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...
49 comments:
Sir
Is 9760 a good point to short Bank Nifty if it heads there.
Regards
@raja
my frnd in uk ..n a hedge fund says v will
c shrt rcvry n india as germany ws frcd 2
finalized d amnt fr greece debt,,
lets c:)
Thanks sir,
Actually I confused with the the u drew to show retracement 5260
Manu - my friend says all FII profit booking is held back for the expiry. They are under pressure to book and may not hold beyond the first week of May. Aid to Greece is not the problem, the underlying AIDS of National bankcrupcy is. Next in line Spain,Portugal and the day Japan declares !!!
Decide and act on Bajhi - nothing favourable today. Better act early,forget and look forward to next trade.
@ hitendra,
I have market 9765-9785 as a possible retracement for BN. AT the same time an "abc"(3-wave) structure should also unfold. The pattern is more important and the prices may alter a bit.
Once we see the pattern, One should initiate "Shorts". 25% may be initiated @ 9765-9785 and the remaining on seeing an "abc" corrective upmove pattern nearing completion.
a 7.7 lac volume bar in 1 minute chart plz see.
in nifty future
GM All
Ilango do u expect a breakdown now? BB contracting..
or breakout up?
Yes Anil. @ 10.32 am for 5242.65 - anyone smell consequence ?
Hi gauti..
ur gold shining:)
ur chart vix tels a diffrnt story?
Looks like breakdown
hey Manu :) yes gold also formed IHNS..so breakout to 18 k possible
Anil - I understand it is a "Sale" - position exit or short I am not advised.
VIX suggests fear creeping in n expect fall in near term if it is a break out
GB : Go Long in gold at this level ? June 10g @ 17000 k ok? (I am an one day old infant in comm). Please help.
@gauti
wht abt balrampur chini ..still holding:)
@rajagopal
its difficult to conclude. but ithink a move above 5240 will definately good for long upto 5265.. and move beolow 5220 will be cheerring for bears..
The expected "pull back" came into our buy levels of "5210-5225".
Manu balram is long term - sugar prices need to move
up - give it 2 - 5yrs for 5-10 fold returns
Rajgopal - Gold expect $3500 per ounce now around 1166
/ 5400 rs / gm in next 3-5 yrs - dont buy fow a few months
Dec 2010 will touch 2200 / gm
Rajgopal also gold "may" correct to 1500 / 1350 odd levels
possibility exists and u should add at any dip
Rajgopal - go for ETF.. UTI Gold also called goldshare.
you can buy friom broker - not physical but exchange traded fund
Gautam, gold may correct 1500/1350? What do you mean? Gold prices are currently @ 17030. What are you referring to?
Hai ilango sir and others
I am posting the charts of HDIL. HDIL is trading near
the bottom of the channel. a good trading opportunity.
http://niftychartsandpatterns.blogspot.com/2010/04/hdil-channel-trading-opportunity.html
thank you
Sir
given mkt behaviour, i am going to expect only the unexpected. Since i have taken intraday long, i the unexpected is mkt going down madly.
So where can i keep my SL for intra long. Also still waiting to get short posn for conservative trade.
Ilango Sir, i have purchased nifty at 5228 with stoploss of 5215 is this right approch?
ETF's Rishi.. I sad "MAY" correct.. But with all the crisis
Looks doubtful
@ Avinash,
"5210-5225" was the buy level mentioned in the PreMarket view.
The first comment was to buy into a pull back as market gapped up and was expected to pull back. "5225" was given as a pivot & VAL was @ 5228.
Besides only "Small longs" were suggested.
@ KGovind,
You are approaching the market with negative feelings..Why..? If uncomfortable, do not do intraday trades. Keep only 15-25 points SL.
@ Nilesh,
You are doing right.
Thanks GB. ETF I focus on Gold Bees - is it ok ?
Thanks Anil - your levels are in sync with my Master's.
Rajgopal - yes goldbees, goldshare both are ok
DEAR RG SIR ,
VIEW ABOUT TISCO AND TELCO PLEASE
Smarty - TMF My day target 840 done. Tisco has nicely rebound from lows and trading above VIX high. I have read clear views of a friend here yesterday who said, a recovery upto 645 is possible before retreat to 625/603 levels - matches with Sir's also.
Just trading intra based on my VIX sheet - nothing Long Long (positional).
Sir,
Do not take it wrong. I have been trading poorly. Plus the huge loss in Bajaj sugar was sheer bad luck. Who expect a stock to go down from 240+ to 120 in 36 trading day. I will rebuy Bajaj sugar once this correction bets over.
I want to place SL and target order as soon as I buy or sell. This way no emotion will come into picture. Trading shld only get better. E.g. I have kept 5230 SL now. Target 5261.95 in May series. Also placed order for shorting consevatives.
http://www.niftylivecharts.com/
see buyer seller action here
ilango sir where to exit in nifty future plz give us level
@ KGovind,
Is there something that I should take wrong..??
Never use the word "Don't take it wrong". If you are unsure of your question, don't ask. If you are sure, simply shoot away the question. "That is one way to get sure footed."
All my observations are 100% honest & sincere.
Enter the "Ring" like a self-assured man. Forget about the past. Do one good trade a week, you will make it a habit.
Always good wishes.
@ mojib,
1st Target considered was 5250(Achieved) based on yesterday opening support acting as a resistance.
Intra correcting from "OB". If 5220-5235 holds, it may rally further to 5260-5270.
If it breaks 5220, may go below 5200 to 5185..
aha, KGovind,
guess i am lucky to log in at this minute for a fleeting visit.
And saw the sanest advice a person can give ...
This advice applies for all of us,
and would help a lot...
bye
this upmove should stop at around 5250-5265
daily low ema 5254
weekly pivot 5266
daily R1 5258
alos if u watch yesterday chart..it took almost 4-5 hrs to break 5260 levels..it took great support yesterday..only to break it downwards..
so i think we should enter short @ 5260 levels..
experts am i right..
Is it advisable to enter TODAY in 5300 Call for MAY series??
KG,
thanks for shooting question as we got "one trade a week" reply from master..timely needed advice for all of us...
got busy at off..hence no noise making from my side today :)
@ Paresh
If I understand correctly, we are using this corrective upmove for small intraday gain. Trend is down.
europe opened - flat with negative..
DISCLAIMER :am in shorts :)
euro again under pressure ,europe giving up gains.....caution!!!!!!
c.m.
DEAR ILLANGO SIR,
CAN U EXPLAIN US ABOUT TCS &INFOSYS
Europe turned green..As said by sir, if it holds 5220-5235, will try to enter longs for small 20-25 points gain (for 5260/70)
IMF WARNING BRITAIN COULD HEAD GREECE WAY !!!......Tend to agree with RG that the panic will happen in next series ..5200 put writers will support today.
c.m
New Post Done.
A day after ratings agency Standard & Poor's downgraded Greek government debt to "junk" status, the 2-year Greek bond yield rose above 22%, 10-year yields were over 900 basis points above German ones, and Greece's Capital Markets Commission banned stock short-selling.
"The chances of a default by the Greek government are increasing not by the day but by the hour. If the IMF and European governments don't come up with something quickly, then I see the market going down further quite rapidly,"
==update circulated.
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