Thursday, August 2, 2012

Nifty Intraday Update-I


66 comments:

CDG said...

@Ilango,
there are 2 days left for the week to end. The lead indicator for Week is sliding down and the trend of week is already down. In addition lead indicator for the day is high up in the overbought region.
Thus isn't it a high possiblity that the week try to asserts it self from these regions (or at least from R1 of the day 5254). The rising wedge posted in this update also hint towards that.....

Atharva said...

GM Master & All

Master one qtn how to set SL for re bought trades any guidance on same?

Do we keep SL for these based on support resistance/ pivot pts
Thanking you

J.R.Julius said...

Good Morning Mr.Sandeep
Have a Nice Day

J.R.Julius said...

Nifty Spot - Gann Sq9 - SUP/RES
RES: 5238-5256-5274-5293
SUP: 5220-5202-5184-5166

Sujatha said...

A child on a farm sees a plane flying over head
'n Dreams of flying.. But pilot on the plane sees the farm house 'n Dreams of returning home..!! Thats life.!!

Goodmorning sir and all :)

Prabakar - FED drawn Blank.. ECB too today??? final punch on tonight or tomorrow!! so today is 'flat grinding day??? or little up" that's all? Shri-ji will give "late reaction" it seems he is busy it seems :D :)

Atharva said...

Master I have been able to find out the reentry in the direction of JNSAR trade..but lack confidence to initiate since not sure about how to place SL for these trade..

Thanking you

shriram said...

Morning everyone !

@ Ilango ji: supr post, saved to my hard disk, tks :-)

ST FIR filter (SMA) analysis suggests we are in a corrective CYCLIC phase right from 5246, with a Sinusoidal mean @ 5233 & Peak-Peak diff = 27 odd pts

This makes one lean towards an EW count for this wave as the 4th sub-frac (sw4) starting DOWN from 5246 (since sw2 = 5150-5077 was deep & a ZZ), sw4 will most likely b a SHALLOW FLAT or a COMBO.

Rev lables for 5fifer from 5033 proposed thus:
Y.B.y.a.1 5033 5150 117
Y.B.y.a.2 5150 5078 -72 -62%
Y.B.y.a.3 5078 5246 168 144% ** DONE ysday ?

Y.B.y.a.4 5246 5206.352 -39.648 -24%


So far so good, If this assessment is accurate we will grind in a 30 -40 pts range , before breaking out > 5263-5275 decisively to finish a.5

Pls check if this can be so , first of all is it sensible on my part to "guess" like this , sir ?? :-)


--> Dear Suja / Smita : My best wishes to you on Rakhi Poornima. May God Bless you with health, wealth, peace & prosperity! Keep smiling :-)

suresh said...

julius ji.
pl elaborate 5240 ?

J.R.Julius said...

Anyone related to Metapsychics please send me
a test mail.

sanjay said...

Gud morning sir and blog masters.
Thank you sir. I wish to learn many more things from you.We all like your presence in our JN family thanks again.

suresh said...

julius ji,
how do u interpretate GS9?

NITIN KADAM said...

Crossing the resistance level 5244-5274 with closing atleast above 5244 is ideal requirement for this up trend to continue.Breaking below 5214 would bring it down to next support 5190-5200. Unable to protect the same would bring more weakness.

Support & Resistances for the day :-

Support :- 5190-5214

Resistance :- 5244-5274

Current Trend :- UP

Strategy:-

Initiate long near support area with small SL.

Possible Movements:-

1. 5215< = >5244< = >5215-5190< = > 5274< = > 5347

2. 5215< = >5244< = >5190< = > 5168 < = > 5148< = > 5118

Happy disciplined trading to all.

Have a nice day!

Yash and Dhan said...

Good morning Sir and dear blog mates.
One of the most amazing posts that I have read today. Thank you for keeping us on our toes.

Ilango said...

@ CDG ,

Very valid observations.

The mid week has shown the resistances from 5235 onwards as suggested-5235-5280.

80% of 5349 to 5033 is @ 5286.

Aggressive traders, as suggested yesterday, would sell in those areas based on your observations.

Others would follow their chosen studies.

Afterall, we aren't Nostradamus.

We play the probabilities. The only criteria for success here is it should be objective and non-biased. At certain junctures, market provides objective unbiased views for both bulls and bears in equal measure. Those are "dice-like" situations.

Whatever you choose, look out for price confirmations once an aggressive trade is done while having the SL in place.

Ilango said...

I informed my critic that a 5-waves are about to be done in RELINFRA around 516. It did @ 516.30 and is falling.

If bullish, its correction should limit to 501-504.

Prabakar said...

Sujatha - yes. ShriJi sent a SMS that he just left to ECB meeting.... :)
And as a chlidish step towards market matrix 1 cycle of full moon, tomorrow may possibly be a gap down.. not sure.. waiting for first time to see whether it happens...

satheesh said...
This comment has been removed by the author.
bharat said...

@Ilango Sir - There's one thing that I have noticed.. Whenever the Monthly close is above the Month JNSAR AND a big move (up!) is expected, the market usually retraces back to somewhere around the monthly JNSAR(of last month) and gives a huge rally...
Just an observation...

Abhi said...

Sir, how do you understand the end of a wave, specially 5th. Do you use other studies like trendline, TA table or is it just from the experience ? Overbought or oversold dont indicate it, right ?

Atharva said...

HNS in 15 tf in NF...trading @ NL..seniors kindly confirm ..

satheesh said...

Namaste Ilango sir and all,

Sir a Master piece write-up. After reading it I was reminded of "KRISHNAVATARA - by K.M Munshi" -
In that book Munshiji would have written about what is DHARMA. In that chapter KRISHNA says and feels - "WHAT YOU FEEL-YOU ARE THE SAME" - and it goes by without saying that you would get the SAME!!!

I felt like reading an extract of that chapter after reading your write-up.

Thanks again for your Master Piece.

Crorepathi said...

Beautiful Sir, I am definitely sure many of them will not able to digest today's post, they will learn in hard way or will quit trading.I would done the same when I started

gkm223 said...

is nifty developing inverse H&S??

satheesh said...

NIFTY Hour RIsing WEDGE - Broken???
Click Here

SAM said...

@Abhi

With whatever little knowledge i have ...

After steep 3rd wave ... 5th wave will take form of ending diagonal .... and 2nd clue is ease of movement.... Market generally find it difficult to push to new highs.... Because of ob conditions and in technical indiacators.

Please correct me if i am wrong

Atharva said...

Master awaiting your guidance on my earlier post for re entry trade..

Thanking you

Fire said...

Master,

After a long time, I read something on Trading which made me sit up & notice. Today's Pre-market write-up is so very profound, that I took a print-out & distributed copies in my office (of course, I read it thrice myself first).

I have also felt that one's approach to life & that to trading are intertwined. But not before reading your post today, it became so clear.

I would be greatly obliged, if you grant me permission to reproduce it in my blog.

Ilango said...

@ Atharva,

SL for re-entries should continue to remain @ 20 points and become flexible only if critical averages/ trendlines are present to warrant a revision.

Ilango said...

@ FIRE,

Last word is not written on it.

So much frustration/ helplessness when I read the plight of some of our readers who rush into the market in pursuit of jackpots/ riches without a basic "Preparedness".

Spread the word, if you are convinced.

sandeep said...

sir now u would also undersatand u r simply noble,great human being i would definately inform others

parminder said...

Master ilango,
Sent u a mail kindly check at ur convenience and guide.
Thanks & Regards always
☺☺

NEVER GIVE UP said...

good morning sir and all friends.

Parimal said...

Thank you Master for enlightening,
true, we may not like to see trading completely isolated from our basic human traits of greed etc. and developed/developing attitude, our value system and also (most importantly) our cherished world-view (how do we perceive the unfolding of life as a process generally known as evolution). i wonder, are you not actually highlighting core issue of self-evolution or inner evolvement ? i hope you are.
thanks again and again

STOCK4SURE said...

ns at 200ma supp in 5min charts

Sujatha said...

I have sent "one post" to JN GOOGLE GROUP..Please look into that..

whenever i am in problem or facing difficulty simply - will do repeat the mailings of Sir's after today's pre-market view now i am reading 2 year old mails and all which are my "treasure"

regds

parminder said...

Master thanks for the reply bt my presentation is not upto the mark bt u can draw and see.
Thanks and regards

satheesh said...

Bank Nifty Rising wedge broken??? The Move within the Rising wedge is resisted by the TRENDLINE

NIFTY DAY HARMONIC CHART:
Click Here

satheesh said...

** TYPO read the above chart as Bank Nifty Hour CHART Rising Wedge :)

Ilango said...

@ Abhi,

If you want to identify waves in its purest form, it should appear to you the "most obvious one" at the first look....in a flash, before our dear egotistic mind comes in to lord over us. You have lost it then.

I just saw the "google's 5-min chart of last 3 days of Relinfra" and it just stared back at me with a vertical 5th wave in progress.

For intraday...you rely on your experience.

For larger T/F, you could use other studies, trendlines, etc minus our opinions based on half truth dished out by various sources.

ELECTROCRAFT SYSTEMS said...

Bear call spread... Sell CE5300 @ 55/- and hedge it by Buying CE5500 @ 11.5/- and pocket premium around 47/- . if Nifty goes above 5350 close sell CE5300 and keep buy CE5500. This is in anticipation that Nifty will not go above 5300 this expiry.

Ilango said...

@ 21 Hr sma/ 2nd channel support..

CDG said...

5210-11 (0.38% of rise 5154 to 5246) holds as of now.

satheesh said...

Yesterday Bank Nifty Bounced from JNSAR. Now it is near JNSAR - BOUNCE or SHORT???

shriram said...

Recalib for 12:00noon

Hr TA:
5-10HrEMA will give a BEAR x-over if close < 5200

Day TA:
Dev. 5DEMA will turn DOWN if close < 5190

STOCK4SURE said...

5200pe have more O.I than 5200ce
but addition in ce is more today than pe

does it indicative of some more grinding time in 5200-5240 range

Ilango said...

Is there any problem with "google charts" today...?

Natti said...

No problem with google charts

Prakash-Pol said...

Good Noon Master
Nifty taking support at 21 Hs sma -5210

Renju S said...

Yes there is some problem...@ times it says 5217 (-23) and stays there...

shiva said...

yes,sir google chart not updating from range
5214.7-5236.90.

Natti said...

Yes there is some problem

jagannathan said...

yes there is a problem in google chart

Abhi said...

yes Sir, google chart not updating

J.R.Julius said...

@Mr.Illango,
Yes Sir - 2 Mins working - 5 Mins stopped@10.50am
candle.

Renju S said...

and candles are also not getting refreshed...

Sujatha said...

shriram ji - thank u very much for your wishes..sorry missed ur post

satheesh - May JNSAR - hit aye namah!!! pls. post the JNSAR BNF pls. tks n advance

kapil said...

price is live chart stuck from 10 58 in google

J.R.Julius said...

2 mins also stopped@10.58

Nilesh Patil said...

Yes Master. I also found problem in google chart.

Prithvi said...

yes sir,
Google chart is not work properly.

Prithvi said...

Can anybody have yahoo finance link??

if yes ,please send

Thanks regards

Ilango said...

Thank you.

New Post Done.

Nilesh Patil said...

Sujatha Sis,
Bn jnsar is 10313.

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