In the very short term, two scenarios at work:
Bearish: Pull back completed at 5098 and the next downtrend started which might pause @ 4895-4935, retrace upto 5000-5020 and commence the downmove again.
Bullish:Nifty may consolidate in 4950 to 5050/5070 for two days and then move higher towards 5160-5200.
Any fall beyond 61.8% retracement @ 4896 will weaken the possibility of bullishness.
My availability will be limited as my assistant has taken ill and the work load just got trebled..!!
34 comments:
5000 +/- 10 is today's target as per my analysis.
Good one Daxesh...Good Morning all...
Good Morning all.
good morning sir and all
Good morning all!
Very Good Morning Sir.
May be our friend Sri may tell us about the planetary positions and probable effect on general health levels. Looks like lot of hospital time.Ilango's assistant today...
Dear Kumar,Sathish,Babu and Friends - my BIL got the bypass done yesterday and diagonised stable. Than k you all for your advise and well wishes.
Hai everyone
Nifty weekly chart analysis. candlestick chart and line chart both giving warning bells for the bulls.
http://niftychartsandpatterns.blogspot.com/2010/06/nifty-weekly-chart-analysis.html
thank you
@RG
Nice to hear that
Hi Sir,
You have mentioned about faster retracement, but dont you think there is still some time left for doing faster retracement of the last rising leg (from 4675 to 5400)?
Looking forward to your reply.
Thanks,
Vineet.
Good Morning ALL
“Psyche yourself to do your best - all the time! Success will eventually smile at you." - Ram N
@RG
My prayers.
Good to hear this RG BHai
bhai i went short on few scrips as stbt....but now seems ....need to wait
vikram
Nifty future will bounce for 4985-5000 first touching 4920 or will go from here on to mark '4' th in 5 minutes chart.
Dear RG!
Nice to hear about ur BIL, God bless him & wishing a very speedy recovery to him. After a week u can give him Diacard Gold drops, so it will give strength to his heart.
Rgrds,
KUMAR
Dear Ilango sir!
Wishing speedy recovery to ur Assistant, don't hesitate if any help needed regarding his health related issue.
Rgrds,
KUMAR
ukR: Thanks. The Hindu?
===
TISCO : Y'day addition of OI coupled with price going down and fuelled by news of price cut (SAIL already did) weighing the counter down. But it has good support at 457-465 levels where buying emerges strongly. Today down side VIX target is 463 but both Day and Week in OS may pull it up anytime.(Futures).
===
Vikram - looks like a tug of war day? Test for patience. Sir is also of the same opinion in early edition. Just take profits off whenever available and wait for a good trend indication.
@ Vineet,
It took 39 days from 4675 to 5400 journey.
Today marks the 39th day of this fall from 5400 to 4786. Faster retracement has not taken place suggesting "after this correction is over, another upmove is likely".
This faster retracement is not a rule but a guideline.
@RG
Yes Hindu N.Ram - Speech at Muscat-Oman.
Sir & Family
Gm..
@ RG
finally d lawyer surrendered to ur accounts:)
best wished esp. my faternity..
and i m very confused about TISCO..
its more beta than unitech or suzlon..
wasnt tracking it earlier but it is difficult scrip..
yesterday high was 507and low 478..
seeking sir guidance in it//
GM Ilango sir, any SL for our short trade @ 5040??
Thanks
Thank u Manu. It was the Doctors - they allowed the lawyer to argue, the accountant to reason and when the time came, just bundled the lawyer to the theatre and accountant to the waiting room. Sweet talking tough cookies thes Docs...God Bless them.
===
TISCO - I remember Sir keeping it as "Barometer" stock to gauge market movement. If Betas react with market, these Papas enact the market.
sir i can not understand your comment to vineet. pl explain . thanks
Good morning sir & everyone.
Sir nifty has already retraced to 5000 odd levels...so as per ur bearish views another downmove could commence here...what should be d SL for this view?
Dear Mr. Elango
Please guide me about TATA STEEL shall I buy at this level or short. below 480 really weak for this stock ?
Kindly reply me.
""""TISCO - I remember Sir keeping it as "Barometer" stock to gauge market movement"""""
is it ...then ths will be my new beta to wrk..
2 years in unitch..next 2 yrs in it..
sir plz confirm the statement
@liango sir,
By tech table, 5015/5040 is the short opportunity. So we wait until then ?
Thanks
gd
@ bizagra,
The correct SL is 5070 - yesterday's high. An aggressive SL would be 5025. - spot levels.
Yes..Manu,
Tisco could be an ideal barometer to judge the market. Being a commodity based stock as well as being part of Big Funds, it will represent well.
Thanks sir....that answered my question 2 :)
sir,
as of now it appears nifty id following bearish take
am i right in interpertation?
GM Illango Sir,& all blogmates
@ golfdude,
5015-5040 is an ideal level to sell. However, Nifty just touched the "Pivot of the day -5001" and falling. That is another selling point.
Dear Mr. Elango
Please guide me about TATA STEEL shall I buy at this level or short. below 480 really weak for this stock ?
Kindly reply me.
Don't worry about the blog, Ilango, I'm sure they can manage a few days without you, since they've learnt so much. They'll help each other through this.:)
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