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...
40 comments:
@master
after 7 hrs BN able to close above 34hr sma...any EW formation for start of 3rd like nifty? or still one downleg remaining...
thanks.
Respected Master and Blogmates,
Namaskar
Day Low : 7636.50 Day High : 7676.40 Range : 40 Points Day Pivot : 7640 Hr. Pivot : 7659
NS well above HKPC ( Hepta Kilo Penta Cent).
Currently hovering around @ 7660.
NS well above Day Pivot @ 7640.
NS in BAH mode in Hr. T/F & Day T/F.
Strength continues above Hr. Pivot @ 7659.
Weakness only below Hr. Ema @ 7645.
BAH = Buy And Hold
Hepta Kilo Penta Cent = 7500
nifty and banknifty both forming CT in 2min chart.....ready for some good move?
@ Anm ji,
On BN day chart - looks like a corrective only. May be more waiting for implusive moves.
@raghav
both CT breakout upside nifty tgt shold 7696 and banknifty should 15540....
this is only for 2min chart and for study only.....
we should keep more wt to major trend...
thanks.
NEW Day High @ 7678.05.
Bulls bulls bulls
almost 6 lacs addition in 7600PE so far intraday
http://www.niftytrader.in/nifty/nifty-live-change-in-oi/
NEW Day High @ 7687.00.
NS about 2 cross cluster resistance1 for aggressive Traders @ 7671-7688.
Once Cluster R1 becomes support next destination is 7715
7691 could be the resistance. . Line joining highs from 7563
NEW Day High @ 7691.50.
Now NS above cluster resistance1 for aggressive Traders @ 7671-7688.
Once Cluster R1 becomes support next destination is 7715.
@ NI3
LTFH is L&T Financial Holdings.
Chetna Ji: L&T has announced an PFS for LNFH of 1% of its equity at a floor price of rs 74
Read PFS as OFS (offer for sale)
@MSRao sir thanks a lot !!!
New Day High @ 7699.35.
Waiting for HKHC (Hepta Kilo Hepta Cent) i.e. 7700
Now NS above cluster resistance1 for aggressive Traders @ 7671-7688.
Cluster R1 turning into support guiding NS to it's next destination @ 7715.
@master
BN clear 80% of last fall from 15725.8 to 15337.9, so this is 3rd? as by also BN premarket view it clear 15645+, any no upcoming as a reliable resistance?
thanks.
@ anmpatel ,
Previous high around 15765 and 15865.
@ anmpatel ,
It should sustain 15540 approx..
Day Low : 7636.50 Day High : 7700.05 Range : 64 Points Day Pivot : 7640 Hr. Pivot : 7680
NS well above HKPC ( Hepta Kilo Penta Cent).
Just hit HKHC (Hepta Kilo Hepta Cent).
Currently hovering around @ 7690.
NS well above Day Pivot @ 7640.
NS in BAH mode in Hr. T/F & Day T/F.
Strength continues above Hr. Pivot @ 7680.
Weakness only below Hr. Ema @ 7661.
BAH = Buy And Hold
Hepta Kilo Penta Cent = 7500
Hepta Kilo Hepta Cent = 7700
@ M S Rao sir
why 7715 is mentioned? does it has any significance or EW target ?
Namasthe ilango sir and other friends,
With the blessings of Almighty, my teachers and other all well wishers,
Mrs. Reshma is now recovering ....and is in better condition now....condition is improving ......
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Just logged in for few minutes.....
now nifty support llango sir
Shriram / Seniors
-WW activated on 15 min chart NS.
Pl check.
GM Master,
Any retrace Fibbo no to consider during this fall?
@ GurukulTrader.com
Follow what is shared here by master and you wont regret the decision.
I daily visit master's blog to check his take on markets which helps me immensely in trading.
Secondly before trading start i check key Nifty EMA's available @ this site
http://www.marginmoney.com/2013/12/india-nifty-50-daily-technical-analysis.html
and let me tell you if you are serious in trading these 2 resources are good to earn peacefully.
Not to forget that all these information is available Free to every one.
@NI3,
7715 is Resistance 2 for aggressive trades for today.
Refer Master's Trade Table in Today's Pre Market View.
Sorry for delayed reply.
@ MSRao..
Sir this was just observation purpose
Only don't worry I am learning till time to read table :
got your point sir thanks a lot !!
SBI to merge 5 subsidiaries with itself.
New Day low @ 7632.60.
NS below Hr. Ema @ 7661 indicating weakness.
Weakness strengthens below Day Pivot @ 7640.
NS changes to SAH mode once below Hr. Lema @ 7635 in Hr. T/F.
NS changes to SOR mode once below D Hema @ 7624 in Day T/F.
For now keep watching 7640 level.
@ Prasad : How bout 5 waves done 7216-7700 , instead ?
Fibbo retraces to keep eyes on..
0% (b) 7,700
23.6% 7,585.776
38.2% 7,515.112
50% 7,458
61.8% 7,400.888
76.4% 7,330.224
100% (a) 7,216
haha.. Masha Allah :-)
a small bearish was developing in BN charts
yesterdak it broke below line joining pts 2 and 4
today again moved up but BN got resisted near resistance of 15660 of lower T/L of lines joining pts 2 and 4
trgt os this pattern is near 15200 today eod or tomorrow open
below 15400 weakness prevails
also possible that the above mentioned bearish WW may not develop instead a larger bearish WW may develop and pt4 may have formed today at 15367 then BN may move up with support near 15390 then pt5 may develop near 16200 within next 7 days
New Post Done.
New Day low @ 7615.20.
NS below Day Pivot @ 7640.
NS changing to SOR mode below D Hema @ 7624 in Day T/F.
For now keep watching 7624 level.
Couldnt manage above 7691. Expecting fall to 7590-80 aprx ie dema-20 (30)
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