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...
38 comments:
OI suggest rangebound session. More writing happening in 6500PE and 6600CE
Nifty Live PCR (Put Call Ratio) = 1.3803
http://www.niftytrader.in/nifty/nifty-live-change-in-oi/
Strong PE support pillars in BankNifty. Symmetrical view:
http://www.niftytrader.in/live-indices/banknifty-live-oi-tracker/
Respected Sir and blogmates,
Very Good Morning
JNSAR at 6492 hit
Again the no 6487
Goodmorning master and friends,
Have a Great Learning and earning session...!!
Good Morning Dear Sir, Bros.&Sis's,
Have a Happy Day.
JnSAR is not hit....market is trading at 6495 levels consistently....so wait until it goes to 6490 below...however the must expected 5th up may not come..or have we done with it already....
then what will FII do with their huge futures long? and huge huge put writing at 6500 and 6400 level..answers wil come today depending on europe open....If we maintain at this level, then tomorrow weekend, will cause again markets to jump.....
It is not that markets cannot be manipulated against our positions..it is clear cut case of manipulation..but if you trade with levels it is ok...technicals will show you the manipulation also..the average based indicators..whereas charts... I doubt it...
dear sir can 4th done...?
Sir, Do you see Nifty took support at 6488 as mentioned in Pre market view ?
Sir - y have we given up on ii of 5 of 1 scenario?
ii of 5 still appears as a-b-c and within channel
Huge change in OI. Now it looks 6600 CE have Huge OI. What a change in few minutes. :P
Now, OI trackers decide what to do with ur posiitons ?
@ Bhavir,
Time factor.
sriman muthu ji, nifty low 6488 so jnsar hit ho gaya hai
just now filter of 6512 also trigerred on long side
Also 6512 hit now in buy zone
If google finance working properly for you all? For me, every refresh, the techincals go away & I have to set it again ...
Is there any link which gives live nifty chart along with EMA, MACD & RSI which is fast & responsive... Sorry I cannot use trade tiger since I have a macbook & trade tiger is not yet built for mac platform...
@ Anandha,
Being in a trading mode since the "close below DHEma", you trade based on "supports & Resistances" till correction shows exhaustion.
Yesterday, it opened near Resistances; today, near supports.
Prices seem to face resistance at 34 Hr sma.
It looks like 6600PE written has been reduced and 6700 CE written has been booked today, and move to 6600CE writing and 6500CE and PE writing
@ Prabhat,
If you log into your gmail a/c, and then set it, it remains even after refresh.
muthu - agree with u..good inputs it's .manipulated..if at all NIFTY FUTURE taken out 6533 comfortably and 6552 decesively sure..it will blast upside.. for intraday nifty future - today;s low breakes can give 30-35 ponts downside from here. 6509/6483 SPOT tough nuts to break...solid break only can give upto 463/432... let us see 509 is the magic today
If FII (manipulators) decides not to take the market up, then can sell calls in 6600 and keep at this level for couple of days and take the market downt o 6400...EW by its very nature is designed so that any random movement can be fit into waves....however our JNSAR is spot on as it is based on averages and levels....
It is also possible, seeing market is not tanking a big group is buying 6600 call hoping for a kill in this expiry....
let us wait until tomorrow evening...
@Prabhat :
Login with your gmail account....it will remain
dear ilango sir todays low 6488 is 5th of ii....? a,b,c...of 4th done...?
@ herry,
I do not look at 5-min charts anymore to fine tune the end or start of a wave.
Yes, 6487 is a critical number and holding above could start the 5th wave.
Alternatively, if prices remain subdued below "6524", correction could continue ...
Dear Ilango Sir & Blogmates,
OI Table Update at 11:00AM, Pivot-6552, S1-6530, S2-6509, VWAP-6523
Weak start to the day for the Bulls, with small covering seen at 6600PE, seems like 6600 is resistance for the day and maybe till Expiry, Support still best at 6500…
Thanks & Regards
Sujatha,
6509 cuts easily...so today is flat until there is green tick in dow futures or european cues..and whatever happens tomorrow it is shoot up...
ok sir...thanks..
@Muthu: I am no expert, but if FII have bought & no matter it is puts or calls .. all of them other than 6500 would eventually decay completely provided mkt remains at 6500-6522 levels. Not sure if it is done intentionally or not, but FII are buying in cash since last week while DII are selling. Today has been the 8th day (if not mistaken) that mkts are held in a super narrow range of 6522-6490 (except for a few spike ups & downs)
Sir, 6600 CE OI increasing to un imaginable levels. Today first session itslef, it had huge OI. Do you see 6600 is going to be strong resistance ? or once the moment Nifty started crossing 6530, it will unwind ?
@ Anandha,
6600CE writers are confident of a settlement close @ or below 6600. It coincides with EW in the ST which is - "even if the 5th wave unfolds, it would end around 6600."
The larger correction for the entire rise from 5933 to XXXX would then commence.
The expected 5th wave is what makes the 6500PE writers to hold on. Break below DLEma or a close below it would unsettle the ST bulls.
@Master: Can you please let me know of today's volumes? Not much participation today?
IlangoJi sumarrizes that beautifully....
I agree with Prabhat..FII are buying continously....they had to to keep the index at certain levels...at this rate, I think all the index shares ( more than what sebi and nse,bse want us to believe) should be in their hands...since more than 60% of free float shares in their hands they can take market to wherever they want..even with world war 3, we may go up...
Good Morning All. 6400 may get tested before expiry
Sir, Reminds me of when u said during tisco discussion " give it time not price" ..
Guess will wait for it to take out atleast 62% of rise from 6430 to 6575 @ 6486
muthu - good boost. onceagain future may show 6550/54/60/576 oopsssssss that's enough for my daily food :)..
@Sujatha ma'm: You on long side today !!! I thought you won the minister seat in the bear parliament. !!! I would request you to do some magic & make nifty touch 6550 levels :). But for that it has to first corss the 6524 hurdle & sutain above it for the day.
New Post Done.
book profit in nifty.sugested short around@6510-6520level
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