Updated @ 11.44AM
Weekly ema @ 5042. Action will center around this area.
5000-the channel support is held..
Trading a long from there towards the resistance point...
Wednesday, December 16, 2009
Nifty Update
At 3.05PM: EW spotting with a pre-plan helps you navigate thru' the day.(This is the alternative scenario in "Blue" in Premarket view).
Updated @ 11.44AM
Weekly ema @ 5042. Action will center around this area.
5000-the channel support is held..
Trading a long from there towards the resistance point...
Updated @ 11.44AM
Weekly ema @ 5042. Action will center around this area.
5000-the channel support is held..
Trading a long from there towards the resistance point...
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:
Is it heading anywhere Ilangoji? Where will you close your Short (5125) ? Will 4990 trigger buy?
Only two people may know the answer. Market and Ilango. Let's see friends, who answers first.
Warm regards,
S Rajagopal
Hi Guys, Mkt is going to be up in the after noon section, Force to short covering,,, when short covering happens, then market will go up atleast 50 points.. Close your short around 5020...thanks, Anandan.R
Hi..Rajagopal,
We try to present the probabilities and trade those favourable trades. Market teaches us all the time.
What I do is : trade the shorts by long near the low levels and short again @ resistance levels and reverse it only when those critical barriers are breached.
Oversold Hourly sets up an intraday rally. As channel support has held which also happens to be the 50DMA...a long trade..
Hi..Prosenjit,
How is the OI positions. Is 5000 building to be a good support.
Keeping a SL of 5024 for the longs for higher targets.
sir ...today 5100 CE alone has added nearly 10L ..so that has now crossed 70L along with 5200CE(where OI is at 75L)..and yes 5000PE has some 58L...so looks like nifty is now locked btw 5000 and 5100
Thanks Shaq.
Ilango, stops hit for long...should we short now or only on break of lod?
5024 was not breached..
SL changed to 5020NS
now it breached :)
Sorry ilango sir I did not noticed.
5100CA added 6.9L so far, and also 5000CA added 4L so far.
5100PE added 0.5L in OI.
I covered my NF long @4035 and bought more 5000PE @88... now 99.Also bought 4800PE @33 to carry although small quantity.
Hi Ilango
I belive before Europe opens they will trigger SL of all longs around 4980-90 levels and might take the markets higher from there.
Thx for the excellent excel sheet.
Regards
Akhil
Thanks Prosenjit & Akhil
Hi Illango & Prosenjit,
I can see sig addition of 3.5 lacs at 4900 PE.
Hi Ilango.
Nifty has broken down an upward wedge...this makes 5045 a resistance and a stop loss rich zone which will be targetted firs before resuming down move
sidharth
ka,
Nifty is not going to free fall.The next lvl of resistance should come arround 4900-4920 after it breaks 4972-4960.Thats why 4900PE is adding PE.Rather look at 5000 lvl where PE which were added in the morning is covered and now 5000CA added approx 4L in OI.
Dear Ilango sir can u sugest to go short again as Nf breaches 5020 levels?
hi..musti,
Morning view still holds.
5000 has held. A choppy bounce is on towards 5050-5060 now.
Trendline resistance at 5045 touched as expected next lower pivot at 5025 if breached a big fall.
Sidharth
Thx sir i exit with just 12 points loss on my short trade.
Again where to take short position Plz sugest.
Hi Ilango
Thx for excellent sheet once again.I bought nifty at second hrly support and sold it at 5062.
Cheers
Akhil
musti, take short position anywhere between NS 5165 and 5175, SL = 5090
hi..musti,
Morning levels still valid. Selling level is 5070-5085..with a sudden premium Nifty was available to sell in the resistance area.
Musti,
sorry. Typo error. I meant to say
musti, take short position anywhere between Nifty Spot 5065 and 5075, SL = 5090.
"December 16, 2009 11:58 AM
Anandan said...
Hi Guys, Mkt is going to be up in the after noon section, Force to short covering,,, when short covering happens, then market will go up atleast 50 points.. Close your short around 5020...thanks, Anandan.R "
Hunch or Tech - so far u r proved right. Good guts to declare light at the tunnel end.
Regards,
S Rajagopal
Ilango, should we carry shorts for tomorrow or exit out?
A 3.00PM close below 5052 will keep the bears active. A close above that will give the bulls a short term boost.
Day's close above 5042 will neutralise this down fall for the short term.
This , more or less, fits the description of a "two way move possibility" suggested in the Premarket view based on EW study of short term moves.
Hi..Rishi..
To carry shorts..? If you are in good profits, you may opt to book out if Nifty moves closer to the lower levels. OR If the close is below 5042, carry it over as technically(day) the downtrend is still on.
Thank you Ilango. will monitor the close carefully.
Just a word of caution.
How does one know for sure whether we close above or below 5042 ? The averaging after the market close can upset our calculations.
KKR, forget the calculations...just go by whatever price you get in the last 3 minutes..
Have u ever felt like a Phd Prof teaching Pre-KG kids Ilango ?
(At 3.05PM: EW spotting with a pre-plan helps you navigate thru' the day.(This is the alternative scenario in "Blue" in Premarket view).
It will not close below 5042..
HATS OFF, Ilangoji.
My position..... 5000PE bought @87 and 5100CA bought @72.... 2:1.
Also holding 4800PE @25 avg for 4960-4920 in comming days.
Option data showed some put covering in 5000PE at the end but the 5100CA added approx 7L in OI. May or may not see nifty abv 5080 this week but it may test it.
I will better be doing sell on rise.
If Fed keep the rate unchanged then no issue as its known and is discounted, but even if Fed gives singnal of rising rate in near future 81 in dollar index is comming in few days.
last 30 minutes average (30MA on 1-minute chart) gives you almost the closing price. 30MA on 1-minute chart is 5042.75 and the closing now is 5042.05 :-)
Sirji,
From where do I take the open price to fill the table in data hourly sheet
Strike Change in OI Total OI
####################################
5100PE -462900 3071200
5000PE -116350 5415900
4900PE -89350 4525350
4800PE -1500 4511050
5000CA 334250 3808350
5100CA 604300 6921100
5200CA 165950 7441600
5300CA -34300 4826800
Looking at the abv figure, dont think we will see 5100+ in Dec.More over 4900 may not provide much of a support on fall.
llango sir plz share with me the excel file .. my mail id is hemantmandhare@gmail.com.
thanks in anticipation,
hemant.
Hi Prosenjit
I guess rising prices with decrease in OI suggest trend is becomming weaker and people are booking profits.
So If above statement is true I am expecting markets to open in green tomm..
Ilango - Somehow I am struck with a Call in Reliance.Can you please post ur views on reliance on your other blog.
Cheers
Akhil
Hi Prosenjit....The huge covering in 5100 PE at the end almost ratifies your point tht market would not breach 5100 in Dec. Its almost certain now.
But, market has its own ways.........lets wait and watch
your comments plz.......and prof. Illango sir's too is awaited.
market to start at 9 AM from Friday !!
Akhil,
I never said it will tank in opening, rather I am expecting a bounce in the morning may be till 5090 even.Thats the reason I am holding 5100CA along with 5000PE.Plan is to book call profit and add more puts. I thing I am sure of after breaking of 4990 I will not sell 5000PE :)
btw i forgot to mention tonight may be the night of the "MAN OF THE YEAR" :D Ben Bernake
Lets wait and see what he says.
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