At 12.10PM: EXIT all Longs @ 4910. Will review at 4850.
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Conservative trade: SL changed to 4890.
Aggressive trade: Long @ 4915.
Target 4970-4990, SL 4890.
NIFTY may be doing an ending diagonal in the last move from NS 4958.
First Trade 5 points lost;
2nd trade 10 points lost.
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 ... -
Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor... -
If the steady FIIs inflow reflects in the prices, 5405 should be protected going ahead and market may encounter minor corrections and keep m...
11 comments:
stops triggered.....now what??
Hi..Rishi,
I have tried to preempt the market and failed.
Just keep selling on every intra rally.with a SL of 4958 or 4965.
Sir,
Is there positive Div. in 5 day chart??
I initiated long @ 4903 with SL of 4981
Regards,
Pratham
all longs seemed doomed today...we could possibly get a 100 point fall from here on...lets see if it materializes....
Ilango sir sud we short here or wait for your signal as already too much fall done?
Yes..Pratham,
There is +ve div in the 5 minute chart. But the prices need to confirm by moving up above 4918.
hello sir watz ending diagonal ....!
Hi Sixface,
It is also called falling wedge in a falling market or rising wedge in a rising market. Now I see that Nifty is not doing that pattern.
50DMA comes around 4845-4850 zone.
Hi..Bizagra,
"too much fall done" is a relative term. With weekly into "selling mode", we need to hold our shorts to reap the full benefits. Many months of rise will get wiped out in very short period.
We will review it by afternoon.
sir,
how do we analyse the price level with divergences.
please enlighten me.
Hello Ilango ji
Whats ur view from here.
I am sitting outside right now.
Shd I wait to build some position or any other view.
Thanks
Sir,
Please give some guidelines for tomos trade..
After such a fall can we expect a 30-40 point comeback in tomos opening trade??
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