Last time Nifty made a sharp reversal from 4807. Would it consider the same now. May be briefly or may be not, being the settlement day can be wild.. The weekly set up has now changed to a serious reversal.The settlement day will be a serious one with huge choppiness. Only the "harvesters"(Positional Shorts) will have it good. High volume selling could be of only delivery selling which may not attract rallies. Only if there are "shorts" in a big way, will it result in a sharp rally. As my critic puts it, "Stuck longs will come in to unwind on every small bounces to cut their losses".
There seem to be a positive divergence developing in hour charts but the manner in which it is developing(sharp falls) do not give it much credibility. A good +ve div should have an exhausting index/ stock where as Nifty seems to be sprinting fast..
The serious minded positional shorts may book profits either @ the multiple tops of 4700-4750 zone or when Nifty is able to close above the "Day Low Ema". Let me add this: this is not a foolproof reversal but a likely sign of "pause".
9 comments:
hi ilango sir...i dont hav any position now.wht shld i do??shld i wait for a bounce back or initiate a short if market open flat tommorow??and wht shld be the stop loss sir.
kind regards....
vicky....
hi dear sir ilango,
plz upadate the bank nifty TA and EW count on yr stock wealth blog
and also sir plz send me exel file of bank nifty at akanparia@yahoo.com so i am check my bank exel file that i am doing work in right way or not .
regards,
alpesh
It takes a man a long time to learn all the lessons of all his mistakes. - Jesse Livermore Even I remember his words - There is no need to understand why market is going up or down. Market going up and down is because of myriad factors. What is most important is to follow the right trend."
Oops.. Anybody guide me how to be in lighter side during trading hrs..as i am losing atleast 25-30% n my profit always :(
@Ilango - It's difficult to go for sleep like Robert Pretcher as i am a small trader.. shall i stay out?
@Rajagopal - I can't walk 6 Kms. in my tight domestic schedule..any other idea please..
Sorry for the Offtopic..
Regards
ilango sir,
How abt positive move by RBI on friday.Chinese dragon scaring everyone, Indian tiger atlest assure indian market.
4700-4500 is eminent but before that expecting some bounce toward 5050-5150 max.
sir if u counld bring finnoci concept and let us know how far the fall or retracement can be???
Dear Sujatha,
Either we do it now or pay the Doctor who will order it later.
Select a temple 2k.m away from home. Walk upto the gate and say one "hallo" to the Lord and come back (he will love you for it,since all his visitors come asking for favours).
Remember the House wife is the Axle for the Family Wheel - you are the most important person. You deserve 30-40 mins for yourself, since no one else can walk for you.
Relax. This field is not ordered on us. We selected it to enjoy life.
Warm regards,
S Rajagopal
SIR I HAVE SENT A MAIL TO YOU.KINDLY REPLY ME WHEN YOU HAVE FREE TIME.THANKING YOU
dear ilango sir you are not updating stockwealth since 5 days. any new update.i requested you for several times.
dear sir any fresh view on tatasteel
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