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:
Sir can we take a short here with sl of 5340?
viren sir,
what r chances of market testing vah now
@Ilango sir,
PL.accept my sincere thanks for providing space in both of your blogs today.Happy to note your 'critic's' choice of Rcom on 'StockWealth' blog.
My method of analysis is developed as a student of your blog,still learning---- ,
Your astute guidance and appreciation instills confidence in analysis and trading.many thanks to u.
regards
Piyush,
We are drifting again like thursday.So chances of holding Value high are good.
@ Musti,
There are no negative divergences in 5-minute but the "OB" continues.
It would be an aggressive sell near the upper range with a small SL.
"ORB" NF is down. But spot holds 5315 lows of the day.
@ Piyush,
Anything is possible at the present conditions.
@ aarvee,
You make my work a lot easier after a "busy weekend" with my son. Thank you.
@Ilango sir,
the pleasure was all mine, i am honoured,the postings have served a bigger cause.
thank u sir,
sir i did not notice the conservative buy given on thursday.
i guess we r in process of forming negative divergence now
Sir I have a question I don’t know will it be possible to answer during market.
When prices rise fast after that they form, rectangle,flag, other consolidation formations. At that time the indicator falls. We will call it as negative divergence but most of these patterns are contuation paterns and 75% probability of upmove. How to resolve it?
When prices fall, the indicator goes negative, again indicator goes deep negative, it rises in consolidation formation. We can call it positive divergence but prices continue in same direction. What to do????
Ilango Sir, In stockwealth, bank nifty sell is suggested at 9585 to 9630...Does it mean we can go short at these levels ? Pl advise. Thanks.
@ Piyush Sharda,
The safest way to resolve this is:
When the trend is up (as long as stock/ index makes HH & HL), use dips with +ve div to buy.. Similarly for downtrend too.
The other method is to try to label EW and avoid -ve div in the 3rd waves.
@ s,
Around 9600-9630, they would be highly OB. That is all. As mentioned above, do not short a uptrending index/ stock but buy into corrections.
There could be minor divergences at these highs and such situations can be traded intra only for small gains in a shorter duration and it should not be held longer unless price confirms and continues to fall. Markets have to make some topping formations and until that happens, "shorters" should restrain themselves.
thank sir
Overhead res playing out.
Weakness coming in.
Correct to " Some weakness coming in".
Tape still strong above 5320 and VAH.
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-ve div in 5-minute....Chart uploaded.
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Future at par with Spot, Doubt regarding upsides persists
Dear Blogmates,Good Afternoon.
Nifty Fut. Intraday Movement 21 Points.Addition in Nifty Fut.O.I.1500000.Reduced premium in Nifty clearly indiacates that some big players are shorting Nifty here,who has the ability of selling in CASH too.( and to pull market down as well)Market may go further up from here but it needs lot of fresh buying above 5330 to 5360 then only it shall sustain otherwise...... in coming days.? From the activity it looks like that the last half an hour shall be deciding today.Whether bulls will force bears to cover their shorts above 5360? We will wait and see. till then Bye.Thanks.
Good obs Prashant.
But the options mks is prcing a 5 point premium still.Let's see.
ANY ONE HAS INFO ON DLF
Hello to all from a Vagabond.
Hi aarvee9 - nice you didn't lose home address. Great pleasure to see you with a lovely post.
So long...
Ilango sir, conservative longs still intact even after -ve divergence in 5 min chart??
@ bizagra,
Conservative longs can keep Friday's low of NF5280 as a trailing SL to protect the profits. More aggressive would be 5325NF.
Sold @ 5336 SL 5345 Target 5315 (NS) for intraday
Ilango sir, i booked my longs. Now shorts only below 5235? Is this right approach?
@RG,
Thanks,
hope u completed your tour,if moving still then all the best
dear ilango doji formed in 1 hour chart, is this sell signal?
Ilango
i must i hv missed a post i think.
when did conservative short's sl get triggered & when was conservative long triggered.
Price movement is suggesting a move to 5376-5394, but 5346 needs to be conquered.
exited short @ 5340 & long target 5350 Sl 5330(NS)
@ learning EW,
On 31st at 3.20, I suggested to Vikram to close shorts. And in 01st April Premarket view, it was suggested to initiate longs.
http://tradeinniftyonly.blogspot.com/2010/04/nifty-premarket-view.html
Hi..Prakash,
"Doji" candles are "indecisive" ones. Hence, look for the follow up candle.
Ilango sir definitely gave a buy on friday for a stop of 5280(NF).
hello friends
what is elabration of vah val and poc
syamala
though it was for intraday, one should have held on to it seeing the firm close. I had also bought @5272 on friday and holding to that position. I had a target of 5400 in mind (posted on friday as well. Let us see what happens
Ilango/Prashant
sir i knew u would hv gvn thats y i wrote that i must hv missed a post.
i hope u didnt tk it as if i was doubting u.
we may witness some short covering now.
5340/45 is a stiff resistance and may be overcome with the help of some short covering. we r in the zone of multiple resistances(5345/5360/5380) But by staying above 5300 for some extended duration now, we may breach these.
@ Bhavesh,
Yes..Midcaps have started to out perform in this round.
@ Syamala,
There is a write up on "Market Profile" by Viren , explaining VAH, POC & VAL for trading purposes. You will find it in "Technical Analysis" in "LABELS" section.
I have often observed that when we get a gain of over 200 points on sensex in pre-noon session, it goes on to gain 400-500. Alternatively it sheds its gains. We may speculate the first scenario today.
Almost 40 % added in 5300 PE today.
@ learningEW,
No misunderstandings. Infact, this was discussed in most part of 01st April initial session.
@ viren
it means that the market may be forming a new base at 5300
Yes Prashant.This market definitely wants to go higher.
But I'm wondering wheher it will take a detour to 5308-5312 before it moves up. It's possible if 5346 is not taken out.
hi sir
which wave is still running in nifty ?
i think 4 of b am i right ?
plz also say abt bank nifty which wave is still run ?
regards,
alpesh
Prashant,
Your shortcovering is here.
From a day-trader point of viewThe afternoon session is very crucial where any of the following scenarios are possible:
-An extension of a trending move
-shedding of gains and breakdown
-A recovery from lower levels(through short covering)
One should be ready for all of these scenarios. The session is characterised by sharp moves on either side.
If we have a look at daily chart of past months, we get an idea of all this.
rajagopal has already spoken n times of the 2:40 factor. But it is infact 1:30 factor
Sir where we should book out our longs as hourly is seen over bought?
@ alpesh,
Waves are extending and there are running corrections.. Under such situations, follow the "Channeling" and trend validity(HH & HL continuation).
In many stocks as well as in NIfty, a 5th wave seem to be unfolding.
@musti1780,
Closer to 5400.
I have given earlier a trailing SL of 5325NF.We can raise it to 5338NF now.
sir and family
ga
sir ..
y ths 5th wave so tedious..is it really unfolding(plz tell me frm whr )
Good afternoon Ilango sir and all
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NEW POST DONE
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sir pls update on bajaj hind also thanx today it is up
booking intra long woulld be better my view.
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