Keeping below "5665", Nifty is headed towards the target 5541 or even lower.
There will be bounces along the way and they will be resisted @ 21 & 34 Hr smas(5643-65).
A 4th wave correction should end in the next two days and should not break the day channel (5500) decisively.
When a correction is on, there will always be doubts on whether it is of short term in nature or it could turn into a larger reversal. No one could answer it with certainity since there are no certainities in the market but only "probabilities". And the one who is "objective-minded", he/she alone can arrive at good probabilities. The simplest way to handle such situations is to "part-book" & hold the remaining as long as "signals favour holding" and reverse when reasonable "reversal signals" are seen. Has any "reversal signals" are seen presently? Not yet.
For the day: A close above "5604" by a comfortable margin would keep the "monthly upward momentum".
"Sell on rise" continues and market is in search of that reliable support.
The likely support zones are:
5573-5581 - 10 wk sma/ ema.
5537-5542 - Major pivot low/ ZZ target/50sma/55ema
5510-5524-13wk sma/55 DSma.
There will be bounces along the way and they will be resisted @ 21 & 34 Hr smas(5643-65).
A 4th wave correction should end in the next two days and should not break the day channel (5500) decisively.
When a correction is on, there will always be doubts on whether it is of short term in nature or it could turn into a larger reversal. No one could answer it with certainity since there are no certainities in the market but only "probabilities". And the one who is "objective-minded", he/she alone can arrive at good probabilities. The simplest way to handle such situations is to "part-book" & hold the remaining as long as "signals favour holding" and reverse when reasonable "reversal signals" are seen. Has any "reversal signals" are seen presently? Not yet.
For the day: A close above "5604" by a comfortable margin would keep the "monthly upward momentum".
"Sell on rise" continues and market is in search of that reliable support.
The likely support zones are:
5573-5581 - 10 wk sma/ ema.
5537-5542 - Major pivot low/ ZZ target/50sma/55ema
5510-5524-13wk sma/55 DSma.
32 comments:
Good Morning, Ilango ji
Good Morning Ilango Sir and Friends
Bank Nifty Range breakdown and support levels: CLICK HERE
Good Morning Master & Friends,
R/Ilango Sir Namaste n Namaskaar 2 all reader's.
Good Morning Master Mr.Illango, Master Mr.Dinesh Rishi & Blogmates.
Have a Happy & Prosperous Day.
Till not Breaking 80% Mark@5670
SELL on Rise is my opinion.
H4@5653[Breakout BUY Zone]
H3@5625[Resistance SELL Zone]
L3@5570[Support BUY Zone]
L4@5543[Breakout SELL Zone]
H3 & L3 need confirmation of Intraday Technical Reversals.
$ Fibonacci For Smart Traders $
For the Swing 5690-5593
Healthy Retracements
0.618@5652
0.500@5640
0.382@5628
Personal Decision Advised.
Good Luck.
Good Morning Ilango Sir & JN Friends
Good Morning Ilango Sir & all Blogmates.
Rgds
Saravanan
Master ilango and friend,
good morning to all
Regards
☺☺☺☺☺
Goodmorning master DR Ji Kumar sir and all JN friends
Wishing you all a Great Learning and Earning session today.
Good Luck !!!
Good Morning Ilango Sir & all Blogmates.
@ Kumar Sir
Hope your father is keeping well.
Namaste Ilango Sir & all members.
kumar ji,
GM: hope your father is getting better
good morning wonderful sir, dear seniors and all freinds of the blog
sir
ur philosophical thought about markets being probability (karma) based and not a certainity (destiny) is a very apt definition.
often traders are misled to believe that the market has to follow a path is set in stone and are in search for the ever elusive naksha.
unlearning and wiping the mind of prejudices is the first baby step to knowledge
thank u
Good morning master & JN family
Have a nice day !
Good Morning Ilango Sir and Blogmates.
Good Morning Sir, and all the gems of JN
lot of thanks Sir for your advice.
Dear friends
need not to go anywhere or hire anybody's service, we get each and everything here.this is the birth place of traders and analysts.only you study yourself.
regards
Namaste Ilango Sir and JN Family
sir
nifty has taken about 90% of the time for correcting 38.2 of the fifer from 5215 to 5815.
prices are falling and ST down.
but does the above price to time lag correlation signify underlying bullish trend and that will assert itself sometime soon.
@master
good morning.
need some technical help, so send my file on your mail. kindly check when free. thank you very much.
Good Morning Sir & All Friends.
Good Morning Ilango Sir & all Blog-mates.
Have a nice trading day.
Namaste Dear SIr and all friends
have a nice day of trading
One of my friends has sent this:
PATIENCE is not the 'ability' to wait, but the ability to keep a good attitude while waiting.
Just a Thought...
Daily Chart 5215-5815 Movement's
Retracement
0.382@5586[Done]
0.500@5515[Pending]
0.382@5444{Pending]
These are all the Maximum Targets For the SHORTS for the Bullish Correction, I believe.
My Dear Shradha Saburi
Good Morning
Good Morning Master and copy to All
Good Morning Dear Parimal!
thanks for the nice quote
have a happy profitable trading day!
Sai bless you all!
regd
New Post Done.
Today we mat get in narrow range! CONTRADICTORY CLUES ARE COMING!
support resistance method may be winner
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