Monday, April 19, 2010
Nifty trending down with short term near "OS".
Holding "5175", Nifty could rally towards 5ema/sma(5260+). There are many possibilities of counting the waves and they don't help much now at this juncture. I am awaiting the market to show its moves..5240 to 5265 are the resistances and 5175-5185 is a support, break of which a more reliable support comes from weekly channel @ 5090(50 & 100 sma). Only a new low preceded by a rally could develop into a divergence trade. More time it takes to get to 5090, it becomes a correction and swifter it is, it could cause serious damage.
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...
12 comments:
Hi Mynac.....i saw you writing this y'day - " As a day-trader, for Monday, 5196 to 5205-9 is very important for me "......you were spot on !!...market struggled alot at those levels.
Can you please detail as how you zerod onto that levels ?
regards
any body please;
with illango sir's excell sheet , using constant for 5 ema,10 ema,12 ema 26 ema etc i calculate these values with last 10 days of data from nseindia site. there is a difference with these value with my calculated with. is it because i have used just last 10 days data. ?????.
please clarify me.
Dear ka,
Good eve,
First off all let me confess you that now a day I am learning TA here so you are requested to take my answer accordingly.There might be mistake in my technical language.
Yesterday there was a 1st class example of Detail Analysis by Dear AAR VEE. He mentioned these three figures 5180, 5190, 5196. 5196 is Weekly low ema. That’s why it was important. And 5209 was the 61.8% of the Friday’s 5294.80.
It’s my thumb rule that when there is a possibility of Major fall (As we witnessed today) above 61.8% become as an important figure.
Previous 52w high (5180) as Dear AAR VEE mentioned yesterday will be important for tomorrow’s trading for me.
@All,
Looks like the Wheels of Fortune are slowly turning in favour of the “Prophecy”.
Take caution and trade as per levels mentioned by Sir in sync with Weekend analysis
@mynac,
I hope that 5200 now may give way.(I have small TA of open interest supporting it now)
check 5300Puts unwinding VWAP and addition of 5100 Puts.
Looks like they point to reliable support as of now below 5200,nearer to 5100.
FII on sell side today.
@Sri,
Hope u read the summary of unused calculation sheet in detail.
Dear ka,
As Dear Ilango mentioned above "5175 holding....."
And "5180 as a ...." yesterday by Dear AAR VEE has its own importance for tomorrow as a day trader for me.
For me they are my teachers so I just try to study the figures given by them as an obedient student. Nothing else.
P.S.
I used to look at market in day trader's angle only.
Dear AAR VEE,
Thanks.Point noted.
Good evening Ilango sir and others
I am posting the ACC chart here. ACC is very close to
breaking the triangle.
dr. saurabh had asked me to update ACC charts.
I am posting the charts here:
http://niftychartsandpatterns.blogspot.com
Thank you
@mynac
Teacher??? me!!!!!!.
Let me remain only a student of this blog ,if u are my wellwisher.(and i do not doubt it dear)
@mynac,
I was going through the comments of today and found one of yours in the end mentioning 5200 puts.
I have previously also cautioned that figures are not updated real time on NSE site.The 5200 puts that might be showing addition till 3.30 changed to slight negative EOD.I have even observed figures changing after start of next day's trade,even sometimes EOD figures are wrong.
Pl. be very cautious in following them in realtime ,they may give wrong signal.
dear blogmates and ilango sir,
i want to thanx all for their contributions and really its a nice learninng place.
it is doing wonders.
Thanks Mynac for your concern to clarify me in detail.....and AAR VEE, meticulous research &contribution...thank you !!
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