Day Trading Stocks & Futures

[Romeo1998]

If you have 2year data of stock then will the count be same as if you have 5year data?
Also from where do you start counting waves is there any particular criteria from where counting starts or it depends upon everyone's view point?

in elliott waves, the right side of chart changes the left side of chart, so with new data, previous labelling with change...
for counting waves, just pick the lowest or highest point in weekly timeframe of last 5 yrs if u r watching daily timeframe...

 

[abhi.]

TCS coming in buy zone if one wants to take advantage of buyback....

Be careful ST it can produce a huge selloff too

 

[Raj232]

Banknifty might see sharp downmove by/before 12 PM from 23860 level ... technicals were showing strength in Morning.. but it seems to be retracing..
Should touch 23750..

 

[Romeo1998]

looks like beautiful banknifty is trying to fly away

 

[sridhga]

ha ha
market did a fool of retailers
and
moved up

Somehow, I do not think that large players out there are here to take money away from small guys. The amount they can make is too small for them, if they target small guys.

I think this is what happened. Some large institution or several large institutions had long profitable positions after yesterday's spike. They could not all exit yesterday evening. This morning open would give them enough trade volume to exit. So, they placed their exits, this morning at open. That possibly explains the morning dip. We can also call this a pull back. Actually, I was sitting on a long position and I believed that today it will surely be in the green. But, because of the heavy selling by institutions,it took a dip. Initially, it looked like open = high. which also happened to be higher than yesterday's close. Then, I placed my sell target as the open price and left it there. My order got executed at 9:42, when the position not only hit the open price, but also crossed it by a substantial margin. I exited my 23200 CE.

 

[Raj232]

looks like beautiful banknifty is trying to fly away

I feel it is a small trap.. it will fall a bit before trying to fly again.. it was flying whole morning

 

[sridhga]

elliott waves r always accurate, but different people count waves differently, abc will fail if we see a new impulse wave from today's low at 23650, i think the wave 5 forming from today's low will be a diagonal

One quick question.

What time frame do you use for observing Elliott Waves on Bank Nifty?

 

[Romeo1998]

One quick question.

What time frame do you use for observing Elliott Waves on Bank Nifty?

5 mins

 

[trader.trends]

Ten months into this year, for me, Bajaj Finance has been the best performing stock for intraday trades. Which is yours?

 

[kharikumaar]

12200/ 24700 seems to be in sights in the coming days.