Monday, August 31, 2009
Nifty-Premarket view.
Looking at the world markets, a certain gap down which will confirm the negative divergences affecting the prices..Break of 4690-4700 would lead to a break of 4650(third time this level may not hold) and further below 4635-4580 or 4560.The time taken for this correction will give us clues to the nature of this correction...shallow to 4560-4580 or deeper to 4400 or below.
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 ...
4 comments:
hi ilango ji,
what should be the s/l for conservative shorts created@4650?
regards
rajamani
Hi..rajamani,
Conservative Trade:-keep a Sl of 4680. As 5 day low has not been broken, this "short trade" has been put in this section erroneously. Cover the shorts around 4580-4605 with a S&R @ 4580.
My intention was to just book profits & reenter around 4585-4605. If you have a short, do as mentioned above.
Aggressive trade: Being a short swing trade, book on the shorts around 4585-4605 and reverse to longs with a SL @ 4575.
Best regards.
ilango
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hello sir, i want to trade in nifty, but i dont have much knowledge in technical, how i should use ur blog, or how to use ur calls, help me pls, till now my nifty trades are only lossmaking,
prakash duraisamy
9176019453
chennai
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