The 2nd wave labelled in the daily chart shows an "irregular flat" correction which portends very bullish possibility. Accordingly, it is possible this supposed "5th wave" may be part of the extending 3rd wave, meaning "iii" of 3rd wave from 5210 lows.("i" being 4967 to 5367(400 points), "iii" may exceed 400 meaning a move past 5610(5210+400).Considering the 'ascending nature of the "b" of B wave in the weekly chart, this "C" wave could be very bullish.
We'll watch participation from broader markets (yes..presently), FII's buying (Yes..presently).And also the world markets which are on the verge of triggering uptrend(Not yet)..So hold your excitement..but follow the prices as reflected in TA. (Caution about perceived -ve div in some daily charts.).
40 comments:
very good morning Illango sir.
Without having any technical Knowledge,
I have shorted Nifty @ 5385,
request your advice on how to minimize my loss.
Pls help me. Many thx in advance sir.
Megha
Hi Elango Sir,
GM & to all.
Add FII on 5th july10. Buy:877.94 & Sell:1098.49 So Net:(-)220.55
Bose
GM Elango Sir and All
Have a nice trading today.
Soon NIFTY will KISS 5500+
@ Megha,
As Nifty is breaking out of this big trading band of nearly 1 year (4600 to 5400), it is better to exit at the first sign of loss with minimum damage. Asia being UP by 1.5%, 5445 to 5425 on a minor pull back may be a good chance to exit your short.
Even though you may not have a TA knowledge, staying with the colour of the Tech. table (Green for uptrend and Red for downtrend and mixed colours for choppy/ sideways market), you will be trading safely.
As there are multiple possibilities here, it is difficult to advice firmly. Nevertheless, I have done so as you are holding "shorts" against the trend as well as "Big money buying".
Cutting a loss early, even if proved wrong, will allow you to look at the market afresh for opportunities.
Thanks for your guidance sir. I will follow you.
gm ilango .....thanks for the FII's figures....
Good Morning Ilanga Sir and All.
Thanks to Megha and Ilango sir. Yesterday i also went short at 5386. I will exit as per the guidance. Thanks once again.
Ilango Gm
Just wondering here is FII buying to SELL...
means also this is a pump and then comes REAL DUMP??
Just a perspective;
http://farm5.static.flickr.com/4138/4792355354_e071d94db8_b.jpg
Cheers!!!
Sir & Family
GM..
sir plz take sebi figures..Nse are prov.
can check mastermarts.com(right side bottom)
i brought into notice the difference in figures of 9th july
Dear Ilango,
Good Morning,
A gap up opening generally does not provide big opportunities for a day trader.Positional traders have always the advantage or disadvantage of the same.But in today's circumstances due to big Fii money,today if there is any gap up opening around 5450 then still I feel the lot of opportunities for day trading.For me the real short covering may start above 5450 if NF shall stay or start to trade above 5450 after one hour of trading.Still there are 8 trading days to go for an expiry and still NF is carrying 3Cr plus O.I. which should be minimized by the way of short covering only,if Bulls want to keep this journey up.Yesterday's huge addition in 5400 PE of 11 lac out of 39.50 O.I. is the likely indication of the more steam left in this rally.Market is always supreme so let us see what is next?
http://safegamble.blogspot.com/2010/07/nifty-targets5490-5520.html
hi mynac...
thanks for the OI info...
Good Morning all!
@mymac , 8 trading days left, explain?
Dear wormwood34,
It's my pleasure,thanks and GM to you all Blogmates with big thanks,because you people used to comment on various aspects of the market which is very much good for every one.I really respect you all.Thanks.
Dear lazydude ,
You are correct,instead of 8 it must be 12 days.sorry for the same.
Hai everyone
Nifty daily and weekly view
http://niftychartsandpatterns.blogspot.com/2010/07/nifty-daily-chart-analysis_14.html
Thank you
Hi Friends,
Here is the files for Today’s MySAR_A levels for Nifty, Bank Nifty and some other Nifty 50 stocks. Please keep in mind that these are the figures for Future Prices and not spot prices. I will add figures of Ranbaxy, TataPower, Suzlon, Sterlite, Unitech, Wipro from Monday onwards.
In my trading technique I have applied certain filters along with 5EMA, 5Low-EMA etc. soasto reduce whipsaw in the trading and minimize possible losses.
http://www.4shared.com/document/CtY1FO4c/Points_earned_13th_.html
http://www.4shared.com/document/tCvipr9o/MySAR_A_for_14th_.html
http://www.4shared.com/document/PPnLrFuV/BankNifty_Future.html
http://www.4shared.com/document/FbTNghLS/NiftyFuture.html
-gauresh59
My price (5457-5459) & time (14 jul) target will be met. Even if take a short around 5455 Ns
I would not have the courage to carry it overnight :-( if it doesn't close in my favor which at this point is a big ask
Good Morning Sir and Friends.
dear mynac. you mentioned 3.2 crore OI in NF which can be minimized by short covering only.how to identify whether this OI is for Short or Long ????
new to OI
Hai everyone
Nifty futures daily chart view showing break out above 52 week high.
http://niftychartsandpatterns.blogspot.com/2010/07/nifty-futures-daily-chart-analysis.html
Thank you
Dear rajnish kumar,
The EOD bhav copy by NSE site for derivative market is the best judge.If market goes up and there is reduction in O.I. then it was short covering and vice verse.
negative divergen on 5 min spot nifty
Hi Everybody!
Nifty opened in gap & my stop loss 5415 has hitted so i squared off my 50% shorts near 5432 & remainning 50% i will square off near 5415-5420 or above day's high. No need of fighting against the trend, 5415 has signalled a big move in coming days.
Rgrds,
KUMAR
Gm everyone
Good morning Ilango Sir and all
=======
Sir,
My son got admission in Computer Science and Engg., in IIT with your blessings. I am reposting your words:
“@ Prabhakar,
Welcome back. Hope your IIT work went well.
June 14, 2010 2:29 PM”
=======
Yesterday I booked profit in NF at 5420 initiated at 5365 . Thank you for your analysis. I have no position right now can I go long at 5385/5395 or 5425?
========
Prabakar sir...Hearty congratulations !
Very best wishes to you son....whats his rank ? IIT Madras ?
regards
gm sir and friends,
rgsir sunpharma in a process of forming triangel in daily.
it can be classified as pullback with bullish divergence
but it should hold 1710-1680 region. as fast rise setup.
hourly in hourly a breakout failed once attempting
again in down channel
Prabhakar,
Congratulations to you and your son. By the way which IIT?
Best
manoj
@ Prabhakar,
We are happy for you and wishing your son to do well and bring more happiness into your family.
Sofar Nifty has been correcting 30 to 40 point from highs and continuing to move higher. Accordingly buy @ 5415 with a SL 5385.(keeping in mind the larger uptrend).
Short term is OB, hence some selling can also be done for intraday.
@Ka,
Thank you. His rank is 406
any OI has to have buyer and seller of same , only we have to judge that buyer is strong or seller and base our trade on OI reading.
Thank you Ilango Sir
OT...
GVKPIL unusual futures volume. Stock up 5%...
gm all. Does it go up from here?
Congratulations, Prabhakar, for your son.:)
Good to see lazydude back - your last post here was on my mind.:)
@manogag,
Thank you. IIT Madras
406 !! god, thats a very good rank.....He has locked-in a perfect career Sir !!!
Which school is he from ? Foundatiions always matter.
regards
NEW POST DONE.
@Prabhakar,
Congrats. Which IIT ?
I was 1989 batch. Only top 100-125 got into CS those days. Now I hear top rankers take not just CS. Those days it was CS or Physics ( nerds ). Also those days only 1500 seats. Now we have more seats and IITs.
Tell him to take it easy. Because once school starts, he will be squeezed. :)
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