Some such as HDFC, Maruti, IT stocks have been sold off with Volume.
Stock specific action suggests of both upside & down side possibility.
Sell into strength and buy into weakness in a range of 5150-5160 to 5330-5340.
Monday, January 11, 2010
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....
-
5010-5039 supply zone proved a ST resistance. 5002 proved a break down point. 4945 to 4982 proved a corrective rise, monitored with an ...
37 comments:
Yes Friend or keep Trailing Stop Loss
hi dear sir ILANGO,
GOOD MORNING
Today spot nifty low is 5227.80 so its seem is worn of deeper correction ?
Very Good Morning. Ilango and friends.
Regards,
S Rajagopal
GM illango sir
nifty spot made a high of 5287.5
markets may touch 5300 as u said
is it any false break out??
Ilango, Nifty Spot did move past 5275..was it a first sign? Now, where to put our stops for the longs and where to reverse??
Can anyone guide me?
I have elwave and metastock but do not have the manual/guide to learn about linking live NSE data.
Can anyone advise me. Mr Indian, read that you use Metastock - could you please help.
Regards,
S Rajagopal
Ilango, any views on Reliance? It has bounced from the 21-day average as you mentioned in your stock specific blog. Now, what is expected on the upside?
GOOD MORNING TO ALL
Ilango sir., Today reliance has shown a high of 1149 in opening similar to what was punched last week on Jan 5 - a high of approx., 1145. does it mean it has crossed 1120, and the atock is in breakout? or can we ignore it as spurious data?
NS touched both support and resistance!!! totaly confusing!!!! as to where to initiate trade for intraday!!!!
Hi..All,
I have net problems.
There are freak quotes in Nifty low as well as RIL highs.
Keep a SL now of 5260NS, if you have not booked out yet.
Inspite of 3 cr volume in RIL cash(Bulk deal), Nifty has held well so far.
I will get back once net problems are sorted out. Trade light.
hi..Rajagopal,
Put your quiery to Mr.Rajandran of "Market Calls"(In my blog list). He should be able to guide you.
Nifty is trading in the 5265 - 5286 - the upper band of the range in the post. Above 5286, will go past 5310.
Below 5265, deeper down..
Hi Ilango sir, r we going short below 5265??
Thanx Ilango. Will do as advised.
Regards,
S Rajagopal
bizagra,
I think what Ilango meant was to SELL the Nifty (bought on 8/1 @ < 5240) if Nifty goes below 5260. No shorting yet. Just profit booking, I suppose.
Ilango sir the hourly close at 10.00 is above the 5HEMA. so can we trail the stoploss of the long to 5HEMA? FOR INTRADAY?
Ilango sir, today i booked profit in my long taken at 5241 on friday at 5291 - a profit of 50 points. thanks.
I also shorted at 5292 & holding now. shall i place a stop loss of 5290 nifty spot?
Dear Ilango Sir,
Today I booked profit in my Long taken at 5245 on Friday at 5285. Thanks.
Ilango Sir,
Like Prabhakar and Saravana I also booked profit as advised by you in the Pre Market view.
Thanks a ton
Ilango sir, since you had recommended aggressive trade to sell on strength at 5270-5295, I not only booked profit in my long taken at 5241 on friday at 5291 but also took an aggressive short at 5292. Can I hold it as a positional short? If so what should be the stop loss?
Can anyone send me updated excel sheet at akhil20@gmail.com
Cheers
Akhil
hello ilango sir
Hai Illango sir,
I am new. Please kindly send me the excel sheet to my mail id. cvab37@gmail.com
Akhil,
Excel sheet sent.
Thx Arvind.
I have fwded the same to Blood Donation..
Blood Donation - Nice ID
Cheers
Akhil
Ilango sir, nifty spot below 5250, I am holding short at 5292. Should I book profit or hold it as positional. Pl advise.
Thank you Akhil and Arvind.
Welcome Blood Donation - remember this market is "Count Dracula" !!!
Trafic is very less today. Is it because Ilango couldn't post the updates?
Regards,
S Rajagopal
Ilango sir, I booked profit in my short taken at 5292 today morning at 5252 - profit 40 points. thanks.
Hi Sarvana
As long as Nifty doesn't closes below 5246 daily 5EMA we should not carry any short position.
Cheers
Akhil
tomorrow results of INFY,wipro and tcs. can anybody say how it is going to affect the market?
hi Akhil, thanks for the advise, I wanted to carry short coz nifty spot came down to even 5241. But thought I am getting 40 points why not book? So booked at 5252. As you said nifty spot may not close below 5246.
Hii all, if nifty is closing below 5246, r we going to short today?
I think no, Ilango sir said, i shows weekness, but follow up action required,ie moving below 5 LMA.
For me it looks like a market to sell long if any.But NO NO to short.... dont see much downside now.May be the result starting will drag towards 5160-5000.Below 5000 sharp fall may happen, but 5000 will act as a strong support.
Covered all long and having no short as of now.Need more clarity to take position.
Hi Prosenjit
Since ur good with options I need one advise.I am carrying 5300 put almost from the begining of this series bought at 124.
I shorted Nifty Future in the morning and covered it with 20 pts profit.I was not sure of going long in future around 5240 levels so shorted 5200 put do u think its a right strategy?
Cheers
Akhil
Post a Comment