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...
25 comments:
@ilango sir,
Short at this level ? Or wait to go below 5250 ?
gd
@Bizagra,
Sir told me stop loss for conservative shorts is 5270.
Thank you.
Ilango sir,
Holding shorts@5190 from yesterday..my SL is at 5305 on closing basis..i hope this is fine or should i revise my SL to 5270 as suggested by you..it's positional..need your guidance
@Bizagra,
After confirmation, can I know your stop loss for NF?
Thank you
During downtrend, when there is exhaustion sets in after moving far away from the emas, the first attempt is to close above the low ema.
It has done that only in intra. Closing is still 3 hours away. It has also attempted to to touch the 5 day ema(5266) but could not do so so far. Hence, I have given 5270 as SL.
Two day high @ 5283 also can be used as a SL.
If Nifty holds 5235-5240, it can attempt another day's high.
A close above 5-ema(5266) may be taken as a closing SL.
@ Avinash,
It should be according to your plan and the quantum of SL you are willing to take in a trade. Your trading plan parameters can be revised based on the new price unfolding.
I feel one should trade by taking only a small SL, thereby even if he/ she goes wrong many times, one good entry & sitting tight will average out into big winnings. Here again, one can choose to sit out during multiple scenarios.
My experience has been that "after getting confirmed buy/ sell signals, the few trades one gets in a month gives him/ her great returns".
Sir & family
GA
somebody defned SL as discplined introspection:)
Dear Ilango,
"My experience has been that "after getting confirmed buy/ sell signals, the few trades one gets in a month gives him/ her great returns". for even a day trader."lesson for even a day trader like me.Thanks a lot.
20,00000 O.I. intra day addition in nifty fut. is significant at this moment.It shall be really tough for bulls to carry this load up to 3.30 p.m.Only short covering or fresh buying can nullify this load. Short covering is not visible at this moment.We shall witness the drama because 5200 PE is also very much active today and intra day addition of 600000 in it's O.I. looks interesting here.Bye,shall try to join in latter half though it looks tough today.
@ Avinash,
It can not be an Island reversal because Yesterday's high was 5217 and to day's low is 5212. Though it gapped up above 5217, it has filled the gap immediately.
An Island reversal should have the price distinctively above the "Previous period's" prices.
hi
sir,
plz put some suggestion on bank nifty at this level ?
regards
alpesh
Hi Mr. Illango,
As per your analysis I'm in for short in Nifty {2 lots} @ 5255, so what would be intraday target???
Best Regards,
Sirisha G
Hyd
@Prabhakar
I am keeping 2 day high 5285 as SL.
hi sir,
plz put some suggestion on bank nifty at this level ?
regards
alpesh
sir i am still holding bank nifty sell at 9480 so whats sl put ?
plz give some suggestion
regards,
alpesh
Thanx a lot Mr. Avinash,
Actually I couldn't go through pre market view, so I was kinda confused.......
Best Regards,
@Bizagra,
I think 5285 Nifty Spot.
yes Prabhakar
Dear Illango
Thanks for putting up my chart in your blog!
Its an honor indeed for me!
A nice read for fellow traders:
http://www.optionaddict.net/blog/2010/4/14/adapt.html
and an update from my side;
http://tryin2trade.blogspot.com/2010/04/nifty-future-update.html
Cheers!
@ alpesh,
Bank Nifty moved above "High ema"(9491) and getting sold off.
Closing above 9398, it would be "Buy the dips".
Currently, it is correcting from above high ema.
Have the day's high as your SL.
Thank you Mr.Bizagra
@prabhakar my name is Anuj.
@ Ilango sir
Sir as 5230 broken can conservatives keep new high as SL for today.
Thanx Mr. Illango,
I followed your suggestion & shorted Nifty & I got my piece of cake
Thanx a ton....
NEW POST DONE.
Yes..Bizagra, Now the revised SL is day's high.
DEAR ANYONE
TCS (832.90-796.55)=36 THE RESULT ALSO GOOD
CAN WE TAKE A LONG HERE ANYONE SUGGEST PLEASE
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