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...
89 comments:
FII figures tempting to add SHORTs or at least to “sit tight” on existing shorts..
supporting factors for Second half selling (hope europe wont throw any +ve surprise) – “9 rsi” & low volume upward movement of past 4 days should end with profit booking in the week end..
Hi GB,
got "T-bills" article? adding support to your "reversal" theory :)
At 11.20 AM there is still just 3.75 lac addition in NF O.I. suggests that still bulls and bears are skeptical.
5195, as it was important yesterday for me is also important at present considering the NF high-low.
I shall watch it in the afternoon session till then bye everybody.
US Dollar is moving up sharply..
a person named arvind2k, yesterday on vfm call centre heavily recommended a BUY on aban, people heavily bought there, he recommended the same on the basis of RSI and in the end when yesterday itself everybody was in huge intraday loss, asked EOD to average , suggesting that there wud be a gap up opening in ABAN tomorrow morning
and u all know what happened
how to know whether somebody giving call himself knows TA or not
and then how wud u know
that he is giving reverse call to offload his own positions
god save longs in aban
aameen
ilango sir plz give ur view on tata steel and bajaj hindustan
@ilango,
Just looking at futures alone ( index and stock ), FIIs are net +ve for May ( 866 crores ).
gd
US Doller Index 85.59 at the moment.
rochak : I am not in that category. What ever I understand is published in the TA file. But anyhow thank you. I will take it as a caution.
===
Crude is down and expected to go down against strong USD.
@ amrendra,
Please download Sundar's TA and Rajagopal's NF T.A files.
If the market trend is down, choose the down counters and write down the Resistances/ supports and trade them.
If market is in uptrend, choose the "UP" counters.
If market is in a sideways mode, trade based on the scrip's TA.
For eg:
I observed yesterday when Rajagopal made a comment about how most of the counters have touched or near their projected highs, that prompted me to take a sell/ profit booking call.
So much good info is available, make use of them.
Tata Steel is a "Down" counter.
Bajaj Hindustan - I am not following for trading.
GM ilango sir,seniors and freinds.rochak sir,this arvind was active here too.par yaha uski daal nahin gali.he gives calls at vfm and do bla bla if sumthing moves in his favour.and if his sl hit,he says no sl needed.hold the script or NF...will it d target in sum time.i think he doesnt even knows d ABCD of TA
Hi Mr. Illango,
How about initiating fresh shorts at this juncture???
Need your valuable suggestion..
Sirisha
HYD
If 5173(VAL) is held, Nifty could trade in a narrow 20 point range(5173 to 5193) for another 2 hours.
Thanx a lot Sir........
@ Sirisha,
If the day's low 5163NF is broken, you may sell.
You may sell either @ 5196NF (VAH) with a SL of 5202NF.
These are the two possible suggestions I could offer..
You may refer Yahoo intra RT chart (5 min)for guidance.(The link is provided under "Live Market to watch").
Hi Ilango,
Yesterday's FII statistics as listed on NSE's F&O page:
BUY SELL OPEN INTEREST AT THE END OF THE DAY
No. of contracts Amt in Crores No. of contracts Amt in Crores No. of contracts Amt in Crores
INDEX FUTURES 108100 2804.10 67060 1739.02 491963 12716.04
INDEX OPTIONS 178962 4623.58 165417 4225.10 1824821 47229.16
STOCK FUTURES 47652 1546.50 37584 1120.89 1005459 29691.59
STOCK OPTIONS 5326 205.90 7365 231.81 41965 1318.74
means they were net buyers in Index futures, options and stock futures; Net sellers in stock options.
Any clue on what this means? Did they square off a major part off their index shorts yesterday or did they go long?
Thanks
P.S the table data might look garbled but i could not format it better. Sorry for that.
@ gd,
I have noted your info. in the morning itself.
I have always based my views on the CASH Market figures. And I have realised it on few occasions to my disappointment that I did not heed the "Strong money flow direction".
Futures exposure being time bound may change swiftly too. It could have a short term influence. As I do not monitor them, I could only ask you how reliable they have been in your experience.
got a msg frm broket that there will be trading on sunday
for 4 gold etfs
Ok Mr. Illango I got you.
Thanx again...
Sirisha
HYD
Hi,
Good afternoon ilango sir & blogmates,
Plz let me know US Dollar index live link.
Thanks.
Mkt is surely headed up, if only for a while. Also Fri close is usually dramatic.
My friend has been recording it from last Aug. We ended up charting FIINet vs Nifty for these months. Some interesting observations. We were hoping to share this after we monitor for a few months. One thing was there was one scenario where it seems to be a LEADING indicator.
FIINet = index futures ( buy - sell ) + stock futures ( buy - sell )
If someone is interested, i can email the current chart.
gd
Dear Mr. Elango
Inflation data released and better than last month
Inflation 9.59% vs 9.9%
food price 12.55% vs 12.71%
Any chance of mkt takes this NEWS for up move
Hi Abhishek, try this link for $ index:
http://in.finance.yahoo.com/q?s=DX-Y.NYB
@abhishek,
I just found it in 'live market links' http://usd-inr.blogspot.com/ thanks to someone mentioning it here (right column of the blog).
hey yoda
dont be so sure ever about market buddy
what say
@rochak,
Far from it. I don't trust this mkt one bit.:)
US Dollar started to fall, going below morning's low.
Thanks @tclick & yoda
nifty stuck in two triangles.
http://tradingontechnicals.blogspot.com/2010/05/nifty-update.html
Hour low broken.
RIL IS PULLING MKTS DOWN ....
wat a carnage
i mean hour low ema.
Sir,
USD : Cud it be a OB correction? Yet to reflect on Crude.
NF below VAL
@ilango sir,
Futures observation ( from Aug ):
When FII short and reach -5000cr net, a few days following that market seems to top and crash ( Oct, Jan, April beginning ). In Oct/Jan, it was leading - meaning FII had crossed -5k short in futures and a few days after that the market went down.
When they are +ve, it seems to be with the market - ie it is lagging indicator.
We still are confused abt the change in numbers around expiry.
gd
Ilango Sir,
If Dollar index down, equity market will go up?
@ RG,
US dollar is coming off , so do equities.. Corelation has failed right now.
US dollar index has retraced all the losses post the European Union 1 trillion bailout package
At least currency markets have given a thumbs down to the bailout
Thank you, golfdude.
@ RG,
You are right about the correction being for "OB".
It is still closer to the highs and periodically makes new highs.
Euro is closer to the lows and poised to break again if it falls below 1.251 .
Thank you Sir
Sir,
Thank you. So now I have learnt A and B means 24 more to go?
In fact, crude is holding low levels and yet to recover. Being Short, the curiosity.
Hi..Anuj,
How have you been..? Good to have you here.
@ Prabhakar,
US dollar index is hovering near their highs and continues to be UP - meaning weakness to equities.
Nifty 5163 broken what next
Ilango sir, not just Euro but GBP's out outlook is bearish which together will help the USD to rise and might maul the equity markets. I look forward to a deary-beary next week ;)
Sir,
Sold Nifty @ 5159. what would be the SL and tgt?
Thanks,
@ilango sir,
Can we see a intermediate stop at 5145/5135?
Nifty broken the triangle...
need to see closing below 5165 at 1 PM to confirm the Sell.
Yes..assortz,
That possibility still exists. A brief pause @ 5135, another attempt to 5160 and ....??
“ another attempt to 5160 and ....?? “
Something I smell from your “double question mark” sir :)
Hi Ilango
I am great ...hope that you are doing good as well apart from trading
I was just being a silent follower(like good old Prosenjit)...day trading a bit in bank nifty
@all
...holding shorts in bank nifty now...before the break of todays low
Positional trade....but if good gains are to come today ...then will book profit..(sounds confusing?)
Cheers
@ assortZ, as you have understood the '??' and i want to be sure if i understood it correctly, please explain me if that means we will laugh more loudly!
@PIS,
You understood it correctly ( I know that you understood the same as I understood)..
Anyway my understanding is …I will put a “single question mark ” if am sure about something and put a ““double question mark” if am very much sure about something..
lol..i think ilango sir must be thinking as how badly one of his student is following him...sorry sir :)
pis..i know I have not yet answered you but you know the answer and I know that you know :) :)
oops..mudiyala
@ assortZ, Thanks. :)
I think this blog's hard copy will be a BEST SELLER category, if master wishes!!
@Assortz: that was worse than actor Visu's tongue twisters :-P
Now, Nifty will have a strong resistance @ 5155-5160. Am I right, Ilango sir?
below 9730 bank nifty berish
below 9610 more berish
can touch 9450
so hold short if close below 9730
tclick,
thanks but am I being appreciated or cursed?
:)
@assortZ
You are being appreciated because now learning EWT seems so simple compared to your language! :)
Thanks RM, I wouldn't have answered better :) :)
Illango Sir,
Any view on Bank Nifty.. can I go long ?
Umesh
Ilango Sir,
Can I wait to book profit intraday short at 5163 in NF for target 5135? or book here?
@Raja paji
Nice to see that you have updated your profile
Ornithology-thats wonderful...At one time I had around 17 different types of birds visiting my garden when I was in Dehradun during school days...I dont know whether we have that much of diversity now
r m will know better...now have a gold fish (heard that if you keep a goldfish you can do better bottom fishing in stocks!!)
Ilango has some gold fish as well...is that right Ilango?
@rm,
Oh! I made the “full pot” to spill over little today.. :)
Anuj
Is it ok to short Bank nifty now?
@ Prabhakar,
You can book part - the first target & support zone.5135...
@Anuj
Birds are still there but the gardens have gone. A couple of bulbuls have made their home in our litchi tree and don't tolerate our presence there - guess they have got chicks coming up. :)
Booked intraday short in NF at 5136 initiated at 5163. Thank you sir for your Analysis.
@tClick, assortZ
:)
@ Anuj,
Yes..They are there under the care of my son.
I guess, I will remember this to see whether he becomes an expert at "bottom fishing".. :)
Ilango sir US Doller Index again shot up 85.70.
@ bizagra,
US dollar index is delayed as only a 5 minute time cycle is available. So I follow Euro in the link below and it is live..may be delayed by a few seconds.
Besides, the corelation is straight..If it falls , equities too fall.
http://www.livecharts.co.uk/ForexCharts/eurusd.php
Hitendra
Well it depends..on one's time horizon..
Swing trades or conservative it is short keeping yesterdays high as stop loss
Intraday as well it is short 9730 as stop...
but we have come of from intraday stop...so entry here will have bad risk to reward ratio
@Everyone:
Following are two trackers :
http://www.igmarkets.co.uk/pricestream/outside/getMarketList?webSiteId=igm&businessArea=F&locale=en_GB&firstTime=true
Asian mkts:
http://www.igmarkets.com.sg/pricestream/outside/getMarketList?webSiteId=sgx&businessArea=F&locale=en_GB&firstTime=true&skin=igindex
Anuj - Love Animals to the ire of my dear neighbours. Keep food and water on all bedroom windows for pigeons,crows,mynas,parrots and squirrels. Got two Acquariums and a small terrace garden on the third floor-Goa,Chikku,pommagranate,jasmine,hibiscus,etc. Great exercise and relaxation - tending and speaking to the plants. Latest addition are two orphaned squirrels. Feeding them with ink fillers.
You know how I started walking habbit ? By walking my pet dogs to the hospital 6 kms away from home since my VII std - Dad had 6 dogs at home.
Net net - there are 3 human beings and 30 animals at home. (I belong to the second category).
Looks like a Zoo. When the door bell rings my dog looks from his cot - and his look says "Dog go check the door. What are you here for?"
Sorry. You tossed the OoT ball.
@Rajagopal
Please keep it coming. Some of us just love this OoT stuff. :)
@Raja Paji
:))....nice to know that..LOL
Better be quite before some one complains about being OoT
@ Rajagopal,
Lucky birds to find food & water on your windows when all around they find concrete jungle..
Some of these European Stock markets (CAC specially) have started behaving like Karachi Stock Market
One day up other day down...big movements as compared to their past
ha ha rm.
Any one speaks to plants at home ? Try it. They respond so well. I call my 'Arali' (don't know the botonical name)"Handsome" and Jasmine "Beauty" - Tell the jasmine that Handsome looks glorious with flowers. Next day I can find Jasmine laughing with a full bloom. Turn to Arali and say "look at her,trying to beat you'...Speak to each plant between 5.15 and 6 in the morning when watering. Crazy? No Sir. Read Sir Aurobindo and Mother - they advise it. Atleast plants don't tell me to shut up "OoT" !!! (But ensure the talking only after using the tooth brush).
at last i got it,
trading success is directly proportional to pets
sir, rg sir, anuj ,rm :-)
@ Anuj,
"OoT" is what the doctors suggest for "Sitting tight".
Robert Prechter would take a position and then go to the couch and dozes off..(Military man)
(Anuj just the last one).
Yes Ilango. Life is beautiful. Blessed to have "tall trees" sorrounding the apartment on all sides for a few square kms - that too just in the heart of the city. Got all birds and got a binocular gift from daughter to watch the eagles. Where eagles Dare ???
@piyush sharda
Guess my future is bright, will rush to adopt a pup. :)
NEW POST DONE
Sir, the monthly pivot is @ 5130
@Raja paji
Great...talking to plants...
Eagles have virtually vanished...or they fly above the polluted sky of Delhi!!
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