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...
78 comments:
Ilango sir where we sud again enter shorts near hour high ema or at closing if
closes below 5 day ema??Plz suggest
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
testing.........
Gautam Bajaj Ji
Will you please let me know your blog , if any
Thanks
Bala
Ilango sir i will short on bounce or below 5250 with SL 5310.
I am asking as i m leaving for some work.
Thanks
@ bizagra,
"5260-5280" is a resistance zone.
5284 - Hour high ema & 5296 - Day ema are the other selling points.
Thanks sir
Dear Ilango,
Thank you as ever for the knowledge. My trading for the day is almost through. Remained short as per the over all trend and below is the result,as per the N-50 Table.
Scrip Name EstimateActual Status
ABB 797.52 799.90 Pending
ACC 891.02 888.20 Done
BHARTI 293.15 292.00 Done
BHEL 2439.73 2426.00 Done
DLF 309.17 307.85 Done
GRASIM 2788.39 2780.20 Done
HEROHONDA 1830.29 1840.00 Pending
ICICIBANK 928.62 921.00 Done
IDEA 63.84 64.00 Done
MARUTIUD 1258.76 1255.00 Done
RELCAP 727.78 725.00 Done
RIL 1045.15 1031.10 Done
RPOWER 155.16 155.00 Done
SUNPHARM 1565.51 1571.10 Pending
SUZENER 69.05 68.35 Done
TISCO 635.18 632.00 Done
WIPRO 687.91 687.65 Done
It has changed my trading style. I have made a small xls for my broker with entry,exit,sl and tsland sent to him y'day when I sent the file for upload. He has done the trading and confirmed position over messenger. Allows me to enjoy life better and my monkey brain is not allowed to interfere with the tech levels !!!
Thank you friend. Thanks a million.
nifty tested 61.8% of rise frm 5160.hourly o/s. probably more sense in taking
long for small target. if next hour close above
holr lema day lema view gets confirmed
Congrats Rajagopal sir
@ Rajagopal,
Rising & waning moon is a simile I can think of to monitor the Nifty.50 stocks. While doing so, the larger trend may be kept in mind at "OB" & OS" levels.
For eg: IN larger time cycle uptrend, More stocks reaching "OS" may be a time to "Buy".
But In larger time cycle downtrend, the same "OS" status may remain "OS" for longer time with brief sharp rallies.
TATA STEEL hourly chart updated here
http://tradingontechnicals.blogspot.com/2010/04/tata-steel-hourly-chart.html
Good afternoon Ilango sir and all.
Dear Ilango,
Thanks. You have responded to both posts. I will keep in mind the levels.
Rising Moon - Long. Waning Moon - Short. TA atleast ensures that I see the full moon or know it is new moon !!!
Thank you. I never beleived a few lines on a graph and tables of figs can define the market movement.
Rajagopal sir,
Very good ground work. You are reaping what you have sowed!!
Kallakareenga!!!
@ Satheesh,
Long gap..!
Gautam sir,
is there any other software available for radymade buy/sell signal for nifty
Europe flat with negative bias..
@RG..small dance to Europe tune and then?? :)
Thank you Amit. Very considerate of you to have taken the pains.
I will stick to your levels "short term" quitifiable?
Satheesh,Arun - just check it on paper. Long/Short based on overall trend. Not enough words to thank Ilango. Almost 15 trading sessions purely on this - to great happiness.
@ RG,
Over all trend trade – for intra or 2-3 days positional ?
GA respected illango ji and blogmate
just logged in ....sir can we initiate short for intraday around 5275 levels with sl of 5ema high
regards
vikram
assortZ : Wanted to ask Piyush - Euro -ve + Wed - suddenly if the market feels like obliging RG - is it ok to go Long ?
Piyush - just be careful.
Sir,
Can you eloborate on the importance of VAH,POC,VAL values.
Sam,
Pls check ilango sir’s reply to velvet’s comment in morning post..it will solve your query
rg sir
2652 has triggered longs. cant help .i dont interfere.
short closed at 5255 nifty long as per orb at 5265 nf this i can close
what u say
Ilango sir,
Children are on vacation. So mudhal kadamai -domestic duties
next trading!! just managed time to sneak today. I have sent
a mail to you yesterday regarding my absence.
PS : I admire you for beleiving and living by a "System". I am just learning it.
@ Vikram,
"5285 to 5295" are the likely resistances(10&5 ema)
You initiate trades as much closer as possible.
Sanju - you can find many at inditraders.com & traderji.com
Sir
I had to attend court. So did not short yesterday for aggressive call. the last 2 aggressive short, mkt gapped at oppen and we had to cover. so i thought today also i will encounter same kind of trouble. And with court hearing i did not want to take risk.
now nifty fiuture is not movting above 5270+. So can i short for conservative trade here at 5270 area ?
Bajaj sugar i am taking huge loss.
nifty 5-minute chart is showing negative divergence
@ RG,
Over all trend trade – for intra or 2-3 days positional ?
rg sir,
u humility is ur asset. u r a seasoned trader.
sir tells me to check ur file but ur file is so overwhelming
that i dont know where to start.i imagine how u made such
a complicated file.
i have very little knowledge (montessori student of ilango
sir's class) . i have litte to offer anyone.
assortZ - you are better equiped/knowledged. Otherwise it will be blind leading the blind syndrome.
It could be negative deep or sideways only in the eyes of an "fundamental trader". Unless Mr Obama has another speech aimed at NYSE !!! (We will help you. You be with us - were the last words).
ilango sir,
please suggest the levels to short BN positionally.
-arpit
Thanx illango ji...ok i will wait to short for levels....either around 5285 or below 5245
am i rite...and also waiting for 2.30 effect
RG sir what u say bout 2.30 effect for today
regards
vikram
@ KGovind,
Due to big "Gap down", the only trade available was a long at the open.
Now it is quite sideways. "5270-5295" is the resistance area.
I would prefer a rise to sell.
@RG,
Am always overrated in this forum..i humbly decline your comment on me that “equiped/knowledged”..
Ok, my clarification is that – to trade nifty on paper , based on N-50 overall trend – I believe we should look at it on intra-day basis and not positional… what was your approach in 15 sessions? ..
To be honest- I have been down loading all the files of yours and sundar’s but not studying anything since I do ONLY NIFTY…definitely will grab the great opportunities to learn in due course..
@kgovind
do not worry..i m also n same boat..and carrynyg fut.
sir suggested a positinl invstmnt..
i will carry fr nxt month..
chrts suggest tht huge loss wil b cvrd..
i will follow raja method to book ..
Dear Piyush - To begin with request you to overlook the first two TA sheets. Check the Vix action sheet, which is cumulative of the results. Filter on col "W" select up/down counters and check at EOD the levels actually reached against projected in col "I" and "J". A closer look at the first two sheets will make you laugh only - all these are the alphabets that the Master drilled into my head (which is floating in the vacum space).
Remember if you are the montesseri student, I am standing outside the gate after writing my entrance to be admitted into PRE MONTESSERI. Yes for my IQ level Ilango has to create a new syllaby.
@ arpit,
I had suggested a Buy from 9600 to 9725 for BN in the morning. And from 9725, it is falling.
Dear KG,
I concur with Manu. Please consider the suggestion. Sugar is bottoming out and a bounce back is certain in near future. At the start of the uptrend average at lower level buy and get out mid-day of existing cost (which will be in profit).
All the best.
"get out mid-day" meant mid-way
===
Sorry frineds. Back to my talkative ways.
Well I am watching conversation of Rajagopal , AssortZ,Piyush etc with amusement. I am just thinking, if adhoc professors in a college humbly say that they are in Montesseri, what should I say to myself. Looking for a peon job in that esteemed college. Will have access to all.
trailed SL in yesterday's short @ 5308 to 5255
Rajgopal - Do you use MA's for VIX? I use 10 & 20 EMA's on VIX
to check trend.
Right now trend is up which means market goes down
Long term trendline support is @ around 5200 breach of this
trendline may result in a bigger correction
will post chart tonite
Sir,
Your advice for bank nifty worked for me... part book i did and re shorted
thanks
Hi PIS - "Peons" are minimum matriculates (even Grads may be there). So you are better educated than ME.
===
GB Sir - I use 5EMA + Midpoint of the day - to check trend. Both must concur for a buy or sell. If they contradict, I mark it as "Not Known" - not willing to risk. Raider is the -ve FMACD - learnt (care trend may reverse).
Booked short @ 5225
@sir
wht wl be the strict closing nifty lvl fr
trend reversal for all longs
Eu is selling sharply..
@Pisreport
Can i too apply for the job.
regards
Sapna
@gauti sir
"Right now trend is up which means market goes down"
the nxt line is..2 buy
Sir
What to do with conservative now....S&R for shorts or still hold the longs.
@ KGovind,
Most of the actions were summarised in the "Pre-Market View".
"Sell @ 5260-5280" for conservative trade.
For intraday : Long at the open targeting 5267+.
manu im holdin positional shorts
will cover if mkt goes beyond 5280
manu,
ilango sir has said following in yesterday comments
// Break of day's low is an aggressive confirmation of the "Trend reversal".
Closing below 5320 is another aggressive indicator.
A close below 5290 can be taken as a reversal by "Conservative traders". //
also manu - it does seem like a big fall today.
lets see how Reliance n RNRL judgement goes.
I LANGO SIR
holding a 5200 pe april
is it worth holding
or shall i square it off
i am at levels after a huge loss of 300 %
please advise
thanks
r parekh r
@Parekh,
HOLD.
Sir
I am very confused. I asked
So can i short for conservative trade here at 5270 area ?
and your reply said I would prefer a rise to sell.
I took meaning for that as still more to rise before I can sell. I think I somehow misunderstood you. Very sorry I keep troubleing you so much.
GB - Is it going in RNRL way ? Calls are on for RIL Sale and RNRL buy !!!
Ilango sir, if NF breaks 5225-5220, can we expect more selling and go shorts... pl. advise...
on “goldman sachs” day, s&P fell upto 1187 9major support) and bounced from there… yesterday too it bounced in intra-day from same level but closed below 1187..another fall today might convincingly take it to 1160-1165..
@assortz
thnx..i m shrt n nifty but long in bajaj..
a trand rvrsl f d broader markt leads 2 u knw..
@raja /all
whn r bajab hind results
as mtm loss will be thr as levy sugar price
is not decided yet..erlier it is rs 13..
u cn see balarampr chini
@gauti
tks..
KG,
Don’t mistake me..all levels are based on price movement only..if we don’t get the levels to trade, then try to trade with available levels,.pls check pre-market view as everything is clearly given and the same is being played out today…we have to take risk of 10-20 points and should not wait for exact levels…I hope you will take this in positive way
@ Rajagopal
lol. I was looking for a job of peon, you banged me with minimum qualification. Nothing to worry, I will sell CHANA near the entrance.
@ Sapna
What impression I have about you in this ROYAL COLLEGE is that I have to call you Madam. :)
Sold @ 5218
@ KGovind,
Whenever we have prepared a plan, the toughest point is to "Stick" to it.
When you asked me that question, it looked as though there is a small upmove before the "drop".
You need to take the decision to sell @ a particular point as I would "only" suggest, guide. I will never make you "dependent" on me.
Be sure, you will get many good opportunities to trade successfully.
what a carnage
i EXPECTED this
but GOD , i bought only 1 PUT!!!!!!!!!!!!!!!!!!!!!!!
NEW POST DONE.
Prashant,
Sold at low levels..can you pls advise strategy behind it? Just for a study purpose..
mynac,
hope you are back for lunch:)
5250 offered good support in 1st session...what is your view now based on OI?
panic buying in puts
i expected this
as soon as i saw RNRL spurting like cats and dogs in the morning on HUGE VOLUMES
last time it did the same
then also market broke
sir can we initiate long for intra 20-30 points here @5200
pl. reply soon sir if you say yes
regards
vikram
GA,Dear assortZ / Every body,
Up to 2.40 another 54,000,00 added in Next series NF.Now everyone knows it that it is between 5276 to 5200.Tomorrow is the last day for this expiry and another apporx.5000000 O.I. addition is expected tomorrow.So now it will be interesting to watch that whether it will be added below 5200- 5150 or between 5200-5250 range.We shall watch it as well as Dear GautamB's given figures.
Dear ILLANGO SIR,
CLOSING ABOVE NF 5220 CAN WE INITIATE A LONG OR
DOWNTREND WILL CONTINUE
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