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...
44 comments:
Reliance and Nifty have mirrored each other today in intra charts, including the lower intra high.
Ohh.. Ilango sir, thank you. ur level now hourly 5254 agains ema 5260. i will hold my short 5285.
Dear Ilango Sir,
Thank you sir. Morning short call worked beautifully for me. When market was struggling at 5292/95 levels I shorted it and came out at 5247. Since then I'm only watching. It is definitely a learning period for me. 2'pm Close suggests it can fall further.
Hi guys, nifty spot 5250 is a crucial level, will provide support, if broken we will see 5230 spot today itself.
waiting to book my short 5285 around 5230.
Illango,
What are the chances of your 5245 holding this time? ( if we get there)
Getting support from day's low ema at 5243
@ Viren,
The bounce off that level accompanied by volume could not reach morning highs. I guess it will seek newer level.. RIL breaking lows will indicate that early..
Second time Nifty spot has touched the low ema..Now break of that will definitely lead to 5220-5207..
i am giving below the copy of Viren;s post this morning:
"Since 5262-5272 has been reached, I would look at an action between 5272-5302 in the first half for tomorrow.Above 5295, which is VAL tomorrow, price can also target 5220-5225 in the morning session itself.
On the flip side, weakness below 5260 will bring 5225-5230 as in yesterday's projection.
As marked in the chart I will be watching for the return of the seller around 1.50 to 2.15 pm. He's showed up twice in two days at the same time and I would be watching out for him tomorrow."
:)
good one viren.
Good Afternoon,
Dear Babu,
Many traders, many methods.
Just I read your comment regarding your stop loss. You said it was previously 5297 and now revised to 5305.Absolutely no problem. For today at least it resembles me few traders 1% move theory and also a good one too. (Obviously with proper self study).I know a trader who only trades when market gives 1% move beyond intraday top to bottom Or bottom to top with volumes only. Means for today he will only trade when Nifty will move below 5243 with VOLUME or above 5297 with VOLUME .His logic behind this theory? Very simple. Price with volume gives the confirmation for change in trend. Good luck……..
sir pos divergence at dlema can we take long call, premium is spoiler.
Weekly high ema is 5237. So 5243 and 5237 are giving support.
In line with you.
Wanted clarification for 5245.
Thanks.
Sir
For maxm MF NAV benefit, close will have to be maximum. Then why buy happened around 12:30 and now selling is happeming after 2 hours? Unable to understamd this reason.
So this is a abcxabc correction now? Will it reach 5180 levels?
Good Afternoon.
@ Rajagopal,
I am sure "Many hearts" will warm up to your presence. :)
@ Govind,
"If NF 5270 is taken out", then only a move to the highs possible. If not...
Thanks Mok.
I missed the morning sell at 5296, in hindsight it was such an easy trade to short at VAL.
But I shorted later at 5285 with twice my normal qty. Trade has a TSL of 5274 now, so safe.
Ilango - I must feel blessed if so.
I owe one big thanks to Sujatha who directed me to attend a TA seminar in Chennai. Thanks Sujatha - it was worth the time spent.
Babu - JindSaw - I am holding my 219 Short. We will go with market direction/strong advise. I have seen 190- in this counter. It is at its strongest feet in recent times.
Ilango Sir,
Any modification of SL for conservative shorts in NF?, If it crosses 5270
@ Viren,
RIL is attracting good volume from the lows...Notice it..!
@Viren,
Could you explain the logic behind 5274 as SL?
Best
Ilango and Friends - I must feel blessed to be so. Thanks for holding the market in my absence. Now you people must be feeling how tough it is !!!
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One Big Thanks to Sujatha who directed me to attend a TA Seminar at Chennai. Thank you friend. It was time worth spent.Sorry didn't revert early.
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Babu - Have seen 180 level in JindSaw. But this is its strongest leg in recent half year. Will hold my 219 Short - will go with your view.
TCS - Short is still on. Any opinion please?
aioo... every one is watching that much closely monitor??? no one is talking :)
sir so should we take our shorts home or not
@RG
I am with you :) Jindalsaw,TCS,TISCO,Suzlon,TATA MOTORS & nifty in short. Nifty thinking to part booking. Unitech is in long. for stocks my broker call is carry. so going to do the same
@manoj 5274 is a Pivot high in 5mins TF in Nifty Future.
Illango,
Yes increased volume.Looks like 1068 in the spot.
ManojJog,
It is 2 points above VWAP.
3:00 clock selling , just like buying use to come everyday.
Thanks Rishi.
Thanks Babu. My Shorts are on hold. Keep an eye on Ashok Leyland, LITL. I am neutral on Unitek.
Just warn on TCS - your initial target was 750-right ?
illango sir i need ur fresh views about nifty...can we remain short for tommorow also
regards
@RG
Yes its 750.
RajaGopal,
Hw did the seminar go?
@RG
Forgot to tell you, broker brought down stop loss for TCS to @812(future)
Another day of loower high and lower low. So kee[p carrying shirts?
@ Vikram,
As "Low ema" @ 5241 has held, one round of profit booking on shorts will be right.
Viren - Seminar was on Saturdar (I am so fast in thanking).Now you read my wondering about your mail response time in this context. Today was on some cermony at home.
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Babu - Thank you.
Illango,
I see your point now.The POC in the future is now confirming it.1080. This stock is headed up tomorrow.
sir conservative shorts????
@ Rajagopal - Happy to know that "it was time worth spent".
Regards
Ilango Sir,
This is an open confession. I (I also know many of us) am holding a wrong short initiated at 5100 level. Last expiry did lot of monkey tricks and escaped. At some point I know I must accept defeat in the battle to win the war. Two options are 1. Average at next high resistance (risky) and 2. Book out at least Loss and reverse to Long to recoup. You have been clear - very clear in your analysis of the lower levels to be expected. Once please put a few NO one line where such wrong shorts could be exited and exclusive longs to cover such loss could be initiated.
Friends - I am on the podium, if there are anyone else, please note there is room here.
Bye.
Ilango Sir,
Due to internet problem, I didn't see your post:
"As "Low ema" @ 5241 has held, one round of profit booking on shorts will be right.
March 31, 2010 3:18 PM" .
I am holding my short in NF 5300. Is it any risk?
Thanks
Can someone post the link to the Market Profile studies and indicators which were discussed here quite some time back.
Thanks
Intra-day Trades of the day
Nifty long @5265 Sl 5260: Sl Triggerred (-5)
Nifty Short @ 5260 Sl 5272 Target 5234 Target Achieved (26)
Total Gain: 21 points
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