For Intraday trading, initiate trades only at the calculated levels while the intraday chart exhibits Overbought or oversold. For eg: do not sell when the intraday chart shows signs of moving higher even though it is at the resistance levels and vice versa.
For high probability selling, Nifty should have closed below DHEma and more below 5DEma and more below DLEma meaning when the day has given a sell indication, the hour(intraday) would find it hard to sustain higher levels. Shrewd traders would wait for such set-ups to emerge to initiate trades. The same may be applied for buying.
The aggressive selling is based on overstretched hour with negative divergences as well as overbought Day and closer to the last retracement point of 6209NS.
28 comments:
Good Morning Ilango Sir and Friends
Nifty Daily Analysis: CLICK HERE
sir,thanks for including the JNSAR in the trade table....
Be pleasant till ten o clock in the morning and rest of the day will take care of itself..
-Elbert Hubbard
Good Morning Sir and Friends.
Good Morning ALL
GM to all
Please can any body throw light on why FTSE is down by 1.19% whereas all other CAC(+2.53%) DAX(+1.09)and all US mkts substantially + ?
ftse data was 31 dec yday it was closed
good morning,seniors..
Good morning Sir and Friends
@rrknan
Thanks
Gm Illango Sir & all.
@ Bhavan, Thx for ur kind msg Yesterday.
U notice my trade is a great pleasure for me.
Now todays trade Nf restricted @ VAH.
Go short @ VAH or POC T
T- VAL & below it yesterday Low.
ORB has given a sell?
Hi Ilango Sir and friends.
Very Good Morning.
@Musti,
What is VAH, POC T and T-VAL?
@ Debdeep,
these are value areas as per market profile.
For More ask Illango sir,he will provide a link for a deatailed
write up.
@Musti
Thanks.
Feel today also is going to be a big laborous day for the nifty to maintain it's tight range.i do not expect high downside today.So a good day for people like RG who can scalp or for the brokers.
@ Bhavan
As I post my trade,Nf made a low near to VAL.
Breakkkkkkkkkkkk
yesterday Low
book Out 1 lot
@Musti i feel it will trade between yesterdayz VAL and todays second resistance of premarket view
Banks pulling the index down.
I am facing dilemma now as all the side stocks I watch have reached there levels which were calculated by me:Tisco :700 BN 11900 and RIL not budging from 1065 NTPC:200 so perplexed what to do with nifty even following TT strictly gives hardly 10-20 points so waiting outside till it reaches 6090/6048 to buy nifty back
@P.S Did you renter your JNSAR longs?
@ Bhavan,
Why dilemma..? If most have reached the targets, book out atleast partially.
As a trader, go aggressively short. market has attempted 6175, 6180 zone for two days and have failed.
A close below 6139 would confirm a sell on rises.
NEW POST DONE.
@Musti,
Atleast pls post the full forms of VAH, POC T and T-VAL for now. If I don't get the meaning then I will later ask Ilango sir for a details regarding these.
Thanks Sir;
Booking out of Tisco RIl and waiting for better intraday levels in NTPC I donot trade BN as it is too risky for irregular traders like me and will short nifty at oher inraday higher level.
Hats off to you Ilango Sir. The short initiated yesterday is simply rocking.
Covered all @ 6162.
Now try to reshort near Val
@Debdeep
VAH value at higher levels where most ttrades were made on the day before
POC point of control
VAL value at low where buyers protected there position .
u search for it in the blog in last year dec. or Jan sections or maybe till march you will find it till then look for the values in premorning tables and they are future nifty values
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