We should monitor the minor wave movements and combine them with world cues and plan our exit & new entry strategies. All the emas have gone above the smas and prices closed above momentum indicating High ema giving good bullishness.
However, our earlier plan called for a 5th of the 5th around 5485-5500+. A firm week will give way to firm settlement as well as a firm month, provided 5400 is protected here on. 5 days to settlement & 6 days to month - a lot can happen. Staying with the market using the 5 day ema/sma has helped us safely through, though an exit & a re-entry was done.
It pays you well to do your home work..and redo them..and rework on them. Whenever you feel, you have covered all angles, market may surprise you.
22 comments:
Hurray...... Nifty made a new 30 months high.
It was a cheerful day for the Indian market which, pushed by strong European cues, and gave a new 30-month high closing for the Nifty, since February 2008.
Views On Market tomorrow (23rd, July'10) :
The market broke out of the consolidation range today. Support for Nifty is around 5,300 levels. On the upside market can be expected to touch 5,500.
Nifty Levels For 23rd, July'10
PATNI COMPUTER
Technical View
Today it opened at the level of 519.30 made high at the level of 528 .70 low at the level of 518.65 and closed at the level of 522.60 it has strong resistance at the level of 544 if it crosses this level then only we can expect some positive movement along with it has support at the level of 500
All Stock future Tips and Nifty future Tips you can get from my blog. You can also check it Stock Options tips
Yesterday, on the Daily Charts, NIFTY made a Long White Candlestick, after making two Doji Candlesticks since last two days, which gives a positive signal for the markets. NIFTY had a strong opening and also made a high of 5409.10 for the day. A good trading momentum was witnessed throughout the trading session, with Metal Sector leading the gains. European Markets also helped the Indian Markets to sustain above the levels of 5368 (day’s low) in the second half of the trading session. Finally, for the day, it closed at 5399.35.
SOURCE :- http://freecashmarkettips.blogspot.com/
FREE STOCK & NIFTY TIPS DAILY/
Nifty is looking strong & one may expects the uptrend to continue in the market. The market is up as long as 5350 holds but limited to 5493-5511. Technically the analysis is still same and buying in Nifty Future is recommended at every dip until it close below 5400 with logical targets 5493-5511
Regards-
Nifty Trading Tips
Ilangoji,
"It pays you well to do your home work..and redo them..and rework on them. Whenever you feel, you have covered all angles, market may surprise you."
I really got surprised today, not by the upmove, but by the sheer intensity of it.It made mincemeat of my yesterday's analysis. Now I must redo and rework my homework, without regret. one advantage I have got, is that I am but a novice. So I expect to be slapped by the market anytime. That is the tuition fee and I totally expect it. Just need your guidance. With that, I hope the frequency of slaps will decrease with time. (:D) Thanks once again for your invaluable lessons, Master.
BTW, previous 4 posts in this thread are from shameless advertisers. (Sorry for being rude, but it's really irritating now). Can't you block those IDs in any way?
Ilangoji,
One more thing. I just remembered that an Extended wave must be at least 161.8% of the smallest wave. The smallest wave here is 1, which is 110 points. 161.8% of 110 equals to 178 points, which added to the bottom of 4th, i.e. 5354 gets a target of 5532. This nicely coincides with the upper boundary of the broader channel seen in the weekly chart. Is this right?
I had read this article on India VIX
last year.
Today there was mention of India VIX by Ilango Sir, hence pasting the link
(may be of use to novice like myself).
http://www.labnol.org/india/knowledge/thinking-of-the-best-time-to-buy-shares-study-india-volatility-index/5004/
@Neha,
Please help me to locate the India VIX on ChartNexus.
I can get CBOE S&P 500 Volatility under ChartNexus->WorldIndex,
but not India VIX.
I wrote to ChartNexus team, but have not yet got any response.
Any help would be highly appreciated.
Regards,
Pragati
Range for 23rd july..
5420-5460..
@Fire,
Welcome to my hell world. Got killed this month - any direction I took seemed to be wrong. Today probability caught up and gave me a win. Being a novice myself, I agree I learnt a huge lesson - which is, that you are going to lose money how much ever you think you know.
I completely agree on the "shameless advs" comment. I didnt want to say anything as I myself post my blog link if I have anything relevant to say. But I do it maybe once a week. But this regular ad postings are getting to me also.
Pragati,
Well if u r downloading data for NSE ... only then u wil have India VIX...
n if u have the data then go to...NSE charts...then go for indices (not stocks)
n see... u will get a list starting with bank nifty n ending with the nifty... al others in between,
Including the India VIX.
Hope the above helped.
Regards,
Neha
Neha,
Thanks for the quick response.
Yes, i could locate India Vix in indices section.
I do refresh EOD data for NSE daily, but somehow the
Indices data is one week old.
Any other extra step to refresh indices data,please?
Sorry to bother you again.
Regards,
Pragati
@shalini/pragati
hey can we chat on gmail during market hours? My id is itsmeparesh@gmail.com
Neha,
Thank You.
I re-installed ChartNexus and my indices update problem is solved.
Regards,
Pragati
Paressh bhai
market me pissa kamne aaye ho yaa ladkiyo log ko pattane
SHORT NIFTY BELOW 5428 STOPLOSS.5465 TARGET- 5407 -5389 -5370
SOURCE :- http://freecashmarkettips.blogspot.com/
FREE STOCK & NIFTY TIPS DAILY
fire, nice views - I am also a novice and learning by the best possible way - "loosing money" :-) but wish to stick to it. btw, today - a huge gap up is on the cards and market will open above 5500 - from there, where it goes is anybody's guess....request to ilango sir to block all those advertisers....it is annoying and they are taking disadvantage of your goodwill.
@Janak and Fire,
I don't think adverts can be blocked on blogger. Best to ignore.
@paresh,
You need to get onto a chat site like orkut.;)
@ Ilango
Good Morning.
1. Let me attempt my following of EW counts. We had completed 1-2-3-4-5 and correction A - and till yesterday opening were in complex pattern of 'B' , and anticipating 'C' to commence.
2. Sometime yesterday we observed a fast-rise-set-up emerging on lower part of channel(hourly chart) which let us pondering whether we actually were in 'B' or we were still in '5'. A possible recount of waves becomes inevitable now.
Request : Can you please indicate the different probable scenarios with their own different wave counts which can now emerge. One, nifty retracing from gap up open around 5500; Two,instead Nifty chooses to conquer 5600; Three, maybe you observe some other possibility on charts, etc.
These alternative counts reckon both the bull and the bear views which will help us to incorporate in our daily plan.
Thank You
My personal bias is that Nifty will open gap up around 5480 (Amit's chart) and hang around all day here and then slide from here on. It can possibly deceive to touch 5600 in flash-one-day-trade and no more.
For today, we need a plan to confront possibilities
a) remains gap up and hangs there all day, then what do we do for tomorrow ( Media hyped Euro Bank Stress and RBI policy notwithstanding)
b) gap is filled during the day
c) keeps moving up
Bloggers may comment and as always Ilango to guide. Thank You
Hello Ilango,
GOOD MORNING.
@Fire & Janak,
Though I fully agree with both of you as regards to ADVT. but as YODA said, perhaps its not possible to block those users (i mean, any particular id);
@to all - I am not Ilango's critic.
Dont forget OI at 5500. 1.3cr in CE and 15L in PE. People talking 5600 - writers will get killed if they move it there. I feel 5480 close.
Bhushan said...
Paressh bhai
market me pissa kamne aaye ho yaa ladkiyo log ko pattane
Aaye thei Hari bhajan ko, autan lage kapaas! [I came to this world to sing His bhajans but got engrossed in collecting materialistic things for myself instead]
ROFLMAooooooooooooooo
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