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...
51 comments:
satheesh said...
Thanks sir. will it be safe to buy sail 240 options at this period? it is currently trading at Rs.5.60. Please guide!!
January 21, 2010 10:19 AM
Ilango said...
hi..Satheesh,
I can only show you the possibilities. Nothing is so certain. Sometimes Tata steel may do well and Sail may range trade..
It is a risk that you need to manage.
Besides "Nifty" itself is not yet shown a firm reversal. There are stock specific moves are on while Nifty is deciding its course of action. At times "Masterly inaction" is a best course of action.
January 21, 2010 10:38 AM
Dear Ilango,
Few words please on significance of s&f MACDs -in negative range. Is it one of the basis for your above observation "besides "Nifty" itself..."
Regards,
S Rajagopal
Hi, Guys,
GM, BUY RIL.,Unitech,Suzlon, IFCI,IDEA, & take small Qty.. Nifty 5100 Calls.. If you see profits on Nifty call's book on every rise..
Even falling Market you can see HUL ::: UP..UP...
thanks., Anandan.R
yes sir thank you I got your point. decision must be mine no doubt about it. Just a clarification from our MASTER :)trying to be "Vathiaar pottrum pillai":) :)
Anandan sir,
I had requested your excel file from my mail ID. please mail.
Hi..Rajagopal,
Generally when the f.macd is poised to enter the negative zone, a big fall happens. It could also be a reversal day.
Macd is directional indicator and they lag in their timing. Whereas Stochastics are lead indicators and to be used with the macd.
Personally I prefer the Nifty to correct to 5000 & below to 4800-4750 for good upside possibility of 5500++ as most TA indicators are heavy with self- weakening possbilities..
Dear Anandan,
Would you recomend idea in futures or only in in cash segment?..
I have IDEA-FUT@57.35, what would be the SL for this?
Thanks,
Ramesh
Sir can we go for a conservative short below 5170? if so then what would be the stoploss?
Thanks Ilango.
Regards,
S Rajagopal
hi..Satheesh,
I have suggested a "Long" earlier with a SL of 5180 as Nifty showed "slowness of downward momentum" with future discount disappearing and even having premium occasionally. SO that was a low risk entry.
A decisive break below 5120 will be a very bearish signal..
Hi, Rmsfm...
IDEA.. can be considered for Intraday.. today is Q Fin.Results.. so any surprise will not give you negative returns.. Trade Safe.. thanks anandan.R
Thanks ilango sir.
Tomorrow reliance results!! any big issue expected?
I do not keep track of news items at all. Believe that everything is in the prices..
However, any adverse comment may impact prices prominently.
"Satyam"- Insiders have been selling and the stock was in downtrend and the news aggravated it. Buy/ sell on rumours and close out your positions on the news.
Hi..Anandan,
I keep a big data base of stocks by a simple method of downloading and it is then they are "paste linked" to various files. This saves a lot of time and it also gives me the choice to change the periods to my preference.
If you need any such help which can make your files to maintain in a very easy way, do not hesitate at all.
Best regards.
ilango
Illango sir....need your observation here....i observe naked put buying at 5000 and 5100 strikes besides writing of 5300 and 5400 calls. Does that mean market is more towards 5000 as you have rightly pointed out above, while also capping the market at 5300 for the short term.......not sure, but tring to derive the trend out of this.
hello illango sir. can you please tell us the simple method. so that we can also download and our excell file be updated autometically.
There is no secular bull move across stocks. Rotational buying & selling happens during corrective moves only.
Accordingly Nifty may move between 5300 to .....(Its blank down..we do not know how deep it would go.) I checked the monthly chart. It is the lowest monthly range since Oct.08 low. The corrections can go to 4944 & beyond too..and still keep the larger "bullishness" intact.
The present range of 5171-5309 need to break for further moves. As of now, it is tilted to downsides..
hi..Rajnish Kumar,
If you are monitoring only Nifty, simply key in the daily & hour data.
If you are monitoring 50+ stocks, then it requires 1 to 2 minute of work to update the data base.
I must know the requirement to suggest a method.
Exit any intraday Longs as this sideways move could be a prelude to a fall..
sir i monitor only nifty. it is easy to trade with NF.i have subscribed for icharts.in (Basic plan). from there i am noting down hourly data and key in to excel file. is there any other method through which we can automate this process.
I do this manually only.
Therrs no let up in tech shares. ILLango you have any wave update for this ?
hii.. ilango sir...how r u ??u said in ur elliot waves post,that never miss third waves ,as they give huge profits.could u olease help us to tell,wht are ur views for the starting of thord wave.has it been started or any more upmove pending.kindly do put lights on it.
kind regards....
vicky....
Sir I would like to monitor few of nifty stocks like reliance, tatasteel, sail etc., if not all of 50 stocks. Please sugest me the method. I downloaded the historical daily data from yahoo finance and masked it on your daily data excel sheet. This helps me for taking stock delivery.
rightly said sir.....its a prelude !.......buying is contnuing unabated in both the said strikes....
but if a reversal happens like it happened on Dec 23, we would end up 5350 at one stroke helped by the covering of 5300 CE. Is'nt it sir ?
Info: europe is going to open UP +0.5% each. US futures are also up around 0.30-0.50%.
Hi, Ilango,
Thanks for your suggestion, Chart Nexus helps me to understand which direction to go..
But for Intraday..I am looking for Excel sheet with "macro's" in-build.. so that auto refresh once in a hr.. possible from NSE..
You long Silence give a ????, I thought you are not comfortable on my last few days posting on specific scrips.. your Blog..: Pl. let me know if you have any suggestions.. I hope you know my mail ID..
My wish again.. Not to loss our hard earned money by F&O Trade to FII or DII's...
Thanks and best Regards : anandan.R
no inputs frm indian sir..
regards
sir
wht s S&R
regards
hi..nifty,
Tech. shares have completed their 5 waves up. Hence, selling.
hi..vicky,
Once a sharp fall happens and the counter rally fails near 62% or higher but not clear the starting point of the down move, that is a good selling point.
Nifty has been doing only "abc" (1,2,3) since the low of 4539.
Presently, post 5309 high, it dropped sharply to 5170 and retraced upto 5293, and it is falling now targeting app. 5154.
so 5200 put is clearly shedding lot of OI now..and same is getting accumulated at 5200 call..5300 call is very heavy with 72L...
cld indicate that supports are now for 5100 zone and resis at 5200 ,5300
Anandan sir thanks for your excel sheet. I recieved it
sir my long @5190 got stuck any suggestion
regards
thanks for enlighting it ilango sir....
would be highly thankful to you,if u could make it clear when it starts....
i m daily reader of ur blog...
sir...could u plz check the charts of jsw steel??i think it could be a good short candidate.
kind regards....
vicky....
dear ilango,
i have read your last posting @ 11.59am and would request you to send the database of the stocks where you mentioned downloading and pasting to various files .also instructions how to update the database daily.
it would be kind of you to do the needful and it will save a lot of time on updating our stocks data manually on a day to day basis
my email id ajitshahbusiness@gmail.com
thanking you
hi..Ashok,
Why should you get stuck in a "LOng" when there should have been a SL of 5180.
Besides I also suggested to exit when future was @ 5194.
Do not trade without a SL.
Please update the tech table.
Thanks and regards
Sorry. I am also pestering. Just don't want to be greedy - but want to pat myself for a good decision (don't know how many gods i would have bothered to intervene in the markets - hope they are not going Short).
---------------
Can I hold or quit my shorts Avg 5190?
Sorry for the repetition.
Regards,
S Rajagopal
at wht lvl shld v buy sir..
regards
Above query for Ilango Sir.
Just bought Nifty keeping weekly support 5145 as stoploss.
Cheers
Akhil
Much awaited target 5145-5160 has arrived.
Time to act with some SL.
wht shld be the sl fonifty long now sir??
hi..Rajagopal,
Do Part Booking here.
Rest trail with some Sl when Nifty closes above Hour High ema
Ilango can u please send me ur excel sheet at akhil20@gmail.com.With data till now.
Also pls suggest if my sL is ok.
Cheers
Akhil
To all the members,
I request all to start reading (in actual) atleast 2-3 times what ilango writes in charts. Everything is mentioned in them.
If we do that, then we can very well plan what we need to do and what would be our Sl.
I hope all take this in right spirit.
regards,
Sunil
Long at 5150, what can I keep as SL now ? Perhaps 5130 ?
hi..nifty,
Keep 5115NS as a SL.
Sir - Covered 1/3rd @ 5132
Regards,
S Rajagopal
New post with updated futures chart uploaded
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