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...
61 comments:
@ Chetna : Gm yes, it is.. :-) Tgts now : 355 / 362
@shriram, how do you put the stop loss in this case?
Sir,
In TT Table JNSAR value may be yesterday...
the neck line break,,,supppose it breaks 346 in cash now..should it be good stoploss?
SL can be = 1/2 the min. Reward (355-340)/2 = 7 rs tha kal ke liye ...
aaj ke liye Cost +Brok +tax , kaise rahega ?
thats right...but purely on INHS basis ,,how would you put stop? suppose we take fresh positons with no carrying forward from yesterday
Bhai STBSTB, unhe samjhana bekar hai...unko sab kuch pata hai kyonki wo 300 se jyada blogs par visit karte hain....
@ Chetna: again same funda na..
min. Reward for NL Brk.out trade = 355-348 = 7 , so SL = 3.5 below ur Entry
JNSAR Value updated.
Prices are contained below 80% of last fall @ 6536 thus far.
Prices continue to close above 21/34 Hr smas.
Decisive move is likely in this hour or the next.
good morning, Sir, and friends..
@Master: Opening my eyes wide & fast fingers. Getting ready :)
Dear Ilango sir,
Referring to Hourly chart above - Does it qualify as an Inverse Head and Shoulder pattern ?
Parameters from 6562 - 6487 - 6549 - 6432 - 6575 - 6498 - 65XX.
dear sir both side 80% hold 6505 and 6536...trade is side long...short
(yesterday low today high 80% is 6505)
Sir
Can we see the correction as ZZ now => if yesterday fall was A (in 5 waves) from 6575 till 6498-> 75 pts and now B is running- flat…and C to proceed if 6498 is breached?
Gm Sir & All
satheesh mam please update on tata motors
dear sir BN VIWE...PLZ GIVEN
Master,
What would be the Optimal wave length of (1).5 if started from 6433 NS ??
@ Ilango
In prediction mode today?
Timing in TT also got updated inadvertently.
Thanks.
@Shriram
tisco booked,,could not resist...time to say good bye to it for the time being...but this upmove from 340 is very swift and fast..looking like a 3rd wave...which and why and howq..no idea otherwise its more of a c ew wise
Decisive move most likely to upside with OI table still bullish:
Huge writing going on in 6500PE.
Live PCR (Put Call Ratio) = 1.3787
http://www.niftytrader.in/nifty/nifty-live-change-in-oi/
what a way to balance index with metals against IT fall..
@Chetna Jethi,
Correct hai... Sometimes metal, sometimes Bank, sometimes IT....
@ Chetna: Pattern trading karna hein to min. T1 (355) tak to trail kar sakte hein.
Infact is there any RES till 359-61 ??
DEAR SIR CAN ABOVE 6536 START OF VTH..?
@ Raghavendra,
IHNS, if spotted at bottoms, are quite effective.
As a continuation pattern- I haven't seen many. It is possible.
@ anand,
Till prices remain below 6560, such a possibility remain.
However, considering the technicals, I go by the green label.
@ Share & Be Sure,
When I updated the chart to include the updated-JNSAR, the next hour "Copy-paste" also got updated..
If it has benefited you, it is serendipity. :)
Thanks Sir !
@ shriram,
It has achieved the minimum @ 6575; Remaining is based on the strength of this break-out.
It could form as an ending diagonal;
It could form with sub-wave (i) longest; (v) the shortest.
Dear Ilango Sir & Blogmates,
OI Table Update at 11:00AM, Pivot-6558, S1-6512, R1-6593, VWAP-6551
6500PE writers are way ahead, and any Dip is a buying opportunity till WVAL at 6508 NF is held, Sell on Rise and Buy on Dips…
Thanks & Regards
@ herry,
There are more than 2 possibilities at work; Prices continuing to close above 21/34 Hr smas keep the direction "UP".
Tks Master :-)
ok sir..thanks..
Respected Sir
Pranam
Sir 11 close value is 6540.20 pls check up the TT.
@shriram,I agree.told you na my impulses take over me soemtiems. moreover the buying price tempted me..i had a look at my current positions...bas ho gaya..ab jaane do..
and yes there is no resistance till 360...i agree fully...
@Chetna: What is the Hema for tata steel? I misssed the train @340-42, so was skeptical to enter in the middle & wanted to upmove to get over. Also, what is your viewpoints on rcom & idfc?
Good morning Ilango Sir and all the Blog mates!
@Prabhat..Not tracking rcom or Idfc,...limited to 4 stocks including nifty..thats it..done want to go more...
tisco HEMA in day frame was about 352 i suppose...i am not sure..tracking it in EW nad patterns...TA limited to day 5.10.20 and 50 dma.....please ask someone else..may be Shriram ji has an answer
@Prabhat..IF market needs to enter a corrective phase in and around elections" Tisco may complete its correction in larger time frame ..Have patience before betting huge in longs
If one is to go long,,,IN TISCO a retest of breakout line at 348 can be a good level to enter...else 360 is coming
till now a well contained channel move from 6497 to 6540. breakout above 6542-6544 and breakdown below 6513-6510
@Ilango sir,
Do you see ever 5(iii) taking this much time consolidating rather moving up? I felt only corrections take much time spending in the range.
Chetna ben : tensun nathi levanu ;-)
5WkEMA ke uppar close diya to end of a suspect WXY 436-332 ??
@ Indorse,
An ending diagonal could take more time.
Normal tendency of 5th wave is fast forward.
But if you step back and look at the "Day Chart", you will be able to accept the "Intraday drama".
Idfc strong resistance at around 117 and rcom strong resistance around 125. Wait for these stocks to surpass these levels before taking longs
possibility of a small WW may develop
ns may form pt4 near 6525 +/-2 pts near 12.00-12.15pm
pt5 may form near 6550 near 1.30pm and
trgt price is near 6510 near eod
@Shriram ji,
where is 5wkema lying at the moment?
right now 20 dma and golden ratio of fall from 373.4 are good resistances at 357...
Weak below 6520-24.
Master----Can this 6540 could be (b) of 2..so one more down to finish (c) of 2 and start the 3rd of 5th wave ??/... please guide...
Chetna: T1 is almost done @ 354.90 , 5WkEMA is @ 359.08 spot
Chetna: T1 is almost done @ 354.90 , 5WkEMA is @ 359.08 spot
wow. a -ww also on NS 5mins. 1-4 tgt 6500-490 anyone ?
Sir says week below and promptly nifty comes to test the area :)
@shriram ji,,i will be long before it closes above 359...and i would love it to be aweekly close before i call the correction off..atleast i think so..50 dma will also be a good indicator for the corrective to be over currently at 367.5 it has resisted the upmove since january
@shriram,,I am in....nifty view ....but reasons different,.,
@ Chetna: 65 strike PE guys tho seem bullish...
just posted the pattern as i saw it, but fact remains it is @ odds with the HARD OI DATA , as of now ..so ...
12.00pm
ns near 6523
may have formed pt4 near 6519ns
6515 is support of T/L joining yesterdays and todays lows....below it may see fast downmove for 6485
New Post Done.
dear sir BN weekness below...price...?
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