Retracement strategy, a must for traders.
Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor...
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I 'll always be there for you. To make you feel that you're secured. And even if the rain is pouring hard and the sky is almost dark... -
5010-5039 supply zone proved a ST resistance. 5002 proved a break down point. 4945 to 4982 proved a corrective rise, monitored with an ... -
Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor...
46 comments:
Good Morning Master & Friends
Namaste Ilango sir and all,
Nifty Day chart
Day chart
Nifty Hour chart with -ve divergence.
Nifty Hour chart
gm everyone.
Trading plan -
Aggressive -
Short at 5140 ( R1 ) with 5165 SL
Long at 5070 ( pivot ) with 5050 SL
Conservative -
Short below 5050.
Long after 5170.
Notes -
Week/Day trend is up.
Month trend is down.
Above W-JNSAR and W-J10SAR.
EW analysis -
Wave 4 back in play.
Or did we have a failed 5th - never went below 4720.
Break above 5170 will give ideas.
Takeaway -
DONT FIGHT THE TREND AND SAR VALUES.
good morning.:D
Good Morning Ilango Sir and Friends
NIFTY Analysis: CLICK HERE
Dear Ilango sir ,golfdude and Friends;
Good morning,
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When market Swings like last day Down to up...
High EMA Changed form GREEN TO RED and Red to Green..
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But JNSAR Not changed from green to red
Plz suggest/guide....As last day is concern
when to enter for Long position (for intra day)
---------------------------------------------------
Thanks
Thiru..
Good Morning and thank you Master and Seniors for all the inputs
Namaste Master Ilango and all friends
Nifty price is ruling very much above Kumo. kindly tell
us if there is any sign of fatigue, since Macd is in the
highly overbought state for last two days. Eurozone concern
is very much alive, so also possible RBI rate hike,
IIP data is poor. only silver lining is Infy numbers.
@ilango sir,
EW question - Could 5700+-4729 be a 1 wave of a 5-wave down ?
So we have wave 2.(a) going on from 4729-5100 now ? I am asking
this as Nifty and S&P follow pretty closely, and I see
counts like that coming up from some EW folks ( daneric ).
Thx
i think many people got trapped in this rally and many more are ready to get trapped by shorting at 5170, be careful and play with strict stoploss. when 90% people are trapped , market reverses its direction !!
you are right Kalyani, even i am trapped, it is very much likely
that most traders are trapped. this upsurge is due to short
covering
regards
Namaste Ilango Sir and fellow bloggers
LV
5740 to 4720 - 38% retracement is 5108 and 50% is 5230.
S&P in 8 days managed to get back to 50% retracement.
We have done 5 days from 4728 to 5110.
Good morning master and friends.
SAN i have spotted inverse head and shoulder in nifty hourly chart with neck line @ 5050 which
was broken yesterday...
can you confirm it
Namaste Ilango sir and JN Family.
Yesterday EOD there was heavy put writing at PE5100 -> 145.88% or OI addition of 17 lacs.
so based of above the support seems to be at 5100, until the reduction is seen.
Good morning all @ golfdude W4 to me looks like a complex correction..in this type of correction each section against the trend will sub divide in to 3 waves.and sections towards the trend will sub divide in to 5 waves.....and most important the final section of a complex correction will definately sub divide into 5 waves........
in most cases, when the markets exceeds the extreme of the last section,complex correction ends
MR THIRUKUMARAN ARE FROM THIRUCHENGODU
i have a nice saying that fits very well in the field of
stock market:
People who change after change, will survive;
People who change with change will succeed; &
People who initiate change will lead.
Dear Prabakar,
As per my understanding,yesterday's 5100 addition is
not good for sustainable rally from here onwards,because
yesterday, when Nifty closed below 5100,the addition,favors
seller rather than buyer.At present Bulls force is still there
but during remaining trading Hrs,if it shall slip or come
near or below 5100,it will start to favor seller.Let us see.
Dear Mynac,
Thanks for your kind Note.
To be Honest, i thought of asking your view, typed and deleted, just because, in the recent past i have not got any reply to my queries(may be silly queries).
Thanks again for your view.
Good morning guru dev & friends
DEAR SIR ILANGO,
ORB IN SELL ?SO CAN WE SELL HERE?
OR PLZ GUIDE FOR ANY WEAKNESS
ALPESH
Dear Prabakar,
As I am not available due to some other work,it is possible
but otherwise I used to try/confess my understanding most of the time.
Parimla said:
I have a nice saying that fits very well in the field of stock market:
People who change after change, will survive;
People who change with change will succeed; &
People who initiate change will lead.
I guess I am still in the first category of people even after for trying to succeed for almost 2 years now...and I wonder what makes me still keep trying?
Sir, its ur blog and the inspiration from you and seniors... otherwise I would be dead and out by now..
Mynac - thanks for your valuable views @ right time.
Praba - He may be busy like u or else definitely he will reply :)
Alpesh - Definitely sir will post apart from that, Watch "Mr.Dinish"'s announcement of "long ending" that is a good "sign for bears" :D
Dear Mynac,
The below is not from you. it is in general.
" in the recent past i have not got any reply to my queries(may be silly queries)"
Namaste ilango sir and friends,
Today's quote received :
Easy is to judge the mistakes of others,
Difficult is to recognize our own mistakes..!!!
It is easier to protect our feet with slippers than to cover the earth with carpet…!!!
Nevertheless I am sorry for the same Dear Prabakar.
even you & Dear Sanjay know it, that I take your Blog Data help everytime.
@San,
Can You send me your mail ID to yinyangfire@gmail.com? I want to send you a chart.
Sir GM
SR GM good to see you early in morning
DRji kahan ho?
SR your sensex tgts?
Good morning blogmates,
i like Kalyani's comment.
pdd.
Dear Mynac,
I am extremely sorry that I have not phrased the sentence correctly.
I always got the reply and guidance from you.
Dear all, sorry for the childish view of mine. Kindly ignore it.
Addition in OE
4800 PE- 193300
4700 PE- 116300
5200 CE - 186850
5300 CE - 64150
Above is highest open interest calls and puts.
Let's continue with market.
As of now 11% addition of OI in PE 5100 & 5200 with price reduction, may be early put writing started.
It shows that Call writing in 5200 and 5300 and
long in puts of 4700 and 4800
Above is my observation ... it may be wrong.
@Alpesh please also take Nifty spot nos. for a perfect picture of ORB break
It has come nowhere near yesterday closing whereas NF broke yesterday closing
Dear Sujatha,
The 1st Minute Big trade is also @ 5125,so if in the remaining trading hrs,if Nifty shall start to trade & stay "comfortably" above that trade then only it would start to nullify the adverse effect, mentioned earlier.The Hrly pivot is also coming closer to 5130.
The lead indicator and short term indicators are also not too favorable for immediate up move from here is the picture at this moment. So let us see.
Dear Sam,
I believe PE4700 & 4800, increase in OI and reduction in price, indicates put writing.
and CE5200 and 5300 increase in OI and Increase in price, indicates call buying.
@ Praba - hehe it's better delete that post :) simple
Bhavan - 17211/310 trading below 17024 is short time weakness. more weakness below 16963/500/453
PS : I am not in long
Dear Sujatha,
For sure it is not for Mynac, but let it be there as an outlet for me.
@Joe
In hourly charts I am looking at a possible "W" formation with resistance at 5170. I am not able to spot IHNS may be something wrong with my eyes.
New Post Done.
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