Retracement strategy, a must for traders.
Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor...
-
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...
80 comments:
Ilango sir,
Do you suggest to go longs or continue with the short?
REPOSTING
=========
Ilango Sir,
Can I wait for 5200/5220 levels to book profit for my short in Nifty future initiated at 5300 or exit at present levels?
Than you
=========
Sir,
Yesterday I too had a short position @ 5305 at trendline break. But eod with slight adjustment it looked it is still within trendline. We did a similar adjustment is daily at 5160 few days ago. Ur evening 1 min chart also showed tl not broken. Today opening had confirmed that it was broken. How to draw more fool proof trendlines sir??
Reposting:
=========
Amit - My TISCO expectation was 635 for today and got it. Do you see bounce from 632 or lower level possible ?
Please advise
hello ilango
what is today open price
tsrini74@gmail.com
@ Prabhakar,
Larger correction is ON. I have suggested to initiate "Long for intraday only" as such sharp falls during uptrend(Nifty has closed above 5-ema yesterday) results in a bounce back. It can result in continued uptrend or a close below 5-ema(5296) to signal a downtrend.
Since you have not booked your "Sell" at the open, I suggest you hold on to it with a SL of 5310.
A senior broker advised that : "Huge longs are awaiting profit booking. It will be done only after expiry and 5100 levels in Nifty is highly probable soon after expiry. Do not initiate any big long positions till a firm trend reversal is seen. The position may get murkier for us if more bad news originates from Europe - Poland,Spain..."
Let's just take note of it. I found him to be a very cautious and conservative trader.
@ Piysh Sharda,
Different time frames has different levels.Hour trendline has broken clearly yesterday @ 3.00PM itself.Besides the trendline was rising by 10 point by the hour which was unsustainable at "OB" zone.
Besides these, BN & NIfty has closed below High ema the day before. Nifty's weekly close was also below "High ema" for few weeks now suggesting continued correction. The move from 5160 to 5340 was choppy with a 3-wave structure. Often I have come across "B" waves ending upruptly.A bit of aggression in some trades will be rewarding.
Sundar's & Rajagopal's files also show many stocks trading below High ema and some even below "Low ema".
Ilango sir,
Do u expect nifty to go above 5285 intraday?
Thank you Ilango Sir.
Dear Ilango/Blogmates,
Good Morning,
Thanks. For me this is the result of your teaching, sharing ones thoughts with good people, to whom you respect and love very much without meeting them in person.
P.S.
Dear OoT Rajagopal, thanks. I have also taken the notice of the same as well as Dear GautamB’s last night comment. Now a day still learning to look forward beyond only day trading .
@mynac,
You have great confidence to give input about just 50 points down in nifty after seeing -150 in dow ( at the time of your comment last night..i was there:))..
Your 5305 input gave good support for 2-3 days and as pointed by sir, 5250 level-so far so good…can you please narrate how you squared at 5250 level? On volumes?
Hello GM!
It seem's I was posting to myself in the previous post :)
Sir,
Did one more Mischief. Went short on TISCO @ 601 and rescued it to 640 by throwing some good money after bad. Now it is at 635 levels, do I take it or can expect lower level for this expiry. Sorry - did the short on "Call" much earlier.
Check out my dates 28th April, I said that something would happen!
Watch Nifty fall upto 5th - 7th May.
New high on 7th July
New low on 9th Aug & 8th Oct (possibly 3900/3600?)
We may fall upto 5150, 5050 or even 4950 by 7th May.
Short n sleep :)
Sir & family
GM
i hv nt kept a sl in
bajab h as it s in OS zone still with +ve divg..
but if the broader market will nt support thn
hw shld i trade..
seems i m prejudice..
and Hw v cn say closing below 5250 is trend revrsal
@mynac thnkx fr mangoose short:)
@gautam
Hi
Hi Manu :)
Hi GB - GM. No. You were posting for all of us. Great observation, which was much appreciated by my Broker friend who viewed it. He is like Ilango to me - very sane.
Thank you for the knowledge.
@ tsrini,
I have taken 5239.35 as the opening price & 5235.9 as the low.
NF low is 5250.
Manu i've put up some supports for nifty - watch for their breaks
when2buy.blogspot.com
Dear assortZ,
You are requested to read last page comment by Dear Analyst - Anil .He has described it in proper Tech. language.
P.S. Dear Analyst - Anil ,your day before predicted 5309 low for NF is /was appreciated .
Hey Rajgopal sir :) Glad all these dates helping out.
Ilango's levels are to the T
GB,Mynac - any chance the "Expiry" will be postponed to 7th May ?
Market can turn things around very quickly and prove us
all wrong :)
LOL Rajgopal :)
You can carry forward your position for next month
@ Rajagopal,
Tata steel can test 624-626 before a small rally.
Dear OoT Rajagopal,
Nice one."Did one more Mischief" Thanks and bye.shall join in latter session.
GB - Thanks. Did not contemplate it. Thanks for the suggestion. I have never done it earlier. Many of our friends must be aware. Atleast for my sake please advise the consequence - what happens to current loss in a c/f to next month transaction?
Sorry.I don't know it.
@ mynac
Thanks buddy for your comments..really feeling glad on this beautiful blog..
Even a close at 5200 means that we've completed abc corrective and then move up
so watch out for that.
Rajgopal just close your position on expiry and take a
position for the next month. You may gain / lose by a couple
of points
Dear Anil,
Do you concur with HMV on TISCO ? Expected level for this "Expiry"
(u cud have missed my earlier quiery on the same)
the gain or loss will be the premium / discount that
nifty is trading at for the next month expiry
SL for shorts will be 5300
T1 - 5230 - achieved today?
@ gauti..
a big dwn day n 28th?
it dsnt seem to be..shifted 2 may 5th?
MAY 2001----NIFTY UP
MAY 2002----NIFTY DOWN
MAY 2003----NIFTY UP
MAY 2004----NIFTY DOWN
MAY 2005----NIFTY UP
MAY 2006----NIFTY DOWN
MAY 2007----NIFTY UP
MAY 2008----NIFTY DOWN
MAY 2009----NIFTY UP
MAY 2010----NIFTY ??????
Manu - I said that 28th is of importance. Nifty to be at it's lowest by 5th / 7th May
@ raja ji..
may 04, may 06 wr dwn circuits:)
@Rajagopal
It appears to be a simple binary equation - 0,1,0,1.
:)
I also mentioned we may see new highs by July 7 IF we dont break 4950
@RG,
Mumbai has won almost all match in league and Decaan didn’t loose last 5 matches before semis… but champions were none of them… :)
Fyi, am with SHORTS and would be happy if your binary equation follows the same trend.. :)
GAUTAM BAJAJ HOW YOU PREDICT THAT DATES AND LEVELS CAN U PLZ GIVE SOME FEED BACK WILL IT WORKS FOR INDICES AS WELL AS STOCK ALSO
Hi Raj - I use Gann dates - various tools available
google is your friend.
Gann Sq of 9 / wheel etc. They work very well
Take a look at this video :-)
http://cts.vresp.com/c/?GannGlobalFinancial/8a2701a707/d9b2b8bbdd/4005e9c5b2
Can be applied to stocks. But you need to check if these are cyclical
News can affect the stock. So it works better for commodities
and indicies.
Levels are estimates based on my limited EW knowledge
Data sent by the dealer.
rm-hi.
assortZ:Mumbai lost 1 match in league. Just check their previous loss and loss in final (number of matches diff - loss in every ? match frequency).
gautam sir,
in ur blog i cudnt find studies u have used for ur calls
Piyush were you looking for some study for calls? What kind
of studies do you want?
I will include going forward.
Avinash,
http://tradeinniftyonly.blogspot.com/search?q=tech+table+explained
for your last query..
i hope this link will help others too who have doubt on tech table
Avinash - Amibroker has some tools, Another good one is Gann Analyst
GAUTAM BAJAJ PLZ GIVE US MORE INFORMATION ABT GANN SYSTEM AND INCLUDE SOME EDUCATIONAL INFORMATION IN YOUR BLOG AND ALSO PROVIDE SOME OPTION SO THAT ANY ONE CAN GET LEVELS OF ANY SCRIIPT AS PER THAT SYSTEM
so kind of u gautam sir,
but if u see here u have some informative links
which we can read and reread to get some understanding
of ilango sir's methods
similarly if we cud have some understanding of tools u follow
@RG,
of course, one of the main basics for TA is “ pattern repeats”.. Surrendered…
Raj - Tricky one. I can post the educational information.
About analysis of individual stocks. This is not an
automated system - but requies some historical study.
As i said it works well for cyclical commodities and
indicies
Thanks Piyush. Good inputs. I will include over this weekend
hi to all
any inputs on reliance for today?
GAUTAM BAJAJ I HAVE DONWLOADED GANNALSYT 5 FROM WEBSITE BUT IT NEEDS DATA TO FEED IN IT CAN U HELP ME GETTING IT AND PROCESS FOR IT
@OoT Rajagopal
i think u had addressed ur query to amit..
if i am right..
@RG,
And two best examples for “ pattern repeats”..
1. South Africa & semi finals
2. Tamil nadu election results
Raj - add me on Gtalk - gautam108
Will help you post 6 pm
hi all @ n good morning to all and Sir....for gann squre 9 for intra trade go with this site ....http://www.gannsquareof9.stockmaniacs.net/
Dear Anil / Amit : Struggling with bad net link.(hence unable to check) One of you posted about TISCO today - hence thought of checking with you, before went to my master.
Ilango says "625-" - just check your tech whether the same is possible for this expiry?
Hi Rajagopal,
Tata Steel is oversold as per Stoch & Williams%R.. a small bounce back up to 645 can be expected.
minor support is at 625 (70 EMA) below which 603 (100 EMA)
Gautam sir,
what about amibrokers ace nifty futures trading system. is it good for radymade buy/sell signals
Ilango sir where we sud again enter shorts near hour high ema or at closing if
closes below 5 day ema??Plz suggest
Thanks Amit.
Which means better to take profits for April Short and wait.
(My calculations are for Intra only).
NEW POST DONE
Sanju - ACE is a waste of money.
Dear Ilango,
Please respond at leisure.
You highlighted the OB status as per my and Sundar's files. If N-50 constitutes the NIFTY, is the key hidden among this tresure ? i.e. we can approximate the NIFTY movement based on the cumulative Up/down movement levels of the indivitual N50 ?
Is it worth a try?
Ilango sir,
Conservative longs - still in place as S&R is changed to 5250 now ...and we will enter conservative shorts if 5250 is taken today..
Aggressive longs – taken at 5245 and can close the same near 5265-70 or can wait till 5280-5290..
Conservative shorts – can consider if nifty convincingly trades below 5250..
I hope above understanding is correct
any support table for reliance? , because it can help in deciding nifty support
I am holding ZANDU Realty 3 Nos. @ 5650 now cmp is 3560 what to do now? technically is it good now ?
@ Sir
today JSPL is also down 15 Rs. Any good level to buy as i missed it previously.
Gautam sir,
is there any other software available for radymade buy/sell signal for nifty
Mr. Elango
I am holding ZANDU Realty 3 Nos. @ 5650 now cmp is 3560 what to do now? technically is it good now ?
Post a Comment