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...
62 comments:
Dear Sir,
Channel support plz
Last fall retrace critical numbers to be found from the high of 6719 to manage trades.
"6680-85".
Remember pre-market's a = c at 6671 also while monitoring last fall retrace.
@ MASTER,
Lower Trendline value ??
Near 6685??
@Master: Can you pls shed some light on TCS? As per the chart, it is above its jnsar 2131 which signals its uptrend. But on Wed, it resisted 2200 from which it got sold off. Since 2 days it has been resisting 2180 & today it broke yesterday's support of 2150 & resisting it now. Is it an early signal of reversal or is it a general behaviour prior to quaterly results (Apr 16th)?
Day channel value comes around 6670.
30 - 40 and now 50 points Nifty Future premium. Insane manipulation.
Open and High same for Nifty today is first significant sign of weakness.
--> back
68CE has melted 14% intra thus far ..
** Premium has melted
@ Prabhat,
I am quite proud to say that I know Nifty through its bones.
But ask about a stock, it takes time to give you something useful.
Whatever I have shared has gone to make traders "Tense" and statements are taken/ read out of context.
I cover few stocks during weekends.
The elephants I suggested moved big.
TCS continues to be a buy on dips till approx.2000. It is in a big trading mode.
No big change in Bulls camp in OI... Still some grinding left ??
saz - i already posted...think it's gone to spam baba.. i worked out my intra funda, but showing very bad results :P so no idea about "script futures" now. when i was doing stock future -
1) i will work out and trade only for "weekly levels"
2) i will change the segment depends on mkt conditions
3) will not touch news related segment on that week
4) will quit the trade 2-5 rs if the trend is strong will hold upto EOD or for my target
5) i donno about charts..so idea about charts
6) no deep analysis - it's none of my business as i want only 2-5 rs in future segment
7) mostly i will trade only SBI
dear sir now nifty low is 80% of C wave...6685
Thanks Master. Since you mentioned TCS in of your golden stocks to invest, I asked this question. I totally undertsand that nifty is the main focus & that I am humbled that you respond to other non-nifty queries as well. My last question was more intended to be replied when time permits. I was more interested to know if the current correction in TCS is due to its techincal nature or maybe since results are around the corner & hence people are expecting bad results since Infy already gave lower guidance which was soon followed by TCS also.
Day Low : 6685.15 Day High : 6741.85 Hr. Pivot : 6710 Day Pivot : 6737
NS below Day Pivot @ 6737.
NS in SAH mode till below Hr. Lema @ 6705.
Strength returns above Hr. JNSAR @ 6716.
Day Pivot's S1 @ 6696 upholding NS.
30 Min. RSI near Oversold Zone.
Bulls undergoing further weight reduction.
Will Week trend rescue NS from further falls ?
Next 60 Mins. will decide.
For learners sake :
BAH = Buy And Hold BOD = Buy On Dips
SAH = Sell And Hold SOR = Sell On Rises
Hi Saz,
IMHO you need to be focused on just one particular script or index ,eg BN it makes turnover of 299689.59 Lakh so lot of money to be made.
As master says dig deep not wide i.e "breath ,eat , drink and live" the one scrip and see how you understand it, in midst of sleep also you can say all the levels. Believe me trading becomes like floating a balloon with the direction gently with peace of mind and definitely boring, but we got youtube!
sir day trande red sigh and week trande green sigh...?
just penning random thoughts... thought of posting this here for informed opinion / feedback
... "
The Stock Market is a fascinating invention born out of man’s perennial quest for quick gain. A stroke of financial genius – a marriage of convenience between Businessmen in search of capital to “scale-up” & moneyed people with risk-on capital, on the look-out for “value" , those willing to gamble.
Like sailors drawn to the music of the Sirens of Faiakes, from Homer’s Greek-epic Odyssey. Prey drawn into a sucker play. Legend has it that the brave & wise Odysseus alone survived. He escaped the lure of the Sirens by filling his crew’s ear with wax, while he tied himself to the ship’s mast.
The reason for this tangent to Greek Mythology, is to highlight just how difficult it was for even the “Best among men” to escape such powers of seduction. The Stock Market is the apt example of a Financial Siren. A creature of immense allure, temptress beyond compare.
”.
Speculators often forget why they came, where they came from, where they want to go, once they get into trading. All they know is Multi-baggers are made here. The fantastic rags-to-riches stories of a few famous people, inspire their actions. Why else would anyone buy a share of a beaten-down company quoting 14x 1 Forward year earnings ? A pragmatic businessman might wonder how in God’s name can a Rs.1 Face-value stock command a Rs.1,000 premium on the Secondary Market. But then, pragmatism is not particularly a common trait seen in the market, least of all when it prices itself through Booms & Busts !
Pl let me know ur feedback, it helps in improving my writings :-)
sir,
Does it seem like i-ii-i-ii upwards?
sir,
i tried my level best to help saz, but it's not working out for the script. now i am remembering the "monkey story" that too "that's IT monkey" it seems.!!!??? ."innovations continuing" i laughed out from my heart :)
Weekly trend to assert & lift nifty up?
@ herry,
Yes..herry. So what do you want to know?
@ Sujatha,
Yes. We had a good laugh at home reading it. It has a date with "LifeLine".
@ Prabhat ,
Holding 6671 or 6685, it could.
@ Aly,
If you're a bull, read it as a LD first; it should hold 6690 approx.
@shriram,
its good.
@ shriram,
That is full of literary streak. Good work begins..!
SBIN completed a FLAT from 1940-1670....indicators in hourly have cooled off...
Week's Rocket blasted off
1940-1870
@Shriram,
Only problem is I must keep one dictionary next as I read through your writing :-) ...
1938-1868-1940-1870
dear sir last rise jnsar 6662 to 6777 of 80% 6685..hold..
@shriram
same problem!!! main bhi dictionary khoj raha hu.....!!!!!
are bhai...ye to toda easy language me likho!!!
Good work shriram
JN fhelps us fill our ear with the wax that shuts down all the noise
Master
its comforting to have ur support as I take this ahead now , its a new world :-)
@ Piyush , Prakash : Tks. Will fill in the details later
@Shri -- I enjoyed reading this "a marriage of convenience between Businessmen in search of capital to “scale-up” & moneyed people with risk-on capital, on the look-out for “value" , those willing to gamble." .. it can't get more clearer than this... Good Job!!
@Shriram,
Good thoughts and point well made.
But you may want to scale down the vocabulary so as to enlarge the audience.
Nifty has resisted twice at 61.8% today
@ Cool : yup.. its a bit like apriori knowing the kick of the spirit, before u drink ;-)
@ ITFPD , Anmp , Guru : Tks, will review the english, if its a hold pt to understanding.
Whole aim of the writing is to share the "Trade Chaitanya" received from Ilango !
is this a trend warning??? for a change in many many days, we are opening down at 3:00 pm
3.00PM TT & Chart Updated.
Master,
Suspect HnS is now unfurling.. where r the potential supports now sir ?
"new dictionary - encyclopedia" ordered - extra budget for me :(
2 things to note.
Daily MACD may trigger down on Monday, and
Heiken Ashi open (developing) for Monday is 6725 so if Nifty spot opens and stays below 6725 whole day we will have a SELL candle in Heiken Ashi Trading System.
Monday will provide more clues.
dear sir BN is today 50% hold ...so what ia wave runing...? plz ans me sir...
@ Shriram,
If breaks below 6675, you see number of Red in the chart -clusters at 6541,6549,6561,6563 & 6575, earlier reistances could be the first support; next would be, in case it persists, their cousins in green below 6473,6483,6487 & 6498.
Tks Master !
@ herry,
BN in corrective mode. Rises are of 3 waves only so far.
Day Low : 6685.15 Day High : 6741.85 Hr. Pivot : 6696 Day Pivot : 6737
NS below Day Pivot @ 6737.
NS in SAH mode till below Hr. Lema @ 6698.
Strength returns above Hr. JNSAR @ 6714.
Day Pivot's S1 @ 6696 turned 2 Resistance.
Bulls undergoing further weight reduction.
Week trend evading NS this week.
For learners sake :
BAH = Buy And Hold BOD = Buy On Dips
SAH = Sell And Hold SOR = Sell On Rises
@Dear Shriram.....Like Ilangoji ..u too have a way with words....Good writeup....
The thing is if one has capital...why would one take the risk of starting a venture on his own....
When
One can buy a successfully run company's stock wherein u can indirectly employ a whole range of people from top notch directors to top notch management professionals and thousands of workers.....and they are all working day and night for u....just to give u a good dividend and capital appreciation....and bonuses and rights....and what have u....
On top of it one is indirectly also employing big time brokerages ...fund houses....the finance minister of the country....and various other cabinet ministers to work for ur portfolio's health....
While all the time I could be holidaying with a bevy of beauties in a beach-side resort in Goa....:):)
@master
BN hrly chart looks 3 down done from latest high? and from todays low small (i) and (ii) doing?
thanks. on daily chart also forming DOJI near low EMA(support).
thanks.
Nifty is down by 40 points and 6700 put is down 4%. Is this a sign of underlying bullishness or because of the premium of 50 points. How should this be read. Option analyst pls suggest when time permits.
Shiv
@ SB:
hahha.. nice nice.. :-) Well, come to REALITY now, if one had that kind of money to buy controlling stake in a business, smart option wud be to attempt a Private placement (Off-market)
And if the stock was widely held with no major promoter group , then smart money wud simply stay away ... rarely does smart money play the Sy. Market
They prefer the Pvt. Equity / QIP route, to get "value" (minus the froth of speculation)
sir BN jnsar...?
Nifty day trend is down because it is going to close below the respective EMA?
TA --> models the speculative ballooning of the cream (fast n furious but short-lived)
FA --> attempts to model the base bread of the cake (long term food)
Nice way to "see" & "analyse" price action :-)
have a nice day all !
@Dear Shriram...Why would I need a controlling stake in
Wipro TCS HCLtech Infosys HUL ITC CIpla Dr. Reddys Sun pharma SBI HDFC bank ICICI Axis bank Mahindra United spirits Bharti Airtel Bajaj Auto Asian paints Reliance etc...to name a few....
Controlling stake = Again headache of managing a business.....
Investment = Passing on the headache to professionals who can be trusted and relied upon....
Surely the behemoths of corporate India are not all cheaters or frauds....????
Let them work for me....while I buy their stock and sit tight till I die.....
Pls do not mistake me....but my assessment is that being an ex IITian u hv a very high IQ level...which is good...but sometimes... u must think like a simpleton too.....
I am a simpleton...and I was dropped on my head when I was young by my auntie while she was holding me....so I am slow on the uptake.....which I have turned into an advantage.....
KIS....Keep it simple...
Wish u all a great day and luv to all..:):)
@ SB: thats y the word was carefully chosen as "if " --> if one had that kind of money
U see, smart money always searches for value 1st.. Price/Book & wot u describe is more of Retail Investor mentality,.. Think on this over the weekend !
Gotta go, bye all :-)
why Weekly trend did not assert :(
Is it because Day trend is strong than weekly trend..?
Then why did Day trend had no much Damage on Nifty today..
Seniors any views?
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