Wednesday, June 6, 2012

Nifty Pre-Market View.

People have fun "criticising" everything.
A doer should never ever pay any kind of attention to such naysayers.
They'll only distract you....take you away from your "work in hand".
If you need to respond to them to address their "ignorance", do so objectively.
Do this only if you have time and the intention to "show the way".
Here is an objective reminder:
Larger trend such as Month & Week are down with downward momentum.
Day trend is in a pause mode, attempting a ST reversal.
Nifty is trading below "4976-5039" strong supply zone.
"4770" is the monthly "semi-log chart's" Channel support.
But it is trading below the "Log's chart" 1st channel support, having the potential to move down to the major "920-2253" support line @ 4100-4200.(Refer the "JustNifty TA's" Monthly charts)
Hence, remember that the larger trend is DOWN and your counter trend trades should be played out for the short term only. (If you have understood it, state your "thoughts" on this using TT so that I can guide you better)
Read the Labels column to understand truly how to "Read Oscillators"- Only in a sideways market, the indicators reverse from OB to OS and vice versa. But in a down/uptrending market, they stay down or up for longer than you could imagine and the prices drop/ move up by a large %. These are better understood if you follow using a lagging & a leading oscillator. Hence, we use an Macd & a Stochastic.
In short, Know your Time frame.
Shorter the time frame, control is less, whipsaws are more, fit for the most agile few.
Longer the time frame, control is better, whipsaws are less, fit for the conservative traders.
Get Rich Slowly and Quietly.


85 comments:

San said...

Good Morning Ilango Sir and Friends

NIFTY Chart analysis: CLICK HERE

ALBELA HOUSE said...

R/ Ilango sir good morning n same 2 all reader's.

prakashbkc said...

GM Master,

In ur TT in conservative table u mention bought @4835NF on 05June but in JNSAR trade u sell @ 4875 NF .Master , Is JNSAR trade is different from Conservative trades? Means u play different trade? Also buying of 4835NF should have target of 4955(NS) & 4830 as SAR?

Nilesh Patil said...

Good Morning Master & Friends

Prabakar said...

Namaste Ilango Sir and JN Family

ITradeForProfit Daily said...

The last word "Quietly", its importance is immense.

saravanan k said...

Good Morning Ilango Sir & all Blogmates.

Rgds
Saravanan

gkm223 said...

who distracts whom, from 5136 level i am seeing the word reversal upto the level 4800 also and the the reversal will last upto 2-3 months, B would have completed and C start waiting. but those who have and follow their own mechanism can't be distracted.Aim and tgt and trading plan ......

SANPOT said...

Good Morning Sir and blog mates.

J.R.Julius said...
This comment has been removed by the author.
J.R.Julius said...

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

J.R.Julius said...

Camarilla Key Levels

Nifty Futures
H4 4877[BUY]
H3 4862[SELL]
L3 4831[BUY]
L4 4815[SELL]

VIJAY KUMAR said...

HELLO ILANGO SIR AND ALL FRIENDS
VERY GOOD MORNING
MY FIRST DAY IN CLASS
(PLEASE SUPPORT ME)

VIJAY KUMAR said...

(should i tell about me first)
I m vijay from delhi. (east delhi)
But from where should i start

Yash and Dhan said...

Good Morning Sir and all blog-mates.
Faith and intellect are related like fire and air. Fire requires air for survival. But too much of air is harmful for its existence. Nature teaches us the balancing act in its own way.
Good Morning

SANPOT said...

Ilango sir, Nifty is showing ? expanding Triangular pattern on 30 min chart, hence probality of it moving sideways to positive for some time is there. Yesterday Nifty gave a gap up opening but failed to sustain at higher levels and closed the gap which suggests lack of strength and also that the current upmove is only corrective and not impulsive because in the latter case Gaps remain for a longer time. So even if Nifty moves higher from here the trend can be choppy & the rise will be followed by corrections.
Pl correct me if wrong.

Parimal said...

Namaste beloved Master and all good friends
May the Almighty bless us !
Have a prosperous day

venkatapathy l said...

Namaste Ilango Sir and fellow bloggers

Excellent post. Thanks and regards,

LV

Rocks said...

Good morning sir and blogmates

Sir,
I have a question, if the monthly trend is down; how to play intra-month bounces? Similarly, for intra weeks.

It happened sometimes that daily prices closed above previous and current WEMA, but by the week end approaches; it came way down to below WLEMA.

Many stocks are trading below MLEMA and now knocking at the door of MLEMA. If they close daily above previous MLEMA is it time to go long for a target of MEMA?

I would appreciate your valuable observation.

Thank you

Jagan said...

Namaste Ilango Sir And All.

sushil said...

good morning master and blogmates

NEVER GIVE UP said...

good morning sir and all friends.

Manish said...

Goodmorning master and all JN friends !

Have a wonderful learning and earning session today !

Chuk chuk chuk chuk Gaddi jaayegi ajj :)

Good Luck.

sushil said...

thanks master for your pre-market view

Just Huge Consistent Profits said...

Good Morning Ilango sir and friends.

Happy trading Wednesday to all.

Jigar said...

@Vijay Kumar,

Do you see these 8 links on top right corner ? start from here :)

Always Start Trading with these
1. Trending or Sideways.?
2. Pivot, support & Resistance
3. ORB
4. Divergences + / -
5. Trade time cycle-Min/Hr/Day
6. SAR signals.
7. Trading Discipline
8. Tech. Table Reading.

Ilango said...

@ prakashbkc,

Conservative trade is based on EW/ TA Combine.

JNSAR trade is based on "SAR method", using JNSAR no.

prakashbkc said...

GM blogmates & seniors,

Master's today TT table shows some trade which is not clear to me if anyone does understand Plz kindly clarify my query which as follow
In ur TT in conservative table u mention bought @4835NF on 05June but in JNSAR trade u sell @ 4875 NF .Master , Is JNSAR trade is different from Conservative trades? Means u play different trade? Also buying of 4835NF should have target of 4955(NS) & 4830 as SAR?

parminder said...

Master ilango,
Good morning
&
Vijay Gm u should always start from the top right hand corner of this blog:
Always start trading with these:

Ilango said...

@ gkm223,

You are the one "fixated with B-wave" and getting distracted terribly and

HARPING non-stop for so many days

While

missing on other objective guidance.

EW study is one of the tool used here and I have found it to be immensely valuable when I combine it with other studies. I do not predict and I continue to state what "I see".

Prabhat said...

GM Master & all friends.

@PT: Please show your effect. Do not allow nifty to break 4900 else bulls will get booster doze.

@Sujatha ma'm: Show your magic today & make nifty close below 4838.

anmpatel said...

JNSAR hit long!!!

prakashbkc said...

Master got reply sorry for reposting

Yash and Dhan said...

First ball out of the fence.

POWERTRADE said...

Good Morning Sir and Warriors

@Prabhat

Nakko Chinta --- Scond Half Innings will be great

IamthtIam said...

Good Morning Master and All!

Ilango said...

@ Rocks ,

You must read:

http://tradeinniftyonly.blogspot.in/2011_12_25_archive.html

Your doubts should get cleared.

cooldent said...

parminder

sir has kept filter.jnsar at 4927

NITIN KADAM said...

Overall view for today:-

Market playing near TREND reversal levels, also signaling some strength on supports 4750-4800. In such situations, generally traders get excited and go against the trend but simplest way to handle such situation is keep your mind set with TREND. As Trend Is DOWN avoid longs instead Sell on rise if resisting at 4904-4926 with small SL.
Let the TA reflect TREND reversal, and then go for long.
Reversal possibility only if closing above 4950.


4926:- Fresh longs above this. (Closing Above 4950 required for confirmation to hold
Longs)

4834-4809:- Support area.( Closing below this makes bears comfortable to continue Trend.)
4905-4926:- 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. 4860 < = > 4905< = >4927< = > 4950< = >4977< = >4904

2. 4860 < = > 4905 < = >4927 < = > 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!

Prabhat said...

@master: Did the SL for 4890 short trigger. You mentioned about 20 pts filter, I have still not yet squared off with loss, still holding. What point should I think of booking loss?

parminder said...

master ,
Open and low same in nifty futures

parminder said...

Cooldent u r reading the figure for yesterday
todays jnsar is 4914

VIJAY KUMAR said...

Ilango sir r u angry with me or u dont like me. cos u never reply my question.i will try my best and to be best. but plz response me. u r a great man i know and ur heart is very kind. but i dont know why r u ignoring me .

Jigar said...

@ Vijay Kumar ,

Did you go through the links I mentioned ?

Prabhat said...

@Vijay Kumar: Kya hua? enu aytu? enna achi? why this kolaveri di? Why such questions in your mind?

Master is very busy. Sometimes he does not reply just because he is busy, he also wants us to find answers by ourselves too. So why dont you think that master likes you more & hence wants you to seek answers by yourself by the inputs you get here.

Just my small thought. Rest I will leave master to answer.

Ilango said...

@ Prabhat,

If you have seen the world cues, it was an obvious buy at the open.

Yesterday, it was clearly stated that the correction is likely to take support at the gap area,
for Nifty @ 4858-64 and
for BankNifty @ 9401.

It did and the ST is up till falls below 4848.

POWERTRADE said...

@Mynac

On Dot :) Hat's off :)

Jagan said...

@Vijay Kumar.
Ilango Sir will reply for you.he could not have noticed your comment.
Regarding EW.
First read the topics in top right side of this blog.

J.R.Julius said...

Camarilla Intraday follow-up:
Now@Scenario 4. Wait for the price action near the valid Camarilla levels.

Ilango said...

VIJAY KUMAR said...
HELLO ILANGO SIR AND ALL FRIENDS
VERY GOOD MORNING
MY FIRST DAY IN CLASS
(PLEASE SUPPORT ME)
June 6, 2012 8:42 AM
VIJAY KUMAR said...
(should i tell about me first)
I m vijay from delhi. (east delhi)
But from where should i start
June 6, 2012 8:45 AM

1st day...and lost patience already.

Unfit.

Didn't you read "Jigar's" response to you. Did you explore that "Link".

Do it now.

VIJAY KUMAR said...

no no i m kolavari bas aise hi thodi mausi hui thi but ab clear master is busy then ok

VIJAY KUMAR said...

sorrrrry sir and taking print out of these important link. and sir not lost patient i thought that u didnt read me. (abi bacha hu na isiliye maaf ker do master ji unfit mat kero mujhe)

skmishra said...

Good morning(Namaste) all!

anmpatel said...

CAUTION. unable to sustain above JNSAR!!!

shabsaif said...

Good Morning................

shiva said...

good morning,seniors..

SOBISH184 said...

sir jansar trigered? pls explain

anmpatel said...

OMG....bandar jaisi 6lang!!!

prakashbkc said...

Master,

True way to give lesson u hinted yesterday about gap filling in BN I booked/minimise Loss at 9420 in BN.
But not got enough strength to go long. In future keep this in my diary.thanx master for guidance

nifty rider said...

bulls ki toh balle balle

Jagan said...

Remainder
Sell @4955 for Conservative trade.

Jigar said...

@SOBISH184,

JNSAR for 6th June is 4914 , so yes JNSAR triggered longs.

SOBISH184 said...

im miss it morning jansar but now im add 4918 levels thanks sir which levels is stop loss 20 points............

prakashbkc said...

Master it seems nifty breaking the trendline of 5280 & 5020 in this hr swiftly .Is this indication of big move?

Prabhat said...

Govinda Govinda .... Me saying my prayers...

(running for cover from the bull meteor storm - going underground.)

VIJAY KUMAR said...

VESE JIGAR JI MY FIRST DAY IN CLASS AND NIFTY IS 70 POINT HIGH I THINK AB BAD TIME IS OVERING SPEEDLY.

parminder said...

Master ,
shall we take the retracements from 4770-5020 now when it has crossed 4913
Regards

SOBISH184 said...

after long year today im join this train .i have one problem some time im exit some chota stops sir but today im not exit chota stops hhhha........

prakashbkc said...

Master,
Also, in conservative u advice to short at 4955>the trendline of 5280 & 5020. Trendline break is called breakout as i know. what i m thinking is correct ? kindly clarify my doubt

Ilango said...

Conservative Trade: Change "Sell @ 4950" to "Part book @ 4950-75".

Reason:

If 4770 to 4899 is "a"=128 pts.
Then "c" could be 4848+129=4977(Right into supply zone).

However,

If 4770 to 4899 is "i"=128 pts,
then "iii" could be more than 128pts.

Besides R3 for the day is @ 4948.

isliye...part profit book.

jay shah said...

Dear Vijay Kumar warm welcome to this family

Ilango said...

@ parminder ,

Yes Parminder. Shift levels.

Amol Sharma said...

Today gap up 4863-4886. gap will get fill .

prashant shah said...

namstey sir and all friends...nifty and bank nifty spot hawala is....4924 aand bank nifty 9441....thanxs

prakashbkc said...

Master,
retracement of 4770-5020
4950(80%)
4924(61.8)
4895(50%)
shorting allow at now with sl of 4950?

nifty rider said...

bears dont dishearten,your chance will come may b from tomorrow onwards......

Ilango said...

@ prakashbkc,

The 5280 to 5020 channel resistance comes @ 4948-50.

shriram said...

Morning everyone , so happy to see market in green & so many green boxes early morning :-)

@ Ilango ji : EOD close > 4890 and the expanded Flat "C" gains support , needs to take out 4970 (as was said ysday c=a) to confirm !

@ Kumar ji: Sir, maza aagaya , ur words have rung in true

@ sujata: enjoy the menu ;-)

@ DR bhai : Hahhahah.... Malai maar ke :-P

Have a gr8 trading day , cheers!

Prithvi said...

Master,
Conservative trade change means,
Not a right time to sell???

STOCK4SURE said...

i guess today it may be day of higher highs and nifty may close near days high of 4955

buy on dips and booking small profits can be ideal strategy

what s seniors advice??

gkm223 said...

4951 and 4990 ns gap to be filled.

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