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...
68 comments:
Illango,
It's the second time I have seen the MP Pivot take
precedence over the 200 day MA.
Last time the same had happeneed around 4675 levels
when 200 DMA was around 4650 odd levels.
That time also there was a 30-40 point gap.
5180... supply hap.. watch for pullback, utilise it to buy..
Viren yt U say we can now see a like rally just last time
From 4675 to 5180?
From 4980 to 5555?????????
can a RIL 1020 be bought since RIL is + 100 in less than 2 sessions
-ve div again. Last time I said, we had the huge runup :).
gd
france is up by 7%
anil&RG,
thanks for clarification
Good Afternoon Everybody,
GB : Can Short in GOLD be held ? Pls keep in mind to post S&R for Long.
(remember your giving down target on Friday).
Dear Ilango,
Now do you get the feeling that Nifty is forming base @5164-65 to take a ride up to 5200+? Pl.Let me know.Thanks.
"5160" is breached.
Positional shorts created @ 5275 may be closed.
Short term TA turning up. Tech. table is "all green".
Start initiating "Longs" in small quantity and more may be added as long as Nifty is above 5082.
21 Hour high of 5138 was scaled @ 12.00Hrs - was the early indication - Missed out though talked about it only yesterday. Never imagined it would be so swift...
The follow up 5-day High clearing is pending.
RG no gold futures in mkt. only eTF
1540 BY JUNE 18
hello
Dear Ilango,
Thanks.
ANIL
ur mentioned levl 17275 has been taken out
ANY INFERENCE is to be taken
thanks answering
rochak
what is a Gautam Bajaj blog address
plz
please
5 day high on closing basis - 5222
Ilango sir, going long at this point is also for conservatives??
Thanks
Hi GB,
Gold 05-June-2010(1Kg lot) short at 17932 - Holding. Is at 17455. I am 1 month old in this part of the jungle. Now do I hold?
http://when2buy.blogspot.com/
GAUTAM s blog address
:) yes RG. Hold with SL at ur cost for now
Ur playin in MCX?
Ilango sir,
can we go long at 5190.00 NF is for conservatives Trade ?
@ Rochak
This is the same level when nifty took multiple supports, while coming down and break of it confirm downside.
any sustaining of index above this can be construed as positive sign..
panic buying in RNRLLLLLLLLLLLLLLLLLLLLLL
Thanx GB. Yes MCX. Shorts in Gold. Used to call commodity market "Junk Shop" - now got emplyed there !!!
:)
avinash - its open to view
PS : Monday 2.30 playing out?
Tisco target achieved.
http://tradingontechnicals.blogspot.com/2010/05/tata-steel.html
yes rg sir,
playing out perfetcly
@Raja
must be smiling now....
@Manu
u r welcome...best wishes
sri
Sir,
the triangle breakdown @5190 levels on 4th May took Nifty to 4980 levels. Now this pullback has taken tnifty to the lower boundary of the triangle again as seen in the hourly chart of NF, which comes to 5205 currently with the hourly chart highly overbought. Is it possible that Nifty is just testing the last breakdown level and may reverse from here once again? In that case, could we term it as only a dead cat bounce? Hope you would rectify any mistaken observations of mine.
Thanks,
rochak said...
panic buying in RNRLLLLLLLLLLLLL
===
Wild guess - Loud Thinking: Can anyone think of RNRL and RIL merging and becoming one entity? Just a crazy thought. Without oil, nothing in RNRL. Will there be a swap of companies between the brothers. After all MOTHER is supreme !!!
GB sir, sud i short @5220 or go long here for yr targets
5220, 5320...plz clear
Thanks
raja
contradictory thinking but possible
but that wud not happen before ambani brothers take this RNRL to the 38-40 levels, suck all the deliveries from the innocent investors whom they sold out @ 70-74, and then throw the same news out in the market which u mentioned, with RNRL inching 40 % - 40 % plus 2 consecutive days, this is how rnrl run every alternate 2 years
mark my words
regards rochak
hello
is there anybody watching buyers vs sellers chart
till now sellers are nearly 5 lacs or so..
suddenly they r matching buyers,,
something deceiving movement is going on...
or is it the same old tricks..order books are jagging up both side only to confuse traders..
hell what is going on..
Rochak - I am still short from the judgement day - holding. Will certainly buy when/if it comes to Rs 20 levels. Funny, I had such wild thought on Bank of Rajasthan 1 month back and posted. My friend Sri warned me off. Today BOR is persued by both HDFC and ICICI.
Dear Anil,
The possibility is the other one"Confusion"
@ Rochak
i agree with you..
With RNRL anything can happen
this is my belief..
stocks beahve like a storm, dont know which way it will hit...
better to stay away...
@sri..
ur mercury on thurs for reversal came in 2 dy ..think so..
Ilango sir, sud we wait for a dip to go long or try here??
Sorry for asking 2nd time.
Thanks
@ bimon,
You are looking at Nifty from a particular pattern. And there may be many others developing simultaneously and may become clearly evident at certain times.
My decision is purely based on "price strengths & weaknesses" as reflected in the Tech.table.
@manu,
ha ha not at all.
It becomes direct only on thursday.
Today moon is in saturn nakshatra aspected by retro saturn and with jupiter
expected rupee to bounce for FII to create position which is happening...lets see where it goes...
sri
@ bizagra,
If you take only one lot and trade the big ranging corrections, such doubts are natural.
I had earlier suggested a resistance area as 5190 to 5200 but the prices are firmly above all ema. If the pull back is weak or of a running kind, you miss an entry. If a good pull back emerges, you again are left holding at higher level.
Hence, I suggested in small qty and add during corrections as long as 5082 holds.
@raja
RNRL - there is some expectation that govt might tweek its policy to accommodate RNRL..is it published item
second rumor is there is some compensation clause in MOU as per that now Anil wants bade bhai to take this co and give him cash compensation something like that....all rumors..
sri
@raja
read between the lines of Anil's pointwise reply after the court verdict...take it to its logical conclusion...
sri
sir,
pardon for interrupting but week is still negative
such days of complete one way move r rare.
keeping weekly in perspective shudnt we short at higher levels
than taking longs now.
Yes Ilango sir, i second it. technically it hasn't given any intra day entry today in terms of price retracement, by looking at the global cues are tremendously strong and hence till dow is due to take it and currently we can see dow fut trading 415+. So we can expect a strong open hence 25-50% of capacity is advisable. In any case it turned down at opening tomorrow we can very well average it as 5160 is taken out. regards.
BTST :
Scrip Name HIGH-Rs
AXISBANK 1267.05
GAIL 435.60
HCLTECH 407.91
HINDALCO 179.03 *
M&M 562.47 *
MARUTIUD 1313.74
NALCO 414.30
NTPC 207.40
ONGC 1061.23
RIL 1095.95 *
SAIL 222.76
SBI 2333.70
SIEMENS 706.49
SUZENER 72.10 *
TATAPOW 1352.05
The starred ones only have volume support - more than 5/30 day volumes traded.
It's ambitious but expecting a target for NF today 5213.Let us see.
Ilango sir as 5160 is breached, it is confirmed that downside
was corrective and now we are in impulsive wave??
@ PS,
You are a trader...by the hour & day.
Last week, the week TA was up but market fell to a low of 4987.
This week, the week TA is down and I won't be surprised if it moves to 5250 at open tomorrow.
When you have to trade, OB, OS, divergences with different time frames are the only real help with the tech. table indicators.
Month TA is UP and I wont be surprised it closes at the lowest .. It is a possibility but we try & trade the probabilities.
thanks sir,
retook longs closed earlier in day
As per TA of 07 only ONGC and HLL selected for BTST - both paid off. Bad shorts (due to trend reversal) in HCL.
Went long in above BTST. Not initiated any shorts afresh.
HCL on buy list and initiated a Long in next month to cushion wrong short.
Bye Everyone.
Thanks Dear Ilango.
bye bye every one and thanxs llango sir ... bye gautam sir and raj gopal sir ...
Hi Sri,
Supreme - Supreme court will intervene !!! Last time it was the Mother who did the rescue act. Why not this time. After all Chottu ladla hotha hai !!! What a topic Ilango selected for the week end post !!! If it is going to be a meet between Mom and sons and servants (not bahu ranis) who are in attendance, I will close my Short and go long in RNRL.
Pure technical thought !!!
Bye Friends. Sri think of some BOR at lower levels.
Sir,
Thanks a lot. I definitely suffer from many bias from time to time.
Thanks once again,
This bounce reminds me of the time lehman brothers went bust.
There was a snapback like this and we all remember what happened afterwards.
The power of these pullbacks during a correction is always surprising. I doubt if it can sustain 3 days though.
Ilango/Mynac
Isn't strange. Following is observed in RIL.
OI Change
07.05 17641500 722100
10.05 15535800 -2105700
With increase in price, the OI is reducing. Are we taken for a ride. Is it position unwinding denoting no confidence in the rally or people who entered at real low encashing.
RG sir.....its just but short covering !! When price increases with the decrease in OI, its covering of shorts. And if, price decreases alongwith increase in OI then its accumulation of short positions.
let me know if you any further clarification.
regards
Dear Rajagopal,
What a wave length we people have? Because I was just going to tell that Reduction in Nifty O.I. is indicating the more up side in Nifty.
Dear Rajagopal,
Though I do not have absolutely any idea about Reliance,still I can say that this is a indication for further up move in Reliance too.
RIL - 1240
Intriguingly, SGX nifty is fluctuating b/n +10 to -20 points. Baffling !
Any comments from experts plz ?
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