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...
7 comments:
Dear Ilango,
Now Market in very interesting mode.Fut.Nifty beyond 5200 with decreased O.I. and still not significant Nifty rollover in next month, means from here trading should be cautious. Now want to see these possibilities 1) whether Institutional rollover will be at these (High) levels in coming days? OR will Nifty come up to or slightly below 5000 before expiry, a much awaited correction for rollover i.e. fuel to play for next series. Now a days from last few expiry it is observed that The Serious (Institutional) Nifty Rollover used to take place just 3-4 days before expiry.
Ilango,
The 'B' looks like a flat correction and the implications are that it should have a post pattern implication of 'C' having a target of 100% or 161.8% of 'A' added to the end point of B.
'A' IS 313 points and assuming 100% then adding this to end point of B i.e. is 5148 we get a target of 5461 on the nifty or it could even go upto 5654.
Dear Mynac,
(further) non-TA observation - last two expiries have happened on positive note. Even the much talked "volatility" was absent. I understand that our market VIX is down and stable. Really interesting - none of the stock moved into OS zone and most of them traded below their 30/14/5 day volume averages. Added to it RIL's infatuation re-kindled on foreign aquisition as reported today.
A drunkard running through dense traffic that too with a blind fold ?
so i won the toss today (god knows how lol) but as i still play without pads, gloves or guards (means TA) I hv selected to field (holding 5200PE and 5200CE.
Dear Rajagopal,
GE.You are absolutely correct "last two expiries have happened on positive note. Even the much talked "volatility" was absent".
If you will see last expiry then you will find out that on 23/2 the Nifty Fut.intraday range was 4832.30 to 4887.40 and O.I. was 11101600 and on the day of expiry 25/2 the range was the same 4832.20 to 4875.35 but O.I. was 21565550.Almost addition of 100% O.I. in just 2 trading days within the same range.And gave a close in the upper band of the range and that was 4859.75.This 4830 to 4880 range was decided/visible in just last 3-4 days before expiry.That I want to say.Let the market confirm its range in practical,and now a days the range is visible when there are just 3-4 days are left for the expiry.
Hi..Mynac,
When I look at one chart, it says a 5th will end around 5245.
When I look at another, supported many stocks' reversal, it looks like a 5450.
To keep this uptrend intact, "5150" holding may be relevant.
Hi..Manojag,
You have been studying it correct, supporting it with certain compelling reasons. As I was trying to label the "Hour chart", I felt the same way.
Hi..Paresh,
That is a good toss to win.
hi..Rajagopal,
You are right about the "Volatility" expressed by VIX which has been down & stable which is iading this uptrend.
Dear Ilango sir
can u comment on this statement {{{2 CONSECUTIVE CLOSE ABOVE 5184 WILL TAKE TO 5309}}}}
today we got the first close above 5184 lets see what happens tomorrow but I am 1000% sure about this.
Besides every thing else this is march ending all mutual funda wallas and insurance wallas have show their NAV highest that means last thursday of march market has to close above the last high which is 5309 seniors please disscuss on this !!!!
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