"Stock Wealth" blog is created for exclusive stock views as & when time permits. Monday's recommended "ITC" has started well.
Wednesday, October 14, 2009
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...
15 comments:
sir any fresh observation in nifty?
Hi..Subrat,
the "i"st wave top is @ 5063 NF. As long as that holds, we will see more upsides.
Ilango sir, Is it weakness in ur opinion or just profit taking . I think its the former. ur comments sir
Hi..Jay Shah,
Your guess is as good as mine..
thanku ilango sir i think real weakness will creep in only below 5075. dow futures + 80 is already into the prices in all asian and european markets.
Hi Ilango Sir
Thankyou for the excel sheet.Is there any place from where I can get to know the change in OI of Nifty.
Regards
Akhil
Thanks for adding one more good blog ...
Regards
Hi..Akhil,
"OI" figures may be taken from "NSE" site and a series changes may be maintained to get a broader view. Daily changes are available from many sites like "VFM" & others..I do not follow them nowadays.
Hi..Jay shah,
Nifty may spend in a range of 5095 - 5125 before heading higher. I will watch 5063NF for first sign of weakness for the day.
Hi..Sujatha,
It is a good blog with a lot of hard works put in to present a balanced view.
U r right Ilango sir of the range of 5095 to 5125 but after 3 oclock it will head lower.
Hi..Jay Shah,
What mentioned was: It has done a corrective "a" down from the day's high to 5095 odd, it was expected to move up as "b" towards 5025, and now it is on its way down as "c" towards 5100 area and then move higher. This "move higher" may happen today or tomorrow...
ok ilango sir got u
This "c' move down from the recent high may turn out to be a sideways move too. It need not go down to 5100. Correctives take many forms..
congrats for new blog ILANGOJI.
that will help to mkt participants who dont trade in nifty.
enjoyed yr call of bajaj hindustan today!
Hi ilango,
Can u tell me, what parameter can be used
for the following indicators
MACD
RSI
Stoch
also tell me same parameters can be used for all period of chart (5 min, 15min,30 min, 1 hour)
Hi..Pankaj,
Thank you. I am just trying to post those stocks that i monitor and have some good possibilities. Is it a beginner's luck..I guess not.
Hi Gopal,
I generally use 5,13,9 or 12,26,9 settings for macd.
9 , 14 period for Rsi.
5 and 14 peroid for stochastics.
You can use the same settings for all time cycles. Alternatively, you may convert them to hour and minutes to suit the day.
For eg: If your daily macd setting is 5,13,9, then your hour may be 30,78,9 for hour(6 hour data for each day). Whatever gives best results to you, stick to them. You need to experiment once in a while to check the efficiency of these parameters as "more the following, less the efficiency after some "years".."
Best regards.
ilango
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