Tuesday, October 9, 2012

Nifty Pre-Market View.

There are two retracements at work.
1st one is from 5757 to 5666 which has 5722-33 res with 5739 as 80%.
If crosses 5739, the 2nd retrace would come into play(5815 to 5666).
Since the fall is of a 3-wave kind and if 5739 is crossed, it would mean a likely "Flat correction" which could exceed the 2nd 80% @ 5785.
Nifty is in "Sell on rises" mode as long as it closes below DHEma and hence allow for rises to sell as well as booking profits around or 20 points below DLEma.

43 comments:

San said...

Good Morning Ilango Sir and Friends

SBI Chart update: CLICK HERE

Parimal said...

Namaste Dear Sir and all friends
have a nice trading session

ALBELA HOUSE said...

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

anmpatel said...

good morning all
HA open value for today is 5734.34
thanks.

DZIRE said...

Namaste Ilango sir & all members.

Bhushan said...

Good morning Gurudev and friends

SAM said...

sir if again Jnsar triggered should we reverse the trade ..

amber said...

Sir Ilango ji good morning

Jagan said...

Namaste Ilango Sir And All.

saravanan k said...

Good Morning Ilango Sir & all Blogmates.

Rgds
Saravanan

srsexpert said...

sir whats the reason for gap up

anmpatel said...

@SAM
keep 20 point SL for first two days. means today JNSAR is 5714 so your SL would be 5734(if you shorted yesterday). go long at 5734 with again 20 point SL is 5714. this is what i am doing.
if you did not short then go long at 5714 with 20 point SL.

parminder said...

Master ilango and friends
Good morning to all
Regards
☺☺

anmpatel said...

@srsexpert
? may be hangsang is trading 1.1% higher.

Hari_Indian said...

Good morning master & JN family

Have a nice day !

Smita said...

GoodMorning Sir and All ..
Have a nice day !

jay shah said...

gm dear sir , seniors and all dear freinds

parminder said...

Today open low same
lets see

Stockathon said...

Good Morning Ilango Sir & Friends...

vksoni said...

high made @ golden ratio

Prabakar said...

Namaste Ilango Sir and JN Family

Vishnu said...

Respected Sir ,
Good Morning, Sir today's JNSAR in chart is 5734 and in TT is 5714. So shall we consider 5734+20 or 5714+20 as SL.

Nilesh Deshpande said...

ATR Based trading signal also suggests breakout above 5740 only.

Ilango said...

A 5 waves done from 5666 to 5729.
An "abc" correction is due following which another 5 is possible.

This would mean that a "whipsaw" is likely in JNSAR trade.

Ilango said...

@ Vishnu,

The actual JNSAR will be available in the "Tech.Table(TT)" all the time.

The chart shows the JNSAR with the filter whenever the filter needs to be applied.

parminder said...

Vishnu ji,
It should be 5734

Vishnu said...

Thanks Sir
also thanks to Shri Parminderji..

Manish said...

Good morning master and all JN friends

Have a Great Learning and Earning session today !!!

anmpatel said...

@master
A 5 waves done from 5666 to 5729.
An "abc" correction is due following which another 5 is possible.

This would mean that a "whipsaw" is likely in JNSAR trade.
October 9, 2012 9:33 AM

means JNSAR long at the EOD??

anmpatel said...

@master
"whipsaw" means we were long, create short as per JNSAR yesterday. then again today if 5734 broken we will be long. is that whipsaw mean?
please guide. thanks.

NEVER GIVE UP said...

Good Morning Sir & All Friends.

Vishnu said...

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Ask, Believe, Receive - just three simple steps to create what you want. However, very often the second step, believe, can be the most difficult one. And yet it is the greatest step you will ever take. Believing contains no doubt. Believing does not waiver. Believing is absolute faith. Believing remains steadfast despite what is happening in the outside world.

When you master believing, you have mastered your life.

May the joy be with you,

By Rhonda Byrne

Smita said...

ORB for the day 5708 - 5729 could be a good guide for the trades .

Ilango said...

Following is the retrace for 5666 to 5729 rise.

38.0%-5,705
50.0%-5,698
61.8%-5,690

and

the 80% comes @ 5679 below which only more downsides.

Above 5739(80% of 5757 to 5666), more upsides.

AJIT PATIL said...

Good Morning Ilango Sir & all Blogmates.

shriram said...

Morning IJN Family!

Ilango ji: ysdays doubt resurfacing --> The oscillators (SSTO / RSI-9) hv dropped but cud not drag price along with them to prev lows..

Can mean (and /or) 2 things :-
1. Close-LL diff was less ; and /or
2. HH-LL was diff very high compared to Cl-LL ??

My query for ur rumination is:-
While @ Oscillators for Price Div In Impulsive moves is a regular practice,

Can we obsv such "Hyper active" Oscillator behaviour (when not in consonace with Price) as an evidence of a Corrective , sir ?

Expert - Knowledge Makes Money said...

Definition of 'Whipsaw'

A condition where a security's price heads in one direction, but then is followed quickly by a movement in the opposite direction.

The origins of term is derived from the push and pull action used by lumberjacks to cut wood with a type of saw with the same name.

jay shah said...

sir since 5739 is an important level can we tweek JNSAR filter there as its just 5 points above 5734?

Unknown said...

Thanks ilango sir for jnsr guidance.

Ilango said...

@ shriram,

Reading of oscillators in the label section would reveal our approach to them.

When oscillator swing is higher than the prices, it would mean a correction. This is a general observation and works most of the times.

However, this alone should not form the basis for our trading decisions. It would be one of the inputs.

sushil said...

Bahujan Samaj Party (BSP) supremo Mayawati will announce stand on support to UPA. In massive rally in Lakhnow today and followed by the party's national executive meeting on October 10.
market will keenly watching it

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