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...
66 comments:
@ dinesh,
It should be for 5724 to 5809 initially.
Only when prices drop below "5756 or 5740", we should consider "5696 to 5809".
Once another high is made above 5809, then the retrace should be "5676 to xxxx".
Thanks sir
5DH EMA@5850
5DC EMA@5813
5DL EMA@5784
Master - is it ok to say that the on-going a-b-c could end around:
1) DHiEMA (5850)+20 pts or
2) WEMA (5882) or
3) JNSAR (5881 and decreasing)
Here one can explore positional re-selling trade based on Hourly EMAs in TT?
Retraced 80% of intra rise from 5775 to 5809
@ IndieTech,
Once we know the structure of (a), we could understand a bit about the kind of correction that is unfolding. It limits the possibilities to devise a trading plan for "re-sell".
Yes. Your assumption is in line with the current scenario. Prices, once closes above DLEma, tend to attempt the DEma and then DHEma+20.(and remain closing below DHEma)
"5777" is 38% of "5724-5809" rise.
ilango sir
based on above could attempt a buy around 5764 dlema -20?
shukla ji thanks i made mistake in understanding
open to high fully retraced..that also faster...40 and 30 minutes
Namasthe ilango sir and friends,
Today’s quote received :
Wake up every morning with the thought that something wonderful is about to happen!
Just see the result of that positive thought…..you will be surprised definitely
N ram, Ye sab na karo yahan, is se tumhari do koudi ki ho rahi hai..kisi tarah ki prathistha nahi bar rahi hai. sri i lango ji sabki take care theek se kar rahe hain, unki prashansha karo bajaye apni jhoothi shaan fenkne ke. agar aaj 5600 ke neeche khul jata to tum kop-bhawan me pade hote
Sir
Thanks for ur firm reminder about mt down and st up.
The confusion in indicators is clearly confiming the above.
Could we take it that When there is a pull on both sides of trend it leads to range bound markets and chsnce for whipsaws.
Or should we simply wait for the st to play out.
Or should we go with the larger trend and trade in that tf and ignore the st trend
This is my confusion
Would be grateful if u could shine some light on this
5808 to 5777=31*50%=15=5792 done
3 rd 15 M bar, Nifty FNO Bearish Shooting star Vol 885900
But price are trading > HCLEMA 5753 Look Open
and High of the Day retracements.
Sir, Shriram,
The recent fall from 5792 is result of bear flag in 2min chart?
If not, please suggest what we should look to identify is it a bear/bull flag?
Also bearish engulfing candle in 2 min chart at 5792.
Is it fine look for this kind of pattern in 2 min chart? And what other indicators we can add to validate this pattern?
Good morning Master and Shriram,
Keep the dreams intact. Follow master's guidline.
Intraday might be anything - let's see how your Guru maharaj pleases.
Good luck for the day!
5777 to 5808=31*161.8%=50=5758.........its below R1...and CAM H3
WOW !!!
jai ho
Dear Ilango Sir & Blogmates,
OI Table Update at 11:00AM, Pivot-5761, R1-5807, R2-5839, VWAP-5817
The PE writers are back for the time being with major addition at 5800-5700PE level, with 5793 as the reversal level…
Thanks & Regards
yessssss..this was just typing next post and it is there.....5723 pivot and 5721 CAM L3...
the day is done.....now bye for the day......squered all.....
As if market was waiting to fulfill Shriram's dream..waterfall in last 2-4 minutes !
What a power you have Shriram ji !
excellent , i mean - waht do i say !!!
jai ho ILANGO SIR JI KI
this last post....NF 5685 today?????
OMG.. i just went for a coffee.. bears finished it's full meals :D
Wow. ..it seems 1st time I was correct in identifying pattern. But need confirmation from shriram and Sir
@ Ilango sir,
this faster retracement is also sign of strong bearishness ?
@master,
How to we deal ,do long for c or do sell for v or 3rd iii
nifty could not breach 80% @ 5703
Dear Sir,
Any possibility that current fall is wave B of 4 as wave 2 was zigzag. Thanks is advance for reply.
just a clue...NF....5803 to 5761.9...in 5 minutes..volume...9,13,550.....and...5770.30 to 5738.25 in 5 minutes...volume.....9,67,850........think over it....
ZZ gets retraed more than 81% proved.
@ N Ram
are u Dog ? your behaviour is like dog.
kutte ki punch 12 saal tak bhi nali me rakho rahegi tedhi ki tedhi... Fir vo thahra kutta ..kantna aur bhokna to uski fitrat hai....
if you are not dog then from now onwards you name should not display here and if you are dog then fine .
Namaste Ilango Sir & JN Family
After 9961 BNF, i am seeing next BNF point 8881 in Month TimeFrame. Will BNF reach there are reverse in between or from here? Only time can answer :)
@ Ilango,
Do we see 4th completed and vth is on its way down for 1 of C ?
"Do not interact with intruders."
"Do not interact with intruders."
Since the move from 5676 to 5809 is of 3 wave structure, prices are likely to trade in "5675-5810" as a flat if it is a 2nd wave.
If (iv)th is completed @ 5809, prices would break below 5676 towards 5651, MLEma.
Bear markets are real Fun!!!
I am taking rest for rest of d day.. such a volatile markets are not my cup of tea :)
correction.
next BNF point 9881, then 9840 based on previous support and resistance
BNF 9881.50 was the low on 03/09/2012...
What a roller coaster !!!
Ilango Sir,
Can we assume (b) finished and (c) started?
Thanks
ns at 5736
55ema in 2 min charts at 5743
will nifty face res again near this level???????
nifty at 5743 now
@ RS,
"b" waves are deceptive & complex and they don't end in a 5 wave fall; hence, it is likely, it will continue in a sideways range as suggested above.
Sir, what price will negate iv wave possibility? If it crosses 61.8% of fall from 5809 to 5677?
@ Ilango Sir,
Thanks....got it
Wow !
Its like RBI Days when from 11 'o clock such volatile moves happen. What is happening today?
Flats are really tricky and unnerving!
as Master said - Deceptive and complex.
Master - Nifty make a double bottom around 5675 (y'day and today). Is this notable significance?
@Ilango Sir,
5618 is possible in any means, It looks triangle support.
Dear Sir,
The fall from days top shows abcxabc on 1 minute frame seems its 3 wave. May be too early to decide. Need you inputs. Thanks in advance for reply.
GM sir and blog mates,
is there any problem with NSEL and brokerage, becoz i have cash at religare...i see there is some commotion..... anybody knows the detail plz clariify.....
thanks
index date time O H L C
NIFTY,20130731,09:37,5681.90,5685.30,5678.80,5685.
NIFTY,20130801,11:29,5690.35,5690.35,5677.15,5687.15
5678 TO 5808 = 328 minutes.......
5808 TO 5677 = 100 minutes.....
Yesterday VAL (NF) was 5721, one time support is always given at (val-20)..today it worked well :) till now low is 5701 in NF...till now made a high of 5795
Dear saz,
its nothing but a news to create panic.
http://economictimes.indiatimes.com/markets/stocks/market-news/national-spot-exchange-suspends-trading-amid-fears-of-default/articleshow/21517910.cms
@ Prabhanshu,
A move below "5676" would validate (iv) being completed @ 5809.
And a move past "5809" would confirm 2nd wave continuing.
Sir,
IV still running or V truncated at double bottom.
Your views pl.
Thks
Now trading above VWAP
New Post Done.
@ Master
A contracting triangle being formed ?
"C" to give breakout above 5810
5800 and 5700 put writers more active till now as compared to 5800 call writers
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