The candle formation is not significant as it has appeared in both short term reversal as well as in continuation structures.
@ FIRE, You are right about the triangle in the 4th. Now for the confirmation with a follow up price move on Monday.
Soak in the crucial weekly pivot(5427) as well as resistances(5500-5550)(targets) and supports.
26 comments:
Hi
"All EMA's are above the SMA."
Can this qualify as a bull trap also.. extreme bullishness as the case looks like.. Would like Illango Sir's comments if possible..
Thanks
hello SHAZIA, i'm stuck with 5400 @puts at 84 Rs, is there any chance to exit in next week??
Technical View of Nifty
Historically Nifty has faced selling pressure whenever nishant’s oscillator has moved near 40 level. Important support to watch on Nifty is 5400.
The red line of the channel in the long term Nifty chart (shown at the end of this column) or 5530 level may act as supply zone if Nifty continues marching upwards. For bulls profit protection will be the first priority if Nifty starts trading above 5500. Protecting 70% of total profit is one of the best strategy in traders world. Moderate to hight risk in fresh long term (1 to 3 years) investment.
Technicals of Market
Market Breadth: 0.60
Nifty Trends : Short term trend is up. Intermediate trend is UP.
Nifty Trend Reversal Point : 5350
Nifty Support levels are 5400 , 5355 , 5300 , 5280 , 5250 , 5180 , 5150
Nifty Resistance levels are 5460 , 5530 , 5650.
SOURCE :- http://freecashmarkettips.blogspot.com/
FREE STOCK & NIFTY TIPS DAILY
Thiru Ilango
Truly wish that,nano particles of your
discipline and commitment rub on to us by our visits
to this blog, to make us reach a state light years
ahead, which is in your and only your comfortable
grasp.
Vaathiyaara innum adhigama paesa vecchadhula oru
chinna varuttham.Paravaaillai,Ellaam nanmaikae.
Share your thoughts & observations but not your
blog'sURL, please.
If the reader is interested is, he/she will click
on your profile and in the next click will reach your blog.
Your sincerity & integrity will be noticed in good
times.
Donot use this place for advertising your blog. It may
back fire.
What about all the google ads in this blog..??
@ Rammyril,
All is well. :)
Q swati,
You also , please.
@ilango
nice initiative...
SNP forming a bear crown. Initial tgt 1130
ilango any update on snp?
One may go for buy on dips in nifty future for the targets of 5500, 5550.
Dear Ilango,
As you mentioned in charts that nifty is holding above the crucial support level of 5300, however overall market trend is bullish, so can I assume the resistance level 5500-5536 for Nifty?
Ref: Stock Market Trading Art
Respected ILango Sir,
Some times you have posted FII figures.
In April-2010 when we reach 5400 INR was trading @44.50(app.) V/s. USD.
Now July-2010, we are at 5450 and INR @ 47.
I am not able to understand the said equation.
Ilango Sir,
India VIX has made a hammer today... n normally wen theres a
hammer... then the next candle shud move higher... implying
VIX moving higher... if that happens then the mkts shud fall...
so may be..we have a gap up... n the 5th gets over... I m
mailing the chart across to u on ur Email ID
Ilango Sir,
I got this link where along term chart of BSE is there since 1980...
what wave r we in ... n what cycle??I m confused a lil...
I hope u can throw somw light on it.
http://www.chartsrus.com/chart.php?image=http://www.sharelynx.com/chartstemp/free/chartind1CRU.php?ticker=^BSESN
also a similar chart of china(shanghai composite) which shows that
one wave of a grand supercycle has ended in 2008... n that a correction is on
In fact the chart is almost like froma book...THis is the link
http://www.chartsrus.com/chart.php?image=http://www.sharelynx.com/chartstemp/free/chartind1CRU.php?ticker=^SSEC
Hello Ilango,
I hope you are fine. Have a nice weekend.
To all blog members specially @Yoda and @Janak,
I wish to write something here but before that, I must say to all members of this blog that I am not Ilango's critic..........
Yoda, Janak, Babu......With Ilango's kind permission, I am copy-pasting your messages posted in this blog on July 07. I am sorry, I am not able to visit this blog during trading hours but always try to visit and read all comments at night and week-end. This is the reason I didn't reply to Yoda on 7th July.
- - - - - - - - - - - - - - - -
Yoda said...
@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.
July 7, 2010 7:51 AM
Babu said...
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
- - -- - - - - - - - - - - - - - -
Yoda, Janak and all members including Ilango, Please Please dont think that I am campaigning here on behalf of Ventura, but still I would like to say that VENTURA is having the lowest brokerage rates plan in India at present which is really affordable. (Babu gave an Advance Rs. 60,000 to sharekhan and that too for 2 paise plan!!!!! I closed my account from Sharekhan in March,2009).
Yes, I don't wish to write all the details but if really anybody interested you can mail me. In fact, at present I am paying only @ Rs. 25/- as brokerage charges for nifty future and @Rs. 25/- only for one lot of nifty/any stock options for both buy and sell (not both side like IIFL) on intraday basis. In fact, it costs me around Rs. 13/- for one leg. As Babu said, STT, Service Tax, Other Charges are same for all broking houses as per SEBI's guidelines.
You will not get my mail address or blog URL by clicking my ID.
But if Ilango permits me, i'll post my mail id here. Probably some of my good friends and known faces visiting this blog may know my mail id as well as blog URL.
Thank you everybody for going through my messages !!!!!!!!!!
Information for everyone:
==========================
I am having RK Global as my broker. He charges less than anyone else in the market.
Rs. 999/- unlimited trading per month in cash
Rs. 9/- per lot for FnO
Seems like his lucky number is 9 :-)
Just Google "RK Global" and you will get the URL :-)
Dear Jay,
You are requested to give me test mail from my profile.Thanks.
@yoda,
WHich yearly scheme in ventura has 25Rs per lot in FnO ? I use the 5000Rs/yr scheme, and it is 35Rs/lot. I really like ventura a lot for their service. But their charting service is bad. Also they do not have multi day charts. Only data for today.
jay ,dont u feel at times of chaos ,ventura's service is not good.
I have suffered that many times during such occations. Whenever mkts are tanking big they block their terminal Pointer, and u have no option but to place ur order on phones.
Even on phone they transfer the order to their main office that is mumbai.
That is not professionalism.
So even if the brokage is cheap service is not good.
Dear theprofiletrader,
Then what you find the best as a option for this above said problem?Please let me know.Thanks in advance.
Sachin, rkglobal.net advertises 9 rs. per NIFTY lot (that is 18 rs. for a buy/sell and total of @Rs. 80 including all taxes) - that's good BUT HOW IS THE SERVICE IN CASE OF SOFTWARE BREAKDOWN or any such scenario? pl. give a frank feedback....
@Mynac, Golfdude, theprofiletrader, Janak and .........
To Mynac: I'll send u mail tonight. Anyway, I have a good feeling about your professionalism what I had seen from your postings here in this blog.
To Golfdude, Yes there is a special scheme for Rs. 25/- per lot (fixed and that too for one side only) in options. If interested, ask ventura people. In case any problem, plz send me a test mail.
Charting service is not too bad!!!!
To profiletrader,For the last one year and three months, till today, I have not faced such problems with Ventura.
"Whenever mkts are tanking big they block their terminal Pointer, and u have no option but to place ur order on phones.
Even on phone they transfer the order to their main office that is mumbai.
That is not professionalism." - No service provider blocked their terminal until or unless you don't have any required marginal money in your account. Moreover, if such problems arises,the RM (relationship manager) will trade on behalf of your verbal instruction. They won't send the order to their HO (Mumbai). I am sure about this. May be possible when their server down or some uplinking problem but I never heard about transferring someone's order to HO only.
To Sachin, I have gone through RKG also but the fact is their headoffice is at Kolkata and they have no operational (only two field boy are there to collect papers) branches in Delhi, the Capital of India!!!!
Even they have not responded my query about their software (probably ODIN), no DEMO etc.
To all, Sharekhan's TradeTiger(TT) is good; same as Ventura's POINTER. But their brokerage charges are too high!!!!!!!!!!!!!!!!!!
I am not sure but IndiaBull and Reliance Money's reputation with clients are not good (as stated by some of my good friends). Probably Ilango is having his own account with India Bull, he might say the truth!!!!!
Even I wish to say here on this occassion that some blog members in this blog like Musti and others (not willing to disclose all those) have already shifted to Ventura from other broking house and all they are happy with Ventura's POINTER.
Anyway, I am sorry if I disturb anyone with my posting.
I am sorry, the same posting published above twice.......
hello friends i trade with icici direct and religare race.. i am planing to terminate my account with Raligare coz of their very poor customer service and rotten terminal. Rk global charges 500 for web maintenance per month..this is irritating.. i am bit confused ,moreover my experience in share market is limited..
i hope some of my friends here can guide me in choosing best broker..i primarily trade in FNO . if any of u have better idea pls mail me at a4amit2@ yahoo . com
Gm All
Hey Jay bro how r U? Its a long time we chat.
Besicde I am using Ventura nearly from 6 months.
I not find any thing problemetic with it.
Also back office & offline trading is equally good.
Presently I am trading with Angle & Ventura But I recomend Ventura
for its less brorege & good services.
Intraday tips free
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