5375 - Channel bottom & 5380-days low & Pivot.Below this - new lows.
If able to move past 5410, then look for 5425/5445.
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 ...
79 comments:
REPOSTING
Dear Ilango sir:
I joined late today, yesterday at the EOD i took Conservative SHORT position in my 1lot capacity at 5380 NF
As per ur premarket should i cover my SHORT if NS trades above 5415 and hold my current SHORT if NS trades below 5385
Is this the plan for the day, Please confirm sir
SIL
sir,
there are chances that fractals on daily charts may give upward signal at EOD if we close above yesterday's close.. pls correct if am wrong?
@Akki,
Yes Bank volatile. Now to watch if it can sustain above 303.
Sir Booked loss @294 now tgt achieved on terminal ,only now can see .
Plz guide accordingly for a nowice but a keen follower .
Regards
@ SIL,
The trading plan was to go long above 5380 as an aggressive trade and convert it into a conservative trade if it closes above 5day ema.
@ assortz,
Which fractals are you referring to.
Moving with >100%(Y'day) volumes.
SCRIPT Trend
ACC +
CIPLA +
GRASIM +
GUJAMBUJA +
HDFC -
HEROHONDA -
HLL +
ICICIBANK +
ITC +
M&M +
MARUTIUD +
RANBAXY +
SAIL +
SUNPHARM -
TISCO +
VSNL +
Sir,
Sorry..its an indicator from MT4.. Bill Williams fractals .. when you were commenting to MOK about fractals..i thought you are referring the same. Definition says as below
// The fractal for buying - a series of five consecutive bars in which two bars with lower maximums stand before the highest maximum and two - after it//
Thanks Ilango Sir, will do according the plan
SIL
Sir,
Another definition..
//Fractal Technical Indicator it is a series of at least five successive bars, with the highest HIGH in the middle, and two lower HIGHs on both sides. The reversing set is a series of at least five successive bars, with the lowest LOW in the middle, and two higher LOWs on both sides//
if NF SELL qty. is any indicator - they're all following master's advice :-) and so am i :-)
@Akki,
If you must trade YesBank only, Enter only if closes above 303 today. Otherwise go short like RG with a SL above today's high. On the other hand,SAIL is looking good if it manages to stay above 204. Then you can buy with a suitable SL.
sir
ur "betas" r moving fast(tisco and uni)
"papa" Ril also joining club..
SAIL has res. @ 208-9 and 213.
Other than TCS all major results met with "dissatisfaction". Must be careful with result based movers. May be the "good result" already discounted. Only 'better results" will give further momentum. Just good - No Good for this market?
@ Manu,
Kal thak aapka tha.. ab hamara hogaya..?
Parwa nahin..baath tho suntha hain na..
sir
try in Punjabi..
kal tak tera si..hun sadde ho gaya..
tension nahi..gal te sunda payae hai na..
my "puli"
:)
sir....NS is getting resisted at dhema since morning though emea and us are ok !
any caution ?
Dear All
For Intraday trading, Volume profile concept is very good . For Positional trading 5 Day Low EMA is the best. It is my experience of last 10 months. No loss only profit. Today I NF buy at 5380 VAL and Booked at 5405 Near VAH, then short 5405 and cover 5385, and again short at 5308 and currently 10 points profit and today profit in NF is 50 points.
@ manu,
It sounds so nice.
@ Ka,
This trading in 5350 to 5415 zone has been quite testing. Figuring out these small moves bring in small gains but the big ones are yet pending with equal merits.
We await the close now.
Pawan, i'm an intraday trader too - wud like to learn more .......
@Rajagopal
You are correct. This qtr results for all companies
in Nifty50 I think already discounted. If Nifty moves
above 5475 then it will be BONUS point only.
Expecting bonus point from 5475 to 5545.
I do not want any bonus point this time,
I am going to short at 5475-5480 hopefully.
RIL ko dhakka maaro all other omcs moving when is the EGOM?
very well said Pawan...though i did not that....i've been observing that...you are right !!
sir, whats your comment on that ?
regards
Dr. to Patient's frnd: Agr 1 ghanta pehle le ate to hum ise
bacha lete
Friend: Abe sale aadha ghanta pehle to iska accident hua hai
BUZZ!!!
Sir; big ones on which side
@ Pawan,
There are millions of traders trading with other systems and succeeding. Debate of supremacy only distracts traders.
MP/ Volume profile is working well in your experience. Good for you as well as those follow it.
To say that MP is the best, I beg to differ simply because it is not the system but the person makes a difference.
humble thanks and kudos as ever, sir.
take care
@RG sir,
very very good joke.........can't stop laughing...... :-)
Sir,
Punjabi sounds nice when cursing(Gali).
Telugu when singing
Malayalam when speaking
Urudu in Shayari
Bengali in poetry
but what can beat
"Sundara Tamil"?
====
Results tomorrow : PNB,IDBI,ITC,SHRIRAM,VIJAYA BANK,DR REDDY.
Yes Ilango Sir
Can we buy BN now sir
PCR of 5200-5600 strikes decreasing 0.70 now vs 0.73 yesterday
OI Addition in 5200-5600 strikes
Calls - 3510,300
Puts - 1790,550
RG
:(
Sir - yesterday dow futures was in deep red but it closed in green surprising the market - today it is opposite - do you advice contra view and purchase of puts ? regards Deepak
Hi..Rajagopal,
Sethu made a comment yesterday ..can't qualify it as good or bad yet.
"Nowadays you are getting influenced by RG".
Now I wonder ..!! so far the influence has been tremendously enriching.
The problem with being nice is that people take it as "weakness"...little do they realise that "being gentle" comes from only real strength.
@ Deepak,
That is guessing wild..It is like a throw of dice.
Ilango Sir - as my grandmother used to say ONLY THE TREES LADEN WILL FRUITS WILL BOW - however they will also have to be prepared for stones - regards Deepak
Good afternoon sir & friends!!
Today there's huge OI buildup at 5500CE (nearly 27lacs) total OI 1.25 cr (to my knowledge highest ever)...which indicates that upside is capped.
After almost no movement for about 40 minutes....Euro has finally started falling.
dear ilango
can i take long now
santu
Sir - my apologies for speaking without logic - sorry will not happen again - i just penned my thoughs - regards deepak
trying to control but not able too,
in next 20 minutes, will NS cross 5405? Kaaya/Palama?
hi dear sir
i am steel short side in bank nifty from 10027 (bnf)
so i carry forward for yesterday on sell side or
cover it today also it is stay close below day high ema.
plz give suggestion
regards,
alpesh
@ Deepak,
It is alright. Market has obliged many of our wild guesses but the same can lead us to troubles too. (Experience).
@ isthamus,
As per TA, it is a buy.
My pleasure and honour. Both of us have studied in "village municipal schools". Whether it is language or street smart steeliness, it is earned and learnt the hard way. If I have rubbed my "easy"ness on you - it is 1/millionth of what knowledge you smear on me and my friends who visit your second home.
dow is in green we r too in green means it is
discounted still we r in the upper end of range only.
really confusing to be a bull or bear
Ilango Sir,
======
I have conservative short in NF @5398. Can I hold it for tomorrow? or close it?
Thank you Sir
======
Sir; I beg to differ,the more the succeessful the person is more are his detterants an he faces more critcism somewhere I have read that when a person aspiring to become a director of films is unable to do so opts for a critics proffession.Also dogs always bark behind a mighty elephant since they do not have their own mind they only critcize your views
@ alpesh,
Closing below "Day High ema" is not a positional sell but "Sell on rises".
Wait for 10200+ or a break of 9885 for safe Shorts.
The upmove today from yesterdays close does not look impulsive, can this short upmove be the "B" wave with tgts arround 5430 and then the big "C" wave down.
Vix
Open 20.38
High 20.38
Low 18.82
Current 20.03
Prev Close 20.38
% Change 1.71
Sir pls clarify???
@ Rajagopal,
:)
@ Prabhakar,
In this narrow band of 5355 to 5415, we sold @ 5405 and suggested to go long above 5380 today to manage the position.
It is difficult to advise as the signals are changing everyday & possibilities are there for both.
Going long today was mainly because of 5 day stochastics (5-D : Refer PreMarket).
I could go wrong. If in doubt, do what your head says.
stocktipsatobeya,
It is a possibility. Yes. And sometimes it may not make that high too. Part of it all "educated guess work".
Ilangoji,
So the aggressive buy gets converted to conservative now as the closing seems above 5DEMA?
Dear Ilango !
I beg to differ regarding medium term bullishness... Nifty has shown negative divergence with a/d line. one of the very strong indicator of market strength according to me....of course, short term may be different but Nifty is poised to fall according to the history in my opinion!
thank you sir.
Ilango Sir,
Sent a mail last week seeking some help on your Tech table..Pl respond and help as and when you are free..Thanks
S NAGARAJAN
COIMBATORE
@RG is BHEL poised for a big upmove ur TA?
Ankhurbbhatt,
Negative divergence persists.
Upsides, if any are limited for the short term.
If come & takes supports @ 5200, would be great.
after u put out the 5d i checked it for many occasions
it has failed only on one and fared very well on 4-5 occasions
i cheked
"Closing pattern" is not encouraging for the Bulls.
last two major sell orders @5 lac nifty
US closing in GREEN since last 2 days, what if they decide to "profit book" today and end in RED :-)
Bhavan, how can one chk. those last big orders? pl. advise.
High Turnover Day.Rs.109000 Cr.
Dear Ilango,
What is a possibility of a correction according to EW? and upto what level ? If I took hyou right, is it 5200 on a downfall acc. to EW ?
ditto same for august future expect they have a corresponding volume
Actual it is 104000.Typo mistake
@janak which ODIN do you have
Bhavan, i don't use ODIN - but use Karvy's GoTX
@ Ankurbbhatt,
A 5 waves seem to be over from 4786 to 5453. A correction of 38% & 50% are normal.(5200 & 5120).
Whereas such a correction coming at weekly "OB" readings can change it to downtrend too.
We know that the direction is closer to reversing to Down..some confirmations are required. They will come soon.
Bigger corrections can still find supports @ 4650-4750 below 5000.
Until a clear formation does not come, we go with an immediate view that a correction upto 5200/5120 possible but not confirmed yet.
Hi..Niftysparks,
I understand it well now. :)
Thank you for clearing the air. I very much appreciate it.
Ilango Sir, I am becoming a disciple now. I have stuck to my shorts in NF......
Hi Elango,
Indicated "Going long today was mainly because of 5 day stochastics (5-D : Refer PreMarket)".
In premarket file, which sheet I should refer. I could not not find.
How to interpret any link to read.
Bose
@Ilango,
Thank you for all the comments today. It was a good conversation....
Hi, Good Evening Ilango Sir,
Charts and pivot table suggest positive notes for market tomorrow, but market is still in fragile stage. It could go either side.
According to me Market may remain in the range of 17,700-18,150.
Ref: Stock Market For Tomorrow(22nd, July'10)
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