Day Trading Stocks & Futures

[timepass]

https://wap.business-standard.com/a...from-gail-in-telecom-dues-119122200131_1.html
DoT seeks Rs 1.72 trillion in past statutory dues from GAIL after SC ruling

The firm told DoT that it had obtained ISP licence in 2002 for a period of 15 years, which expired in 2017. But GAIL never did any business under the licence and since no revenue was generated it cannot pay any amount.
On IP-1 and IP-2 licences, GAIL has told DoT that it generated Rs 35 crore of revenue since 2001-02 and not Rs 2,49,788 crore that has been considered for levying past dues, they said.
Sources said the dues being sought are more than three times the networth of GAIL and several times the actual revenue earned.

from the above article..

"GAIL has a vast network of gas pipelines and it laid optic fibre along it to provide bandwidth to third parties. "

 

[Riskyman]

Apex frozen foods seems to have already reversed from its longterm downtrend View attachment 39419

It looks like have completed 5 wave decline and it is pulling back in daily time frame chart. This pull back might be abc or fresh impulsive waves if the previous 5 wave decline was part of some flat correction. its very unlikely to have flat correction. because i dont see any clear 3-3 waves for wave a and b of flat correction. So the 5 wave decline might most likely be a fresh impulsive down and the pull back might be abc. So need to be bit cautious on this stock when it is working on it wave C upwards in the pull back
Same could be the case for Apex frozen.Not quite sure because of less data. But I have marked only for the current movement on that stock.

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[john302928]

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View attachment 39435

I never knew you are also an Elliotician.
I dont have an idea about your proficiency. But I would like to share my 2 cents on your count.
EW has 3 basic rules and they are below

• Wave 2 never retraces more than 100% of wave 1.
• Wave 3 cannot be the shortest of the three impulse waves, namely waves 1, 3 and 5.
• Wave 4 does not overlap with the price territory of wave 1, except in the rare case of a diagonal triangle formation.

Sub wave 3 of 1 violated the rule 2
In my opinion when the trendline is broken one set of waves are completed whether its impulsive waves or corrective waves. when trendline is broken trend reversed
The whole downmove is most likely be some sort of corrective waves. Its very complicated to count. if we could simply apply the zig zag indicator, we can see the overlapping of waves. when waves overlap there is a high probability that they are corrective sets

 

[Riskyman]

I never knew you are also an Elliotician.
I dont have an idea about your proficiency. But I would like to share my 2 cents on your count.
EW has 3 basic rules and they are below

• Wave 2 never retraces more than 100% of wave 1.
• Wave 3 cannot be the shortest of the three impulse waves, namely waves 1, 3 and 5.
• Wave 4 does not overlap with the price territory of wave 1, except in the rare case of a diagonal triangle formation.

Sub wave 3 of 1 violated the rule 2
In my opinion when the trendline is broken one set of waves are completed whether its impulsive waves or corrective waves. when trendline is broken trend reversed
The whole downmove is most likely be some sort of corrective waves. Its very complicated to count. if we could simply apply the zig zag indicator, we can see the overlapping of waves. when waves overlap there is a high probability that they are corrective sets

 

[john302928]

View attachment 39439

I am not convinced bro. your count could be correct and I could be wrong. But I am an opinion as below as corrective waves. we need to wait and see how market behaves. If price goes below your yellow wave 3 then your count could be correct. When we are confused then we have to wait till market gives us clue or if we are not confident on count then we have to skip the chart and move on to the one where we could count them clearly with confidence. we should never try to force the counts. because we are investing money. so its at stake.
Even my count cant be considered correct until market moves in the direction i expected,

 

[Riskyman]

I am not convinced bro. your count could be correct and I could be wrong. But I am an opinion as below as corrective waves. we need to wait and see how market behaves. If price goes below your yellow wave 3 then your count could be correct. When we are confused then we have to wait till market gives us clue or if we are not confident on count then we have to skip the chart and move on to the one where we could count them clearly with confidence. we should never try to force the counts. because we are investing money. so its at stake.
Even my count cant be considered correct until market moves in the direction i expected,

 

[john302928]

View attachment 39444

It can be said so. Because there is a saying among Elliot wave community that if we give the same chart to 10 Ellioticians there is a high probability that each might come up with different counts. Its quite natural. Because it has just 3 rules and has many guidelines. 3 rules are enough to make everyone to count the waves in same manner.

 

[doss186]

It can be said so. Because there is a saying among Elliot wave community that if we give the same chart to 10 Ellioticians there is a high probability that each might come up with different counts. Its quite natural. Because it has just 3 rules and has many guidelines. 3 rules are enough to make everyone to count the waves in same manner.

In my opinion J Welles Wilder defined the market movement with his true range concept crystal clear better than Elliot. This Elliot wave concept is something like astrology, sometimes we win and many times we loose. Because elliot wave depends on zig for the turning points which is not reliable at all. But Wilder's method is pure mathematics and no astrology. We can clearly mark out the closing price when a stock is trending or in sideways to erase our capital. Here is my chart of my watchlist for Dec-20 which show crystal clear trend or non-trend based on Wilder's True range concept. The values are if a stock breaking above 14day ATR positive
and if a stock is breaking below 14day ATR then negative. If a stock is trading within 14day ATR then I assign zero value because they are somewhere in NR4 or NR7 or in Insideday.

 

[john302928]

In my opinion J Welles Wilder defined the market movement with his true range concept crystal clear better than Elliot. This Elliot wave concept is something like astrology, sometimes we win and many times we loose. Because elliot wave depends on zig for the turning points which is not reliable at all. But Wilder's method is pure mathematics and no astrology. We can clearly mark out the closing price when a stock is trending or in sideways to erase our capital. Here is my chart of my watchlist for Dec-20 which show crystal clear trend or non-trend based on Wilder's True range concept. The values are if a stock breaking above 14day ATR positive
and if a stock is breaking below 14day ATR then negative. If a stock is trading within 14day ATR then I assign zero value because they are somewhere in NR4 or NR7 or in Insideday. View attachment 39446

Hi Could you please share an article or any websites about the concept and trading methodology. I would be happy to learn.Thanks

 

[Riskyman]

In my opinion J Welles Wilder defined the market movement with his true range concept crystal clear better than Elliot. This Elliot wave concept is something like astrology, sometimes we win and many times we loose. Because elliot wave depends on zig for the turning points which is not reliable at all. But Wilder's method is pure mathematics and no astrology. We can clearly mark out the closing price when a stock is trending or in sideways to erase our capital. Here is my chart of my watchlist for Dec-20 which show crystal clear trend or non-trend based on Wilder's True range concept. The values are if a stock breaking above 14day ATR positive
and if a stock is breaking below 14day ATR then negative. If a stock is trading within 14day ATR then I assign zero value because they are somewhere in NR4 or NR7 or in Insideday. View attachment 39446