It could just expand a bit more on both sides.
If you have not booked out, do so today in the conservative trade..
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 ... -
Will not be available to intra update . Suggest one of our readers to update on DHEma-HHEma-HCEma & HLEma for possible support points fo...
9 comments:
Ilango,
Good Morning, at what price can an aggresive trade can be done on the short side and what should be the sto loss?
Regards
manoj
Ilango,
do you imply we should go for conservative shorts too? If so, what should be the SL?
Good Morning Ilango Sir,
I am a conservative trader. Should I go short below 5235 or yesterday's low EMA 5209? Please clarify.
Hi..GM to all,
Conservative trade: SELL is not triggered But due to Overbought nature, suggesting to book out of Longs.
Sell will be triggered on a fall below 5 day lows or a confirmed completion of EW set up. It is possible for the market to attempt another high.
One round of trading is over from 5295 to 5265.
Now from 5265 to 5285 or higher..and so on for the aggressive kind.
As for aggressive trades : Trade this level of 5260-5300, combined with yahoo intra charts.
Thanks Ilango,
GK
Hi all,
Good Morning.
Ilango, apart from the cement industry bounce back, GRASIM had its AGM y'day to approve demerger issue. Cud have been the cause for the fluctuation. If in your scope, just advise the tech point of the stock.
Regards,
S Rajagopal
SIR today I have taken an intraday short @ 5279. Should I keep the stoploss as todays high or the pivot level. I went for short after NS did not break the pivot except for the opening trade. Am I right? please guide me
Hi..Rajagopal,
Cement sector has been in uptrend for a few weeks now. AGM is market's excuse to do the extreme..
Let me check the charts..
Hi..Satheesh,
keep a SL of 5290NF.
Hi..RajaGopal,
Cement stocks looks strong & nearing their two year highs. As stocks from other sectors have made all time highs such as IT, Some commodities, FMCG, Pharma, this too may move past 2865 & 2940.
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