Daily trend is intact-UP as long as not closing below 5372.
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 ... -
Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor... -
If the steady FIIs inflow reflects in the prices, 5405 should be protected going ahead and market may encounter minor corrections and keep m...
70 comments:
dear sir, is the 4th taking the form of an Irregular Flat, if so will Nifty give qa sharp move up after its completion
"Pirandha naal...inru pirantha naal
Naam pillaigal polae thollaigal ellam
marandha naal...Happy Birth day to you"
"Neenga nalla irukkanum naadu munnaera"
"Vaarthai inri pogum pothu
mounathalae nanri cholvom"
Many many more happy returns of the day.
J.I : You must also make a post to wish
I.
teejay : Wish happy birthday to Nifty Mini.
God Bless her.
====
Good Morning Sir and Friends.
Satheesh "late aah vandhalum..."
sir...no reply ?!
If Nifty falls without clearing 5400 now to 5370-5360 zone - Buy with a very small SL.
(This considering the daily Uptrend & closer to 5 day ema).
hello ilango sir
two2tango
heartly felicitations for 2 years of guidance to trader community from darkness to brightness.
TAMSO MAA JYOTIRGAMAYA
MRUTORMA AMRUTUMGAMAYA
The way u have lead the trader community from darkness to brightness, may u lead ur life to AMRUT, these are our heartly wishes.
thanks
regards
Happy anniversary.
Its like SWEET LAKE IN DESERT.
GM Illango,
You must be a very proud man today. happy for you. :).
@ All,
What more eduction are you asking for? here the man is
giving you live market education.
Please give him his time and space.
You all want him to now feed the morsels to your
mouth too !
Hai everyone
Reliance industries chart with the ascending triangle. An upside breakout will give big momentum for the stock.
http://niftychartsandpatterns.blogspot.com/2010/07/reliance-industries-ascending-triangle.html
Thank you
Dear Ilango Sir,
Wishing you and all your blogmates a happy anniversary.
Thank you for your wonderful selfless services sir.
Thanks & Regards
Pawan Jangid
Viren,
You are mistaken. It is only that we would like to pay our respects in person!
@ Ka,
I fully understand how you feel.
Presently it is "Distant education".
All in good time. Please.
hahaha, yes sir ! Aap Ki marzi !!
Viren, hmmm....true, well said !! Thanks for that advise.
When spot moves below 5381, the buying opportunity for a day trade may emerge around 5375 or 5365. Keep 5350 as SL.
@San,
Can you please check the chart of Mcdowell? Is there a reverse Head & Shoulder?
sir...
two beautiful fast fall opps in NF 5 mt....since morning
Hi san I think today relaince will move the nifty ........... It has been my observation since the last 5 years ...... thursday is always of reliance either reliance will be up by 2-3 % of flat ........
On very few occassion it has fallen on thursday......
Just my observation .............. Already i am long in reliance today at 1073 with no SL ... As i trade relaince only on thursdays
Ka, Satheesh,
Blogging is a difficult job.
You have to keep trading your account as well as produce
real time updates, if you have readers.
I've run away from blogging, because I simply
cannot manage it. ( I'm just a guest contributor
at Vtrender).
That's why illango's achievements are even more commendable
That's why give him his space on the weekends.
Blogging sucks the energy out of you and Illango
has been doing mornings/ evenings for two years!
WISH U MANY HAPPY RETURNS OF THE DAY TO TRADEINNIFTYONLY
JUST NIFTY IS NOT LIKE THE “RAIN”
THAT COMES AND GOES….
IT’S MORE LIKE THE “AIR”,
SOMETIME SILENT…..
SOMETIME NOISY…..
ANYWERE WE GOES OR DID
BUT IT’S ALWAYS AROUND!!
Dear sir,
i m completly agree with your view 5328 is 13days EMA and in this trend it will act as very strong support.Market may swing b/w 5325-5450 for next 2 days. After consolidating in this range it will go further for New High in next 2 week around 5575-5611.
If i am wrong then pleas correct me Illango sir.
this is my personal view according to my knowledge.
OT...
Sleeper stock...USHAMARTIN. Anybody have opinions ?
Agreed viren....though had this thought but it was going on another wavelength, hence could not connect both and analise.
thanks again...
Sir;Many happy returns of many more years to come.Atleast all we learners can give our GURU is that we also share the light which we have amongst us and other known people as selflessly as a mark of GURUDAKSHINA.
@gd
USHAMARTIN may be active if close above
83.50. OR keep 78 as closing basis sl for long
May have reverses and did not go more than a point below 5380..?
Congratulations Ilango sir and Jay maam for completing 2 years of JUST NIFTY. May u have many many more. God bless u and ur family and all fellow blog freinds.
Happy birth day to the baby "Just Nifty" and wishing best of health and wealth to the father "Ilango". May all the family members(all of us !!)remain blessed !
EOD options data doesn't suggest big weakness as of now , may be sideways time correction
Viren, very true!!!
it is 'all the more reason' for me to pay my respects and show my gratitude! I try to attribute various reasons for not completing my work in time - even though i stay at home! I used to wonder how it is possible for Ilango sir to do all and that too daily - hour by hour!!! He has not only taught means to trade – but most important of all – the power of discipline!!!
thankyou San for RIL chart...
@all
activity in 5100/5200 put call suggests market is going to test 5345 level, today itself...a bunch of brokers given buy call on 5400 put today itself...for covering the same by evening...
"You all want him to now feed the morsels to your
mouth too !"
Viren - then....who will chew?
GM
Dear Ilango and Dear Jay,
Congrats to both of you for your selfless service, on the occasion of completion of successful 2 years of Blogging.You have proved it again that "The pen is mightier than sword"
*We shall wait for
"All in good time. Please."
Thanks
with regards,
mynac
Viren,
For most of us, I agree. Blogging is exhausting.
But somehow, Ilango seems a happier man for it. Some are born teachers, and with this outpouring of regard and affection here for his unique ability, he seems to have found his calling.:)
@FIRE
I will check the charts
@POWERTRADE
Good analysis. If it had been working for 5 years may be i should also have a look at it. thanx for sharing
Sir,
Looks like Tisco and Reliance will join hands in moving Nifty up!!
Nifty in its down move from 5453 of yesterday is making a triangle formation since yesterday's low of 5372.
Such triangles form prior to the end of that particular move- here the down move from 5453.
A move past 5400 will end the triangle.OR A move below 5380 will complete the down move @ 5365 roughly and a strong reversal may follow.
You can spot this triangle in a 5 day yahoo chart.
Ilango Sir,
===========
I booked profit in aggressive sell @5384 initiated at 5413
Thank you Sir for your analysis.
============
Sorry.... I got it Sir,
No need to post ..
Watch out ACC coming back with very strong volumes from OS day and week.
M&M too. Just check.
nifty in tight range of 5395-5380...break may give tgts of 5410 or 5365
If I may add..
A move below 5355 NF in the hourly confirms yesterdays
high vol move.
A move above 5411 NF puts 5438 on the cards and eliminates
yesterday's downmove.
Market is auctioning in a low vol 5384-5408 range,trade
the exit of this range.
Hai everyone
Nifty 30 minutes chart with support and resistance lines.
http://niftychartsandpatterns.blogspot.com/2010/07/nifty-30-minutes-chart-with-support-and.html
Thank you
any idea why so much selling is going on in BPCL counter?
@Bizagra!
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I booked profit in aggressive sell @5384 initiated at 5413
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Janak - remember 2 days back I posted "Govt will dither on oil price decontrol" policy. It has. Now OMCs cannot do it on their own. Govt will fix it every month. Ha ha ha...
Can some body throw some light on TCS and at what time the result is .......
@Prabhakar
I m looking for 5365 for exit.
@ All
A shoot and scoot long trade???
http://2.bp.blogspot.com/_88fjmcdhjs8/TD6g-aTU3KI/AAAAAAAACXA/dw2p4-B0rqo/s1600/NF+Bullish+Hidden+Divergence+15-07-2010+11-09-01+AM.png
Cheers
rajgopal, if u see deeper meaning, it will come to the same thing....:-) prices will keep on rising....this looks like a knee-jerk reaction...i am buying it
Thank you Bizagra! morning I booked at 5386 and sold at 5399. Now no positions
rg sir,
yesterday in acc was a high volume day and down day
today again high volumes up day.
high probablity signal for reversal if it closes in green
around 814-816+ levels
Heartiest Wishes and Congratulations to Dear Ilango Sir and all our fellow blog mates on the completion of 2 successful years of TradeinNiftyOnly. It symbolizes much more than the 2 years of trading enlightenment that most of us had. May this journey only prosper in the times to come.
@FIRE
I checked the MCDOWELL Charts. The stock made a break out on 16th june and is now doing a FLAG consolidation with upside break out possibility. The inverse head and shoulders is not properly formed.
raja, piyush
to me heavy volumes generating today & yesterday is a distribution untill it crosses 828 today
other friends
all cement stocks are looking good this expiry, i mean not for this expiry but this expiry
what i mean to say, all cement stocks are a buy 10 % lower from current market price, at or around july expiry for a target 10 % + from current market price, in 2-3 months period,
namely
acc, grasim, indian cements, ultratech cement & ambuja cements
thanks
regards
top declining triangle tgt 5360 ??
Thank u PS. As my usual (Sir suggested) made a small routine to monitor volume movement. As u said may we will come out "Happy" on Birth day.
rp : I find Cement in swing. Just for the results? Keep in mind the II Qtr sales will be lower for all Cement cos - Monsoon effect. Short in GAC hedged with Long in ACC.
Any views on bank nifty
San,
A request. Can you check the day chart of Tatasteel from 18 may till date? Can it be classified as inverted H & S pattern?
@San.
Thanks a lot.
@Satheesh
I was looking at an inverse head and shoulders in tata steel till 22nd june. But after that the price started falling again making the pattern invalid. I will check the charts again.
Thank you
@Rajagopal
Tata Steel & Arcelor Mittal companies moving in the
same direction. verify inverted H&S pattern formed for
both.
Shall I buy Tata steel at this level.
@everyone
Nifty seems to be testing the support line in 30 minutes chart
Thanks san, the other possiblity is cup with handle
@san
5min nifty RT chart provided on your blog shows intraday 20 point HNS
NEW POST DONE
Sryas - Bit on the edge CMP for TISCO. My take is around 569-72. Can we consider SAIL? It is also raising with 100+% volumes - and Rs 30 below its High. What do u think?
===
VSNL is breaking out with huge volumes for the past 3 days. PS/Techies pls check at leisure.
@Kumar chheda
I would suggest you to take a look at the larger time frame before you take a trade. That way you will reduce the number of trades. Reduce the number of losses as well.
Thank you
NEW POST DONE.
The market witnessed a choppy session today and I expect the market may continue its downside phase in view of results. Nifty spot chart suggest that the market is trading in a sideways trend with 5,400 acting as a crucial supply level and 5,350 as a support zone.
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