And for the day, Holding above 34Hr sma(5129) after having been resisted @ 5155(21 Hrsma), Nifty rallied to end the month at its high point.
No single day's action is "etched in stone" that one need to close his/her eyes after a pattern has formed (Hanging on to yesterday, you'll fail to see today)...Market evolves..flows and if you fail to read its ever flowing messages, it will be to your detriment only.
Understand the unfolding various T/F technicals and give its true weightage and each has a "Time element and price range" - Factor these into your trading strategies.
1. JustNifty TA(01st Feb) 
We have marked "two 4s": If it gets resisted around 5215-5225, 4 continues. If not, 5 unfolds towards 5275 and a larger 4 unfolds.
11 comments:
It appears to me humility is what market trying to teach. There is no single method but a wise mixture of methods that shows the way and still market is above all those methods.
Ilango sir, I must say your analysis is impeccable...
you are a guru of Nifty
Ilango sir, Won't you consider to day's close as double top pattern?
LV
Dear Sir,
Instead of uploading JustNifty file daily you can synchronize
JustNifty file on www.dropbox.com site.
The tutorial is self explanatory and free storage is 2GB
which is more than sufficient. For further help I or our
Tech Guru "SAM" will be glad to help you.
This is the great piece of information. Do keep us update with some more great information. Thanks for sharing this.....intraday tips for tomorrow
I think long term downward trend channel around 5250+ will be taken out. Lets see.
Namaste Ilango Sir & Blogmates,
Bulls took the elevator for a change :);Option Analysis for 31-01-2012
Duplicated at Wordpress Site
Thanks & Regards,
Sanjay Kr Jaiswal
Feb 5200 PE addition and FII cash figures for Month Jan very clear-cut indicates up move beyond 5225 or even up to 5275, which Dear Ilango mentioned above. But probably only the moot point would be here “how much sustainable it shall be?
If Bulls are really serious, then with the help of momentum, they would push Nifty up to weekend, even up to 5350(5200 + approx.3%) to save 5200 for next week, but fast & furious action shall be need of the hour and to strengthen their position further, from tomorrow, in the first session expecting drop, at least up to Weekly pivot (5165), and move beyond 5200 in the latter half.
One must keep in mind that Market is supreme & “if” and “But” is always harmful while trading, nevertheless let us see, while following price only.
Dear Sir,
Excellent view in premarket review. Target achieved.
every one is bullish now and hence the crash is imminent.
Pravin,
Dropbox sounds interesting - saving a lot of transfer time.
I just read that referrals give you extra Mb space on
dropbox - why don't you share your email id so you can
get a bunch of space (or if you don't need it) maybe
Ilango could benefit? http://blog.dropbox.com/?p=938
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