Tuesday, June 5, 2012

Nifty Pre-Market View

It was expected that the 5th wave would move towards 4727 in an impulsive way.
However, the sub-waves show 3 diff. possibilities.
A "3-3-3-3-3" suggests of end of 5th @ 4770.(This pattern could also be relabelled as long as 4949 is not crossed for another 3 down though TA doesn't suggest the same)
Having the pref. impulsive move, the bounce from 4770 low was expected to be a zigzag moving upto 4828. However, Nifty did not reverse from 4828 but moved above it in a "sub-dividing, impulsive fashion" suggesting a possible reversal.
I say, "possible" as NIfty needs to confirm with "follow up price action" in the days to come.
Having conquered the Hour T/F, it now moves to conquer the day T/F.
Follow the prices based on your chosen T/F.


46 comments:

Harsh Mehta said...

Good morning Master :)

Prabakar said...

Namaste Ilango Sir and JN Family

Nilesh Patil said...

Good Morning Master & Friends

Prithvi said...

Sir,

How Much Stoploss for long?

Mr. Sultan said...

Gd mg friends, kya aaj nifty 4900. Cross kregi? I think will open gapup and then it will com down

saravanan k said...

Good Morning Ilango Sir & all Blogmates.

Rgds
Saravanan

San said...

Good Morning Ilango Sir and Friends

NIFTY Month, Week and Daily charts: CLICK HERE

sachinp said...

Good Morning Master & Blogmates.

Shradha Saburi said...

Good Morning Sir and all gems of JN
todays quote
Trading Stocks is simple mathematics 2+2= 4

but our greed makes it 5 and our panic makes it 3

Feroz Ahmed Khan

dayakar said...

Pranams Gurudev.

Parimal said...

Namaste beloved Master and all friends
May the Lord grace us with integrity
have a nice profitable day

Just Huge Consistent Profits said...

Good Morning Ilango sir and friends.

Happy trading tuesday to all.

Manish said...

Dear Master and all JN friends

Goodmorning and have a great learing and earning session today.

SBI should lead the rally in BN and BN should lead the rally in Nifty.

Good Luck !!!

J.R.Julius said...

Good Morning Respected Mr.Illango, My Beloved Master Mr.Dinesh Rishi & Blog-mates, Have a Prosperous Day.

J.R.Julius said...

Camarilla Key Levels - Nifty Futures
H4 4891[BUY]
H3 4866[SELL]
L3 4815[BUY]
L4 4790[SELL]

Jagan said...

Namaste Ilango Sir And All.

NEVER GIVE UP said...

good morning sir and all friends.

Yash and Dhan said...

Good Morning Sir and all blogmates.

venkatapathy l said...

Namaste Ilango Sir and fellow bloggers

LV

Jagan said...

@Ilango Sir.
SL for Conservative trade.

prakashbkc said...

GM Master ,

Master how u identify yesterday 4790 is supoort
to book out short created on Friday?

cooldent said...

Sir

Same question as Prakshbkc. I made a fool out of myself waiting for 4730 levels :((

parminder said...

Master ilango ,
Good morning
☺☺

prakashbkc said...

JR sir,
is sell at 4866 triggered?

shivanGupta said...

sir
when hourly lead indicator moves up from below 20 mark then up move is confirmed only when price move past 35 hr ma on hourly closing basis .........sir is my understanding correct.

cooldent said...

Whats developing jnsar sir?

nifty rider said...

bears c surfing is due.for me x 5029 a 4770 b is on....

Prithvi said...

ORB Break at upside
And also master give buy signal in pre market

Ilango said...

@ cooldent,

4914.

Prabhat said...

@Master: There was a post yesterday that you are shifting to futures price as opposed to spot. Is this true? If yes, then the developing JNSAR of 4914 is spot price or futures?

Ilango said...

@ prakashbkc ,

4790 was the Pre-market's first support zone. Hence, Profit booking.

Besides, being in the 5th wave(the last move down), one should not attempt to catch the exact bottom.

On rally too, an attempt was made to "re-sell", but moving past 4828 alerted about more upsides as well as a reversal possibility.

Besides BN negated more downsides by triggering certain level indicated and it was matter of time, Nifty too should do it.

Now having moved into the Pre-market resistance zone, one should look for corrections to buy into.

"This phase is in formative stage...& still not decisive and hence fraught with risks" - handle it with care.

AimNifty said...

@prithvi,

Please read master's following sentence carefully....

I say, "possible" as NIfty needs to confirm with "follow up price action" in the days to come.

Ilango said...

@ Prabhat,

JR Julius wants to shift to NF for camarilla trading.

I continue to post NS levels only unless specified as "NF".

Nilesh said...

@ sir,

what was dlema ?

Shradha Saburi said...

looking for opportunity!

shiva said...

good morning,seniors..

Ilango said...

@ Nilesh ,

DLEma "is" 4852 and would change if lows are made for the day.

Jigar said...

@prakashbkc ,

Please stick with one system , you need to decide the time frame, if Intraday/hourly stick to HrJNSAR OR CAM but not both and if day time frame stick to DJNSAR.....if you try multiple systems at the same time it is going to be injurious to your wealth

shivanGupta said...

sir please reply my query

prakashbkc said...

Thanx Master,

Noted in diary about 5th wave downmove characterstics. As EW wave always trickey for me.

NITIN KADAM said...

Overall view for today:-

Market broken channel support 4800-4815, also broken earlier low in yesterday’s session.
But not able to sustain at lower level and bounced back towards 4850.
Now 4905-4948 levels to watch, if crossed again bulls will lead the rally towards 5000+.
If not able to cross 4875 -4905 again selling pressure is expected.

4834-4809:- Support area.( Closing below this makes bears comfortable to continue down trend.)

4875-4905:- Strong resistance. (Levels for Sell On Rise.)

Changing your sentiments as per the trend from bulls to bears or vice versa is hardest thing, but the most required for successful TRADING. TRADING game is always against human nature,

Winning our own emotions makes our way to success easier.

Current Trend: - DOWN.

Possible Movements:-


1. 4856 < = > 4875< = >4905< = > 4950< = >4977< = >4904

2. 4856 < = > 4875 < = >4834 < = > 4809 < = >4750

Two best rules for successful trading:-

1. Initiate position in the direction of trend near support & resistances.

2. Max stop loss - 30 points.

Happy disciplined trading to all.

Have a nice day!

Shradha Saburi said...

Having conquered the Hour T/F, it now moves to conquer the day T/F.
but
Now having moved into the Pre-market resistance zone, one should look for corrections to buy into.

"This phase is in formative stage...& still not decisive and hence fraught with risks" - handle it with care.
thanks a lot

NITIN KADAM said...

Trading is the best Occupation.The business of trading is risky but it offers good profits and the surest way to get RICH. The best thing about it is that trader is a free person, master of his own life. - Chanakya.

Prabakar said...

NS high volume bar @ 4880.55. For upmove, price have to move above 4880.55 and sustain above it.

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