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...
20 comments:
Good afternoon, Master
Happy Teachers Day
Thanks and regards
@master,
Divergence negative , but price still playing up
It means fast rise comes???
NS now above 5SMA
@Prithvi,
Nifty show begins at 2:30. Bulls and Bears holding tight. OI tilted in favour of Bears for the time being.
http://www.niftytrader.in/nifty-intra-pcr/
Let's see
34 hr sma has risen now to 8076.
Last rise retrace for 8057 to 8096 is 8072-77.
Holding 8076, upmove continues..
Prithvi,
What time is it now? Nifty show started :)
@Sonu,
yes, it is
Master too indicate divergence,
Prithvi,
Master's guidance combined with OI inputs do magic for me.
Thanks to Ilango Sir and his teachings. Happy Teachers Day Sir!
--> back
+WW has now formed on NS, 1-4 tgt : 8140-50 (1 time 1-3-5 whip possible)
Prithvi,
See here. PCR falling while Nifty moving up (with Call writing on), indicates more downside:
http://www.niftytrader.in/nifty-intra-pcr/
34 Hr sma @ 8075-78
&
DHEma @ 8092.
Though Closing below these would be weakness, more follow up is needed for bearishness to emerge..
Ysday's EOD candle was a Hammer. If NS can close today > 8090-95, tat wud be a Follow-up Daddy Long Legs Doji
And a +WW to look fwd to 8140-50 , wid 7.9k - 8k PE OI rock Soild .
Lookin Bullish for Monday , lets c if we get the Doji & a close >Dev.DHiEMA @ 92 today !
@Sonu,
Superb,
is it update auto???
Just 1 more Q.
Now PCR turning Up and Nifty too,
So bull back??
Ilangoji,
Do you track JP Associates. Will it be possible to give an idea on long term count of this counter
EW folk, how bout this tentative Extended W1 lable for the rise from 7540 ?
i 7540 7968 428
ii 7968 7863 -105 -24.5%
iii 7863 8142 279 65.2%
iv 8142 8050 -92 -33.0% ** done ?
v 8050 8192 142.1 33.2% ** started now
v = 0.382x (i-iii) --> gives 8280 NS, a bit stretched a tgt !
@Prithvi,
See the "Change in OI" chart:
http://www.niftytrader.in/nifty-live-change-in-oi/
Today, PE writers added almost nil. Unless they start writing again, I don't expect much upside.
@ SONU JI :- GOOD JOB SIR..!!
@Sonu,
Thanks,
Need to lots of about OI from you,
But lets do it on monday live Market.
Pls
@Sonu,
Please keep it up..Positive learning from your comment..
Thank You and happy teachers day
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