At 1.15PM: Intra correction may be over..
Hourly Broadening form may be complete.??
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...
19 comments:
Ilango
you mean markets are heading up or down after this correction??/
GA Ilango Sir,
Your efforts in updating and your prompt answers to many readers quieries have helped silent readers like me.
Everytime I visit your blog, I promptly click on the ads that appear here as my appreciation.
Would you post your views on Nifty for the coming few months, if possible.
kalpana
Hi..fritzroyreport,
If it can hold 5120, upsides are possible.
2.00PM Hourly close may have some clue..
Hi..Kalpana,
Thanks, I will post the same this week end.
Sir going short for tomorrow will be safe bet?
I plan to short @ 5140.
Plz sugest
Dear Mr.Ilango,
I am the learner of this market,
in this process I need ur help.Can u ple.sent me the excel sheet and the procedure.
THANKS FOR THE SERVICE U R GIVING,I have undergone ur old posts and mr.Hemanta also,its given lot of information
Thanks my id. mohanthillai@gmail.com
Thanks
RAJ.
hi..Musti,
The shorts recommended are for intra day only.
It is possible market has made a top & will fall. It is also possible that after a brief correction, it will continue the upmoves.
As there is some uncertainity involved, play it safe.
Hi..Raja,
Thank you. And I will send them tonight.
Hi Illango,
I am also the new learner for this market.
Will u please send me ur excel file with procedure.
My id is ggn.chawla@gmail.com
regards
Gagan Deep Chawla
Sir,
I am also awaiting the excel sheet mu email id is ask1255@gmail.com
Thanks
Sir kindly send me also your excel sheet and my doubt is till what levels does nifty daily uptrend remains? my mail ID is sath95@gmail.com
Hi..Satheesh,
There are so many trend going on simultaneously in Nifty.
Weekly trend: Up - as it trades above & closes above 5-week ema/5 wk simple avg on every Friday.
Daily trend: Up - as it trades above & closes above 5-Day ema/5 DMA everyday.
Hourly trend: Weak & sideways - as it trades below & closes below 5-hour ema everyhour but not below Hour low ema..
This is a simple parameter. You may combine this with:
A. Channels of various time frame
B. Directional indicator - Macd
C. Elliot wave forms & completion
D. Higher High & Higher Low OR Lower High & Lower Low.
HELLO SIR,
I AM WATCHING UR BLOG FROM LAST MONTH.ITS REALLY SUPERB.I AM ENJOYING NIFTY TRADES WITH UR GUIDENCE.THANKING YOU FOR GIVING SUCH A GUIDENCE.SIR KINDLY SEND ME TOO UR EXCEL SHEET WITH USING PROCEDURE FOR FURTHER TRADING.MY ID : TRADINGTAMILAN@GMAIL.COM
THANKING YOU.
Hi..Raja,
Thank you.
New thought for you:-
'Trading is against human nature,’ and ‘Future market data reflects the human nature’.
All risk taking is associated with two human conditions:-
The greed for profits and the fear of losses. The ability to strike the right balance between fear and greed is the most vital determinant of profitable risk taking. Human nature operates on the chance of a gain rather than maximizing gains.
The good traders always go against human nature and leave the others alone.
For example:-
Livermore made four separate fortunes and caught the crash of 1907 on the short side: He made over $3 million in a single day. In the market Crash of 1929, he made over $100 million.
Livermore was not a fundamentalist in his trading approach—he was a true technical trader. He believed that the technical trading of stocks, recurring numerical and chart patterns are nothing more than the graphic reflection of such human emotional behavior as greed, fear, ignorance, and hope. Livermore knew how to recognize these recurring patterns and made several fortunes as a result of this knowledge.
“Wall Street never changes,” he said, “because human beings never change.”
[I m still holding my positional long created @5005. Stop loss increases @5080. Primary target around @5200(+20/-20), lets see what happens. It is always better to react with the market than predict.
Today’s market movement is just like a consolidation pattern in broader range. See, Ilango’s hourly chart.
If anyone see the future market data now: it is –ve (human nature).
Try to set ur goal for 3 month (say 1000+pt) and if u reapeat 3/4 cycles successfully. Believe me, u r a great trader, may be a future billionaire!]
Happy Trading with beloved Ilango.
Sir,
Thank u very much for your explanation.
Hi Hemantha,
Thank you for your reply and above write up. Looking forward to receive your guidance here.
Best Regards
Dear Mr.Hemanta
(mr.Ilango sorry to reply Mr.Hemanta in ur Blog)
Newly I got this blog link,and wants to see al the older posts,Found ur reply for others, many reply from ur side were informative.
Its reveals that u learnd lot and made your own strategy and u r enjoying trading as a passion and not like just gambling.
Yes I wants the same,ok Today mr.Ilango is helping us,but not for life time.Most of the paid sites are available I tried some but
nothig to learn.just giving entry level and exit most of them hurdle to success even 50%.
So,I decided just following for the tips is not going to give any joy.
I have started to do in mininifty with 100 points(5lots)And I also opened a/c with RKG for this purpose.First of all I tried to do with 15 points and multiple trade.Its helping me lot.Now my position is I reached the stage that I can't make any loss more than 2k and my profit also can't morethan 3k with this five Mininifty.
I had lost much in 2008 fall.hope that childishness NOT TO BE CONTINUED
Time to time I am investing in selected scrips and rotating after 25 to 30% profit.
Hope Mr.Hemanta and Mr.Ilango (even some othr from this blog)is helping like me to learn the market.
HOPE WE WILL MAKE OUR OWN STRATEGY,WILL DO PAPERWORK ON THAT AND ENTER IN REAL TRADE.IT WILL WIPEOUT THE FEAR.NEXT COME OUT WITH SMALL PROFIT.
SMALL PROFIT ENSURES THAT UR CAPITL IS SAFE.AND IT IS IMPORTANT FOR FURTHUR RESEARCH
THANKS A LOT.
RAJA
Hii Hemanta Sir, thanks for yr guidence. When i see my last two positional trades, i would hav gained 100 points in one and 200 points in second, but i ended with sl hitting in both. I problem was wrong money management and not part booking, as u pointed out.Thanks for this and waiting for more guidence from u.At the moment i m on sidelines and waiting for correct direction to enter.Can i hav yr email id plz.
Anuj Agarwal
Thank u all! I am forwarding all these thanks to Ilango.
Happy trading with Ilango as always.
I have started following this blog for 10 days now. The kind of information being shared by some of the particiapants like Hemantha along with great Ilango is superb.
My view on Market: Market normally fools the heards , this means whenever there is concensus call of majority, it goes the other way. Right now at 5000+ I have seen many players are expecting significant correction. This type of consunsus call will lead the market higher primarily due to SHORT COVERINGS at some point of time. Then everyone will become bullish. This will be the first sign when market has potencial of major correction. Why market is not coming down from this levels, there are two reasons at present. The one and the foremost is the continued weakness in dollar. The other is the good GDP numbers we got for the last quarter. I expect this to go for 3 to 4 weeks seeking market the higher levels
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