Ilango Sir, In spite of the channel top, the OI table is reading very bullish, with significant amount of 5300 PEs and to some extent even 5400 PEs as well being added.
--> backSL popped @ 365 :-( Nifty again trading @ a statisically REVERSAL zoneCMP-Dev.DHiEMA currently > than 70 pts, gives 67% probability of DAY TOP @ this zone 5365-5395
NIFTY OPTIDX Open Interest at 2 -> CLICK HERE
this ORB breakout is sustained for 30mntsso it is not a false breakout
Surprise Punjabi Bhangrahttp://www.youtube.com/watch?v=FgjIESc6WEM&feature=related
n-s h3/h4 is @ 5371/5385and l3/l4 @ 5343/5330
Dr sirReally Surprised !
@ Pankaj,When Nifty is in an "Inching up mode", it could cling on to channel top and travel.Notice the narrow channel at the top.
Today we may see the 2.30 effect
Master any conservative short trade????????
Missing 5379 by one point.Nifty scales the previous high of 5349...and pause...for the next 5379(EOD)
Take a bow master ....
@Prakash-pol what is effect down or up?
@ Prince,Only aggressive shorts, the reason being(as shriram pointed out), weekly channel resistance connecting 6339 & 5630 and minor -ve div in Hour charts.
Ilango ji,It dint work today for me sir, 20pts was too tight a SL :-(If we close like this continually > DhIEMA, looks a buy on dips market now ...
Master thanks shorted very small quantity will short more with confidence when Master will reverse the conservative trade....
request pl donot predict cause some new hands take posn
@ Prince,It is also worthwhile to remember here that this current upmove from 5165 has had only 24 points corrections along the way.Such trades aren't risk-reward worthy.Presently, at best, one could do some intraday trades only. The flat correction from 5361 produced only 23 points in the opening session.Hence, keep the expectations low in such trades with tsl.
no short plz
@ shriram,In a trending market, the intra corrections are brief. The shallowness suggests of underlying strength.Only when the close prices signal "sell", it is likely to produce some gains. Even then there could be whipsaws in follow up.The current set up is clearly a trend up in all T/F.
ilango ji,v true... I was aware of the risk & was breaking my own rule of going against 5DEMA, actually thats y asked u first thing today morn (for some mental reassurance prolly) .In the end, objective analysis -->Fell prey to the lure of scalping , i guess :-)
even so.. just to clarify the ENTRY was SYSTEMATICHrhiEMA @ 13:00 hrs had triggered a SELL..
@ shriram,For intraday trading, I would prefer resistances/ supports better.
@sanjayjiwaiting for 2nd tgt of M&M 736. as upper bollinger band touched at 728. so can we carry rest for tomorrow for tgt of 736. what will be other tgt after 736 on positional basis. thanks.
Good afternoon! perhaps the bull coat needs a laundry wash (become dirty with high speed drive) and so better to remain dressless for now, will use that upon getting back from laundry...
@ SaptharshiBecause of profit booking area(5379) expected a 20-30 point down move. that's it.
@ ilango ji,Will commit this to memmory , now for any intra-day playsThank u for today's wisdom :-)
Though nifty slided about 30 points from day top there is no much effect in it.
NIFTY OPTIDX Open Interest at 3 -> CLICK HERE
Thanks Ilango Sir, I think after some retracement, it will go on to meet next resistance at 5440(calculated by fibonacci projection).
first time two hour lows broken
@Nileshalso, first tme hour low ema broken even for intraday, since the rally from 3rd august when prices crosses above hour low ema of 5183 at 12:40 pm, since then hour low ema was holding prices...
Nifty is all set to create shooting star on closing basis, which is mouth watering opportunity for bears. Pls verify the same with JNSAR
Has the hourly JNSAR triggered on the sell side?
hahaha..Nifty ki mahima dekhoand this was the move i was gunning for all day!!never mind, there was some learning fee paid today :-)Bye everyone, tc !
I m talking about this one...http://imageshack.us/photo/my-images/832/nifty5min1.png/
ns my tgt ia 5325
@ MASTER 5335 was resistance in previous fall its ((DHEMA + 20 )price pause near that is this good re entry for buy or wait for more correction till 5305 near ( DEMA ),,
Llango sircan i go long at 5335 now or wait for tomorrow.pls reply i m waitingthanku
gravestone doji at top of resistance. follow up required tomorrow. 5400 CE 79 lakhs open interst whereas 5400 PE only 26 lakhs.
Bulls are in for a very rude shock.......in the coming days.......
@ sandeep bhoite,A bit more down would complete a 5. I would wait.
@ Anilji : Hello!! Can I ask you one qtn???
Ilango Sir, has the expanded flat of 'c' of "B" ended at 5378 with the "C" starting down?
@Ilango Sir,Has the Hourly JNSAR triggered on sell side after breach of 5340?
Google Doogle I manage only 14 high score.is it better ?5300 PE also added very good amount of OI.
Ashok Kumar Sharma, nifty 5300PE did give a chance to pick up below 48 today, now wait for a target of 150 in just 10 trading days.
Hats off to you Ilango sir for 5379
Also how would you evaluate the gravestone doji that is forming as of now?
@ SANPOT ,Such a reversal would show in technicals as "weakening factors". No such observations are available presently.It is a ST correction only.
@ MASTER thanks for reply ,, :)
Thank you Sir.
Anilji : how to draw hema on 5tf chart , I am using SK..do we have to set 60 ema H and L on charts.. thanking you...
Ilango sir, your resistances and supports are too accurate...Hats off to you Sir.
@AtharavaSK means sharekhan na...no its not possible to draw it on tradetiger..i m using on metastock...
Closed above today's Pivot.
Moved down from 5377 to 5331. Hourly sell triggered. May be correction.Nifty needs support of the Global market to go either down or up. Now Global cues would give direction tomorrow morning.
Not reversal still no sign.
anilji : yes SK : share khan ,,I tried it just before your reply..Getting same results...thanks I liked your idea of using 60 ema on shorter TF..Thanks once again
one can get 5ema-c/h/l on SK-ANY TF
google doogle 27 score Bye have a nice time ahead !
@Atharvahow its possible on TT, plz recheck it..you cant plot hourly high-low emas on 5 min chart in TT...plz recheck it before using it that way...