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...
10 comments:
Yes..tough fight going on...
A close below 4810 signals what ?
CAN I ADD SOME PUT OPTION IN THIS LEVEL
Ilango sir , i have positional nf longs of 4800 can i carry forward them?
Hi..Karthik,
It signals that "daily & hour momentum" is weak but not down..Correction continues.
Hi..raghavendra Rao,
You already have Puts..It is now up to your money management & position sizing..
I would say, wait for some signals of "Overbought" or negative divergence in hour..
Hi..Jay Shah,
You know the various possibilities I have given and also you know that I am short but a bit early with my "Conservative" position.
If it is a fresh long created today, you must exit. If you want to keep it for few days, then keep it for higher targets upto minimum 4850+.
Exit if it breaks 4720 or wait for Monday updates.
So far it looks like a correction to the sharp upmove of past 2 days.
thanks Ilango sir
bye ilango sir & all...have a happy weekend
Much more tough fight waits above that 4810 level for bulls, there is 50 ema @4827 and now 50% retracement of 5182-4538 almost coincide with ema 20 around 4860-70, above that 61.82% retracement 4935 almost coincide with historical resistance 4935 (+15 or -15). Only a long and strong global cues can save the bulls. But bears r still waiting for a chance. . one last chance. .
In this scenario, SHORT TERM TRADERS MUST BE MORE CAUTIOUS TO HOLD A OVERNIGHT POSITION.
Mr.Ilango,
I do have several doubts about mkt movement during mkt hours and wanted to clarify with you like several friends do here..but what i personally feel is that your pre-market view and the charts make everything clear and gives various possible scenarios..one should read them carefully and take decisions depends on their risk appetite and pocket size..by switching to different mood as and when mkt surges or falls will end up in a mess only..
i really admire the way you respond to each and every query and thanks for the same...
eager to travel with you by learning everyday!!
with cheers
Krish
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