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...
72 comments:
Testing a new Gann Method Today which says
Buy Nifty only above 5262.65 with tgt 5286.86 and stoploss 5238.50.
( Pls do not trade this), This is testing of Gann method..
If 5286.86 crossed then 5311 next tgt
&
if stoploss 5238.5 hits then stop and reverse tgt will be 5214..
Safe shorts are below 5231 only for tgt 5207.
Regards
Happy
@ilango sir,
Surprise. Thanks a lot. Respect your kindness.
@Raja / moh.k
Morning...thanks and credit goes to you both.
@moh
Master has clearly outlined the correlation and r u satisfied or still?
Now ARMS INDEX
which associates volume with adv dec....can anyone refer links for getting datewise adv and dec volume ..
sri
Learning EW,
The Mccellen or the NYMO as it is popularly known is an exteremely good oscillator for overbought/ oversold readings. It works on adv-dec ratios and uses the 19 and 39 EMa's.
U will find a detailed write-up here:
http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:introduction_to_mark#mcclellan_oscillator
@all,
forget...very goodmorning
sri
@ ilango says,
For today's Bank Nifty trade, use ORB which is presently @ 9245 to 9276.
sir this price is bank nifty future or bank nifty spot ?
repostingone more query. hope i am not very damanding sir.
---------------------------------------------
thanks sir for answering query in detail. sir as it was close to opening i opende yahoo 5 day. we were close to yday's top so i called it -ve divergence when macd and rsi wrere below ydays' levels.
didnt luk in such great detail as u did.
but is the approach wrong. is is not negative divergence?
NIFTY LOOKS WEAK TODAY. LOOKING FOR DOWNSIDE TARGET PROVIDED BY MASTER INTRDAY
Ilango & Viren
i did read that yest but being a non tech guy its diff fr me to plot all that.
if possible could u show a chart.otherwise include it in that Nifty excel.
hi..Viren,
Thanks for that vital input of 19 & 39ema. I have taken it as sma. I am fond of the dynamic ema. I will incorporate them today.
somebody asked abt cci yesterday. stored a file from sukhaniji ' s blog in comp not able to locate now. his blog can be checked for article on cci not more than 15 days ago
Ilango sir,
excel sheet has taken 19 & 39 ema only...ema is expressed in percent terms. 2/20 and 2/40 which is 10 and 5 percent respectively.
sri
Dear Ilangoji,
pl refer yr past link.and give yr views on it in current market conditions.
http://1.bp.blogspot.com/_ot1WH5p4Xr4/S3PsEglNSlI/AAAAAAAAGuI/vJZNmyhx9Kc/s1600-h/0.1.PNG
Pankaj Shah
HAPPY where we can see chart based on gann method plz give us any link
What a market.NF trading between 12.40 points only since 9.00a.m.i.e. for last 1.45 Hrs.
Dear Ilango and all blogmates, i am silent regular viewer of this blogs. First of all i like to give special thanks to Mr.Ilango, who sharing his knowlege to all. Keep it up sir, I am nifty positional trader and trading is my profession. Shall i share my view sir? Thanks,
@ mojib
This is not from chart, This is excel calculation method by using previous day high and low and 45 degree angle.
For time being, it seems to be working 5261.45 day high so far, didnt give a buy or sell as such.
GM All
@Ilango sir,
thanks for the kind words in the EOD section yesterday.
@Navneet Singhal,
saw ur reply today.
u are doing great work at your blog.i wish to learn from u(free of cost ,dear,i know u are a paid consultant).for a start ,can u give me resources for the following-
-website other than NSE providing authentic realtime data on options O.I.,IV etc
-any charting software(free download),that gives charts like u have EOD.
Also in todays straddle strategy(5300) that u have given ,i wish to know what happens if nifty expires above 5300.
HAPPY CAN U HELP TO FIND OUT DATA IN GANN METHOD I MEAN PROVIDE THAT FORMULA GOR GANN CALCULATION
@ Mojib
here you go...
How one can do intraday trade using gann method ? Though many different approach and methods I have describe on my book on Gann Method but one of the simplest method is projection the price from static degree proportions. In this method we will follow the following procedure and assumption.
A. we will assume the 180 degree as number 1.
B. we will derive the resistances from the low and supports from the high in every 15 degree interval.
C In the price cross over of 30 degree in resistance side we will buy the stock and vice-verse.
Do remember we will use this method for making swing trade. That means we will close our buy position at the sell entry point and initiate fresh short at that point. Some time we will come across with the situation where in the buy entry and sell entry will be placed very close to each other even equal to each other. This is called congestion band. If congestion band present in my experiment then I will make entry on the 1st target points.
Let me explain with an example : Say I have identified day high and low of State Bank of India (SBI) as 2220 and 2176 at a particular time and currently SBI is trading at 2187. if I wish to enter a trade based on this procedure then I will do the following.
A.Assuming 180 degree as 1 the 15 degree will be 0.0833.
B.My resistances will be two square of (square root of LOW+0.0833),two square of (square root of LOW+0.0833*2),two square of (square root of LOW+0.0833*3) and so on. In SBI case it will be 2183.78,2191.57,2199.37,2207.19,2215.03,2222.88.Supports will two square of (square root of HIGH-0.0833),two square of (square root of HIGH-0.0833*2),two square of (square root of HIGH-0.0833*3) and so on. In SBI case it will be 2212.16,2204.33,2196.51,2188.71,2181.
Now I will conclude my experiment with following out come my buy entry is 2191.57 and sell entry is 2204.33. In this case the sell entry is higher than the buy entry price and the current price also below my buy entry price. If such a situation exists then I will place my buy entry stop loss 2183.58 and sell entry stop loss as 2212.16.
What will be my swing trading decision in this case ? If the stop loss triggered for me after a failed attempt of buy entry then I will close the buy trade at 2183.78 and initiate fresh short trade at that point with stop loss for 2191.5 and targets will be 2176.06,2168.34... this is derived by subtracting the difference of 2183.78 and 2191.5 from 2183.78. same way you can derive the targets for the long entry if the stop loss of 2112.16 trigger.
@ Navneet,
I suppose ur above answer was for me .anyway thanks for your inputs.i will be getting back to u .
I dont use any charting software/mech.system
("Am-i-broker"? ,certainly not,i-am-trader) for options.(so,prepare mental charts by going through the datas,but charts helps in confirming the game at one go)
I use "stock fortune" also for the data EOD.and "chart nexus" for charting stocks/nifty EOD.it doesn't have options data.
thanks
Dear Navneet Singhal,
Thanks to answer aarvee9.
"@rajaG
goodness gracious, out of your short ... but wot do you do on that earlier 5060 ? I too got just one at 5100"
Dear - I exited the y'day's i/d short. The 5060 is pulled to 5140(april) and ofcourse told GOD that he must be careful while going SHORT in an uptrending market. As usual, he says he KNOWS.
@ Navneet,
have u given try to "OptionsORACLE"?.If so can u guide me set it up EOD.
any links for options greeks calculators?/websites for their implications
I attended a function in which Kumara Rani of Chettinad spoke saying "I started playing with neighbourhood toddlers in my free time some 15 years ago. Those games have turned into a school of 3000 students today".
Just recalled her words and their striking resemblance to Dear Ilango's efforts. Knowledge sharing,boxing,fencing,ideas ... this place is becoming a congregation of Professors. No wonder feeling very left out. Now Ilango must start focusing on his weak students ... the Board exams are always on.
Rajagopal sir,
It looks like I am the worst student in Ilango sir's class:) because I am still carrying my shorts.
Thanks
Arun - At this point we may as well carry our short in hand (don't go in front of the Mirror).
@Navneet,
Hit the nail right away boss!.
can u share that "excel" EOD on any common platform(trapped!!).may be Ilanog sir will link that up.
Rajagopal sir,
"Arun - At this point we may as well carry our short in hand "
- Puriyuthu aana Puriyala thala:)
Was telling my little daughter a "Panchtantra"
story last night.It was about a "RAJA" who went
to the city in night posing as a "BEGGER",all
for the betterment of his mortal wards.
"striking resemblance!!"
respected illango sir,
i am holding long in banknifty @9278 , sir what should be the SL in that....as it is showing some weakness......is it OK to keep holding banknifty....if you see upmove later session
waiting for your words sir
regards
vikram
message came my brother's id
sorry
vikram
@Navneet
Got ur point sir,Can i request u for a EOD summary of that "excel" ,not realtime on any common platform.
May be u can have a link at your blog seperately and update there daily EOD("trap exit")
Arun - Shorts buttons broken. (Vadivelu "ullae onnum....) beyond this censor will apply.
=======
RV9 - No wonder my drunkard is sober. Are you sure it was coffee/tea only in the morning cup?
In your elements (OPTION(al))?
"Naam mae kya hai" - Blind are named "Kannayiram",Begging women "Daulat Biwi",Beggers "RAJA" (Kannayiram - man with 1000 eyes - Devendira?)
Blogmates Pl. give your views on banknifty please
regards
vikram
i think its tough to decide whether to exit 5200 Put or not :(
@ Rajagopal,
looks like liquor shops are having a half day.will open up after 1.30,drunkard waiting at the doorstep.
(though too early to comment intraday,)but the way indicators are behaving ,the drunkard may oblige u 2.30.
Dear aarvee9 : Please check whether he has enough dough. Otherwise please donate liberally. Wish him to have "Tummy Full" - he has huge capacity.
At this point 2.30 looks promising (Saddist?)
@ RG
the only spoilsport(jo sari utar dega),is mukesh bhaiya,as u pointed out too.bhaiya ke samne bade bade seedehe ho jate hein
@RV9
There is one excel addin SMF_Addin available at yahoo groups site. U can explore using that addin for pulling out data from yahoo and othersites..
I haven't tried it so far..
sri
@RV9
the link is
http://finance.groups.yahoo.com/group/smf_addin
sri
RIL trying to cross 1080,(third consequtive try in last three days )
Bade Bhaiya ko pasand nahi hai chota("short")peg.
rv sir, try john c hull for options , greek symbols( hope u dont mind comment)
@piyush,
Thanks piyush for reminding
Yes. Hull comes with options software also.
sri
Hi,
Is there a possiblility that after the Healthcare reform bill getting passed in US senate on Sunday afternoon their time and then world markets will start to fall big time.
Like giving thumbs down to obama and policies..
Because the gold is meanancing upwards lately..
@ Sri,
Thanks bro. but i am not a "soft" techie(like only "hard" core),but will give it a try EOD.find that u have great tech. qualities along with helping nature,keep it up.
Ya,also tried concentrating on the GANN chart that u had suggested yesterday,had an amazing experience ,all the 60 triangles merged in to one ,and then appeared a new chart ,looked like "MAYAN"(not Mayawati's dear)calendar and gave me a doomsday date!!!
aarvee9 - Bhaiya bahut baga hai. Aur 20-30 gaj, mera naseeb kul gaya. Lekin, aaj keliye,sirf aaj keliyae Neena bhabhi unko IPL dheknae lae jayegi? ye mard sadi kae neechae shorts pehana hai.
vikram
Sir's stop loss for bank nifty future is 9215 Spot price for intraday. Posintional it is 9140 spot price.
@piyush @sri
piyush "sir" how can i mind your comment(dont call me sir,or i will mind it next time, buddy).
please provide the link for it,thanks.
reliance on fire
rv its a book. wat was mentioned by sriganesh sir wud be american version. without cd eastern economic editions wud be available. not a very difficult to find book.
@RG
chi chi gandi baat,pl. avoid looking insides sarees and pants(great unis--).conc. on work,kuch to umar ka bhi khayal karo
@piyush,
thanks
@sri
u were telling about some software link in this matter
Prakash,
in which locn is the fire in reliance? i have relative working.
If ns breaks 5235 then it will lead to 5200 levels.
-ve divergence in the 15 min macd chart and in hourly chart too.
AARVEE9 - "Choli kae peechae kya hai" nahin. Mera kud ka vardi bhai.
Seriously - RIL is knocking the resistance. Broken could may go to 1094 - 1100 failure to 1063-1067 ?
Problem is I want both to happen. Very simple person.
@RV9
which one aarvee
@Piyush
Even eastern economy edition contains cd with software...if anybody bought the book, I request them to kindly upload.
sri
@Navneet
please reply to last message-
@Navneet
Got ur point sir,Can i request u for a EOD summary of that "excel" ,not realtime on any common platform.
May be u can have a link at your blog seperately and update there daily EOD
@Happy
are u the other Singhal,Who is providing us with the link in the blog? keep it up ,only few live upto their names,so make us all "happy".
@sri,
"@piyush,
Thanks piyush for reminding
Yes. Hull comes with options software also. "
i suppose the book comes with a software CD. can that be uplaoaded?
u didnt answer the GANN chart part?ha ha ha
rajagopal ji,
if your doing commodity,watch h&s formation in gold eod chart if 16350-16400 get breached then target will be around 15600-15700
@RG
i suppose this series will see the breakout and next one a retrace to 1040-45(trianle top/H&S neckline,200dma).
@RV9,
oopps..GANN chart or srichakra?
I remember we are having discussion on nifty chart?
which i am yet to do it.
sri
@ALL
Nifty trading in channel of 5220-5260 since last three days.expected break today.will give 40 points (to 5300/5180) at any side.take care.
taking a break now to check for RG that shops have opened up or not.
hi sri
yeah, great interpretation by the master ...!
hats off to you for processing the data.
plz send the master the latest file [since he may have received the earlier one only].
plz check
http://www.icharts.in/breadth-charts.html
some interesting things there ...
thanks ilango sir, for bringing out the correlation of A/D with Nifty so clearly, its encouraging.
hi RV9
whats the data you look for in excel ?
@RG
READ SOMEWHERE----
To my friends who enjoy a glass of wine.. and those who don’t.
In wine there is wisdom, in beer there is freedom, in water there is bacteria. In a number of carefully controlled trials, scientists have demonstrated that if we drink 1 liter of water each day, at the end of the year we would have absorbed more than 1 kilo of Escherichia coli, (E.coli) – bacteria found in feces. In other words, we are consuming 1 kilo of poop. However, we do NOT run that risk when drinking wine & beer (or tequila, rum, whiskey or other liquor) because alcohol has to go through a purification process of boiling, filtering and/or fermenting.
Remember:
Water = Poop, Wine = Health
Therefore, it’s better to drink wine and talk stupid, than to drink water and be full of shit.
aarvee9 - NOW I AM CONVINCED about WHAT YOU DRANK IN THE MORNING.
@RV9
what data you look for in excel ?
i know once you get such detail you would process it very well. last evening writeup was an example.
I certainly haven't missed the market action, but lots of comments to catch up on...
@ rajaG
average adding a short to early short [pull it from 5160 to 5210] or
neutralize with simultaneous sqoff 1short 1long ?
wots your mind working on ?
Dear Ilango,
Request an updation of the Tech Table asap.
Friday 1-2 pm are very volatile periods generally seeing huge sell offs.
Best
= = = = = = = = ==
NEW post DONE
= = = == = = == =
I'll be busy for another hour.
Atleast comments from RV, rajagopal, mynac, viren etc.,
comment about market pls
regards
@viren
5252 vah 5251 BB2 on 5min TF
5242 poc 5241 BB3 on 5min TF
huge volume in shaven wide neg bar.
20sma 5260
all Future values
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