After the intra day bounce, Nifty will seek lower levels to 5015 or 5005.(5 week ema).
Any fall below 5005 will take Nifty towards the gap area 4955-4975. If the fall is not arrested @ 5005 or @ 4975, deeper correction will follow.
Tuesday, December 8, 2009
Nifty Premarket View
Depending on the Asian Mkts, the intra day bounce may get restricted to 5065 or 5075 or 5080 after a gap down.Gap down may find supports either @ 5035 or 5020.
After the intra day bounce, Nifty will seek lower levels to 5015 or 5005.(5 week ema).
Any fall below 5005 will take Nifty towards the gap area 4955-4975. If the fall is not arrested @ 5005 or @ 4975, deeper correction will follow.
After the intra day bounce, Nifty will seek lower levels to 5015 or 5005.(5 week ema).
Any fall below 5005 will take Nifty towards the gap area 4955-4975. If the fall is not arrested @ 5005 or @ 4975, deeper correction will follow.
Elliot's Impulse waves.(Part-5)
IMPULSE WAVES :- The Basics Waves that move the market in the direction of its main trend either up or down are called Impulse waves. 1....
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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 ... -
Will not be available to intra update . Suggest one of our readers to update on DHEma-HHEma-HCEma & HLEma for possible support points fo...
47 comments:
Hi ilango,
Good Morning, what will be aggresive trade?
hai ilango sir ,this is corective wave as it stays above 4995 am i rit sir ...and shall i take intraday short at 5090 level ...!and if supose wat will be the stoploss !
Dear Sir,
If nifty goes above 5090 thn we should go long or remain short???
I have open position for short @ 5070.. what should i keep my stoploss??
Good morning sir,
yesterday you had mentioned that stoploss for yesterdays short is 5101 NS. does it hold good today also or todays resistance will be the stoploss?
Sir can U sugest about shorts ?
Hold them or SAR
Plz also sugest levels.
ANy body tell yt they r doing with there shorts?
Hi..
GM to all.
As long as NS stays below 5113, sell on rise continues.
More weakness only if it falls below 5080.
"ORB" is giving a buy.But intra TA is @ OB area.
If it does not clear 5113 in the next 15 minutes, One can sell.If not buy on declines upto 5080.
Thanks for your guidance sir. In case it breaks above 5113 then is it only a stoploss or stop and reverse?
hello sir ,watz 5113 do u mean R1 5115 ...and i didnt understand this line " If it does not clear 5113 in the next 15 minutes, One can sel"does it mean if NS doesnt cross and stay above 5113 level we can sell ...?
Hi..Satheesh,
For the conservative Trade, we should keep the S&R @ 5131.
For the intraday trade, for shorts, the SL may be 5113.
hi..d.a,
It is very clear: As long as it stays below 5113, sell on rise continues.
If it clears 5113, then buy on dips for the day.
I will keep 5107 as the "Opening range Breakout" high.
Hi DA,
It means if NS not go above 5113 in 15 minutes, then u can sell with SL 5113.
Yes..Dinesh.That is correct.
ok dinesh gupta wat is 5113 level ...thats wat i dont understand ...is it 1st resistance or 5 day avg !
dear Sir,
Why only 15 min & not 5min or 30 min.??
you mean to say that in min chart it will turn in -ve divergence / weakness if it stay below 5113 for 15 min?
Because i heard this many time if nifty doesn't cross particular level in 15 min..than this has to be done..!!!!! i just want to know that you are saying this with reference to your min. chart?
Sir Ilango,
Thanks for your guidance.
Now its more than 15 min and has not crossed 5113, so I sold 5 lots Nifty at 5100.
Please Guide.
Thanks again.
Sanjay Jaiswal
hi..dare,
it is really very simple.
Intraday charts are in "OB" area. If it continues to climb, then the upmove is not of corrective kind but a new upmove. A corrective will turn down from OB area.
5113 is nothing but 5112.45 high made at 1.00PM yesterday before the deep fall to 5051.
I hope this make it clear.I have no 1 min technicals. Mostly follow "Yahoo intra". Occasionally do 5-min TA.
Watch the closing at 11.00AM.If it closes above 5097(Hour High Ema), then bulls are gathering strength.
Dear Sir,
thanks for making the technical explanation in so simple language..
I was just wondering that there is any magic behind 15 min.or what so that i learn that also.ha..ha...
thank you very much once again.
Sir Ilango,
Thanks for making it simple for us. Our SL for short stands at 5113, if closes below 5097 (hour high), then our shorts are safe.
Sanjay Jaiswal
Sir, Lots to learn more from you. Keep going. It is very interesting
Sir where should we book our shorts ?
Sir its 11.00 Nf spoys ayt 5089 levels. Do we think that our shorts are safe?
Hi..Sanjay,
Shorts are safe for the time being.
Trade below "5083" pivot will bring some confdence.
Trade below 5051 will bring good profits.
As it is of corrective nature. Keep booking partial profits and bring down your SL as Nifty moves down.
Please do not disclose your positions to me. Let me just guide you all as a neutral player not biased by your positions. That is the only way you will get Truth from me.
And the SL is now the day's high NS 5107
thank u ilango sir ..now iam clear ...and now wat will be the support that we shud take ...and if the market bounce 4rm 5080 will it form h&s pattern and if it breaks 5080 angain it will touch todays low ...5051 level am i rit sir
all asian markets are down so more chances 4 nifty to move downside na sir
Just trading above the Pivot of 5083. Breakdown only below 5083.
Sanjay Jaiswal
Not much call addition is been seen, but Puts are being added on 5000 and 4900 level.
Although 5200 call have a huge OI.
hi all
nifty making lower low & lower high last four days i think 5107 sl for short & long position open above 5107 with t-5135-5160 .till hold short.
thanks
I am revising the S&R for Conservative shorts to 5107 instead of the earlier 5131.
"Prosenjit's info on OI suggests of a reversal possibility.i.e..the correction for the upmove from 4807 to 5182 is over @ 5051.
sir...sorry to ask again..but any post for drawing those charts in way you do in excel...
Hi..Shaq,
When I send the "File" I am creating this week end, it will have macd, stochastics chart for a trader's exclusive use.Those charts will be the same what I use.
The more one is consistent & balanced with that file, errors are reduced. One can wait patiently for good trade set ups or play with a clear plan of an expectation from each trade..big or just skimming small points.
ok sir...plz can send me the file at saif_shakeel@yahoo.com...the charts which you put here are very neat and different..I just thought if we could know how to draw them in excel sheet on our own,then we can import data for diff time frames and then do it when needed...
Dear Illango Anna,
I believe you, Hemanta and others should write a book and compile on how to look in to the Technicals of trading, for beginners and experieced. So that it will be useful for everyone who is interested to learn more on the concepts.
Will this workout?
Let me know your comments.
Rgds,
Vinod
Excellent suggestion by Vinod
Sir,
Now what to do, just touched 5107
Sanjay Jaiswal
Dear Sir,
In the morning you said that intra TA is OB..
than i think it might be difficult for nifty to cross 5107/5113..is it???
Sir formed a double top intraday, and retreated
Sanjay Jaiswal
Hi MarketPlus, Hi Dare,
ilango gave us levels, u have to trade that levels, why u people panic when it near SL or hit SL, why u people ask everything from ilango? Just trade and put SL and when it move trail ur SL and keep booking part profit.
Happy trading with beloved ilango.
Hi Ilango
It seems Inverse HNS on 5,10,15 & 20 min chart of NS. Kindly check on your side. Tgt comes to 5155-5160 on breaking of neckline.
Regards
Amit
hi dinesh...
we are new traders...atleast i am..
I am learning from him and not asking question for buying or selling nifty..but trying to understand how he is predicting or how his thinking is different from mine..
thats' it only... i am just not interested in trading only.. but trying to think as my GURU thinks..
hope u can understand the feelings and fear of new traders..
Ilango sir,
1. please add my mail id sriganeshh@yahoo.com also for Excel TA charting file.
2. As suggested by Vinu, if u compile or write TA book in simple language, it will help many many..I am sure, by god's grace, very shortly we will see your book.
thanks for all your help
sri
Sir it will be very useful if you can post an article about how to calculate the corective levels(i.e) as you mentioned earlier that the correction is to be over for the upmove from 4807 to 5182 at 5051. It will be very helpful for learners like me. Hoping to see the post soon
Hi..Sanjay,
Reduce your shorts.The moves are a bit choppy.
Only below 5090, it will show weakness.
Ok, Sir and thanks for taking so much pain to talk directly to me.
I have covered some at 5085, and rest I will cover now.
Thanks
Hi Ilango
Kindly send me also that file for excel TA charting on voramit@yahoo.co.in
Regards
Amit
Dear Ilango,
This site has the max comments I have ever seen, congratulations, yes I support the view that you write a book on TA.
Best Of Luck,
Regards,
Sudhin
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