Hour TA is oversold and hence some intraday bounce may be expected after initial weaknesses which may be used to resell with the help of fibonacci calculations.
A weekly close below 4911, last week's low, will bring in the weekly downward momentum.
How do I exit may trade: It depends on which "study" you are following..? If classic TA based on Macd/ stochastics and which T/F of it..? If EW..? If just Price pattern with the help of trendlines..? If market Profile numbers..? If you are following any one of these, you'll have the answer yourself. Put forth your observations based on these above studies and I'll put forth my views on these too.
37 comments:
Good Morning Ilango Ji,
SGX Nifty trading @ 4835 with high/low of the day 4888/4816 respectively.
HSI Futures down 420 points now.
good morning,master & friends.have a nice day.:D
Master Ilango, Good morning
Good Morning Master & Friends
Trading plan for today -
Aggressive trades -
Long if stays above 4890-4910 with target of Pivot - 4964 and R1 - 5020 ( at best ).
Conservative Trades -
Add to shorts as sell on rises ( since less than DLEma - 4999 )
Notes -
Monthly trend down.
Weekly trend neutral as below 5Ema but above WLEma.
Day trend down ( sell on rises to LEma ).
EW analysis -
Has all makings of wave 5. Never know till the 80% rule is done.
But if Wave 4, then bounce from here to atleast 80% of 5168-4910 for
continuation of complex correction of 4 has to happen.
Whichever way, I am expecting a bounce from here. If Wave 5.i was
completed at 4908, then a minimum bounce of 38% of W1 is expected - 5005 -
( usually 50% - 5040 ).
Till the bounce happens, we wont know about continuation of correction.
SGX Nifty hints to 80% rule of ilango sir. This might
be Wave 5 then. How is this impulse then going to work ? Are we in iii of 5 of still in i of 5 ???
How do I exit may trade ?
I trade using 5-min T/F and exit by spotting an antenna of my shorts and inverse antenna of my longs. All my trades are intra and do not carry forward any positions overnight.
Sir,
the 5 th wave behavior will comprise of sub wave 1 2 3 4 5?
please guide on
#1 the possible time & size of 5th
# 2 on reversal identifications.
regards
Good Morning Ilango Sir and Friends
NIFTY Channel resistance: CLICK HERE
Guys... How the VIX meter doing? Panic on it...?
viz at 33.88...
Good morning Master & friends
Thank you Master and Seniors for the inputs...
Namaste Ilango Sir and fellow bloggers
LV
@ Ilango
Normally SAR moves in the same direction as Nifty. Today it is in the opposite direction. Can you explain the reason.
Thanks and regards,
LV
Good morning Sir, Hi all..
@ Bala sir, " What is spotting an antenna"
Could you please tell me I have not come across
this term. Thanks
Good morning All... golfdude if W 1orA of 5th is completed..W2 or B minimum target is 50% ret (5016)
@sudharsan,
38% is also possible. Commonly seen is 50-62%.
@ Bala..exit by spotting an antenna of my shorts and inverse antenna of my longs....what does this means... please explain for learning purpose
GM Everybody,
Big volume first trade for NS @ 4873 & @ 4876 and
for NF are @ 4881 & @ 4879 respectively @ 9.15 AM and
immediately started to trade below that trades indicates
the tug of war around those figures.
Initial actions likely to concentrate around those trades.
Let us see who will dominate in the latter trading Hrs.
Good Morning Sir and Warriors
VIX is up by 1.27 points to 35.15(3.74%)
Good morning gurudev & friends
GM sir and all :)
Mynac - thanks for the alert. hope then v may see gap 5806?? Panic october comes early??
Hi Bala
Could you pls explain what is "spotting an antenna"
Can i have your mail id, so that i could send an email regarding my few queries
K7
@Mynac
Good Morning -- Today to me it looks like the The Volume trades are buyers and may be after the first session they may take nifty higher
triple bottom is made if low is not broken
goin long sl low
sujatha ji what is 5806 typo error
Namaste ilango sir and friends,
Today's quote received :
Life is like a Flute....
It may have many holes and emptiness…
But if you work on it carefully, it can play magical melodies…..!!!!
Parminder - If i am not wrong that's a "gap" area . sir or experts comments need :)
like piyush, fire, kumar sir. confirmations from them is impt.
Sir..this question is for you.
i follow lead indicator in hourly and daily charts. now that daily has come down. would it be safe, to hold one lot for next 2 -3 days and selling and covering another lot intraday for next 2-3 days until day lead indicator comes down to 20. Is this fine sir?
New Post Done.
Dear PT bet.9.15 AM & 9.18 AM the action was
concentrated bet.4873 & 4886. So let us see whether,
it will able to cross and sustain above that 13 points band
@suja,
do u mean 3806?
Good Morning............
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