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...
40 comments:
Sir
ORB Broken??
Namaste Sir and all,
CLICK HERE NIFTY Day 50 DMA chart
CLICK HERE Nifty Day Rising Wedge
BN filled the opening gap.
NS pending (6186-6206)
GM Sir and Friends,
@Shri, point 5 in -ww pattern in 30mins nifty spot chart moved up till 6192?
Day High @ 6216 Day Low @ 6205.
Day Pivot's R1 @ 6208 now turned support breached.
First signs of Weakness below Hr. Hema @ 6192, Hr. Ema @ 6188 & Hr. Pivot @ 6185
sir,
a flat correction completed @ 6203?
subdividing wave from 6178 in 2 min chart?
GM Sir & All
Satheesh Mam tatamotors ?
Dear Ilango sir,
Now this correction is impulisve correction or corrective wave in progress,
Good Morning Sir & All Friends.
Good Morning Dear Sir, Bros.& Sis's
Have a happy day.
Latest Day low @ 6197.35.
6197 50% retracement of rise from 6177 to 6217.
@ilango sir: i understand from your posts that the level of 6155 holding keeps the uptrend intact and breaking that level on closing basis only would invalidate the uptrend. am i right?
@ Shyamal
"intrday can be 6230 upside and 6180 down side"
LOL...what a joke !!
RSI on 60 min above 70, trend remains positive.
Dear Ilango Sir & Blogmates,
OI Table Update at 11:00AM, Pivot-6178, R1-6214, S1-6157, VWAP-6213
Huge addition at 6200PE and 6250CE, the index may osscilate within this range for the time being, Probability of Expiry around 6200 is increasing with time…
Thanks & Regards
@ Karthik,
These are numbers that kept changing with "every day unfolding market".
Depending on today's technicals, it might change that number, probably the 50dsma..
Wave-i/a: 6087-6142 (55)
Wave-iii/c = Wave-i/a => 6184
= 1.382 x w-i/a => 6206
= 1.618 x "" => 6217
Wave-iii almost achieved 1.618 of wave-I
Wave-iv can be in the range of max. 6166-6186 (0.236 & 0.382 of 0-3)
Thank you Master
Till now, 7 consecutive 15 min candles closing below 8EMA.
JAI GURUDEVA
Thanks @ ganesh
as considering up trend are impulsive
wave 3 almost acheived,
now wave 4 in progress which is not less than 6166
Day High @ 6216.85 Day Low @ 6197.35.
NS spending time below Day Pivot's R1 @ 6208 & below Hr. Pivot @ 6211.
Weakness deepens below Hr. Hema @ 6200, Hr. Ema @ 6193.
Strength above Next Hr. Pivot @ 6206 & Day Pivot's R1 @ 6208.
GM Friends & fellow boarders!!
Friends ,
Feb contracts ,tomorrow i.e. 26th Feb is the last day?
I believed it to be on the last thursday of every month , right?
Thanks
@Vivek yes since this thursday is a trading holiday on the account of "mahasivarathiri"
VivekB,
Thursday is a trading holiday due to Maha Shivratri.
@ Mani,
As of now wave-iii sub-wave achieved; w-3 still pending
6166-6186 are hourly channel supports for rise from 6087/ 6129-31, as of now.
This will increase if time correction starts.
@ ganesh
Thanks noted w-3 still pending
6207 6209 ... is 50%-61.8% retrace of the last fall from …… 6217 to 6197
80% is - 6213
If weakness is to return, it should be around 6207 6209
Strength gets confirmed above 6209 OR 6213
Nifty trading in just 5 points range since last 1.5 hours. Great test for traders.
expiry game in progress nifty trading below r1 support is now near day pivot whee 5 dema is also present
options data is holding nifty waiting for oi experts comments
TISCO Update:
1. +ww is formed in 2 mins and will trigger only when prices close above 367.25 in 5mins chart targeting 370, SL will be 0.8 below and after breaching 1-3-5 line.
2. +ww is in making in 30mins chart and may make point 5 around 360. If later on 1-3-5 line is breached on upside then profit lin 1-4 comes around 380, have SL 3 point below 1-3-5 line.
3. Triangle in making in 30mins chart - BO above 372 and breakdown below 363-364. 36 points movement may be seen in the direction of breakout/down.
looks like some move on cards now
Camrilla Day HL3-LL3 : 6203-6169
Intra day supports:
Week HL3 : 6189
Yesterday's gap start : 6186
50 SMA : 6181
Static WHEMA: 6172
Day Pivot : 6170
Sir, 5 waves completed from 5985-6217? If yes, then any flaw considering this upmove from 5933 as correction for the fall from 6356 as ABC
A - 5933 6083
B - 6083 6031 6107 5985 ( 3 waves)
C - 5985 6217 (5 waves with extended v)?
Also, prices retraced more than 61.8% of fall (although corrections can reach till the start of impulse - if 2nd wave OR 80% of fall)
New Day Low @ 6196.55
New Post Done.
Thanks GK & SJK ji .....
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