For follow up price action, there is a good support @ 5065 and good resistance @ 5160.Tomorrow's Pivot is 5140.
Bears were able to keep the close below "Day High ema" inspite of the averaging.
Hour high ema-5159 & Day Low ema-5056 are the numbers to watch.
12 comments:
dow at an imp resistance.
reliance and ongc at also critical zones.
seems it will be a good fight betn bulls and bears in coming days.
(REPOST)
Hi, Dinesh, Bizagra & H20,
if possible, I'll open a temporary yahoo a/c in future to help traders like u. (I know there r many).
There is a little problem:
As soon as I open it, I'll be fully involved with u. Bcoz, I HATE TO LOOSE IN ANY CASE.
I calculate all trades in points only (as per 5 lot). And my fevourite cycle u know 1000+ in 3 month.
Whenever I decide(able to donate that time), I'll do it for all traders (any one) for 3 month (not more than that).
OFF COURSE COMPLETELY FREE.
Till that date wait. (I am seriously considering it). Let’s see what happens!
---------
But, if that day happens, I'll not tell u (LIKE ALL Cheaters):-
'The recomendations are an information service only. Recommendations, opinions or suggestions are given with the understanding that readers acting on this information assume all risks involved. The information provided herein is not an offer to buy or sell securities of any kind. We do not assume any responsibility or liability resulting from the use of such information, judgements and opinions for trading or investment purposes.'
[ABOVE IS COPIED FROM A Cheaters SITE.]
I will say:
I HATE TO LOOSE AT ANY COST & UR CAPITAL IS JUST LIKE MY CAPITAL. [Bcoz I started with 3 lots of mini nifty only, I know what 'capital' means.]
I'LL TAKE THIS AS MY CHALLENGE (THAT DAY).
Till then wait..
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Happy Trading with beloved Ilango as always.
Dear Ilango,
Counting the EWs, the previus top at 5179(5180) was minor wave (iii) of major wave 5 of the past 9 months up move. The correction from this top to the level of 4539 was minor wave (1v)of major wave 5. The current rally from 4539 is the minor wave (v) of major wave 5. Now within this wave (v) of 5, there will be five minute waves. on 25th Nov. we completed minute wave 1 at 5145. Then we went into minute wave 2 at 4806 on 27th Nov. From then we are into minute wave 3 of the minor wave (v) of major wave 5. Considering the facts that the wave 3s are swift and bigger in magnitide, we may shoot out from the barrier of 5200 NT and proceed to 5300+ in incoming week itself. After this we may go for some cooretion in minute wave 4. Then the final journey on minute wave 5 of minor wave (v) of major wave 5. Here we should end the recent bull market in the regeoin of 5400-5500. Then the big coorection comes leading NT toward 3500-4200 band (62 or 38% corection) for a perois of 4 to 6 months.
I need you comment on my wave counts and your view on the possibility of occurence.
Thanks Hemanta,
We will wait for that day. Best of Luck !!
Dear Hemanta Sir,
I want to know your views on the market every day alongwith Ilango-sir. Will you please tell me ways to know that. My mail id is konchati@yahoo.co.in.
Regards.
hi Ilango & Hamentha,
In tech table how to update blog data. i am easyly update hour, day and week data only problem in blog data update, pls help. thanks
c.v.mahendiran. my mail ID cvmahendiran@gmail.com
Thiru Ilango, thanks a lot on your response to my comment on your previous post.
I don't have any words to appreciate your help to the people who are visiting your blog. It is indeed rare to find somebody like you who is helping so many others so that they can learn technical analysis and trade.
It is indeed a fantastic work. Keep it up my friend!.
Dear Sirs -Mr. Ilango and Mr. Hemanta,
I really dont find words to appreciate your selfless service. hats off to both!!! I would be priveleged if Mr. hemanta could include me too in his list of people to help! Looking forward for your word Mr. Hemanta.
Sir,
Today as I had important work I could not trade and so missed both long and short trade. Can I go short tomorrow? If so what could be the stop loss? please guide me!
Sir I had trouble in updating the excel sheet can you clarify it? I have sent a mail in detail regarding my doubt. Please Clarify!
dear Ilango/Hemanta
I am sure this is the best blog available in net for day trading nifty.
I had been following your site and made some money and sometimes unable SAR and loosing too much.
I am sure so many small investors/traders who r trading with small amount in minifty's are benefitted with your blog.
I loose because of my own foolishness.
I recommened you to start a paid service for small investors with a nominal fee of 500-1000 rs which we can afford.
I know that you are not intrested in paid service . i suggest you to use this amount for donating to some orphanges or sponsoring some disabled kids.After all money is money and if we can benefit from your service we will be more happy to donate something through you .
Dharmam thalai kakkum-thiru valluvar
thanks
Abu Fazil
Hi..Rajvada,
your EW count is a clear possibility if you take it from Oct.08 low and it looks so in the "log chart".
My EW is from the Mar. Low of 2539 with an "ABC" kind corrective.
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