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...
102 comments:
Can someone tell me how will EURO-INR futures be affected with EURO falling against US DOLLAR??
i mean will it fall the same value against INR as against US Dollar???
Considering market range,First of all, I might prefer to stay away but if I am long here then I might play for just 10-20points only i.e. 5000 and 5010.
@ Prabhakar,
Bring down your SL to 5010 Or exit with a small loss. You may resell at higher level.
Ilango sir,
Good afternoon. When I updated the chart today I get a RSI values of only
40. Can you give me todays OHLC values to check where I have
gone wrong?
@ sir,
any possiblity you see of filling the gap sir ?
the levels are remaining at 5014 5005 4996 on mp
That was a terrific call yesterday, Ilango. No other blog/opinion said the bears had won out that early - all of them expected 5100+ by the end of the week.
The target for the second wave are 5030 & 5060,
The first one is quite probable
@ Satheesh,
10:00:00 5,013.75 5,018.80 4,991.80 5,001.85
11:00:00 5,001.65 5,020.40 4,997.25 5,019.70
12:00:00 5,019.55 5,020.25 4,990.30 4,993.15
@ Mok,
"5050" the gap point - is not a difficult thing & still keeping the downtrend intact.
There are multiple possibilities. Holding a trade depends on where it was initiated and for what target..
quite busy at off..lot action happening here it seems..
Thank you Ilango Sir,
To day Nifty is confusing me.I exited my NF short at 4991 only initiated at 4987.
Thank you
thanks sir,
noticed the movings are around the profiled borders slighly falling out but pulling back [so far] ...
My system given sell signal as of now at 5010 sl 5027(ns)
@mok
exactly at 5014 it fell. what magic r u using
exited long @ 5005
Gold and Silver showing signs of recovery from recent OBs. Does it indicate anything for Equities ?
@sir,
Sorry..have not read comments of last evening and since morning…holding positional shorts and wanted to square them here..is it ok and can I get higher levels to re-sell again?
Viren magic, :) piyush, we will discuss later.
Its a nice one.
I Am going by sir's sayings now.
@ Yoda,
The critics keep grilling me with their inputs of FII selling, OI being heavy, trading closer to the settlement lows, etc..
Besides the combination of TA & EW are quite remarkable in their utility.
Dear Friends and Ilango, I am holding Big position of 5000 Puts averaged at 60.00 . The Market is giving me good profits. I am confused ...Should I book the Profit or Hold ?
It's been Nerve Wrecking Completely Today....For me....
One should not forget it, while trading, that 200 DMA which is 4991 for NF today is broken many times during intraday.so cautious.
@ assortz,
Stay with the shorts. I'm wondering when the "rug is going to be pulled out from under the bull's feet".
@sir,
Thanks..now will go through all comments without tense :)
@ Prabhakar,
I generally do not suggest a sell at a break of "something" simply because the bounce after that sell signals puts traders at discomfort and shakes them out of it.
5018-5020 which was a resistance few days back should have been the level to sell.
I got a bit concerned about your money. And forgot the merit of the trade.
Looks like the bottom's dropping out of the market.
I need Help !! This is my Weak point....Don't KNow how to Let my profits flow......Anyone ????
Addition of intraday 2400000 O.I. in NF.Whether there shall be any short covering in the latter hours? is there any possibility? Let us find the answer in 2nd trading session.
Thank Ilango Sir for caring of every student. I am waiting for level 5020 to resell.
Thank you
@Ankurbbhatt
Using stop-losses instead of buy/sell orders helped me not cut out the profits with my nervous energy. It's a struggle for me too - can't say I like to lose even that much.:)
sir,
going by the hour and min cycle what once u posted for me,
i am attempting long intra trades hour o/s stochaistics
and pos divergence in 5 min
all it needs is to drop below the 4988 the 200sma [now moved up to 4989] ?
PS : Will Wednesday 2.30 help? "rug is going to be pulled out from under the bull's feet".
rg sir,
i am intra long lets see, wed 2-30 severely negative
have seen few times
@RG
you have super trading system that works very well
for you,then why do you mix commodity with trading?
(i know all are co-related).But if your system say 1+1=5
you have to accept. Trading is a emotional game, we can
control our emotion only with trading system that give
wining edge.
@all
Ilago sir given lot of trading system here.
find suitable one for yourself that gives only winning
streak in long run. Don't mix too many news when taking
trading decision that spoil your confidence.
Thanks Yoda !! If the market falls to 4950...I willeasily see 100 Rs. mark on the 5000 Put...Dont want to lose huge Profit....I hope I will not be stopped out at 85.
sir
hrly oversold..
eu discountd..
mp suggest 5060..and revrse
PS
Gb father opretion started.pray
@mok,
Yeah, I know! Can't these bulls oblige and give up already!?:p
I will hold until 3:20 PM ...Let's see....
its atrap
Silver is also recovering very well (Rs 200+). Will Yellow and White make it RED on Equity?
@Ankurbbhatt
I get stopped out less times than I pull my stops and regret it. Hope and greed - my big problems.:)
Thanks Manu. It Shridi Baba photo I saw first. Told him next visit is on GB's Dad. He always obliges.
I think shorts be covered... these are first strong signs of reversal... NF may go higher now... holding S2 for the whole day since opening!
@ yoda,
once b4 200sma support & rebound. But today the sentiments are negative, but are the FIIs seeing the sentiment as we do :)
sir any view on tisco? as dollar index is cooling somewhat.
Ilango,
Hi,
You wrote at 12.43 pm:
@ assortz,
Stay with the shorts. I'm wondering when the "rug is going to be pulled out from under the bull's feet".
What time frame do you attribute for this pulling of the 'RUG'
Best.
Yes, Yoda...Thats Why a Mechanical trading system is better.... We can get reed of emotions completely...I am usually not emotional but...have been building Puts from last four days...And Now sitting on a 50-60 % profit....With a Huge Position...Dont want to even lessen the Position...I hope I am right today !!
What would qualify as the pulling of the RUG? A fall of 600 pts on the Nifty from here?
My intuition with meek understanding of technicals is compelling me to think the opposite... i.e. Long side
@Prabhakar
You holding conservative shorts? I m sitting tight with them, waiting
for the rug to be pulled, may be tomm.
My God !!! Dear Manoj 600 points from here is not pulling the rug but the PLUG out of Bulls. We may as well practice the funeral march.
sir
its very confusing..nw it is again "b"
if i take 4985 as low
if v rally up then wht shld be
SLR 5080 or 5135 on closing basis..
Bears are almost silent from last 1 and Half Hours...
@ Manoj,
I see two possibilities.
A bottom is already in or near 4950 and a rally to 5100+ and then the fall - may be in June series.
The fall continues with brief rally upto 5040-5050 and fall big towards 4850 or lower and a relief rally.
There are no steep fall in the day/ week time frame which would qualify for a larger time scale correction. The FII selling & deteriorating breadth as well as balloning OI are the reasons.
DEAR RG & ALL
AFTER LONG TIME CAN WE SHORT IN JINDALSTEL
@Bizagra!
I am waiting for resell at 5020 level
Thank you.
@pis report,
I hope you now you got answer for the “double??” .... if you have missed it, pasting the lines below from master
"rug is going to be pulled out from under the bull's feet"
@manojag
Oops..600 points…I can’t sit that much tight as I don’t have any jean to withstand that much tightness :) just for fun mate..
Freinds buy TISCO
RG,
A fall from 5400 to 5000 has not been termed as pulling the RUG so my guess is that a fall of 600pts would actually qualify as pulling the Rug as then only the bulls would be zapped.
best
orb for this hour 5000-5008 broken on the downside
Sold @ 5000 Sl 5009 Target 4985
nifty futures buyers are far more than sellers..(as per a chart)..
does this mean something??
chances of recovery??
Ilango,
Thanks.
manoj
@ Manu,
As per the tech table, the low ema is 5026. If it closes below it today, the momentum will return to the bears.If not, some kind of range moves will be seen before the fall starts.
For the day, you may keep 5105 as a SL for shorts.
Muze Ilango ke Blog ke Jesse Livermore ke words yaad aa rahe hain......:))
Ilango Sir,
Resold NF at 5005
Thank you
problems in other parts of the world and we are most in red..
europe also recovering fast..
we r discussing TA here, but considering fundamentals over a broader picture..why should be go as down as 4800?? valuations support the present levels..we have already seen 8-10% correction..what more is left??
@ jay, on what basis are u giving buy call on tisco
Slide baby Slide ....Come On !!!!!
@ sir,
the levels have fallen to
5007 4999 4991
@ Mok,
May be ...we should look at "how the VAH, POC & VAL are moving higher or lower" to sense the undercurrent.
@obsessive.. charts reflect state of economy 3-6 months in advance.if markets are going to fall futher200-300 points , then there should sum thing serious wrong with fundamentals.
Wow!! Baby !!Cheers all.......I amnot usually this happy...But today I am.......Thank you all folks....
@ sir,
maintaining the shorts
max at 4944 the 3rd support sir [for closing basis] ?
will keep trailing anyway.
200dma coming days 4897 ...
There it goes!:)
OL:
what more is left??
Bell bottoms or Bull bottoms (Pants).
@ yoda
may the force be with the bears :)
RG
:) for the bell b
:) for the bull b
@illango sir, any update abt bank nifty. iam still holding short
Short covered @ 5060
@mok,
Expected this is, and fortunate, yes. Hmm, yay. (In Yodish.:)
50 % shorts covered created @ 5005
-arpit
Dear Ilango Sir,
I am silent follower of your blog since last one year. After seeing your blog I m in good profit. Thanx a lot for giving such a good Strategy of Low EMA and High EMA. I am using this strategy also in commodity and earned good profit. Yesterday I have re sold nifty at 5080 after seeing your confidence for holding short and today also in profit only due to you. I have just one question, what reason for holding short ?
I think Nifty Below 100 EMA ( 5100 )and below weekly Low EMA ( 5090 ). Your valuable reply awaited.
Sir
Can we consider part book here? coz its at last time low?
mok - one thing you notice among us. We are more cheerful when the market goes down than when it goes up. More of us with a Short bias?
Thank God... I didnt follow my Intuition for taking a Long and relied upon Ilango Sir's confidence.
Where should we book the shorts Ilango? 4930-40?
Nowaday U can say Mok sir, but best strategy is as Mr. Illango said "TREN IS UR BEST FRIEND". So v all will b buyer when Trend will b up...keep smiling everybody. Enjoy trading & be disciplined, either mkt will not like u to be here...
I will be posting at 2.00PM the chart that compels me to use the term - "rug being pulled out off bulls' feet".
Thank you all ...Guys ....I made a 100% Profit on my Option Positions......I was Hedging My Portfolio and this will help me buy the Blue chips back..... Thanks all for your support....
No RG,
we can buy when Gautam's [Hope things are fine there now]
3800 comes ...
and, whatever long, we will reach 5200 someday [if not the 6000+]
so, eitherway its ok...
[i hope your long is answered thus.
i will send you an excel on it]
:)
now we are on 4952 the 68.2% ?
and 4944 the s3 ?
@RG,
You're right. In my case it's clearly a short bias (it's just the fastest way to make money, falls are usually swift) and it's the relief to see a strong trend after torturous climbs in a correction.:)
BOOKED BANK NIFTY AT 9175...
Dear Mr. Elango
Shall I buy 5000 call now.
hi
dearsir ilango,
can i buy bank nifty at this level today bank nifty spot low is 9176
so at this level can we buy positinally?
regards,
alpesh
I am calling it a day today !!! Thank you all again !!Especially Yoda !! & Anil who is not seen today !! All the best on your Positions....
Hey Friends,
Do not just flag dry "Thank You's"... Join me in sprint no. 2 (Clicking Ads on this Blog)... This time it has to be 2 rounds atleast!
Part profit booking by "Intraday traders" is alright.
@ alpesh,
9170-9220 was a support zone. It may pause here. But there is no sign of reversal. Sometimes steep falls invite steep bounces...if you can handle it, do a trade but have tight SL.
Hi MOK,
just a correction to your comment.
it is 61.8% of 4675-5400.
:-)
NEW POST DONE
yes amit,
thats what i put ...
thanks.
your charts & calcs are a compliment to the market :)
plz keep giving your levels...
hisir thx
if i ahve buy at this level bank nifty so whats sl should be follow?
regards,
alpesh
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