Further upmove depends on holding above them.
Another instance of our technicals' supremacy over world markets.
ORB would have given a buy @ 5383.
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...
38 comments:
gd - Tata coffee great results due tomorrow.
HDFC Bank today.
ABB down and Rcom up with 70% of 5day avg vol in first hour.
July 19, 2010 10:10 AM
RG, any recommendations for intraday buy/sell for stock futures? how does TATA MOTOR look for a ID buy?
Hi Everybody!
Nifty gave bigger shock to them atleast in 1st one hour who were loudly declaring a big fall after watching Dow in friday's evng. I dont understand that what kind of analysis they are using, no stop loss, dates theory & by watching other countries index movement they declare a big fall or big jump. Its like that "Rain will come sure...Rain will come sure & one day when Rain comes then DEKHA AA GAYI NA RAIN." I request them to think sincerely again for their analysis that nor they & not anybody body else will be benefitted by these kind of things in long term. Please dont be offended by this, they must take it positively & as a mirror to showing them. Technical analysis is based on probability & one's temperamant is most important to handle this.
Rgrds,
KUMAR
5396 is days high ema as per tech charts.will nifty face res at these levels again??
Kumar, well-said.
Ilango Sir has rightly mentioned - "Another instance of our technicals' supremacy over world markets."
Ilango Sir, can a small quantity of NF bought here at around 5387 for intraday trading? I am tempted looking at the TOTAL BUY QUANTITY :-)
hello friends
Please visit my new post
http://stock2gains.blogspot.com/2010/07/chamatkar-ko-namaskar.html
Also , i have bring down some changes to my blog, kindly visit, review & encourage. Suggestions are welcome.
thanks
regards
P.S. - our targets in tulip, ifci , DCB & PFC completed. Rel cap & Rajesh exports close to our targets. I hope people taking note of my calls. Also, cement stocks declining as expected by me 4 days ago. I have also declared cement stocks as a buy this expiry 10 % down from thursday levels to sell next expiry 10 % up from current levels, i hope people remember.
Rochak, any recommendations for intraday buy/sell for stock futures? how does TATA MOTOR look for a ID buy?
Freinds buy reliance capital and tisco
@Rochak,
But for your call, I have been able to buy IFCI@ 60-61 levels. Now, Dont you think, the breakout is much bigger in case of it? Especially when you look at the weekly chart? It looks like it has broken out of a Year-long consolidation.
Puli cominggggggggggg :D
Ilango sir i m sitting with no position, confused.Today
planned for buying near yr sl of 5295 due to gap down but....
Now waiting for new conservative trade.Plz guide.
Thanks
FIRE, i agree with you, but its risky for us.
But then even if it overshoots, our agressive traders only are carrying it. b coz, our conservative traders play only for initial 4 % & book out major quantity of it at that stage. we bought it at 56, & happy to cover 10 % rise of it. 10 % rise is enough for our conservative trader to book out full quantity.
But i agree with you, its a B/O, keep a SL of 55 now, if u r going in for higher targets. This is a resistance area, where u bought. i dont know on whose reco did u buy. b coz, i did not reco to buy @ 60-61 band.
Also, if u r following my calls, please request u to go through these links
1.-http://stock2gains.blogspot.com/2010/06/what-is-your-trader-type.html
2.-http://stock2gains.blogspot.com/2010/06/why-to-put-stop-loss.html
3.-http://stock2gains.blogspot.com/2010/06/trade-summary-functioning-of-volume.html
P.S.- Todays volume is very very encouraging in ifci, but i dislike recommending something for intraday. Today's H, L & ATP would be important for further movements.
@ Bizagra,
Keep few trading strategies handy to put to action at different situations.
Dow dn 270 but Asia rebounded off their lows - If Nifty is in uptrend as per 5-ema (But sell on rise as per high ema & buy on dips as per Low ema - it has been trading between them), look for buy near low ema. When you don't get the low ema, use ORB to initiate a long.
Tug of war in the lower half of "5453 to 5357" with "5395" acting as a Pivot.
@janak
sorry boss, i dont like recommending something for intraday. b coz, my views are intraday trades are the scapegoat for the big pocketed traders out there.
i hope, u make note of the advises given on my blog on friday on the advices solicited by you on gtoffshore & sintex industries.
ALso , one more thing janak. Please do not go through too much advises on a particular stock u wanna buy or sell. B coz it may confuse u , as different persons having different opinions, timeframes, strategies & holding capacities.
For details on this, u may please go through the following link
1.-http://stock2gains.blogspot.com/2010/06/what-is-your-trader-type.html
P.S.-i would not be comfortable in taking long positions in tata motors, as its already 12 % up from its last weeks low, but its looking excellent on monthly charts for taking a long positions close to 795 lvls with a SL of 785 for tgts at least a 860.
Day Low EMA is 5374 and Low of Nifty is 5361.50 for just a second and now nifty is above Day High EMA 5401.
Dear Ilango Sir as per PMW in Bank Nifty should I short at this level .
Regards
@Rochak,
Thanks. I buy stocks out of my own observations. I think it broke out of a triangle and confirmation came when it gave a weekly close above 60 with rather strong volume. I am holding it for a short term tgt of 70-71 and long term tgt of 95 levels. But your calls are excellent and I try to follow your calls. If it matches my observations, I jump. :)
Dear Ilango Sir, already scalped 20 points in NF :-)
gm sir
sir i bought nifty at 5377nf today
shall i cover/ keep stop loss ??
pls give me lelel
thank u
Rochak, thnx for ur kind words. Already scalped a little from Tata Motors :-) I respect ur stand of not advising for intraday trading - but i am a small timeID trader only - for me a daily fill of Rs. 4-5,000 is enough :-)
@fire
thanks for ur kind words. i feel happy, that u do have ur own valid reasonings for initiating any trades.
One more requests for all of JN friends over here
Before following any body's calls, please make clear in ur minds, that what is the analysing pattern of the person, whose call, one is following & whether his trading style suits ur temperament or not. Or wait till u match ur temeperament with one's trading style before u start following it..
I think it was completing the cycle of friday by hitting the highs. Trading between the high and low either in ema, val/vah or just price might be a good idea as Ilango suggests instead of jumping in with a long at the top.
@ akki,
BN has been showing strength all through and have not closed below the "Day High ema" - a minimum requirement for initiating a small sell first.
The targets calculated is around 10175-10250.
A possible negative divergence may develop at that time. Will update on it based on price action.
@ sea,
When you see some good profits, book out if you are an intraday player.
5380-5385 should hold for more highs.
rg sir,
abb is in a tight range 840-880 approx lince many weeks . after a gapdown
it has come back in the range with high volumes traded.
looks like some rumor manipulation or somethimg for now it is back in range
thank u sir
Dear Ilango Sir, I wish to express my gratitude to you as I've been visiting this blog since few days and there is lot of positive energy here. I am also grateful to the fellow members who do not hesitate to advise on a particular buy/sell.....happy trading to all. Wish to keep visiting this blog everyday.
Thanks PS. Just monitoring hourly vol+price.
SIEMENS
ABB
BHEL
HINDALCO
Have >30% vol between 10&11 compared to 9&10. It helps to spot the trend and vol for intra.
Come on my dear Bears,
Nifty PE at the higest
Small caps giving wonderfull return
Every negative news discounted
Reatiler mood is upbeat
TV analyst predicting new hieghts
dont want to even correction
madness all over
defying fundamentals
...
...
Perfect time for a massive attack
r com is breakout frm trianglg, if 180-184 sustained it is bullish
sorry so many typos
Ilangoji,
Can you tell us a bit about the current wavecounts and the EW possibilties? If 5 waves are already complete in the daily timeframe, should not we then expect a correction of the whole upmove from the bottom of 4786? just trying to understand and learn EW from you.
A Shooting Star developing in the hourly charts?
@ Fire,
We still keep the "5 waves count". In the 5th wave, it is possible for another high to c omplete the 5th of 5th.
If the correction is underway for this entire "4786-5453", Nifty could still make another high in its "b" wave.
Use these for directional moves of various time frames and combine it with TA & TT, you should do well.
When clarity is less, take refuge in the TT with position sizing.
GM Elango sir and All
Have a nice trading today
NEW POST DONE.
Ilangoji,
Thanks. Learning from you as always. Another question, what would be the invalidation point of the 5th of 5th possibilty? And if any new high gets counted as the "b", then would it be an Irregular correction?
sir,
in your opinion, will aug puts of nifty and bank nifty
be good buy decisions now
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