Menu
  • Crash Course on Orderflow
  • Training
  • Premium
  • Traders Cafe
  • Intraday signals
  • MCX Signals
  • Library

Marketcalls

Simply Intelligent Technical Analysis and Trading Strategies

  • Software
    • Amibroker
    • NinjaTrader 7
    • Ninjatrader 8
    • Option Action
    • Market Analyst
    • Metatrader
    • Python
    • Datafeed
  • Market Profile
    • Orderflow
  • Markets
  • Commodities
  • Forex
  • Economy
    • Banking
  • Webinars
  • Trading Lessons
    • Algo Trading
    • Infographic
    • Video
You are here: Home / Elliot Waves / Simple Elliot Rules to Follow to find Nifty resistance

Simple Elliot Rules to Follow to find Nifty resistance

March 13, 2009 by Rajandran Leave a Comment


 

As per http://blog.afraidtotrade.com/the-three-hard-rules-of-elliott-wave-theory/

Elliot Simple Rules to Follow :

1. Wave #2 Cannot Retrace 100% of Wave #1
2. Wave #3 Cannot be the Shortest Wave (but does not have to be the longest)
3. Wave #4 Cannot Enter the Territory of Wave #1

As Per rule 3 wave 4 cannot enter the terrtirory of wave 1. So from
the short term count from nifty charts Wave 3-iv should find
resistance near 2724 region as per the rules it cant retrace into the
3-i region i.e 2724.

posted W.r.t to my last post on Short Term Elliot Wave count

https://www.marketcalls.in/2009/02/short-term-elliot-wave-count-for-nifty.html

Source:
www.marketcalls.in

Related Readings and Observations

  • ChartNexus 4.1 EOD charting for Linux , MAC and WindowsChartNexus 4.1 EOD charting for Linux , MAC and Windows Those who are very new to stock markets,Investors,Students who want to have a kick start in Learning Technical analysis, charting and Basic indicators chartnexus, a free EOD charting tool […]
  • Idea Guppy Countback Trailing Stop loss ChartsIdea Guppy Countback Trailing Stop loss Charts Here the Buy call is to hold the stock until the Guppy Countback trailing stop loss holds. Trailing Stop loss will be actively monitored here. If possible charts will be posted here in […]
  • Learn to Recognize a Popular Old School Chart PatternLearn to Recognize a Popular Old School Chart Pattern See examples of a head-and-shoulders pattern in a chart of SPY By Elliott Wave International A head-and-shoulders pattern is one of the most well-known classic chart patterns. In this […]
  • Kalman Filter and Unscented Kalman Filter AFL in Amibroker using Python ComServerKalman Filter and Unscented Kalman Filter AFL in Amibroker using Python ComServer In the last tutorial we explored Kalman filter and how to build kalman filter using pykalman python library. In this section we will be dealing with python com server to integrate […]
  • USDINR December Futures Outlook – IUSDINR December Futures Outlook – I USDINR hourly charts are currently in positional sell mode with resistance come around 63.373. Reverse your position to Buy mode is the resistance breaks on the hourly charts. There is a […]
  • Tracking Shorter term GANN ChartsTracking Shorter term GANN Charts   Now once again GANN  nears the support zone at 4998 and the next level of support zone at 4850 and 4700.   So What could be the ideal trade?   The […]

Filed Under: Elliot Waves, Nifty Technicals

About Rajandran

Rajandran is a Full time trader and founder of Marketcalls & Co-Founder of Traderscafe, trades mostly using discretionary Trading Concepts like Market Profile, Trading sentimental analysis, building timing models, algorithmic trading models. Instructs professional traders, full time traders & aspiring full time traders. Rajandran attended college in the Chennai where he earned a BE in Electronics and Communications. Rajandran has a broad understanding of trading softwares like Amibroker, Ninjatrader, Esignal, Metastock, Motivewave, Market Analyst(Optuma),Metatrader,Tradingivew,Python and understands individual needs of traders and investors utilizing a wide range of methodologies.

Comments

  1. Naren says

    March 13, 2009 at 12:01 pm

    Dear rajandran,Markets did not close above 2724. and my wave matches yours so i hope nifty does not cross 2724 and the 3 ka 5 th wave begins its journey downwards. tgt -- 2300. it should be a fast downfall next week. Naren.naren309@gmail.com

    Reply
  2. Anonymous says

    March 16, 2009 at 2:33 pm

    sir,it crossed 2724..and close strongly…so wave count is wrong or….still hope for 2300….just asking with academic interest no question of criticising..thanksathshree@yahoo.com

    Reply
  3. Anonymous says

    March 18, 2009 at 5:42 am

    Tne Nifty cross the 2808 level. Now it will again resist at 2835-2840 level. Let’s see.

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Email Newsletter

Sign up to receive email updates on latest trading strategies , analysis & financial market updates

We Respect Your Privacy

Premium Access

Username:
Password:
Remember Me
Lost your password?

Tools For Traders

  • Marketcalls Android App
  • MCX Signals
  • Intraday Signals
  • International Commodities
  • OI Tracker
  • Participation OI
  • Your Broker
  • Market Sentiment Analysis

Amibroker Updates

[Recorded Webinar] How to Send Bracket Order, Cover Order and Multiple Orders using Amibroker and AlgoAction Platform

December 25, 2018 By Rajandran 1 Comment

AlgoAction Now Supports Bracket Order and Multi Orders

December 23, 2018 By Rajandran Leave a Comment

Code Snippet : ORB – Open Range Breakout Levels – Amibroker AFL Code (Better Version)

December 4, 2018 By Rajandran 1 Comment

Button Trading in Amibroker using AlgoAction Platform

December 2, 2018 By Rajandran Leave a Comment

[Recorded Webinar] Chart Based Vs Scan/Exploration Based Automated Trading – Amibroker

December 2, 2018 By Rajandran 1 Comment

  • Facebook
  • Google+
  • LinkedIn
  • RSS
  • Twitter
  • YouTube

Metatrader Updates

MetaTrader 5 Demo Servers Now Available for BSE Currency Markets

March 20, 2018 By Rajandran 8 Comments

ChartIQ – WebTrader for MT4

December 4, 2017 By Rajandran 4 Comments

Metatrader 4 – Web Platform Overview

October 29, 2015 By Rajandran 9 Comments

William VIX FIX Indicator for Metatrader 4

May 16, 2015 By Rajandran 9 Comments

How to Install Custom MQL4 indicators in Metatrader

November 14, 2014 By Rajandran 6 Comments


About | Contact Us | Terms and Conditions | Privacy Policy | Support Policy | Privacy Policy | Refund Policy | Disclaimer


© Copyright 2018 Marketcalls Financial Services Pvt Ltd · All Rights Reserved · And Our Sitemap · All Logos & Trademark Belongs To Their Respective Owners·

Data and information is provided for informational purposes only, and is not intended for trading purposes. Neither marketcalls.in website nor any of its promoters shall be liable for any errors or delays in the content, or for any actions taken in reliance thereon.