Trade Plan for 6th June 2012 As anticipated market moved towards north and made day high of 4899 after which there is a sharp correction to 4848. This follow up action of the market has clearly indicates that extracting triangle formation is taking place and as per whichWave A = 5280 - 4789 = 491Wave B = 4789 - 5020 = 231Wave C = 5020 - 4770 = 250Wave A - D = 4770 - 4808 = 38Wave B - D = 4808 - 4789 = 19Wave a - C = 4789 - 4899 = 110Wave b - C = 4899 - 4848 = 51 May be completed or it may get completed around 4835 zone and from here Wave c - C = 4848 - may travel towards 5026 and this may happen in 2 trading sessions. In case market opens gap down this target may get revised down side by 23 points ( Maximum ). The intra day chart for the Wave C is given below:CONCLUSION:Initiate long @ current level with STRICT STLP of 4847 for a target of 5026.NOTE: In case market opens gap down initiate long around 4825 with STRICT STLP of 4820. As per my understanding the possibility of market correcting below 4848 is less.
There is a death crossover i.e. 50 Day MA crossing below 200 Day MA in next 3-4 days. That combined with possible fast fall on 5/20 MA is bearish
Good Evening Ilango Sir / Blog mates,In my above posting I want to high lite the higher degree to differentiate it from their sub divisions. I am unable to do it while posting.If somebody can help me it will help for easy understanding.
Hi GE all :)Can anybody confirm Is Bank nifty spot closed with "shooting star" pattern??? PS : BIG ZERO in charts..kindly ignore if i am wrong mynac - tks for ur views agree 199% but expecting some "peanuts" if BN not cooperating.
@Sujatha, it is a spinning top candle in which there is little price action[difference between open and close]. During a rally or new highs, spinning top can be a sign that prices are loosing their momentum and bulls are in trouble and vice versa.
Good Evening AllDay 34 sma 5042today coming downday 200 sma 5075these are the crucial levelsmonth TA is bearish.day JNSAR is 4927 trend is flat.possibility if JNSAR triggers nearabout 80 pointsyield possible but if it breaks 34 smathen we can expect moreIF nifty crosses 4880 tomorrowRegards!
Dear Sujatha,On daily basis 4805 and on weekly basis 4825 are now supports there on down side and Byers have kept this cushion if it fell.So sellers would wait patiently on side lines if they want to sell (only):)...
I read each & every commentbut Mynac and Anils Analysis is superb
sujata amma:nalikee menu epidi ??idli venuma dosa venuma ?? :-)Idli : 2 30min closes < 4866Dosa : 2 30mins closes > 4866Pizza if both fail ;-P
shriramur outstanding avoid idli dosa try butter naan, butter chicken, butter scotch n anything a Punjabi loves is stars with butter fun is must but not with analysis :D
DR bhai,butter-shutter bhula dein, lets jus have scotch on the rocks ;-)cheers \_/ !
by end of this week . Maysore masala . . . Chettinad Idli . . . . Shara dal tadka . . . And sizzler . . . Sharab to ab mene choddi hain .. 4667 ana hainpata nahin kyon par ana hain
powertrade ji 4990 pehle ana chahiye , mujhe lagta hai. phir down start hoga, may be not and then possibility of 5195-5200 is also there.
DR bhai,ye suno ... if ur a synth / peti music fan, listen closely to the background music & tell me wot u notice .. :-)http://www.youtube.com/watch?v=CAlFRLyp5Vs&feature=related
kyon ki daily, weekly, monthly stochastic mujhelong karne ko kah raha hai.
who says one cannot quit cigg, whiskey n allI have successfully done it 101 times
i liked shriram ji's posts most with beautiful and saaf sutra simple analysis.
gkm223 :Dindicators traps max
@gkm223:Actually, tats been my gr8 problem since collg !! Qs wud always look simple, yet my answer paper wud always be saaf sutra ;-)
Sanpot - thank u very muchMynac - believe it or not my tomorows target is 4822/05 exactly u hv given :) but this time i am talking about future. mine is based on short term thanks a ton for your continuance guidance. Still i hv to 2 go long way PT - ye sach hai??? huh..may GOD bless bad DOW and Asia before v opens :) god is listening while typing dow was up now 12080 may god break 12K let us see Shriram - OK. done switch over to DR's receipeDR-ji - Well said (abt mynac especially) coincidentally i was thinking to 'STOP POSTING MY LEVEL" (many times i will do this but back with my figures) just like can't straighten the dog's tail :D Y?? nothing but there is a "Q" that "I am giving calls" actually i am not giving calls..nd i don't hv any intention just "my live observation during market hours" i don't want 2 hurt anybody's sentiment :) so......tomorow onwards........ let me try to .........
shriramping me u got duel core 2 I hve an idea diversion to mean
DR bhai,see ur after DLF strategic "pet-puja" 20mins time out ;-)
shriram thnxmusic cannot be explained in words
Dear D R Ji!You are in full action today, How r u TEACHER ji?
dinesh rishi sir you are in sir categories in my view, learn discipline from you, but when daily, weekly, and monthly stoch come towards 10 -20 level i always taken long an always benefited and vice versa. these type of chances are very rare and i think risk reward also favours bulls. may be i am wrong.
Dear gkm223!People sentiment is best indicator. A lot of people were asking my opinion to invest millions in stock market for long term when it was 5500. Nowadays i say to invest for long term, then they are telling me about bad story of India, poor GDP, Greece & Spain problem & their peon problems etc. etc. I consider it as best indicator, when no one is ready to buy. It can bring 200 DMA easily & may be more if follow up comes. It may come down too but risk reward favouring buyers as of now:)
kumar sir thanks for throwing some light on me.
Dear Dineshbhai,Your comment.. rather I would like to say "Comment Analysis" has given me the most required confidence as well as satisfaction..Thanks a lot...In this learning process Dear Ilango,you,mo h,Delta,San,Kumar,AAR VEE,RM,assotz,rajagopal,yoda,viren,shai,Sanjay,Sathessh,sujatha,Bala and each and every now-a-days Blogmate,reader have helped and helping me a lot...Just 3-4 years ago,I was big zero in analysis..was not aware of the single technical term,but after visiting JN due to only you people it is becoming possible..So the credit goes to entire JN Team... Thanks.
@ Mynac ,I agree with DR Sir and others , your updates analysis always helps.
For all lovers of live sufi music....listen to this young music geniushttp://www.youtube.com/watch?v=mE7dnv_jpAo&feature=relatedhave a gr8 night, cheers :-)
Dinesh Rishi said... I read each & every commentSame here Dinooo. If I am on the move and not able to keep in touch, then I read EOD late at night. Every comment teaches me something, most imp it gives me an insight into a trader's mind.Some interesting observations by "Ganesha says".Such comments have appeared on this blog so many times. I would sincerely advise u not to attempt intraday if u are not comfortable now. Pls continue with positional for some time for a few months and then start intraday when u are comfortable.Most imp B+ve yaaar. Dont B-ve. Do keep posting ur queries constructively. Thks.
Namaste Ilango Sir & Blogmates, Bearish to Neutral : The follow-up action saw Nifty sold-off from 4900 level, but still closed positive to try another day..; Option Analysis for 05-06-2012Dedicated Option Open Interest BlogDuplicated at Wordpress SiteThanks & Regards,Sanjay Kr Jaiswal
HI GOOD MORNING.....