Tuesday, November 20, 2012

Nifty Intraday Update-III


48 comments:

Parimal said...

On hrly chart of SBI, it is a double bottom pattern in the making. the same is also visible on its daily chart.

Indus said...

@Ilango

Despite 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?

ITradeForProfit Daily said...

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.

Gomzi said...

@ilango ji

Can 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

J.R.Julius said...

@Sujatha,
எதுவும் நடக்கும். உங்கள் அலெர்ட் படி. என்னுடைய பெவோரிட் முப்பது நிமிடம். :)

J.R.Julius said...

@Sujatha,
Waiting for Yesterday Low Break.

Parminder said...

Hi gomzi,
Masters email id is mentioned on the blog i.e
vanilango@gmail.com
Regards

Ilango said...

@ 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".

ITradeForProfit Daily said...

@Nilesh Deshpande

Gr8 ATR signal Sir.

Indus said...

@Ilango

Thank you.....but the down channel support if held EOD today is an indication of strength???...am unable to grasp this

Sujatha said...

Julius - no pls....... OM.. double bottom aye namah!!!! don't touch my dear nifty lower level i deleted my morning post.. hope u remember

chetas said...
This comment has been removed by the author.
Sujatha said...

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???

chetas said...

Friends,

What is the Trendline support for today,

Ilango said...

@ 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.

Prithvi Yashashvi said...

@Master,

can we consider 5545 for 4th wave tgt or may be
5th wave extended of 4th up to 5520-5510???

Lakshmi said...

Dear Ilango Sir,

5550- 5555- Any significance other than support1?

Regards

Sujatha said...

chetas - aaaaaaaa thamizakkum...pottu koduthu odhai vanga vekka pakkaringala??? appa deivame konjam delete pannidungappa pls

CDG said...

@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.

Ilango said...

@ chetas,

Trendline support:5550.

Indus said...

@Ilango....many thanks

J.R.Julius said...

@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.

J.R.Julius said...

Dear JN,
Time to Watch Trader Vic's 2B Patterns

DOWNLOAD:
http://www.surinotes.com/Tradestation/articles/suri2B_TJDec2007.pdf

Bye All.....

Ilango said...

@ 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.

Ilango said...

Closing above 5563.5 would neutralise Hour downtrend.

Closing above 5581.55 EOD would neutralise Day downtrend.

CDG said...

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 ?

J.R.Julius said...

2B Patterns
http://www.mediafire.com/view/?g0yf6gpo9gcpfwy

Sujatha said...

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.

Sujatha said...

julius - 74 showing it's head??? may god bless my 89

Ilango said...

@ 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.

J.R.Julius said...

@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.

J.R.Julius said...

@Sujatha,
74 ~~~ Sister of JN is Great.

CDG said...

Thanks Ilango.. I remember you keep on reminding this time and again but i keep on forgetting... Thanks again for the clarification...

Tushar said...
This comment has been removed by the author.
SJkolkata said...

Tushar,
SGX what u saw must be a delayed quote.

Ilango said...

@ 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.

Tushar said...
This comment has been removed by the author.
Sujatha said...

Julius - lolz :) nothing great but need butter fingers to trade fast in intra + some homework. but v should overcross or overthink abv that :D

SJK - 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


Tushar said...

Ilango Sir,
you are correct.I will keep this in mind.
Thank you..

Parimal said...

Tushar
SGX Nifty is at 5581.
there are certain SGX Nity charts which do not give correct number. you may try SGXNifty.net

Sujatha said...

julius -errrrrrr - reas as "v should not"

CDG said...

closing today flat...... with good fluctuations above and below it...What is this????? "Superstitious DOJI"??????

rajapvt said...

Market made only hourly reversal, Can it become daily reversal by tomorrow?

jay shah said...

many thanks to dear sir , seniors and freinds for valuable inputs bye everyone

Arun v said...

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

jay shah said...

dear mohamad javed akhtarji and rajeev malik ji can u update ur email ids in ur profile i want to mail u

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