However, Hour would get "oversold & triggered" by 10.00AM. But with strong daily momentum, the corrections would be mild. The earlier "Strong resistances of "5015-5020" may offer supports (assuming here a gap up above this).
One needs to believe the numbers that appear in the Tech.Table and take action "no matter what the sentiment suggests" at that time. Those clamoring for "mechanical system" may have found something to latch on to. A toe in the water so to speak - take such "baby steps" with small positions to boost your confidence.
One of the "great utility value" of this Tech. table is when TA turns up or down, it shows the various points the market is likely to conquer or break and thereby set yourself some targets to meet and facilitate "part bookings" along the way.
53 comments:
@ilango sir,
I took a long based on ur comments only. Went long June future at 4934 and closed at 4994. Why did I close it ? I dont know - took profits. That shows my beginner attitude - not running my profits. But thanks to you, I made some money yesterday.
Go TT...
gd
Dear Fellow Traders,
I am new to TA world and I need some assistance in understanding the application of this chart mentioned in Illango Sir's blog. Pls guide me.
I wish to reconfirm that what I have understood is correct.
Thanks in advance,
Megha
Good Morning Sir & classmates.
Good morning ilango sir and everyone.
I am posting the NIFTY LINE CHART(DAILY) HERE. This move of nifty will reach at least 5152 were the first resistance in line chart is shown.
http://niftychartsandpatterns.blogspot.com/2010/05/technical-analysis-for-nifty-27-05-2008.html
thank you
Hi Ilango,
I took long at 4860 and holding.. I took only one lot(baby steps)..
:-).. Thanks for all your guidence and good work!
Shall i buy Banknifty now or wait for sometime..
All the best to all today..
Thanks
Gnana
@All,
Good Morning....I have posted my Premarket views on my blog. ( http://indianiftyanalysis.blogspot.com ) I am seeing Nifty touching 5100 today and falling back to 5050 and again close near 5100.
Happy trading.
Illango Sir
What is the significance of 9RSi ? Day is h6.30min trading and weekly is h32.30 mi .Pl. don't mistake me
Thanks
Bala
GM Ilango and Friends!
As per GANNS rule
"As there are 7 days in a week and 7 time 7 equal 49 ,this is often marks an important turning point."
Guess what April 7th -4399 May 25th 4786 (get the 49 days).
He also said in fast moving markets there will a 2 day direction in opposite to the primary trend (Wed/Thursday) while on the 3rd day (today) it will move in the direction of the primary trend.
Most Important Ganns retracement is 50% which works out to 5092 and last weeks high comes at 5094.
So i'll short around 5085NS, keep a stoploss of 5115NF and keep my fingers crossed
Test
GM Ilango Sir,
Can we buy NF @ CMP 5027 as a consevative long.
Thanks.
Sir what shuld be the sl in Tata Steel longs ? as it is suggested buy in stock wealth.
hi ilango
weekly channel support interchange channel resistant any major implication pls clarify
good morning everyone
hi ilango
weekly EMA and weekly channel resistant more or less same
good morning all. As of now 4786+236=5022 has provided support after the gap up . A convincing break below that can bring 4976= 4786+236*.786.
Good Morning Sir.
Good Morning Class Leader(rm) and Classmates.
dear rg sir,
gm to all ,im expecting ur presence
How many took LONGS when TT...
Sir,
I have initiated my S&R exactly on that date (major) further y'day. I am TOO LONG now. Based it on TT and 3 pm N50 Table trigger.
Hi Rajagopal
Class-trailer would have been a better choice. :)
Has anyone sold @ the open..? A mild sell...to see if 5015-5020 will hold.
For bank Nifty, refer
http://wealthinnifty.blogspot.com/
9360 res...above that 9407.
It should now consolidate.
I took a long after Nifty Cross Daily Low EMA at 4890 as on 26.09.2010 and hold till date. I am not emotional trader, I am mechanical trader and just play the level as per TA table. Just like HERO HONDA aid "Fill it Shut it and forget it"
Good Morning to ALL
Class Leader I will be out of class up to afternoon.
RG will take care of my attendance (yes sir – ullean ayya)
Hi u k Raj
Your attendance has been marked. Now you can go and watch Friday's release. :)
@ Bala,
Why 9-rsi. Because I have been using it for years and it has been reasonably good along with 14 period.
Many try 3 & 5 periods too. But I find 9 & 14 to be good.
@ Bhavesh,
Weekly ema is not 5056 but 5082(last week). This week's ema will be decided by today's close and what you see in TT is based on yesterday's close.
A close above 5082 would mean that bull's strength extends to weekly time cycle, of course to be protected in the following week as confirmation.
@ilango sir,
was waiting for 5050 wall to be hit and stay below before shorting. Is that right to do ?
gd
Sir & Family
Gm..
Steely nerves..:)
my shiva prasad sir request pending or dismissed
CL rm
Thank you. 100% opt for Class Leader.
RGs selection is always good??!!
Mynac,
Would you please come up with OI details?
Looks like 17 lackhs added to NIFTY JUNE in first 30 mins
Hi Ilango, how did the tech table signify a buy on May 26th?
Is it when we moved above the Hr-high EMA?Also would it have been
advisable to go long then since we never had any other confirmation
of a bottom being put in place?
@ Manu,
He has been very busy. But if certain developments that are taking place comes true, he may become fully available for exchange of views, probably from Oct.2010.
I am hoping "his true potential" is unlocked here..
@ gd,
As & when a resistance is met (here the channel), challenge it with a sell as the SL will be quite small especially after sustained rally with OS short term. Only a small qty as main daily trend is up.
If not willing to go against the main trend, wait to buy at first support -High ema (5010-5015)
DEAR ALL
CAN WE HOLD TATAMOTORS LONG
Is it okay to take positional shorts
at Current level on NIFT
sir i read somewhere but dont understand it clearly,
25 bars for trend,11 correction so average 18 half of it is
9
GM Illango sir,
I bought @ 4880 & booked Yesterday @ closing.
Now I short @ opening & cover with 12 point gain
Now after Nf not going down I long again @ 5035 Nf
With sl days low.
Am I correct Sir?
@all,
Intraday Post 1 Done on my Blog...http://indianiftyanalysis.blogspot.com
I expect a profit booking after a sluggish reach at 5100. 5091 being a resistance.
Good Morning Bala: jfyi.
Status of BTST - Equity.(27.05.10)
Scrip Name Target @9.50 am Status
BPCL 576.83 578.00 Done
CIPLA 324.62 320.80 Pending
GAIL 460.92 459.95 Done
GUJAMBUJA 110.69 110.50 Done
HDFC 2805.34 2800.00 Done
HDFCBANK 1908.84 1914.00 Done
ICICIBANK 882.69 877.00 Pending
INFOSYS 2697.19 2684.40 Pending
ITC 279.36 280.90 Done
L&T 1660.62 1645.00 Pending
ONGC 1136.59 1143.70 Done
REL 1092.34 1073.00 Pending
RIL 1045.75 1037.65 Pending
RPOWER 159.86 158.40 Pending
SBI 2281.35 2258.80 Pending
SUNPHARM 1660.24 1650.00 Pending
TATAMOTORS 775.15 773.70 Pending
TCSCONS 759.05 751.85 Pending
UNITECH 73.90 73.70 Done
Let's monitor the pending ones.
DEAR RG SIR,
IFI THERE ANY CHANGE IN TATAMOTORS PLEASE UPDATE
HEAVY POSITIONS LONG IN THAT
@ilango sir,
Thanks. Good call (as usual). I was away from desk and looks like i missed the challenge at 5060 and the small -ve div. Will wait for 5015 again.
gd
@ilango sir,
Quick question. The Hema was 4979 eod yesterday. How did u get 5010 ? Is it of 10 AM today ?
thanks
gd
Scrip Name Target @10.01 AM Status
ASHOKLEY 61.68 61.65 Done
BALCHINI 80.61 80.20 Done
BOB 728.63 703.70 Pending
HINDALCO 153.29 156.40 Done
IDBI 112.25 112.45 Done
IDFCLTD 158.74 156.35 Pending
IFCI 52.21 51.90 Pending
JPASSO 127.23 127.85 Done
LITL 62.49 61.80 Pending
RELINATU 55.66 53.40 Pending
RENUKASUG 56.83 58.30 Done
RIL 1042.90 1044.00 Done
RPOWER 159.33 158.90 Done
TATACHEM 334.85 328.50 Pending
TATAMOTORS 765.85 772.80 Done
TCSCONS 756.89 739.00 Pending
UNITECH 73.66 74.10 Done
YESBANK 273.23 276.00 Pending
SmartT-my intra target in TMF done. Sir has Long term plans on TMF nad TISCO. I am holding conservative Longs in both.(Ref Stock Wealth)
@rajagopal sir,
Please pardon me - as I have been ignoring ur stock calls. I am focussed on Nifty alone. But I just saw ur stock posting - all BTST. Do you post this daily EOD ? Is there somewhere I need to keep an eye for these calls ? Thanks for ur contribution.
Thanks
gd
NEW POST DONE
sir ,
please comment on it,
in my yahoo nifty chart (which is closest to ur xl file for
checking divergence) after this gap up the divergence has vanished
mach had made a new high too.
Above update on BTST - F&O
@all,
Nifty should fall to 5030 now...
could anyone help me with Rajagopal sir's blog address........?
Sir, as it is very difficult to enter values in
the tech table for 5-minute data, which online
chart do You use to see positive/negative divergence?
Hi risktaker
Rajgopal Sir has provided his file here. Link is given below the Label "Technical Analysis" on the top right corner of this blog.
Regards.
Sir, is nifty making reverse H&S pattern in 1 hour chart?
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