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...
64 comments:
well,
gautam
thanks answering
so prompt and early
sorry to bother
u were so helping
I LANGO SIR
hatttttttttts off to ur levels
u said 5087 , it hit 5089
u said 1.35 pm, it hit 1.28 pm
WHAT A LEVEL
come on board
let us all say
KYA BAAT KYA BAAT KYA BAAT
for i lango sir
dear san
i hav been following ur blog
since day u wrote about ashok ley land and then andhra bank
i hav been judging ur calls,
i feel attached to them
u said ashok leyland 65 this week
it touched 65 this week
is there any way , i may know exactly the time u update ur blog
thanks answering
r parekh r
REPOSTING
Dear Ilango sir..
Are the following levels which you mentioned in one of ur msgs earlier are the NEW resistances to watch?? as NF came back from 5094-97 levels..
"(5094-38%; 5101-50%; 5108-61.8%)"
Sreeram
@rajvada
that's right. So can we see some more upside from
here. Master can give better answer.
thank you
we have been leading the trend for last few days..when europe started in red, we started to climb up..and now europe back in green
Offtopic: Kasab has got death sentence
Ilango Sir,
I read your response late and have gone long in Nifty @ 5094.
Should i book loss and exit the trade?
Thanks,
Pragati
@ illango & Gautam, Rajvada
This seems to b completion of 3rd, and 4th up is seems to be restricted upto 5160-5180 max
all setup including macd, price oscillator points a high possibility of 5th down.
so is it advisable to trade long in the mean time, or remain out, and wait for 5th down to initiate,
huge call OI outstanding seems to b supporting this view, v shld look at eod basis thats ok..but as of now, what?
today almost as of now on an avg 7 lac positions got added in 5000/5100/5200 calls
plz reply..
@rajvada
the bigger IH&S you have mentioned. i have put it in the
5 minutes time frame.
http://niftychartsandpatterns.blogspot.com/2010/05/nifty-5-minutes-chart-shows-bigger.html
thank you
San,
aZ and rpr are late. I conveyed my appreciations first at y'day's eod post with a request. Also in your blog. Hope you will consider.
Thanks once again for the inputs.
Incidentally ALwas in my radar since it accumulated heavy OI with +ve price movement.
Is it time to exit AL - I go by the TA and holding it from lower levels.
San,
aZ and rpr are late. I conveyed my appreciations first at y'day's eod post with a request. Also in your blog. Hope you will consider.
Thanks once again for the inputs.
Incidentally ALwas in my radar since it accumulated heavy OI with +ve price movement.
Is it time to exit AL - I go by the TA and holding it from lower levels.
ilango sir can carry nifty long for tommr
oops...sorry. as such i take more space and now duplication (triplication-did it at the end of last post)
=========
Hi Anil - incidentally your levels were cited as the "hurdles many times in the past and may repeat" by Ilango. Is there any way to short now for 5180 ?
@raja sir
i have given conveyed my thanks and have given a reply
in the same post for your suggestions.
I hope you will see it when time permits.
stay long.. this need not be a 5 wave down..
hold with 5080 sl now..
abv 5150 we r only goin up up up !
5500
Sir,
I got long position taken at 5070+ level. I saw your msg about taking posn at 5035/5060+ late. so when nifty consolidated at 5070 area, i tiook posn.
Reliance is not moving at all and the case verdict is still there. So now my worry is for any sudden reversals.
Nifty future is 5100+. So now where can I keep my Stop Loss in case of any sudden bad news.
Can you also confirm, if the long position is conservatives.
Off Topic: KASAB is now definitely going to Kasappu Kadai. But I have a doubt. How they can hang him 5 times and give life sentence 4 times?
dear gautam and i lango sir
is it time now to say loudly
KOI DAR NAHI
for longs
@ Sreeram,
That was a retracement resistance meant for 5133 to 5071 which is of no relevance. We take each segment of the market to trade.
@ Pragati,
There are charts , there are levels and you need to be there to take some comfortable trades. You are in the direction of the short term trend and hence, it is OK.
Thanks Ilango ji..
For clearly my mis-understanding.. thank you again
sreeram
rochak I would say that above 5150
Good Afternoon Everybody....
Ilango sir, i exited my long with 50 points profit, dont want
to carry longs overnight with negitive tech setup.Great day for me.
Thanku very much.
Good Afternoon Mynac..
Hope you will share your valuable thoughts in the short time available for you from ur work..
sreeram
@ rochak,
No loud declaring.... It is still in downtrend.
A first sign of reversal will be a close above "Day Low ema"(Aggressive) to be followed by a close above "Day ema".
initiated longs in
banknifty at 9500,
took some risk - dAYS LOW as SL.,
@mynac
ws waitng fr u..
dear ilango sir,
bank nifty create double top at 9920 and now become a double bottom at 9450
so in this cash which trade is perfect for trade
plz suggestion
regards,
alpesh
Sir,
Just a clarification. Now we are retracking (nifty spot) 5340 to 5038 down move. Am i correct ?
So 38% is around 5150
50% is around 5190
61.8% is around 5225
So we must be selling between 5125 and 5200. Above 5200+ correction must be over.
Sir
Where do you see resistance to Bank Nifty. It has gone up about 150 points from 9460.
Regards
Suzlon is going to form a big candle on daily charts with good volumes.
got into long along with TataSteel
Dear Sreeram,Dear manu,
Even I was eager to join as early as possible but some how could not.o.K.
Added 27 lac + O.I. in Nifty future is at present main concern.If it will shed in the final bhavcopy then no problem but if it will remain then it will be tough for nifty to climb up with this kind of huge O.I.
@ KGovind,
5345 - 5202 = 1st wave
5202 - 5292 = 2nd wave
5292 - 5038 = 3rd wave
4th wave should not breach 5202.
hold long sl - 5095 (5100) will offer supp
if we close 5108 - ema low - 5118
above this we should be good as long as 5090 holds
@ Hitendra,
BN may have a resistance around 9650 to 9690/9725.
Breach of 9742 may confirm end of correction.
Bye Everybody,
Some is waiting for me,out side.
Thanks.
dear san
i hav been following ur blog
since day u wrote about ashok ley land and then andhra bank
i hav been judging ur calls,
i feel attached to them
u said ashok leyland 65 this week
it touched 65 this week
is there any way , i may know exactly the time u update ur blog
thanks answering
r parekh r
@ illango thanks for wave count
already written calls at start of expiry though covered 75% today,
just waiting to cover remaining ones.
dear ilango sir,
bank nifty create double top at 9920 and now become a double bottom at 9450
so in this cash which trade is perfect for trade
plz suggestion
regards,
alpesh
Sir yt should be the sl for long now?
@rochak: In the address bar near the address of the blog, do you see a orange color button which when clicked gives you an option to 'subscribe to RSS'??? You might subscribe to every blog that you wish to follow. Use Google reader to follow your subscriptions. Hope this helps your purpose :)
ilango sir can i carry nifty long for tomm
San,
Your 5 minute IHS achivedr taget of 39 points.
STBT ANYONE:
=========
Scrip Name Care Day Week Target
ABB Care-Trend Can Reverse Over Sold 686.53
ACC Care-Trend Can Reverse 863.41
BHARTI Care-Trend Can Reverse 287.28
BHEL Care-Trend Can Reverse 2389.18
CAIRN 286.84
GUJAMBUJACare-Trend Can Reverse Over Sold 109.57
HDFC 2712.37
HDFCBANK Over Bought 1872.49
INFOSYS Care-Trend Can Reverse 2635.38
MARUTIUD Care-Trend Can Reverse Sold 1255.72
REL Care-Trend Can Reverse 1029.97
RELICOMM Care-Trend Can Reverse Sold 154.82
RIL Care-Trend Can Reverse 993.91
RPOWER 151.67
SIEMENS Care-Trend Can Reverse 653.10
TATAMOTORS Over Bought 796.03
TATAPOW Care-Trend Can Reverse Over Sold 1280.84
UNITECH Over Bought 75.08
WIPRO Care-Trend Can Reverse Over Sold 650.10
Please Read as OB/OS is given under "Day/Week" headers.
@ Manu,
Tech table shows 2 supports @ 5089, 5073.
4th waves are complex especially after a steep fall.
Sir
Me too Holding NF from 5080..Shall i HOLD for tomorrow
Ilango Sir,
Any long/Short in Nifty Future for tomorrow?
BTST
Scrip Name Care Day Week Target
BPCL Over Bought 544.30
CIPLA 350.92
GAIL 432.58
ONGC Care-Trend Can Reverse 1053.46
RANBAXY Care-Trend Can Reverse OB 470.06
SBI Over Bought 2345.17
SUZENER Care-Trend Can Reverse O Sold 72.06
Reposting...................
dear ilango sir,
bank nifty create double top at 9920 and now become a double bottom at 9450
so in this cash which trade is perfect for trade
plz suggestion
regards,
alpesh
@RG,
Strength of STBT shows that we have pullback tomorrow too..
Carry shorts home?
@sir
thnx..
i m long till RIL-RNRL hearing..
wht if it s adjurnment:(
One of the quorm members gets loose motion:)
Expecting a new low tomorrow by 1.30-2.30 pm and then some profit booking in shorts by Weekly positional players.
Patterns formed in lower time frame opposing the TA in larger time frame should be at best avoided .They have higher probability of failure. Price indicator should be given priority,
For Tmrw----
-S/L for shorts can be today’s high 5125,which is also the highest volume area in 2D vol.profile charts.
- S/L for longs will be tmrw’s pivot and today’s highest vol. area in 5090 region.
Hedge the Longs with 5000 puts. A close above 5105 would give confidence to carry it.
@RG,
Unitech overbought??
@ alpesh,
BN came to one of the resistance levels suggested 9625. You may get higher level tomorrow to initiate a sell. Till the trend reversal is shown in tech table, sell into rallies and also buy closer to the lows.
Ilango Sir,
Positional Shorts in NF arestill there?
Thank you
Ilango Sir,
Can I resell my Positional short in Nifty Future?
Thank you
Amit - Weekly shows 93 and 95% in 5 and 15. Not day.
@ Prabhakar,
"Shorts" as per the table remains.
A choppy trading range is on. Best way to trade it is to play each day.
Ilango sir, as not closing above 5105 , i m not carrying
any position. will see tomm.
Thanks
Bye Sir. Mynac got back to work - hi.Hi AAR VEE.
Bye All.
friends
what are the short term targets for DLF and SBI??
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