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:
And Goldbees has peek-a-booed > 2950 :-)
GM sir nd friends :)
Oops.. mera wish fulfilled :0
sandy - it's too early to buy now is my feeling!!.but yes..one "counter trend rally" pending and distribution also pending..then a fall again is my "as usual useless view". v can "postpone" our positional buy or sell upto "expiry" till the time let us enjoy ride both the sides :)
gaurav - yenti babu oorika post chesthra meru point catch chestharu??? smart!!??? :P
Sir ILango ji charan vandan and everyone good morning
@Shriram,
How much Tgt for Goldbees
Sujatha now Nifty may be baught for 5360 SL for Min target for 5550 by expiry.
Shriram/Seniors,
How do we monitor changes in OI in options in live market?Any link pl?
Sujtha as Ilango has already expressed his reservation about this downmove i.e about the impulsive nature of the downmove, which is also my feeling.
@Prithvi,
Holding 5DEMA EOD basis, tgts are 3050/3100 & All time Highs too, if TREND BLESSES ...
@Prasad:
Check here
http://www.nseindia.com/live_market/dynaContent/live_watch/option_chain/optionKeys.jsp?symbolCode=-10007&symbol=NIFTY&symbol=NIFTY&instrument=-&date=-&segmentLink=17&symbolCount=2&segmentLink=17
Namaste Ilango Sir & JN Family
Sujtha since Ilango had already clarified about the
ED, so this retracement has happened.
Chances is very less Target in upside zone only downside target as prospect ......
Reason : 1)Dollar will heavy effect our market this expiry ........
2)CAD problems will another effect ......
3)US bond purchase data tapering this year later so huge effect this three conditions .....
Sujatha, Nifty future is weak below 5389 and sell below 5360 for 5340 target. Market breadth is weak in your favour today (756/381)
can anyone suggest to me from where i can get historical nifty expiry closing rates for last 10 years please i will be highly obliged. , unable to get it from nse website many thanks
@ prasad you can also try this for nifty option open interest nifty option open interest
right now highest OI of 8,203,400 shares placed at 5600 call strike while on the put side 8,061,950 shares OI for 5300 Put strike according 10:35 am position.
@jay shah
most probably, u got to work it out yourself,
by finding out EOD closing of nifty on every last thursday of a month.
earlier, i also went on to make same study about nifty close on each expiry, and i had to do it manual only
OM SAI RAM
P.S. - i can help u out to find out the closing of nifty spot on last thursday of every month for last 10 years, provided that u r ready to look out the last thursday date on each earlier month.
Big supports are very near 5333 (Nifty Future) & 5350 (Nifty Spot), JNSAR -100 = 5350 for today.
respected sreeram sir can we c 5149 as target of wave3 if wave 1=wave3 which is the least expected and wave1=663pts.what all resistace we should keep in mind till the target not acheived.
Dear Ilango Sir & Blogmates,
OI Table Update at 11:00AM, Pivot-5479, S2-5394, S3-5310, VWAP-5389
Huge addition at 5400CE within the first 2 hrs, a move above 5440 looks improbable for the day, the last bit of hope for the Bulls is 5300 level with OI still above 80 lacs…
Thanks & Regards
SHRI RAM SIR
NOW WHAT SL OF GB
11.00AM TT & Chart updated.
@ Dharmu: many options, pl follow lables on Master's chart .. for now RED (ii)may be done
@ Murali : 5DEMA for GB, EOD
61% retrace is heer
Sir,
Missed JNSAR train this time.. good thing is i didnt carried any position yesterday.. seeing price closing around JNSAR level itself.
But as per rule, nifty avg closing price is above yesterday JNSAR level, i am surprise that you carried shorts but.. am i missing some thing? please reply if you have time..
SIR SOME PERSON THINK THAT JNSAR IS ON LONG @5473 & THEY KEEP 5450 AS STOP LOSS. THEY POSTED THIS IN BLOG ALSO.
Y U NOT GUIDE THEM TO GO SHORT @5473
Sir,
Whether 4th over in BN & 5th started ?
@rose mary :
Master has already replied to this in the morning, on previous post :
Link here :
http://tradeinniftyonly.blogspot.com/2013/08/nifty-pre-market-view_27.html?showComment=1377576394960#c8147692816334435319
Thanks Anand!
Oops, now i got to know what sir meant by saying
"Sine it is the reversal of OB Hour, don't keep filter.
August 26, 2013 at 1:12 PM"
jai ho ilango sir
so early losses of 140+ points on nifty, that too after breaching sir's important level of 5355 on the downside, THAT TOO so early in the morning, INDICATES something VERY VERY FISHY
be VERY VERY CAREFUL, while going for a long at ANY LEVEL.
Keep strict strict SL of earlier nifty spot low
YEST. FOOD SECURITY BILL got passed by LS, which is being never never ever liked by markets.
TO express its concerns for passing out the food security bill , MARKETMAN CAN DO ANYTHING
THODE KAHE MEI JYADA SAMAJHNA
SAMAJHDAR KO ISHARA KAAFI HAI
the EARLY MORNING LOSS of 150+ points HINTS something very very very important.
OM SAI RAM
One more good place to buy Nifty with 5290 SL for 5400
ilango sir,
on a shorter time frame is it 1st of 3rd large or 3rd , yesterdays move from 5430-5370 being 1st? how to calculate? or should we leave it on market price to ascertain?
and can it be B(flat) of 2nd also?or that also market will ascertain if breaks 5254 or not?
@Sandy,
Up to 5000 you say buy entry and make loss
As master said for BN,
If it clear 9840 than assume that we are in wave4,
still than sub wave(v) pending.
So i think that New low comes and after that wave 4 start and also nifty start wave 4
3(4)
Master,
Have the prices now confirmed start-up of (iii) wave?
Or there could still be the possibility of (b) wave.
sir, i wrote wrong the 1st of 3rd down i wanted to write 5530-5470...sorry
@ naresh ganesan,
Just because some one posts his trade here, I can not be held responsible for "Correcting each & everyone's perception".
In here, only my perception is my responsibility. And I make them in very measured way and in a very responsible manner. Even after taking extreme care, market could beat us. One should act swiftly and keep the "loss" to a minimum and join the "Change in direction" swiftly.
The only chart I post here is the "Hour lead indicator" and its inputs should never be underestimated. When it joins forces with other studies, the trade set up becomes high reward-low risk one.
Prithvi Chidambaram, Prithvi Raulji
User details same, but writing from 2 Blogger IDs , y so ?
Sandy is free to give his view , and he has mentioned the SL
If u can be constructive in comments, that will be beneficial & stick to 1 ID
Master said on 21-8-13,
A caution:- until "9830" is not cleared, the danger of (5)th of 3rd wave sub-dividing remains.
Our pref. view is 3rd complete as long as 8860 is protected.
80% retrace of last rise, 5254 to 5529, is 5309.
There is an attempt to pause here. But hour technicals haven't shown any bottoming.
@ Shriram,
Chidambaram gone now produce myself
many many thanks dear rochak parekhji i am highly grateful please mail me the data whenever your free many thanks
Good Morning Master & all blogmates,
Nifty takes support at Weekly Pivot S1 @ 5316 and bounces back - M S Rao
I am sorry I have given my calls here with great regards for Ilango I am withdawing to give any further calls here. My objective will be to help others only. Please accept my apology friends.
@Shriram ,
Can you pls send me gold bees weekly chart with EW labeling??
@ Prithvi,
Good. Lets focus on the TA, not the human
Master...
If this is (b) wave, can it retrace more than 80% and still qualify (b) wave?
@jay shah
dont have data as such
i can provide u link, u have to manually find out the EOD close of nifty spot on last thursday of every month of last 10 years, through that link
in the meantime, please place ur request again, may be some other jnmate have any source for the data u require
OM SAI RAM
Hi,
Can anyone calculate and tell maximum pain point of NIFTY as per option data on expiry
@ Okay,
If "a" is of 3 sub-waves, "b" can retrace 100% or more.
I compare the (ii) wave with the 2nd wave for their structure, retracement, time, etc.
Accordingly, (ii)nd should have ended @ 5529 and was labelled too in line with that view.
I'm aware that at some point, market could throw us a surprise and change direction. Until it does, let us keep our work going in the most objective manner.
@Okay
I M also agree with you that it is wave (b)
@ prithvi,
cant post chart, but here r the Ew lables visible to simple eyes
i 2377 2667 290
ii 2667 2591 -76 -26.2%
iii 2591 2992 401 138.2% *almost done
Higher tgts for iii are
1.5xi = 3026
1.618xi = 3060
2.25xi = 3244
Thanks for your guidance Gemss Master.
If anybody has entered can book near 5330-40 to rebuy in dips closer to 5290/5300 for 5400+. Please don't get carried away
c up
New Post Done.
@ Sandy,
All Bounces intra today are displaying Hi-FreQ ... unstable wave signature
@ least DlO should be captured to entertain bull hopes is the feel
Dear blogmates posts should have some technical base to buy/sell without that kindly do not post.. it spoils the richness of blog
Dear Jay Shah Ji,
This is EOD nifty data since 1999. You may pick up last thursday of every month from the calender given in the link.
http://www.nseindia.com/products/content/equities/indices/historical_pepb.htm
With Regards
Arvind
23% retrace of today's fall done at 5350
Ilango said
" Even after taking extreme care, market could beat us. One should act swiftly and keep the "loss" to a minimum and join the "Change in direction" swiftly."
Sandy u could have reversed today morning at open and caught the train. Just be mechanical and robotic if u do not want to look at multiple signals....:):):)
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