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...
28 comments:
@ UNKNOWN,
Market changes every hour ...every day..every week.
Based on these developing price patterns, we plan our trading strategies.
Our Pre-Mkt aggressive trade levels during the current week would have given a "follower" sizeable winnings.
I do not wish to predict. However, we do "identify" the "direction". And the trader, armed with the direction and the retracement table, would travel the success path all the time.
Answers to your questions are available in the morning's first post, Pre-Market View.
OK SIR
In first hour of trade Bnifty showing lot of volatility low15204high15460 almost a 250 point move
now trading at 15368
Gm sir..
Fall from 8158 to 7877.. fibbo 23.6% 7944 & 38.2% 7985..
So 7944 imp to cross
Hourly also 7945 resistance..
NS resisted nr 34DEMA @7956
Weekly JNSar triggered yesterday
For long SL 7931-30=7901 ,
For short SL 7931+30=7961,(hourly JNsar 7955)
Day Low : 7884.85 Day High : 7952.95 Range : 68 Points Day Pivot : 7936 Hr. Pivot : 7924
NS Half a Century below OK ( Octa Kilo = 8000).
Currently hovering around 7930.
NS a tad below Day Pivot @ 7936 & a tad above Hr. Pivot @ 7924 indicating indecision.
1st Cluster resistance @ 7955-61 for Aggressive trades preventing NS's rise & 1st Cluster
resistance @ 7885-95 prevented NS's fall. Break of either of this will decide direction.
NS in BOD mode in Hr. T/F, Day T/F & SOR mode in Week T/F.
Strength returns above Hr. Hema @ 7959.
SOR = Sell On Rises
BOD = Buy On Dips
BN next support around 14972, only short indicate BN chart
Tussle on between FII & DII.
Tussle on between Bulls and Bears
That tussle is also reflected in OI chart. Right now, no clear direction:
http://www.niftytrader.in/nifty-intra-pcr/
Quantitative Analysis:
Prices bounced off 34 dsma-7950 on 24th by 75 pts to 8025.
Prices have now bounced off 50 dsma - 7877 on 25th/26th by 76 points to 7953 (or 7885+75=7960; 80% of last fall -7960.)
Followers of JNSAR :
Day Low : 7884.85 Day High : 7952.95 Day Range : 68 points
NS trading Century and a Half below TODAY'S JNSAR @ 8058.
NS Half a Century below Hr. JNSAR @ 7955
NS below Day's pivot @ 7936 & Hr. Pivot @ 7924 indicating bearishness.
Continue Shorts initiated on 23rd Sep around NS 8049 with comfortable TSL.
NS currently hovering around 7900.
Note : Strict SL is a must for all trades whether Short or Long.
If weekly trend supporting today than we may see again -100 point down move today :)
In Weekly
7840-7865 support area
breaking of that expect down move up to 7540 :)
Hanging Man,
latak ja belt ki tarah
Last month's close was "7954". Refer month chart and the suggestion has been for a lower close for "iv".
Dear Ilango Sir & Blogmates,
OI Table Update at 11:00AM, Pivot-7994, S1-7918, S2-7863, VWAP-7974
The New Series starts off with a range of 7800-8200, Nifty is a Sell on Rise till 8058, the Weekly VWAP is not taken out…
Thanks & Regards
Good Morning Master and Friends....... Master having part booked .. what would the best re-selling levels? Near 7968 (61.8%) ret or 7998 21hrsma ?
RIL ,LT and SBI
Breaking support and turning bearish
More down side pending in all stocks
@ sudharsan,
One selling point was 7877+75 as suggested yesterday of a "brief bounce".
Anything above 7954, preferably close to 21 Hr sma or 34 hr sma would be a sell at least till Tuesday.
Once the first part of the down move gets over, we could then look for a larger retrace for the next sell while "trading the sizeable bounce".
ICICI too Bearish
Thank you Master
BN back in -ve territory
@Master,
Please throw some light on RIL chart
Wave -A completed @859
Wave-B completed @1043
Now it is in 3/C from 1043
???
now iii tgt nr 925
Pls
Day Low : 7884.85 Day High : 7952.95 Range : 68 Points Day Pivot : 7936 Hr. Pivot : 7918
NS a Century below OK ( Octa Kilo = 8000).
Currently hovering around 7906.
NS below Day Pivot @ 7936 & Hr. Pivot @ 7918 indicating bearishness.
1st Cluster resistance @ 7955-61 for Aggressive trades preventing NS's rise & 1st Cluster
Support @ 7885-95 prevented NS's fall. Break of either of this will decide direction.
NS in BOD mode in Hr. T/F, SAH mode in Day T/F & SOR mode in Week T/F.
Strength returns above Hr. Ema @ 7930.
SOR = Sell On Rises
SAH = Sell And Hold
BOD = Buy On Dips
dear ilango sir BN is 16310-15771 (A)
15771-16272 (B) 16272-15204(C) and c wave is 200% done...?so abc is done...?
@Prithvi,
ICICI has made a lower low than yesterday and trading below pivot. Seems like more downside.
http://www.niftytrader.in/?id=ICICIBANK
a small contracting triangle of 90 pts developing in nifty 2 day charts
ns cmp near 7890 is on lower T/L of CT pattern
may bounce from here towards 7935 to test upper T/L of CT
willl be negated below 7877
New Post Done.
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