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...
20 comments:
JNSAR stop loss hit.. should we wait or can initiate fresh short based on tom's JNSAR? please advice..
Camarilla Scenario-2 Sell Reached partbooking number & TSL at breakeven.
@gurukrishnan ...prepare for jnsar whip.now market is in sideways mode.so u need to trade ranges.my opinion is go for jnsar once u suspect linear phase, .plesae learn ....what tool to use in wt scenario.it goes a long way in ur trading career.bye
@master
Is it a BUY on DIP,(dLema-20pts)? pls guide
ns still to fall below 5-ema(5675)
to get a dt
@ Chetas,
Nice observations of volumes.That Bar's H-L-C was 5854 5736 5778
WRB 118 points.Here L & C is tail area of huge bearish bar.Tails
always shows price rejection means supply is absorbed.If tails is broken means supply is more than can be absorbed by buyers.
Tails when broken becomes powerful supply zone by that area
because of unfavored positions above previous sellers.
If bearish bar are smaller High becomes supply zone.
Here entire area of 5775 to 5736 is big resistance(Tail Area).
Dear Ilango Sir & Blogmates,
OI Table Update at 1:00PM, Pivot-5693, S1-5659, R1-5748, ATP-5722, VWAP-5722
Most active Strike is 5600PE and 5900CE, broad range developing for the next few days, intra weakness below 5704 NF…
Thanks & Regards
Read the pre-market view:
You'll find some guidelines to manage the trades during "intraday".
There will be multiple resistances from 5718 onwards;
The "congestion zone" prior to the reversal @ 5635-50 must hold for continuation of this ST reversal.
Good Afternoon master an all blogmates...
Harish,
in NS 19th March 11.00 am open high was same at 5836.55, Low was 5725.15, close 5759.15.
After two days when we reached 5670.6 we rallied to high of 5757.65, so faced resistance in tail of 5725.15 to 5759.15. Today high is below the tail of 5725.15.
In NF as per sharekhan the date of OHLC , I have is 5850.55 5852.4 5736.55 5771 ( slightly different form what you have, may be your is correct )
today I am not trading, just watching charts and observation ,
@Sujatha Sister,
Enjoy your Holiday.
Cheers....
:D
Keep eye on Unitech
Intraday correction is over in NIFTY..
5720.95/5604.85
38.2% retrac lvl is 5676.83.
we seen.
srey O,
logic for correction over is this or any thing else?
pl share.
@ Chetas,
I have taken volumes of FNO, Difference may be due to data suppliers,which is not much important 5/10 points.Observations are important.If you are not trading, you can make better live study which is Imp.For more interesting study draw a 2 horizontal line on these tails.5778-5736 and after that big bullish bar with tails on 21st March 2nd hourly bar.L 5681- C 5761.Draw 2 horizontal, You will find out how tails & volumes becomes support & resistance with logical & powerful.Still after this study,you will find one more bearish bar & volumes with similar patterns.
@Master,
kindly update How the "congestion zone" @5635-50 is derived thnx.
@Hitendra,
From 5630 - 5720 = 90 points
and from 5720 - 5675 = 45 points which is 50 %...
Sir
taking time after last day's fast move should be considered as strength or weakness ?
New Post Done.
SaR Levels (based on D.Pvt+Fib) if 15m.STOC confirms
5598 < 5632 < 5660 > 5688 > 5722
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