A correction is on as is evident from the close below the "High ema" for two days. Until a sustained close below the "Low ema", treat it as a correction only. Price should confirm and then accept it. For the moment, the Hour & Day are down but Week & month are UP, a fact worth remembering.At critical moments, verify the "Weight of evidences" from the market with breadth, divergences, etc.
Trade these levels.
29 comments:
gm all,
I'm convinced our markets will go up - even if not immediately. Lets see how the markets behave today.:)
Yoda - I am with you too. I was expecting Asia to open a HUGE GAP DOWN - nothing sort of that is there except in HANG SENG - which has also started recovering so we might just open 10-15 points down and head towards 5430-50 towards the end of the day.
Reg. your comments: "If this 23 hr trading starts today, there's no 'eod' at all. I wonder how analysts will work for data.
As it currently stands giving the edge to foreign traders, its very unfair to us. But if you look at it another way, from the biggie FII point of view, it must have been unfair to them all along to have to trade just for a few hours at odd times for the amount they invested in India.:)"
well, NSE should have thought abt. indian investors also - because now we will be dancing to the tunes of FII and the rest of the world - that too for our index!!!!!!! nothing can be more ironical than this.....
Hi Friends,
I calculate MySAR using the EOD data for conservative trading only and not for intra day trading. And this level is to be applied on the next trading session. Hence I have termed it as MySAR_A (means MySAR applied)
I suggest to enter into trade only on the breach of MySAR_A level. It is very dangerous to catch the running train. In stock market opportunities always come and go. Hence never feel that you have missed it…..if you miss any one opportunity, it will come again after some time again…..It is better to wait for next level ( MySAR_A) to come and enter at that level.
When price crosses above MySAR_A level, enter into long trade and if price crosses below MySAR_A level, enter into short trade.
You can view how this system has helped me from following link.
http://www.4shared.com/document/516SUSJg/Points_earned_16th_.html
For 19th July, here is the link for MySAR_A levels
http://www.4shared.com/document/XB8ofnCm/MySAR_A_Future_for19th_.html
-gauresh59
Janak,
What I've observed of modernization is that when they widen your road, it isn't for you, or to improve your community - it is to let others bypass you more easily.
Same with markets.:) They've made local traders irrelevant in globalization.
GM all
@ yoda
Good amusing note. I agree.
I bet nifty will breach 5300 today.
ty, wealth creator,
Jay had told me once about how the B'lore Stock Exchange was devastated by the formation of NSE - only BSE, Mumbai survived of all the local exchanges.
I'm sure the local traders all over India felt like us now, with this 23 hr newbie, but change is a constant... tomorrow, we or younger traders, might celebrate it as we/they move into offices on Wall Street ... and take over the global economy. lol ;)
Good Morning all!
Hello Ilango sir,
I am visiting your blog after almost 8 months. Looks like I missed some action. Trust all is well.
Could you or any other board member, please explain how to read the Trade section in the Pre Market view?
Trade: 5330 << 5345/5350 ---- 5385/5390 >> 5415-25+
@Krishna,
If nifty starts below 5345/5350 you can short; if it starts above 5385/90 you can go long.
Hai everyone
Nifty technical analysis.
http://niftychartsandpatterns.blogspot.com/2010/07/nifty-technical-analysis.html
Thank you
Tata consultancy services ltd resistance line
http://niftychartsandpatterns.blogspot.com/2010/07/tata-consultancy-serv-lt-resistance.html
Thank you
Good Morning ALL
Good morning Ilango Sir and all
Thanks Yoda... Have a great day...
Good Morning All,
Yoda, we are ON - look at the BUY quantitiy in NF - market is going up
lol, yes, Janak.
yw, Krishna, you too.:)
Good Morning Sir and Friends.
GM Illango sir and all
-Testing -
OT...
TATACOFFEE up 5%. Why ?
@Gauresh,
your sar for Reliance futures is 1064.76. Prices are occillating +- 2 from this levels. What stategy do you employ in this case?
What a horrible month to trade. We are in a 200pt range. And first few days, there was a seesaw trading. Then one runup and we are back to a really small range.
NEW POST DONE.
Possibly wiht so much buying in nifty i think the afternoon may see some good selling cz when ever so much buying in nifty and BN always i fear ........
gd - Tata coffee great results due tomorrow.
HDFC Bank today.
ABB down and Rcom up with 70% of 5day avg vol in first hour.
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.
Rgrds,
KUMAR
It's just anxiety coming out as predictions, kumar, esp when we're overtrading. I used to make a lot of these too when I was heavily over-exposed.
Also, I've begun to get the impression that we precede the Dow by a couple of days, and cushioned. Haven't really charted to check, but our fall began while the Dow was still moving up.
Anyway, the afternoon may have some surprises yet, lets see.:)
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