Tuesday, November 17, 2009

Nifty finds the gap a reliable support

The sloping green trendline acted as a support earlier, breaking the same Nifty came down heavily. And now, after getting resisted at that line for three days, it has gapped up above that line yesterday and found a good support in today's intra selling..
Now this "line" should be a S&R for the bulls and Sell trigger for Bears..(It is 5015 for tomorrow and it rises by 5 points a day)
For the "Gap geeks", the gap has now been filled to carry on the uptrend.
Make or Break day...says my Critic..
Hour: Continues its uptrend with in the channel but with -ve div..
Breaking of the channel: signalling a 4th , followed by 5th..??
After a brief correction, TA seem to have turned up..SL for longs now @ 5010 and SL for Shorts should be the previous high of 5074.

7 comments:

bizagra said...

hello Ilango sir, in this update u gave SL for shorts as 5074. This is also for conservatives??plz clear.as i shorted @5040, can i take 5074 as S&R for me?

NSK said...

Dear Ilango,

Could you send me this excel sheet with advices.

My email id is senthangam@gmail.com

Regards

N.Senthil kumar

jamu said...

Hi,
Could you please send the Techtable excel sheet.
my email id is giridhar . t at gmail . com

Sunil Sehgal said...

Hi,

Can u please send the excel sheet to sunilsehgal2002@yahoo.co.in

thx
sunil

Ilango said...

Hi..Bizagra,

Our Sell recommendation was based on a completed EW structure. If Nifty crosses that previous day's high, then our assumption has erred and hence we should go with the current trend. That is why keeping a tight SL or a S&R.

Do not allow freak quotes to change your direction.

In case the buy gets triggered, then keep the Pivot point as the S&R as we did today.

Hi..Senthil,Jamu & Sunil,

I have sent the updated files and the procedures. Remember this table is "only for assistance" and not as an "Ultimate tool".
Nevertheless, I find it quite good.

Capgainers said...

Hi Ilango,
Can you please send me that excel too...Thanks in Advance.

Capgainers said...

Thanks Alot Ilango!!

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