We trade the direction and EW & TA(TT) are tools to guide us there and keep us objective enough not to make error of judgements.
Monday, January 31, 2011
Nifty PreMarket View.
The earlier post has stated clearly the "Long term Bull scenario". And it had 5400 and 5369 as two support points to have an immediate bullish possibility. Below the last major pivot low of "5349", bigger downsides get confirmed.
We trade the direction and EW & TA(TT) are tools to guide us there and keep us objective enough not to make error of judgements.
We trade the direction and EW & TA(TT) are tools to guide us there and keep us objective enough not to make error of judgements.
Elliot's Impulse waves.(Part-5)
IMPULSE WAVES :- The Basics Waves that move the market in the direction of its main trend either up or down are called Impulse waves. 1....
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5010-5039 supply zone proved a ST resistance. 5002 proved a break down point. 4945 to 4982 proved a corrective rise, monitored with an ...
30 comments:
Good Morning Sir and Friends
Sir Please Update the pivot levels
good morning sir and all friends, today we will get monthly candle which is more likeley BEARISH ENGULFING, which is effective pattern. so based on that we may grind lower. EVEN who follows long term monthly chart they would worry about investment
Dear Ilango sir,
I'm new to your blog and have gone through the study material that you've provided.
As per what I've understood, the JNSAR gives a sell call on the Nifty since the spot (5512) is below the day's JNSAR (5710). Moreover as per 5 ema, high ema and low ema we're all in red for hour, day and week.
The pivot for today is at 5642 a whooping 130 pts below Nifty spot... so that's also bearish.
The only silver lining is the fact that f.MACD for the last hour is rising...
My question is, as per the technicals, does it call for shorting the nifty at opening?
Regards
GM ALL. @ Manoj bhaiya= savdhaan= mainae kal bahot
study kiyaa hae charts ko= theek nahee lag rahaa.
friday ko on lower levels aur zyadaa buy kiyaa thaa,
and averaged at 5492 spot=90% 5520 pae nikaal diyaa.
be careful manoj
Good Morning Sir and Friends
Good Morning Manojbhaiya... today the SGX is suggesting that we'd open lower. Would you still hold onto your longs? Won't it be a wise decision to jump onto the short side and ride the down wave?
By the way, are you still holding longs? Himmat hai bhai sahab aap mein!!
regards
Good Morning Sir and Friends.
@buzz= do not be too confident for the downside. What
u n I and all know= mrkt knows before us. Short covering
will emerge for sure at lower levels
@buzz= last night, me and few others studied the charts
n we came up with the immediate levels as follows
= 15EMA @5407/43= corresponds with pre mrkt low of
5408. 5SMA @5512/15. corresponds with our higher end
of pre mrkt levels.give or take a few points= 5407
will b the level to watch for a RUN UP
Ilango Sir and friends Good Morning.
@Deepak
Why should be there short covering. It is not mandatory. Unless the bears want to give bulls some respite they can continue to carry their short holds till the expiry and leave it to auto expiry. Remember November series; when the premium was high for roll over the bears did leave their shorts to auto expire. Readers comments please.
Good Morning ilango sir and friends,
Today's quote received :
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Good Morning...!!!!
@Deepak, If I were holding a short, I would not close it. As per technicals, none of the indicators are pointing towards an upside. What should be trigger to close the shorts?
Regards
@buzz= only 1= that all r short = that is the only
technical indicator my friend
Gm Illango sir & all.
Covered my Option Hedging Strategy with 204 points profi in
just 10days
Dear Buzz & Deepak bhaiya!
Thank u aapki advice ke liye, Par maine ye Nifty koyi 25-50 points ke profit ke liye buy nahi ki hai..mera target 400-450 points up ka hai. So bhai logo mai is fall me aur buy kar raha hoon, agar Nifty 5450 ke neeche close hogi to bhi mai kaat doonga aur tabhi Buy karunga jab 5450 ke upar close hogi. Aur agar 5348 ke neeche intraday bhi jaayegi to bhi mai kaat doonga. Abhi 5430 spot nifty par maine maal aur uthaya hai..aap sab bhi uthaao..aaj panic ka last day hona chahiye.
Manoj
5387 (161.8% of W-2)
5378 (61.8% retracement of the rally from 4786 to 5339)
Bhai logo mai apne trade me kabhi confuse nahi hota hoon, mujhe apna stop loss aur target pata hai aur risk reward ratio bhi maaloom hai aur isiliye full conviction ke sath trade me jata hoon. Fir bhi aapke concern ke liye shukriya...
Manoj
@manoj bhiya= mainae bhee 5426 spot pae buy kiyaa
hae. Will keep buying upto 5392 spot. I do expect
an upside move manoj bhaiyaa. Bas aap aur mae long
hae= bakeee sab= short
some amount of longs@59 lakhs or so seems to have
been built up at lower levels. can anyone check plz???
Deepak bhaiya!
Dhanyawaad...koyi to buyer nikla..thodi jaan aa gayi. Arey mitro ye 5450-5348 long term support area hai koyi chunnu munnu type support nahi, is area ke break hone par saari kaaynaat hi aane wale time me palat jayegi.
Manoj
Hi all, what I understood from Manoj's call is he is in buying mode till 5348 is breached for a good upside. Deepak also has joined in buying spree with TSl 5392.
I am also trying with a long string here. :)
NEW POST DONE..
Manoj jee: 5450 to break ho gaya hai?
Cam levels
L4 5427 Short breakout.
me too took a small long
Sir & Family..
Gm..
thanx sir for the bullish count too..
i will tell you one thing sir those holding
portfolios will always be bullish by heart
hope rv and jazz..listening..
one more thing "1313 Jan 2011 1187 Feb 2011 (9% correction)"""
if it so then "jab ham jawan honge(feb2011)..
tab ham khan honge 4500""
and last thing :
i was not able 2 hold my nerves (after 7 years)and lost 50 %.. n trading..
25 % portfolio down..left with 25 % ..
i m not a good trader..stopped trading..
i m good at investing..
was not able to take two minds together..young age..easy money..
became a victim..
@Manoj bhaiya= 15EMA monthly @5407. Isae todhnaa bahot
mushkil hogaa i think. My trgt for 2day on the upside=
5512/15 = 5SMA daily. Will hold all longs above
S1 at 5453 spot. No resistence above this
likely upside trgts if s1 @ 5453/65 sustains = 5480-
5495 - 5533 - 5566
GM
@Yoda;
This has referrence to your querry to Prashant,I m sharing my observations both on ATP and HAWAL.
Take hawala and ATP as Pivots.In 99% of the cases (baring exceptionalcircumstances)any sript or index invariably visits hawala/Atp during its monthly/daily journey.
Hawala is a monthly Pivot ATP is a daily Pivot.
You can use this unwritten law if you r caugth on the wrong foot anytime.Meaning that if a security is in an uptrend and you have shorted it and even then it goes on rising wait patiently till EOD u would mostly get to reverse your position near ATP of that day
EG. If a particlar sript's trading range is 20Rs. /day and its price is 160 rs.during the previous days happenings or some news u might have heard you choose to short this script early in the day when it touched 172/ .Note the ATP of this script it could be 171/.But whatever u have heard turns out to be false and the script runsaway to 184/.The ATP would have risen to 176 at that time, you can patiently wait without being panicked 99/100% you will get to cut down your losses as during the day the scrit rates will invariably visit 176 the new ATP+/-1re.This will help to minima=ise your losses. You can also use this for a entry in a particular stock/index ,if you want to go long and have missed the chance earlier in the day.
The same stands for hawala once a month the index/script will surely visit the HAWALA or somewhere near it before deciding the next course.
These are ofcourse very crude methods but still they are the basic and can help you when u donot have any means to calculate all the moving averages.
if you take today eg. on nifty currently it's ATP is 5460 eventhough it has traded from 5484-5438 meaning most of the trade at this time are aroud 5460 so today if the ATP falls down significantly from here/Rises from here we can know that a downside is still ther and if if it moves higher we know that downside is arrested for now.
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