to close the Hour above "Hour Low ema"..
(Caution, however, about the larger trend being DOWN)
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...
35 comments:
Today if Market closes near 4929 and not go to 4875. It will create a :Bullish harami" candle or a doji.Both of which would suggest a short term reversal of down trend and short covering could take it to even 5050 in short term. Comments needed.
Ilango sir,
what shud be the SL for BankNifty Short.
today it touched the neckline and came down.
Musti must have guarded by the photo finish :)
Dear Ilango and Blogmates...
What can be the possibility on Nifty Future in terms of short covering due to expiry ? Shorts could get stuck if there is a short covering well before the expiry...I sense that Bears have to take care in being so headstrong...at the same time maintaining a bearish stance. Comments needed from all of you . Thanks. No comments in earlier post ???
Sir,
I hope 9-RSI has reached to comfort level for aggressive longs..
Dear Ilango:
Do you think Hr 5-ema 4945 NS is acting as stiff resistance?
What is your advice for those who took longs at 4940? Can we carry it for tomorrow? or close it today.. i know long term trend is still SHORT
Please advice..
SIL
For BN Sl, 9325 to 9350 for positional.
Ilango Sir,
======
I closed my conservative short in NF at 4925 and initiated Long at NF 4925 Can I hold it for tomorrow? or exit now only?
Thank you
=========
@ Ankhurbhatt,
As my critic has often emphasised this very important factor of "Speculative markets" - the Shorts who are in good profits will keep their shorts till expiry unless a counter delivery based buying emerges.
The only one who is worried is "The Bull" - He has to come on every rise to exit his longs..
the way 4900 put writers are holding 4900 seems, on monday a rally upto 5015/5040 seems possible.
I will carry my aggressive longs can be carried tomorrow if we do not close below 4935..atleast you need to risk some of your BIG profit of conservative shorts :)
Pls read as 4925
@ Suchislife,
When we say "aggressive", it means it involves great risk...pure speculation. Nifty could move either way depending on external markets.
This one is not a certainity - a gap up. Risky trade - could give 20 to 30 points up if it favours. Alternatively you may hedge it with a PUT of 5000 or 4900.
@Anil..
Did you meant tomorrow(Friday)??
"on monday a rally upto 5015/5040 seems possible."
SIL
Thank you Ilango for timely response..
Regards,
SIL
Glad to know GB bhai's dad is well now :)
@ SIL
yeh its time wise, but u know nifty these days before time at every station so it may be possible tomoorrow..too..
@ Assortz,
I have uploaded the 9-rsi Hour chart with 3.30PM price assumed as 4948.
Thank you Ilango Sir,
=====
I booked profit in NF at 4943 initiated at 4925
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This is definately turning out to be a "Bullish harami" day candle. According to me, Bears should lighten their positions. or maybe switch to options.
hi
dear sir yr last comment u say " For BN Sl, 9325 to 9350 for positional."
for short position ?
regards,
alpesh
@ alpesh,
Yes..ofcourse for positional Shorts. Will revise it tomorrow.
@Bizagra!
Are you carrying conservative short in NF for tomorrow? I closed it.
Thank you
Dear Ilango..
I Shorted MINIFTY at the end of the day instead of buying puts, is it ok to do so?
my thinking is nifty can be rolled over rather than options which expire and premium diminishing..
SIL
Ankur - This Harami will go to 5050? That level is in VI range(the ultimate Index not VIX).He has already published it.
@ankur bhatt,
IT CAN BE TERMED AS BULLISH HARAMI AS ITS LOW WAS OUT SIDE YESTERDAY CLOSE FOR NF.
It looks more like a Bearish Thrusting Line. Only a price trading above todays high will bring bullishness and a sell will confirm on break of todays lows tomorrow. So watch today's high/low tomorrow. Trade the range till a break out is achieved on either direction.
Best
It did not hit or trade above the mid point of yesterday's candle.
For Sri - From David Rosenberg's letter - Monetization or printing may end up being the only end alternative. I know, and agree with you, that to have inflation you need demand. Where I disagree is that you can’t have inflation with such a significant slack in the economy. For those of us that lived or worked in the hyperinflationary South American zone of the seventies and eighties, inflation comes when people lose faith in the currency and see material goods as a store of value. Because commodities rise and the goods can no longer be expected to be made at the same cost structure, people assume that they will be worth more in the future creating a self fulfilling upward spiraling effect. You can anticipate that these state governments will introduce price controls as well as potentially fixing exchange rates worsening the situation.
I am not a doomsdayer---- What I have stated is after chatting with the best minds in the world in monetary system, traders, futurists, investors.... I am not saying that world will come to an end... but that the changes we would see in the next 5-10 years will be unexpected to most of the guys... Hence the greatest opportunity for traders and investors if they have their bets right.... Gold would go up, emerging market equities would go up, real tangible assets would go yup.... dare i say that i dont know how much...
From RBI's report - Detailing the various issues pertaining to internationalisation of the Chinese renminbi and the Indian rupee, the study argues that among the emerging market currencies, renminbi and Indian rupee are natural contenders for an international currency status.
@fritzyreport,
when there will be inflation, US will raise rates, it will be
forced to as all central bankers have to control inflation.
take out a 100 year chart, when US raises rates gold bull
market gets dented.
Piyush who can afford to raise interest rates when Sovereign themeselves are broke and incase you trade on the statistics by US govt one surely would go broke... So dont think for a moment there is mild inflation in US.... one decides if one has to save economy or currency...
good analysis,are you trader or just advisor ?
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