From yeaterday's low of 5219, "a" wave completed @ 5256, "b" completed @ 5232, now to the "c" towards 5256 to 5260/5265 and then the next fall..
Wednesday, January 20, 2010
Nifty Intra update
It is also possible that Nifty may break 5219 as in an irregular "b" and then do a "c" wave up(Could also be a truncation--meaning may not move past 5256) and then fall to 5170--.
From yeaterday's low of 5219, "a" wave completed @ 5256, "b" completed @ 5232, now to the "c" towards 5256 to 5260/5265 and then the next fall..
From yeaterday's low of 5219, "a" wave completed @ 5256, "b" completed @ 5232, now to the "c" towards 5256 to 5260/5265 and then the next fall..
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71 comments:
With in two hours of trading Summer came, Winter Came, Autumn came - Fall is yet to arrive. Atleast our weather man is right every time. Hoping for the FALL.
Regards,
S Rajagopal
Rajagopal, Your comments are humorous. I thought to suggest ilango sir, Aggressive trades are for those people who can read data by their own. If sir is not online, who are all executed will go in doom. Sir should promote more conservative. And not only that excess trading always –ve impact
Hi..Rajagopal,
GM :)
Hi..Babu,
I am just trying to figure out a short term trading range for the day traders. For positional traders(Conservative), there are not much opportunities to hold in a choppy terminal environment. Even if they initiate a Long or short, they will do well to protect their profits with some tight SL or simply book profits of 50-75 points.
Once a target or a pattern is complete or the trendline is broken decisively(5120), then holding will be feasible.
Hi Babu - We have a saying in Tamil "when adversity stares at you, laught at it" (Idukkan varungal naguga...).
For me, this site is a contribution of a selfless mind to the trading community. I don't expect/demand Ilango to be on line. He cannot and is not expected to baby-sit our trades. Whatever he declares are what his system analyses and throws out.
Valour is the other name of the Fool. Aggression is the diplomatic synonym for Greed - which in trading means a willingness to take the blow. Conservative Trade is given in the EOD/BOD tech tables/analysis. Day traders are basically aggressive traders. Hence you feel that mostly the indicators are for aggressive trades.
This is how I understand Ilango's messages.
Regards,
S Rajagopal
Sir, you are right. I am not talking about present situation. In general I told. My point is, if we have conservative call from you, better not to take aggressive call. Coz I don’t know data reading. If you are absent at that time, I should not fall in trouble. Your conservative calls are so excellent. Always I made money. Trading is not my profession, so I am not paying attention on your lessons. ( sorry for this).
Hi Ilango Sir,
Where do you see market till budget?
Dear IIango - Can i have short term view of Cairn energy - reply of any other member is also welcome - regards Deepak
Ilango sir,
I am short one lot nifty as per our S&R yesterday at 5225 do yo think I should hold on to this trade or exit at current market price
Arvind,
If u don't mind me asking 3 things:
1. Why did u short?
2. Why u don't want to stick to the SL?
3. Why do u want to exit here?
Please think over these so that u don't get doubts on ur trade in between.
Trading is easy till the time we are clear about what we are doing, otherwise 99% people lose in this.
Sorry for butting in.
regards,
Sunil
@Rajagopal,
your saying is 100% right. I've seen so many blogs covering nifty but none can match ilango's selfless contribution by sharing his trading tactics, strategies, methods and on top of it, giving the excel program to each and everyone. Add a spice here, his response during trading hours and beyond is always exceptional..
Next Anandan also following ilango's footsteps..this is what we call it as inspiring leadership...
I really want to see ilango sir chart to decipher what special combination he has...
Though little i studied taking his annual chart but will be interested to know more to understand his secrets of success..
best
sri
Sunil,
Orignally I was Long but S&R was at 5225 so I went short yesterday i.e I reversed position and as per the new table c wave to start hence this question
Arvind,
As u reversed to short, now we should not just close our position rather keep a Sl, in this case we can keep today's high as Sl and look to cover our shorts in profits near support.
This way we are safe and can follow the trend also.
I hope Ilango and other senios will agree.
Sunil
Hi..Arvind,
"Sunil" has put across a valid point to you about having a clear plan of entry, exit & targets for a successful trading.
I will clarify a few points:
1. Because of recent choppiness, I have given only a Stop Loss(SL) of 5225 for the longs created @ 5255.
2.Even today morning, I have clearly stated the futility of a conservative trade in a Non-trending market.
3. we should only initiate a conservative trade when a pattern is complete near a target zone of 5320 to 5350 with -ve div. Or at the break of the major trendline @ 5140 or decisively below 5120.
4. Until then trade for 30-50 points.
5. Presently if the "Short on rally" due to world mkts help was initiated in the morning, hold the same till 5170-5150 and reverse the trade there..
Ilango sir,
Thanks for your advice.
Sunil, very kind of you to give your views shall keep the points in mind.
ilango sir and seniors, i a simple question how is closes 5245 20/1 derived in tech table
Hi, Guys, Thanks for your Motivations..
As I indicated.. Nifty will fall few day's before as to BUY 5300 Put at 68...but some people are not follow.,,, ok.. No problems, Once Nifty Hit.. 5150.. then think of going Long...
Even falling market you can see HUL on up move.. take care.. bye..
Anandan.R
Hi, Guys, I am trying to Upgrade.. ChartNexus software.. but my unfortune is all old data no more avilable.. I have to download again from webpage..
so Don't go for any up grade version of ChartNexus.. use exisiting version.. this is for your info..thanks. Anandan.r
Hi..Piyush Sharda,
As I update the Tech table, current day's value also updated as per the hour value. Around 11.15, it was going towards 5245 and I updated accordingly. It was an error. I change only at the close of an hour.
Hi..Deepak,
Cairn is showing negative divergences in the weekly chart. The upsides look limited. In case it moves past the recent high, it will be a good selling opportunity. I will update a chart tonight in "Stockwealth".
anandan, they have launched new version with chinese data, klse, taiwan n others, also some more indicators are added!!!
And new software is less prone to crash, it would be better if u download the new one.....its a one time download, n they have also increased the time frame, earlier the new installer will have 2 yrs back data, now 3 yrs
Dear Ilango,
Spot 5220 offers very strong support. Will it be the show spoiler today? Noticed buying renewal in three cycles so far, since morning whenever spot touches 5220.
Regards,
S Rajagopal
Dear Ilango,
Please post updated wave count figure. i missed counting.
Thanks
@ rajagopal - ofcourse u r right, me too buying at that level it's 61.8% fibo level of 10 days 60 min chart and 5216 is cam weekly level for long.
Regards
Hi..Rajagopal,
I have suggested while updating the 12.00Noon Tech table, a reversal below yeaterday's low of 5219 as a relief rally upto 5242(pivot) may attempt 5256 if it has strength and a max. of 5260-65 within the bearish set up...
With the India VIX hovering in the lower range and the market moving sideway. Dont expect for a bigger fall.
Today Asia a week but India is still not reacting to that. May be this is the way we will move upward before the budget.
I am not comming here as I am not trading in nifty this month.Only some stock specific trades.
Thanks Ilango.
Sujatha - Other than the ORB which got reversed, in all the attempts, spot is not crossing 5229. So what levels does the balance 38.2% FIBO suggest ? Is my question correct ?
Kindly advise.
Regards,
S Rajagopal
PS : Would you mind sharing with us the concept,tools and modus operandi of the system at your leisure ?
Why NAGARFERT ?
http://www.moneycontrol.com/news/economy/see-fy10-fertiliser-subsidy-around-rs-40000cr-sp-tulsian_436821.html
And its in breakout zone.
Hi Ilango and readers
@Jay Shah
you have been asking about EMA and its calculation
I have uploaded links to EMA and SMA calculators
working on an article on moving averages,will hopefully post it by evening
sorry for delayed response,i am a little slow
http://financeandtradingmadeeasy.blogspot.com/
@rajagopal
you seem to be a well read person,with great sense of humor
Hi, Guys, US Futures are down, Europe futures are open Nagative.. UP no stocks are lesser then Down no stocks.. any time Nifty will come down...
Anandan.r
over 70L OI now on 5300 call...and 5200 put is slowly shedding some OI and supports are getting built for 5100 put...
Anandan sir,
Idownloaded chartnexus butit is not working for me. I downloaded itwith java only. but when tried to run it displays an error message that some operating base is required to run it what should be done can you help?
@ rajagopal - 38.2 and 50% 5250 and 40 respectively,not following this regularly.. only trading according to this in rangebound markets. It will give some small profits.
Regards
hi sir/raj,
could u explain the c wave again..
regards
manu
Nifty found support @ 20DMA ..5202
anuj joshi
some scree saver advertisement to download screensaver is there in the link . it is not closing and may be virus when i tried to download.pl do the needful
Thanks
bala
bala,
screensaver files *.scr can easily carry virus.
Scan immediately and remove the files with virus.
Tata steel seem to have started the 5th wave. Accordingly Nifty may also have started the 5th or the "e" leg of the last upmove..
sir mkt has recovered wht do you suggest about shorts
regards
mok,sir
it is in the site itself .When I try to download,it is coming and not downloading .I have to close the site blogspot.com itself.It is the owner of the site to do something. I have not downloaded and simply closed the site iself
Thanks
Bala
Ilango, target for this last upmove? both in tata steel and nifty?
Likely target for this last upmove is 61.8% of the previous up move is 5427..
(4944 to 5309=365 x 61.8%=226 points from 5201)
If Nifty closes above 5246, play the long side..
Target is an ideal one. Look for three up waves from 5201 and exit longs..
bala,
Firefox browser is safer.
Add the javascript addon extension to it.
Add the Cookie culler addon also to it.
Then your browsing will be safer.
MouseOver events in javascript can be used by compromised sites to offload virus to us.
Do not visit that blogsite again.
Tata steel: Approximately 675. Will update tonight.
Nifty: 5427., provided 5201 holds, closes above 5246+ today or else wait for the dip to 5180 or lower(upto 5140) and then look for the upmove..
thnk sir for the reply
ilango ji,
i went long at 5200 & booked at 5225.
Looks like can go long at 5180-5190, and add to long at 5140-5150, sir ?
with regards
Moh
Hi..Ashok,
Till Nifty closes above "Hour High ema", hold shorts and you can book partially here.
hi..Moh,
Your reading is good. Keep at it.
Dear Ilango,
Very Sorry for sounding stupid. Just...
a. Day began with a very clear downward trend reading.
b. Last reading up move upto 5427 is given.
c. Moh says he will initiate long at 5180 (& avg @ 5140) - Ilango approves
d. Why TISCO & NIFTY are linked in movement?
Most important - what is the destination i)<5180 or +5300 for this current month.
Kindly advise.
Regards,
S Rajagopal
hi ilango shall go long becaause holding 5222 spot?
month high?
syamala
Hi Ilango,
After the upmove towards 5400+, will it be the end of this bull run?
Thanks
Hi..Rajagopal,
Tata steel generally gives a lead indication and a well traded stock.
It is difficulto state where Nifty will close this series with just 130 points range of this month. It can touch both levels in one single day.
The channel bottom range comes at 5140-5150.. If there is any reversal, the first indication should be an hourly close above"Hour high ema".
If 5140-5150 holds, then upsides in 3 clear waves wherever that ends 5320 or 5427..
That is a summary.
@ Syamala,
Let us wait to initiate that long..If you must, keep a SL of 5200.
@BALA and mok
i checked the link seems fine...i will post an article on moving average and try to upload a fresh copy of calculator.
I am new these uploads stuff,will see to it
thanks for telling
Screen savers are mostly viruses stay away from them i have never in my life downloaded a screen saver
hi..shr,
As of now, that is the indication we can read from most charts.
5220 nf spot
5212 nf fut
30min sma
Sir,
As we have triangles,head & shoulder,hanging man etc patterns - do we have a "swaying drunkard" pattern ? May fit the movement at most of the times.
Regards,
S Rajagopal
Dear Rajagopal,
Unfortunately it will be very difficult to find the target for "swaying drunkard" pattern. :)
Regards.
@Rajagopal,
:) :)
Thank You Ilango.
Regards,
S Rajagopal
ilango ji
thanx, sir for the encouragement.
----------
anuj,
i did not mean any offence, already i have come across blogsites with compromised links, so just warned the unwary user.
i guess the site control is not totally with you. i suggest you to scan the pages for compromised iframes also.
i have seen this happening at another market blogsite. thats why.
--------
with regards Moh
Dear Ilango Sir,
The best pattern has been found, as suggested by Rajgopal (Well Done), nothing best describes the market movement today.
I am long from 5210 NS, hope for the best.
Thanks & Regards
Sanjay Kr Jaiswal
hi
@Mok and Bala
i was able to download from the blog
from blog post it goes to ziddu the we select download....then we get a word verification.then we download to get the file
there is no forced screen saver download
screen saver ad runs on the right side
but its not interfering the download....
Cheers
rajagopal ji,
this month has been going with lot of nr7 & nr4 days, with a few ws7 days. The congestion and the span has been mostly very narrow.
today, mostly the candles have sailed thro the bb2 & bb1 lower bands, but for that one burst at end ...
jackie chan will find a title from you :)
plz keep it going, makes the day livelier !
with regards
Moh
@mok
"compromised iframes" what is ,that how it is done ?
computers and internet is tougher than EW.goes way above my head.....LOL
Your suggestion will be helpful
Thanks Ilango. I want to cash out and minimize the holdings from my portfolio.
Regards
anuj,
Looks like one can put a button or link on a webpage, and design a transparent page over it with the danger links.
When one thinks he clicks on some visual, one actually ends up clicking the transparent trouble links.
Iframe web component seems to be one of the containers for this. Another is the mouseover events , when the mouse hovers over an area of webpage some event gets activated.
Hey, i am a novice too, with few bad experiences like what Bala had today.
with regards,
Moh
mok..
hmm i can understand a bit of that...
but these kind of practices can be done on any website/blog ...does that mean we stop using the web?...if that is what you are suspecting ,how can i check that,where could be this problem be?in the blog or in the download site ,
There is a screen saver ad that runs on the right hand side of download file link ,bala might have accidentally clicked that so he got the screen saver and not the download file,it took me a lot of time to create and make upload available and to see it becoming of no use feels bad and a waste of time
please suggest some solutions to ensure reliability of downloads because i plan to add other files and make EW calculator
Need to ensure safe download before i invest more of my time in all this
Thanks you very much for your feedback .please stay in touch
Regards
AJ
Dear Ilangoji,
if we look at 5 day sensex chart rsi and macd showing +ve divergence and as u have mentioned metal stocks r showing fresh upmoves.have we completed this correction?
http://1.bp.blogspot.com/_fJ202bMkEkU/S1bghZun5iI/AAAAAAAAAeA/iyXBiDPViYY/s1600-h/5+day+chart+as+on+20.1.10-773201.PNG
Pankaj Shah
Hi guys,,,Here is my view..
For 21st.. Go long suggested on ITC, SUZLON, HUL, ONGC, Unitech,DLF, RIL, JPAsst..& Depends on Global clues you can go long on Nifty too..if opens low....
For the Scrips suggested to go for CASH, if Not,, then Intraday.. if not then Future.. But not for PUT CALL.. because you know
due to month end expiry.. Put/Call very much risk involved..Bye.. Thanks...Anandan.R
Take Note..>>>> Even market down HUL.. move move.. that is what I indicated....
Anujjoshi ji
somebody in the forum suggested to use firefox. Then I have tried
Now when i click the download ,it is not allowing ,it is banned warning . no security certificate etc etc whether you want to proceed further,it may harms your computer like that is coming.Whether I can ignore the warning and click proceed further or otherwise I have to try friday evening only so that even if happens i can set right the computer on sunday
Thanks
Bala
@bala
hmm no idea why it happening something technical
i believe its those usual alert by windows firewall or anti-virus alerts..
i will check with others and see what can be done and alternatives.
17 people have downloaded various files from my blog no problem with them....
lets see ...i will wait for some feedbacks..anyways there is nothing so great about the calculator,what are charting software for.it is just academic
thanks for your comments
Cheers
Anuj joshi
Thanks. I dont have any trading software etc etc.Just, manually one can calculate,but it is tiresome.Anyway if any site gving all the averages for all stocks etc ,it is well and good. Ifyou know some thing pl.let me know. I have tried chartnexus free software and it worked for some days and now it is not updating .OK. My plan of trading is buy when crosses 10 day averages and exit @20 days and wait for settling above 20 days and then buy and sell near 50 days like that. Now Mr anandan has give an excell sheet for stocks.It is some what usefull but all are invloves very big ticket and great risk to trade aa furture is involved in these stiocks. some body told not to go future stocks as easilymanupulated by FIIs
Thanks and dont bother much about
Bala
Thanks and dont bother much about this
Thanks and sorry for the
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