Retracement strategy, a must for traders.
Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor...
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I 'll always be there for you. To make you feel that you're secured. And even if the rain is pouring hard and the sky is almost dark... -
5010-5039 supply zone proved a ST resistance. 5002 proved a break down point. 4945 to 4982 proved a corrective rise, monitored with an ... -
Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor...
98 comments:
Gap filling to 5288 is process
Intra bull flag tgts
T1: 5278+11 = 5289
T2: 5278+23 = 5301
Respected Master
the open and high NS at 12:00 is 5273.55
@ prakashbkc,
5266.95 was the low Nifty made after the sharp rise from 5277.25 and it is consolidating there.
5289.10 is the confirmation point for a 5 sub-waves completion.
hence, 5266 is an approximate support for a bounce. A decisive breach would continue the weakness.
@ parminder,
I see minor +div. in 9 & 14 hr rsi. And no divergences in fmacd.
@ Vishnu ,
But that high was cleared in the next 2 minute. SO it has no relevance now.
@ Vishnu ,
But in BN the open & high same @ 10005 and it has relevance.
Respected Master,
Thanks a lot for giving me more insight and how to use the same.
@ Master
channel Resistance near 5290 for this hr is best entry for Re Entry trade as a short or one can look for previous support & 5 EMA at 5315 - 5317 is area to trade for ..
thanx master for reply.
Master any suggestion for trader who have not taken any position in nifty?
@ ilango ji,
Pt @ slight divergence to imemdiate discussion...
Looking @ IM Degree Nifty 50 stocks,
FMCG & Pharma are rallying for past few months , generally these participate last in a Bull rally..
are we nearing some kind of TOP on the index @ IM Degree , sir, ur view ??
@ shriram ,
"Topping out" scenario is developing; needs confirmation/ negation/ postponement by tomorrow's close prices.
Namaste Ilango sir and all,
113% retracement of the rise from 10056 - 10640 BN SPOT achieved at 9980. This corresponds to the first target of the Leg D of the Bullish Harmonic Pattern formed in Bank Nifty.
Bank Nifty Harmonic CHART:
Click Here
BN's O & H is dragging even the Nifty down.
Master ilango,
sent u a mail with TT .
kindly guide
right sir,
and Gold & USD are moving wid high co-relation in same direction,
tat is a bit odd too :-(
Jignesh bhai,
My number is 5292 ( DLEMA - 10 points)
Raghavendra
Jiggs
Wherz the XL link of contestants
Dear Ilango,
What could be the value of daily RSI if NS ends around here or plus minus 10 points today.
@ CDG ,
It'll be @ 29.
@Master,
Can u give me lead indicators setting for hourly charts which is mentioned above chart.
DR Sir,
Jiigs bhai ka internet connection band hai.
Thanks Ilango.
If i am not wrong it was at 27.5 yesterday and if today it is at 29 then we can still expect some more points down from here. Is my correlation correct? you already has said that the support is at 5205??
Ilango ji,
Did we just finish an Xpanded Flat here
5277-5267-5278-5261 ?
an intraday chanell is forming in 5min ns
charts and is near to lower T/L at 5263
if any rise has to come for 5289-5311 has to come from here
@ CDG,
I don't read indicators in that way...numbers as well as everyday.
Read them with trendline/ divergences/ OB/OS and so on.
Compelling trades could be taken only if you are patient.
@ shriram,
It is a high possibility. If moves above 5273, strength in the ST.
Today's Low 5255 -
50 Day SMA - 5255
13 Day SMA - 5256
3 week SMA - 5257
10 Week EMA - 5256
Hi, Prithvi
The setting for hourly lead indicator is 35,3,3
Stochastic
☺☺
sir ji,
in hour tf using 5 & 21 ema,
please give guidlines for BUY signal,
similar to one given much earlier for SELL signal,
thanks
Dear Ilango Sir & Blogmates,
OI Table Update at 1:00 PM, VAL: 5297, Pivot : 5313, S1 : 5276, S2 : 5256 and VWAP : 5271.50
5300CE Writers on a rampage with addition of 66 lacs, and still not the end of it, A close above 5300 looks improbable right now...
Thanks & Regards
Kiran
Ya just rang him his laptop and desktop both down.
Any volunteer who can compile Data?
Pay heed to "Sanjay Jaiswal's OI observations".
Weak.
Right sir,
Or we cud be doing a ONE DEGREE higher Flat / expanded FLAT B as
A: 5255-5278
B: 5278-5264** in play
Depending on where B ends , above or below 5255
Would you back Contra Longs here , near Dev WkLoEMA , hoping that cud offer support 1 time , sir ?
@all
I am extremly sorry, my internet connection is not working, i am not able to update sheet.
I am really very sorry for this
DR Sir,
I am consolidating data right now.
https://docs.google.com/spreadsheet/ccc?key=0Ai2aDnYez1cHdG1MUzFKWGtUODFXSWg2TURCZ1NpTVE#gid=0
@Jignesh my expiry guess is 5219-Month 5DEma.
Friends
JN Series close contest
requires a volunteer who can compile data
grab the chance else I will avail this
opportunity
Kiran
Thanks
Plz keep it up
:D
master can we go short with sl 5289 as all input weak
@ @ shriram,
As said earlier, strength above 5273.
It must be tempting to go long since new lows are also not being made.
In normal times, such an hour set up would have resulted in a reversal. "Settlement day" tests.
Only aggressive longs(@ 5260-65) with 5255 as SL.
Kiran - pls consider my guess at 5275 (i had post a correction immediately). Thanks!
sir,
my trgt for expiry is 5285
34ema in daily charts
bouncing from chanell supp at 5261
may expect a higher high towards upper t/L
Ilango ji :-)
Ur patience is amazing. Pls excuse my asking similar sounding Qs again & again !
Thanks , cu all @ 14:00 , enjoy ur sapad :-)
Kiran
Ping me on gmail
Filled today's Gap.
expiry guess: near WLEMA 5260
@ Kiran
5302 ...coincides with DLEMA and 5300 ce/pe writers ...cherished point
regards
Kiran
Plz Ping me so I can
give you right to update original file
You can copy data from your file to original file.
Yesturday's low = today's High = 5282 so far :)
DR Sir,
Just dropped you a mail.
Kiran
Edit rights extended :D
ns at 5284 upper range of T/L in channel pattern
"5286.40" is the Hour channel resistance.
ST strength above 5286.
Kiran,
My expiry guess - 5305 above current Day LEMA.
August Nifty Expiry Guessing Contest.
The rules are simple- There are only 3.
a) Just call out the series close for august nifty future.
b) No wild guess. A reason is must. Everyboday must give a expected close figure and reason for that.
no range (4000-4050) ,only one figure e.g.4000
c) You need to do it After 9.15 and before 2.30.
Friends
Do not hesitate, give what so ever figure your
Sixth sense says.
You can be winner of this months contest.
Link to original file from Jiignesh. (Updated with Aug data)
https://docs.google.com/spreadsheet/ccc?key=0AiuEr0q3LMk2dDV4RmRQa1RqWk0wQUpvYWcxNjEzWmc#gid=8
expiry guess.
5235 - developing MHEMA
my comments are only for one person, that is mynac sir only.
Dear Jignesh,
expiry guess 5220
reason, Gap fill, near month ema and (sanjai sit warning about 5300ce, so I assume there will be big fall eod )
Expiry guess @ 5292 - closing 34 ema in 30 min T/f which would keep both bulls and bears in the game for tomorrow
My Guess for the contest: 5253.57
Reason:
Last few days NIFTY(S) is closing around DS1 or DS2 (alternatively every day).
As it closed near DS2 yesterday, I am expecting a close around DS1 today.
Dear gkm223,
It's not fair my friend...let other blogmates to learn and earn from you :)
@Ilango
At what level do you see the current bounce being restricted...10 to 20 pts above DLEMA?
If so, would that be an area for a resell?
@Master : long are for intraday basis ??
My Expiry guess 5267 - 34 Day EMA
my expiry guess is 5245 above daily support 2.
Next month oi data is also showing strenth above 5200.
i am walking away myself from now, thanks sir.
Dear Ilango,
It's also 34 DEMA too..
My Guess is 5302
Near to DLEMA
Holding WEMA
Punter would like to eat 5300 PE premium too.
NIFTY HOUR CHART:
Click Here
a day will come when master will also add gap theory in his analysis, i will be happy that day, but i will never come to this site again. thanks sir, do not need to throw me out, my self leaving.
@ Indus ,
The ST pressure will be "off" the index once this day is over. Then, the technicals & global cues would come into play.
If able to move past 5286, that would be a channel break-out and a choppy "abc" correction would unfold for 2 to 3 days.
We need to "follow" the price structure/ TT for strength and weaknesses to form a plan further on.
Sir,
An attempt to count 5's :)
Expiry Guess: 5290.5 (38% FIBO PIVOT)
lastly master's EW analysis only is amazing. i will miss it.
NEVER GIVE UP
http://2.bp.blogspot.com/-OyT3-s7MolI/UDzrHSDusLI/AAAAAAAAB6Q/afE-o-lGlYo/s1600/mouse.jpg
@ gkm223,
what happened to you ?
http://www.youtube.com/watch?v=i9ejb5FrKuI&feature=fvst
Expiry guess 5275 (30 DMA + option range high)/2
gkm223
http://www.youtube.com/watch?v=r3wZBdnamE0
--> back from Quick fire lunch :-)
Ilango ji,
Pls check these lables, Possible , B wave developing as:-
B.a.a 5255 5278 23
B.a.b 5278 5261 -17 -74%
B.a.c 5261 5287 26 113%
will morph into an impulse (1-5) once NS > 5293 (138.2%)
is that the way to go sir?
@ gkm223,
First & foremost, I do my studies well.
And lastly, I'm a very simple person outside this "Trading arena". Nothing special at all except a "Child's heart".
You are always welcome here.
My comments were meant to "reinforce" belief in our studies. When our patience is tested, we throw away even "God". What will happen to poor studies and poor me.?
Nice Nifty..
I post & in 2 mins, the impulse is OUT :-)
So , left with a possible CT or B wave as a FLAT
gkm332, master never usedthose words for you. They were for someone else.
My expiry guess 5225 CAM LL5 close after filling gap at 5216
after hitting high of 5348 on 23rd august, nifty fell below hour high ema and still struggling to close above it...
http://imageshack.us/photo/my-images/140/nifty5min1.png/
Kiran
Well done, thanks.
Satheesh: I am new though, 5 appears to be longer than 3 in both the trends. A seems to be crossing 4. I may be wrong, but expert can give right view.
New Post Done.
My expiry guess is 5291 , EW count on 5min tf .
5298 expiry guess
Expiry near @5243 support2
Likely to close just below today's pivot. That is 5302.
LV
expected nifty close 5249,
based on support/resistance
Anil..nice one
Nifty to close near 5294
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