(May get repeated once more later).
@ IITian: the New Kid on the blog - You nailed the big fall yesterday afternoon. Good start to your joining the enthusiasts.
@ Satheesh: +ve divergences that appear during 3rd waves are traps. The other way to look at it is - a critical channel breaking time or higher trend like Day, week yet to reach the OS levels.
@ golfdude: Replace the day & week data of "Nifty T.A" file with S&P or Dow prices (Can be downloaded from Yahoo Finance)
@ Rajagopal: "OS" may remain "OS" in a strongly trending markets till daily bottoms(lead indication from stochastics) and then a +ve div (Rsi or macd).
@ Warlockar: Settlement will be closer to the lows - could be 4700.
@ Narasing: I have been posting regularly Bank Nifty analysis in my other blog - "Stockwealth"
@ asrani: Never count your winnings....just be in the Now - so much is happening.
50 comments:
RaJGopal Jee - Gold at 1150 on Tuesday.... we are almost there....
Illango have you observed the leading linkage between USD NZD as a proxy for risk aversion or acceptance... as i had written? If you have, has it helped you?
ilango sir,
How does one interpret the "Trade: 4805 << 4835/4850 --- 4880/4890 >> 4925" line ?
Thanks
gd
@ fritzroyreport,
I have been following US $ index and your inputs have definitely helped. Thank you.
@ golfdude,
Nifty may pause around 4835 to 4850 zone and may have a intra bounces upto 4880/4890.
If breaks 4835, it may fall upto 4805 or lower 4765.
If clears 4890, it may move upto the earlier resistance & VAL @ 4925.
How these will unfold in the market place in real time is a challenging one. We know the main direction - i.e DOWN but the corrective upmove/ sideways move are not known. EW helps in trading them but they are not a guaranteed one.
One can keep selling into intra rises till the LH & LL stops and market start to clear the last high here the previous high being 4980 and this keeps changing as the market goes down.
Hai everyone
nifty line chart near channel bottom.
http://niftychartsandpatterns.blogspot.com/2010/05/nifty-line-chart-channel-should-hold.html
thank you
ilango sir,
Thanks for your response. That file refers to Data.base.A.xls and Data.Hour.1.xls. Where do I find these files ? I didnt see these files in the download site. Any ideas ?
Thanks
gd
dear ilango sir ,
thanx once again for the wonderfull tech analysis
GOOD MNG ALL FREINDS AND BLOGMATES
@GB hope ur father is recovering fast and all the best wishes for u and ur family.
@ ilango sir
ur so gr8 and still so humble shows ur strength of character.
hello ilango
HATS OFF for your patience
do we hear a sickening thud ... RV's ABC not far away ..
hi all ...
Good Morning Sir & classmates.
the premarket 4825 4840
@san
4850 sup perfect as for now
GM Ilango, rm and other mates!
If this helps to the traders here - AUD USD broke its 200ema, broke its 2yr ema, LME Copper has broken down its 200ema, 100ema, AUD against CHF has broken down its 100ema, AUD against JPY brokw its 200ema -- signing off...
Hai everyone
THE TRIANGLE EFFECT
http://niftychartsandpatterns.blogspot.com/2010/05/triangle-effect.html
thank you
If with no positions at opening... Can we short near 4870? with SL of 4880-90?
:) :) daxesh
Good morning Ilango Sir and all
=======
Sir,
Yesterday I booked my conservative short at 4925. At present no positions in NF . Please suggest me what to do.
=========
Thank you
Good Morning to ALL
Sir,
5175 Short
Part Book @4975
Reinitiated short @5101
Part Book @4966
Part Book @4915
Reinitiated @4973
Can we do Part Book here?
Sir & Family
Gm..
First time n my 3 yrs f trading i cleared hedge ..
even after sir,Rv,Gb tellng to keep thm..(may be my stars)
RG
sugar daddy is a adamant trader nt a wise one..
Dear Sir,
yesterday i sold nifty @4930.. should i book now or wait for further fall?
What should be my trailing stop loss to save my profit?
Dare,
Ilango sir said
=================================
Nifty may pause around 4835 to 4850 zone and may have a intra bounces upto 4880/4890.
If breaks 4835, it may fall upto 4805 or lower 4765.
If clears 4890, it may move upto the earlier resistance & VAL @ 4925.
=================================
Trade based on this.
Excerpts from idbipaisa:
The US Senate bill limits the size and scope of banks' investment activities,
preventing them from owning hedge funds and trading on their own accounts. It
also includes a controversial measure preventing banks from trading any derivatives.
Banks would be forced to spin off their swaps desks that make these trades. If this is
implemented in toto, it will mean a BIG withdrawal of money from all emerging markets
as derivative swaps account for huge amounts of money that is in play thru Prop books of
banks.
The event that has occurred is of a larger dimension and it remains to be seen if
the US lower house will also pass the same bill (there are differences, particularly with
reference to the point that we have highlighted above– which is the most damaging one).
So after the flurry of activity that will occur on the back of this action, markets across the
globe will pause to see how the politicians will play this one. Europe is still out there with
its problems but all of a sudden, there is an entirely new element that has emerged. So
don’t rush in with your money just yet.
The 38% retracement
of the July09-apr10 leg is at 4829. Gann line and retracement clusters are seen only
around 4650.
@all
Couldn't resist to tell you all, i too had projected this target in first hour on friday on 19th, in my blog, but yesterday's reluctance of nifty to move lower and activity in 4900 put restrained me along with positive div. for a bounce,(thats why i told SIL it may b possible here we may get a bounce) but we all know its nifty here. no predictions just probabilities>
Good work illango..
a true master ..
When i started your blog, a little 1.5 years back dont know abc of elliott wave, but now i am confident and dying to learn more from your blog.
'Good day to all'
Cheers for a great illango!
GM Sir and Friends.
Manu - S.
Gm Illango Sir,
Can U have any sugestion for me,
still stuck in longs? yt to do?
hi manojag
"will mean a BIG withdrawal of money from all emerging markets"
"don’t rush in with your money just yet"
says it all about it.
:)
you heard these here, i thought it applies often,
sorry if it is OOT ... but it is gems condensed ...
"Holding a trade depends on where it was initiated and for what target..
I got a bit concerned about your money. And forgot the merit of the trade.
To put across one's views in print requires a lot of conviction.
It is always good to have the "Ear to the ground"..
Often "self-belief" is the impediment. One's own experience alone can help to overcome it.
Above all, keeping a "low profile" helps.
Holding shorts also depend on at what level you have initiated.
Always cut your losses to a minimum.
Trade good set ups.
Strong money moves the markets and nothing else will matter in the short term.
We just can not ignore the big money outflow by way of FII figures.
"
dear RG CAN YOU give projected low of dlf
Ilango sir, plz give probable targets for this downmove? I hope
abc-x-a still on or 3rd is on as shown today? plz clear.
gm all.
Market calls predicting 4692 as the gann support.
(forgot to add the link)http://www.marketcalls.in/
hi yoda
hi RG
did u check the excel ?
Hi all,
my system given sell call at 5010 two
days before, i am still holding. my system based
on always in market either short or long. Now my sl is
at 4985 go long only above this level. Sometimes
given up all profit to market but in long run it gives nice
profit for than two year for me.
mok... Thank you very much for handing over those gems!
:)
bhope ...
Hello market follower
yt is ur system can U share with us?
We all can get benefitted with U
hi mok.:)
@market follower,
Do share your sell and buy signals. What do you use?
@ MARK,
Thank you for clearing the air for everyone.
@ rm,
I read your suggestion in justnifty group discussions that traders use the "Premarket view" and trade with their own inputs and share their experiences.
@ manojag,
That is a very good input - indicating the most important background developemnts that will change the flow of money.
@ Anil,
You are growing BIG.
@ Sethu,
I agree with you on a temporary bottom near 4800.However, one need to be alert to other damaging possibilities.
I am yet to see any kind of bottoming.
Lower highs & lower lows are continuing.
The day LH is not made, sme intraday long could be done like yesterday but the market never confirmed the pause "by not closing above "Day Low ema".
Now the day low ema is @ 4931. Before that 4908, the previous low.
A visit to 4800-4825 is a high possibility.
4800 to 4900 for the day...then.
hello market follower
please give details about your system. here all of us eager to know what your system is. thanks
Thank you Sir!
Read the corrections:
The day LL is not made, some intraday long could be done like yesterday but the market never confirmed the pause "by not closing above "Day Low ema".
Market follower,
You have mentioned your sl as 4985. You sold at 5010.
So you made a profit of 4985. Please increase your sl to 4920, so you
can save more profit - 100 points.
@ market follower
does ur system is based on swing calls, i mean many used in daily basis, nowadays traders used on hourly basis also.
@RG
Could u plz tell me what is going on metal side scrips...where u see.do u expect any bounce back??
no holdings just a query...
NEW POST DONE
day low ema now is 4973
sorry 4929
@ market follower
why dont you disclose your system.
@musti1780 and all,
Nothing any secret in my system
i am just following price only i.e higher high and
higher low for long and lower low and lower high for
short but it looks quite simple all are knows it. I created
some rule to follow it.
Again and again i always urge you that
wining edege is not in system, it depends on how we follow
it. I have only five year experience in this field but
living only with my trading income. I don't
even deviate myself from my system whatever happens in
any time. Money management and psychology is key to success
Trading is not hobby for me it's my profession to run
my family.
That's why i always urge treat trading as
a business don't more focus on news.
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