Knowing that a correction is on helps you to weather the frustrating phases of the market and stop you from commenting "market is going nowhere" but sense the strength/ weaknesses of the bulls & bears during that corrective phase.
Robert Beckman says, " The best phase of the market during which the strength & weaknesses of the bulls & Bears are tested is during the corrective phase and you learn a lot about the market & its likely future movements by mastering, studying the types of corrective phases". That is 80% of the market hours (sitting tight...Chumma iru as Lord Muruga said to Lord Shiva)(Mortals will have tough time sitting tight) and the remaining 20% is harversting time - closing out as well as initiating positions.OR is it 85:15 or 90:10.
31 comments:
Just to put it out there: there could be more than one 3rd wave.
(That being said, I'm still stuck and want the nifty to crash.:)
Good Morning Ilango Sir, Yoda and all.
Ilangoji,
BP means?
Yoda,
I have 4 lots short from 5350 from 2 weeks ago. Ouch !!! Still holding for a miracle expiry week :)
@ Fire: BP means Book Profit.
Good Morning all!
If it comes near 5431 (hour high ema) or 5437 (day high) even, better to offload, gd.
Good morning everyone
Nifty daily chart analysis
http://niftychartsandpatterns.blogspot.com/2010/07/nifty-daily-chart-analysis_23.html
Thank you
Dear Ilangoji,
I am a silent follower of your technicals for quite
some time.
Can you throw some light on wave structure
of BN for positional trade.
I am always comfortable with shorts rather than longs.
So am looking for down side possibilities
in 1-2 weeks time frame.
Regards,
Hi Friends,
Here is the link for Today’s MySAR_A levels :
Added TataPower, Suzlon, Sterlite, Wipro, Ranbaxy…......
http://www.4shared.com/document/LDbqLiAe/MySAR_A_Future_for23th_.html
The following link shows how much profits this positional trading system has given so far in the last trades entered into. :
http://www.4shared.com/document/_bVf-JN6/Summary__upto_22nd_July_.html
For detailed summary of trades of Nifty 50 scripts, the link is :
http://www.4shared.com/document/GL6kD1ys/MySAR_detailed.html
To view how much points the system has earned during the last 6 months, the link is :
http://www.4shared.com/document/4EUsPZA1/Points_earned_22th_.html
In fact, this is the positional trading system, but one can get benefits of intra day volatility using the MySAR_A levels.
Keep long position above MySAR_A and short position below MySAR_A level.
Always initiate trade near to MySAR_A level.
Never try to catch the running train just to avoid the risk of accident. First wait for MySAR_A level hit, and then initiate trade accordingly.
Moreover always wait for 5 – 10 minutes after MySAR hits soasto confirm the trend.
-gauresh59
Good Morning Sir and Friends.
Decided to be IMMORTAL today(!).
hi
dear sir ilango good mornning,
whats is ideal level for buy in nifty and bank nifty?
regards,
alpesh
Thank heavens the vix is rising.:)
Good Morning Sir and All
Have nice profitable trading today
Good morning Ilango sir and all
Sir, As per the instructions given in the chart my plan is - wait for 5425 levels and if it finds support at that area, book out the current shorts else wait for more downsides and hold the shorts" Will it be okay sir??
sorry for reposting........,
hi
dear sir ilango,
good mornning,
whats is ideal level for "buy" in nifty and bank nifty?
regards,
alpesh
Good Morning ALL
gm ilango and all..
gm IMMORTAL rg sir...
GM ALL
I am holding my RIl long and 2 lot shorts on nifty, Looking for exit oppurtunity, and looking further for sir's comments
"(Mortals will have tough time sitting tight)"
Tech term for Sitting Tight is "Immortal". Even Mr Subba Rao is not visible-the only sign of Fast Fall set up.
Hi Gauresh59,
I am refering your MySAR levels daily for trading. However, dowmloading file & read during market hours sometimes we may miss chance & can't male pre-plan for trading.
Requesting you to inform us method of calculation of SAR level. Useful for all readers of this blog.
Bose
@Yoda My personal feeling (suggestion) is that you should not worry much about ur shorts today as today is the last of the dabba trading of the week and so will b volatile you may get chance to get around 5390 levels Find the TA levels arond that or POC )and monday will most likely b a down day to enable buying before RBI 27th meet as no rate cuts at increase at present are anticipated and that is why a off loading of SBI and othr bank yesterday.LOL
The sharp up opening may have ended the "iii". A prolonged "iv"th wave correction may be on till Monday in the range of 5475-5490 to 5435-5445.
good morning! Yesterday I have sold nifty @ 5385 with sl of 5412, but my sl did not execute and it exploded upside. What can be my strategy for today, Ilangoji, please advise. Sorry for asking advice for indivisual position, but this may also help a few others. Some people visit temple during during distress !
"Some people visit temple during during distress"
dukh mein sab kar sumiran-sukh mein kar na koi
agar sukh mein kar sumiran,dukh kaan sae ayee?
hi sir plz give nifty and bank nifty "ohlc" value
regads,
alpesh
Dear Sir & TA family very GM to all .
Regards
NEW POST DONE.
@ SKMishra,
Apne andar mandir ko rakhein, kahaan doonduraheho yeh Bhagwan ko.
You are good. Plan & revise the strategy.
Look for 5425-5435 and while it comes on the screen, see how the TA looks and take a decision then. As long as it trades above 5408, it is UP.
NEW POST DONE.
9-10am Volume Toppers
SCRIPT % OF 5DAY % OF YDAY Trend
CAIRN 73 26 UP
HEROHONDA 42 34 UP
ICICIBANK 42 40 UP
IDEA 75 59 UP
TATAPOW 51 39 DOWN
WIPRO 137 138 DOWN
@ Rajgopal take my painful smile.. let me see how to come out of this!!
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