Tuesday, August 7, 2012

Nifty Intraday Update-I


67 comments:

Ilango said...

shivanGupta said...
sir how can we confirm that a particular resistance has been taken out.

By the time we get a confirmation, market would have risen much.

Based on the technical study and the evidences supporting a "particular directional move", you make your entries and play along. FII data/ OI data/ VIX are supporting this upmove.

Prabakar said...

NIFTY OPTIDX Open Interest at 10 -> CLICK HERE

NITIN KADAM said...

Support & Resistances for the day :-

Support :- 5280-5305

Resistance :- 5335-5364

Current Trend :- UP

Strategy:-

Initiate long near support area with small SL.

Happy disciplined trading to all.

Have a nice day!

sandeep said...

gm master ,dr sir n all

Hari_Hyderabad said...

@ Cooldent sir

Positive cross over seen in 60 minutes NF chart near overbought zone. Please guide - can we act upon such cross over ?

shivanGupta said...

sir are we in 3rd of vth from 5164 or something else

Sujatha said...

Sir - thanks for "hint"

Prabakar - it's worrysome for bears 5306 may hit 5336 "vida kandan" :( :P and agree with sir's "bullish target. chances are there to "cheat" also touch and "fall".. let us see.my wishful thinking is of "honey" as we arein Monthly H3 of cam need some "rest"

Om Muruga

Nilesh Patil said...

Good Morning Master & Friends

cooldent said...

Hari sir

In a trend it can stay in overbought or oversold for long time

Hari_Hyderabad said...

@ Cooldent

Thank you sir

Atharva said...

GM to Master & All

Atharva said...

Stock4sure : sir R u here??

Prabakar said...

Sujatha - i am also looking for 5336, but need to see whether 5310 holds EOD basis.
And as per market matrix 1st cycle, there is one down pending, approx next week.. as usual this is my first experimentation so need to wait n watch

CDG said...

@Ilango,

The weekly lead Indicator has not shown this kind of reversal around 44-47 in a long long time. The week chart shows clean moves for this indicator. the reversals if any are usually either around 30 or around 70 levels....

Ilango said...

If Nifty gets resisted around 5318-25 zone, do a retracement for 5272.80 to "that high". If the retrace limits to 38%-50%, then the breakout continues.

If not,

Do the retracement for 5165 to "that high" and look out for 38%-50% retrace.

shivanGupta said...

sir this is my count for vth wave
1 5270-5293
2 5293- 5273
3 5273 - 5314
4 5314- on

is it right

Unknown said...

i agree with ur last view point totally Illango

Ilango said...

@ CDG ,

After having observed the "Hour lead indicator", I'm well prepared and able to accept all kinds of possibilities..........markets are evolving.

When I threw a net around the 50 mark with a "Midpoint crisis", market would travel to 40 and then reverse big or move upto 60 and reverse down big.

These are guidelines and we need to be flexible. In this regard, a bit of EW, a bit of TT helps.

shriram said...

Morning everyone

ysdays MINIMUM tgt for Extnd sw5 (138.2%)*sw1 is done now @ 5315 vide following lables

Y.B.y.a.1 5033 5150 117 55%
Y.B.y.a.2 5150 5078 -72 -62%
Y.B.y.a.3 5078 5218 140 120%
Y.B.y.a.4 5218 5154 -64 -46%
Y.B.y.a.5 5154 5315 161 138%

Next tgt is 150% x a.1 i.e 5330

Above 5325-5330, Nifty will again enter the STATISTICAL CMP-Dev.DHiEMA RES ZONE !

have a gr8 trading day :-)

cheers

Amol Sharma said...

I am expecting retracement

Ilango said...

@ shivanGupta ,

In such small Time Frame, wave forms are quite fluid. Hence, I would not want to make any comments.

I suggest you to take the wave from the starting point of 5272.80, the last minute's low of Monday.

CDG said...

Thanks Ilango..
Unfortunately i relied too much on Week Indicator while trading the Day.
The learning is Flexibility is the key with Stoplosses...

Prabakar said...

Dear all,

out of topic, Mars pics sent by curiosity at www.nasa.gov..

shriram said...

Another Alt lable option for EW folk:

Can consider the move from 5033 as a fast ZZ in play as follows

(a) 5033 5246 213
(b) 5246 5165 -81 -38%
(c) 5165 5315 213 70%

Min C=0.618xA = 5297 is done
Next tgts : 76.4% = 5328 & 100% = 5378

But this lable suggests the wave is close to its end now....

Ilango said...

@ CDG ,

Even when you relied "too much" on the week, the price action of Nifty while the week lead indicator is at midway down, with a weekly close well above WEma should have alerted you of the underlying change.

Remember, you are playing the day but giving weightage to week. And what happened on Friday was:

Day was taking support @ DLEma and closing above DEma----screaming to buy,

while

week lost its weightage to downtrend with a close well above WEma.

sudharsan said...

Good morning Master &friends ...Master your comments on TATASTEEL pls

NEVER GIVE UP said...

good morning sir and all friends

Unknown said...

early warnings of a cross over for the downside,on an hourly basis

CDG said...

Thanks again Ilango and i cann't agree less.

the other problem is these kind of swift movements are sharp and once you miss the chance you get trapped. On Monday the huge Gap UP was the spoil sport.
Lessons learnt. thanks again. Let me wait for retraces now... Thanks

Nifty Simba said...

Ehler corona Indications....both 5280...5240 NF will be revisited for market to decide a direction..........lets wait

Unknown said...

what vengence!!!!!!

Prabakar said...

@Unknown,

Which indicator crossing over downside?

Sujatha said...

Prabakar - thanks for the off topic.. my D is interested am not :( highly vulnerable area 5300 to 5336 hope it will hit the back of 5336 and back to 260 is good to decide further

CDG said...

@Sujatha,

If your wish comes true the Nifty will hit the JNSAR in between before reaching 5260 triggering more downside as the DEMA is also that level.:)

cooldent said...

DR sir

Y BN so lazy?

Sujatha said...

CDG - am talking about Monday's gap low 5260 decesive break below only is -ve but JNSAR is little away from this na?? like last week if down comes also then move up only?? fall may come by next week???

CDG said...

Oh correct. Sorry Sujatha my mistake i read the numbers wrong and this is dangerous anyway. Thanks for correcting me..

Unknown said...

spot 5314 likely to decide fate of mrkts currently

Ilango said...

Ilango said...
If Nifty gets resisted around 5318-25 zone, do a retracement for 5272.80 to "that high". If the retrace limits to 38%-50%, then the breakout continues.

If not,

Do the retracement for 5165 to "that high" and look out for 38%-50% retrace.
August 7, 2012 10:24 AM

shriram said...

Hi STB,

did u read the murphy book finally ?? :-)

agreesive short trade is on now: if 5324 is the TOP for the day.. this move shud seek out Dev. DHiEMA @ 5273 now... burnol @ 5335 for suja amaa ;-)

Kiran said...

cooldent sir,

Because DR sir taking off today. BN taking rest right now...

Prithvi said...

I M WITH U SUJATHA FIRST @5260 WILL COME, THAN AFTER NEW RALLY EMERGING

Randhir said...

In 1960's the greatest boxer was questioned

Reporter to Muhammad Ali -- Who is your toughest competitor whom you cant even dream of beating

Muhammad Ali - My wife

Thanks

STOCK4SURE said...

possibility of a bearsih WW developing in nifty 10day charts
ns may move up towards 5330ns to form pt 5 of WW pattern and then pt 6 will trgt 5170 till thursday or friday morning

Unknown said...

another new high likely, if spot sustains 5314 now

Unknown said...

i smell amount av fireworks, once 5314 breaks decisively

CDG said...

have you notices all of the Asian Markets are flat.. Just waiting for Europe to open...

Unknown said...

weekly trendline support/res at 5314-5318 or so, as Illango said

Unknown said...

what if nifty just slides like melting butter n goes to 5228?????

Prabakar said...

it seems the lower T/F below hour are cooling off to move higher again...

sometimesbullsometimesbear said...

Sriram thx for the Murphy link, I went thro it the very day u had posted it first time. I wanted the link to be put up again for some of us who might have missed it. Must read for traders. Thx again.

shivanGupta said...

nifty forming a triangle so another high possible.

SANPOT said...

Ilango Sir, is there a Rising Wedge pattern on 30 min, 5 min and 2min chart?

chetas said...

sir,

today's morning high was 5298, and afterwords it retraced to 5282. So i am following retracement for rally from 5282 to 5324, so far taking support at 5313(23%).

I read you saying watch for retracement for 5272-high, and then 5164-high,

why not first watch for retracement of 5282-high and if 38/50% breaks, then move to 5272-high...

please clarify , where I am going wrong

Prabakar said...

@STSB,

Thanks. i was abt to ask Shriram regarding the link.

Dear Shriram,

If possible could you post the link again.

shriram said...

@ STB / Prabhakar :

Its posted as a comment @ ilango ji's Saturday post after i got STB's msg.. if u cud pls see there

Prabakar said...

Thanks Shriram, Got it.

BTW, is it downloadable?

Unknown said...

nifty still holding on to trendline for upside

Sujatha said...
This comment has been removed by the author.
Unknown said...

1st solid signs of weakness emerging

Unknown said...

is anyone seeing da momentum indicator. There's bin a solid crossover for the downside in this current hour. any suggestions????

Unknown said...

my charts r showing dat all lead indicators r pointing to a downside. RSI,ROC, MOMENTUM etc. Can anyone confirm????

Unknown said...

there is 1 thing tho. If ppl start shorting looking at a weak europe opening. mrkt will rally further i think

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