On hrly chart of SBI, it is a double bottom pattern in the making. the same is also visible on its daily chart.
@IlangoDespite selling pressure at higher levels and well below hourly, daily and weekly parameters, the channel bottom is providing strong support.Am unable to interpret this.....is this an early indication of an upmove?
ND Sir's ATR signal worked. Now waiting for Buy zone to arrive.Bears need one more push and break the day's low once more to get a firm grip on the Nifty as per the current ADX reading.
@ilango jiCan i have mobile number or e-mail id? I want to talk to you to understand more on TA. Please help me sir ji :)Thanks,Gautam
@Sujatha,எதுவும் நடக்கும். உங்கள் அலெர்ட் படி. என்னுடைய பெவோரிட் முப்பது நிமிடம். :)
@Sujatha,Waiting for Yesterday Low Break.
Hi gomzi,Masters email id is mentioned on the blog i.e email@example.comRegards
@ Indus,Trade for the day as per Nifty's TA was:"sell on rises", facilitated by +ve global cues.Rise opened right into the resistances marked as 5595-5615.Intraday resistances developed @ 5585.(5585 gave support initially & turned to resistances later).Always trade based on the "best aligned technicals". Eg:"Higher T/F in a trend & lower T/F reaching an extreme" which facilitates a "low risk-high reward trade".
@Nilesh DeshpandeGr8 ATR signal Sir.
@IlangoThank you.....but the down channel support if held EOD today is an indication of strength???...am unable to grasp this
Julius - no pls....... OM.. double bottom aye namah!!!! don't touch my dear nifty lower level i deleted my morning post.. hope u remember
Julius - EOD closing around 560/74 around is OK. below the fancy no. i will drop out my little bull chance. but believe the close may be around what i mentioned. ( over confidence :P ???) Asai yarai vittuthu???
Friends,What is the Trendline support for today,
@ Indus,If we focus only on one study, i.e channels, we'll miss the larger picture.With weekly TA turned down, daily TA remaining in oversold zone, hour TA getting sold on every rise...........stay with the trend till the day TA shows signs of reversal.With such a technical set up, corrections tend to turn to trending moves.
@Master,can we consider 5545 for 4th wave tgt or may be5th wave extended of 4th up to 5520-5510???
Dear Ilango Sir,5550- 5555- Any significance other than support1?Regards
NF low 5555.55
chetas - aaaaaaaa thamizakkum...pottu koduthu odhai vanga vekka pakkaringala??? appa deivame konjam delete pannidungappa pls
@Ilango,if we take 5548 as toda5's low and 5555 as EOD close then 9RSI almost reach the oversold and lead indicators 5D (for both Day and Week) and 14D for day seems to be entered deep in oversold area. doesn't it show some kind of exhaustion.
@ chetas,Trendline support:5550.
@Sujatha,Your wish may come true if 5560 came in few mins. A Reversal Pin Bar@Previous Support may give sudden bounce. I closed my small retrace shorts. My Tomorrow Numbers 5626 & 5549. Good Luck to You.
Dear JN,Time to Watch Trader Vic's 2B PatternsDOWNLOAD:http://www.surinotes.com/Tradestation/articles/suri2B_TJDec2007.pdfBye All.....
@ CDG,Hour TA produced a bounce of 65 points.Now it could be the turn of oversold Day TA.Bulls will be safe only when week TA turns up before damaging month TA. Until then, play them cautiously.As per TA, "Sell on rises & Sell and hold" are in play which has been giving good rewards. Let the TA turn up, change the direction. When in doubt, play it light or stay out.Remember the simple adage: Trend is your friend. Also remember the time frame of a trend you choose to play.
Closing above 5563.5 would neutralise Hour downtrend.Closing above 5581.55 EOD would neutralise Day downtrend.
Thanks Ilango. Also when will you say the month has damaged. in the TT HEMA-Month has already turned RED now. So if we reach below 5EMA-month that will be devastating. am i correct ?
Julius - 5626??? mm.. mind is allowing moreeeeeee but mkt is not giving. :D when it is listening to me??chetas - tks. am right only ofcourse with charts...it's not good to overcross sir's methodology at his blog. i can keep with me either share to a friend who knows wat is wat?? so that newcomers will not hurt and i believe still some upmove left. it's not the breaking time. i will come forward once i hv the feel that no. will break :D let us see.
julius - 74 showing it's head??? may god bless my 89
@ CDG,Only the close price on 30th Nov would alter the month TA. Intra changes, generally, do not matter much.To keep up the uptrend, 30th Nov should close above 5661.On the other hand, "Sell" will trigger in month t/f only on a close below 5458.
@Sujatha,As per 2B Pattern LONG triggered as Per Price Action Strategies with SL@5548-5545 for the Target of 5612! Let's see the 2B followup tomorrow. Bye.
@Sujatha,74 ~~~ Sister of JN is Great.
Thanks Ilango.. I remember you keep on reminding this time and again but i keep on forgetting... Thanks again for the clarification...
Tushar,SGX what u saw must be a delayed quote.
@ Tushar,Everything we need to know is available in "Spot Nifty", if we remain objective.Since I do not track them, I can not comment on their significance.
Julius - lolz :) nothing great but need butter fingers to trade fast in intra + some homework. but v should overcross or overthink abv that :DSJK - watever it is comparing is working out??? when dow falling nearly 1000 K pnts v were stubborn..not falling much now gaining DOW - but v r not gaining but utilising the upmove for selling??? SGX is very low volume one and i think manipulative too??? anyway 74 protect-aye namah!!!bye friends - long week end for me from tomorow onwards... enjoy the space
Ilango Sir, you are correct.I will keep this in mind.Thank you..
TusharSGX Nifty is at 5581.there are certain SGX Nity charts which do not give correct number. you may try SGXNifty.net
julius -errrrrrr - reas as "v should not"
closing today flat...... with good fluctuations above and below it...What is this????? "Superstitious DOJI"??????
Market made only hourly reversal, Can it become daily reversal by tomorrow?
many thanks to dear sir , seniors and freinds for valuable inputs bye everyone
New highs are registered in Sep and Oct, I need to see a new high in Nov also- above 5815.35, reversal from a total unexpected point and time, so better to catch Nifty after the confirmation, the only problem is options will be fatty then
dear mohamad javed akhtarji and rajeev malik ji can u update ur email ids in ur profile i want to mail u