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...
30 comments:
Namasthe ilango sir and friends,
Today's quote received :
A guy is a boy by birth,
a man by age,
but a gentleman by choice.
Don't look for happiness, create it.
Good Morning Ilango SIr and Blogmates.
Thank you very much
for
Not littering the blog
with "TIPS".
GM sir nd friends :)
SPOT nifty started a new week with higher high/low and higher closing (ofcours slightly) shall we continue today too??? any takers??
Sir - I am still smelling some upside any short term EW upside possible??? tks n advance.
intraday addition in 5900ce and pe nearly same near 3.88 and 3.66 lakhs resp
directionless nifty
yesterday VIX shot up from 15 to 16+.
Ilango Sir and All,
Observations on 21 & 34 D EMA cross overs :
Upmove from 4770 , 21 DEMA crossed 34D EMA on upside on June 21'12.
Since June 21, when ever these 2 averages converged there was always a reversal or in other words primary uptrend "enforced" till top of 6111 in Jan'13.
21 & 34 convergences :
1. Jul 27 - NS 5100
2. Sep 6 - NS 5238
3.Nov 26 - NS 5636
4. Feb 18 - NS 5898.
Currently 21 DEMA @ 5953 and 34 DEMA @ 5952.
A crossover to downside confirms change in primary trend.
Raghavendra
Dear sir and blog mates
if Any body follow Sunpharma plz tell me
any upside is still pending in it thanks in advance
@ Raghavendra,
EMA x-over need not "CONFIRM" trend, if the corrective is SLOW time-wise, it can give a false Breakdown X-over...If this was true, MACD wud work with 100% co-relation
Q: Why does MACD not have 100% corealtion ?
Ans: EMAs have lag wrt trend, x-over of 2 EMAs have even gr8er lag...
Rather it will pay to look @ 34EMA on whicheevr T/f u wish (30mins, 1 hr, Day, Wk) as a STAND ALONE SAR...
EMAs --> Trend follower
RSI / SSTO --> Corrective Highlighter
Using Hi-lo EMAs , (and / or) Supports Res Candles or TLs,
wid RSI / SSTO OB/OS trigger will give the Best Risk-Reward setups ...
possibility of a dip towards 5886 and then an upmove towards 5901ns
cmp 5896
NI3...Sunpharma is Showing Negative DIV on hourly Charts...But still not reflecting in Prices... today it has made Lower high... on hourly charts..
@ Sujatha,
Chart updated for your EW education.(green "ii" possibility)
If one takes a close look at the major stock charts, one will find that strong uptrend has been breached recently. it can be deciphered as a technical correction or even as an early signal of a reversal. which interpretation is correct, only time can tell.
Ilango ji,
If the pref count from 4770 , still a 5wave C or any chages foreseen sir?
@ Sam
sir thanks a lot for prompt reply sir
@ shriram,
Pref. View: A corrective "ABC" for the 6339 to 4531 is completed @ 6112 and the next phase of correction(Big C) has commenced targeting 4400. Within this fall, 1st wave done @ 5854 and a bounce is on.
Alt.View: If 5823 is protected, another attempt at a new high is possible, after which "Big C" to commence targeting 4550-4700.
in 5 min ns charts
a fast fall setup may emerge
sl abv 5912ns
tks ilango ji.
sir - thank u very much. my "nose is problem" always :( ur reply to shriram - ji is - for me - thalayeeeeeeee suthuthu. i am getting ready to be with"good seat belt"
NI3/sam - mm..short only my SL s 803 future
SunPharma: 700 has a strong support. wait with PATIENCE, this level or nearby may come again for long with small SL.
ns still within yesterdays range
gr8 manipulation
Dear Ilango Sir & Blogmates,
OI Table Update at 11:00AM, Pivot-5903, ATP-5901, VWAP-5901
Another round of huge writing going on at 5900-6000CE, 5900PE writers are back, but will they able to hold on till eod…
Thanks & Regards
@ Ilango
Your reply to Shriram helped me a lot to re organize myself properly.
Myriads of thanks.
LV
anybody following Icloud for nifty?
kijunsen giving -ve cross to tenkensen below red cloud, strong sell signal.
sorry, forgot to tell t/f, above condition in 1 hrly chart...
this hour HAopen-low is also same 5896.15, s/o weakness.
New Post Done.
@online commodity,
samazdar ko ishara kafi hai,,,,
SANPOT ne kaha mana nai!!!
here nobody need fish all are great fisherman here,
TCS made higher swing low in hrly chart whith rsi and stoch +ve crossover so lets see if it hold 1427 and will run for tgt of 1435 (MBB) and 1450 (UBB)...
chalo dekte hai tip ki jeet hoti hai ya....self study ki.
Strength only above "5902";
Weakness continues below "5890".
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