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...
46 comments:
Good Morning Sir & All Friends.
This is the 2nd day only after reversal.....not expecting to fail it in such a short term
shree OB zone and weekly negitive should b considered this is my thinking. will u support ur statement through TA it will b a help for me thanks
NS..5723 to 5699 = 24 FALL
NS..5699 to 5716 = 17 RISE
NS..5716 to 5690 = 26 FALL
NS..5690 to 5721 = 31 RISE
Intraday BNF appears to be in no trade zone, until it moves above 10055 & Sustain or moves below 9972 & Sustain.
dear shree thanks
@Master,
NF premium has squeezed from about 40 points to 7 points now since the start of the series.
Is this a fair indication of a short term top nearing and the greater t/f down move asserting?
Intraday nifty futures is looking strong...I hope right to buy NF @ 5725, Target 5765 SL 5670
@ jitendra...
in broader view....
earlier loe 5477 protected......
currency, cad, inflation, IIP...all digested....
Nifty lost almost 600 points from top.....
in last few months fall and rise are generally in 3/4 weeks.....3 weeks completed....so expecting 3 weeks to maintain this journey..though sideways but no to new low......
rise and fall is nearly 75/80 % of earlier journey.....so bounce will be considerable one here.....
now technically....
Tomorrow holiday....so one session for week to complete...
Currently trading above weekly R1.....R2 is 5825.....
Y'day closed above 5EMA as well as DHEMA.....
Major resistance on weekly now 5830 (WHEMA) coincidentally..near R2..
Fibo..from 6100 to 5487..retracement..50% 5790 and 61.8 % 5862....
NOW IMPORTANT IS...5733..WEEKLY 5 EMA....and 5745...which retracement 80% of 5809 to 5487..if it cleared then this leg is higher retracement of fall from 6100.....
DISCLAIMER....I am long....and will buy on dip.......with 20/25 points SL.....
respected llango sir in which t/f it is reliable to observe divergence for intraday thanks
Namasthe ilango sir and friends,
Today's quote received :
Greatness cannot be achieved by doing big things, if you really want to be great. Do small thing in a great way!!!!
@ PRAKI73,
Please do not give "Calls" here.
Share your studies (not calls & recom..), only if you're confident.
@ Jitendra Mishra,
Divergences appear in all T/F. Bigger the T/F, bigger the gains.
There are many examples for it.
Bank stocks had -ve div in Month & week T/F and have fallen by more than 25 to 30% in just 3-4 weeks.
For Intraday, combining Hour & 5 min T/F is good.
Dear Ilango Sir & Blogmates,
OI Table Update at 11:00AM, Pivot-5673, R1-5756, S1-5628, VWAP-5715
The writers are evenly matched at 5700 level, so a range bound trade is on with bias being just positive…
Thanks & Regards
shree thanks for your explanation
shree i m thinking of intra day indicators r OB and nifty almost reached the resistance level and weekly negative i will think of positive senario once it clears 5735.thanks
respected llango sir thanks for reply and enhancing my knowledge thanks for your guidence
GM Master,
11am update plz
@ jitendra.....
ok....small clue.....i think ORB already there...
bull flag (Tiranga) visible in 2 min chart on the occasion of independence day :-)
NS..5723 to 5699 = 24 FALL
NS..5699 to 5716 = 17 RISE
NS..5716 to 5690 = 26 FALL
NS..5690 to 5723 = 33 RISE
NS..5723 to 5711 = 12 FALL
sir good moring... Please include me email id littlewonders21@gmail.com in your google accounts. ..thanxs sir
nf: r @5739/55 and s @ 5669/35
@ ITradeForProfit Daily,
Reasons for the change in premium could be many and would not help us much.
Technically the ST has upward bias and most important signal expected in 11 hours by EOW.
In this backdrop, some cautious approach is needed in this "Cluster resistance zone".
@ jitendra...
I am getting this picture.....
http://prntscr.com/1l5l2k
@ prashant shah,
You're already a member.
Try this link:
Just Nifty Google group
Dear Illango,
Please include me in to JN Google group, I have sent a request few days back.
Thanks
its doneeeeee
http://prntscr.com/1l5n6k
Dear Sir,
I Have sent req. Please add me in ur group.
to all,
please any one can tell me where i can get government 10 year tresury bond yeild live update
thanxs a lot sir
Sir,
I also checked in just nifty group, my email id prakiblr@gmail.com has not been added...
Please add it..
Rgds, Prakash
5736 a=c
@ Ilango,
sir it looks a=c now. Do you see Wave 2 is completed and 3rd of C is going to start which is going to be lengthy and quick? Do you see 5204 levels ?
sir mkt in past 2-3 year every time bounce or bottam when RSI touch the 30 or below 30 mark like 26-27-28 rsi eg on 7 aug mkt close to 5520 that time rsi on EOD base touch to 28 and bounce now 5720 gain 200 point my question is ... is that rite indicator to find out bottom or top with rsi indicator ? i follow 14 e 9 on eod
NS..5723 to 5699 = 24 FALL
NS..5699 to 5716 = 17 RISE
NS..5716 to 5690 = 26 FALL
NS..5690 to 5723 = 33 RISE
NS..5723 to 5711 = 12 FALL
NS..5711 to 5734 = 23 RISE
NS...5734....CAM H3.....
Master,
Usually whenever nifty closes above DHEMA u mention nextday Buy on Dips strategy but today may be I have seen first time SELL on rise ?
As I have been watching this blog last one year
Also Master u have mentioned Death cross of 50DSMA below 200DSMA Is it still valid keep short position/create new short position?
New Post Done.
CAM ..H3...RESULT.......
@ master
Is 5 wave completed for c wave?
with INFLATION effect.......
July WPI 5.75.....
July core inflation....2.4..vs 2 %
July WPI 4 months high.....
fuel...11.30 vs 7.3..
fearfullllllllllll
spotted a bearish WW pattern near 12 noon in 2 min charts
at that time ns was near 5735 and trgt was coming 5705 in 15min
the way ns was moving thought it would be a fake pattern
but patterns dont lie
ns at 5712 may see 5705 soon
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