This last move down of 4th(If it is) should not move beyond 5160 considering the expanding nature of this corrective with each leg exceeding the previous one. If there is bullishness it may limit itself to 5250 or 5200.
Until it moves past 5325, correction continues.
44 comments:
GM all
mok your quote noted
Good Morning everyone
Nifty daily chart analysis.
http://niftychartsandpatterns.blogspot.com/2010/07/nifty-daily-chart-analysis.html
Thank you
gm all,
I wonder if it will retrace or go on forward.
Watch $ index < 86.30 to 86.60 > for direction.
In the hour charts, it has a rising wedge possibility (negates if moves past 86.60) which is bearish for the $ index, bullish for equity markets.
My 2 cents...
http://safegamble.blogspot.com/2010/06/nifty-july-1.html
-- gd
GM Elango Sir and All
Have a nice profitable trading today
@Elango Sir
Hangseng mkt not opened today ? Holiday ?
FIIs are net short 3000cr in the market. And they didnt do much yesterday. Isnt the market biased lower ?
-- gd
Ilango,
this fall could be 2nd of 3rd within 5th followed by explosive 3 of 3rd. this is valid if we dont fall below 5250
It shouldn't go much lower than 5250 NF if it means to go up...
@ yoda
repeating my yestreday nights query could you please elaborate from where or how to get vol. figure of your spreadsheet
in two minute chart
@Bhavan, ohhh, you mean volume?
Since I'm using Nifty Futures, there's volume in the spreadsheet (since Nifty is an index and has no volume). I get my hourly ticklist from Indiabulls.
Does that answer your question?
A bunch of folks here had requested to Yoda's spreadsheet which I had it as a Google doc. Unfortunately I cannot respond to everyone's email. So here is the link...
http://spreadsheets.google.com/ccc?key=0AllWKRfXQB-0dGxvTGstZEI4bGk2M2tqeEF4MG1TalE&hl=en&authkey=CKqJzuoN
Thanks
-- gd
@ YODA
no madam i mean volatility count that you are taking in consideration as stoploss
gd,
mok's done some work on it, I'm sure he'll share it with you to add to your doc when he has more time. Esp. on how much more profitable it is with BN.
alright, Bhavan, I answered that query yesterday. let me cut and paste.:)
@Bhavan,
Just the hourly High minus the hourly Low.:)
It's not the vix, but gives a good indication of how volatile the prices are.
Good Morning Sir and Friends.
Gd,
How can we download it? If possible proide that option also.
Sunil
The vix, I found out in the process, is a surprisingly complex calculation. I'm always looking for simplicity, so I figured this was enough.
Nifty to continue its upward trend? i believe so - Ilango Sir? US market's last hour played the spoil-sport hence this panic....
@YODA
thankyou this i feel should also help for other sripts
@moneyinrupees,
You can download it from here: http://www.4shared.com/document/L8Px-P7A/Trading_on_Ema.html
or wait until mok does his bit and get an improved version.
Yoda,
Thx a lot .
regards,
Sunil
@Bhavan,
If you set your stop loss about one or two ticks below the range of the day or the previous day (high - low), you won't get stopped out so easily, and can avoid whipsaws.
Hai everyone
Nifty resistance line looks too strong to cross
http://niftychartsandpatterns.blogspot.com/2010/07/nifty-resistance-line-seems-too-strong.html
Thank you
@ALL
GM
NS @ support level of DLEMA 5245
bought small qty with same SL
kk
Hi Ilango,
Any move below 5245, (giving some leeway 5235) would be a break
of the channel and that would mean end of this rally.
Which means there will be no 5th and this move from 4786 was entirely
corrective, ie, either 'b' or '2'.
If it doesn't break that then, this is 'ii' of the 5th. @ 5245, it is .68 of the
rally from 5210.
@Elango Sir
I am holding Nifty at 5316.
Shall I hold it today.
Kindly guide me
@ GG,
We had two supports yesterday - 5260 & 5240-5245.
First one broke at open and the next one is holding now.
Break below 5240-5245 may lead to 5190-5200 to complete this 4th as a double zigzag. Anything beyond will be labelled as you mentioned "b" or 2nd being completed at 5367 and 3rd or "c" has commenced.
For intradayers, it is sell @ 5280 or below 5260.
Dear Mr GG ,
Really appreciate your comments.Very reflective and insightful comments. Please keep the good work. Thanks.
@ ALL
NS SL HIT @ 5245
kk
@illango sir,
doesn't it seems like '5' wave of this first move from 4987 to 5323 got over yesterday (here '5'th is lower than '3'rd(5367)) and we are now on for '2'nd corrective towards 5050 levels...
I am commenting this on the basis of oscillator and momentum indicators...plz correct is this possibility exists...
Good morning Ilango sir and all
Sir can you give me the opening and high of NS?
Sir,
The dollar index is currently 86.4. Can you elaborate about it? I could not follow you earlier mentioned post about dollar index! Please clarify!
Gm Illango Sir,
Yesterday long to be held or exit as I have buy at higher
rates. I am cofused to book loss or hold.
NS already touched 5240.
Plz sugest regarding position.
@ satheesh,
5276.65 - open & high
@ Anil,
I will give 5190-5175 a chance. Bit aggressive traders may sell on the break of 5240 or @ 5265-5275 with a SL of 5285.
Hi Everybody!
Dollor Index after giving a spike upto 86.48 now started downward journey & trading @ 86.38, if it breaks 86.30 as ILango sir suggested in morng then good recovery expected in Nifty.
Rgrds,
KUMAR
hi all, i believe in Indian market's strength at the moment - it shd continue its upward march now...
hello friends,
Nifty Future chart posted... expecting a reversal from here or from 5220.
http://tradingontechnicals.blogspot.com/2010/07/nifty-future-15-min-chart.html
Thanks
When NF touched almost 5240 there were only to big volume one mints.trades at 5247 at 9.50AM and 5249 at 9.31AM.consisting 2.40lac and 3.75 lac volume respectively.
NEW POST DONE
EUR-USD giving a breakout?
test
OT...
GMRINFRA holding 50 DMA at 58. Watch for a breakout to 200DMA at 61.
-- gd
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