Asian mkts are coming off the highs and some are in the negative.
An earlier peak @ 5260 or Month high ema-5241(S2) are possible too.
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The rising channel may be drawn in a different way to. Accordingly, holding above 5285(Weekly pivot), Nifty may attempt to move higher towards 5 sma/ VAH(5341) or 5 day High ema+ but the climb gets steeper and difficult to keep up unless some consolidation takes place towards the channel bottom.
One could book profits on the shorts @ POC(5301) and go long and sell higher as Nifty is in a corrective mode till a weekly sell is generated.
27 comments:
Good morning Ilango Sir and others
I have done an analysis in tata motors and nifty. I am posting the links here thank you
Triangles of tata motors:
http://niftychartsandpatterns.blogspot.com/2010/04/triangles-of-tata-motors-great-trading.html
Nifty month chart:
http://niftychartsandpatterns.blogspot.com/2010/04/nifty-month-chart-technical-analysis.html
gm sir
short and very informative pre-market view..
pls amend typo of VAH in write-up..it is written as(5241)
Today nifty will close around 5325.
Good Morning ilango sir and other blogmates
-arpit
Good Morning all!
dear ilango
@ viren, rg,manu
gm to all blogmates
Go Long. Go Short. Net net go home Happy.
Good Morning All. Still travelling.
@Ilango sir and All,
Good Morning
My net is problem and not able see many of the comments and mails also for the last two days..
@Rajagopal
Videocon may be cooking up as presently their rights issue is going on. Right's issue price is Rs.215/-
@Gautam Bajaj
May 05 is astrologically very important as Saturn Jupiter conjunction is taking place...and whenever this conjunction happened massive destruction is seen across globe. will send u link
GM All.
----
Not surprised at all by this open. POC yesterday pointed to it.
Don't short.
We are above VAH.
Good morning Ilango Sir and all blog mates
Sir,
Just now I came back from out of station. Asper premarket view, I missed to book profit my NF short at opening. Can I wait for down trend, or close at present level at 5350.
Thanks
Sold @ 5345 Sl 5380 Target 5285
prashant sir,
if possible pls tell why???
Ilango sir, i exited my shorts at opening, now i m waiting to short @5355-75. If levels didnt come can we short again below VAL ie 5299?
Hi Viren...
" Not surprised at all by this open. POC yesterday pointed to it "
Can I request you to detail the above point ?
I'd be grateful if you briefly put in what's POC and how to understand it and use it ? Am sorry for the request.
Regards
Large volume at 5345 as morning buyers meet sellers at this crucial level.
GM Ilango & Mates
Ka,
POC or point of control represnts the area of highest activity or the point where buyers ans sellers agree on price.
It's considered to be the fairest price or the best value of the day.
In the context of yesterday, and becuase of the downtrend in the afternoon session, the shift of POC to the low of the day pointed to stong buying in the last 15 mins.
See the POC is near VAL.The only thing left was an open today near POC to ensure that nothing had changed overnight...
GM Ilango & Mates
Ilango sir and Mates, I bought nifty at 5340 shall I hold it upto 5375 today...
very nice....thanks a lot....can u provide any chartlink to monitor these ? How is it related to vwap ? or diff ?
kind regards
Ilango Sir,
Pl suggest me
Thank you.
hi..max pain for option is now shifted to 5400 strike price(Earlier it is at 5300)..dont go short ..its too early..wait for options movement..some unwinding seen in call options at 5400 and 5500(with increase in IV's) clarly telling us option writers covered their positions(since decrease in OI with increase in IV's)...wait for buildup in OI in 5400 call..then go short..
is there any significance to the futures being lower than the spot ?
gd
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NEW POST DONE
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Ka,
Check ' Vtrender' in Illango's My Blog List.
I try to put an MP chart everynight there of the Nifty and the Bank Nifty.
VWAP is Volume weighted average price, which is the average price per traded point volume dependent.
POC is the highest volume at a particular point.
Ok, thank you....
so can we assume the probablity of a UP opening when POC is around VAL, and flat or down when near VAH ? hope am not trbling u much with questions....sorry.
regards
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