A close below 5115 or 5138 will suggest caution to longs.
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...
66 comments:
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
Reposting:=
============
@ Bizagra!
As per Sir's postings, SL for conservative long is 5105 / 5080. These levels are NS? or NF?
Thank you
============
@Prabhakar
These are 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.
@RG,
logical..
reverse from where? its confusing term. go up or down sounds better. thanx.
Thank you Mr.Bizagra
Dear Sir
Shall I buy bank nifty now at 9608.
france-again 7% up
Yes..Sryasdmurali.
@ Rajagopal
nice analysis, a cooling is necessary, moreover global cues are not clear, so its better, a rally yesterday is cooled off by rising $, so its natural and it needs a confirmation from tech table to decide whether to go long or short,
a busy day for traders, to watch the screen but doing nothing!
CAC IS DOWN NOT UP.
Nifty retraced exactly 38.2% of the last upmove from from the low of 5203.
can it be a short term bottom?
@lazydude,
You are right- CAC is down now..but yahoo showed them in positive and tickers were also changing up ..has anyone noticed?
THOUGHT FOR THE DAY
" Too Much analysis leads to paralysis"
Ilango you can remove if it harms anyone here.
Sudhin
yahoo is very delayed. try this http://www.livecharts.co.uk/MarketCharts/cac.php
@Men,
That is not only thought for the “day” but for “ever” :)
@lazydude
Thanks for the link
@ men,
Everyone has their observations/ opinions as market can be looked at from various angles and each one's time frame could be different.
However, what is "most important" is to take a decision based on all the inputs. If not done may lead to "paralysis".
Best way to deal with is to have a paper & pen and jot down few points and see if it convinces you. If so, play as per your plan. If not, stay on the sidelines. "Money not lost, is money earned too".
Lingo sir!
What a practical approach, hats off to u sir.
KUMAR
Well said sir, but the most diificult thing is to sit on hands.
"Money not lost, is money earned too".—this is what I learnt recently after joining here .. “sitting tight” with no trades :)
A rare attempt on Bank nifty from my side.
http://niftydemystified.blogspot.com/2010/05/fibonacci-and-trendline-approach-to.html
Sir,
could you explain in some details, the concept of hourly
trading. Is it done on the basis of hourly pivot or orb. Does
one have to exit every hour?
Rogue Trader
What Does it Mean?
"A trader who acts independently of others - and, typically, recklessly - usually to the detriment of both the clients and the institution that employs him or her. In most cases this type of trading is high risk and can create huge losses"
Just got it from Investopedia.com. Hope none of us fall in this definition. Stay with your best Friend Mr Trend.
Hi..Satyam Sit,
Your charts/ analysis and the levels you put forth are always unbiased.
Markets are at an inflection point and your views will be well received by all.
Sitting tight has saved me a lot of money too, and it should not be confused with paralysis. Because sitting tight is a conscious decision.
:)
Thank you so much Sir, it means a lot to me. A courage to step forward.
Ilango Sir,
Pl. mention NF resistance to this up move.
Thank you
RM,
Nicely said..but the mental state while “sitting tight” was always difficult to carry on earlier as I used to feel that “entire world” has isolated me..but after having such nice successful trades here, it becomes a inherent quality and makes me proud for not loosing money..i have to keep this feel goes on :)
rm:
vah vah...
Bravo. Maxmimum words in a single post in one month.
@ Prabhakar,
ATP @ 5159.
VAL @ 5168
May be POC @ 5184.
Thank you Sir.
ATP means? anybody can clarify.
@RG,
நிà®±ைகுடம்..pot with full of water hence spilling is almost rare… RM am talking about you :)
Myself - couple of buckets of water in a barrel hence so much of spilling :) :)
@prabhakar,
ATP – Association of Tennis professionals .. just for fun
ATP – Average traded price..
aZ : I am an exception. The only empty vessel that can spill water. (I must have spilled that much).
@ Rajagopal,
That was a nice one on rm.. :)
Lord Muruga(Son) was giving the mantra to Lord Shiva( Father)...It says it all - "Chumma iru"..
Thank you Mr.assortZ
My thought for the day was PURELY IN THE LIGHTER SENSE. Prashant mentioned this in the morning hence reproduced it here. As Ilango said money saved is money earned, am doing just that since some time now. Enjoy!!!!!
So you all had good fun while i was busy with my lunch (Once can do many things while sitting tight!)
:)
@assortZ, RG
I seriously suspect that I fall in the "totally empty vessel" category hence the scarcity of words. :)
with FTSE and dow jones futures recovering our markets are showing recovery too, let us all see
@ men,
What ever you said is quite a serious matter. One should not lose sight of his plan in the melee of many exchanges..
Like assortz said..it is not just a thought for the day but forever.
@men,
Always stick to one leader, one analysis, one marriage and so on..life will be beautiful…so, what you have posted is absolutely fine :)
lazydude,
HI,
Is there any link for live dow future??
Thanks.
hi abhishek....
its igindex.co.uk
kind regards.....
vicky.....
abhishek this is link for live dow and ftse
www.igmarkets.co.uk
Thanks , VICKY & RAHUL
welcome abhishek
Men - Nothing wrong - perfectly right - in fact more technically put I remember Ilango saying "don't fall into the trap of Indicators". One of my friends during a meeting put it diffeently "enough ------bation, let's see some action" that was his frustration on the anlysis being done.
====
rm : The final TA call was having a green back ground. Your position is compared to the most intelligenet of our Gods.
kudos.
if nifty fut hold 5145 then 5177-5184-5193-5204
jesse livermore who made this phrase sitting tight
was not a short term trader like lot of ppl here.
he traded the entire crash of 1929 whach made him more
than billion dollars
so sitting tight shud be in ur timeframe and when trade
goes in our favour we shud not sit tight in next timeframe
i have lost lot of profits when i see sudden profits in my
favor thinking it will go on.
we shud sit tight in our timeframe only
i dont know how to do it.
"Always stick to one leader, one analysis, one marriage and so"
All else is ok. But wife - why would an intelligenet man repeat his first mistake?
@Rajagopal
:)
@ PS,
Start calculating time factor besides your normal price calculations.And arrive @ a "Time line".
Within the time line if the target comes, part book & trail the rest.
"5168" VAL has been quite handy today..next to 5115..
wife pls read as "one marraige"
Ilango sir, i m having longs @5160, sud i exit now to enter
5115 again???
“why would an intelligenet man repeat his first mistake? “ – of course intelligent can go on further than one choice as managing is not a big deal..but “ducks” like me should stick to “one” to have peace :)
See – am struggling with “two position” since morning long and short..and finding it difficult to cut which one..mkt gives no chance to cut either position…
sir,
i hope we closed above low ema @ 2.00 pm
Hi Ilango Sir and Blogmates,
Good Afternoon....
I heard and seen somewhere on the net....that very soon China's real estate bubble will burst.....???
Can we short current levels to take advantage of this??
Please share your thoughts on this...
@ assortz,
It just closed below Hour low ema @ 5141.
2.00PM candle is bearish..(Hour time frame)..
Thanks sir
Yesterdays memories don’t go away I sold twice yesterday after 5130 both times got stopped out,
Finally retook longs at 5200 conservative,
I was able to trade once short and cover long to long for 15 points.
Missed doing it again as bcos yesterday’s one side market memories came that may be I’ll have to retake longs at higher levels. Now converted intra longs at 5145 to positional
5135-5140 NF seems to be where lot of action is taking place.. Weary bulls trying to save the day ;)
NEW POST DONE
thanks sir..
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