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...
40 comments:
@GK
Ilango sir is taking it as an abc correction where if it does'nt break 5260(yesterday's low). Mainitaing 5260, it should move higher for the 5th wave. If breaks 5260, it will move lower for a 5-wave correction. Thats the logic.
Another low-risk entry can be around 5265-5270 for sl 5260
Hi..Prashant,
You are right about that. Even if this fall is to unfold into "5-waves", the 4th wave could give some trading opportunities.
i think 5250 support for Nifty below that 5200- 5150 may come.
till its abv 5250 then 5300 & 5350 may come so 5250 looks imp level.
GM ilango & mates
Thanks Prashant/Ilango,
bought @5265 Sl 5260 Target 5290
nifty 1hour chart shows (macd ) clear sell signal atleast 300 nifty points
Prashantji 5260 Ns or Nf?
Let it be known that we are holding positional shorts @ 5305 created on 26.03.10.
This current trade is for "attempting" to trade minor movements within the day...
One intraday sell at VAL-5296 could not be expressed due to time factor.
Hence, the second trade-long- from 5275..
Let us not confuse with the trading time cycles here..
SL Triggerred
Sold @5260 Target 5234 SL 5272
Reliance is dragging.Heavy selling from 1097 levels (fut)
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I guess they knew our SL..
Bank nifty taking support @ 9440..A low risk long entry here..
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nobody should forget to cover shorts at around 5240/50
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First time "Day Low ema" is tested and bouncing from there..
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Nifty nr that imp zone 5250.
"Day low ema" goes further down to 5240-5245 as new lows are being made..
pos divergence in 5 min o/s hourly/ sir shud we attempt one more long on macd signal crossing
sir ur observations about ema written in live markets are very informative and helps newbie like me to learn .
Dear Ilango/Blogmates,
Good morning,
First of my entire humble request that I am not trying to prove anything but my last eve.comment “P.S.Today between 2.34 p.m. to 2.42 p.m. for 8 minutes Fut. Nifty traded between 5289 and 5292,just 4 points and the volume was 900000,and between 3 p.m. to 3.05 p.m. for 5 minutes traded between 5282.70 and 5284.90,for just 2 points and the volume was 500000.After that it fell sharply up to 5263 so I shall watch this range as a struggle zone for tomorrow, at least in the morning session if it will try to go up. Will see tomorrow. “
Now for today, there is a just addition of 900000 in Nifty O.I. and from 9 a.m. to 10.40 Nifty Future has traded above 5292 to 5296 for just 2 minutes and there are comparatively big volumes at 5257, 5278, 5282, 5290 and 95. I shall be not anxious even though it will come up to 5220-30.On the contra if it shall spend more time in this range then it will be healthier. Its personal view should not be taken as a prediction. If time shall permit me then will try to join you in the latter half. Thanks and Bye.
@ilango
sir i am short at 5280 target 5200 is it ok
prakaash duraisamy, how you can get target[300pts] from macd pl explain-abcsaravanan@yahoo.co.in
@ triple jp,
If it is an intraday trade, book profits here as Nifty is taking support @ 5243 - Day Low ema.
If it is positional, "Part booking" is suggested.
Mynac,
Agreed.
I also hope we get 5225-30 (fut) and auction just above that zone.
sir shud we also part book positional????
@ Viren,
I remember your words...
Viren said...
Illango,
It's amazing-it was all there and yet I closed out at 5289.
When you are trading, you forget your own words. I blogged about 5272 future yesterday :)
March 30, 2010 3:26 PM
I have marked in Pre-market a support at 5245NF.. While watching & updating the blog, I forgot my own levels..!!
Mynac's analysis too is worthy of inclusion in my premarket view...His 5292 selling pressure, your VAL @ 5296 are just "glaring" at us..
Now new VAL has to establish..!
Gm all blogmates and Illango Ji
but sir i didnot miss your premarket view words....on the basis of that only i have bot nifty @5248 for intraday......sir what should be the target now
regards
vikram
Ilango sir should we also part book positional?
GM Ilango sir, as i exited my conservative shorts to trade (u told to book partially, and i trade with single lot only), now i sud enter near hour high ema again? M i right?
Thanks
@ Vikram,
At today's low, there was a distinct +ve div in "5-minutes Chart"(I will post it at 12.00).
Nifty will attempt to stay above 5265(yesterday's ema), then day's pivot @ 5280.
Let us watch the volume from here...
Illango,
:). Cheers.
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The bounce off the lows are not accompanied by any increase in volume..
One more low possibility exists.. It could be 5220 to 5230 as suggested by "Mynac" and now restated by "Aum securities".
The +ve divergence may persist..
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sir i am wondering why u didnt write today's ema 5260 which we update every hour, sir shud we give importance to today's dema, hdema, ldema oe yesterday's
typo pls read or instead of oe
Sir,
what happened to the 4rth wave bounce or the abc correction. I am trying to find if the early morning bounce = 4rth wave ? and now it is in 5th wave down ??
I do feel that it may get down to 5210-5208 ( NF) which will be my Sl for an attempted long at 5225.Incidentally it is a POC from expiry day.
@ Piyush,
Today's ema keeps changing as we update every hour. Hence, yesterday's value for close ema.. However, high & low ema may be considered as per today's values.
@ Govind,
4th seem to have ended at the open @ 5296..
I would like to add a word of praise to both Ilango and Aum Securities. Both are amazing in their own ways. This platform has been provided by Ilango's desire to teach others and you have also the same attitude. Both of you are explaining so nicely, but here a word of cution,"KUSUMBU of big hearted people like you is not at all helpful to the students like us. Please .....!
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NEW POST DONE
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Ilango sir, any targets to keep in mind for conservatives?
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