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...
39 comments:
@ Nitin Kadam,
SunPharma, after a huge trise from 196 to 652 is on a huge consolidation with "A" wave done @ 553.55; "b" in progress; if holds 575, it could move higher to complete the "b". around 625 or more...
Thanks master. I too had the same question.
Thank You ! Thats very Quick reply :)
@Master: Is there any mild +ve divergence in the 5 mins chart ?
Master,
Todays fall is 5, how X ?
Shriram
5th started .... from the high of 6356...(4th can move above 6130 - Masters chart)
right???
@ Squander:
Either C/3/Y started Down from 6356, where r u getting 5th from ?
Master
Feeling very low today. Bought 10 Lots of 5900 PE at 46.75 when market was at top. Had to go away from screen for 1 hr so sold it out at 47.5. When came back it was trading at 82. :)
Feeling very low and frustrated. But do not want to rush into trade and keep myself focused.
Learnt from you. Markets are not going anywhere. We just need to plan and execute our trading plans. What could be the best point to reenter market.
What I have figured out is an aggressive trade with low quantity near 6010. i.e. 50 - 61.8 % of today fall and 80% as SL. If market does not reach that level then breaking of 5965 which will mark start
of vth.
Pls guide if strategy is fine or how can I do some optimization to it.
read it as
4th cant move above 6130
Nifty at resell zone.
@iris(with due respect fr master)
Dont worry abt the trade that has slipped frm yur hands. Nw hr is also negative what else yu want. Short at any point.
@ Iris,
You did the right thing as per your situation. Your trade, selling into strength, may be repeated till EOD confirms a reversal.
At these points selling calls is better
shri
Student eyes...
C.a/1 - 6356-6027
C.b/2 - 6027-6097
C.c/3 - 6097-5933
.Cd/4- 5933-6048
Ce/5 ... 6048- xxxx
news coming out that nifty fall was due to order punching mistake from a broker today in nifty 47800 nifty order they convert in 4 lac 78000 (sms from a friend)
IIFL again
And if prices break below "5985", it would be weakness with "5998" as SL.
@ Squander :
What is 6130 , which wave Low, which date ?
@Stock4sure....I got an SMS that some aliens from Mars landed on the BSE building terrace....:):)
Just kidding.......:):)
@ Squander:
C.a/1 - 6356-6027
C.b/2 - 6027-6097
C.c/3 - 6097-5933 ..
But here
3.i/a 6356 6027 -329
'3.ii/b 6027 6098 71 -21.6%
3.iii/c 6098 5933 -165 50.2%
iii / c does only 50.2% x i / c ? Difficult...
Not that it should matter, but my RM from brokerage house told me that some institution sold 12 lac shares of NF. But I wonder how that would cause the fall since, nifty is an index. For it to fall, the nifty 50 stocks have to fall.
it is on masters chart - 4th cant move >6130 (right side)
shri...
you count looks perfect...
got it wrong....failed in my first exam.... gotta learn more
@ Squander:
Nothings final.. dont worry. infact am scratching my head on the fall from 6170 ...
Dear Ilango Sir & Blogmates,
OI Table Update at 1:00PM, Pivot-6029, S1-6002, S2-5956, VWAP-6013
After the sell-off seen in the morning, the index is unable to move above 6000 for the time being with huge addition at 6000CE, Sell on Rise till 6087NF the Weekly VAL is not taken out…
Thanks & Regards
dear sir nifty hold 5985-5965 so start of C and below 5985 start of Vth...?
@Shriram
cool mate...
Why nifty not breaking 5985 ... or 6000 ... Waiting for weekly trend to assert itself for today last session or tomorrow.
@Prabhat
Bearish FLAG formation is under process on hourly chart break below 5985 will give target of 5940......both levels coincides with Sir's levels......lets see how it plays out.
Oops sorry Master also mentioned it on the above chart.......
Sir
Developing BN JNSAR please
10293
dear sir can wave C start..?
Thanks sir
6004 6013 ... is 50%-61.8% retrace of the last fall from …… 6042 to 5965
80% is - 6027
If weakness is to return, it should be around 6004 6013
Strength gets confirmed above 6013 OR 6027
@ herry,
Ilango said...
"5956-5977"-61.8%-80% of entire rise of 5933 to 6048.
February 6, 2014 at 10:31 AM
Ilango said...
For the prices to move up in 'c", holding 5985 is essential.
February 6, 2014 at 11:49 AM
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Now trail it up to "6004" or "5999".
yes sir and weekly trande doun....?
today holding 5985 so start C so weekly trande is up..?
@ herry,
Which weekly trend is showing "UP"...?
I think, you're confusing yourself without understanding comments made in different contexts, situations..
New Post Done.
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