At 10.35: First hour close is weak. I will try & update this each hour today..Below 5093(Day's Pivot), Nifty will be weak towards 5050-5040.
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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 ... -
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17 comments:
Sir,
Thanks for this
Bala
Hi..Bala
You are welcome.
Sir,
Shall we take long position as high ema 5095 has crossed???
Hi..dare,
I have commented in the earlier post,
ORB is 5084-5100(5111). Intra breakout is @ 5093(the day's pivot).It will be most likely to be a narrow trading day. So take 20-30 points on each trade or trail it.
Hourly momentum is "Down".I have updated the Tech table.
Sir,
how u come to know that first hour close is weak ?
because at 10 a.m. close was 5094 & at 11 a.m. close was 5100??
Hi..dare,
As long as the hourly close below the "Hour High ema", the momentum is weak. That does not mean, Nifty will not go above that. It will attempt "during the hour".
This is not a "sell" indication" but a cautious stand. I would say, some hourly correction is on.
"Hour Low ema" has supported it today.(5084)
Sir,
Thank u very much for such nice explanation...
Hi.. dare,
as ilango says,
10am closing 5094 below hourly high ema @5106,
11am closing 5100 below hourly high ema @5104.
Ilango repeatedly says,
CLOSING ABOVE HIGH EMA SUPPORTS UPWARD MOMENTUM AND CLOSING BELOW LOW EMA SUPPORTS DOWNWARD MOMENTUM.
But same thing is true @ all time frame like hourly, daily and weekly data. That's why market is not so easy to predict.
For example current weekly momentum is still up, curretnt daily momentum is still up, only hourly momentum is down. As market always moves in waves, so the first small wave is down(from hourly data), next strong supports comes @5060-70, bounce back possible from there. If not new support below that zone will come and so on. lets see. In this process when small wave converted to a big wave, momentum shifts from hourly to daily then ultimately weekly. So first signal comes from hourly data, then follow up confirmation required from daily trend, otherwise it continue the previous trend(which is up). Thats the fact behind TA.
HAPPY TRADING with our beloved Ilango.
hi hemanta,
Thanks for such good explanation...
I am happy that today i learned something new from u and sir...will keep on learning from this blog..
Once again thanks to both of u
shanghai drops 2 % from gain of 1 %......some dollar short covering taking place in asian currencies today according to Reuters.
c.m
good work hemanta...you are takign some burden off ilango sir..nice to see the blog becoming more interactive and guys clearing each others queries...
Yes Shanghai currently 3.6 % down from yesterday's close.
Also one Observation. Though the Nifty break 5080 yesterday. The Nifty leading stocks like DLF and ICICI Bank, SBI could not go to their respective highs.
So its look like Nifty may trade towards negative bias in cming days.
Still we need to wait for the price confirmations. Also expiry may spkie the volatility.
Dear Ilango,
Could you please send me the Spreadsheet at winjobs2020@yahoo.com
Rgds,
Vinod
Ilango sir,
Could you plz send the s/s to me also at arun.kadiri@gmail.com
Thank you
Hi Hemanta,
Plz send me link from where i can get RT data for amibroker/metastock pro.
Thanks in advance.
Hi.. Dinesh,
You have to subscribe for that.
most effective data provider's r
1)http://www.truedataindia.com/
(cheapest but presently supports metastock 9 pro or earlier version only, not for metastock pro 10/11, supports amibroker latest 5.20 as well)
process link:
http://www.truedataindia.com/page.php?&p=13
[u can ask them any query using left hand side chat box]
2)http://www.esignal.com/
Best data provider but costly, direct import option with amibroker (from file->database settings, u have to change data source to esignal@rtdataplugin after subscription). Trial subscription is available for 30days, they'll guide u with rest of procedure.
U must have amibroker registered version.
3)u can contact yahoo team for information about subscription for nse rt data
http://in.finance.yahoo.com/
HAPPY TRADING..
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