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...
58 comments:
Rajagopal said...
JP : Too Early. Has the target been met on y'day's list. Not yet-right? As committed I initiated Longs - BTST, some have matured also. I generate data by 3pm to understand STBT/BTST. Will post it.
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Sugar Daddy - Any new sack? Balrampur and your old friend Bajhi may move (I am Long). News and Tech (OS) based.
Manu - What about Gold ? Is your levels reached?
@ RG..
Ws away so brain nt wrkng..
i m long in it..
@RG sir - Do you see any +ve div after OS in big boy RIL? Would you suggest buying it @ this rate?
@ rG
YES..i squrd on 13 evng at 18029..did good ..
@Manu
check google group.posted babaj hind as requested
@aar vee, can you please give me the group name? and if the group is by invitation, i will request to add pisreport! thanks.
@Rv
thnx..
RG take a look..
Hi Guys,
KEEP 5018 SL-- FOR LONG
GO SHORT BELOW 5018
Hai everyone
Nifty 5 minutes chart updated
http://niftychartsandpatterns.blogspot.com/
thank you
@manu
corrected it further-its in files section
test
Dear Mr. Elango
shall I go short BANK NIFTY 9546 now
i initiated short intraday as the hourly down channel has been respected by this upmove.
tC : RIL is OS with -ve D as per y'day EOD. I don't track during the day. 1023-25 looks inviting to go Long with 1% gap up in Euro opening.
Shorted at 5065... but Nifty running away... I too decided to run thru all the Ads on the blog by clicking on each one. Finished one lap!!
Ready for another. Friends do join me in this race!
ilango sir mene nifty 5075 me sell ki hai ab stoploss kya rakhu
"5120" is the 61.8% retracement to the fall from 5213 to 4966.
5100 - 5120 would be a strong resistance zone. SL 5135 or 5140.
difficult to get past 5100-5109 level, a good resistance zone.
monthly 5-ema - 5105
weekly low ema - 5105
Bank of Rajasthan Rs 98. We are tracking it from 52 levels. Hope my friend Sri is watching !!!
Thank U Ilango Sir
missed another one
daily 5 ema - 5110
Ilango Sir,
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SL for NF shorts is 5135/5140 NS is for conservative shorts also?
Thank you
Ilango sir, SL for conservatives now 5135 or 5140?? or this is
intraday??
Hai everyone
One can book profits at the top of this channel.
Nifty 5 minutes chart updated.
http://niftychartsandpatterns.blogspot.com/
thank you
Mr. Elango
Shall I short Nifty now
@Anil, How do you check the open interest change of 5000 Puts ? Thanks..
Yes..Sryasdmurali,
5100-5120 is a Sell zone with a SL of 5135 or 5140.
@ Prabhakar, bizagra,
Will revise it only for tomorrow.
Thank you Sir
Scrip Name Expected Initiated @ 1 pm Action
ABB 872.64 829.05 838.50 Holding
AXISBANK 1292.43 1262.20 1269.70 Pending
GAIL 438.87 433.00 443.00 Reached
HLL 244.23 240.05 243.20 Reached
L&T 1644.33 1606.90 1678.00 Reached
M&M 564.07 555.40 565.90 Reached
NALCO 417.01 410.15 412.50 Pending
SIEMENS 712.70 696.00 697.90 Pending
SUNPHARM 1613.63 1580.55 1595.00 Pending
ABB : Y'day was an abnormal day hence VIX value was skewed.
nifty new leval to high tuch to 5140?
Mr. Elango
Any posibility of Nifty reach 5147 today
Hi Guys,
As we are intra day trader and 1 or 2 days
position holder we have to catch trend very early
and change our view also. Keep our sl very small.
As i said yesterday 5010 change for long. if anybody
holds long can book profit 5100 to 5120 or trail. Go
short only below 5018 as of now. If any change in
short term i will update later.
@Ankurbbhatt
I just monitor , OI of three strikes above and below the current level of nifty, it gives us some clue, what to expect next, Fii's always trade their cash with hedged on futures & options, and in india it pays to write the options, as ppl here have more fear of writing options, its my general observation.
5100 put chg in OI 5 lacs, whats going on 5100 call unwinding...
Sir
I covered my short posn from yest at low levels today. Now inintaiated short from 5087.95 to 5104. This is my conservative posn. What should i keep my Stop Loss as I just got this posn now. Will it be 5135 or 5185.
A close below 5082 @ 2.00PM should give some comfort to the "Shorts". (Tech.Table HH Ema for 2.00PM)
Hi Ilango,
Is it possible that the short term trend has reversed again and we may see nifty retrace back to 5170-5200 levels?
Thanks
@ KGovind,
Since your selling is done today at a new lower level compared to the earlier "selling level", Keep 5135-5140 as a SL.
Once it closes below the Hour High ema(Either @ 2.00PM or 3.00PM), you may bring it down to below day's high.
@ Shr,
There is no evidence for such a reversal so far in my observations. If you have any valid reasons, let us know.
Hi Guys
Catching top or bottom is not prudent idea
to take position. Trading time frame is very very
important to take any trade. Change your time frame
very frequently will leads psychological impact to your
trading.
ilango sir,
What would be the target for conservative short created at 5095/-......?
arpit
I HAVE SHORTED NF @ 5100 WHTA TGT SHLD I KEEP ..
@Anil..Thank you Anil..That was helpful but...Just wanted to know how to interprete OI change in favour of Bulls or bears...Whats the method ?
"4925" and may be lower..much lower. SL 5135-5140.
Hi Ilango,
My observation was based on the selling easing in the past 2 days and so was thinking a short term support/bottom might have been formed in the 4960-4980 range. So maybe till this expiry (long expiry, may 27th) markets might go higher by way of short covering?
One counter point to this argument is FII still selling heavily yesterday (1200+ crores in cash alone).
Regards
Sir,
This global correction is looking different. All prev corrections after mar 09, nifty always fell more than Dow. Almost 1.5 times Dow. But tihs time, even though Dow is now more than 7% down, we are only down by 6-7%. Our nifty waves are not aligned with Dow at all.
From reading about the US market, I feel US market probably created a temporary bottom yesterday. It will have a 2 or 3 day corrective rally starting yestreday afternoon.
How will this impact our shorts ?
Our market is racing madly up and down. 10 min back, I thought certainly were closing below 5182 at 2 PM. Now it is looking like certainly above 5082.
RESP ILANGO SIR level for bank nifty to short?
Hi Mr. Illango,
Looks like, Nifty & especially TATASTEEL are dancing to the tune of Dollar Index. {This is just my observation, plez correct me if I’m wrong}
Sirisha
HYD
@Ankurbbhatt
Generally traders trade the range, and starts rolling in the direction of losses, it helps in widening the band in which they play and also keeps short term jerks like today's at the bay.
when mkt attempted y'day a low of 4966, writers at 5000 levels shifted their positions to 4700 and 4800 which are offering great premiums and it helps them to avoid expiry jittery.
You need to constantly monitor calls and puts and notice how positions changes, generally at the extremes, like todays at lower levels 5000 put is adding base, inspite of mkt trading close to those levels, it certainly hinted a rally in place for the day may be for 40-50 points.
@Anil, Great !! Thank you for that !
Dear Anil:
Really appreciate your inputs and views.. thanks for sharing with us;
Sreeram
The W%R shows all the accumulation for today getting distributed as of now !
sir, spot closing over 5082 as mentioned by u, but future did not, inferences, please
thanks
regards
Mr. Elango
"4925" and may be lower..much lower. SL 5135-5140.
Nifty short tgt 4925 ???
NEW POST DONE.
Hi Guys,
Very short term uptrend will change to down
only below 5018
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