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...
53 comments:
@RG
Do you think its better to take out short profit in Jindalsaw?. My Broker says wait... what do you say?
Ilango sir, any targets to keep in mind for conservatives?
Hi Aum Securities, what is your name?
I have visited your blog, and find it is very useful. I am holding today's short taken at 5285 for your third target of 5220.
Ilango sir's 12.00 pm close of 5248 against hourly EMA of 5263 also forces me to hold on to the short.
What is your opinion, Ilango sir?
@ bizagra,
Intra bounce may find resistances @ 5265 - 5280 zone.
The channel support comes @ 5200-5190. I repeat..corrections are hard to figure..
Sundar's 5207..will this 4th day come closer there..? It depends on resistances resisting the advances..
@ Babu,
Rajagopal is away on some important personal works. He might join us later..
thanks sir,
Just confused about shorts ( too many stocks shorts & nifty)
i wonder if this is an opportunity to exit shorts??
Illango,
and in the futures, the IV calcs work out to 5213-5224.
@ Babu,
Consider this as a correction as long as Nifty closes above weekly ema - 5160.
And the corrections are good for trading if you could figure out the likely ranges based on earlier congestion zones..
Yes..Viren,
That coincides with earlier cluster supports..
@ Paresh - me too ..
as 38.2% - 5252, 50% - 5240 AND 61.8% 5228 from the high..
Regards
@Aum Securities
you mean stop loss for SHORTS ???
actually i'm holding 5500 Call lol
@sujatha
thanks for agreeing :)
but exactly for what did you agree, please elaborate lol
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Good to see some happy faces.. :)
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Sethu of Aum or whatever,
You wrote in the morning at 6.01 am as follows:
"NF has taken support under one critical EMA which I track and this has never been broken since the last swing and also at 61.8 fib level. Becoz of this, NF will try to recover in the morning and attack 5325 again .Now, resistance level has come down to 5305 Vs 5325."
Meaning that this level of 5256 was ROCK SOLID and never broken in this swing. Meaning thereby you were advocating a buy in the morning. When the market went down You conveniently changed colour and started harping on 3rd target which is not mentioned or rather is a retracement level only.
In your chart you have simply posted the various Fibonacci supports levels based on the upsqing from 5205 to 5339.
No great analysis.
PLEASE DO NOT USE THIS FORUM TO ADVERISE YOUR BLOG
And whether you like the word RESTATED or not its upto you to take it or live with it.
WHAT HAPPENED TO YOUR 5230 LEVEL?????
Sir
I don't know i did correct or not in your view, but what ever we booked profit, i did short again nf@5285
@ Paresh :) :) for upmove upto 5290/300 level??(too much expectation!)
Anyway depends upon the "Market" will change my mind.. currently in long ..
Regards
sethu ji your given TSL hit
@illango ji and all can we initiate short from here (HEMA)
regards
vikram
@sujatha
thanks again, you're on my side, bt my 5500 call requires at least 5350 to be decently profitable.
by the way can we chat on gmail, my id is itsmeparesh@gmail.com
@ Babu,
That is trading...Not letting so much profits to slip away. When you believe in yourself, you begin to rhythm with markets more often.
YESSSS MANOJAG YOU ARE ABSOLUTELY RIGHT , ME TOO HAD NOTICED THIS THING , THE SAME THING WAS DONE BY HIM YESTERDAY
PLEASE SETHU, ITS NOT GOOD ENOUGH TO TAKE NAME OF YOUR BLOG EACH AND EVERY TIME...AND ALSO NEED NOT TO GET US RECHECKED THAT WHAT YOU SAID AND WHAT HAPPENED.....
WE ARE HERE FOR ONLY GOOD LEARNIG FROM ILLANGO JI AND OTHERS ONLY
VIKRAM
@ Babu,
This upmove is backed with good volumes..
@ Viren,
NAV management finally..??
Sir
Point taken "This upmove is backed with good volumes.."
Sethuji, i am holding on to my short 5285 with SL at 5297 for your third target of 5220. should i change my sl to 5307? pl tell.
Illango,
NAV management done and dusted ( till next year)
All credit to you..You called it correctly.5245 still holding.
I've taken shorts at 5285 with SL at 5299.9
5300 OI - 51L calls (+8L) and 30L puts (+1L).
gd
thanks, sethuji, (Aum Sec), holding my short 5285 with new sl at 5307.
Babu Sir,
Pl.give any site address of Nifty live charts except yahoo site if you have free time.
Thank you
@ Ilango - Happy faces.. ofcourse.. i am getting good opportunity today today to ride both aways.. i prefer this kind of market always (selfish?)
Yesterday i sent one mail with a attached document please check whenever time permits.
@ Paresh : Don't think i am a TA... pureeeeee
opportunistic with very little knowledge.. Ilango sir knows about this poor student :)
Regards
prabhakar bhai
our blog also got the realtime chart of nifty and banknifty, check right side there at home page....also there are many others too.....like pur-profits.blogspot.com
regards
vikram
illango sir
sir is it ok to hold shorts initiated @5285 on the basis of high ema of NS
regards
vikram
@Prabhakar,
you asked wrong person:), if i know even that much i would have resigned my job and would have been full time trader. I got 2 good people for my trading. One is Sir, another is my broker. I just execute what ever they say :)
Thank you Mr.Vikram
Mr Sethu,
Where have you written these words in your blog that you so loudly try to attract attention to?
Am I missing your eloquent ENLISH or do you write in codes.
I RESTATE THAT YOUR BLOG JUST SIMLPLY SHOWS VARIOS FIBONACCI LEVELS FROM THE 5205 LEVEL TO 5339 LEVEL and has nothing more to it. the emphasise is on "RESTATE"
"if 5305 (R) is not taken out it will fall."
Manoj,
I request you to tone down and ignore the person if u don't like what he is saying. There might be few who would be getting some benefits form his style.
FIB Levels provide good support and resistance.
please take in right spirit.
Sunil
Hangseng closed negative.
@MONEYINRUPEES,
Why does he have to rebuff Ilango when Ilango was only giving him credit and this smart guy says ' he stronly detests the word RESTATE that Ilango used to give credit to him. We are here primarily for Ilango's views.
Have nothing against Sethu but just his choice of words.
best
window dressing for the NAV happening ?
interesting post.
http://thebestbusinessintheworld.blogspot.com/2010/02/nifty-6600-this-year.html
read it & always keep bigger picture in mind.
as ilango says.
My dear friend manoj,
In life we need to let go of some things. If ilango has not said anything then we also should let it pass. As all this takes away the focus from main job.
regards,
Sunil
my friend dineshji intros me to this wonderfull blog of mr.jagmohan,
www.bestbusinessintheworld.blogspot.com
i think everybody should check this out.
Disclosure:
thats not my blog i m recommending.
Ilango,
Whats your views on this move from 5241? Is it a correction of the fall or a satart of a new move?
cheers
typo mistake.
http://thebestbusinessintheworld.blogspot.com
lets see. proof of the pudding is in its eating.you seem to pride yourself too much. market humbles even the greatest like Jesse. So please keep your onoins safe.
@ Manojag,
If NF can hold 5270, it may attempt to make another high. I see a completion of 5 waves from 5330 to 5241 today.. It could go wrong if it turns out to be "abc-x-abc".
That is why I am keeping 5270(approx)as a critical level for immediate moves.
5272 is crtical for the shorts to be in business.
:) Illango...didn't see your post.
hi ilango , if nifty close below 5260 means, if this fall continue or not?
@ aumsecurities
enough of this , just stop your arguementative posts. Just remember, you are not in your blog, to write whatever you feel like. You are a guest here, so be like one.
with regards
yes..Prakash Duraisamy,
It appears Nifty is seeking lower levels...
@ Viren... :)
@ Sundar....Are you watching this fall
Ilango sir, NF at 5266 now, shall i book out my short 5285 or wait for break of 5245nf? pl tell.
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NEW POST DONE
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