Nifty has completed an intra day correction and poised to head higher, provided 5077NS is protected.
Break of 5077 will weaken it towards 5060-5050.
Staying above 5077 may lead to 5100++.
Retracement strategy, a must for traders.
Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor...
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I 'll always be there for you. To make you feel that you're secured. And even if the rain is pouring hard and the sky is almost dark... -
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...
18 comments:
sir thanks for yr updates
sir..with 5050 broken...can the shorts be carried overnight..
Hi..Shaq,
As long as Nifty does not break 5010 NS, "RISK" is there...
These are complex corrective intra moves..May be it is over..at 5040NF..
sorry ...5050 never got broken on spot...its money on dips...i guess no shorts till price really confirms..
Hi Ilangoji,
I was short at the morning with PE 4900 Options bought at 70(avg). I kept it till 1.42pm quit at 66(avg) hmmmm .... After I quit price shot to 79 :( Just mentioning my trade. Any advice. Any take aways? This used to happens to me; when I buy markets goes to the opposite direction and when I quit market moves in the direction in which I was holding my position. Any help(trading tips) from Ilangoji?
And one more thing when ever I sit in the sidelines market keeps moving steadily in a direction. When ever I enter the market, market either become choppy, stopping me out in all directions
Thanks
Siddarth
Hi..Siddu,
A simple remedy: Wait for a consolidation in a trending direction to show you the probable supports & resistances. Then, trade the break out coupled with intra day reversing.
Today's intra day was given handsome rewards.
I felt it is a triangle. So I suggested longs with 5077 as S&R and the pivot of the day 5059, more or less, gave the support.
You need to figure out the commencement of corrections and stay away.
Sir Namaste, NS forming tri top at 5094-95 what does it indicates for further move? unable to cross 5100 level?
Hi..Vallala,
It could be a consolidation band before another move up. Or it is a triple top in the short term. Only Monday will have the answer..
Hello Ilango,
Can you tell me from where you are getting the values for Nifty hourly High, Low, Close? Is it manual observation?
Hi..Anil,
I get it from "India Bulls Broking a/c".
You can also manually take it from "NSE Home page" - click on the intra chart and the values need to be checked by moving the cursor on the chart. The chart need to be refreshed to get the latest. It is delayed by 1 or 2 minutes.
lol, Sidduji, I have the same problem! When I sit out the market goes remarkably smoothly.:D
I'm trying to trick the market into forgetting my presence.:p
Thank you sir. I've a copy of your Tech sheet. I wish to make a separate sheet in tune with my requirements. I need your permission to copy the Excel formula from your sheet to mine.
Hi Ilango,
Please forward me the Excel sheet also. I missed to post my email ID 2 days back.
My email ID is shikhartimby@gmail.com
Regards,
Prashant
Sir,
Kindly send me the excel sheet.
Mail id - gopkrish@gmail.com
Thanks in advance.
Regards,
Gopal
Hi..Yoda,
Isn't that wonderful to see your comments here...I guess we need to persist with our plans. Most of the problems occur trying to trade during short trading ranges.
Come often with your comments and market insights.
Hi..Prashant & Gopal,
I will send the file tonight.
Hi..Anil,
You can use all the formulae in them to your other applications.
Ilango,
please forward me the excel sheet too. my email id is gauravk01@yahoo.com or aletrnatively gaurav.jkbs@gmail.com
GK
Hi ilango,
Can you please send the excel to me as well
shanmugamkr@gmail.com
Hi Ilango Sir,
Can you please send the excel to me as well
bhandaribrahmesh@gmail.com
Many Thanks
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