Retracement strategy, a must for traders.
Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor...
-
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...
81 comments:
A sideways move is likely 5200/5210 to 5250/5260.
Sir
Is it worth Shorting Bank Nifty at 9200 considering technicals and past data of this index?
Thanks
GM All.
Dear Mynac,
Just read your response. Thanks. Just hope it sticks to the usual trend of downslide on expirty - rather than the ups.
Today Wednesday must give -ve bias at 2.30. If it does will it be the trigger for correction?Last two Wednesdays did not oblige. Broken trend continues for maximum three weeks. If today is +ve, I will play for -ve on a day prior to expirty ?
Ilango
when should we consider this - divergence in hourly chart?
sir ,
as per premarket, and orb not breaking up, 2 red bars, sold at 5233. wat shud be strategy now.
is there anything wrong with this approach.
Gm all
@ Hitendra,
I feel it should be bought into corrections..upto 9140-9100.
@ learningEW,
we wait for the hour macd to turn down first..
Good Mrning Blgmates & Illango Sir
Should be expect a correction today and is it buy in correction or not.
gm all here all respected blogmates and Illango ji
illango sir i have exited mine banknifty...aiting for the dipp
regards
@vikram
lucky man didnt hit sl 9000 yesterday but 9001
c luck plays fr 1 point:)
best of luck always
i wl cut copy u:):)
@ Piyush,
"ORB" after a "Break out day" given another buy in the morning. It was 5222 - 5234. From 5234 , it has moved 25 points..
Nifty is @ R2 5261.
spl thnx 2 gautam fr helping getting RNRL intraday chart..
g M Ilango sir, sud conservatives also obey ORB for initiating a trade? I hav always seen when ever i wait for level to enter a conservative trade, i always miss it. Can u plz give it in comments when the conservative trade is initiated, like trade initiated today?
GM to All
hi..bizagra,
The recommendation table is only indicative, suggestive and not a final one. Besides "dynamic mkt conditions" can not be explained continuously.
I remember "Initiating the SELL 5135 for a short term tarhet of 5050-5020". Bullish nature of the market gave only a shallow correction. And I failed to alert that the "short term trade" to be closed and re entry of the long especially when the market was resilient above 5100. Viren's VAH @ 5137 yesterday is another indicative strength.
I would welcome everyone's participation from what they have learnt.
Yes..ORB could have been used to enter a long trade today. Atleast a part of it. Stocks are doing quite well and that will reflect into Nifty.
yesss manu jiiii
our mentor had blessed me on that trade....many many thanx to illango sir and other blogmates from the bottom of my heart
regards
vikram
Thanks Ilango sir , got it.
thanks sir. it fell back in the range. struggling at r1.saw 2 red bars. ur premarket sell @5235 so initiated a short trade instead of long orb trade.
added to it at 5255 after stablising. hoping ur range , rajgopal factor to play out .
negative divergences also exist but i have given up on them
read above--negative in 5 min
sir
u r nt uploading unitech files in stockwealth..(my diet) as u hav done fr BN,Icici bank and ur fav TISCO(i rembr taken a long in tisco @ 167 last march and made loss in it):)
and ur view on unitech..
It seems, TCS has no effect of OB. Its OB from almost all indicators and still moving up...
Can some idicator specialist, put light on it.
Someone gave Short on IT stock since Budget and since that day IT rose only and that too madly. That guy is absconding now... ( Without giving levels he just trapped many people who followed him), Luckily we understood his game before he could do a bigger damage to us.. Suugest that if someone give trading calls then should give properly with stoploss and tgts so that ppl can check Risk Reward ratio before entering into it and dont just trade b'cos of OB & OS.
Regards
Happy..
@ Manu,
I will upload Unitech from today and I have the "Hour data" too thanks to "well wisher".
Unitech..Showing signs of reversal, closed above 5 ema. It is on the verge of a "Break-out"..
We are long in it.
My critic was suggesting "Investment" in BajajHindustan.
sir
i think ur critic must compare renuka with it as oS and UP sugar mills hav disadvantages as compared to south indian mills..
@ Piyush,
The range given in the morning was an approximate one.
You could have waited for that 5-minute chart negative divergences. It is also visible in Yahoo 5-day chart.
You averaging it was a smart one.
@Manu,
His observations are purely technical and he mostly avoid all kinds of news & fundamentals.
Everything gets reflected in the prices. Even the infamous "Satyam computers" was a "clear sell" before "Rama Raju's public admission of misappropritions" and it fell to 2 digits.
sir whts the time frame fr bajaj hindustan
Ilango sir I need your help (along with your critic) very badly. I am stuck up with a 620put in tatasteel. Yesterday afternnon I had personal work so entered a sell value and left home. unfortunately the sell has not triggered. What can be done with it?
"Satyam computers" - cause of a down fall ? It is up and running Now.
Latest "Lehman" is coming back in another name.
So both have their second coming ?
What happened to all those gullible investors who went down with these ? RIP?
Ilango sir, if nifty moves above 5310, will that means that we r still in Big 2nd up wave?
thanks sir, u and this blog , blogmates have taught a lot. but i have a long road ahead
@ Satheesh,
Any stock that trades at a new high for the settlement few days prior to the settlement will finish firm only. I suggest you retrieve what ever is left in that stock...I mean the PE.
Tata Steel & generally most of the commodity stocks tend to move in one direction once the reversal takes place.
Thank you sir. I shall do accordingly.
Ilango sir, i am holding nifty short at 5269, what should be the SL for this trade? pl tell.
hi Mr.illango,why don't you conduct seminar,so that we all can come together and learn and clear our doubts.You are the right teacher who can teach selflessly.Kindly think and consider this.I am keen in learning from you.
Atmo,Chennai
@bizagra,
If you study our weekly chart, it is clear that the upmove from 2539 ended first @ 5193. The second wave unfolded as an irregular correction and has ended @ 4675.
Now the "C" is on of the larger "B wave".
Individual stocks are showing impulsive 5 wave structure.
"B waves" are tricky to trade as they mimic the "earlier impulsive wave".
"A" wave is a straight forward corrective down whereas the "B" is correcting the "A' and acts quite like a bullish wave. How this "C" of "B" will unfold...we should get some clues soon.
Unitech..Showing signs of reversal, closed above 5 ema. It is on the verge of a "Break-out"..
We are long in it.
Sir can i buy just one unitech here.
What is SL here and what is 5EMA as per file
Thanks
Radhika
dear ilango sir im using metastock kindly tell me about stochastic setting for 5mns hourly &daily thanks
regards
subburaj
TCS Views pls Ilango.
Ilango sir thanks for yr wave explaination,as per the chart given by u today, conservatives can still enter near 5180-5200 with sl 5150, today or tomm.
Sir
I have Rajagopal 50 stock file as per this file Unitech 5EMA is 74.45, so if i buy here with SL 74.50 THEN WILL it be correct move
regaRDS
rADHIKA
Rajagopal sir, "Latest "Lehman" is coming back in another name."
Pl explain this for the benefit of bloggers. Do u expect a market crash like in 2008?
Sir views on Suzlon and FSL also requested.
regards
Radhika
@ Subbu,
Daily: 5 day & 14 day.
Hour : 21 Hour & 35 Hour
5- Min: 79 (5-minutes) & 158 (5-minutes).
Ilango
can u pls put that weekly on a chart.
@Happy,
IT stocks outperformed as well as Nasdaq.
They will give the early indication of "Booking out".
Technically it is in clear uptrend. Weekly is developing negative divergence.
This day trend will continue for some more time. Periodic part booking may be done from 875-900 onwards.
I am new to this forum but good follower,Ilango sir i have renuka 70 put can i hold or not please give me ur views
Saravana - No. I read in ET that Lehman has appealed to be allowed to (re)start business in another name with left over assets. Some other form will be the cause for next fall. I beleive in Malthusian theory of population - "population when not checked,nature will initate corrective action through own forces once in 25 years". As EW this theory also will apply to markets.
@learningEW,
The file is everyday uploaded and the link provided at the top right side of this blog.
You will find all you are looking for.
Happy - I also posted that CNXIT may go down, last week. I categorized it as info from my broker who said "planned hammering expected on CNXIT today"
Rajagopal sir,
One thing I must learn from you is to gather news and apply it accordingly. Good sir. Following ET, Businessline or whatelse?
"17-03-2010 11:58:17:Securities in Ban For Trade Date 17-March-2010
is BALRAMCHINI."
---any significance ? please check.
@ raja pa ji..
whn market wide limit crosses the defined by nse..then a ban period..if u use odin diet or NEAT(now) then it s updated every sec.
luv 2 d:)
"EDUCOMP" on HIT LIST below 772 for 751 sl 778.
Short Call
Ilango sir the link Nifty TA ,is giving error of broken link, when i start downloading.Plz help.
Manu - Thanks. Same attack. Check Educomp.
Ilango
thanks.
Dear rajagopal..
BALRAMCHINI OI crosses 95% yesterday its self.. any further OI creation will cause penaulty as per SEBI
This is what i got yesterday its self..
Thanks,
Ramesh.
sir
uni pa ji..
Manu - I am back in Unitec world. (heaven or hell just to meet you).
Ramesh - Thanks. Just copy pasted msg received in terminal.
rajgopal sir educomp call is from ur broker?
@raja
:)
Been quite for some time now...
What is everybody looking at?
illango sir can u give ur views on renuka sugars i have renuka 70 put
Viren sir,
every one looking for your comment on market
babu,
Markets are strong.
For intra if we hold 5242, we can look at 5275-5302.
Rajagopal ji
Unitech 1 lot +, 75.30 any SL
is it ok to buy 5200 Put now @26 ??
viren sir 5275 today
Ilango sir, nifty futues now 5252 against my shorted rate of 5269, can i book profit & go long here? OR hold the short with SL at 5275?
Paresh,
Pls don’t go for shorting in option for time being as mkt has shown strength after a good consolidation…
Saravana,
You rightly picked the peak..and there is no harm to book now with small profits as you are against the trend..
I know you would like to hear from Mr.Ilango..but this is just my sharing
@ SMALLTRADER # Renuka,
On charts it shows positive divergence in both MACD & RSI ...
Rajagopal sir can help ...
Viren Sir,
give vah,poc,val for unitech and litl
Thanks in advance
Yes Piyush,
Holding 5242, we can get 5275 and even year highs.
Below 5235, start nibbling shorts and add once we enter our value areas.
Be nimble today...I'm expecting swings.
Rajib - not tracking this counter.(seldom step out of N-50).
Sorry. But please be careful with Sugar.
= = = = = = = =
NEW POST DONE
= = = = = = = =
Ilango sir, nifty spot has been trading below 5250 for quite a long time now. does that mean there is good rsistance at 5250? shall i hold my nifty futues short taken at 5269 or book profit now at 5256?
Prabha,
Unitech 74.5- 75.05- 75.2
LITL I do not track.
Rajagopal sir,
TATA MOTORS ALREADY PEACKED NOW IS IT RIGHT TO SHORT NOW BUT I AM NOT A GOOD TECHNICAL PERSON
Small Trader - TMF is capable of 818-820 in short term. JP Morgon rating is Rs 900. Market is bullish. May be Nano is at the pit stop. I will wait for 815+market conditions to go short.
Post a Comment