"Boldness has genius". Put forth your plan with high integrity and application and at times it might seem highly improbable."Listen to your intuition" and "the market action".
Friday, June 18, 2010
Nifty PreMarket View.
I have been doing this "Home work" and putting it across to "You" as Premarket view. To make it more effective, I would need your participation by way of "developing a trading plan" based on this as well as the EOD analysis besides your own observations.
"Boldness has genius". Put forth your plan with high integrity and application and at times it might seem highly improbable."Listen to your intuition" and "the market action".
"Boldness has genius". Put forth your plan with high integrity and application and at times it might seem highly improbable."Listen to your intuition" and "the market action".
Elliot's Impulse waves.(Part-5)
IMPULSE WAVES :- The Basics Waves that move the market in the direction of its main trend either up or down are called Impulse waves. 1....
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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 ...
44 comments:
dear sir,ur passion,&precision r of a SURGEON.thaks a lot for helping the lesser mortals.
Dear Sir,
For creating certain long term positions, I need your guess - what will be the nifty in worst case scenario- atlest 6 to 12 months from now?
Regards.
D. S. Jain
It is going to be a very straining day, at least for day traders. Please stay cautious above 5300. I won't give the range as some people here got irritated yesterday. Anyway i expect close 5220+/-20 today.
Anyone can tell me bout DLF short term target ?
hi to all,
Just to remind all, Yesterday nifty volumes..
Cash - 14347 cr.
f&o - 39473 cr.
Usually on normal days f&o volumes are anyways near to 60-70,000 cr. and on big volatile days it exceed 1 lakh crores...
@RG
Can you plz focus on your list on volumes basis...
Good morning ilango sir and friends
The daily chart with MACD indicator. See how the last four signals have given good trades. So if some one has a method to avoid whipsaws this indicator especially when it is used in daily time frame could give some great trades.
http://niftychartsandpatterns.blogspot.com/2010/06/macd-crossover-trade.html
Thank you
Good Morning all!
Dear Anil,
Are you considering just Nifty index and fut. volume?Because total turnover was Rs.120490.64 Cr. Please refer Dear Sanjay's http://marketpulse-snp.blogspot.com/p/fii-dii-stat.html if needed.
Thanks.
good morning friends! can any of u update me about value area or poc of tata motors
goodmorning sir, friends :)
My 2 cents...
1. Put/call ratio rising and at 1.6. At 1.8 it usually peaks. Bullish.
2. Yesterday broke through rising wedge upper trend line. Bullish.
3. RSI at 63. Small -ve div in daily. But above 60 is very Bullish.
4. Inverse H&S target is 5380. Keeping in channel and going for that.
5. Euro is up to 1.24. USD down. Bullish.
6. DAX making HHs. Very strong. Bullish.
7. S&P above 1105 resistance and holding. 1150-80 target. So another 5% left. Bullish.
8. Yesterday July rollovers happenned. Assuming short covering done, this should be longs ( ? ). Bullish
9. FIIs have only bought whole of June index/stock futures. Now cumulative at 4000 Cr +. Bullish.
10. Lower volumes concern. Bearish.
I feel 5350-80 is coming. Maybe a pullback on option expiry week.
-- gd
@mynac
just nifty index, sorry i miss to mention..
sorry to blogmates...
Good morning Ilango Sir and all
Gm to all,
nifty OB & showing -ve div in daily chart.
http://tradingontechnicals.blogspot.com/2010/06/nifty-update.html
GM all
@all
RIL AGM today..
Reports point to a few big-bang announcements by Mukesh Ambani. A word of caution here. Reliance and ADAG group shares have rallied in recent past. It won’t be a bad idea to adopt the ‘sell on news’ strategy and lock in some gains in these counters.
Meanwhile, the euro rallied following a well-received auction of Spanish debt and amid reports that European bank stress tests will be published in July, curbing fears about eurozone fiscal problems.
Sir,
opening value?
Is shorting inifty at present levels advisable
Hai everyone
Channels are the simplest and the safest patterns to trade when it forms in daily chart. The stock or index gives a low risk high reward entry when it comes near the bottom or top of the channel. Here is an example
http://niftychartsandpatterns.blogspot.com/2010/06/tatamotors-channel-trade.html
Thank you
@San,
2 cents...
Be careful while trading MACD crossover. If you look carefully at the dates, you did not catch the highs/lows. 22/01, 17/02, 13/04, 1/6. You still would have got good points, provided ur SLs were huge. MACD is a lagging indicator and can lead to whipsaws. I have done study fo MACD from 2007-2010, and I feel RSI divs would have given you 2-3 times more points than MACD.
-- gd
@ San
Can u please post TISCO chrt also can we hold longs for TGT of 500++ in this series
Good Morning Sir and Friends.
Anil - Volume is part of the indicator with Price. Request you to elaborate at leisure if any fine tuning to be done.
Wish market rejects bhai's plans today - Short @ 1085.SL ? What's that?
Sorry. No guts. RIL will remain Long. No short.
@ DSP,
My approach has been always "to follow the markets". While doing so, if certain levels are holding, higher targets are projected. Holding level as well as the target areas are adjusted as the market unfolds.
Presently a target in excess of 5400 is expected provided Nifty holds above 5070.
Opening value: 5279.40; Low : 5279.40
It appears "No one seem to be interested in making Trading plans".
Ilango sir, i shorted with SL 5345.
I have started to short from 5290 NF levels according to your day end analysis and wish to short more till 5325 with a SL above 5345. Now you are giving a target of 5400. So, do I take shorts as planned or should I buy in dips? I would appreciate your reply if you get the time.
If sl not hit today, will look for closing below day high ema for carrying
my shorts.
hi...llango sir..can i go long here @5285 nf...??
Sir,
No, i did sir, Yesteray BN@9495 went long exited BN@9629, and today part entry i made BNF@9540, will accumulate.. Sl is BN@9440
@ Fire,
"5400+" target is on a larger time frame.
"Trading plan" is for the day or few days.
Positional longs may remain with profit booking at certain levels.
bizagra
fr a trgt of ??
GM Elango Sir and All friends.
Have a nice profitable trading today..
@manu
will be looking for closing targets at closing, first it sud
react in direction expected.
Hi sir,
"Presently a target in excess of 5400
is expected provided Nifty holds above 5070."
What is the significant of 5070....?
Ilango,
I would short the market at these levels of 5290-5305 nf with a sl of 5320 nf for a target of 5192
Gm Illango sir,
I short Nf with sl of 5342 Hope this time may I get Few
with U.
@ilango sir,
I make a trading plan everyday. And end up not following it :). But for today, after seeing the market so strong, FIIs buying yesterday another 1000 Cr, and with options prices much lower now, I feel they will work 5300 much faster for higher levels. So my trading plan is to go long ( which i have already ) for targets 5380 ( high of inverse H&S ).
-- gd
Too much expectation built into RIL'S AGM.Sell on news would be ideal with negative div all over and also market OB. Optimism running high and tops are made on good news.Short term top should be in. Also today is the 8th day of rise which is a Fib number so possible topping here in the short term.Booking and short would be the order of the day to re enter at lower levels.This would be my trading idea for toaday.
Elango Sir
Before this expiry, Will Nifty spot reach 5478 levels.
NEW POST DONE.
"When you commit with your trading plans whenever things are clear, your grip on the markets improves. And when the plan fails for any reasons, you will investigate to learn the "pointers" that were not given its due importance.
Sir,
Please give your view on plans.. so that any one wants to correct will get a chance
Good morning sir & friends !!
Nifty has had a sharp run since last 8 days, therefore I would be trading light (specially on the long side) till this expiry is over. Will enter shorts if NF gives 5300+ with a SL of 5330 eod as I feel we can see some profit booking coming before the expiry.
Will make fresh positions on thursday evening.
Illango sir and others blogmates. I am new to trading. I am trying my level best to educate myself during off market hours and at night, but I have seen the guidance provided by Illango sir and and support provided by other blogmates is tremendous and ecouraging. It all seems like big family each on helping each other. I would like to apologise in advance if I ask basic questions please do not feel bugged but please do help me out. Thank you everybody
profit booking expeted in second half
shorted NF@5290 SL@5320 target 5260 , 5240
markets might test reverse HNS neckline @ 5140-5160 which will be levels to go long again for target of 5450 in july
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