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...
48 comments:
Sir & Family,,
GM..
@ RG
Bajaj hind 2dy..u postd/declared it earlier:)
What is happenin with health care sector ?
no hurdles so far !!
Dear Manu/Anil,
Just check the end of previous post pls.
@ iLango sir,
dollar index shot up.. do you think we will see 5100 today below 5150 ?
thanks , Narasinga
Everybody good morning.
Raja sir
What should i do for my suzlon btst. Is the 72 rs target still acheivable. What i should keep for my stop loss.
@ Rajagopal
yes i m talking og nifty only.
results today..some additions..
Results Today: Bajaj Auto Finance, Bajaj Finserv, Bajaj Hindusthan, Havells India, Hindalco, Jain Irrigation, Jindal Drilling, Kotak Mahindra Bank, Ranbaxy and SREI Infra.
FYI
Tomorrow IIP data is due and later this week monthly inflation..
Dear KG - Trend based trading. There is reversal. I am holding Suzy, target is acheivable. (short term target given is Rs 90-too far).
@ narasing,
When Dollar index bounced off the lows sharply, it was understood that the same will reflect in equities market and the sharp rally too needed some cooling off.
First part of the correction is done @ day's pivot 5160. A counter rally is on. whenever it reaches "OB" in intraday, it may reverse lower again....Whether 5160 will be broken later..its difficult to say. One clue could be if this rise stops @ 5172 to 5182 NF, then another low to 5145 or 5135 is possible.
Trading the corrections are always tough.
Ilango sir,
Since market is struggling to get past NF VAL, can we go for a small short here for 20 or 30 points ?
regards
VAL has given support sofar,..have to check if it can withhold
no, val has resisted so far....5168 is the NF VAL
@market,
thanks …I thought VAL-5168 is for NS..
Gm Illango Ji and blogmates
Sir i have initiated a long in tatasteel @592 keeping pivot support (shown in stock wealth)
any views on this position....needed
RG sir whats ur view too???
regards
vikram
@ Market,
"ORB" gave a sell below 5168NF which is also VAL for the day.
As intra is "Oversold" some small bounce is possible..Either sell @ 5172 to 5182 or @ the break of 5155 - all NF prices.
Perfect ! thank you sir.
hi guys,
dont know, but mkt seems to be probabilities wise can move higher towards 5320-5340 in next two days, i know osunds absurd, but yesterday when mkt starts to rise from 5125 onwards just chk 1 minute options data huge buying occurred in 5300 and 5400 calls, and this is no way seems to shedding so early.
@ Vikram,
Your buy level is in the middle of the range.
Not a favourable entry.
@RG,
Must have received nifty buy calls from broker :). Its flying now..safe to enter shorts ?
@ilango sir,
Is it right to enter conservative longs today @ current or lower levels ..I hope most of us missed to enter yesterday but we are getting a chance today to enter at same level..
Dear Ilango & All other Blogmates
A very good morning...
A few reads for laters!!!!
On Managing Risk;
http://seekingalpha.com/article/204059-on-managing-risk?source=email
6 Financial Lessons From Johnny Appleseed;
http://www.christianpf.com/lessons-from-johnny-appleseed/
Trading...Make a checklist;
http://tryin2trade.blogspot.com/2010/05/do-you-have-checklist-never-too-late-to.html
Cheers
Dear Ilango sir:
In one of your earlier messages you mentioned:
"One clue could be if this rise stops @ 5172 to 5182 NF, then another low to 5145 or 5135 is possible."
Now you gave a sell call:
"Either sell @ 5172 to 5182 or @ the break of 5155 - all NF prices."
Is this sell at 5172 or 5115 is for the target of 5135???
I was waiting to buy around the 5135/5145 but now i am confused to LONG or SHORT??
Please clarify.. sorry if i am sounding silly..
Sreeram
Read this line as:
Is this sell at 5172 or below 5155 is for the target of 5135???
Ilango sir, wht about conservative trade, i entered long
@5160 NF, is it ok or i sud exit @5172-82 to enter lower??
Plz suggest.
sir,
5 min o/s and hour o/b how to play these two cycles for intra
@ Manoj (Tryin2Trade),
I read your check list....quite a handy one for intraday traders. For eg: today is a case in point - negative bias as the open & High are the same.
@ Sreeram,
Corrections may be traded bothways..we calculate certain levels, the ideal ones..If it comes, play either + or -.
If you can buy for the short term positional, then hour low ema @ 5156 is one such "long trade" for positional.
I suggested yesterday too to initiate in small qty.
And in PreMarket view, it was suggested to sell and cover to average down your "long value"..
5154(23.6%);5122(38%);5096(50%);5070(61.8%)
The above are the retracement levels for the sharp rise from 4987 to 5205.
You could enter one part @ 5154, next @ 5122.
And the next when it moves past 5205. Keep a SL of 5105 or 5080.
Thank you Ilango Sir, will plan accordingly..
regards
sreeram
@sir,
Thanks for explanation to Sreeram..crystal clear now on how to handle this correction..
hi dear sir ilango,
sir which support or resistance level is best for bank nifty to reenter for buy od sell in this condition?
plz give yr suggestion
regards,
alpesh
Where is GB sir today????
Guys 5100 Pe is rapidly shedding OI and 5100 ce is adding OI... is it indicating a fall below 5100 today...
@ alpesh,
9550 to 9575 is an ideal level for Long entry with a small SL.
If it closes below 9675, first sign of weakness.
A close below 9567 is a signal to exit longs.
SL for longs may be a bit below 9550.
AT stock wealth, I have given a trading levels presently...
Dont pay attention to me because I am a born bear but this all smells of a big fall. Videshi sab paisa le jayengay aur hum valuations hi dekhtay reh jayengay.
by the way hang seng aur neechay khula after lunch.
ilango sir - what will be the target for present shorts??
europe will be opening atleast 1% down..
waiting for 5080 nf
around 400 points down now hang.
europe will open atleast 2 % down.
what the hell is happening to me ? I am trolling the post.
Oops..lot of bears we have in discussion today ..just kidding :)
Do they allow small bounce before EU open?
20 hma @ 5125
week low ema - 5122
ilango sir, can i keep 5105 as conservative SL and 5080
as S&R??i mean can i exit longs @5105 and start shorts at break of 5080??
thanks
Ilango Sir,
Booked NF short at 5132 initiated at 5177 and Long in NF at 5135. SL for NF long is 5105 or 5080. Are these levels NS?
Thank you for your analysis.
NEW POST DONE
fact, national fertilizer, etc running, chambal very calm, can a fresh intraday entry be taken as nifty is at support of 5122 as mentioned by i lango sir
FRIENDS
kindly advise
thanks
@ Bizagra!
As per Sir's postings, SL for conservative long is 5105 / 5080. These levels are NS? or NF?
Thank you
@Prabhakar
SL 5105/5080 is NS.
Lazy Dude with Buzy mind:
Friend,
OB/OS is applicable in trading - right? By that logic after such a gallop yesterday, that too unexpected, isn't normal to cool off today? Not that the magic wand (hand) has vanished all European problems. Still a few words were needed for bottom fishing, which happened y'day. It ispossible that higher level longs (which were stuck with the fall) and short term profit booking is fueling the cooling !!!
I am not discounting your angle, just thinking close+consequitive down trend is required to confirm the reversal of direction. Ilango was persisting since last week that it will reverse from 5150-5180 levels after the releif rally.
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