Markets are mysterious for the simple reason that it is driven by the million mind's perception in terms of fear and greed. When you decide that you figured it out using one set of studies, it shows a contrasting reading in another set of studies.
Taking a comprehensive approach to it or simply giving more weightage to the higher T/F would help you to take advantage of the lower T/F price swings.
VIX, the fear index is trending down in a channel.
Daily TA is keeping up its closes above the trend no:(DEma) and the momentum no:(DHEma). I keep repeating this most important technical factor that only "Closing prices" impact the TA set up. This is not a rule but it works almost 90% of the time. Ignore the sideways mode as nothing works during such a mode except the supports & resistances strategy.
4820 is week pivot; 4831 was DEma - our Pre-Market buy zone and market fell right into it and bounced off towards 4885.
4910-40 the earlier cluster support is now the resistance point.
8 comments:
namaste chief,
have one question.
in your tt 5 day ema closed below sma. what it means. nifty losing momentum to up trend? kindly explain. thanks.
Dear Ilango Sir,
Seems like my comment has gone to the "Spam Baba".
Thanks & Regards
Namaste Ilango Sir & Blogmates,
Bulls are not letting the bears to have a look in; Option Analysis for 16-01-2012
Duplicated at Wordpress Site
Thanks & Regards,
Sanjay Kr Jaiswal
Sanjay bro.... thanks:)
Dear Ilango,
I am a newbie to this blog. I am very grateful to you for sharing the knowledge.
However, I observed that there are lots of abbreviations being used here. As a newbie I am finding difficulty in getting them.
I would like to know if there is any page on this blog for the full forms of these abbreviations. If not can I request to create one which can help newbies.
Thanks and regards,
Vijaya Krishna
Hi Vijaya Krishna ji,
Please go through links posted in right side of this blog `Always start trading with these' and 42 labels (links) on various topics posted in end of the page. Slowly you will be familiar with the abbrevations used in this blog. Also, I appreciate if you spend more time on the contents & views of Master Illango Sir and senior members like Dinesh Rishi Sir, Fire, Piyush, Nanjil, Mynac, Sanjay Jaiswal, Kumar Technicals, Anil. Satheesh, Harpreet and our beloved sister Sujatha. Also, don't forget to religiously follow JNSAR if you wanted to just jump in without doing your homework. Because JNSAR is `Baap' of nifty trading. All the best and seniors please excuse me if i left anyone name due to my `gajnee' mind.
Today market moved in the range of 4827 to 4880 and as anticipated it was down during the morning session. Thus b- C is completed at 4827.
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FOR CHART PLEASE REFER TO MY BLOG
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a-C = 4804 - 4899 = 95
b-C= 4899 - 4827= 72
c-C=4827 - ? Normally the target for this may be in the region of 4885 / 4920.
From the chart shown above and labeling indicated there in, I am of the opinion c- C completed at 4881. It may lead to down side correction with severe price damage. This will be confirmed if market corrects to below the level of today's low, which is 4827.
The first indication of down side will be noticed if market trade below 4835. In case market takes support at the level of 4860 then we may explore the possibility of market touching 4906.
From the above analysis, I am constrained to come to the conclusion that market is likely to correct from the current price or from the level of 4906.
CONCLUSION
Trade set up exists at current level. How ever one may decide the entry price at current level or at 4906 to short the market depending on opening price of the market. In any case the Stop Loss Price is 4910 level.
In case if market openes down side below 4860 one may have their Stop Loss Price at 4881.
Wish you Happy Trading.
Dear Jayaraman sir
Good morning I am novice to trading. And read the contents regularly in this forum. I am learning slowly. I could not understand all the technical terms. But it is very useful to read the comments of you on the technicals in direct words. One can learn the technicals slowly in the meanwhile one can earn slowly by the words of YOU. Thank you sir.
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