You can see the ORB buy initiated @ 5253 @ 9.45AM.
"Short @ 5242 reversed to Long @ 5258, S&R @ 5250-5255.
(If the earlier S&R @ 5225 was kept, the long remains..!!)
Book Profits on this long closer to 5295-5310 or Trail it.
Monday, January 18, 2010
Nifty Intraday Update
Nifty trying to break past the 5278(Channel resistance @ 3.16PM.
You can see the ORB buy initiated @ 5253 @ 9.45AM.
"Short @ 5242 reversed to Long @ 5258, S&R @ 5250-5255.
(If the earlier S&R @ 5225 was kept, the long remains..!!)
Book Profits on this long closer to 5295-5310 or Trail it.
You can see the ORB buy initiated @ 5253 @ 9.45AM.
"Short @ 5242 reversed to Long @ 5258, S&R @ 5250-5255.
(If the earlier S&R @ 5225 was kept, the long remains..!!)
Book Profits on this long closer to 5295-5310 or Trail it.
Elliot's Impulse waves.(Part-5)
IMPULSE WAVES :- The Basics Waves that move the market in the direction of its main trend either up or down are called Impulse waves. 1....
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5010-5039 supply zone proved a ST resistance. 5002 proved a break down point. 4945 to 4982 proved a corrective rise, monitored with an ...
32 comments:
Thanks Ilango sir for prompt input. I have closed my short at 5266 taken on thursday at 5275 now with a loss of 9 points. I will not go long now, but would like to go short at 5300 if it comes today.
Ilango sir, i had last few very bad trades. Markets r becoming choppy. Sir where can i start afresh because going long at this level will b risky.till where this 5th wave can go?I am waiting for Big 3rd wave.
Hi Bizagra - exactly the mental frame to take a step back and enjoy other people's excitment.
One small request - Sanjay Manjrekar (very good batsman) had a short test cricket span because he was trying to concentrate too much on his technique. Rahul Dravid also had the same problem, till some one spoke to him. Morale of the story is ...
Just relax for a session and come back stronger.
Regards,
S Rajagopal
PS: I am no better than You. But I am too thick skinned to accept defeats and shame.
Has the Indian gone abroad ?
Where are you Indian ? We miss you.
Regards,
S Rajagopal
Ilango sir, I have a doubt. When we join thhe three highs of 5291 of jan6, 5295 of jan12 and todays high of 5282.6, on a 30min graph, we get a trendline. Can this be taken as a valid trendline and keep a close stoploss of 5290 and go for a short at 5275 levels for intraday?. Please clarify
Hi..Satheesh,
As per the spot Nifty, it has broken out of the channel decisively today. As per TA parameters, the long continues to be in force. Looking at the world markets, one could gradually exit longs in stages.
As of now "5160" is a critical level for the bulls.
okay sir thank you
Hi Ilango sir,
Can we consider this wave is the 1st wave of the 5th wave?
Regards,
Dhanabal
Ilango sir, just now I have shorted nifty at 5289, coz every time I sold above 5280 I have gained.
sir plz tell me abt hdfc ltd, tata motor
Dear Ilango - the role reversal expected was between Tech and Bank. But it looks like Metals and Bank.
Tech stocks seem to be intact so far.
Am I right ? After all both tech and metals had a strong run in this rally so far.
Regards,
S Rajagopal
Ilango sir, S&R for conservatives is 5250 or 5225? i m having no position for now and waiting to initiate shorts if s&r level comes.
hi bizagra, aggressive trade is to go short where Ilango sir has asked us to book long that is 5295. Conservative trade is to go short below 5250.
ilango sir was right about rise in banks
hi sir, good afternoon,
last three time in yr stock wealth blog u r write bank bifty has support at 8750-8800 but last weak low was @8837 and today bank nifty low is @8863 so iam wait for support at 8750-8800 and bank nifty became wild movement 2day and up atlist 180-200 piont . now whats yr view sir for buying and selling oprtunity for this condition ?
thx for yr valuable suggestion,
regards,
alpesh
Dear Ilango,
looking to the option data,nifty looks to cross 5300 sooner then later.
5300 puts added 6 lacs and 5200 puts added 6 lacs in OI and 5300 calls shed 3 lacs in OI so far.
with regards.
-jignesh
Options OI is confusing!!! Can anybody explain why when puts are added and calls are shed market is expected to moveup?
sir you have removed evilspeculator link from the blog..any reason?..
Hi..Alpesh,
My levels are approximate ones. But the reversal was suggested. All of them reversed from the S1 in the Pivot table.
writers will start shifting to higher strikes if they perceive higher levels and hence calls at 5300 are getting shed...and 5200 is become a strong support zone hence more puts are written and increase in OI...
just one way of interpreting...
Hi..Saif,
He was quite objective earlier but of late he is simply ranting..His focus on EW is missing lately.
hmm..yeah off late he is not giving more on eat counts but he has given the reason for the same in his last blog post and given an updated count...one of the few perma bears left i think and waiting for the right signal..its a wonderful blog none the less with all the technicals...
EWT*
SIR
I have shorted @5279 wht do u suggest should i hold this
sorry for such silly questions but new in this field
regards
in his latest post ..mole is still sticking to his targets of below 666 for snp by end yr and below 300 by next yr...not sure whether he has lost it waiting around ,but in markets anything can happen ...
Hallo Ilango,
Gap between 5EMA and close & LEMA & close - are they directly disproportionate to 5 & 14Ds?
Does the narrowing gap indicate intraday down ward correction?
Regards,
S Rajagopal
hi ilangoji
yes y r right thx for answer
i miss the up run
Sir can the longs be carried positionally, If so then will the stoploss be 5225?
hi..Satheesh,
A close above 5278 will give Bulls a chance of a good upmove. Below 5278 close, the corrections & choppiness can continue.
SL for the day is 5255.
I have updated a chart.
Hi, Guys,
Even the Market open down, you can see MUL, SBI, ICICI, Suzlon, BharthiAirtel Move up...& close positively..& Bank Nifty move up as expected..
RIL & Rcom / MLL, came down.. you can check the data sheets.. of SCO values..
Infosys, Wipro, TCS will move down tomarrow morning trade...,
IDFC, SAIL, ITC, HUL, can move up... watch out and book profits....
Indicated to BUY RIL 1110 PUT at 23.. It move up to 32 today.. did all of you book the profits or not..?.
Just I am up-date my view.. thanks.. Anandan.R
Hi, Rajagopal,
Did you notice interesting facts of today moves..? watch out for tomorrow.....
thanks.. anandan.R
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