Below is a chart sent by "Gautam bajaj" showing the roadmap of Nifty for the coming weeks.
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 ... -
Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor... -
If the steady FIIs inflow reflects in the prices, 5405 should be protected going ahead and market may encounter minor corrections and keep m...
75 comments:
we have slow additions on 5100 calls and shedding on 5100 puts..cld be intraday positions ..need to monitor more
@Dear Babu,
Not only me but we all shall find it out.
@ Dear Rajagopal,
Thanks for the information.
@anuj yes etf will be most prob traded as per our timings..still gives around 3 hrs for real time sync with the hong kong market...US fut..we need to see how liquid it will be..else it cld become more difficult in these low volatility times
@Mynac,
I am asking you yaar, i mean that posibility is there or not
Dear Babu,
Every thing is possible here.These are just observations and one should predict it as per his/her wish.It is everyone's angle.One will say half glass is full,one will tell the half is empty. How you look it,is up to you.
@all
good morning
@rajagopal
ur info is correct. There is some play is going on but not able to decode this time due to year end pressures...anyway
@mynac
OI is dynamic and keeps changing. Yesterday or day before mentioned about Goldmansach. If you can take fundamental view of april month and correlate with expected scenario of futures market, probably u will be able to arrive at better results for all of us. The events in april are
1. likely increase of repo and reverse repo and if hawkish, increase in bank rate by RBI
2. likely results announcement and likely change in fundamental valuation depending upon the factors emerging...
3. Massive borrowing program of Gov starts in april and RBI will try to finish as early as possible eventhough 6 months time frame is given. It is already resulted in bond yield touching high of this year....which in turn do affect market and currency...as ultimately reward from asset classes is equal if you adjust risk profile...
kindly ponder...
Posting inspite of being laughed out.
Deviated Wednesday continued (+ve move).Thursday + was a late reaction (not at 2.30-2.40).
Friday is -ve expectation - past two fridays broke the trend (budget day and the previous).
Today IIP is expected - now market is "moved" up. Could there be a 2.30 drop on selling or "less than expected IIP figs" or will the broken friday trend continue (it happens for 3 weeks).
Light on Longs. Waiting for Shorts.
(So nice to be a TA man. We can cover our backs with so many layers of steel sheets !!!)
Rajagopal
was expecting 335 & 340 there had bought on dips with avg 228.(it did so 333 in morning :) )
and like yest today also i hv Nifty sell on rise.
Dear Mynac,
"One will say half glass is full,one will tell the half is empty"
Week end approaching. I just cleaned and readied my "empty" glass. Please don't taunt me!!!
Tata Steel just hit our "Buy" price and moving up.
Unitech is bought..
L-EW:
Thanks. Sesa is reaching ripe levels for a short ? Tell me once you exit. Don't want to curse it now with a short.
Nifty short - yes. will wait for a 2.25 peak and risk.
Ilango - GM and How are you feeling ? We adopt non-TA (DR) habbit of doing Navagraha "walks" on Tuesdays and Saturdays to overcome persisting pains. (medicine is simple "Walk" or "Johnny Walker"
========
Unitec Target ? I am in both.
@arpitg
Marketcalls blog. Rajandran has done afl for 5 ema based on ilango trading system...search the blog...u will get it.
@raja
78
sriganeshh,
r u using amibroker software....?
_arpit
Dear sriganeshh,
Thanks for details.
Manu - GM and Thanks.(Luv to daughter).
But took at 74.70 - will 78 be bit greedy today?
Unitech is on the verge of a break out..
If it can clear 75.80 & 76.95, may move to 79.5-80.0. Depending on market condition, it may either correct for few days then or may move higher to 83.50 to 85.0.
Present SL may be around 73.0 to 73.60
Good Morning Rajagopal sir.
Tomorrow Thiruvannamalai LAKSHA DEEPAM. Just to remind you.
Satheesh - Laksham Thanks. Now you have effectively s.....up all my A.T calculation,house keeping,etc etc plans.
Annamalaiar First preference. Never miss a chance to walk.
Beta raja
this is bEEEEEta trading....
luv frm my d 2 u & ur d too..
Ilango
whats the sl & target for Nifty short.
Dear sriganeshh,
I definitely not an expert for the same. I am purely a day trader. Few years ago we used to see this type of boards in few hotels ( In PUne)" The bearers are paid here at the end of the day only." I have almost the same attitude towards market So I take long term/Medium term view for just short Term and just try to act and learn.
Sateesh Sir,
I visited Tiruvannamalai temple and Bhagavan Sri Ramana Maharshi Ashramam. Wonderfull places. I don't know about "LAKSHA DEEPAM". Pl. in brief if you are free.
Thanks
@arpitg
not using for trading...but have
Prabhakar
"LAKSHA DEEPAM" is done only on Mahashivratri day. All around the temples Huge kolams and Rangoli will be drawn and the whole temple will be lit with lamps. "Kaana Kan Kodi Vendum". A sight worth seeing and cherishing.for further details visit dinamani paper site under thiruvannmalai district news.
Accepted Manu - Ilango's views are concurring. Hence revised target price.
Thanks. (Not focussing in Unitec for some time now).
Thank you Mr.Sateesh
hi guys,
any has idea about updating in amibroker using myqutoes.
pls help
Ilango sir, Can you plot the wave count in tatasteel and sbin hourly charts when you update today.
I am trying to follow your wave counts from the week charts then day and then hourly in NIFTY. Based on those I have marked the wave counts in day charts I shall send it by mail to you. Please examine and correct me if I am wrong. Also after reading few material regarding EW theory, I have certain doubts regarding extensions. I shall mail in detail and please answer at your leisure.
@ raja
i knw its a bad atock if not hedged..
:)
saravanan,
ohhh...still your problem not solved...?
@learningEW,
Today's VAH 5140 & POC is 5130. These are the two areas "Bulls will defend". Intra day TA is at the bottom. day's low is 5140.
Nifty should reverse from here..
@saravanan and all
Even I am struggling with amibroker and my quote and data downloader (for back fill)
Need help ....:(
@saravanan, anuj
just can't understand ur problem...cld u write eod the exact problem...so that i can try from myside..
i download from www.livenifty.com in txt format and use import wizard to update the database..it is so simple
dear rajgopal
thanks answering my query on oil marketing companies views yest.
today i hav got a query about sugar companies
what are the technicals of renuka, bajaj hind and balrampur chini telling
and what could be the entry levels, sl and targets in them
thanking u
rparekhr
P.S.= query , anybody having view, please express regarding sugar counters, kindly guide, wanna hav heavy long positioins in them
@arpitg
what is the amibroker format(date,high, low etc)...that data downloader keeps asking?
@saravanan & @ anuj,
Please check
is there brokey.dll file in amibroker directory...?
Or esle at the end of the day whether r u getting EOD charts in it or not...?
If you are geting EOD charts, then there is some problem in myquote and not in amibroker..
-arpit
Ilango sir, what do you mean by "nifty should reverse from here" ? Reversal means coming down or going up?
What time is the IIP data?? 12.00PM or 12.30??
Thanks in advance and regards
thanks for reply
i am receiving the update in myqutoes and i have also setup the amibroker path but still i dont see any symbols in amibroker and the updation
Rochak : Sugar
News : Bumper harvest in Brazil and consequent over-production and stock glut in market brings down sugar prices tumbling.
All sugar stocks are ripe for Short.SHORT in Hindustan,...
Tech : All are in OB state - trend just reversing since +ve divergence is receding.
Saravana,
This is a common problem: Each one viewing the market with diff..time cycles.
I was referring to the intra correction ending around 5140(VAH) and reversing up from here.
:)
Ilango
thanks.
but im already short fro morning.i will keep a close sl then.
also trail up sl in Sesagoa abv cost.
@arpitg
I dont think I have problem with amibroker and my quotes...that dll is there ...data is getting saved...
But i cant backfill...using data downloader
even Indian markets charts are random....Although I get dow charts perfectly
Some configuration problem I guess ...with time and all
Cheers
@saravana
You need to have that .txt file in both amibroker format folder and in my quotes folder
That will solve your problem
Dear Ilango Sir,
Can I go long in NF from here?
Thanks
Anuj/Sri/Friends - please guide me on historical data on commodities.
===========
Also where will I get the moving averages data ?
Please help.
cut u r myquotes.format file from myquotes and paste in amibroker formates folder.
sesagoa 335 1st targt done.
:)
Dear ilango sir in updating stock file when I copy then save window appears ,sir this was problem earlier when I was using MS WORD2007,for nifty file so I stated using MSWORD2003 THEN Problem get solved,but now when I am using same for stock file there is problem in updating it ,plz help me
appleadvisory,
r u using amibroker for intraday trading or for swing trading ...?
Which formula r u using for getting signals ....?
-arpit
@rajagopal
for commodities try Icharts...they have commodities section just as stocks section
See if you can get data
at least you can see the chart...I am sure about that
@all...amibroker back fill help required
thanks rajgopal
u r such a charmy
i just offloaded major portion of my longs after reading ur message
now i am eying IT sector,
how is it placed, speciallly infosys and tcs
kindly reply back asap at ur convenience
thankinng u
rparekh r
Rajagopal sir I heard that www.kitco.com site is good for commodities. I have not gone thro the details. May be you can give a try.
Rajagopal sir,
with ref to Indian commodities I heard www.commoditiesonline.com provides good information
Ilango sir,
Nifty has been trading only within 10-15 pt range for the past two hours. Can you give an interpretation?
@Anuj
For EOD backfills i have downloaded from the link provided at marketcalls, that works. Intraday old data is available at investbulls.com but that is in text format, you would need another software to convert that into amibroker format!
Thank u Anuj/Satheesh.
======================
Rochak - IT.
Sector at cross roads. Global trends are +ve. But Mr Obama's tax-raider on outsourcing has not hit yet. In such case IT majors will have US Based offices (will it be the same ownership entity?). Added is the results expectation. Also recent run-up has over valued the Prices.
Will wait for the prices to come down by 20% for any positional entry. (CNXIT was expected to have been boosted from 09.03.10 as per my broker).
Technically : Infosys in LT OB and TCS in ST OB. Both along with other IT stocks (in bull range) exhibit +ve divergence. Not allowing TA based Short or Long.
@RM and anuj... txt data can be imported into amiborker.. no need to conert.. ping me for help.
(navnit_t on yahoo msngr)
rajgopal sir, wish u similar success in commodities too.
S Satheesh. NIFTY was not moving - waiting for IIP train to catch. To move it I have entered Long - can expect to go down.
" Plan panel deputy: India well set to go back to 8.5 pct growth in FY11 and 9 pct after that"
Piyush the Good Heart - Thank you. Once I decide (time lines clash with my walk) I will sound you for partnership. Think about it.(Serious)
11 Lac + addition in Nifty Fut. added Bet.5160 to 5140. Currently trading at 5150.Shall be resisted at 5154-5155,but still favors Bulls. In the later half it shall be interesting to see whether it shall trade above 5155 and if the answer is yes then shall it forced these new shorts to get covered at the end of the day?
positive divergence, double bottom,sirs levels nearby high probablity long trade. took position but by the time i wrote markets shot up
Dear Ilango Sir,
Please comments on Nifty. Right now no positions in NF.
Thanks
rajgopal sir,
they end at 11-30 i am asleep at that time. somebody told that contract size is of 15 -16 lacs. we need to be very well capitalised. but when u'll sound i'll give it a try.
hi appleadvisory,
do we have to creat separate folder for myquotes.
at present i have given the amiboker path as C:\Program Files\AmiBroker\Data
pls clarify
Jan ip data 16.7% in line with expectations
= = = = = = = = =
NEW POST DONE
= = = = = = = = =
Piyush - Still doing the preparations. Will have one session on commercials with the brokers today. Will meet the Tech teams tommorrow to learn/judge their strength.
Let us do it.
==========
IIP number for January is 16.70 % against bloomberg's expectation of 17.0 % and previous month's 16.80 %-SOURCES
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@anuj
if u use amibroker autodownloader, u will get problem as the data files format may not match as nse i think keeps changing its format. It is easy to do it manually at eod from the link given by me...recently marketcalls rajandran has given 3 years data at one place. it is roughly 120mb...u can download...
otherwise use getbhavcopy software to download bhavcopy file and then update..
prefer first one as that is easy
Sir,
Thanks god, Covered shorts without loosing any thing. so i can re claim that i never lost money in this blog :)
Mr.ilango,
It's been scary always..
When I do paper trades, everything looks rosy..but when enter a trade..price just flies in opposite direction…
Entered into long@5145 ( as per pre-market view- thought of entering at 5130 but since mkt was trading up..entered at 5145..after me entered..it just tanked to 5135)..going to sit tight with this entry till I get reasonable returns with S/L of 5090 which is recent low..
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