Lack of volume is a concern, though not for a 5th wave.
There is an alternative scenario wherein this rise could be a corrective rally for the 5367-5210 decline. As long as the prices are firm above the Close/ low ema, there should not be any problems for bulls. 5250-5265 should hold for more highs.
At 10.00Am, Nifty closed above Hour high ema @ 5250 and indicated its intention to move higher. Inspite of weakness in world mkts at the open, there was a gap up by a few points and a fleeting 5233 low. ORB gave a buy @ 5256NF.
Weekly pivot (5262) & Daily Pivot (5273) should hold for higher levels. 5335-5345 has been a strong sell area, a pause may be there.
13 comments:
Sir,
Is there any change in setting regarding posting comments?
@ Sir
Call options of 5400 were written not agressively. No short covering in call options seen yet ( 5300 & 5400 ce). Moreover, no agressive put writing is seen in 5400, 5300 and 5200 PE.
Also, sir is it confirmed now that it is 5th wave or we have to wait for 5335 levels first.If it is, What is target of this wave?
xxxx
Dear Ilango Sir,
What should be the target of this 5th Wave?
Thanks & Regards
Sanjay Kr Jaiswal
atlast !
Dear Ilango,
It was the "TEST" today by all means........
Dear mynac. Plz give yr observations.
Thanks
Dear bizagra,
Nothing to say much except low volume.And at present at 12.15 AM U.S. market.Given up all intraday gains.Who knows at the end the picture could be changed too.Till then Good Night.
Ilango Sir, Can't you pl. open a link on the right side about "Various brokers and their charges" - this will help us to find which brokerage is the most economical and yet good in services?
- at present, i use KARVY - they charge rs. 225-230 (includes brokerage + all taxes) for 1 lot of Nifty future…..
- Online Software GoTX - EXCELLENT
- Support - EXCELLENT
@Janak,
You may contact Ventura who are charging only @ 0.02% (nearly Rs. 70/0 including all taxes) for one lot of nifty and that too for one side brokerage on intraday basis(Not like IIFL who are charging both sides i.e., both for buy and sell on intraday basis too). If you are a day trader and trading atleast two-three lot of nifty future and/or one-two lot of options (fixed for Rs. 25/- and that too for one side charges) then, they have another plan for 1 paise (0.001%).
In case of any problem, you may also contact me.
Note: FOR ALL MEMBERS IN THIS BLOG::::::: Neither I am Ilango's critic nor Ventura's representative.
@janak
GM Ventura1 is a good brokerage house
as they have good plan to return back
all brokerage paid by us.
kk
@Jay,
The problem with 'brokerage schemes' that I found out with Reliance was that their '1 paisa per trade' came on a scheme that charged 2500 for a certain number of trades. Worked out to the same average as Rs.100+ per trade with any other broker.
Yoda,
now a days all are offering Advance brokerage schemes. For example sharekhan, i paid 60000 advance. 0.02% is the brokerage for me for 1 year. STT is common for any brokerage house
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