Monday, October 22, 2012

Nifty Pre-Market View.

Friday's preMarket's close confirmed a correction unfolding;
Nifty held 5674 for a while and bounced to 5697.
Had it been the 5th wave, it should have held 5674(as5."ii"); hence we observed that a break of 5680(80% of 5674-5697) would negate 5th wave.
During corrective phase, identified when the prices closed below DHEma , one need to trade using the supports and resistances.
There is a huge difference between "Knowing something" and "applying the knowledge". Let your aim be one of "making money".
Nifty had a false break-out & made a high @ 5722 and has retreated into the triangle channel again. There are supports @ 5650 & 5635.
For the day: A new low below 5660 would indicate a 5 waves down from 5722 and a retracing bounce is likely - meek or firm, do the retracement table. 80% of the last rise from 5634 to 5722 comes @ 5652.
Hence, below 5652 & 5633 more lows likely.
Similarly keep a retrace levels ready for the 5722 to the opening lows for any reversal possibility.
"Sell on rises continues below Friday's high.


Nilesh Patil said...

Good Morning Master & Friends

Bala said...

Good Morning, Ilango Ji

Bhushan said...

Good Morning Gurudev and friends
Jai jai Mahagauri maa

Shradha Saburi said...

Good Morning Sir and all the gems of JN
Sir has given us beautiful quote today that
There is a huge difference between "Knowing something" and "applying the knowledge".
there is difference between the knowing the JNSAR and applying it.
today again another correction stated that is weekly correction
week J10 SAR has crossed the week JNSAR and week sentiments became neutral.
correction range may increase from 5640 to 5740
to 5450 to 6000
market is with mixed feelings

Nilesh Patil said...

Thank You for updating Stocks Ta files

SGRaman said...

Sir, Good morning.
In the last row of log table, I think, colour should be changed to red.

Manish said...

Dear master DR ji and all JN friends

Goodmorning and have a fruitful earning and learning session today.

Well said by master to calculate the retracements from morning lows today to know the start of iii of the impulse down and fulfill your objective.

amber said...

Sir Ilango ji and every one good morning

San said...

Good Morning Ilango Sir and Friends


DZIRE said...

Namaste Ilango Sir & all members.


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

Parimal said...

Namaste Dear Sir and all friends
have a nice trading day
nice to see you back here my Dear Shraddha Saburi

Suraj said...

Good Morning Ilango Sir & JN Friends

Shradha Saburi said...

Dear Parimalji
Its so nice of you!
I am always in Market and will never out of it!!
Many Many regards!!!

Hari said...

Good morning master & JN family

Have a nice day !

anmpatel said...

Good morning all,
todays HA open value is 5686,
this week open value is 5684.
thank you.

SANPOT said...

Good Morning Ilango Sir and blogmates.

Shradha Saburi said...

Dear Friends
i feel
1) instead of stating 'JNSAR is triggered' we should state that Prices are triggered above the JNSAR or below the JNSAR.
2) JNSAR does not attract the price but it pushes away from it, we have to protect the JNSAR rather than wish to cross it.
it may be our better understanding about JNSAR.

Nilesh Deshpande said...

ATR based trading signals

Buy Zone : From 5644.25 to 5624.25

Breakdown below : 5620.25

Breakdown target : 5547.6

Sell Zone : From 5724.25 to 5744.25

Breakout above : 5748.25

Breakout target : 5787.6

root said...

with ur permission
price action on thursday & friday showed completion of five waves of a minor degree with a fifth wave failure from 5633 to 5711. this was confirmed by a retracement of more than 61.8% well into the 2nd wave( as mentioned in ur premarket).of the above mentioned fifer.

price action is now showing A zz(5815 to 5636), B flat (5636 to 5711) is over and C is unfolding on a higher degree

Time perspective also shows the above B took 1.618 of A which means if the C unfolds downwards into a zz or a terminal or a triangle then it will be atleast 2 or 3 week of downmove to sideways between 5700 to 5450.
So selling at the top of the range as JNSAR suggests looks a good trading strategy to adopt.

This view gets negated if price goes above 5711

kuheli said...

As per JNSAR SHORT triggered. Should one go short now or wait more?

jay shah said...

gm dear sir , seniors and freinds happy new tradign week to all

Ar v said...

Thank you master Illango, as per your advice, i was able to bought 5600 pe at 9.40 days low, planning to book once at 12 now

Ilango said...

@ Kuheli,

If no new lows are made in the next hour, following is the retracement for the 5722 to 5658 fall. (This fall hasn't breached the 80% mark @ 5652 to confirm a downtrend)


80% mark to confirm a reversal to "UP" @ "5709".

Prabakar said...

Namaste Ilango Sir and JN Family

Pankaj said...

@Good mroning Ilango sir and fellows! I just noticed across the board PE unwinding in the current series.

anmpatel said...

a/c to 'CT' support at 5660, resistance at 5705. if it still remaining in CT.

maulik00777 said...

Gm ilango sir & seniors ...sir can u post here link that how to count waves& how to get those level of % it fibo level sir ??? if yes then how to get it and draw it & how to take decision based on that ...plz sir give link to understand that or post any file of material ...


Ilango said...

@ maulik00777,

Take time this holiday-filled week to soak in the following:
Elliott wave in 4-Parts


Fibonacci retracement trading

sudharsan said...

Good Morning Master and Friends.... @ Master if still B wave then can we expect 5757-5775???

Parimal said...

Dear Master
i update stock TA files during the weekdays with TradeTiger data. yet, i find lot of difference between your TA file charts and mine updated ones. i donot understand the reason. For example, i missed ICICI Bank negative divergence on hrly chart.

STOCK4SURE said...

India Vix is down near 5.6% with nifty in red
does it have any significance or indicating something???

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