Wednesday, August 8, 2012

Nifty Intraday Update-I



Support & Resistances for the day :-

Support :- 5305-5280

Resistance :- 5364-5438

Current Trend :- UP ( OverBought )


Initiate long near support area with small SL.

Possible Movements:-

1. 5335< = > 5364< = >5305< = > 5401 < = > 5438

2. 5335< = > 5364< = > 5401 < = > 5438

3.5335< = > 5364< = >5305< = > 5280 < = > 5237

Happy disciplined trading to all.
Have a nice day!

Prabakar said...

NIFTY OPTIDX Open Interest at 10 -> CLICK HERE

shriram said...

Morning ilango ji,

Slightly against trend, but small doubt..

MnHiEMA, ST wave channel & LT/f UTL from 6339-5630 all crowding @ 5345-5375 area

Wud it be prudent to attempt a Intra-day short if Hr Closes < HiEMA @ say 11AM ??

Ilango said...

@ shriram,

A valid aggressive trade for intraday.

shriram said...

Right sir,

tks for the super-fast reply :-)

Manish said...

Goodmorning master

You had taught that Lead indicator can be taken as working if the nifty value is below HHEMA.

Can we go short now as per that ?

Dinesh Rishi said...

Good Morning Master and copy to All

Ilango said...

@ Manish,

For intraday trading, one needs to watch out for various set ups.

One set up that presented was the "Channel resistance". That is the place to sell for Intraday.

Trend is still up.

Prices could stay sideways and complete the correction.

There are so many strategies like ORB, pivot trading, divergences trading, etc..

Only years experience will prepare you for "choosing the appropriate strategy" for intraday.

Until then, positional trading is the best option for which we update:
Conservative trade
JNSAR trading.

Manish said...

Fine master.

Thanks and Regards Always !!!

sandeep said...

MASTER EXCLLENT REPLY TO YESTERDAYS LOSS OF CONFIDENCE-POSTED query 0n 07 aug master today U gave 2 hints sl 5316 and unwinding 5400 ce but it was to late for me. because today market at no pt of time showed weakness as per tt charts in hrly nifty opened above all pivot never came below hrly high ema Was always above 5ema so why every body was looking for weakness, so was I. Why we all were not buying instead every body was mentioning of some figure that market will show weakness and i was also doing the same from this level or this level . I asked this question to myself what master has to say pl reply cause it will GIVE US faith /RECONFIRM ARE FAITH ON CHARTS BECAUSE TODAY resistance figures when flashing on screen i went for shorting to get stopped out cause i found same for most who did not follow charts ,MASTER/AL SENIORS PL REPLY

Piyush Sharda said...

''Only years experience will prepare you for "choosing the appropriate strategy" for intraday.

Until then, positional trading is the best option for which we update:
Conservative trade
JNSAR trading.''

wah sirji. all readers of this blog shud never forget. time to time i also forget..

Atharva said...

Dear Sriramji: GM .. what would be sl for this trade..Thanking you

Arun kumar sharma said...

Dr sir good morning. I m long in bank nifty. What to do now

Hari_Hyderabad said...

Stochastic cross over seen in 60 mnts. Nf chart

shriram said...

hi atharva,

no chance to enter @ 11:00, as we closed > Hr HiEMA

If we close below < HrHiEMA @ 12:00noon, SL wud be 20 pts

Dinesh Rishi said...

Arun kumar sharma

dont know from where you picked long (10300 or today morning 10680)

If you are long from 10300 just sit tight

Nilesh Deshpande said...


Wud it be prudent to attempt a Intra-day short if Hr Closes < HiEMA @ say 11AM ??

Would appreciate if you write levels instead of HiEMA, as it becomes difficult to keep track of EMA values.


Atharva said...

@Sriramji : HO samzale..dhanyavad...

shriram said...

@ Nilesh,

Dev. HrHIEMA for 12 noon is presently @ 5350

@ atharva: maja kar :-)

anmpatel said...

last hour candle was dragon doji.....

suresh said...

sir ji,
how to arrive at tgts
based on JUST PRICE

anmpatel said...

read as dragon fly.......

Prakash-Pol said...

Good morning Master
Good morning All

Grinder Switched . Grinding till 12.30
No hourly closing below HHema. No short.

suresh said...

if n-s today's high not taken out
then expect to fall below 5338

Prakash-Pol said...


If high not taken low will be taken.Is it ?

Theory and Practical on Nifty said...

@ Suresh
if n-s today's high not taken out
then expect to fall below 5338


Prakash-Pol said...

Shriram JI
Good morning Thanks for your mail. I started to follow the systematic trading as you mentioned. Thank you so much. And now I getting confidence slowly.

suresh said...

yes : ns <5347 can touch

Sujatha said...

nilāñjana-samābhāsaṃ ravi-putraṃ yamāgrajam,
chāyā-mārtāṇḍa-saṃbhūtaṃ taṃ namāmi śanaiścaram

shhhh - today is "8th" shri'jis no. hence the sloga apart from that nothing :)

Shriram - ji - hi hi hi..nothing but remembering something of yesterday's... :D

Trading discipline/patience/self control =

1) Sir 2) DR-ji and Jai Shriram

any last digit no. is there in maths?? - that's ME :):D

Have a good day to all

anmpatel said...

though you wrote beautiful note on trading psychology in pre-market....instead of sitting tight people finding shorting opportunity.....u are really great...u can also read minds like markets.....a bow to you. thanks. after reading your note i am sitting tight with last lot..instead of shorting. thanks again. u saved me.

Prakash-Pol said...

AS per Pre-market view there was the channel resistence near 5361. One could initiate short around 9.45-9.50 am as there was 4 5min cadles struggling to move up with Mini SL.

Ilango said...

@ suresh,

If you follow "just Price", you don't calculate targets but

You follow prices with a simple trendline or channel.


Follow prices with Higher highs and higher lows in uptrend and lower high and lower low in downtrend.

sandeep said...

humble request all follow charts stop predicating because somebody will be right let chart do talking

Ilango said...

It seems to be a "Flat correction". In such a case, it would retrace towards the high again( could even make another high) and correct down.

Weakness will be below HHema/ MHEma(5350)

Dinesh Rishi said...

Ek baar 1 Train achanak patri se utar gayi,
Kheton mein idhar udhar jaane lagi aur fir wapas patri par aa gayi.

Railway walon ne driver Santa pe enquiry bithai ...
Puchha ki kya hua. . .
Santa: "Ek aadmi patri par khada tha aur hat hi nahi raha tha".

Officer to Santa :- Pagal ho kya?
1 admi ke liye tumne sare passengers ki zindagi
jokhim mein daal di?
Us 1 aadmi ko kuchal dena tha !!!"

Santa: "Main wahi to karne jaa raha tha ki achanak wo patri
se utar kar kheton mein idhar udhar bhagne laga
or fir mene b train uski taraf ghuma di

sandeep said...

now any body wants follow this is a hint

Kumar Technicals said...

Good Afternoon ILango sir & everyone!

Dear D R Ji! ROFL, lovely joke:)

Prayers, dreams & seeds are similar in nature. All these three have nothing within but have vast potential of creating everything.....

shriram said...

Dear suja:

Today is Wednesday. Lets invoke "budha"'s name thru this verse & pray he showers his blessing & guidance on us today :-)

"Devanaam ch, rushinaam ch, gurm kanchana sanibhamm,

buddhibhuootam tri-lokesham, tam namaami brihaspatim "

Badri said...

Shriram, that is for Guru[Brihaspathi]. 'Priyanku..........'

venkatapathy l said...

@ DR

Pranam Sir. What is the meaning?


shriram said...

oops.. tks badri , tats for tomo :-)

Prayer for today stands revised thus

"Priyangukalika-shaamam, roopena pratimam budham
soumyam soumya gunopetam, tam budham pranamamyaham" !

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