Hi ILango Sir, Many people might have miss the conservative trade. Market may correct on Tuesday as RBI will increase CRR rate may be Repo and reverse Repo Rate too and market will react negatively to it. For them, is it right to go long between 5085-95,5120 with stoploss of 5048. Target 5260-5300+.
hi, ilango sir, what is ur view for positional nifty for tuesday as we r near for 1st time close above 5150 for 2009, and long holidays. And tuesday rbi repo rate cut. i have long from 5015 , booked(1/3rd) part yesterday at 5140. As for overnight postion no stoploss possible if market opens a big gap down. Can i book full today?
If this sideways correction continues and Nifty comes down again as part of this correction, Nifty may be bought in "part" around 5100(+/-) and again if it comes down upto 5080.
If it clears 5185-5200(It may then have completed a 5 waves), then they should wait for these levels or lower.Will update on that later.
I mentioned in the earlier post at 11.00AM that Nifty may correct upto 5125 but the low came to 5129 and it has resumed upmoves.
You have to have these rates ready to initiate the conservative trades. As I was busy with "educational posts", I mentioned in the comments to close the conservative shorts @ 4960. As the same was not mentioned in the Pre-market, I maintained the "Shorts" and closed it yesterday and initiated a Long.
Such a strong upmove - One can hold the positional Longs. Part booking around 5200+ is alright as some kind of corrections will be due after this big rise.
Mr Ilango, I wil be looking forward to your weekend analysis, since we are at a strategic juncture. Would be technically interesting & informative, the coming week, :) Moh
Market is in a 'bubble' zone. If the finance minister comes everyfortnight and says growth at '10%' in next 2-3 yrs, we may see nifty at 5800 shortly, all technicals will go for a toss. Ofcourse he may later come and say that 'errr I meant 10% inflation not growth' ...
Hi, I am sure Nifty extrimly over brought postion, It is very risk to keep trade on the long side.. Sure Tusday have to come down irrespective of US Market.. If Govt. change the CRR and Intrest rate then market will crash like any thing 200 points in Nifty.. It is my view may be wrong also.. Thanks, Anandan.R
Mr Ilango Also, i wish to ask you a tech question, if it is okay. Hope it is not unrelated to this forum. ie. In my intra graph, the present setting is Stoch 5,3,3. It makes quite an amount of whipsaw. I tried different parameters, but not entirely happy with the results. Can you suggent Stochastic & WilliamsR parameters for Intra 1 min, Intra 5 min, Intra 15 min, Intra 60 min. Thanks with regards Moh
Marry X'mas. Your views are appreciable and helps beginners to understand market. As today market has closed above high ema, will the trend continue on tuesday or there will be some corrections.
Check the Tech. file and see how the stochastics setting is (5 days x 7 hour a day = 35 hours) and if that helps, then change to that setting for 60min. For 15 min, multiply the setting by 4; for 5 minutes by 12 times and for a minute by 60 times.
hi Mr Ilango, Thanks, I will take the settings from the spreadsheet, and try it out.
Can i sent you a testmail to get the latest excel, sir, i could not update the earlier one since my brokersite was giving log problems and the Hourly chart datas where improper on days.?
Dear Ilango, I wasn't there when you asked the close. Anyways, the TA is intact with a close of 5178+.
Dear Moh, The exchange adjusted final close is always last 30 minutes average. By about 3.20 pm, if you're watching the 30 MA on 1-minute chart, you will know almost exactly the closing price.
31 comments:
ilango sir 4th wave is .68 of 3rd wave, am i right ?
It can be as shallow as .236 also..
Hi ILango Sir,
Many people might have miss the conservative trade. Market may correct on Tuesday as RBI will increase CRR rate may be Repo and reverse Repo Rate too and market will react negatively to it. For them, is it right to go long between 5085-95,5120 with stoploss of 5048. Target 5260-5300+.
Regards,
Ashutosh.
hi, ilango sir,
what is ur view for positional nifty for tuesday as we r near for 1st time close above 5150 for 2009, and long holidays.
And tuesday rbi repo rate cut.
i have long from 5015 , booked(1/3rd) part yesterday at 5140.
As for overnight postion no stoploss possible if market opens a big gap down.
Can i book full today?
new high achieved...call writers still not budging at 5200 though..
If this sideways correction continues and Nifty comes down again as part of this correction, Nifty may be bought in "part" around 5100(+/-) and again if it comes down upto 5080.
If it clears 5185-5200(It may then have completed a 5 waves), then they should wait for these levels or lower.Will update on that later.
I mentioned in the earlier post at 11.00AM that Nifty may correct upto 5125 but the low came to 5129 and it has resumed upmoves.
You have to have these rates ready to initiate the conservative trades. As I was busy with "educational posts", I mentioned in the comments to close the conservative shorts @ 4960. As the same was not mentioned in the Pre-market, I maintained the "Shorts" and closed it yesterday and initiated a Long.
Hi..Indian,
Such a strong upmove - One can hold the positional Longs. Part booking around 5200+ is alright as some kind of corrections will be due after this big rise.
Thank u very much ilango sir.
I have updated the chart & table in this post.
i m a first yime visitor..but very gud lvls..
ilango sir, can we expect any correction now as per ew.
After another high, it is likely to end a 5 waves. A correction may be possible on Tuesday.
Hence, advised to Part Book. There are other possibilities too.
Mr Ilango,
I wil be looking forward to your weekend analysis, since we are at a strategic juncture.
Would be technically interesting & informative, the coming week,
:)
Moh
Loooks like 5th wave reversal started
Hi..Janki,
If you are reading it, let us know whether Nifty will close above 5176 to keep the TA perfectly intact.
hi Mr Ilango,
market closed below [ 5171.85 ]
** TO your reply to janki **
Whats the implication sir, for close below 5176 ?
with regards
Moh
i THINK IT CLOSING EXACTLY AT 5176...HOURLY ()HIGH - 5 EMA
Market is in a 'bubble' zone. If the finance minister comes everyfortnight and says growth at '10%' in next 2-3 yrs, we may see nifty at 5800 shortly, all technicals will go for a toss.
Ofcourse he may later come and say that 'errr I meant 10% inflation not growth' ...
Hi, I am sure Nifty extrimly over brought postion, It is very risk to keep trade on the long side.. Sure Tusday have to come down irrespective of US Market.. If Govt. change the CRR and Intrest rate then market will crash like any thing 200 points in Nifty.. It is my view may be wrong also.. Thanks, Anandan.R
Merry christmas & Id
to all of friends here & ilango sir.
Nice 4 day long rare wk end holiday for nifty traders!
Dear All,
Innocent till proven GUILTY. This is how we need to treat a market, if the wave is innocent lets not read too much into what everyone thinks.
I think last friday i was discussing here how on a rising $ if a market is not falling, then clearly longs should be KEPT.
Yesterday morning also the reason to post to keep longs was i read few PCR data posts, i hope it was helpful.
Wishing dear readers a Merry Xmas.
Regards
Akash
happy christmas ilango sir and to all here ,
@Indian its not Id...its a muharram on monday
Hi, ilango sir,
I Must Say, one thing..
one day ur one comment here that:
'Market is continuous..'
has changed my view and trading style completely, more +ve & more profitable.
My exp is only 1yr+, but with ur (& others) view beginners like me r learning fast.
---
Sorry shaq pls don't mind.
Happy christmas and muharram to all.
Mr Ilango
Also, i wish to ask you a tech question, if it is okay. Hope it is not unrelated to this forum.
ie.
In my intra graph, the present setting is Stoch 5,3,3. It makes quite an amount of whipsaw. I tried different parameters, but not entirely happy with the results.
Can you suggent Stochastic & WilliamsR parameters for
Intra 1 min,
Intra 5 min,
Intra 15 min,
Intra 60 min.
Thanks
with regards
Moh
hello ilango,
pl send excel file to my mail ID tsrini74@gmail.com
thanks
T srinivasan
HI Ilango,
Marry X'mas. Your views are appreciable and helps beginners to understand market. As today market has closed above high ema, will the trend continue on tuesday or there will be some corrections.
Regards,
Panduranga.
Hi..mok,
Check the Tech. file and see how the stochastics setting is (5 days x 7 hour a day = 35 hours) and if that helps, then change to that setting for 60min.
For 15 min, multiply the setting by 4; for 5 minutes by 12 times and for a minute by 60 times.
Experiment it to get a better result.
hi Mr Ilango,
Thanks, I will take the settings from the spreadsheet, and try it out.
Can i sent you a testmail to get the latest excel, sir, i could not update the earlier one since my brokersite was giving log problems and the Hourly chart datas where improper on days.?
Have a nice weekend, and a merry xmas!
Moh
Dear Ilango, I wasn't there when you asked the close. Anyways, the TA is intact with a close of 5178+.
Dear Moh,
The exchange adjusted final close is always last 30 minutes average. By about 3.20 pm, if you're watching the 30 MA on 1-minute chart, you will know almost exactly the closing price.
Merry Christmas and Happy Holidays to all!
-Janaki
HI ILANGO,WISH HAPPY X-MAS
hi janaki
thanks for your reply,
learnt something useful from it.
have a nice weekend,
and, a merry xmas.
with regards
moh
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