For the immediate trading with "hour time cycle" 5140-5155 as a support & 5225 - 5240 as a resistance zone. Indicator such as the one below-14Hour Rsi may not show an exact bottom or top but "indicate" a likely arrest of a down move or an up move. Once a trend is established, their utility is limited to "divergences" only and don't rely on them for "OS or OB".
Should we hazard a guess of a likely trading range for tomorrow @ S1(5180) & R1(5240)..?
The more "Still" you are, the more "Clarity" you get into market insight. One day success or one day failure should never affect you. What happened today is "history". Just follow that price..nothing else matters. Make your plan. As I have mentioned earlier, Keep the likely numbers for you ready with you..then the trend & its time cycle..the intra charts and wait patiently to initiate some excellent trades as it happened today..the low ema..Manojag confirmed it by stating it as "5191"....for a long trade ..so did many stocks.
Viren then put in his VAL @ 5257 to initiate a "Short sell" which we missed on Friday being in clear uptrend on that day though in its 5th of the 5th.."Manojag" followed it well.
I still feel, if we can follow a simple TA model, then use other facts such as OI, astro, EW, indicators, etc as "Confirmatory factors", we will do well in the long run.
As a modern day warrior has a variety of arsenal, there are many such "Strategies" to be played out at different junctions of market action. Keep them handy to put to use. market tests our patience...there is always 1 or 3 days of delay after you sense a reversal..At such times, stay light to have some sanity. An empty space in your head which does not have opinions will attract the market sense automatically and you will be guided well.. But please...Stay still..
8 comments:
Dear Ilango,
Your PreMarket and After Market Review = Complete Satisfaction.No Other Words.Thanks..
"Stay Still" - Simple but Strong..thanks for excellent write up..
Hello Ilango,
I must admit that you have some gems in your blog now. Quite interesting discussion on OPTIONS TRADING.
Some language reminds me about someone special......
GN
Value areas for tomorrow:
5225-5235-5243
Just have a feeling that downmove is still to start.i will go for 5170 on closing basis for the downmove till this series ends on thrusday.
Normally a series like this with shorts build up at every level doesnot obligies them to coverup inlast two days.at the most it may be rangebound around 5200 levels.
Though the prices have closed below close ema and broken the rising wedge support at 5220, tommorow's trading will give a confirmatory sign for shorts.'viren' values with techtable should be closely watched .as Ilango sir has put it clearly-- "What happened today is "history". Just follow that price..nothing else matters."
GOD must also be thinking- "Blessed are those who are hedged, for they dont trouble me much."
RV9
//GOD must also be thinking- "Blessed are those who are hedged, for they dont trouble me much."//
ha ha good one
sri
Mok Sir,
Thanks for the link given. The combination you have given, like that , whether , we can do ( in that blog left side some 10 parameters are given,for my requirement you have coined and given) how to write . My email ID is sundaribala2008@gmail.com. Yesterday , you have given very useful learning things like option in the comments. Will you please send me that to my mail id and any other materials (because cut and paste and save is not working when I tried ).Thanks for the people in the forum
Some of the people may also give some brief write up abut how to read the balance sheet and annual reports etc for the lay man
Thanks once again all the people
Bala
bala
plz, dont call me "sir"
we are all colleagues here.
Only MrIlango, we distinguish for what he is...
I have sent you some files.
I dont know which parameters you refer to.
with regards.
mok
http://www.quote.com/global/futures/chart.action?s=IN+0H-SGX%3D2
check the above link for Singapore Nifty.
Right now it is at 5240 approx.
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