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 ... -
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Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor...
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rise from ysday's low of 5798 seems a Complex Combo WXY ?
RES @ : 5848 / 5870 NS, ideal place for reversal...
Supports @ 5825/5794/5754
seems like resistance is around 5870...break of Daily 5EMA 5822, to bring new lows..
also the nature of the wave seems like a 2nd wave if we consider the 1st from 5870 (yesterday) to 5805 this morning
Sir, Is there any possibility that Nifty may make new high without touching 5780 (as part of extended triangle or broadening top)??
Dear Ilango Sir & Blogmates,
OI Table Update at 1:00PM, Pivot-5902, S1-5775, R1-5989, VWAP-5851
Nifty is up from the day's low, but not much change in OI position with 5900CE writers still ahead in net OI and in Intra addition, Hope to see some fight around 5900 Level…
Thanks & Regards
@ Prabhanshu,
Yes and such possibilities are shown in the chart above.
I think today close below 5824.....
Dear Sir,
9D RSI has shot up into the over bought zone and the prices has not moved that much. Does that suggest anything. Considering the hourly rsi has turned down.
If time permits kindly suggest
Regards
Siva
http://postimg.org/image/66p5q56fr/
does this hold any significance????
Thanks for reply Sir. . but couldn't understood from chart.
@ ilango sir,
do we consider 34 and 21 hour sma alignment as fast fall setup here? can the same be true of about 100 and 200 dma? many a times we took the alignments as fast fall and at other times,,just mere weakness...how to differentiate?
yesterdays lead indicator( nifty day and 5D chart) SHOWS that the nifty is in double zig zag. todays hour chart shows that the nifty is in expanded triangle and also in a triange. kindly enlighten me can we go for a short without giving any weight to our hour chart patterns.
veerasamy
veerasamy
New Post Done.
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