It gives a "Bearish" scenario..
Exit longs @ 5110-5120 zone & SELL with a SL 5145..
Strength will return only on a consistent trade above 5121(Pivot)
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...
45 comments:
Hi ilango,
GM, what will be aggressive trade today?
Hi..Dinesh,
As Nifty is in uptrend, with negative global cues, look for buying opp.. and Nifty gave 5 day ema (5110) at the open.
5142-5148 has been the closing resistances...a sell here to day's pivot @ 5121 may be a next trade...Or simply trail the longs with SL..
5161 will be a big resistance.
HiIlango,
I wanted to back test trading method based on HIGH,LOW and 5 Ema.Can you share with me the excel template which would calculate these levels.
I can then use the historical data and go through paper trade
Sidharth
Hi..Sidharth,
You seem to be quite seriously applying yourself on the markets. All the best to you.
I will send you the file right away. Let me see if I have your mail id..It should be there..Yes, I have it.
Dear ilango,
You are extremely correct.5161 is the big resistance and up to 5200 will be a precarious journey.
good morning sir
i want to learn how to trade in market,pl. guide me ,my email id is gargyashok@yahoo.co.in
Dear ilango,
Though technically market is not getting stronger, bulls will have to keep their fights.
Hi..Gargyashok,
Please go through the links under "Always trade with these" section at the top of this blog. That will make you prepare for trading. Also some helpful write ups are there in the "Labels" section.
Follow the levels mentioned in the premarket view and follow the Intra chart provided by Yahoo. Link provided under "Market Statistics" section.
5000 PE has the highest OI so far and not much increase in CA OI also been seen, is it bear giving up here or we are in a false upmove, really confused with the way *market neglecting global* cue in month of *December*
Dear ilango,
Bulls VS Bears,two wrestlers are judging each other. At 3.30 pm. Result might come out, where it was a tie or someone win this battle.At present bears have upper hand.
Yes..Prosenjit,
It is quite challenging to trade. But I just emphasise the fact that Week is in uptrend but nearing "OB".5005(Week ema)is the strong support for
Daily after being in "OB" corrected upto 5052 and has reversed up but still stuck in a range of 5052 to 5162 which is a micro trading range.
http://www.livecharts.co.uk/ForexCharts/eurusd.php
EURUSD below 1.4700 ...... if it fail to find support @1.4654 we will see 1.4400 in may be couple of days.
Bears will like that as honey :)
Nifty Future added Approx.1300000 intraday OI.between 5111 to 5151.From here if nifty wants to go up then someone has to fresh buy or someone will have to cover position.let us see.
Good work, Mynac.
Nifty has stopped at 5 day ema as well as Hour low ema. If there is any reversal, it is from here.
"5100-5105" is the last support.
Ilango sir, conservative traders going short here???
If nifty will start to trade below 5090 convincingly bulls might leave the battle today. But still the fight is going on and 400000 OI has been covered between 5121 and 5090.10
Ilango sir, i m not having any trade at the moment, to short or go long with SL 5090?i m conservative trader.
looks like a false breakdown..w/o the bear trap they cant reach new highs i guess...
Hello Ilango Sir,
Is it the Pivot support @ 5187 to be watched now for the final support.
Hi..Bizagra,
For Conservative traders, we have kept 5090 as SL but it has not been breached.
Concerned traders may exit during this bounce @ 5120-5130 zone...OR trail it up with Sl by +5 points with every 10-15 points rise.
Conservative trades work well in a trending mkt. This is a sideways mkt..5052-5162/5181. So trade. That is why I have combined some trading in the "Conservative" also.
Ilango sir thanks for reply.As you said we are in sideways market. the levels to watch for trend are 5005 on downside and 5182 on upside ,m i right??
"5100-5105" is the last support. Fantastic prediction, Sir.
Please be carefull..Europe pointing towards a negative start..Fresh concerns of there bank exposure to Dubai Crisis.
Regards
Akhil
I have updated Tech Table...Presents a "Bearish" picture.
Raised the SL for longs to 5115 from 5090 now.
Market is very confusing cant understand which side it will move?
Sir 5115 IS a SAR or just sl?
No..musti,
I got confused for a while. I should just stick to the original plan.
Now, if it clears 5131, I will raise my SL to 5121
Sir at present I not have any position.
Yt I do I also not understand
Going long or go short?
All indicators are saying to go long but global cues are all negative.
Yt I do Plz sugest.
Hi..Musti,
Have the trading levels ready with you.
Know the trend or sideways nature of the market for both day & hour.
Trade with the intra chart.
Have you gone through the links under "Always trade with these"..at the top of this blog. It is a kind of reminder we need to read thru' every morning.
5200 CA added 8.6L in OI so far ....... but concern is no major addition in 5100CA nor covering in seen in Put, really confusing now.
Hii Ilango sir, if today remained below 5143, r we taking shorts home? These days taking shorts overnight are more comfortable than longs, as world markets are weak.
Hi..Guys,
I am leaving now. Take care.
Have shorts @ 5128NF. Will keep a SL @ 5133 NS.
As long as , Nifty closes above 5110, it is safe for bulls..as per simple TA. But Mkt doesn't look simple, though.
Bears are safer below 5121(Pivot) but need a close below 5110.
Trade safe..If you have no positions, good for you.We will get some good opps..soon.
Bye.
STOP LOSS FOR NEW SELL "5145?"
Ilango sir, what is the sl for ur shorts of ns 5128? Thanks in advance.
glad to see call in this format
"Have shorts @ 5128NF. Will keep a SL @ 5133 NS"
I hope this short will be conservative not agressive?
open position over night is too risky. Better to take profit and close
Hi,
I agree with BABU, remember ilango's world "We will get some good opps..soon...."
exited at 5109 for safer side..
EU down US Futures down.. still our market holding..
I think shorting nifty will not be prudent because this is the 4th attempt at scling 180.Most uninformed retailers on gut feeling will start shorting the moment price stalls close to 5150---60 levels.the majority needs to be embarassed for the market to survive.
sid
HI SIR PLZ SENT ME UR EXCEL SHEET
Sir,
Please send the excel sheet to sumitba@yahoo.com
I am reading your blog for a long time.
Regards.
Sumit.
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