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...
18 comments:
This is just an observation.
I see some similarity between today's movement and July 9th. If this continues, tomorrow it may revisit the high again and then start falling from Wednesday.
Similarity includes:
1) Both today and July 9th are monday.
2) On both days, day candle was having Weekly-S1 at the close and Weekly-Pivot as open.
3) In day-chart, PSAR turned to Sell today and on July 9th.
4) ..
Based on these, I have the feel that tomorrow we may have flat open and move up to 5459(Fut)~WR1.
(I am not an expert. Just sharing my observation.)
Thanks to Ilango Sir. Today I gained some points because of JNSAR.
Down move from 5449 appears to be complete as a fifer as
Sw 1 5448.45 - 5394 = 54.45
Sw 2 5394 - 5421.15 = 27.15
Sw 3 5421.15 - 5371.35 = 49.80
Sw 4 5371.35 - 5399.10 = 27.75
Sw 5 5399.10 - 5346.65 = 52.45
Now tomorrow an upmove upto at least 5501 may begin
Good Evening Ilango Sir, today FII'S net buying in cash is 200.39cr while the DII'S have sold 500.72 cr in cash.
FII'S Derivative Statistics
Bought 383.40 cr worth in Index Fut and 52 cr in Stock Options.
Sold 438.50 cr worth of Index Options and 550.60 of Stock Fut.
Thanks and Regards
Namaste Ilango Sir & Blogmates,
(Neutral: So Bears ultimately made good inroads with 5400 level taken over with authority and the Bulls giving up hope....; Option Analysis for 27-08-2012
Dedicated Option Open Interest Blog
Duplicated at Wordpress Site
Thanks & Regards,
Sanjay Kr Jaiswal
@Theory and Practical on Nifty,
There are 3 rules and about 50 guidelines in EW theory- All the guidelines need not be followed but All the rules has to be followed.
Your count ignores rule 2,"Wave 3 cannot be the shortest"
Waves Waves Waves
Page 31 Robert precher book
W3 is often longest and never the shortest ........................As long as W3 undergoes a greater% movement than 1or 5 this rule is satisfied.
Beckman P121 para 2 says
if neither w1 or w3 of the cycle had become extended, than ........5w extension
& pg 117 second last para last line
@seniors,
As per "Theory and practicals" wave count, his wave 3 is 49.80 points, wheras his waves 2 and 4 are 27 points each. Still all are saying his wave count is wrong as wave 3 can never be the shortest.
I fail to understand how 49.80 is shorter than 27.
Kindly enlighten
Thanks for the knowledge but here I am taking it as flat as 4 entered 1
Does the rule apply ?
@ITfPD
Please compare 1, 3 & 5 against each other and not with 2 & 4 they are corrective waves
Please call me TPN for convenience
thAnks and regards
from the low of 5034..C[3]ended on 5462..we are in D[4]...
@TPN,
Thanks for the enlightenment. Sincerely, i never realised that waves going in same direction need to be compared.
One more point learned today.
stock4 - BN (future) 206 crack may hit 162/151 level protection of 206 = 268/283 nd will give the same 330 (as per me)
August 27, 2012 1:58 PM
anybody took this view??? - hit 161. bounce may expect @ 151/120 levels. this is applicable upto this expiry. break of 122 will give good downslide. bounce from 120 = will touch 206/225/68 ++
Bye
@ Day TA : 5DEMA is trending down...and finally 5345 , a Day Candle zone supported today
Higher Wk TA supports come in @ 5317 (candle) / 5325 (Dev 5WkEMA) / 5260 (Prev GAP)
These shud offer 1 time support @ minimum to this fall...
Bears will rejoice once 5313 is taken out (dev 5WkEMA will turn down)
Summary: 5DEMA says Sell on Rallies @ Resistances 5373-5387, for high probability gains :-)
Contra bulls can try to buy @ supports: 5325-5317/5292, for intra longs
goodnight
Hi to all blog mates,
Ilango Sir & all other Blogmates are doing wounder full research.Good to be here.
Dear Shriram,Nilesh and all my JN Friends...
Very good eve...
As told earlier, due to job responsibilities, still not getting, that much sufficient time for market activity/participation.Nevertheless,trying to resolve this problem soon....let us see...
Shriram,
Read your yesterday's analysis/observation...it was to the point and proved correct... congrats...
Nilesh,read your comment today. Me also, missing you and everybody from here...
And now over to market...
It will be too early to say so, nevertheless, Expecting expiry below 5300, as it has broken JNSAR with good margin... and whenever Nifty used to close below JNSAR after good run up, then it used to give at least 100 points in that downward direction is one observation i.e 5380-100=5280 and In worst case scenario, it has potential to show even 5240,which is strong weekly support,is feeling, as well as today’s writing has retained Sep 5200 PE’s highest written PE position.
Aug NF O.I.still 2.35 CR would prove headache for Bulls when they will come to liquidate their positions from tomorrow and Nifty has least chances to give firm close above 5400 up to expiry. So let us see... GN
Good morning Family,
Ya nice ..
In this way Nifty alert by some of the brokering firms plays a imp. role..so keep updated by latest updated nifty alert..
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