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...
45 comments:
Hi Mr. Illango,
TATAMOTORS almost touched 830, now what next???
plez let me know your comments on it...
Sirisha
HYD
Ilango sir, 5175 sud be taken as s&R as of now asking as
5205 is not breached yet??plz suggest?
@ bizagra,
Based on EW chart posted earlier, I expect Nifty future to move to 5215+ before having a correction and that correction should not breach 5175NF.
Hence, the S&R may come into play timewise after another hour.(and preferably after another high is made)
@ Sirisha,
I do not follow stocks during intraday. My trading is limited to "Just Nifty".
I looked at Rajagopal's NF TA file, it shows a projected high of 830.1 against the current high of 828.35..
As long as it trades above 818.50, it is up and may make another high. This is where BTST works well with Rajagopal's reco..
Crossing 5205 – recent high achieved early this week..should give more confidence for positional longs..
hello ilango,
pls open price
thanks
tsrini
@ tsrini,
Open: 5185.1
Thanx a lot Mr. Illango & Mr. Rajagopal...
Bye Everyone,
shall try to join in latter half.
Thanks.
@ilango
nifty is getting resisted at upper end of falling channel, u drawn yesterday, after mkt report.
Sir - Thanks.
Srisha:
Some scripts as TMF are range beaters. On both sides they breach the VIX estimated levels. I keep the VIX level as TSL, for an upper/lower target.
Shall I buy nifty at this level. Guide me Tgt please.
Dear Mr. Elango
Shall I buy nifty at this level. Guide me Tgt please.
sryasdmurali - Hi it is under SELL. Ilango has given the call. Now retracement expected upto 5161 with 5191 as SL.
I will wait for Longs.
Ilango sir, now at any new high we can take a sell call
i hope??
Gm Ilango sir and all friends...
Nifty didnt crossed its recent weekly high...but sensex has crossed.
kind regards...
vicky....
@ sryasdmurali,
Tech table shows a first support @ 5182(Hour High ema). If it does not close below that at 11.00AM, then the uptrend will continue.
Sir
Good morning to all.
I was reading about S&R at 5175 NS. For confirmation, it is only if nifty traded above 5205 NS. So far high is around 5201 NS. Therefore we should not do S&R at 5175 if it suddenly comes now. Is my understanding correct ?
Mr. Elango
Today EDUCOMP Q4 results. I am holding 100 nos. Expecting exellent results. Your opinion about this stock please. Shall I hold it for long
@ sir
I am seeing very closely 510 ce behaviour for last 6 days. @131-144 and 5200 Ce @90-92, heavy writing had taken place. I guess, writers will not want to let their position in loss. Am i write with my observations?
hey guys keep a watch on Graphite India
Results are to be published today
GM Ilango, all,
If it sells from this point, it would have made a triple top at 5201-5206 area.
Yeah Mr. Rajagopal especially TATAMOTORS kind of stocks do the same. Anyways, from now onwards I also keep TSL thing in my mind {its before my perception was different ‘bout projected high & low}
Thanx again for giving me such worthy guidelines….
Sirisha
HYD
i think it's better to sell 5100 CE @140, instead of shorting Nf. If NF @5130, 5100Ce will be 100 or less
With above , one can keep 5100 CE stoploss @150 and reverse from there.
also Reverse if 5100 CE tades constantly above 143-144 for atleast 30 min.
Sir
You have answered bizagra for the same question I have asked. But you have also mentioned after one hour. 1 hour is gone since you answered bizagra. That is why i am trying to confirm that i am not making errors with my conservative trade.
@rm sir,
i had seen this graph but never cud make out that it can be used for
getting actual opening price.
but contracht low is coming 5178 in my terminal i use
'now'even contract graph starts frm 5150. how do we remove ticks to get
actual prices. even after zooming it i cant make out.
pls clarify as i have been puzzled abt it for over 4 months .
@Kgovind, i hope a new high will now confirm s&R 5175.
@piyush_sharda
Please send mail to rmsharma@gmail.com. I'll explain with screenshots.
Regards.
@ KGovind,
Corrections are complex - and I need to be fairly inclined to a particular view to share it.
Time factor alerts us to other possibilities.
Nifty, though resisted @ 5200(The earlier support on many occasions) has also found supports currently with TA considerations.
The proper S&R considering a very short term view is - an aggressive 5182NS and
- a conservative 5145.
5225 (21 sma) & 5240 (61.8% retracement) are possible areas of profit booking.
@KGovind, what I understood from answer to Bizagra is that 11am closing need to be above HEMA 5182 and it did so. So strength in the market to go past 5215+ and then a downmove not bellow 5175. so intraday, we r long!
GM
Ilango - I have a query - I saw an email from Rohit Srivastava
Can this be a 5 wave decline? with 50% retracement around
5200 and 68% 5235?
With the low as wave 1 - Wave 2 forming today? and then down?
@rm sirji
will do after market
Thank you bizagra, Ilango Sir and pisreport for confirming the same view i also hold.
Hi..Gautam Bajaj,
Considering the weak weekly TA, I have labelled in my earlier post for Nifty and the more I look at it I could only see "abc" wave down from 5400 with each subwaves also as "abc". This upmove from 4987 could be an "X" wave targeting a 61.8% @ 5240.
However, the last upmove from 4675 to 5400 was a clear 5-wave and hence, this could also be a corrective to that upmove.
I find "5200" as a major resistance and 4950 as a major support and market would resolve its direction beyond these.
As this move from 2567 to current move of 1 year + is considered as a larger B, it will remain the most challenging one.B for phoney as well as sucker wave.
It must cross 5210 to invalidate triple top as observed by YODA..
Sir and Family..
GM..
the query by GB is imp. 2 be addressed
as i m also confused of ths truncated Wave..
@sri
ur mercury has wrkd fr a trend change..plz confirm
it is either an ABC correction or a 5-way down, in both
the cases, we'll move down only after this upmove is
exhaused. Let us wait and see where it ends. Sir,
has suggested two probable points 5225 and 5240.
@piyush sharda
Got your email address from my inbox (Thanks to these google guys they make everything so simple) and have sent you my method. :)
Regards.
Thanks Ilango. I've labled this as a abc corrective as well.
I'm forwarding Rohit's counts and my counts as well
Pls take a look and comment..
Also if you notice the VIX chart - its uptrending in channel
so fall likely?
NEW POST DONE
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