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...
52 comments:
dear sir
please help us,
are u spotting any fast rise set up, i.e. to bring up nifty to close up above 5633 , the important level
or
do u see, 5508 as a HL to prv week low of 5487, for the time being
or
do u see it carrying on as a rise of 20-30 points to fall of 30-40-50 points
regards
OM SAI RAM
Last fall is from 5570 to 5509.
Strength above 5547(61.8%) & 5558.
@ rochak parekh,
Fast rise is not possible in the current set up.
Fast fall is developing in day T/F with 5 dsma & 20 dsma.
Conservatively, one can take the last fall as "5592 to 5509"; accordingly, strength above 5560 & 5575.
Nifty should give a last attempt to save 5575 Day Low Ema by EOD?
Thanks a lot Ilango sir..
hello friends..
can anyone tell me where is the LC in nifty??
If prices exceed "5575", the Correction continuing gets a "life" as the possibility of the fall as a 3-wave gets into contention.
Alternatively, one could look at the entire retrace of 5755 to 5509, if held, the 50%-61.8% retrace would be @ JNSAR + filter.(5632-61)
Goldbees forming a Beautiful Bull Flag intra again ...
Tgts: 2900 / 2950 !!
Ilango Sir ki Jai
Ilango Sir ki faith ko Jai
Ilango Sir ki discipline ko Jai
Ilango Sir ki determination ko Jai
Trading = faith + discipline aka mind + method
Dear Ilango Sir,
If 3 of (3) started, what will be the probable targets?
Regards,
Rahul
@ Rahul,
Let 5510 break to confirm it.
Simple calculation is:
.618 of (1)(6093-5487=606x.618=375)=5755-375=5380 min.
Equal of (1)(6093-5487=606)=5755-606=5150.
Remember, we have also labelled the fall from 6093 as "ABC".
A=6093-5487
B=5487-5755, gets conf. on break below 5487 decisively.
C= targets could be calculated similarly.
So, let us wait for signals to confirm along the way to stay confident & stay in the right direction.
Sujatha said...
gaurav/rochak - gold mini above 30242 - 30390/430/599 as new series starts now only..just note down.. above 430 EOD close it may shoot up more. i donno where u people strucked..unable to help in live mkt due to my domestic work pressure.. try to do intraday and close. positional trial your SL as below 30242 is -ve some more downside v may see..but unable to give exact level as i didn't work out for any short term.
PS : at any cost do not mix ur INTRADAY trades with positional..book profit then and then to cover your loss. gaurav take my id from rochak
mam are the levels for sep mini or oct
@gaurav
OCT GOLD MINI only
OM SAI RAM
@gaurav
please chek mail
sry 4d delay
OM SAI RAM
thanks rochak ji also pls check your mail and reply
thanx @ rochak ji
sujatha mam any ullta view as of now
gaurav - for SEPT, SERIES.
anm - y this kolaveri boss?? for positional buyers they can buy for SEPT .series NIFTY with SL of 5477 ..still chances r there (ofcourse borderly) i bow only below 5477 before that buy in dips sell on rise till sept mid
Received joke-message in google talk:
Considering current financial turmoil, Finance ministry has revised the following terms : BSE:- Bombay se exit, NSE:- Nation se exit , F/O:- Future over, NIFTY: No income for this year, FII:- Fraudulent international investors, HNI:- Has no idea, PMS:- Pre mediated scam, SIP:- Suicide by Investing patiently, EBITDA:- Exit before it tumbles down again
@suj
i am also confused, the no.'s u mentioned are for sptember series, gold mini
right ?
thanks
regards
OM SAI RAM
3.00PM TT & Chart Updated.
@suj
and since it has not traded yet below 242, and staying comfortably well above ur EOD close lvl 430, is it appropriate to close some short positions
thanks replying
please dont reply if u r not in convenience to do so
thanks
regards
OM SAI RAM
5487.....watch out
rochak - y doubt.. it's for SEPTEMBER 5th na series?? i mentioned clearly GOLD MINI sept.series reason for the doubt pls..
5510 gone master...
now can we confirmed...3rd or 3d?
thanks.
BN W3=w1 almost
Next tgts for Extended 3rd:
8850 / 8500 / 8218 / 7935
Master
Now the isgnal is to carry shorts or is there any bullish alternative remaining?
Master,
5510 broken so confirmation done for min 5380?
Dear Ilango Sir,
Thank you for the guidance.
Since 5509 broken, can we confidently carry shorts for C?
Regards,
Rahul
check-NS 5480 before 3:30
dear suj
actually , due to levels
since, at that time, mini sept was trading above 30600, and u mentioned 30242 and 30430 , that s why, thanks to my less understanding
so, since its trading above that important level of 30242 & also seems to be trading comfortably above ur important eod close level of 30430, is it wise to treat it as strong and close some shorts for the time being, to be sold at 30599 or higher
thanks
regards
OM SAI RAM
@ Rahul,
We are confident to follow prices and they are heading lower.
Even if it gaps up, it should not bother the "one who has been following appropriately".
Signals help us to follow; similarly, any fresh signals emerge, we should not be in a "Concretised view".
#Gold will match Sept 17 2008 with 12.4% rally http://stocktwits.com/message/15148114
Nice chart
Piyush It will be better to wait to buy Nifty at all!
rochak - i don't hv target abv 30600 as of NOW..this is my positional target for this series..if resistance not there at the high of 30600 i will go for short.. i don't hv commodity terminal today so not able to watch
Dear Ilango sir,
Thank you again for the prompt help.
Regards,
Rahul
In last 4 years first time i saw nifty fallen -4% in single day.
SGX below 5500 now
Saand bhai log, bas ab rote dile ke liye gaana
Bull- aah ki jaana mein kounn ... ;-)
Bye All , feet up wid a chilled Budwiser & relax the weekend !
@sandy
"Piyush It will be better to wait to buy Nifty at all!"
i havent mentioned buying nifty
was it for someone else
BN done with its bear flag target of 9430 - 9440?
of course with down-trend it can go much lower. not advisable to carry any long position
Can Nifty repeat the Shanghai market trend where it went down 5% for 2 days and then recovered in next 2 days :)
Jai Ho ELliot
Jai Ho master.
Jindhagi me teek hone ka maaja hi kuch aur hi
Aur jis se paisa mile tho wah re wah
piyush - tks that's for me??? unable to locate ur email id?? :P not able to send my chart or else pls. post what is the starting letter of your email id??
sujatha mam i will mail you after mkt hr please reply when ever you got time
closing would be below 5510....around 5505.5
I may have made a mistake noting Piyush, perhaps it was w.r.t Sujatha's suggestion.
Lets forget the market now and enjoy the weekend...:):)
Dear All,
Today;s close is second lowest closing of the year.
Raghavendra
Finally Black Friday,so ? will next break 2008 low.Next Fall will IT,FMCG,PHARMA.
@suja,
sent a test mail to ur id
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