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Long @ 4978 with Sl 4970 NF
( Daily Channel bottom came to 4971 for the day, if you connect 4353 & 4577)
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...
8 comments:
hi sir ilango,
sir plz give me bank nifty view
Hi..Alpesh,
Just giving views based on only the 5 day chart may not work all the time.
But I can say this much: Bank Nifty is out performing generally. If Nifty reverses up, bank Nifty too..
8790 is an intra support and 8860-70 a resistance.
Hi Ilango,
Nifty futures can still go up from the current level or we can see the profit booking?? As per your view..i can take position..
Very good call and Analysis.Thanks sir
Hi..Prabhanshu,
If it can stay above 5005, it can reach 5040. We need to see its consolidation pattern. I am also watching for hourly close above the high ema for momentous move..
It is still "Trading moves"...
Ilango sir , i m not traging due to volatile moves. Waiting for a clear trend. Plz give level for clear bullish and bearish trends.You told upside is limited so tell closing level to watch for positional trade.
Hi Mr Ilango..
RSI is in overbought zone do you think we can take short position for 10-15 pts.
Regards
Akhil
Hi..Bizagra,
During a trading range, "positional" may buy closer to the lower range & Hold with a Sl below the lower range.OR Sell near the higher range & Hold with a stop above the highs.
The range so far has been 4904 to 5099 for the past 14 days.
We should generally trade these moves. This market has perplexed many experts. So we can't have any clear cut rule as such. we need to evolve with the changing mkts. So many possibilities exist.
1. If it holds 4890, then a new high above 5100 is possible.
2. It can still go closer to 5100 and end its upmove. US mkts are looking for a new high but a confirmation is awaited for a move above 1070 for S&P 500.
3. The top is already in to be confirmed by a close below 5000 this Friday. Then, a deep fall to 4800 & below...
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