Trading below VAH @ 5137.
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...
58 comments:
Ilango
sorry but didnt understand.
i understood tha intra 5 down wave hv completed but what & how ca then sell signal appear.
i mean how can sell signal com afer 5 down has completed.
Bn below 9010 can see 8930- 8960.
Upmove can be possible it it spends more than 30 mins above 9050 and then VAL.
Nifty below 5127 can see 5118 and 5105.
Larger day range will be 5105-5157, if the othet time frame buyers/ sellers do not step in.
Ilango sir,
which of the two indicators, stochastics and RSI spots the change in trend faster? when I compared both i found that whenever 5D and RSI are almost of same vales either above 80 or below 20, the scrip moves exactly the way it should either down or up. But many times there is quite a differnce in both values. during those time which indicator is worth choosing? please explain whenever you are free.
Thanks Viren for your explanation in previous post
@ learningEW,
By closing below 5 day ema yesterday: SELL triggered.
The first fall seem to be completing a 5 wave down and hence an intraday bounce trade..
BN seem to have just completed the 5...I will go long here with a SL of 10 points.
sir
i look upon this http://www.mcxforum.com/5min/UNITECH.HTML
for intraday lvls...
@arvee
thnx fr unitech inputs
gm all
Yes Arvee,
Excellent input on Unitech.
I am actually looking for a test of that 72.3 odd price, because it is prev high volume region.Hence my SL would be a few points below 72.3
Ilango
thanks.
sorry for troubling u so much.
ohhh god not again
another RB day
nifty since last 4-5 months moving only around expiry days
as if traders are very very cautious at this much high to take any risk around the month
GM all here
yessss i m long in bankniftyyyy
regards
vikram
@ Vikram,
BN is not showing follow up strngth.
Keep tight SL as the day trend is down.
BN Stopped out.
Nifty should move down.beter trade on down side then up side.
view?
illango sir ,
i have kept a sl of 9000 in my mind for long in banknifty....is it ok to exit there?
regards
Is RIL Nifty's protector today ? Rest of the heavy weight are down.
If RIL tires today then we are in for the baby slide ?
Is my understanding right?
RajaGopal,
RIL and even LT are strong and banks are weak.
The other possibility is the banks strengthening and we get an upmove...
Dear Ilango Sir,
Good Morning
Long in BN at 9004 with SL 8990
Is it OK
Thanks & Regards
Sanjay Kr Jaiswal
@ manu,viren
Thanks for your comments and inputs.
@Ilango sir,
had posted UNITECH'S observations for "My other critic is quite interested in Unitech"
your comments please---
S Viren - LT is doing good.
(Advise on the volume part when u get time-mail sent).
respected illango sir,
thanx for ur reply on banknifty..i dont know how my sl was saved by now lets see...i will exit @9000
sir i m also long n tatasteel from 609 (oversold)
regards
vikram
mynac/arv9/sanjay/kp
OI plz..
BN play was basically for an intraday bounce..
@Vikram,
If your SL is intact, you might get atleast a 50 points gain.
@ aarvee,
My critic is interested in "high beta" stocks as they offer higher trading spread and Unitech is one of them. Of late, it is quiet.
i charts not showing positive divergence of nifty fall frm 5120-5100 in macd 26,12,9. shown in premarket. this problems is totally beyond my comprehension.....
Rochakji-what r u in?
I am short on TCS,TISCO,HCC,BHIND,BHARTI,NIFTY
Long on Aban,RIL,LITL,AL,
sir
range contraction going on . what shud be sl for short as per premarket view.
Ilango sir,
BN in hourly chart looks like a H&S break out on the downside.
sir
a favour if i can hav blog name or email of ur critic(name plz)
these days my pld fav renuka is back into beta..
@manu,
NF added 800000 O.I.and from yesterday never traded below VAL 5127 convincingly since last 4 to 5 Hrs.It will be interesting to see whether it is gathering momentum silently?In the later half will it be "Dil Me Mandi Market Me Teji" scenario?P.S.NF is trading below 5134 since 9.20am with very negligible volume.
RajaGopal Ji, I wonder where your 12 pts are coming from in this kind of market?Please throw some light..
Dangi - No wonder. Dried up. Was looking at BN for the same (18pts).
Focus is on other individual swingers. (we must make money, why bother whether we sell Dog or Donkey)(Looking at TITAN and ABAN)
Yes..Mynac,
Last 5 days of sideways move is on declining volume and yesterday being the lowest.
@ manu,
One of my critic does not have a blog and the other one has a "Non-market kind".
@ manu,
I mean there are no big volumes below 5134.
dear fellow members, please advise
is it safe to short a stock which is rallying 5percent higher than yest. price when its 5d/14 day rsi was 99/91 resp.
thanks
p.s. what are the others factors to consider
@mynac
tkx
seems u hav good hold on nifty :)
Either ways market will be breaking this range today aftrenoon or latest tomorrow morning ( with a gap).
Nifty and the US markets are poised for a pull back but no confirmation of one yet.Fed day today will bring the volatility this market now requires.
It will be interesting to watch OI from 1.00 in the afternoon today for cues.Also the Vix should signal the change beforehand.
@ Mynac,
How will you judge whether nifty is gathering momentum or no? can you specify what are the indications?
@ manu,
No,No,I know that I have a much smaller ant brain than Dear Rajagopal so try to play within the limits.
Friends, apart from the technicals, can anyone advise what is the overall sentiment in markets for this expiry? 5000 or 5200 ?
Rajagopal sir, Vannakkam.
How do you make your choice of scrips?
sir
then gv me a way 2 discuss my beta trading with him..as u didnt comment on that section at all..
presently my positions are unitech longs and written 80 unitech call(hedge)..jst 2 save my trades frm taliban,J-Em,L-ET and Im..in all Foerce Majeure:))
Satheesh - it is a highly technical method. I sing "ringa ringa roses..." last one touched is bought or sold. Very effective.
Dear Sir,
@Ilango
What is your view on ITC?
With Regards
Alok
@ Dear satheesh,
Since 10/03/2010, NF never went below 5100 instead, shedding it's O.I.day by day despite all resistances/bad globe markets etc.etc. even yesterday it closed at the top of day.This suggests that still there might be steam left in it.
Rajagopal sir !@#$$%^&. It is possible only for you sir!!!!!!
Mynac thanks.
Satheesh - what else to do?when market disproves all TA?
======
assortZ : ET reported today - range 4950 - 5200.
Hi Sir,
PLz give your comment on ITC
With Regards
Alok
sir i have a question abt premarket banknifty,
yesterday u told as per closing below 5 ema we shud sell.
what is meaning of trade 9020-9160 does it mean we shud take intra long and short positions at 9020 and 9160 around respectively.
also positional short shud be taken around 9150 levels
@viren
plz guide on the question in Shai blog!
Its better to close the market for a week. It is too tired to do anything.What say you all?
@all,
happy new year to all.
@ilango sir, viren, govind and others u play in bank nifty
my understanding of fall in bank nifty...
bank nifty is basket of banking stocks..in other words, it is reflection of banking sector performance.
Usually,March end, RBI declares YTM values (yield to maturity) for valuing the investment portfolio. So far it is low interest rate scenario giving them appreciation in the value of securites and hence there is plus contribution to the PL A/c. But this time as the 10 year bond yield touched nearly 8% and soon it may cross more than that as inflation is shooting up, probably RBI Yield valuation will be more which may result in depreciation in value of securities and banks have to provide for depreciation in value of securities. This means minus contribution to PL A/c and resultant reduced profit figures. This could be the reason of offloading in bank nifty...U need to verify this with past data wherein high interest scenario was there....
sri
sorry there is typo error.
please read "who" instead of "u"
sri
Nifty Future between 5123 and 5148 is no trade zone or at best good for scalping. Breakout on either side shold resolve this side way movement( hopefully).
Sri..Valid point. Added to this is the expected increase in NPA in most of the banks. This NPA may further go up on the morotorium period withdrawel on Housing Loans initiated during 08-09.
hi dear sir,
plz check this can i right for this bank nifty http://haritechanalysis.blogspot.com/2010/03/call-no-1-cmp-bank-nifty-9086.html
waiting for yr kind advice
cheersssssss,
alpesh
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NEW POST DONE
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very interesting day..
rnrl,renuka,unitech -all in best five highly traded..ws way back in 2007 sep..big wave expected if ifci and ispat also join them..the last bubble..
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