Hour charts are at Oversold zone. Depending on world cues, it can go to the resistance or supports as indicated.
Wednesday, March 31, 2010
Nifty' correction continues with a minor pause @ low ema.
Nifty is stepping down from the top half of the channel to the bottom half and showed a bit reluctancy at "low ema" Getting closer to the 20sma and the time it takes to get there will help us to understand this correction better.
Hour charts are at Oversold zone. Depending on world cues, it can go to the resistance or supports as indicated.
Hour charts are at Oversold zone. Depending on world cues, it can go to the resistance or supports as indicated.
Retracement strategy, a must for traders.
Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor...
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I 'll always be there for you. To make you feel that you're secured. And even if the rain is pouring hard and the sky is almost dark... -
5010-5039 supply zone proved a ST resistance. 5002 proved a break down point. 4945 to 4982 proved a corrective rise, monitored with an ... -
Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor...
4 comments:
Thanks Ilango sir for the market view.
Rajagopal sir,
"TCS - Short is still on. Any opinion please?"
- I am also holding TCS short and I moved my SL to 805
Dear Ilango,
Good eve.
“Below 5250, Nifty will step in to the lower part of the channel to seek 5190, 5160”
On this background the final half an hour trades are interesting one. Today, not from FNO side but from spot side. At 3.05 p.m.Spot Nifty gave its intraday low 5235 and after then from 3.05 to 3.30 Spot Nifty traded from 5235 to 5255. The highest intraday volume was witnessed in this period only and it gave final trade around 5250.On the other side, at 3.05p.m. Fut.Nifty touched 5249 and witnessed huge volume at 5250. (320000) and then went up almost to 5270. At 11.00p.m. when Fut.Nifty gave its intraday low (5245) There was also huge volume at 5250 (280000) and after then at that time went up to 5292.Means it looks 5250 has its importance. So tomorrow if Nifty shall start to trade between 5235 - 5255 then I will watch it carefully. REAL MONEY is poured there. Addition of 1250000 O.I. in 5200PE when Nifty came down is also giving the confirmation that for this series 5200 has a great importance. FII are pouring almost 500 cr everyday after budget day. Will see the result tomorrow.
Dear Illango,
dow made symetrical triangle which shows bearishness VIX index also made triangle going to breakout from triangle which shows volatality going to increase and 20 sma ratio % is +1.75% only if it falls below zero market may fall
so next week we may see 4950 all are taken from your following blogs please comment
Dear Illango sir have observed the double bottom pattern in RENUKA few days back and bought 80CA @ 2.40 now that option is Trading @ 0.65 Can u please advice on the same Or can i average to minimise the loss so i can exit if stock bounce back
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