Further weakness would be only on a break below 5178 (Pivot @ 5180)
Retracement strategy, a must for traders.
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5010-5039 supply zone proved a ST resistance. 5002 proved a break down point. 4945 to 4982 proved a corrective rise, monitored with an ... -
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31 comments:
@golfdude.
You are right about IFCI. Only a huge volume break out can lift the stock from current levels. And yesterday the stock touched a high of 56 but still the volumes are not great.
test ...
i thing if nifty breack will 5165 then will be come 5060. what u thing
test..
Hello Illango Ji and all blogmates
sir i am short in Nifty from yesterday....but having long in banknifty too......and banknifty seems weak now.....should i xit in loss...
@nitin
me to THING
regards
vikram
Hai everyone
Nifty breaks an important trend line in hour chart. Below 5155 may get a good correction. if 5180 gives support we may go higher.
http://niftychartsandpatterns.blogspot.com/2010/06/nifty-hour-chart-trend-line-break-trade_15.html
thank you
@ Vikram,
Trend being up, you will get higher levels.
These "shorts" are for "intraday players" for the short term only.
sir
sir 5178 nifty spot or futuer? plz
ilango sir pls reply i am waiting for your advice
Sir, whats your view point here ? Though I know that there would be intraday fluctuations in OI and IV, I see good and steady build up of OI in 5300 call ( writing ) which then is a cap for the immediate term.
With DAY frame OB and day-to-day jitters in Europe, is 5300 ruled out ?
How do you see that sir ?
regards
Trade by the levels given as well as pick up some clues from the tech. table - like the Hour low ema (5177) has more or less given a support.
Keep taking small profits in shorts as the larget trend is UP.
"Education is the ability to listen to almost anything without losing your temper or your self-confidence." - Robert Frost
Market is the place where only result speaks not fancy degrees, that's why I am here.
-Crorepathi
Hi Everybody!
As of now Nifty supported very well Weekly High 5EMA @5170, buying in dips showing great momentum. Above 5210-5220 it will blast but most probably that should be by tomorrow. Today looks a consolidation day, all the best.
Rgrds,
KUMAR
I see I'm in the minority here re: education.(Robert Frost, see? No temper or loss of confidence:)
ok sir thanks
5200 options OI not changing today and favors shorts.
-- gd
Yoda: u r behind me.No temper or loss of confidence - only two. I don't have the third also "Edu.."(don't know the spelling).
If the market holds about 5190, we may witness
short covering and sharp upmove in the afternoon.
5250 may come sooner than expected.
Europe opening lower but trying to recover
@ Ka,
The weakness is "Only" seen in Hour & 5-minute charts and that has come about exactly at the know resistance @ 5200.
Daily trend indicated by macd is distinctly UP. But the leading indicator stochastics is reaching OB.(No sell yet).
Daily low ema(rising) would be a good Sl for conservative longs.
As long as 5100-5120 holds, it may break past 5200 to 5250 & 5300.
Grt detail. thank you sir. infact my charting data was down...i did not notice that...sorry.
Dear ILango sir!
It was ur msg on 10th june @2.32pm "If the close is firm above 5051, a decent rally should take it first to 5105 and then if it comes out of the major trendline res of day, more higher levels". I m still holding Buy Nifty since then, why???? Bcoz after that Nifty never gave any strong sell signal. Discipline is more rewarding then news, rumours & all. Thanx for giving us very clear cut analysis in advance.
Rgrds,
KUMAR
R2 - 5241.
The rising channel resistance would be 5225-5245 for the day.(In 5-min chart). Similar channel has 5300+ as resistance in day chart..!!
sir,
i guess nifty may again dip to 5170 levels and may close near 5190,tomorrow may see nifty making higher highs though by small margin of 10-20 pts only..may consolidate in 5150-5250 range for some time be4 breaking out for 5340
Sethu,
I covered my short by going long in bank nifty. tcs was covered at 769.60.
now intraday long + conservative long still holding from 5152.50. now this time going with trend.
Looks like its doing a sideways expanding triangle to gather speed for 5300.
:)@RG, actually I have a terrible temper. But your peaceful nature comes through everyday.
Do a lot of amateurs feel like David in "David vs Goliath" ? I sometimes do - i feel market has gone up a lot, so it has to correct. Oops. Trend is Goliath. FIIs are Goliath. No use fighting them. When they change, u change.
To myself - repeat a 100 times - "FIIs/Market/Trend are friends, not your enemies."
-- gd
Sehtu,
how i find your tweet address
Ilangoji,
Negative divergence in both 9 and 14 hour RSI. Any intra correction in hand now?
5100 PUT is back in picture with good writing with the sudden change of circumstances....
AT the same time, 5100 CE is seeing good short covering who had built up since morning.
5300 CE is back in the recokning with a very good build up of 7 lacs today. But 5400 is still struk.....probably, people are still sceptical of market targetting 5400.
regards
Yoda - U have nicely warned me.
===
Sethu : Expecting 1080 from Dada today. May be the hyper active Chotta Saheb curtailing the speed. Holding since Long.
My interest is more in RIL when the down trend happens. They have announced more "Outflow" plans thatn ADAG's "Inflow" plans.
May the market fatten the Camel.(I am a veggie).
NEW POST DONE
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