Presently, only a channel break can give an aggressive intraday longs.
Exit the longs.
January 29, 2010 9:02 AM
If the channel is decisively broken, selling can be considered @ 4930-4950 also..
Friday, January 29, 2010
Nifty PreMarket View.
I am really sorry to have given a "Conservative Long call" yesterday when the market is in major downtrend.
Presently, only a channel break can give an aggressive intraday longs.
Exit the longs.
January 29, 2010 9:02 AM
If the channel is decisively broken, selling can be considered @ 4930-4950 also..
Presently, only a channel break can give an aggressive intraday longs.
Exit the longs.
January 29, 2010 9:02 AM
If the channel is decisively broken, selling can be considered @ 4930-4950 also..
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 ... -
Will not be available to intra update . Suggest one of our readers to update on DHEma-HHEma-HCEma & HLEma for possible support points fo...
50 comments:
Dear Ilango,
Greetings for the Day!
-After Long I am Long!!
(Conservative Buy 49CE at Nifty levels of 4865 yesterday and carried forward)
-US & Asian markets are down >1.5%
-Now, I am in a dilemma on how do I deal with this conservative open position?
1. Exit at open if down below 4840? (as yest we said about 20-25 pts. SL) or
2. Wait to see if yesterdays' Low holds or
3. Wait for sometime till and after the RBI policy declaration
Please guide...
regards and Thanks.
Further to the above based on your Pre-Market View... I am utterly confused.
Can you please guide for>>
1. SAR @ 4780 means do we need to close the conservative Long position (I hv taken at 4865) during intraday breach of this level or wait to see if it closes the day below it.
On the daily charts I am seeing the note that if 4845-35 is breached it will drag down till 4745-4780
2. If we have to trade aggressive from 4720 or 4760 till 4825, that means we assume that these levels may come (In that case what do we do about our conservative Long?)
3. I understand that we can play another lot for intraday in short from 4850-4900. Is this right?But, Where can we short in that 50 point range?
There are many levels on the chart+table... I dont understand what to do specifically (Please forgive my weak understanding)
Please help!
GOOD MORNING Mr.Ilango Sir
I have Long position in NF at 4865. Please give me your advice.
Thanks
Ilango,
GM,
What do you mean by "IF THE CHANNEL IS BROKEN DECISIVELY,SELLING CAN CONSIDERED @4930-50 ALSO"
Regards
Hi..GM to all,
I am really sorry to have given a "Conservative Long call" yesterday when the market is in major downtrend.
Presently, only a channel break can give an aggressive intraday longs.
Exit the longs.
Watch the first 15 minutes trading range and if the low holds, then exit at higher levels.
Hold if it breaks past the channel @ 4870(I will fine tune this level & give).
Dear Ilango,
Thnx for the followup advise....
I have already exitted the conservative Long at open itself with some loss (This is usual with me since 2 yrs). I now have started believing in horoscope and their impact on an individuals' fortune. Come What may... but, I am not being able to coup the losses...
Have big hopes with your guidance!
Now the ORB is established @ NF 4808 - 4844.
As the trend is down, sell near 4844 with a S&R @ 4845 for 4865.(Channel top)
And buy near 4804 with a S&R 4803 for 4785-4760.
At 9:15,
High for NS is 4866 (not quite right though)
Low for NS is 4803.
High for NF is 4844
Low for NF is 4808.
Rajagopal,
When r u covering Hcl tech? I am planning to take some profits at 320 (another minor support area)
Dear Ilango,
What is the SL for Short at 4804
Thanks & Regards
Sanjay Kr Jaiswal
sir comment not clear sell near 4844 s&r 4855 buy at 4803 for 4785
Dear Ilango,
Very Good Morning. Don't bother - Yanaikkum Adi sarukkum. You are our favourite elephant.
---
You know the tamil song that says 'Stop Loss Triggered' ? Satti suttathada kai vittathada...
Cheer up. Have great Trading day.
Regards,
S Rajagopal
Just wondering - in the eyes of the Animals, Human race is an handicapped one. It does not have a tail !!! (just a teaser).
Ilango Sir,
At what level we can re initiate shorts again as conservative. By the way i haven't read your 'conservative long' yesterday. so i don't have any positions
ILLango sir,
Booking profits at 4825 wasnt such a bad call. One already made 300+ points in a matter of days. That is very good going.
For all we know, Nifty could take support at 4750 and bounce back. Who knows anything for sure?
hi..Sanjay,
4800PE seems to be having highest OI. So it is possible, a rally can materialise from these levels.
ORB "may" not work at "Highly Oversold" area.
For small traders, it is a catch 22 situation.
Channel break is @ 4865.
Let us then take a 30 min ORB instead of 15 min.
which is NF 4800 - 4844. Now trade accordingly.
As it is highly oversold, the fall below 4800 may not be much for the day.
Above 4844NF, 4865(NS) is the Channel res.
This is the best I can offer presently.
Sometimes, it is best to wait for mkt to show it's hand.
sir does that mean sell at 4844 stop channel resistance 4865, boy orb 4803 sl 4765. other senior members also can comment
Dear Nifty,
One thing I learnt from Ilango. Profits are like pickle in a trending market. Keep them longer in the jar for richer taste.
I am holding. I am still holding NIFTY shorts initiated @ 5237.
Old fundamental trader's thinking is - just before a week end, there will be a sell off. If sticks to the pattern, I will decide at 2.40 pm today.
Regards,
S Rajagopal
Hi..Sanjay,
Keep a Sl of just 15-25 points for your shorts.
If it dips, exit.
Selling will be comfortable after rises only.
Aggressive Trade: Bought @ 4805
Dear Ilango,
I think the 30 min ORB range is 4792-4844
Thanks & Regards
Sanjay Kr Jaiswal
Rajagopal,
Did u book Hcl tech @320 like I suggested. I covered 2 lot, 1 @ 320.55 and another @ 323+ (price moved up so fast)
Can anyone tell me what is the difference between NS and NF? I was under the impression Nifty Futures was NF and NS is Nifty spot which is the current live quote of nifty index. So, how come the NF has different high / low different than NS as blogger "nifty" has metioned.
hi..Sanjay,
I mentioned NF 4800 to 4844.(NF- Nifty Future)
Dear Ilango,
Thanks, I stopped out at 4815 as per ur recomendation and went long at 4815
Thanks and Regards
Sanjay Kr Jaiswal
Hi..Kishore,
We analyse Nifty with the data of NS(Nifty Spot) and trade in it with NF(Nifty Future).
Due to Buy & sell forces, the NF data gets premium or discount to the spot. Hence, the diff. in the values.
hi ilango
u no need to feel sorry ,u doing best , overall market is supreme.
ALL IS WELL
regard
Amrender Gill
sir i need some advice i am long 4827 fo sl 4780 as per ur call. as market was down was sacred and excited part at 4816.based on s1 . now i shud reenter exited part at at 4803 i can also exit and short at 4844 with 4865 sl and buy sl 4765. i have made my question long so u need min words to answer it
hi sir,
wht time rbi is delivering
Aggressive long stopped out @ 4799(Loss 6 points).
Hi..Piyush Sharda,
I advised after realising my mistake of giving a conservative Long in a "Downtrend" which is not matured yet..first target being 4600.
Hence, do not hold longs and even if you do, have a very tight small SL.
Hi..Amrender Gill,
I consider this place as "Applied Educationa" and I realised that I did not apply myself sufficiently before airing my views. Financial markets are "Unforgiving".
I will be more vigilant.
Ilango sir, i hope conservatives after exiting longs in morning are short with SL 4865? Plz clear.
manu it is at 11:15
Aggressive Buy: 4801 SL 4791.
Nifty - since you told, got out of 1 lot @ 320.3 - holding 2 more.
Real sharp move from Day's Low - across many counters.
Regards,
S Rajagopal
Sir
Stopped again
Thanks & Regards
Sanjay Kr Jaiswal
hi..Bizagra,
You can have shorts with a SL of 4865 and the same may be brought down by 5 points every hour.
Rajagopal,
Ideally I will reshort Hcl tech again @350, but that may not come today, so I will reshort Hcl tech between 333-337. Keeping SL on the other side of 350.
Anybody know at what time the policy news will be out today.
Dear Mr. Ilango Sir,
Again stop loss triggred. Can I go Short in NF here with SL 4865 as a conservative trader?
Pl. clarify, as I am going out.
Thanks.
Bank Nifty seems to be doing better than NF today. I got in at 4285. Now averaged up once again at 4315. Will keep 4285 as SL
Sorry, make Bank Nifty entry points as 8285 and 8315 - not 4285 and 4215. SL = 8285 (initial entry point)
Sir....i was just going thru the real time charts and felt 4752 to 4770 could be possible below which 4698 might also be. On the upside 4838 to 4850.
Kindly help me with your views.
While I write this post..i see huge build up of OI in 4600 and 4800 PEs since morning. So, your 1st target of 4600 is very much alive !!!
P.S: Its just purely educative purposes. and only meant to get clarified by Illango sir not to take as real levels plz.
Thanks a lot
ka,
the OI buildup can be because of put writers who want to cashin on the jump in implied volatility. It can mean just the opposite that market may recover after the credit policy.
booked 1 lot Bank Nifty @8389. Profit = 100 pt (incl Brok). Still holding another lot of BNF with entry point of 8315 + brokerage = 8322 as SL.
@noluck......yeah, I know....i meant to write that 4600 might be a bottom for this fall pre-event ! I am not taking that the OI build up as naked ones !!
Hello everyone,
Found this blog in Google search and finding a treasure house of information and a lively atmosphere in which the comments are being exchanged . I specially enjoyed lot of witty posts from Rajagopal!
Thanks to Ilango Sir for creating the blog and provide lots of fine tuned information.I am a NRI and hence can do only delivery trading and no F&O but the blog is providing lots of fundamental information.
seems + ve to me asno repo/reverse repo hike.
Nifty Holds the weekly 2nd support level but only clear signal above 4865
Ilango,
Could you please post the tech table and your views post 12 o'clock.
regards
Sir- What is your view of Market going forward now that RBI policy is out of the way?
I have a nifty long at 5034 and Bank Nifty long at 8360, can I average now?
I think mkt's today's low is final for Over Sold Zone.Am I right Sir?
Post a Comment