Thursday, August 2, 2012

Nifty Pre-Market View.

Trading is one of the few professions where you can deal with a "faceless and no-prejudice market". It can not be manipulated by any one or group of individuals beyond a certain measure.
You are in such a kind of profession. However, what you do day in and day out has a lot to do with who you are...and what you are..? The emotions that run through your rest of your lives will seep through your trading life too.
Do you have a habit of procrastinating...you'll do so in your trading life too with your entries/ exits and stop losses.
Do you have a habit of abusing relationships...you'll do so with your positions..your beautiful positions that promised millions would leave you penniless.
Do you give in to bullying, not stand up for what you believe in...you'll also get bullied by the market's gyrations, unable to hold your positions.
Do you give importance to values...believe in dreams and dream big or do you just give lip service to values and dream without belief...your trading life too will pass off insignificantly.
If you are disciplined enough to cherish your each and every relationships for what they are truly worth...your mother for all the love she showered on you...for your wife for standing there behind you in every one of your efforts...for your friends for believing in you despite your shortcomings...and your children who have been given to you for nurturing who depend on you and who have given you immense joy.
Do you cherish these values...do you work consciously to nurture them...do you take responsibilities for all the outcomes of your undertakings..
Do you keep your head high and walk tall in this world for having done your duties admirably to your satisfaction....not being pushed around by traditions..societies..expectations of near and dear ones but only as per your beliefs...
Then...and then only
Trading will come naturally.
What works in one aspect of your life will definitely work elsewhere.
Swami Vivekananda told the youth "to go and play football rather than sitting and reading Bhagawad Gita" to emphasise the need to have an obedient body. Without such an obedient body, you just can't achieve greatness in this "material world".
To conquer nature, to exploit its riches....conquer yourself.
Conquering starts with small acts of yours. Get on top of your affairs.
A super conscious state of mind is needed to achieve such results. And it is definitely possible by one and all.
If you jump into the river like a piece of twig, you'll be pushed around and get washed away.
But if you jump in like a fish, you'll be able to deal with the flow of river.
To deal with anything, you need to educate yourself...train yourself. And if you are already a trained person in other walks of life, you get trained in the new ones quite easily.
Take your time to set your life in order and then come back to trading with preparedness.
Develop a poise in your mind that can withstand all swings of emotions by dealing with your daily challenges/ duties responsibly, confidently.
Only a calm mind can deal with a hurricane.
Only a faithful mind can receive divinity.
Only an obedient person can become a master.
And the last word is still not written on this but revealing your mind here is the first and major step in the right direction.
Thank you for all your contributions. They are enriching.
Dear Dinesh Rishi...Our best wishes to you for a successful conclusion.

54 comments:

San said...

Good Morning Ilango Sir and Friends

Nifty Chart Analysis : CLICK HERE

Bala said...

Good Morning, Ilango Ji

ajja said...

good morning master & Prentice

ToT-Amit said...

Good Morning and Happy Raksha Bandhan, Ilango sir & dear friends.

J.R.Julius said...

Good Morning Master Mr.Illango, Master Mr.Dinesh Rishi,
Seniors & Blog-mates. Have a Prosperous Day.

J.R.Julius said...

Camarilla Key Levels
Nifty Futures
H4 5277[BUY]
H3 5267[SELL]
L3 5246[BUY]
L4 5236[SELL]

sanz said...

Good Morning Family... Master thanks for the inspiring Morning... God Bless...

bharat said...

Gud morning guru ji and blogmates

happy raksha bandhan

saravanan k said...

Good morning Ilango Sir & all blogmates.

Rgds
Saravanan

shabsaif said...

Good Morning..........................

Parimal said...

Namaste Master and all blogmates
May the Lord teach me DISCIPLINE
have a nice day

Nilesh Patil said...

Good Morning Master & Friends

Prabakar said...

Namaste Ilango Sir and JN Family

amber said...

SIR ILANGO JI GOODMORNING

cooldent said...

Sir

JNSAR value mentioned in trade table is of yesterday

SANPOT said...

Good morning Ilango Sir and blog mates.

Ilango said...

"5233"-Day Pivot...would be a opening below the channel support.

Next channel support is around 5198-5203.

Jagan said...

Namaste Ilango Sir And All.

ALBELA HOUSE said...

R/Ilango sir Namaste n Namaskaar 2 all reader's.

Hari_Hyderabad said...

Good morning master & JN family

Have a nice day !

bharat said...

Morning Ilango Sir! Feels good to be in JustNifty at 9:15 after a long time!

sometimesbullsometimesbear said...

Happy Rakhsha Bandhan to everybody. Have a nice day.

I believe there are many many many silent readers on this blog. Today is a good day to speak and share ur experiences. :):)

chetas said...

@ krantu !

NF open High same

Ilango said...

@ cooldent,

Values corrected. Thank you.

You must be having a cool and clear mind. Hence, the simplicity in your trading with discipline.

meignanavel said...

Good morning to all

SAM said...

To form right shoulder of Inverted HNS on 30 mins chart market can go down till 5170-5150...

SAM said...

5170-5150 range is also 4th wave of the current rally ... from 5050- 5250....

SAM said...

5151 is also low ema

parminder said...

Master ilango and friends,
good morning to all

Manish said...

Dear Master

What a post today !

Hats off to you for touching the Heart.

Wish you a Fruitful Day.

Swami Vivekanand has truly said "Play Football."

SAM said...

@MAster Please suggest

http://3.bp.blogspot.com/-o_P2zYtSdOc/UBn75p_VuMI/AAAAAAAAFZ0/AUwujbj2lRY/s320/Chart.png

J.R.Julius said...

Camarilla Intraday - Scenario 3
Nifty Futures
L3 5246[BUY] //For me 5256
L4 5236[SELL]

Prithvi said...

GOOD MORNING FAMILY

numchar said...

Sir ,

Great we have added spiritual angle to the trading and its worth reading and inculcating .
But the challenge is do the right thing after knowing and change the way we act ..and we fall back to earlier working mode and results are same .
Why we do what we do , while even knowing the difference between the choices ? Are we hardwired to do so ? Its always mind game of immediate pleasure vs pain avoidance .

May be a non market topic , but felt like probing .

Ilango said...

@ SAM,

It seems a 5 waves done @ 5246.
The correction for the 5 would enter, generally, minimum into the sub-wave iii end which is 5207 and in a normal bullish move, it also limits, generally within the end of sub-wave iv, which is 5154.

As long as prices stay above 21 hr sma, further sub-divisions too is possible.

The opening price action as well as yesterday's intra action, suggests of "retreat from resistance zone/ correction". One would treat it so till 5154 or 5160.

SAM said...

Thanks master for your reply

Ilango said...

@ numchar,

When one sees a "beaten path" and a road less travelled, the normal tendency is to take the easy one, the beaten path.

Though it may be wise to do so on certain occasions, we take it far into areas where "road less travelled" is to be chosen...a path that our conscience approves, a path that is difficult to undertake.

If we want to improve the quality of our life, our routine way of doing things has to change. That can come only with a paradigm shift in our way of thinking.

venkatapathy l said...

Namaste Ilango Sir and fellow bloggers

LV

Sanjay Jaiswal said...

Dear Ilango Sir & Blogmates,

Ranbaxy : A Good Bet for a month

Thanks & Regards

J.R.Julius said...

First 5 Mins Candle Seems Downside
till not breaking 5240 in Spot....

durga said...

master,good morning n all blog mates.
nice write up . fresh shower of your wisdom .thank you.

numchar said...

Thanks Sir!

With your guidance journey continues.

shiva said...

good morning,seniors..

chetas said...

@ Sanjay jaiswal,

Sir, as per the market profile chart you have posted, Yesterday VAL is at 5242, and today the open High of NF at 5248. So can we say yesterday VAL/POC rejected .

Also yesterday VAL 5242 is day before yesterday VAH 5243, so can we say 5242 -5230( yesterday low ) will act as initial support as per Market profile concept.

Prabakar said...

NIFTY OPTIDX Open Interest at 10 -> CLICK HERE

SP said...

Dear Master,
It will be unfair if you don't apply the "LifeLine" label to this premarket post. Master Please, please do that!

J.R.Julius said...

10am candle reconfirm downside
should not break 5233 in NS!

STOCK4SURE said...

TL which gave supp to ns near 5224 is giving res now to upmove

parminder said...

Master ,
Thanks for the enriching food for thought & SOUL which u provide in DAY TO DAY LIFE.
Regards
☺☺☺☺☺☺☺☺☺☺

STOCK4SURE said...

small bullish WW developing in ns charts
pt 4th formed near 5233ns
pt 5 may be formed near 5213-5218 range and then nifty may move towards 5240 near 1.00-1.30pm

sandeep said...

gm master julius sir dr sir n all.great write up

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.

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