Below this there are supports @ 5160-5150-5140.
Weekly ema is @ 5190. If bullishness need to return, it is in this zone of 5190-5145.
Manage your positions accordingly...If you had a plan of part booking @ 5180, do it.
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Just state in simple words your plan for the day..i.e- The reading of last day & week, the expected move for the day, etc..This excercise should prepare you well for the day.
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15 comments:
gm sir,
i've nf short in hold @ 5215 can u suggest me the suitable price to quit it
regards
Good morning
Just for information. Today there is seminar on currency derivatives at NSE chennai nungambakkam evening at 5 to 6pm. Interested people can register it online from nse website
Ilango sir,
As leading stocks like reliance, tatasteel, relcap all are on the verge of breakout or fall, what are the parameters to look out for the movement of nifty? Please guide!
Hi Ilango and readers...GM to all
@ Bala
continuing from yesterday!!
I didn't understand your trading system yesterday but i guess you are using 10,20,50 ema crossover strategy
Following link will help you.
http://in.quote.com/global/stocks/chart.action?s=$NIFTY-NSE&chartUi.period=D&chartUi.bardensity=LOW&chartUi.studies=EMA(3,13,34);&chartUi.bartype=CANDLE&chartUi.size=800x550&chartUi.minutes=
let me know if you need more help,if you want to download data on moving averages you should visit ICHARTS and the go to screener(link in bottom right corner of illango's blog) you get data for all securities but some average and its EOD.I will write about F&O in coming days in my blog.It has been blamed uselessly.
Cheers
Dear Ilango,
Good Morning.
Regards,
S Rajagopal
@rajagopal
jst gm s nt ur style..
something refined s coming..
regards
manu
Dear Satheesh,
1. Thanks for the info on the seminar.
2. I am seeing your query for the 3rd time. May be you will get the mentor's response. Breakouts are stock specific - market conditions fuel or douse it - fundamental view. How many times these stocks would have failed to clear the "break-out" barrier(s) in the past? Resulting in new Resistance/support levels.
3. Considering NIFTY and Individual stocks are both mutually inclusive and exclusive depending on other factors, I will
a. look for the relative weight of these individual stocks on NIFTY (e.g.Info and Reliance contribute 22% of NIFTY movement).
b. exclude these and look at fundemental cues - as world market and other related/expected results and info (like whether FM has a bad stomach) and
c. will do a bible reading (Latest testmont-Ilango version) of the NIFTY Pivot.
Am I making any sense ?
Regards,
S Rajagopal
PS : if all the above stocks mentioned by you have broken the barriers, my garbage din won't be overflowing.I wish they cross the break out levels.
" my garbage din" please read garbage bin
My English teacher never pulls me for mistakes.
Regards,
S Rajagopal
Hi..GM to all..
The multi top of 5181-5183 has not been touched at all. One could go long here with a small SL of 5180.. Besides all the discount has vanished..Is it the short covering..??
Nifty is just resting on "Daily Channel Support".
good humour sense rajagopal sir
Ilango sir,
Is sail also in breakout from 240? I received a message that it is to get a target of 275!!!
Hi..Satheesh,
Sail too has completed it's 4th wave and on its 5th wave..
About it targets, I am not sure..It is possible as this stock has run up from a low of 154 to 267 in just 2 months..So going past 267 is a possibility..
Thanks sir. will it be safe to buy sail 240 options at this period? it is currently trading at Rs.5.60. Please guide!!
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.
"Masterly inaction"....gr8!!!!
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