For the day the R1, R2 are @ 5246 & 5269, a likely profit taking area considering the "OB short term". A move below 5220(VAH) would be the first sign of weakness towards 5194 (POC).
Alternatively, Nifty could steadily move higher towards 5300 with an initial choppiness in the region of 5225 to 5260.
Based on these, make your trading plan and execute your trades.
29 comments:
Good Morning all.
@ilango sir,
My observation has been in the shorter time frame charts ( hour, 30, 15, 5 ) that with RSI, showing -ve div but with values above 50 can actually go against you. I have seen that unless there is a clear confirm below 50 ( or 40 ), it is not wise to short. Ofcourse you could have missed the high but it is safer. Similarly going the other direction also. Again I am not sure if MACD/Stoch divs are more safe.
Ur thoughts ?
Thanks
-- gd
Good morning Ilango sir and everyone
Nifty broke out above 5200 yesterday and Dow jones broke out above 10400. I am posting both the charts here.
DOW JONES ANALYSIS:
http://niftychartsandpatterns.blogspot.com/2010/06/dow-jones-end-of-day-analysis_16.html
NIFTY ANALYSIS:
http://niftychartsandpatterns.blogspot.com/2010/06/nifty-has-multiple-possibilities.html
Thank you
Hi, everybody. the bears(including yours truly) is waiting for 5150 to get out of the shorts and tu bull.The market wont let it happen.Bad days ahead for me.
i meant turn bull.
some bears are expecting miracle if they expect the tax code will pull the market down.
2 cents...experts correct...
Currently the channel looks like a rising wedge to 5340 or so, but if we break the upper line and close above that, then this could become a parallel channel. But it still feels like we cannot keep going vertically ( why not ). So a correction might be due to the bottom of the channel to 5150-90 and then go up again to 5350. Today'a action will be interesting.
-- gd
how do oil and gas compaies look o the charts?
Good morning Ilango Sir and all
Hello Friends,
Nifty has shown 5 days of continuos gains... from march09, only twice has nifty rallied for more than 5 days.
5253/5268 are the resistance points.
see the chart:
http://tradingontechnicals.blogspot.com/2010/06/nifty-levels-16-june-2010.html
Good Morning Sir and Friends.
Good Morning iLLANGO Sir and Blogmates
RG sir what you say bout DLF and ACC i went long yesterday near EOD.....looking weak now...or can wait?
regards
vikram
Good Morning Sir & Friends..
dear ilango i bought 5200 put at 66 rs,
now it is trading around 42 rs, could i
exit tomorrow or hold, pls suggest me, i bought 7 lots.
For all those who are perennially at the fear of "DOW Jones", today should be a lesson to follow just our markets and its internals. TA takes into a/c everything. Those who booked on their longs based on the "OB" & -ve div has not missed much inspite of a huge upmove in the US.
ORB sell may trigger if 5234 broken. (Not a big range 5234 to 5255). And if moves past the day's high, next target is 5270-5295.
BN is struggling @ 9600-9620. This will give you the clue.
Vikram - ACC hit by news (Low advance tax remittance). DLF is up .8% as of now,can move up. Can we expect the general trend to pull ACC along.
Where does it turn temporarily. There are two points
1>around 5250~5270. Trade above 5250 defines a trade above May high. A weekly turnup above 5077 (overshot by 15 points) caused nifty to pull back. A pullback after the monthly turnup is possible. Note 5255 was reached at open
2>Around 5300~5325. Jan'10 high is 5311. Drawing a trend-line connecting the ~6300 to 5400(april 07) leads to around 5320.
Now lets c
Ilango Sir,
I am going out to attend personal work. I have short position in Nifty future at 5235. Please give me Stop loss and target.
Thank you
Good morning sir & friends !!
@ Prabhakar,
SL 5255; Target: 5205 or 5190.
You should not put me in a spot with such statements. It amounts to giving a direct call.
Good Morning Elango Sir and All blogmates
Have a nice profitable trading..
rm/mok - OJN - not present?
@RG
always there, just look around charts & tables. :)
GM Ilango sir and all blogmates
Sorry Sir. It is unavoidable and unexpected.
Thank you
NEW POST DONE.
i agree with I LANGO SIR
its high time now that we are now a days asking SIR about our individual positions which he generally answers but not liable to do so
PLEASE TAKE CARE FRIENDS
dont impose too much pressures on him
while DII seller
so who will win ?
FII
so trend is up till you see FII sell fig. at the end of day
Post a Comment