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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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...
49 comments:
Ilangoji,
Is there some Negative Divergence being seen in the hourly chart of Nifty now?
Sir,
this rally is continuously going on for 9 trading days from 4961 and 19-20 trading days from 4786.. so 9th and 21st day might be important for this rally for trend reversal..!!!!!
should nifty be shorted with s/l of 5375-85 as day 9 RSI and day & hrs stoch also overbought??
Ilango Sir,
Sold Nifty Future at 5370 with SL 5376 NS. My Stoploss is OK Sir
TISCO 50 points Inv. Head & Shoulder.
below is the (quick) chart posted:
http://tradingontechnicals.blogspot.com/2010/06/tata-steel-inv-head-shoulder.html
Thanks
Yes., there are negative divergences in Hour charts. Trades based on short term indicators but against "Day" indicators will have high risk involved.
If you understand such risks, keep only small Sl as Prabhakar has done but keep taking profits.
Daily/ weekly have better bullish TA as of now.
europe open may help for the shoot up above channel ..
Elango sir
Pls tell me about maruti?
Yes you are absolutely right in your assessment as even UK & US fut. mkts traded in positive with good gain & there were lot many times happened in past so one has to stay with momentum/trend & try to minimize his/her risk to book the maximum profit around such great level rather then short
Let me put this upmove in a better perspective:
After 2008 fall from 6357 to 2258, Nifty bottomed in mar.09 @ 2539 along with rest of the world markets.
Due to highly "Oversold" conditions as well as the possibility of a good bounce, market ran way ahead of itself by moving upto 4693 & 5182 from the 2539 in a very short duration.(2643 points)
Nifty has done a correction with an upward bias for the past many months (running correction) and bottomed at 4675 or 4786.
Even a 38% of the upmove of the first rise gets reflected in this new upmove, it will amount to a 1004 points rise from either 4675 or 4786. And a 50% move would be 1321 points making a high of either 5679 or 6000.
All these views will be valid as long as Nifty trades above 5140 as of now and this level may be revised up as the time goes.
5385 Spot by 1 pm ?
===
Top 3 futures that rose had negative OI and Price on 18.06. Indicates what?
Security Close-open OI CHANGE Price move %
SESAGOA -7.85 (2039000) 6.12
TISCO -10.55 (1131480) 5.87
HINDALCO -0.15 (2483700) 5.64
All are Metal counters - so this rally is Steeling late?
@Elango sir
By 12.00 spot was 5360
As per your Tech Table posted by 12.00
S2-5213 S1-5238 PIVOT-5270 R1-5295 R2-5237
I am not able to understand the figures posted.
Please guide me, If I am wrong.
@ Sundar - Thanks
@ Yoda - My terminal too providing...but will cross check.. as your's is IB na? that's very right.. sometimes my terminal is wrong..
regards
@ Bhavesh,
When FII started their big buying from 11th June (Fri), Nifty gapped up on 14th June (Mon) @ 5140.
Hence, it's importance.
Hi,
All friends just see how nifty 1 month (24JUN2010) fut react today near to those fibo levels (5320) 5340, 5358 & 5376. next 5391-95.
http://www.nse-india.com/marketinfo/fo/foquote.jsp?key=FUTIDXNIFTY24JUN2010--21JUN2010&symbol=NIFTY&flag=1#
Is this levels useful? Go for lower brokerage rate & the difference between 2 levels is yours.
-----------
Today we gapped up above the green line (5_imp trend line). If nifty sustains above that, it'll be very good for bulls (a very large inverse head & shoulder pattern possible)
@anuj,
I have intraday data [Package Code RT5(Nifty Special: cost 11k per yr)] from,
www.market-data-provider.com
http://www.market-data-provider.com/NSE_Realtime_Intraday_Data.htm
------
Thank & Regards.
Hi Arunima....have you the excel sheet with fibo level formulas ?
Plz help.
regards
Sir & family..
Ga..
is day low ema 5234?
Rg
22nd ..Uk budget..
curbing fiscal defecit ..may be strong steps.
@ anuj
i ws nt able 2 find the file on old desktop
will chck d hard copy circulated 2 yrs back(frnd nw in delhi)..
rest u can serach google for beta pair trading..
Ilango sir...
Can it make a time correction for the divergences shown on hourly charts, as for now nifty is not showing any sort of intention to budge ? And, NF 5 min is just consistently trying to beat the raising trendline res ? Plz clarify and correct me if am wrong.
regards
sir,
i believe below comments is for intra-day as well as for short term..
// 2. It can trade sideways, thereby make more room to move higher to the rising channel.//
@ Manu,
The day Low ema is @ 5234 for the day.
@ Ka,
The -ve div in the slow macd of hour chart has disappeared with the 1.00PM close. What is left now is f. macd and 14-hour rsi. 9-hour rsi is in clear buy mode.
Yes..it is possible to have a time correction. Since such a possibilities exist, it is prudent to hold on to the longs, especially being in the "3rd wave".
"Ram Rajya" Back ? Commodities and Equities on the raise at the same time? Something Fishy?
Manu - is it the party douser? - closer to Sri's warning date 1.
@ ka
I have separate excel sheet (made by my software developer cousin).
I'll seek his permission (after 3:30pm) & upload it here soon for all friends here (may be tonight).
Thanks & Regards.
Yes sir...they are very much on the UP..
thank you for your time and reply..
regards
Thanks Arunima...take care !
Ilango Sir,
I have short in NF @5370. Please suggest me where can I book profitt
Sir...apologies for my repeated questions....but grateful if you can clarify !
slow macd seem to be diving down towards -ve terriotory in 5 min NF and theres a cross of 20 sma over 5 sma ( am not sure if that makes significance in this short timeframe but found that ) and NF showing a bit reluctance to get past the res..
does these factors influence the downmove of NF from now ( for a small downside till 5335 ) ?
regards
My prediction is that nifty will correct to 5270 again. But as all predictions go...:)
@ Prabhakar,
Presently I see 5350NF may give support.
Next target is 5455.
2.618 % of second wave.
Any one can tell.. this is correct or not?
@ Ka,
All we have presently is a channel resistance and -ve div in the Hour chart.
Oscillators moving down need not always result in price fall. In strongly trending market, oscillators will tell you the corrections even though price may not do so. When such oscillators reach the Oversold levels, buy...and the impulse move may continue.
ga sir and friends
as per gap studies , this is the 3rd gap in this upmove.
cud be exhaustion gap too.
Thank you Sir,
I booked my short at 5361.80
Ok, thanks again..
@ Think : in case of a 1.38 times it can move up till 5465, 1.5 times it can move up till 5508 1.62 times nifty can move up till 5552 levels
Huh... please.. enough...feeling tired on climbing.. let us get down :)
PS : Seniors can correct me if the above is wrong
HI Piyush,
WHat is meant by "EXHAUSTION GAP"..
Means,,it should fill?
ilango sir i had buy reliance 50 share at 1085 on friday can i hold . i can hold for a weak only pls advice
think,
if this is exhaustion gap then it'll get filled in next
2 days. the other 2 gaps r not yet filled.exhaustion gaps are
atleast short term tops
Thx piyush for qk reply
Sir
u missed Tisco by 1 rs that day,,
hard luck..more for me bcoz i bought and squrd intra thn hedging
as whch i generally do but now seems serious buying going on..
othr thn short recvry..
fii Data 2 dy wl b intrstng
For the last two weeks NF has been bouncing off its 5-ema line. And settlement is just 3 days away.
Hi Arunima...you 5371 NF fig is strong...!!
Manu - Unitec (remember your 69.40 Long) - exited @ 73.50.Thanks. TISCO holding. Very good recovery/buying in Metals.
Yoda - What is the up/down side probability when such bounce happens? Because, it was reported than post-expiry witnessed deep correction in recent past. Analysis will be interesting.
@ Manu,
I did not miss it. Infact, I advised the reader not to exit longs for the Rs.1 variance but give it one more day.
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NEW POST DONE
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Rg ..
i told u ..
u hv eleph'ant" brain..
i m missing tisco bcoz concentrated on uni..
but i find myself better to concentrate on one..
frm my point of view "nifty" is the topmost beta trade..
stocks are still less..ask sir:)
Thank u Elango sir.
I am exit in tatasteel
@Elango Sir
Please re check tech table
pivot levels posted by 2.00pm
Unitech fired above 72 as posted here:
http://tradingontechnicals.blogspot.com/2010/06/unitech-ltd.html
Thanks
Hi everyone
Today's Market Overview for Nifty Level
http://sharesonlinecharts.blogspot.com/2010/06/watch-todays-market-overview-for-nifty.html
Please Take a Look at my blog
Free Nifty Tips
Blog.
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