Friday, June 22, 2012

Nifty Pre-Market View.

NIfty returned to the 5174-85 resistances for the second time yesterday. The last one produced a fall to 5042 from 5190 (148 pts). A lesser fall would make it "consolidate" to gather strength to push through it during the "settlement week".
Bullish Green: "a or i" could be a leading diagonal fm 5042 to 5141 and "b or ii" done at 5094 yesterday and "c.1" done from 5094 to 5170.
Accordingly the correction in "c.2" should limit itself to 5122/5100. Anything beyond it, would "reject" this scenario.
Bearish red: Larger "B" from 5190 could continue in its complex way. In such a case, stuck in the range of 4995 to 5175/90. "B.a" from 5190 to 5042; "B.b" from 5042 to 5170. "B.c" may be in progress towards 5010-25 or 4985-4995. Beyond this, this too gets rejected.
Very Bearish: Only below 5010 or 4995 may be considered. 5-waves done from 4770 to 5190 with an "ending diagonal in its 5th wave".
The next "1st" wave down done from 5190 to 5042;
2nd wave done from 5042 to 5170;
3rd wave may have commenced from 5170.
Having options such as these and the retracement points for each, would prepare you to initiate trades at critical junctures with very "low risk-high reward" such as the one made yesterday.
Even for the most bearish scenario, there would be a bounce off a negative opening.

Keep the "SAR" for conservative Trade @ 5095 for the opening session 
and raise it higher for the later part of the day.


62 comments:

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 5221[BUY]
H3 5198[SELL]
L3 5150[BUY]
L4 5126[SELL]

Just Huge Consistent Profits said...

Good Morning Ilango sir and friends.

Happy Trading Friday to all.

Good Luck.

Just Huge Consistent Profits said...

Good Morning Ilango sir and friends.

Happy Trading Friday to all.

Good Luck.

Nilesh Patil said...

Good Morning Master & Friends

Rocks said...

Good morning sir and fellow blogmates..

Have a great day ahead~~

veer said...

@Ilango

Thanks for the lucid explanation of various EW scenarios. Easy to learn EW step by step.

regards,

Veer

saravanan k said...

Good Morning Ilango Sir & all Blogmates.

Rgds
Saravanan

ALBELA HOUSE said...

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

San said...

Good Morning Ilango Sir and Friends

Nifty chart analysis: CLICK HERE

BHARAKHADA VAIBHAV said...

Good Morning to LLango Sir and all blog Friends

Prabakar said...

Namaste Ilango Sir and JN Family

Parimal said...

Namaste beloved Master and all friends
May the Lord bless us with PATIENCE
have a nice day of trading

Yash and Dhan said...

Good Morning Sir and blog-mates.
Have a great trading day.

Shradha Saburi said...

good morning Sir and all the gems of JN
Jayaramanji good Evening
As it is observed (it does not have any proof)
past JNSAR J10 SAR crossing, whenever J10 sar
below JNSAR market trend remains down and vice versa
at the trend exhaustion this crossover takes place
and market becomes more volatile.
May 20,2012 7:53PM

cooldent said...

goodmorning PT :)

Kiran said...

"Moody Downgraded 15 Major Global Banks".
Isn't that good for our Commercial Banks. Big clients might shift from those biggie names to our Local banks...

Isn't that positive for our BankNifty.

Dinesh Rishi said...

Good Morning Master and Copy to All

Cooldent cheating party changed?

Jagan said...

Namste Ilango Sir and All.

Hari_Hyderabad said...

Good morning Master & JN family

cooldent said...

DR sir

Not yet. But thank god i clapped yesterday :)

venkatapathy l said...

Namaste Ilango Sir and fellow bloggers

LV

meignanavel said...

good morning sir and all blogmates

POWERTRADE said...

Dollar is looking hot for 60

Prithvi said...

Good Morning Family

sushil said...

Good morning master and blogmates

J.R.Julius said...

Quote of the Day:
Always See Good Things.
Always Hear Good Things.
Always Talk Good Things.
Always Think Good Things.

If something Give Bad/negative emotions
in your Mind Stay-away from such
Persons,things etc.

shiva said...

good morning,seniors..

parminder said...

Master ilango and DR sir,
Good Morning

J.R.Julius said...

Camarilla Intraday - Trade1
Nifty Futures
L3 5150[BUY]
L4 5126[SELL]
20 Points Stoploss.
Personal Decision Advised.

parminder said...

Nifty futures open and low same
5110

Nilesh Patil said...

@DR sir,
Your BNSAR is with filter today? Means 9940-50=9890 or only 9940?

NEVER GIVE UP said...

good morning sir and all friends,

Sujatha said...

Goodmorning sir and everybody :)

Julius - in other words 'Gandhiji's 3 monkeys" :D

Cooldent - mm..me too clapped yesterday itself actually i was expecting 176/94 levels suddently a wild guess splashed previous high 5189 then again if suppose touch 5180 level means then double head for short term??? now too clapped at the opening watching BN's reaction with my "mayan" :)

J.R.Julius said...

@Sujatha Sister,
Good Morning - Have a Nice day.
Here extra one monkey.
The 4th Monkey - Thinking.

Dinesh Rishi said...

Nilesh Patil

Friday, June 22, 2012

BN, in minor consolidation channel, has some minor corrections left as long as it holds above 9820.

Author: Ilango | Posted at: 6:40 AM

Prithvi said...

ORB HIGH: 5135.50
ORB LOW : 5097.75

ORB BROKEN UPSIDE

shabsaif said...

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

Sujatha said...

Julius - thanks for ur wishes. 5th monkey is reading your post :)

BSE site is giving problem from monday any alternative site for viewing sensex???

Kumar Technicals said...

Good Morning ILango Sir & everyone!

Dollor-INR is not going anywhere above 57.25, Tabhayi only a close above 57.25. Its looking another trap, bears may be happy if Nifty sustain below 5090 either weekly closing will make its path at own:)

Hemant Harke said...

@Ilango Sir,

Bullish Green ("c.2" should limit itself to 5122/5100)
Nifty opened around 5097.75
can we consider above scenario rejected??
Thanks

Mr. Sultan said...

May i short or sell? Confuse

Dinesh Rishi said...

Aaj kuch toofani karety hai



http://3.bp.blogspot.com/-4uvqgYKNs3A/T9Xv_t5DQuI/AAAAAAAAA0w/DazyRgPG-R0/s1600/aaj+kuch+tufani+karte+hai.jpg

Mr. Sultan said...

Sorry short or buy ? Below cam level 5144 spot or abov 5 dema 5122 wht should i do? Illango sirji julias rishi suggest me

Amol Sharma said...

@ Mr. Sultan

What is your Question ??

Please Read pre-market view and take your trade as per plan.

GaneshaSays said...

Uncle Sam closing big downmove, rupee crushing to new low, FII negative numbers, Friday syndrome, all these reasons good enough to pull down nifty to big downmove today. The people get hesitant to short bcz they saw sharp move towards closing yesterday but forget to see bigger picture that nifty made a new lower high yesterday (5189.95 is the previous high) so definitely big correction will happen!

NITIN KADAM said...

Nifty gaped down due to negative clues from world market. Now attempting to fill the gap , Hourly closing above 5136 makes bulls comfortable to next resistances 5168-5217. Unable to do so, Bears try to attack & break support area 5095-5065.

Supports & Resistances for today:-

5136-5168 – Resistance.

5095-5065 - Support area.

Current Trend: - UP, But Weak Global clues & selling pressure.

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!

J.R.Julius said...

@Mr.Sultan,
Don't BUY or SELL.
Paper trade the levels till you
don't have questions.

CDG said...

Good Morning Bears and Bulls

Jigar said...

@Ilango sir ,

I am also having same question as hemant . Opened at 5097 , should we reject c.2 scenario OR it is still valid ?

Mr. Sultan said...

Actually illango sir mention 5 dema 5122 or cam level5144 abov this bulls or beliw short n abov 5 dema bull or below short so wht i do? Short or buy??

jagannathan said...

You can view sensex in calloptionpuroption.com/select livechart and select sensex

parminder said...

Hi sultan sir u should buy above 5dema wit a reasonable stoploss below yesterday low
i.e 5090

SANPOT said...

Good Morning Ilango sir and blog mates.
Nifty needs to cross 5190 for further upmove. Bank Nifty has again reached the pre RBI policy levels and had a steep fall after the policy which again indicates that events dont affect the prices and has only a temporary effect.
Now strength is also seen in Mid caps and small caps indicating positivity.
Both the upper and lower Bollinger Bands have turned up and nifty is now trading in the upper half of this range indicating posivity in the medium term. Close above 5190 can push Nifty towards 5300 to 5450 levels.
Any move below 5090 will suggest correction is still ongoing.

parminder said...

Dr SAAb ,
Am i right
regards

Shradha Saburi said...
This comment has been removed by the author.
Shradha Saburi said...

@ Nitin Kadam
yes I agree with you!
regards!

Mr. Sultan said...

Thnk u dosto dua me yaad rakho

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