Tuesday, July 17, 2012

Nifty Pre-Market View.

Breaking the channel below 5207 @ 5190 and a likely gap up gives the 5th wave scenario more credence.
To continue in the 5th wave scenario, it must:
stay above 21 hrsma @ 5236;
close above 34 hrsma and continue higher.
Retrace for the recent fall from 5349-5190 is @ 5270(50%)&5288(61.8%)
In the bearish scenario, the rally should restrict itself either @ 5288 or 5317.
The ST direction(Hour/Day) is likely to turn up & continue as long as
Nifty stays above 5236 & 5242(DEma).

46 comments:

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

Camarilla Key Levels
Nifty Futures
H4 5254[BUY]
H3 5231[SELL]
L3 5183[BUY]
L4 5160[SELL]

Rocks said...

Good morning sir and blogmates..

Have a great and fruitful day!!

Nilesh Patil said...

Good Morning Master & Friends,

saravanan k said...

Good Morning Ilango Sir & all Blogmates.

Rgds
Saravanan

J.R.Julius said...

From the Secret Scrolls
==================

When you exist in the great state of gratitude, you become a person who only wants to give. You become so grateful that it takes over your life, and you can't find enough opportunities in a day to give. You give joy, you give love, you give money, you give appreciation, you give compliments, and you give kindness. You give the best of yourself in your job, in your relationships, and to strangers.

You will know when you have really found true gratitude, because you will become a giver. One who is truly grateful cannot be anything else.

SANPOT said...

Good Morning Ilango Sir and blog mates.

Manish said...

Goodmorning to master and all JN friends

Monsoon deficit encourages investments in commodity stocks especially sugar and rice.

Wish you all Great Learning and Earning session.

Good Luck !!!

ALBELA HOUSE said...

R/Ilango sir Namaste n Namaskar 2 all reader's.

shivanGupta said...

sir how to know that gap up (like today) is to buy and no sell on rise.

amber said...

Good morning I LANGO SIR JI

Jagan said...

Namaste Ilango Sir And All.

San said...

Good Morning Ilango Sir and Friends

NIFTY Chart update: CLICK HERE

Traveller said...

Good Morning Master and all!

Gap filling day...either 5150-5190 one or 5300-5267

Parimal said...

Namaste dear Master and all friends
May the Lord give us PATIENCE
have a nice day

Prabha Gopalkrishna said...

Good Morning and thank you Master and Seniors for all the inputs and guidance.
Master the current green labeling 'a' @5258 and 'b' @5349 and 'c' which is more than 162%of 'a'..[ie which shows 'B']... can this happen...doesnt it look impulsive... Please guide me...
Thank you in advance...

venkatapathy l said...

Namaste Ilango Sir and fellow bloggers

LV

parminder said...

Master ilango and friends,
Good morning to all

sudharsan said...

Good morning Master and friends

meignanavel said...

good morning to all

Parimal said...

I make a humble appeal to all friends:
since we are supposed to sit for long gours, a lot of pressure is born by the spine. therefore we should proper care of our spine. i suggest Yoga ASANA practices on a regular practice. this will make the spine supple and strong.
it is not good to see some of our friends are suffering from spinal problems.
thanking you

shivanGupta said...

reposting
sir how to know that gap up (like today) is to buy and not sell on rise.

J.R.Julius said...

Camarilla - Scenario 2
Nifty Futures
H4 5254[BUY]
H3 5231[SELL]

Hari_Hyderabad said...

Good morning Master & JN family

Have a nice day !

gauresh59 said...

Namaste ilango sir and friends,

Today's quote received :

Silence and smile are two powerful tools.
Smile is the way to solve many problems
And silence is the way to avoid many problems.

cooldent said...

shivangupta

master said

The ST direction(Hour/Day) is likely to turn up & continue as long as Nifty stays above 5236 & 5242(DEma).

Ilango said...

@ shivanGupta,

How to know that gap up (like today) is to buy and no sell on rise?

Nifty has not moved above "5236" which is the minimum req. for bullishness to return from "Oversold Hour".

If...If & when it moves firmly above 5236-42, it may be termed as a "Rally" retracing this 5349-5190 fall.

Till then, weakness continues.

shivanGupta said...

@cooldent
sir sometime says that todays gap up was a nice opportunity to short so wanted to know how to differentiate between the two situations.

Parimal said...

@Sujata Sis
please look at the chart of Wockhardt. in the beginning of January price was 270 after a long consolidation. then it moved above 200dma. today price is 924.
despite strong up-down moves in Nifty, some stocks would hardly be influenced.

Kranti said...

Ilango Sir.. When i saw that nifty touched exactly 5236 as you had mentioned i was once again surprised by your accuracy..Can you tell me how effectively to use this 21 Hr SMA? I have earlier understood from you the significance of 34 Hr EMA/SMA and i am able to see how significant price movements below or above it.. Thanks

Parimal said...

Like Wockhardt, Ajanta and Lupin etc. have also made big strides almost doubling investment (such stocks are not for trading but for investment).
how to spot such stocks: you may visit topstockresearch.com
thanks

Hitendra said...

DR sir

BN JNSAR @ 10621 and DRSAR @10650 - assume that is for going long. Am I right?

Ilango said...

@ shivanGupta,

How to differentiate...?

By understanding how much "oversold" the index is..?

On Friday, the Day lead indicator was on the "way down towards 20 mark".

On Monday, the Day lead indicator has reached below 20 mark. But not confirmed a reversal.

Hence, For Monday's trading, it was more favourable compared to Today.

However, today too prices have shown their inability to move past 21 hr sma(5236) as it did yesterday(5248).

Till prices confirm the min. req, it should be taken as "weakness continuing" as well as a possibility of a reversal from oversold zone for which prices need to firstly sustain 5213(HLEma) & 5225(DLEma) and move past 5236(Day's high & 21 Hr sma)

Sujatha said...

GM sir and friends :)

"Parimal health care" @ Parimal :D - thank u after entered here "one and only nifty" and options. if i earn good i will keep all this in mind and sure before jump i will take ur advise. thanks for ur efforts.

PS - watch out for this month - 5190-88/217 to 267 range.. this is wat gng to happen till expiry crossover of 267 is ++ve below 188 s utter negative then and then pocketing something is good

J.R.Julius said...

First 5 Mins Candle Shows Bearishness
in Google Chart. Shaven. Waiting for
MACD confirmation or Break.

nifty rider said...

@parimal
can u suggest, how a trader turn into investor?

Ilango said...

@ Kranti,

One could read the market using averages.

OR simply read the price action at critical junctures.

On 12th July, when Nifty gapped down big, the opening hour low was 5235. That support is acting as resistance presently when Nifty gapped up from yesterday's 5197.

5235 will also coincides with 34 ema of 30 min T/F.

Use anyone average to get "results" and other numbers could be used for "part booking" or to understand gaining strength or losing momentum.

sushil said...

Good morning master and blogmates

Sujatha said...

Julius -ji - no plssssss.. am again with upward bias :( :( onceagain upmove pls.

shivanGupta said...

once again thanks sir for clearing my doubt

Parimal said...

My Dear Nifty Rider
one (trader) need not turn into an investor. one can do both simultaneously. a little portion can be invested in good stocks for medium to long term.

Traveller said...

oh Dear Lord....:(((

I just hate nifty now :((

shriram said...

Morning everyone!

EOD close > 5245 will turn 5DEMA UP

34EMA,30m @ 5237 will resist ...

30mins candles RES zone are... 5240-5247

Time to wait, for the 5-10 Bull x-over for longs or break below 5210 for High probability SHORTS (as 5DEMA is still DOWN)

cheers!

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