ST moves to validate such an upmove.
If FII's buying everday of this month should have any effect, it must be here & now...
@Ilango Sir, FII are buying in the cash markets only while they are selling in the Derivative Segment.
Thanks Ilango Sir. Also noticed that 80% of today's range (5937.6 and 5881.45) is 5926.37 from bottom 5881.45. So above 5926.37 it's trend reversal for people who went short.
Thanks Sir
Sir according to NSE data on last 2 days.
Ilango Sir, Thanks for the explanation. So if we are in 3rd wave of 5, we will close above day high ema which is at 5922 now.
If FII's buying everday of this month should have any effect, it must be here & now...
Thanks Sir,
It will reflect, when Day TA will be UP.
and If it is then it has to....
we have dono unganlee ghee me
Jai JNSAR
regds
wow,
Also indicated Mid-point revesal power
@ master
3 of 5 can only confirm above 5939. isnt it?
thanks.
@Ilango: 582x is the level for fourth right? Why 5881 is considered for the upmove. Please throw some light on this.
S4S,
One clarification. Can the small channel formed in Bank Nifty spot - since yeaterday with coordinates -
1 -12455
2-12538
3-12385
4- 12485
conform to a Bearish WW?
@ anmpatel,
Yes.
@ rajapvt,
We are discussing each segment of upmove.
If 5881 is the completed retracement for 5823 to 5939, the next "segment" of upmove may have commenced from "5881".
@Ilango: Thanks. I was disconnected somehow.
sir
is it possible that ns may dip again towards 5900ns levels and then may move up again for 5930+ levels intraday
and 5977-5997 may be coming tommorow
@Stock4sure
ayega bhai ayega......main to bas 5939 kudaneka intzaar kar raha hun...
@ STOCK4SURE ,
"5905" is alright as a minor retrace. Below it, it would mean more weakness.
Sateeshji
its not a perfect WW pattern as T/L joining pt 1 and 3 and line joining pt 2 and 4 are diverging
instead BN is showing a WW developing which has coordinates as
1.12450 on 17th open
2.12200 lows made on 18th
3.12570 highs on 19th
4.12380 todays low
5..........probably abv 12750
6..................may be near 12350-300
ns cmp 5907
at convergence of 34.55ema and 200ma in 5 min charts
may bounce strongly from here
Hey S4S ... U r champ dude :) thanks keep guiding on WW patterns :)
Jai ho Ilango Sir, Nifty moving above 5 day high ema at 5922.
ns increase but nf not,
mera premium kha gaye gore log
today if closes near days high than can expect a gapup tomm for break abv 5965ns
am i right or am i right??
@master
in five min chart 3 or 3 started from the low of 5888. is it? thanks.
All relevant PEs and CEs both in the -ve
Thanks S4S. So, is it that a WW could be either a channel or two converging lines and never two diverging lines?
done intraday at 5926
but holding some longs
bye!
ns at res of 5925-28 range
T/L joing H/H 5905 and 5920
Master... Fast Rise on Hourly Charts!!??
Tatasteel has completed a perfect five from 387 - 433.65 - todays high.
Everyday after 3.00 pm they make us fool......
Sateeshji
channel also dont give good results
best are converging
@ Harsh Mehta ,
Prices are not yet closing above HHEma.
So Nifty may try for gap up for new high, if it will be the ST trend changing day
closing not favouring bulls
at crossroads
tomm again in first few hours will eat prem of options and then some big moves
can we expect 80-90 pts intraday move
STOCK4SURE..
80-90 points move??????? which way..
Ha ...ha.. see the closing value 10 point up in last wave, can we see 100 point tomorrow means NF 6012, great, my trailing stop hit at 5936, bought again at 5926, the closing value of NF is 5933(Instant profit)
s4s, I think the opening will be on or above 5945
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