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...
87 comments:
INR: Day's Range: 58.625 - 58.901...so finally are we going to see INR 60.000 very soon ???
Julius - here comes hehe sir can't close the door now :D
S4 - check once again 3 high volume breakout candles frm 11.25 to 11.35 is it possible to break and give 5770 again?? just a doubt
QUOTE BY SIR - "Success in stock market comes to those who consistently follow their plans."
and success also comes from = pressing often contrl+alt+delete+ buttons to "read overly or study overly about the market" go with any very few methods..or else dont use ur brain much "LIKE ME" hehe:D
singania - convey my regds to asin too :)
5800 200DMA is significant for both bulls as well as bears
sir,where is this island reversal gone.
Suja Sis - cycle gap le lorry otturathu :P convey my regds to asin too :)
38% retracement done at 5810... hope it wont cross this level again... :-)
@ rajan,
Island reversal above 5730, moved upto 5863.
The correction is holding well above "5773-5772-50%-61.8%" zone so far.
If fails to move higher now, and breaks below 5752 & 5730, it fails.
There are failures in patterns too. Nevertheless, it assisted in some amount of gains.
@rajan
Island reversal tgt 5862,and it was achieved yesterday
38% retracement done at 5810... now go and break of 5777 pls.
dear sir thanks for your kind reply.regards.
@Sujatha,
Good Afternoon. Welcome.
என்ன ஒரு திறமை!
guru - cycle gap-la "naanga oru boeing 707" oottuvomilla hehe ok rupee touches 60 means "r u gng to celebrate sashtiyapthapoorthi" for nifty hehe lolz.(lollu thana varthu..yenna seyya yedhukudhan class pakkame varadhilla) pona poguthu cycle gapla vandhirukken - just give one volume breakout @ 5815/23 nifty future
Island reversal gone to "andhaman nicobar" :D
Namaste Ilango sir and all,
Sir my few cents:
As far as my observation goes, JNSAR whipsaws only during 4th wave. The current one being a 4th wave - managing Day JNSAR with TA parameters is a must. For Eg.,yesterday J10SAr was 5848 and not even a single hour closed above 5848 - yesterday's high was 5863 - during the last hour and 100 DMA was 5877. The importance of 5870 was made clear by Sir earlier as it is the end of the i wave which should not be surpassed by the ivth wave. Last hour saw a rapid fall upto 5800 - which proved that 5860-70 being a huge resistance.
Today again there is a possibility of JNSAR being trigerred at above 5811 - if it is the c of the ivth wave. again there would be confusion of whipsaw.
As far as my understanding goes I would sell near 5870 levels unless it closes above at EOD. and book out near 5770-5800 support level.
Currently I am short from 5850 levels partially booked at 5790 and still holding shorts.
Goodafternoon master and all friends,
"c" to come as per you."C" wave is always have characteristic of an impulse...
which is not visible as of now...
Please clarify.
Sir ILango ji yesterday sent you a mail , when time permits kindly check thnx
@ Manish,
From 5778 to 5810, it has done a clear 5 waves. It must hold "5790" for further upsides & impulsiveness to continue.
If moves past "5811-14", more strength to it & waves are sub-dividing.
I think this is a critical time. May be vth started yesterday OR may be the fall was correction and a new upmove will start.
now < 5790 ns again make nifty weak.
> 5830 ns there would be strength.
Ilango Ji,
Can we say that a 3 is done from todays low in 2 minutes chart?
Thanks,
Renju.S
@ Renju S,
Yes. It could also be counted as "3" from the lows.
Ilango Ji,
When we spot 3 and 5 waves in a given time frame..which wave needs to be given importance?
Thanks,
Renju.S
Ilango Sir,
i want to post my comments
about the market..
Pls approve my id..
Regards,
kemps.
thanks master....
A small bearish flag in 5min NF charts - breakdown below 5790 NF
@ Renju S,
Just playing the "3rd wave" is the most rewarding with small risk as the 2nd wave often retraces a lot except during a strong trend during which it could either be a running or a small flat correction.
But in smaller T/F, it is quite a challenging task unless you are well experienced.
Sir
if ns could not sustain abv 5813-20ns then in 30min nifty charts a bearish crossover nay take place b/w 21ema and 55ema.i.e 21ema line may cross below 55ema line soon
cmp are 5811 and 5808 respectively
when last time such crossover took place nifty fell more than 400 points
will it repeat again??
tonite being fed policy meet..........t
@ Renju S,
If there is going to be a 3rd wave, the 1st being 5778 to 5810, then "JNSAR" is well placed @ 5811 to take advantage of the gains.
If it was part of a corrective bounce, JNSAR has protected the shorts.
"5811" is playing out its importance.
@ STOCK4SURE,
Last week's close was below "WLEma"; if Nifty is kept below this week's LEma, such a possibility becomes a reality.
Renju
if 3rd has started, JNSAR may not whipsaw? am i correct?
Ilango Ji,
You hit the nail on its head...need to bow before the knowledge and exp..5811 that was my next question after the 3 and 5 wave question.
Thanks,
Renju.S
STOCK4SURE Ji,
Great finding. Week trend will help it more.
Hope Mr.Ben acknowledges our findings.
Thanks,
Renju.S
Parimal Ji,
Yes, chances are less. Have not tested it..
As you just heard / saw what Ilango ji wrote "Just playing the "3rd wave" is the most rewarding".
Thanks,
Renju.S
Dear Ilango Sir & Blogmates,
OI Table Update at 1:00PM, Pivot-5827, S1-5786, R1-5853, ATP-5794, VWAP-5794
Equally distributed writing till now with major concentration at 5900CE and 5700PE with 5800 working as a Pivot, range bound movement seems more appropriate right now…
Thanks & Regards
And if it is 3rd of (iii) it may hurt very hard
If market close's below 5800 / 5770 EOD, STOCK4SURE ji chances of your finding coming true is on a high probable note.
Thanks,
Renju.S
Jnsar Said short,Overbought In hourly, and also 3(iii) down we are in playing than why worry about short???
Renjua
21ema and 55em on 30mnts chart is already in place
blind trust in the system is the foremost requirement. though i am short but should have added shorts near JNSAR. dint do that and lost oppurtunity
1.00PM TT & Chart Updated.
5790 breaks down...for further downside...Rose mary ji...chances of your wish 5777 is good.
Thanks,
Renju.S
Elliott wave shows so many possibilities regarding wave count. So i have kept 5957 as the stoploss for shorts to protect from whipsaws.
@ kemps ,
Is that all your contribution....
To take a dig at EW....!!!
a small +WW developing
pt5 may form near 5783-86 range(or already formed)
may move up towards 5804 near 2,00pm
Try to contribute constructively.
Don't attempt to "undress" anyone.
Sateesh,
What is invalidation for bearish flag triggered below 5790 NF?
Kemps Ji,
How can we justify 5957 as a SL for a position taken at 5811?
If we do that we are against our Money management and Risk Management principle.
I guess if we have couple of trade that are not favorable to us with these type of SL...we may be soon out of the market.
Thanks,
Renju.S
@Parimal Ji,
Yes, you are right..21 and 55 EMA are in place.
But the foundation will be more extra solid if we can have a EOD closing below 5800/5770.
Thanks,
Renju.S
@MASTER,
In a hourly which indicator and parameter are good for trade??
Means RSI ?, Stoch? MACD ?
Hello Seniors,
5600 PE has added 10,94,350 open interest today since morning.
How we can read it?
PLease guide.
Thanks
@ rosemary,
above 5815 NF
Sir
Intraday
irregular triangle ending at 5785
Hns left shoulder top 5808
So
------<5785> NO TRADE<5808>++++++
Sir
i am confused, there are 2 cotradictory indications: a) 3rd wave possibility, b) JNSAR short?
@S4S,
Pls give your view of ww on IDEA day chart.
@ Renju S
i took short posion at 5900 when weekly system gave short signal.
I closed half of the position with profit at 5700 level. Now i am holding half with stop 5957.
This is the 6th june nifty candle.
Jay Mataji ji,
When mixing oscillators RSI with trend indicators MACD or ADX, I always remember John Murphy :)
"A rising ADX line favors moving averages; a falling ADX favors oscillators."
Use the indicators in conjunction to arrive at a safe entry / exit point. Just like we use SAR, EW and Fibbi.
Thanks,
Renju.S
@ Ilango Sir,
i find it very difficult to label the waves as per elliott theory. That is why i follow your jnsar weekly system and daily candlesticks for entry and exit.
@ Parimal,
There is a 3rd wave possibility on the upside if "5810" breaks;
and
There is a 3rd wave(iiird of (v)) possibility on the downside if "5778" breaks;
With the NF remaining consistently below NS, isn't this is clear case of shorts being built up in the system? Also FIIs are consistent nett sellers in the cash markets since last few sessions. Think over this.
Kemps ji,
My mistake / apologies. I thought about today's trade rather than the weekly one which you mentioned.
Thanks,
Renju.S
Thanks Dear Sir for the kind response,
so these two levels will also subsequently decide the fate of 200DMA.
bn if > 11821, has the probability
of touching 11850/60
@Parimal Ji,
Nifty is now like "Cat on a Wall" waiting for Mr.Ben to shoo away...It depends on the impact of shooing away ... will it jump on to the next floor or fall to the ground floor.
Thanks,
Renju.S
So either way when nifty decides....it will be in platform number 3.
Tata steel bulls - very furious.
renju - ben uncle will shoo away @ night only before tht mkt close :) i am in first floor let me try to catch the cat with "catwalk" ofcourse thro my balcony...tight range bounddddddddd mkt watch crude it also in the same place
Ben uncle - whichever way he sways - JNSAR and TA parameters are there to guide and protect :)
Kiran - To my eyes I am able to see some -ve divergence in play...
Sujatha Ji,
:)
Catch it, but who will bell the cat?
Thanks,
Renju.S
BM,
Is there any way to see Hourly chart?
I see only 2,5,30, daily and weekly on google.
Thanks,
Renju.S
satheesh - ofcourse.. who's following all these here @ JN..:D hope nobody
renju - me only hehe
bye
Aggressive L3[BUY]@5797 from 9.35am still not reached
STOPLOSS price@5777 or PARTBOOKING Price@5817!
What a Day?
@ Renju S,
We observed the 5778 to 5810 as 1st wave having 5 sub-waves;
It corrected to 61.8% @ 5790 & a bit more.
To play the 3rd wave, the low-risk-high reward is "to enter @ 61.8% retrace in the 2nd wave" & follow it up.
next 45 min trade look imp for bulls and beers fight for bull.
@Julius, Part booking number should come now hopefully :) or stop loss ?? :) yenna kodumai saravanan!!
open high same for 2pm NS candle, so far at 5806.25
@ Julius sir,
This is called trade avoid day.
:)
Ilango Ji,
Thanks for the wonderful lesson.
Thanks,
Renju.S
bn mow likely to fall to 11760 if < 11815
@ajay choudhary,
Apologies for delayed response.
Nifty crossed day JNSAR 5803 today mroning around 11:35 AM,But they way trade is happening today, I like to be away from Market. Lets see how it ends today. Zig Zag day where I like to see volumes adding up in one direction. I did not see that today.
G.Afty Master & JN Family,
NS flirting with WkLoEMA / Dev.DEMA
OTM PE OI have shown highest intra addition , though highest abs. OI is @ 6000CE
Both options open per EW:
Bulls will live > 5865 NS
Bears will enjoy < 5770 NS (prev swing low on Hr)
Have a gr8 day !
New Post Done.
Did i hear a CLAP sound?
Thanks,
Renju.S
@anandha..jnsar for today is 5811 and 5803 for tomorrow..
@Julius---Vandhuduthuu :D
Everytime I read any comment from Ilango sir, I go back to those days when I was 5 to 8 yrs old, where our teachers took atmost care while they teach us with intention of creating interest in learning. The patience and care taken by master resembles the way I was tought in my childhood and becoming good day by day in learning and analyzing the stocks.
@ Shriram, S4S,MarketMan,
Still many mebers are not able to understand the patterns you people poste here. It will be helpful to everyone if you can post the charts forming + WW or -WW so that every one will be looking at possible formations and moves.
Thanks everyone.
@ Sarvesh,
You are right. I just over looked. Thanks for correcting me.
@Guru,
:) Yes.................. Finally........
Nifty - Good Boy
@Anandha,
You mean the volumes in the options?
S.Karthikeyan
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