if Nifty stays below 5255-5265 in the coming days.
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 ...
19 comments:
Hi..,
I am giving link for STI chart which i think similar to Anandan's excel sheet work..Here u have STI char for all nifty 50 stocks.. just have a look at it:
http://www.niftylivecharts.com/sti_charts.php?input=ABAN
The STI, ( Stock Trend Index ) is a complex algorithm designed to find the reversal point of the Particular Stock. In other words STI Targets the Reversal point for the stocks. Finding reversal or overbought oversold region in the NTI is not easy and not risk free too.
But it gives you a better indication for staying away from the stocks with the overbought or the oversold signals are generated.
The STI Signals are divided into 3 categories
The Buying Range
STI Value < 10 ( Buy this stock )
STI Value < 5 ( Very safe to buy )
STI Value < 3 ( Extremely good opportunity to buy )
The Selling Range
STI Value > 90 ( Sell this stock )
STI Value > 95 ( Very safe to Sell )
STI Value > 97 ( Extremely good opportunity to Sell )
NTI Algorithm assumes that there will be a very sharp pullback in the Stock after it reaches to the above values.
For Advance Users :-
The above charts can be used by the advance users to make better trade. Few important points to be consider by the advance users are :-
1. Decide the trend of the stock,
a. Stock can be in up trend or down trend
b. for example at present RCOM is in down trend and GTL is in up trend
2. Once you decide the trend of a stock , please go with the direction of trend.
a. For example, if some stock is in up trend then don’t short it whenever sell signals are generated by STI charts.
b. If some stock is in down trend then don’t go long in that by STI Charts, short it on every overbought region
3. User should track the news related to that stock ( some time the news can be very harmful for the stock , Like in case of SATYAMCOMPUTER and RCOM who were involved in some scam and stock fall badly ) for such scripts don’t use the STI charts.
Regards,
Dare
hi ilango
as per your charts below 5245 only shorts?stop an d reverse?
syamala
Ilango sir, 'below 5242, stop & reverse'. Have you booked out of your long & taken a short?
Dear symala,
As per ORB technique, we should wait for low to break and then we should short.
Sunil
Good Morning All.
Dare - that's a very nice post. Thanks.
Regards,
S Rajagopal
As the expiry for this series is coming closer and closer bulls are facing lot of challenges to keep Nifty above 5200.This is and will be very tough time for market.Extended market hours will play crucial role NOW.
Hi Ilango sir, i took shorts @5240 today, with SL 5270.Is this trade correct?
hi sunil/sir..
hw u wrk on ORB..explain..
new 2 blog..ws nt able understand from the page link..
regards
manu
Manu,
I wait wait for first 5 mins. Note down down the high and low. As today below 5242 was SAR and it opened below it so i was waiting for opening low to break to enter a short.
And fortunately i did not had to reverse or short.
raegards,
Sunil
Hi..All,
TA was in buy mode till Friday. Taking the weak world cues, 2 day- low was used to trigger a sell.
As mentioned by "Sunil", ORB gave a buy by 9.20AM.
As short was already triggered, the Pivot point of 5258 was used to reverse to longs as per the Reco. table trade ranges.
Now, SL for longs should be a few points below the pivot..5250-5255.
Markets are choppy with many possibilities. Hence, use TA indicators such as the ones in Tech table to monitor & modify your trades.
Ilango sir, i m stuck with shorts @5240, wht sud be my SL now?
Dear Ilango,
I thank you from bottom of my heart, not because i have made some profits but because you are showing light in the darkness. I am amazed at myself how quickly i am adapting to the market after sticking to your blog, which has helped me in learning.
Hope you will keep showing the right path.
regards,
Sunil
thnx sunil
regards
manu
Hi..Bizagra,
Exit your shorts during intraday Pullback to 5250-5260.
ILLango,
U r so special. It is a joy watching U trade here. Ur explanations r so simple - yet the most logical. It begs the question - Oh my god, why did I fail to see that. I am not buttering U up here. I promise that I really, really mean this from the bottom of my heart.
If you get a chance to write in a weekend, can U plz xplain, how, why and what made u become a trader. I would very much love to know.
Anandan sir or anybody........could you plz send me the excel sheet.
Anandan,
Me too. I never received the xcel sheet from friday. In case u forgot to send, plz shoot them to TraderNifty50@gmail.com
oops, i forgot to give you the mail id...its klak1910@gmail.com
It is the time to short nifty, one can short it for the gain of 50 points if it open's 30 point below the today's closing.cover ur shorts at 5025-5020.
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