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...
23 comments:
@ Krunal Gajjar,
When you take "Week TA", it suggests of continued weakness presently.
Hence, either a minimum "ABC-Fall from 6415-6130-6358-XXXX"(6073) will get completed
OR
an "12345" fall from 6415 will get completed around 5970 or 5935(200dsma).
Namasthe ilango sir and friends,
Today's quote received :
There's nothing more satisfying than completing something that has taken hard work, belief in yourself, confidence in your abilities, and faith in the Universe.
Right Sir.
Thanx Dear Sir.
Dear all,
posted a symmetry chart in group have a look.
Thanks
In Daily Chart Fast Fall setup/ -crossover seen in 7/21Sma
ns near 6153
3pts more needed for WW trgts time remaining 15min
any possibility of lower low near 6134-6120 today????????
@ Dharmu ji,
A little late to class today .
Using pivot studies - Master's mention of cluster of supports near the low of 6146 are Day S2 (6141) , Month S1(6145) and Week S1 (6136).
bear flag on 5 mins - trigger below 6144
Dear Ilango Sir & Blogmates,
OI Table Update at 1:00PM, Pivot-6227, S1-6205, S2-6181, VWAP-6201
The Bears have more or less sealed 6300 level for the time being, whereas the PE writers are still holding on from 6200-6000, Any fall from hereon won't be in quick time…
Thanks & Regards
@ Illango Sir
1:00 pm TT update pl
@ Sanjay Jaiswal
The data for FII buy/sell in index fut includes both Nifty Fut & BN fut.
Then how is it possible to arrive @ the avg buy/sell qty & rate as mentioned in ur site.
Pl. clarifty
Sriram
@ Sanjay
U have assumed that the entire trade is only on Nifty Fut.
Sir
A flat correction going on with 3-3 done of a-b-c?
a from 6145 till 6171, b from 6171 till 6153..and if we consider a=c , c can target 6179 (26 pts from 5153) or higher at 50% retrace place at 6185 ?
Just trying to see them...
@ anand,
6174 6184 ... is 38%-50% retrace of the last fall from …… 6222 to 6145
Also:
6184 6193 ... is 50%-61.8% retrace of the last fall from …… 6222 to 6145
And DLEma is snuggled inbetween @ 6187.
@Sanjay Sir: Me too feeling the same. There might be a grinding between 6194 to 6070 levels for this week.
Or with 0.618 factor giving only 16 points, end around 6170 expected (Making it really a flat correction with 6171 as established resistance level now)? Or am I counting too early, and wrong ?
Thanks Sir..Saw you response after my revised post.
Yes, Have been watching the fibo levels for the fall and rise..Thanks for this amazing eyesight!
Only trying my hand on waves..and to ensure that I don't forget the corrective patterns soon! :-)
@Master: booked my shorts @day's low today. Skeptical to take fresh shorts (im in doubt - what if I take them with 6207 NS as SL).
Next move - I am waiting for nifty to break 6100 & maybe if 6070 holds (which looks like, given the current 6000 PE OI) & might think of going long with 1st tgt being ~6190-6200. I agree with Sanjay sir that 6300 maybe pretty much sealed for this series.
Does it sound logical?
@ Illango Sir
Hly update time to be changed to 1:00 pm
Sriram
@SKS
Around 90% Trade is in NF, so it is taken as approximation
Thanks & Regards
@ sanjay
Thanks
@ Prabhat,
6193(also the breakdown point @ open) and 6207(also the ORB @ 6204 today) would be critical for this 3rd wave (or "c" wave) to continue downwards.
6184-50% & 6187-DLEma - resistances.
New Post Done.
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