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...
24 comments:
Master,
6073 is the figure for Jan Expiry too. Much of relevance to old timers who trade taking this as SAR.
Regards
@ SJK : y true... Dabba traders here have simple funda.. Short < last expiry, long > !
Lagata hai opening main hi fir se jnsar trigger ho jayaga....
jane kaha gaye wo din...400-500 points milte the jnsar trade me....
Wo subah kabhi to aayegi...KAB?
Hey shri ramji...
ye kuch samajh nai aaya...khulke samjhao yaar....
@Master,
Instead of "Nifty, opening below 6136, confirmed & started a correction.. "
could it not be,
"Nifty, opening below 6136, confirmed & resumed its down move started from 6415(6356)..."
??
@ ANMP : short below 6073, sustaining below, tgts : 5900 - 5800 !!
@shriramji
wo to thik hai par kal kaha exp hai?
You mean to say clsing below jan exp close is bearish for rest of the year?
@ ANMP: mere bhai.. meine kab kaha ?
SAR : 6073 ... go short below.. if DOWNTREND clicks, u may end up seeing levels mentioned in next few sessions..
@shriram
Dabba traders here have simple
funda.. Short < last expiry, long > !
iska kya matalab hai?
Arere are re Jai shriram Jai shriram....
Dabba wale tho mumbai me hain meri jaan.... gujarat me nahi....
chalo thoda charting karlethe hai... old timers ki jaisa
when nifty spot made Higher Low around 5990 its should Test and Break Out Previous Swing High of 6170 for upside confirmation of up move, both doesn't happen yesterday till 3.25PM 6000 PE @ 7.7Rs tho leliya
Our night ki post main Apko Bravo karke bulaya isliye ki apne sirf OI per depend hoke long hold kiya.
During morning session when PE crossed 14 trailed the stop to 13.7 got triggered
agar 1000 ka quantity ka simple issab lelo tho single lot ki issab se 120 nifty point ho gaya na
where we are getting 120 points nifty movements these days?
Bhav chadake bachheka bali dhene ka plan math banaho yaar dosthi main...
Janak - follow up of the "last week post " - nifty done exactly and break here will give 6030/6K/5962.
Intraday support 6090 to resistance 6112to 6139. tomorow EOD close may be around 6068 to 6085 , "double cat on the wall :) break below nd well closed below is -ve.
@Ding A Dong,
Ho sakta hai aapne 137 ka maal 13.7 mein diya.
@anmpatel
when you call last expiry as SAR then this holds good
Short = price < last expiry and long > !!!!!!!!???????????????????
when you call last expiry as PIVOT then this holds good
Short = Price < last expiry and Long = Price > last expiry
ab hey dabba trader ka mathlab tho http://www.youtube.com/watch?v=nYl5Ibcvbic
@ITradeForProfit Daily.... aapka muhh me gee shakkar....
20% picture abhi baki hai Sir....
jab last month 19.5 ka mal 180 ban saktha hai tho is month kyo nahi
this is what Rohit comment on option was talking about last night
which SBSB posted on Jngroup
some how pura stock bi munafa ka chota issa hi tho hai...
phir bi 6160 kho SL level man lethe hai... kay kehana?
@anmpatel. Sriram is referring hawala trading method... In this trader go long or short for the current month based on previous month expiry number as pivot.it works well in trending market as other services methods.search for hawala trading in know blog.. u will hit previous discussions.
Sujata - yeah - 6k pe was around 10 today! so if NF hits 6k tom - i will cry buckets for not getting into it....:-) 6100 pe+ce was around 175 last week - today it was around 85 - so writers milked it.......
@ Nitin Kadam,
You asked:
If take any system we follow like Jnsar when its in BUY . Buy on dips @Supports. ANd when its in sell then sell on rise @Resistances.
When the Stoploss of this reentry trade triggers then just wait for reversal. and no further reentry trade after that is what i personally do.
But sometimes in situation like today's as you posted week is asserting its trend or when LT is impacting more .
One should avoid reentry trades too? Or Just stick to regular.?
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To make effective re-entry trades, some amount of technical input is needed.
Stochastics could be used for this purpose, remembering that during "trending mode", it should be allowed to spend more time in oB/ OS zone unlike in a "trading mode".
Whenever a "tussle" is expected, like the trend assertion or reversal period, trading opportunities emerge; one should study the emerging resistances & supports and effect the trades.
Without taking risks, you can not make these kind of re-entry trades.
Today's pre-market analysis would have one to part book the JNSAR longs at open when Nifty moved below "6136" suggesting a correction and when it completed the same @ 34 Hr sma which was quite close to tomorrow's JNSAR.
Each situation should be read according to their merits.
We have a simple statement in the pre-mkt trade table:
Use the 1st Lot to re-initiate new trades in the direction of JNSAR during trending phase @ 21/34 Hr Sma or Hi / Lo Emas.
Only when you practice it, your belief system gets strengthened and your confidence level rises.
Get Rich Slowly and "Quietly"....
Namaste Ilango Sir & Blogmates,
Neutral to Bearish: Bears pulled the trigger when it mattered most to close the index below 6100 and a follow-up action tomorrow can bring 6050 in a jiffy though support still very strong at 6000...: Option Analysis for 20-02-2014
Dedicated Option Open Interest Blog
Duplicated at Wordpress Site
Thanks & Regards,
Sanjay Kr Jaiswal
@ DAD: suggest rather doing post-mortem commentry, u pl start giving ur views in live trade. And pls dont selectively "re-phrase my words"
shriram said...
@ Chetna:
61 strike is Bullish.. so am long.. hoping to see 6165-70-90 NS tomo. Nothing more to add :-)
February 19, 2014 at 3:09 PM
Price achieved the 1st Tgt in my mind on same day @ 3:29PM, and though i was off JN, i booked gains, as there was the possibility of this being a big ZZ
Also come to the pt direct. We r wasting each other's energy in round the bush talk. If u hv a pt state it clearly.
Shriram, totally agree that post match commentary is the easiest job, no risk and u get lot of opportunities to find out flaws. When it comes to giving views during live trade, most chicken out. If one trade works well, it cannot be termed anything but tukka.. This blog is an institution and we need Professors with proven track records and not tukka professors ... Am sure our Principal knows which Professors to be allowed in the classrooms and whom to be kept outside the gates..
possibility of nifty testing near 6133 ns levels tomorrow near 2.00pm...
.a small bullish ww developing.
Learnt from experience: Whenever I thought I was "shana" [smarter] than the market the market took my money. Then I started following JNSAR... and the market rewarded me. I thought I had cracked the market and had ignored JNSAR once in a while and got lucky and started acting "shana" again,... and as expected... its a cycle that I have gone through so many times :) And each circle brings me a little closer to mechanical trading -letting go of the ego and taking a trade when the number triggers. Its completely self analysis and self evolution... and the journey is quite interesting as well. Ilango sir, I have no one but you to thank for this.
a small WW also developing in DOW charts for trgts abv 16225 today near 2.00pm U.S time
if didnt fall in big way near close then may close near 150 +
mrkts may start with positive global cues from U.S at least (N.B....asian markets kya karenge ?????)
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