PreMarket levels as well as Tech. table would have helped the "Patient traders" to initiate trades at comfortable levels..
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...
61 comments:
@market follower
u have passed the phase of knocks.if u cud share
ur rules of entry and exit all cud benefit
That is correct piyush sharda
sir,
can conservative shorts be created again, if market closes below 4950....?
-arpit
testing
ilango sir - now as u said 4960 can be taken as bottom for intraday??
Bakri Mala?
@ arpit,
Always try to initiate your trades near the resistances or supports.
Today, for eg: 5027 - 50% retracement, 5020-Day high ema and 5020 also happens to be earlier price congestion zone.
Since it has come quite early in the day, Selling at that level with "Hour showing OB"(Mentioned).
As a reader pointed out, the trading for 2 days may be in the region of 4960 to 5030 to take away the premiums in 5000CE & PE.
Even now, if a sell has to happen, it should be near 5000 to 5030. Technically the sell will continue if Nifty fails to close above 4982.
When Nifty makes a high higher than today's in the region of 5050 to 5070, I would initiate a sell with a SL @ 5105.- It is an ideal scenario..
In the meantime, both longs & shorts opportunity will be there for "Shortest term traders".
Ilango sir, though i exited my conservative shorts @ 5025.
Thanks for the gr8 analysis and levels.Hats off to u.Now i
am waiting for 5050-75 to short again.
Sir having longs
Yt should be the level to look for carrying overnight
on closing basis.
@PS and all,
All opinion here are share all are my own
opinion, somebody accept otheres won't depends on their
psychology.Emotion can't gauge or scale with mathemetical
formula so entry and exit couldn't be exact point it
depends on current situation. I use system just to
control my emotions market won't follow any of their
system
One think i can sure try to read the
market(chart).What do it tells us either up or down or
side ways? How is possible if we don't have biased mind
set. Try to understand humans pschyology. Look this
example when in uptrend we all are talking about
only resistance or OB. so our mind has boundaries or
suspicious about trends so cut down our profit small
or try to short at top which leads to loss, look
for other side whenever in uptrend look for support
to go with trend and vice versa for short
Hai everyone
NIFTY HOUR CHART - THE TRIANGLE FORMATION
http://niftychartsandpatterns.blogspot.com/2010/05/nifty-hour-in-triangle-formation.html
thank you
@Ilango
Sir, how to find Resistance and support levels in chart ? is there is any method we can accomplish breakout levels ??
Awaiting your response.
Europe is weak not following dows up move also nkkie closed negative . if nifty does not close above 200dma and above low 5ema keep your holding shorts
Ilango sir, u gave "Technically the sell will continue if Nifty fails to close above 4982"
Can we initiate sell at EOD if closing below these levels or wait
for tomm.? (Sorry, i always keep on asking other side break levels
to initiate trade as a slow learner like me is always afraid
of loosing the bus, as many times happens to me)
Thanks
can any body throw some light on ONGC
sorry hold shorts if nifty does close below hourly 5ema and below 200 dma
PowerT : It had a great run. May be retreat from OB. Also check for the judgement day.
(RIL-ONGC case).
@ Murugan,
Go through "Technical analysis" write ups either under "Labels" section or "Always start trading with these".
@ bizagra,
Losing the bus is OK...but getting run over by the bus must be avoided at all costs. Tech. table does just that.
During college days, we are fond of catching the running bus. In the market too, one could wait for it to start to sense the direction and board. Unlike in the real bus, boarding in a trending market is not difficult.
Rightly said illango sir...
nifty consiolidating in 4960-4980 range for upmove or downmove???any comments plz
RG,
lot of thanks for the alert..still problem is there..will be corrected after a week only..now logging in from outside...
Ilango sir,
so kind of you for your advice on position..
Ilango sir, u are right. Now break of which level will say this
abc upmove has ended.:) (trying to touch my nose from other side).
Thanks
dear ilango sir or other learned bloggers of this blog
can u pl tell me in brief or detail where to buy/sell for positional, conservative, and short term trades and where to put SL
i m asking not in terms of the digits but the levels like 5ema of cl etc
i m a silent observer of this blog and feel this is the only heaven in blog world to learn lessons in trading and in life on weekends and ilango sir and blogmates r divine beings giving free edu and adv
as ur prev post says to go thru labels & always... , things r there but pl briefly summarise as it'll be easier
on friday brazil was up 3.5%,USA near 1.5%,mukesh anil patch up news...still then nifty not sustaining highs...something is cooking
some intuition might b wrong, expecting action @3.00 p.m.
deepak,
pls check "tech.table reading" under "always start with these" --right side column of the blog
@assortz,
GOD helped u by creating a technical snag,
market has fallen and the mark to market on ur shorts
is much less. strange ways GOD helps.
@PS,
i have exited shorts when it has taken 5020.. :)
5070 may not come for some till nifty sees further lows..
Ilango sir, plz suggest , abc correction seems to be over?
oops..ambani brothers cant give life to bulls more than half day..
again a fight today to close above/below low ema
Hai everyone
NIFTY HOUR TRIANGLE UPDATED
http://niftychartsandpatterns.blogspot.com/2010/05/nifty-hour-in-triangle-formation.html
thank you
@ assortz,
Exiting shorts @ 5020 was not a good idea especially with 5020 as day High ema. As of Friday, Nifty was below 5 dema-downtrend - sell on rises and it came till 5029 (I have put +5 above high ema) and has fallen. Another pointer to technicals working.
Nifty never closed above 5025 in the Hour too.
dear RG please give stbt/btst view on dlf
Ilango sir, the same mistake done by me as assortz.
Ilango sir, if we close below day low ema then???
sir,
just a query if time permits then reply.
Is their any possibility of terming this as running correction, if nifty moves below 4935(25% retracement level of fall from 5215-4840), and correction is still on.
Ilango Sir,
======
Any Long/short for tomorrow?
Thank you
========
test
Humpty Dumpty sat on a wall(was made to sit above 5020)
Humpty Dumpty had a great fall(expected)
Humpty Dumpty will have more falls(wishful thinking)
All the kings men and King(Ambanis) himself could not put Humpty Dumpty together again(for the time being)
I am waiting for dip to enter long it may be
available tomorrow at 4860 to 4900 i won't short
until breaks of 4835
Bizagra!
Day Low Ema is 4931 or 4937?
Thank you
Bank Nifty break Low EMA 9164 and I shorted Bank Nifty CMP 9065, thnx to ILango sir for such a good streategy
Ilango sir plz suggest? sud we short?
huge discount...what is happening?
@ilango sir
It was a "emotional decision" and i agree that
i realise now that it was a bad idea..
I remember Day high ema also had 4985-5020 RV's range in mind..but when i was disconnected from tech.table reading and discussions, i couldn't resist closing shorts when had a call from broker saying spot @5025..
i might have "sit tight" if i was in live action...
will be more sharp..
Yes..Anil,
It was mentioned earlier that if 5070 is not surpassed decisively, the fall from 5215 continues with sub labeling as 5215 to 4842, rally to 5029.45, next fall to ......
Thanks Rajgopal Sir ........ Actually today i have taken 21 lots of ONGC 1000 JUNE Put.......So in panic some what........When is the case Date ?????
Patient traders... Enjoy :)
Bizagra,
Any shorty position for tomorrow?
grawsh, what was that all about? Crazy fall.
Ilango sir yr above comment means abc upmove done??
do not try to trade all the waves... ride the bigger waves... else it affects your psychology when putting trades in future...
@prabhakar, masters last comment " the fall from 5215 continues with sub labeling as 5215 to 4842, rally to 5029.45, next fall to ......" made me to short one lot minifty.
@Bizagra!
But I didn't understand Sir's comment. No positions for tomorrow.
I catch only, if Sir posting as "Hold Long/short or initiate Long or short." Otherthan this I can't understand.
Thank yous
@prabhakar, today i made a big mistake, i exited my shorts @5025.
But wht i understood from masters last comments is that abc upmove
ended @ 5029, so took a half quantity trial.
@Bizagra!
I exited my short at 4990. I think you followed SL5025 (as per Pre market table) Power will off by 4:00 P.M
Bye thank you
Dear sir,
I am go through weekly chart of Nifty. its weekly 50EMA is 4830 and Nifty's low is 4842.
so i think may be nifty bounce back in nifty.
so is it advisable to go long in nifty for a tgt of 5120 with Sl of 4800 for next week???
Rajagopal said...
Sir,
Is our market EW so fickle ? Based on Global cues, I expected a 17-20 point gap up. But just because two brothers shook hands, did we get another 50 points?
==Posted in the forenoon.
Mr Elliot and the Waves must be smiling at my ignorance. I forgot that nature allows man to try all distortions before proving who is Powerful.
My apologies for underestimating Mr Elliot Sir.
===
RV : Pain relieved.
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