Friday, July 27, 2012

Nifty Pre-Market View.

Our preferred view has been:
Nifty has been attempting to find a bottom in the earlier consolidation zone of 5042-96 and its daily TA is poised at a critical point where reversal or a resumption of downward momentum is possible.
Our preferred view has been one of consolidation ending @ 5042-96 (or in some extreme bearishness to 4991-61.8% retrace of 4770 to 5349 below which deeper falls likely).
EW points to extreme points to take action....Doubters have no place in such a situation.(Once a plan is in place based on the study, you must follow it if you believe in it....I can't risk your money but my studies are quite objective)
"5094", the Thursday intraday support (Now DLEma)before the break down would be a decider for the day.
A close above 5106/5113 would be preferable for a reversal signal..

53 comments:

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

Camarilla Key Levels
Nifty Futures
H4 5124[BUY]
H3 5103[SELL]
L3 5060[BUY]
L4 5038[SELL]

Bala said...

Good Morning, Ilango Ji

J.R.Julius said...

Repost for those who missed Yesterday Posts:

@Mr.Nilesh Despande,
Congrats for Expiry Predictions.

@Friends,
Once I backtested the original turtle trading
and Toby Crabel's Breakout Strategy in NS. At
that time I tracked ATR, will check my past
excel collections & will try to post in JNSAR
google groups.

July 27, 2012 1:09 AM

ATR SL Calculator

http://www.cfdcalculator.com/calculators/calc3page.aspx

July 27, 2012 1:11 AM

I have created a excel with Mr.Nilesh Despande's
Trading Idea for the observation purpose of our
JN friends. I did it in a rush. Kindly check all
the data & give your feedbacks. Me to observe it
for 1 month & try to give a live update excel
soon.

Download Excel : http://www.4shared.com/office/B64hR2Ts/Nileshji-atr.html

My Special Thanks to Mr.Nilesh Despande for his
good heart to share worthy things with us.
July 27, 2012 1:53 AM

sandeep said...

Gm to master dr, Julius sir n all wish all sucess

saravanan k said...

Dear Ilango Sir & all Blogmates.

Rgds
Saravanan

Nilesh Patil said...

Good Morning Master & Friends

Manish said...

Goodmorning to master and all JN friends

Fresh Day Fresh morning Fresh Thoughts

Wish you all a Great Learning New August Series and Bountiful of Earnings with your Efforts.

Good Luck !!!

Amol Sharma said...

Good Morning Sir and all

amber said...

SIR ILANGO JI GOODMORNING

Unknown said...

Dear Illango, It seems to me dat Nifty is a SELL
on every rise, with multiple resistences on a
daily, weekly n monthly basis. On all the 3 basis,da market is on a SELL MODE. For the past 3 months or so, nifty has been makin lower highs
n lower lows.As per current multiple supports, even though market may rally, selling at every resistence will in all probablity be da call of the day. I may be absolutely wrong, and my theories absolutely warpped, but by october this year, mrkts points more towards 4300-4500 zone. Plz comment

Prabakar said...

Namaste Ilango Sir and JN Family

sushil said...

Good moening master and blogmates

Prabakar said...

Dear Julius Sir,

Thanks for the effort and sharing the excel.

Parimal said...

Namaste Dear Master and all great friends
May the Lord keep us united so that we can prosper
have a nice day

BVREDDY said...

Dear Ilango sir & all blog mates

Good morning & Vara Lakshmi Wishes

Shradha Saburi said...

Good Morning Sir and all the GEMS OF JN
lot of THANKS J R Julius for your selfless efforts
unending interest.
regards!

shivanGupta said...

sir what should be the plan of action when we have 2% kind of gap up and previous days most TA studies showed more downward bias.

Prabha Gopalkrishna said...

Good Morning and thank you Master and Seniors for all the inputs and guidance.
Congrats to Nilesh.D and thank you for sharing your studies.
Thank you Julius for the excel file and calculator.
Thank you Jiignesh for the efforts.

NEVER GIVE UP said...

good morning sir and all friends.

Hari_Hyderabad said...

Good morning master & JN Family

Have a nice day !

sudharsan said...

Good morning master and friends...

Bhavesh said...

If nifty is not able to make high above 5169.05 today then will be having a trouble of gap in nifty weekly chart so watch for it.

BVREDDY said...

Dear all
Every person has know and follow the technicals earn money. but without knowing the technicals that time will start their bad time. Please every person first learn the technicals automaticaly get the money.

Shradha Saburi said...

Dear friends
download best charts software from the stock anal.com
and get nifty chart from that there your will find the volatality stop loss chart .(based on the ATR)it is similar to psar or jnsar use it if it is useful.
regards

Ilango said...

@ Unknown,

When Nifty resisted @ 5349 with an EW completion, we suggested a consolidation towards 5171, failing which 5042-96.

Let us see the quality of this bounce/ rally.

Nifty needs to close, atleast, above WLEma & DEma today to show some strength.

And, then, on 31st July, a close above 5173 to maintain month uptrend.

During this said period of 3 days, it needs to stay above the LEmas for such an attempt.

Weekly trend is the concern presently for bulls. Oversold daily would produce, at the least, some retracing rally ...let us observe its characteristics to understand market better.

The trend line that supported @ 4770 last time has risen to 4900-4950 zone now. Infosys has broken below such a Long term trendline.

I could also be absolutely wrong. But I believe in my studies and I'll change my view when market unfolds to a changed course.

venkatapathy l said...

Namaste Ilango Sir and fellow bloggers

LV

Jagan said...

Namaste Ilango Sir And All.

Parimal said...

Dear Mr. Julius
cannot find excel file of ATR
please help
thanks

satheesh said...

Namaste Ilango Sir and all,

Sir, Sent a mail yesterday. Check at leisure.

Nifty Day Bullish5-0 pattern completed:
Click Here

Amol Sharma said...

VIX index hit 15.91 low .

Ilango said...

@ shivanGupta ,

State objectively how the TA studies were poised yesterday....I'll reply later for the same.

Strategy now:

5100-200sma; 5094...yesterday's intra support. Go Long

Ilango said...

@ satheesh,

Thank you for the mail.

I believe, you may need arrive at a range for the next day based on the data till the day.

Some guidelines too will help. That will complete it as a "Practical study" ready for application.

Pankaj said...

Good Morning Ilango Sir and fellow blogmates!
What I learnes and observed in last 1 hour session yesterday and even today is that open interst options data is following the market and NOT leading it. The data was suggesting that 5100 will hold but it was broken. And as the market closed, the data was suggesting that 5100 would be a tough resistance, but again today morning it was broken.

meignanavel said...

good morning to all

shivanGupta said...

sir
kind of fall in last hour showed characteristics of 3rd wave as per my understanding of EW......we were OS in hourly as well as daily but close was well below WLEMA,DLEMA,HLEMA.....also we closed well below 200ma

Atharva said...

+ WW tgt achieved...

Unknown said...

Dear Illango, there have bin 2 gap down zones
5365-67, n 5247 or so. Neither have bin filled so far, n my sense is that they shud av bin filled for any decisive upmove. The 5367 gap zone has not bin filled even on a weekly basis. What does it imply??? Plz throw some light

Ilango said...

@ shivanGupta,

You are not objective enough.

Most hour indicators were displaying +ve divergence.
Most importantly, lows were being made when the oscillators were above their trigger during the oversold conditions-this indicate "stretching by the markets to shake off weak hands".

Similar set up was visible in some stocks when markets were overbought few days ago and new highs were made when oscillators were below their trigger suggesting stretching.

Unknown said...

nifty at its 1st major support @ daily 5ema @5113 or so

Ilango said...

@ Pankaj,

Market did show its hand with a huge 5000PE for Aug. series around 60 lakhs +.

Ilango said...

38% retrace for 5033 to 5131 : 5094.

Presently resisted @ 34 Hr sma.

5105-21 hr sma.

Unknown said...

at 5130, all parameters on an intraday basis, indicated mrkts virtually OB

NITIN KADAM said...

Crossing resistance @ 5150 is first major task for bulls now after giving gap-up opening.Closing Above the same will bring more strength.

Supports & Resistances for today:-

5097-5077 – Support Area
5118-5150 – Resistance area.

Current -Trend: - Turning Up.

Strategy:-
Initiate long near support area with small SL.
Possible Movements:-
1. 5118< = >5097< = > 5150< = > 5170< = > 5191

2. 5118< = >5097< = >5077< = > 5150< = > 5170< = > 5191

3. 5118< = >5097< = >5077< = > 5048 = > 5006

Happy disciplined trading to all.
Have a nice day!

parminder said...

Master ilango and friends,
Good morning to all

Yash and Dhan said...

Good Morning Sir and dear blog-mates.
I was away from market for 2 days. Went on a much needed holiday. Will catch up with the action by reading all the posts.
Nilesh Bhau tumhala congrats.

shivanGupta said...

sir one more question 1-2 days ago also most of the hourly indicators were showing positive divergence but that divergence failed so please tell what was the difference between the two situations.

AshuTej said...

Good Morning Ilango Sir,

As per medium term EW we have 2 counts open.
1.Bearish C wave, target below 4770 and invalid point 5349. Considered Wave C1=5349-5032, Wave C2=5032 to 5xxx
2.Bullish C wave, target above 5349.
Am I correct sir? If correct what is the invalid point for bullish Wave C.

How to calculate invalid point based on EW?

Regards
Ashutej

Pankaj said...

@Ilango sir,
Thanks a lot! Similarly today there is a huge addition at 5100 PEs and significant calls are being added at 5300, o i am assuming 5100 to 5300 is the current range.

Dinesh Rishi said...

Good Morning Master and copy to All

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